Document:

UBS Securities LLC  Customer Agreement

 Exhibit 10.03 
  
 UBS SECURITIES LLC 
 CUSTOMER AGREEMENT 
  
 This Customer Agreement
(“Agreement”) between UBS Securities LLC (“UBS-S LLC”) and                      (“Customer”) shall govern
the purchase and sale by UBS-S LLC of certain futures contracts, options thereon and options contracts for the account and risk of Customer through one or more accounts carried by UBS-S LLC on behalf and in the name of Customer (collectively, the
“Account”), as more fully described below. 
  

	1.	UBS-S LLC’S AUTHORIZATION TO ACT AS BROKER 

  
 Customer authorizes UBS-S LLC, acting through employees and agents selected by it in its sole discretion, to purchase and sell for the Account contracts
for future delivery of financial instruments, foreign currency or precious metals and any other instruments and commodities and for option contracts for which UBS-S LLC has notified Customer that UBS-S LLC is prepared to execute transactions
(collectively, “Contracts”) within or outside the United States of America in accordance with Customer’s instructions. 
  

	2.	CUSTOMER’S REPRESENTATIONS AND WARRANTIES 

  
 (a) Representations and Warranties. Customer represents and warrants as follows: 
  
 (i) Authority. Customer has full right, power and authority to enter into this Agreement, and the
person executing this Agreement on behalf of Customer is authorized to do so. This Agreement is binding on Customer and enforceable against Customer in accordance with its terms; 
  
 (ii) Lawful Agreement. Customer may lawfully establish and open the Account for the purpose of
effecting purchases and sales of Contracts through UBS-S LLC. Transactions entered into pursuant to this Agreement will not violate any “Applicable Law” (as defined below) to which Customer is subject or any agreement to which Customer is
subject or a party and the execution, delivery and performance of this Agreement by Customer require no action by or in respect of or filing with any governmental body, agency or official; 
  
 (iii) Customer’s Statements. The statements made
to UBS-S LLC by Customer regarding Customer’s futures trading (including any financial statements submitted therewith) are true and correct to the best of Customer’s knowledge; 
  
 (iv) Interest or Control of Account. If any person or entity has, or during the term of this
Agreement will have, any interest in the Account other than Customer, Customer hereby agrees to so notify UBS-S LLC immediately (and no later than within one business day); and 
  
 (v) Designation. If Customer is not a citizen or resident of the United States, Customer has been
informed by UBS-S LLC of Commodity Futures Trading Commission (“CFTC”) Regulations concerning the designation of a futures commission merchant as the agent of foreign brokers, customers of a foreign broker and foreign traders for certain
purposes as set forth in CFTC Regulation §15.05 and concerning special calls for information from futures commission merchants, foreign brokers and members of contract markets as set forth in CFTC Regulation §21.03. 
  
 (b) Notice of Change. Customer shall immediately (and no later than
within one business day) notify UBS-S LLC in writing if any of the representations contained herein materially change or cease to be true and correct. 
  

	3.	APPLICABLE LAW 

  
 The Account and all transactions and agreements in respect of the Account shall be subject to the regulations of all applicable Federal, state and
self-regulatory agencies or authorities, including but not limited to: (a) the provisions of the Commodity Exchange Act, as amended, and any rules, regulations, orders and interpretations promulgated thereunder by the CFTC; (b) the constitution,
by-laws, rules, regulations, orders and interpretations of the contract market (and its clearing house, if any) on which such transactions are executed and cleared, and any relevant registered futures association, including, without limitation, the
National Futures Association (“NFA”); and (c) custom and usage of the trade. All such provisions, rules, regulations, orders, interpretations, constitution, by-laws, custom and usage are hereinafter collectively referred to as
“Applicable Law.” 
  

	4.	RELIANCE ON INSTRUCTIONS 

  
 UBS-S LLC shall be entitled to rely on any instructions, notices and communications, whether oral or in writing, that it believes to be that of an 

  

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individual authorized to act on behalf of Customer, including, but not limited to, any individual identified in writing by Customer as authorized to act on
its behalf, and Customer shall be bound thereby. Customer hereby waives any defense that any such instruction was not in writing as may be required by the Statute of Frauds or any other similar law, rule or regulation. 
  

	5.	ACCEPTANCE OF ORDERS; POSITION LIMITS 

  
 (a) Acceptance of Orders. UBS-S LLC shall have the right to limit the size of open positions (net or gross) of Customer with respect to the Account
at any time and to refuse acceptance of orders to establish new positions (whether such refusal or limitation is required by, and whether such refusal is based on position limits imposed under, Applicable Law). UBS-S LLC shall immediately notify
Customer of its rejection of any order. Unless specified by Customer, UBS-S LLC may designate the exchange or other markets (including, without limitation, GLOBEX) on which it will attempt to execute orders. 
  
 (b) Position Limits. Customer shall not, either alone or in
combination with others, violate any position or exercise limit established by or under Applicable Law. If Customer intends at any time to exceed such position limits, Customer shall cause to be filed an application with the CFTC or the relevant
contract market requesting authorization for Customer to exceed such position limits and shall provide UBS-S LLC with a copy of such application and such other information as UBS-S LLC may reasonably request with respect to such application.
Customer shall immediately (and no later than within one business day) notify UBS-S LLC of any positions for which Customer is required to file reports under Applicable Law, including any large trader reports filed with the CFTC or any contract
market. Customer shall indemnify and hold UBS-S LLC harmless from and against all claims, damages, fines or assessments of any kind whatsoever, including reasonable attorneys’ fees in connection with the defense thereof, made and incurred in
connection with any violation by Customer of its obligations under this Section 5(b). 
  

	6.	ORIGINAL AND VARIATION MARGIN; PREMIUMS; OTHER CONTRACT OBLIGATIONS 

  
 With respect to every Contract purchased, sold or cleared for the Account, Customer shall make, or cause to be made, all applicable original margin,
variation margin, intra-day margin and premium payments, and perform all other obligations attendant to transactions or positions in such Contracts, as may be required by Applicable Law or by UBS-S LLC in its sole and absolute discretion. Requests
for margin deposits and/or premium payments may, at UBS-S LLC’s election, be communicated to Customer orally, telephonically or in writing. Margin requirements established by UBS-S LLC may exceed the margin requirements set by any contract
market or clearing organization on which transactions are executed or cleared or caused to be executed or cleared by UBS-S LLC or any agent thereof for Customer and may be changed by UBS-S LLC without prior notice to Customer. Except as otherwise
provided herein, all such margin and premium payments shall be in the form, as UBS-S LLC permits, of cash in U.S. dollars, securities of the U.S. Government, or a combination thereof. If at any time Customer fails timely to deposit or maintain
required margin, or Customer fails timely to make any premium payments, UBS-S LLC may at any time, without further notice to Customer, close out Customer’s open position in whole or in part and take any action it deems appropriate. 

 

	7.	SECURITY INTEREST AND RIGHTS RESPECTING COLLATERAL 

  
 All Contracts, cash, securities, and/or other property of Customer, including all proceeds of all such property such as profits from Account transactions
(collectively, the “Collateral”) now or at any future time in the Account or otherwise held by UBS-S LLC or its affiliates, any clearing house through which trades of the Account are executed and/or positions are held, or any other entity
authorized to act as an agent of UBS-S LLC or Customer, hereby are pledged to UBS-S LLC and shall be subject to a general lien and security interest in UBS-S LLC’s favor to secure any indebtedness or other amounts at any time owing from
Customer to UBS-S LLC, and to secure any and all other obligations and liabilities of Customer to UBS-S LLC (collectively, the “Customer’s Liabilities”). Customer hereby grants UBS-S LLC the right to borrow, pledge, repledge,
hypothecate, rehypothecate, loan or invest any of the Collateral without notice to Customer, and without any obligation to pay or to account to Customer for any interest, income or benefit that may be derived therefrom. UBS-S LLC shall be under no
obligation to deliver to Customer the identical Collateral in the Account, but shall only be under an obligation to deliver to Customer Collateral of like or equivalent kind and amount. The rights of UBS-S LLC set forth above shall be qualified by
any applicable requirements for segregation of customer’s property under Applicable Law. 
  

	8.	PAYMENT OBLIGATIONS OF CUSTOMER 

  
 (a) Charges to the Account. With respect to every Contract purchased, sold or cleared for the Account, Customer shall pay UBS-S LLC upon demand and
UBS-S LLC hereby is authorized to charge Customer’s Account for: (i) all brokerage charges, give-up fees, commissions and service fees as UBS-S LLC may from time to time charge; (ii) all contract market, clearing house, clearing member, NFA or
CFTC fees or charges, fines or penalties; (iii) any tax imposed on such transactions by any competent taxing authority; (iv) the amount of any trading losses in the Account; (v) any debit balance or deficiency in the Account; (vi) interest and
service charges on any debit balances or deficiencies in the Account, any advances or any loan (including interest on the amount of variation margin calls, until satisfaction of such calls, when the Customer posts U.S. Treasury Bills for original
margin purposes), at the rate customarily charged by UBS-S LLC (which may be at the prevailing and/or allowable rates according to the laws of the State of Illinois) from the day any such deficit was incurred to (but not including) the day of
payment (calculated on the basis of a 360 day year and for the actual number of days elapsed for all deficits, except for those denominated in foreign currencies for which generally accepted accounting principles require that 

  

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the interest rate shall be calculated otherwise), together with costs and reasonable attorneys’ fees incurred in collecting any such deficit; (vii) all
storage and delivery service fees; and (viii) any other amounts owed by Customer to UBS-S LLC with respect to the Account or any transactions therein. 
  
 (b) Payment in U.S. Dollars. Any and all payment obligations of Customer, if not deducted from Customer’s Account as permitted hereunder,
shall be made upon demand in immediately available U.S. dollars to UBS-S LLC or at such other place and at such time and in such manner as UBS-S LLC notifies Customer. The obligation of Customer to make all payments due hereunder shall not be
discharged or satisfied by any tender, or any recovery pursuant to any judgment, which is expressed in or converted into any other currency other that U.S. dollars, except to the extent that such tender or recovery shall result in the actual receipt
by UBS-S LLC of the full amount of such U.S. dollars expressed to be payable in respect of such amounts. Customer agrees that its obligations to make payment in U.S. dollars as aforesaid shall be enforceable as an alternative or additional cause of
action for the purpose of recovery of the amount (if any) by which such actual receipt shall fall short of the full amount of U.S. dollars expressed to be payable in respect of such amount due hereunder, and shall not be affected by judgment being
obtained for other sums due hereunder. 
  
 (c) Setoff. Any
Collateral may at any time or from time to time without notice or compliance with any condition precedent (which notice hereby is expressly waived) be setoff, appropriated and applied by UBS-S LLC against any and all payment obligation of Customer
hereunder including, but not limited to, any deficit balance in the Account, in such manner as UBS-S LLC in its discretion may determine. 
  
 (d) Gross-Up. All payments made by Customer to UBS-S LLC hereunder will be made without setoff or counterclaim free and clear and without deduction
or withholding for, any present or future taxes, levies, assessments or other charges of whatever nature, now or hereinafter imposed by any jurisdiction or by any agency, state or other political subdivision or taxing authority thereof or therein,
and all interest, penalties, or similar liabilities with respect thereto (collectively, “Taxes”). If any Taxes are so levied or imposed, Customer agrees to pay the full amount of such Taxes, and such additional amounts as may be necessary
so that every net payment of all amounts due hereunder, after withholding or deduction for or on account of any Taxes, will not be less than the amount provided for herein. Customer will furnish to UBS-S LLC within thirty days after the date the
payment of any Taxes is due pursuant to Applicable Law certified copies of tax receipts evidencing such payment by Customer. 
  

	9.	DELIVERY PROCEDURES; OPTIONS ALLOCATION PROCEDURE 

  
 (a) Instructions. Customer will provide UBS-S LLC with instructions either to liquidate Contracts previously established by Customer, make or take
delivery under any such Contracts, or exercise options entered into by Customer, within such time limits as may be specified by UBS-S LLC. UBS-S LLC shall have no responsibility to take any action on behalf of Customer, including, without
limitation, exercising option Contracts, unless and until UBS-S LLC receives oral or written instructions reasonably acceptable to UBS-S LLC indicating the action UBS-S LLC is to take. Any instructions, if given orally to UBS-S LLC, shall
immediately be confirmed in writing by Customer. Funds sufficient to take delivery pursuant to such Contract or deliverable grade commodities to make delivery pursuant to such Contract must be delivered to UBS-S LLC at such time as UBS-S LLC may
require in connection with any delivery. 
  
 (b) Allocation
Procedures. Short option Contracts may be subject to exercise at any time. Exercise notices received by UBS-S LLC with respect to option Contracts sold by Customer may be allocated to Customer pursuant to a random allocation procedure, and
Customer shall be bound by any such allocation of exercise notices. Such notices may be allocated to Customer after the close of trading on the day on which such notices have been allocated to UBS-S LLC by the applicable contract market. In the
event of any allocation to Customer, unless UBS-S LLC has previously received instructions from Customer, UBS-S LLC’s sole responsibility shall be to use its best efforts to notify Customer by telephone of such allocation at any time before
trading commences on the first day on which such option Contracts are traded on the applicable contract market following the day on which the applicable contract market has allocated such notices to UBS-S LLC. 
  
 (c) Failure to Provide Instructions. If Customer fails to comply with
any of the foregoing obligations, UBS-S LLC may, in its sole and absolute discretion, liquidate any open positions, make or receive delivery of any commodities or instruments, or exercise or allow the expiration of any options, in such manner and on
such terms as UBS-S LLC, in its sole and absolute discretion, deems necessary or appropriate. Any such action taken shall be in the sole and absolute discretion of UBS-S LLC and Customer shall remain fully liable for all costs, losses, expenses,
liabilities and damages (including special, indirect and consequential damages, penalties and fines) which UBS-S LLC may be required to pay or which it has sustained in connection with such transactions and for any remaining debit balance in the
Account. 
  

	10.	EVENTS OF DEFAULT; UBS-S LLC’S REMEDIES 

  
 (a) Events of Default. As used herein, each of the following shall be deemed an “Event of Default”: (i) the commencement of a case under
any bankruptcy, insolvency or reorganization law or similar law effecting creditors’ rights of any jurisdiction, or the filing of a petition for the appointment of a receiver by or against Customer, an assignment made by Customer for the
benefit of creditors, an admission in writing by Customer that it is insolvent or is unable to pay its debts when they mature, or the suspension by the Customer of its usual business or any material portion thereof; (ii) the issuance of any warrant
or order of attachment against the Account or the levy of a judgment against the Account; (iii) if Customer is an employee benefit plan, the termination of Customer or the filing by Customer of a notice of intent to terminate with the Pension
Benefit Guaranty Corporation (or other similar governmental agency or body of any jurisdiction), or the receipt of a notice of the Pension Benefit Guaranty Corporation’s (or other similar governmental 

  

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agency’s or body’s) intent to terminate Customer, or the inability of Customer to pay benefits under the relevant employee benefit plan when due;
(iv) the failure by Customer to deposit or maintain margins, to pay required premiums, or to make payments required by Section 8 hereof; (v) UBS-S LLC in its sole and absolute discretion determines that the Collateral in Customer’s Account,
regardless of current marked quotations, is inadequate to secure the Account and Customer’s obligations to UBS-S LLC hereunder; (vi) the Account shall incur a deficit balance; (vii) the failure by Customer to perform, in any material respect,
its obligations respecting delivery, exercise or a notice of allocation of exercise, payment for delivery, or settlement under Contracts held in the Account (it being understood that any failure to comply with any Applicable Law shall be deemed
material); or (viii) the failure by Customer, in any material respect, to perform any of its other obligations hereunder (it being understood that any failure to comply with any Applicable Law shall be deemed material). 
  
 (b) Remedies. Upon the occurrence of an Event of Default or in the
event UBS-S LLC, in its sole and absolute discretion, considers it necessary for its protection, UBS-S LLC shall have the right, in addition to any other remedy available to UBS-S LLC at law or in equity, and in addition to any other action UBS-S
LLC may deem appropriate under the circumstances, to liquidate any or all open Contracts held in or for the Account, sell any or all of the securities or other property of Customer held by UBS-S LLC and to apply the proceeds thereof to any amounts
owed by Customer to UBS-S LLC, borrow or buy any options, securities, Contracts or other property for the Account and cancel any unfilled orders for the purchase or sale of Contracts for the Account, or take such other or further actions as UBS-S
LLC, in its reasonable discretion, deems necessary or appropriate for its protection, all without demand for margin and without notice or advertisement. In the event UBS-S LLC’s position would not be jeopardized thereby, UBS-S LLC will make
reasonable efforts under the circumstances to notify Customer prior to taking any such action. Any such liquidation, sale, purchase, borrowing or cancellation shall be made at the discretion of UBS-S LLC on a contract market, through a clearing
house, on other markets, at public auction or by private transaction. Customer acknowledges and agrees that a prior demand or margin call of any kind from UBS-S LLC or prior notice from UBS-S LLC shall not be considered a waiver of UBS-S LLC’s
right to take any action without notice or demand. In any transaction described above, UBS-S LLC may sell any Collateral to itself or its affiliates or buy any Collateral from itself or its affiliates. UBS-S LLC may, to the extent permitted by law,
purchase the whole or any part thereof free from any right of redemption. In all cases, Customer shall remain liable for and shall pay to UBS-S LLC on demand the amount of any deficiency in its Account resulting from any such transaction, and
Customer shall reimburse, compensate and indemnify UBS-S LLC for any and all costs, losses, penalties, fines, taxes and damages which UBS-S LLC may incur, including reasonable attorneys’ fees incurred in connection with the exercise of its
remedies and the recovery of any such costs, losses, penalties, fines, taxes and damages. 
  

	11.	EXCULPATION AND INDEMNIFICATION 

  
 (a) Exculpation. Neither UBS-S LLC nor any of its managing directors, officers, employees or affiliates shall be liable for any costs, losses,
penalties, fines, Taxes and damages sustained or incurred by Customer other than as a result of UBS-S LLC’s gross negligence or reckless or intentional misconduct. In no event will UBS-S LLC be liable to Customer for consequential, incidental
or special damages. Without limiting the generality of the foregoing, neither UBS-S LLC nor any of its managing directors, officers, employees or affiliates shall have any responsibility or liability to Customer hereunder for any costs, losses,
penalties, fines, Taxes and damages, including consequential, incidental or special damages, sustained or incurred by Customer, (i) in connection with the performance or non-performance by any contract market, clearing house, clearing firm or other
third party (including other exchange members, banks and floor brokers) to UBS-S LLC of its obligations in respect of any Contract or other property of Customer; (ii) as a result of any prediction, recommendation or advice made or given by a
representative of UBS-S LLC whether or not made or given at the request of Customer; (iii) as a result of any delay in the performance or non-performance of any of UBS-S LLC’s obligations hereunder to the extent that losses arising therefrom
are, directly or indirectly, caused by the occurrence of any contingency beyond the control of UBS-S LLC including, but not limited to, the unscheduled closure of an exchange or contract market or delays in the transmission of orders due to
breakdowns or failures of transmission or communication facilities, execution, and/or trading facilities or other systems; (iv) as a result of any action taken by UBS-S LLC, its managing directors, officers, employees, agents (including other
clearing firms through which transactions are effected on behalf of Customer) or floor brokers, to comply with Applicable Law; or (v) for any acts or omissions of those neither employed nor supervised by UBS-S LLC. Moreover, UBS-S LLC shall have no
responsibility for compliance by Customer with any law or regulation governing Customer’s conduct as a fiduciary, if applicable. 
  
 (b) Force Majeure and Acts of State. In the event that UBS-S LLC’s performance of any of its obligations and undertakings hereunder shall be
interrupted or delayed by any occurrence not occasioned by the conduct of either party hereto, whether such occurrence shall be an act of God or the common enemy or the result of war, riot, civil commotion, sovereign conduct or other acts of State,
or the act or conduct of any person or persons not party or privy hereto, then UBS-S LLC shall be excused from performance for such period of time as is reasonably necessary after such occurrence to remedy the effects thereof and neither UBS-S LLC
nor any of its managing directors, officers, employees or affiliates shall be directly or indirectly responsible for losses occasioned thereby. 
  
 (c) GLOBEX Waiver. In consideration of UBS-S LLC making GLOBEX services available, in whole or in part, directly or indirectly, Customer agrees
that neither UBS-S LLC, the Chicago Mercantile Exchange (“CME”), the Board of Trade of the City of Chicago (“CBOT”), any other exchange whose products may be traded on the GLOBEX System, the GLOBEX Joint Venture, L.P.
(“JV”), P-M-T Limited Partnership, Ceres Trading Limited Partnership, GLOBEX Corporation, Reuters America Inc., nor any other entities controlling, controlled by or under common control with such entities, nor their respective directors,
officers, or employees, shall be liable for any losses, damages, costs or expenses (including, but not limited to, loss of profits, loss of use, incidental or consequential damages), regardless of the cause, arising from any fault, delay, omission,
inaccuracy or termination of GLOBEX services, or the inability to enter or cancel orders, or any other cause in connection with the furnishing, performance, maintenance, or use of or 

  

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inability to use all or any part of the GLOBEX System or any JV, CME or CBOT facility or service. The foregoing shall apply regardless of whether a claim
arises in contract, tort, negligence, strict liability or otherwise. 
  
 (d) Indemnification of UBS-S LLC. Customer agrees to indemnify and hold UBS-S LLC and its managing directors, officers, employees and affiliates harmless from and against any and all costs (including reasonable attorneys’ fees),
losses, penalties, fines, taxes and damages incurred by UBS-S LLC as a result of any action taken or not taken by UBS-S LLC in reliance upon any instructions, notices and communications which UBS-S LLC believes to be that of an individual authorized
to act on behalf of Customer, or in connection with UBS-S LLC’s recovery of any such costs, losses, penalties, fines, taxes and damages. 
  

	12.	TERMINATION 

  
 This Agreement may be terminated at any time by Customer or UBS-S LLC by written notice to the other; provided, however, that any such termination shall
not relieve either party of any obligations in connection with any debit or credit balance in the Account or other liability or obligation arising or accruing prior to such termination. In the event of such notice, Customer shall either close out
open positions in the Account or arrange for such open positions to be transferred to another futures commission merchant. Upon satisfaction by Customer of all of Customer’s Liabilities, UBS-S LLC shall transfer to another futures commission
merchant all Contracts, if any, then held for the Account, and shall transfer to Customer or to another futures commission merchant, as Customer may instruct, all cash, securities and other property held in the Account, whereupon this Agreement
shall terminate. 
  

	13.	LIQUIDATION OF OFFSETTING POSITIONS 

  
 UBS-S LLC shall liquidate any Contract for which an offsetting order is entered by Customer, unless Customer instructs UBS-S LLC not to liquidate such
Contract and to maintain the offsetting Contracts as open positions; provided, that UBS-S LLC shall not be obligated to comply with any such instructions given by Customer if Customer fails to provide UBS-S LLC with any representations,
documentation or information reasonably requested by UBS-S LLC or if, in UBS-S LLC’s reasonable judgment, any failure to liquidate such offsetting Contracts against each other would result in a violation of Applicable Law. 
  

	14.	REPORTS AND OBJECTIONS 

  
 (a) All confirmations, purchase and sale notices, correction notices and account statements (collectively, “Reports”) shall be submitted to Customer and shall
be conclusive and binding on Customer unless Customer notifies UBS-S LLC of any objection thereto prior to the opening of trading on the contract market on which such transaction occurred on the business day following the day on which Customer
receives such Report; provided, that with respect to monthly statements, Customer may notify UBS-S LLC of any objection thereto within five business days after receipt of such monthly statement, provided the objection could not have been
raised at the time any prior Report was received by Customer as provided for above. Any such notice of objection, if given orally to UBS-S LLC, shall immediately (and in no event later than within one business day) be confirmed in writing by
Customer. 
  
 (b) Customer consents to the electronic delivery of Reports via
facsimile, electronic mail, computer networks (e.g., local area networks, commercial on-line services and SwisKey) or other electronic means agreed upon by Customer and UBS-S LLC. Customer may revoke its consent at any time upon reasonable notice to
UBS-S LLC. 
  

	15.	FOREIGN CURRENCY TRANSACTIONS 

  
 In the event that the Customer directs UBS-S LLC to enter into any Contract on an exchange on which such transactions are effected in a currency other
than the U.S. dollar, any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for the account and risk of the Customer. All initial and subsequent deposits for margin purposes, and the
return to the Customer of any funds, are expected to be made in the currency of contract settlement. Should the Customer elect to deposits funds other than the currency of settlement or instruct UBS-S LLC to convert funds which are already on
deposit in another currency, UBS-S LLC shall debit or credit the Account of Customer at a rate of exchange determined by UBS-S LLC in its sole discretion on the basis of the then prevailing market rate of exchange for such foreign currency.

  

	16.	UBS-S LLC’S RESPONSIBILITY 

  
 UBS-S LLC is not acting as a fiduciary, foundation manager, commodity pool operator, commodity trading advisor or investment adviser in respect of any
Account opened by Customer and UBS-S LLC shall have no responsibility hereunder for compliance with any law or regulation governing the conduct of fiduciaries, foundation managers, commodity pool operators, commodity trading advisors or investment
advisers. 
  

	17.	ADVICE 

  
 All advice communicated by UBS-S LLC with respect to any Account opened by Customer hereunder is incidental to the conduct of UBS-S LLC’s 

  

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business as a futures commission merchant, does not constitute an offer to sell or the solicitation of an offer to buy any Contract, and such advice will not
serve as the primary basis for any decision by or on behalf of Customer. UBS-S LLC shall have no discretionary authority, power or control over any decisions made by or on behalf of Customer in respect of the Account, regardless of whether Customer
relies on the advice of UBS-S LLC in making any such decision. Any such advice, although based upon information from sources UBS-S LLC believes to be reliable, may be incomplete or inaccurate, may not be verified and may be changed without notice to
Customer. UBS-S LLC makes no representation as to the accuracy, completeness, reliability or prudence of any such advice or information or as to the tax consequences of Customer’s futures or options trading. UBS-S LLC is a separate and
independent corporate entity, distinct from its affiliates and it shall be free to purchase and sell Contracts for any affiliates without limitation or restriction. The relationship between UBS-S LLC and Customer as described herein shall not affect
any provisions of credit to Customer by UBS AG or any other subsidiary of UBS AG. Moreover, Customer acknowledges that UBS-S LLC and its managing directors, officers, employees and affiliates may take or hold positions in, or advise other customers
concerning, contracts which are the subject of advice from UBS-S LLC to Customer. The positions and advice of UBS-S LLC and its managing directors, officers, employees and affiliates may be inconsistent with or contrary to positions of, and the
advice given by, UBS-S LLC to Customer. 
  

	18.	FINANCIAL AND OTHER INFORMATION 

  
 Customer agrees to furnish appropriate financial statements to UBS-S LLC and to inform UBS-S LLC of any material changes in the financial position of
Customer and to furnish promptly such other information concerning Customer as UBS-S LLC reasonably requests. UBS-S LLC is authorized from time to time to contact banks, financial institutions and credit agencies for verification of the financial
condition of Customer. Customer agrees that UBS-S LLC may, from time to time, share with its branches, agencies and affiliates, certain non-public information concerning Customer. 
  

	19.	RECORDING 

  
 UBS-S LLC, in its sole and absolute discretion, may record, on tape or otherwise, any telephone conversation between UBS-S LLC and Customer involving
their respective officers, agents and employees. Customer hereby agrees and consents to such recording, with or without the use of an automatic tone warning device, and waives any right Customer may have to object to the use or admissibility into
evidence of such recording in any legal proceeding between Customer and UBS-S LLC or in any other proceeding to which UBS-S LLC is a party or in which UBS-S LLC’s records are subpoenaed. Customer acknowledges that UBS-S LLC may erase such
recordings after a reasonable period of time. 
  

	20.	ACCOUNTS INTRODUCED BY OTHER BROKERS 

  
 If UBS-S LLC is carrying the Account of Customer as executing or clearing broker by arrangement with another broker through whose courtesy the Account has
been introduced to UBS-S LLC, then, until receipt from Customer of written notice to the contrary, UBS-S LLC may accept from such other broker, without inquiry or investigation by UBS-S LLC, (i) orders for the purchase or sale in the Account of
Contracts, and (ii) any other instructions concerning the Account. UBS-S LLC shall not be responsible or liable for any acts or omissions of such other broker or its employees. 
  

	21.	SEVERABILITY 

  
 If any provision of this Agreement is, or at any time becomes, inconsistent with any present or future Applicable Law, and if any of these authorities
have jurisdiction over the subject matter of this Agreement, the inconsistent provision shall be deemed superseded or modified to conform with such law, rule or regulation but in all other respects, this Agreement shall continue and remain in full
force and effect. 
  

	22.	BINDING EFFECT 

  
 This Agreement shall be binding on and inure to the benefit of the parties and their successors. UBS-S LLC shall have the right to transfer or assign this
Agreement (and thereby the Account) to any successor entity or to another properly registered futures commission merchant in its sole and absolute discretion and without then obtaining the consent of Customer. Customer hereby expressly consents to
any such transfer and assignment. 
  

	23.	ENTIRE AGREEMENT 

  
 This Agreement contains the entire agreement between the parties and supersedes any prior agreements between the parties as to the subject matter hereof.
No provision of this Agreement shall in any respect be waived, altered, modified, or amended unless such waiver, alteration, modification or amendment is signed by the party against whom such waiver, alteration, modification or amendment is to be
enforced. 
  

	24.	INSTRUCTIONS, NOTICES OR COMMUNICATIONS 

  
 (a) Except as specifically otherwise provided in this Agreement, all instructions, notices or other communications may be oral or written. All oral
instructions, unless custom and usage of trade dictate otherwise, shall be promptly confirmed in writing. All written instructions, notices or other 

  

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communications shall be addressed as follows: 
  

	 	(i)	if to UBS-S LLC: 

  
 UBS Securities LLC 
 677 Washington Blvd 
 Stamford, CT 06901 
 Attn: Client Services Representative 
  

	 	(ii)	if to Customer at the address as indicated on the New Account Information Form. 

  
 (b) All instructions, notices or other communications sent, whether by mail, telex, facsimile transmission or otherwise,
shall be deemed given when deposited in the mail, or sent by telex or facsimile transmission or other electronic means acceptable to the recipient thereof, and deemed delivered to Customer personally, whether actually received by Customer or not.
All instructions, notices or other communications to UBS-S LLC shall be directed to UBS-S LLC’s office at the address listed above or such other addresses as UBS-S LLC may hereafter direct to Customer in writing. 
  

	25.	RIGHTS AND REMEDIES CUMULATIVE 

  
 All rights and remedies arising under this Agreement as amended and modified from time to time are cumulative and not exclusive of any rights or remedies
which may be available at law or otherwise. 
  

	26.	NO WAIVER 

  
 No failure on the part of UBS-S LLC to exercise, and no delay in exercising, any contractual right will operate as a waiver thereof, nor will any single
or partial exercise by UBS-S LLC of any right preclude any other or future exercise thereof or the exercise of any other partial right. 
  

	27.	GOVERNING LAW 

  
 THE INTERPRETATION AND ENFORCEMENT OF THIS AGREEMENT AND THE RIGHTS, OBLIGATIONS AND REMEDIES OF THE PARTIES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS, WITHOUT REGARD TO PRINCIPLES OF CHOICE OF LAW. 
  

	28.	CONSENT TO JURISDICTION 

  
 Any litigation between UBS-S LLC and Customer relating to this Agreement or transactions hereunder shall take place in the Courts of the State of Illinois
located in Cook County or in the United States District Court for the Northern District of Illinois, and the parties agree to submit to such exclusive jurisdiction. Customer consents to the service of process by the mailing to Customer of copies of
such court filing by certified mail to the address of Customer as it appears on the books and records of UBS-S LLC, such service to be effective ten days after mailing. Customer hereby waives irrevocably any immunity to which it might otherwise be
entitled in any arbitration, action at law, suit in equity or any other proceeding arising out of or based on this Agreement or any transaction in connection herewith. 
  

	29.	WAIVER OF JURY TRIAL 

  
 Customer hereby waives trial by jury in any action or proceeding arising out of or relating to this Agreement or any transaction in connection herewith.

  

	30.	ACCEPTANCE OF AGREEMENT 

  
 This Agreement shall not be deemed to be accepted by UBS-S LLC or become a binding contract between Customer and UBS-S LLC until approved by a duly
authorized officer of UBS-S LLC in writing. 
  

	31.	CUSTOMER ACKNOWLEDGEMENTS 

  
 (a) CUSTOMER HEREBY ACKNOWLEDGES THAT IT HAS RECEIVED AND UNDERSTANDS THE FOLLOWING DISCLOSURE STATEMENTS FURNISHED HEREWITH (check where
applicable): 
  

	 ̈	Risk Disclosure Statement for Futures and Options 

  

 -7- 

 (b) (The following must be completed by Customers who will engage in transactions for hedging purposes
only.) Customer has indicated on the New Account Information Form that the Account is for hedging purposes. Customer represents that it is familiar with CFTC and exchange laws, rules, regulations, and advisories concerning hedging. Unless
Customer specifically notifies UBS-S LLC to the contrary in writing with respect to any transaction, all transactions effected for the Account will be bona fide hedging transactions as described in Section 4a of the Commodity Exchange Act, as
amended, and Rule 1.3(z) promulgated thereunder (a copy of which may be obtained from UBS-S LLC upon request). As such, in accordance with CFTC Rule 190.06, Customer may specify whether, in the unlikely event of UBS-S LLC’s bankruptcy, Customer
prefers that the trustee liquidate open commodity contracts in the Account without seeking Customer’s instructions. Accordingly, in the event of UBS-S LLC’s bankruptcy, the trustee should (check one of the following): 
  

	 ̈	Attempt to contact Customer for instructions regarding the disposition of open contracts in the Account. 

  

	 ̈	Liquidate open commodity contracts without seeking Customer’s instructions. 

  
 This instruction may be changed at any time by written notice sent to UBS-S LLC. 
  

 -8- 

 IN WITNESS WHEREOF, Customer has executed this Agreement on the date indicated below. 
  

											
				
	 	 	 	 	 	 	 
	(“Customer”)	 	 	 	 	 	 	 	 
						
	By	  	 	 	 	 	 	 	 	 	 
	 	  	 Print Name and Title
	 	 	 	 Signature
	 	 	 	 Date

						
	By	  	 	 	 	 	 	 	 	 	 
	 	  	 Print Name and Title
	 	 	 	 Signature
	 	 	 	 Date

	
	ATTESTED BY:
						
	By	  	 	 	 	 	 	 	 	 	 
	 	  	 Print Name and Title
	 	 	 	 Signature
	 	 	 	 Date

	
	ACCEPTED BY UBS SECURITIES LLC
						
	By	  	 	 	 	 	 	 	 	 	 
	 	  	 Print Name and Title
	 	 	 	 Signature
	 	 	 	 Date

						
	By	  	 	 	 	 	 	 	 	 	 
	 	  	 Print Name and Title
	 	 	 	 Signature
	 	 	 	 Date

  

 -9-Spectrum Manager Lease, dated November 12, 2004

 Exhibit 10.1 

  
 SPECTRUM MANAGER LEASE 
  
 between 
  
 AWS LICENSE NEWCO, LLC 
  
 and 
  
 AWS NETWORK NEWCO, LLC 
  
 Dated as of November 15, 2004 
  

 SPECTRUM MANAGER LEASE 
  
 THIS SPECTRUM MANAGER LEASE (this “Lease”), dated as of November 15, 2004 (the “Execution Date”),
is executed by and between AWS License Newco, LLC, a Delaware limited liability company (“Licensee”), and AWS Network Newco, LLC, a Delaware limited liability company (“Lessee”) (collectively the
“Parties”, or each, individually, a “Party”). 
  
 WHEREAS, Licensee holds each of the Federal Communications Commission (“FCC”) authorizations listed on Schedule 1 hereto (the “Licenses”); 
  
 WHEREAS, parent companies of Licensee and Lessee are among the parties to
that certain Exchange Agreement, dated as of September 21, 2004, by and among Triton PCS Holdings, Inc. (“Triton”), the Triton Contributing Entities, AT&T Wireless Services, Inc. (“AWS”), the AWS Contributing
Entities and Cingular Wireless LLC (“Cingular”) (the “Exchange Agreement”), under which, among other things, all of the membership interests in Licensee will be sold to a Triton affiliate (the “Member
Interest Purchase”), subject to regulatory approvals and other conditions (capitalized terms used herein which are not otherwise defined shall have the meanings assigned to them in the Exchange Agreement); 
  
 WHEREAS, the Parties desire to enable Lessee to obtain the use of the
spectrum associated with the Licenses (the “Leased Spectrum”) prior to the consummation of the Member Interest Purchase; 
  
 WHEREAS, the Parties desire to enter into a spectrum manager leasing arrangement (within the meaning of 47 C.F.R. § 1.9020) concerning the Leased
Spectrum, on the terms and subject to the conditions hereof, in order to memorialize their respective rights and responsibilities hereunder in accordance with the Communications Act of 1934, as amended, and the rules, regulations and policies of the
FCC (collectively, the “Communications Laws”). 
  
 NOW, THEREFORE, the Parties hereby agree as follows: 
  
 Section 1.
Lease Arrangement. 
  
 (a) Spectrum Usage
Rights. Subject to the terms and conditions set forth in this Lease, Licensee hereby grants Lessee exclusive rights to use the Leased Spectrum throughout the Term (as hereafter defined) (the “Spectrum Usage Rights”). 

 
 (b) Permitted Use; Regulatory Classification. Lessee shall operate
the System (as hereafter defined) and be regulated as a Commercial Mobile Radio Service (“CMRS”) carrier. Lessee may use the Leased Spectrum to offer any CMRS services (e.g., fixed or mobile) it determines, so long as such use or
services are not currently or hereafter prohibited under the terms and conditions of the Licenses or the Communications Laws. 
  
 (c) Scope of Spectrum Usage Rights. Subject to the review, supervision and ultimate control of Licensee with respect to matters reasonably
affecting Licensee’s ability to meet its obligations as an FCC licensee applicable to the Licenses as set forth in Section 3 hereafter, any use restrictions applicable to the Licenses, and the terms and conditions of this Lease, the Spectrum
Usage Rights granted hereunder convey to Lessee the exclusive right to construct, operate and maintain facilities operating over the Leased Spectrum (the “System”). 

 (d) Exclusivity. Throughout and until the expiration or earlier termination of the Term, except as
otherwise expressly provided in this Lease, Lessee shall have the exclusive right to use the Leased Spectrum and exercise the Spectrum Usage Rights granted herein. Licensee shall not enter into any other agreement (including any agreement for the
lease, partition, disaggregation, underlay use, time sharing or similar document) during the Term with any person or entity other than Lessee with respect to the Leased Spectrum without the prior written consent of Lessee. 
  
 (e) Security Interest. Lessee shall only have the right to pledge,
mortgage, hypothecate or otherwise grant a security interest or create a lien in its Spectrum Usage Rights to one or more financial institutions pursuant to a credit arrangement for money borrowed (not related solely or primarily to the Spectrum
Usage Rights) and, in such case, only in accordance with applicable law. 
  
 Section 2. Obligations of Lessee. 
  
 (a)
General Obligations. Subject to the review, supervision and ultimate control of Licensee over matters reasonably affecting the Licenses and Licensee’s ability to meet its FCC obligations as set forth in Section 3, Lessee shall be
obligated: 
  
 (i) to promptly provide to
Licensee such information (A) in a timely manner with regard to any service disruption relating to use of the Leased Spectrum, and (B) as Licensee reasonably requests and requires (I) regarding any construction or alteration of facilities proposed
by Lessee and (II) any deactivation of facilities; 
  
 (ii) to timely cooperate with and aid Licensee with whatever actions Licensee is required to take, if any, in order to obtain the approvals or consents of any governmental authority to this Lease; 
  
 (iii) to use commercially reasonable efforts to operate the
System on the Leased Spectrum consistent with and as may be required by the Communications Laws or the laws of any other governmental body, this Lease, and the terms and conditions of the Licenses (including eligibility, basic and character
qualifications requirements, foreign ownership and use restrictions, and regulations intended to prevent harmful interference to any other licensed spectrum user); 
  
 (iv) to satisfy the eligibility, qualification and all other requirements imposed on spectrum lessees under
spectrum manager leasing arrangements of 47 C.F.R. § 1.9020, including, but not limited to, the general eligibility rules set forth in 47 C.F.R. § 1.9020(d)(2); 
  
 (v) to comply with any and all applicable requirements of the Licenses or arising under the Communications
Laws, including, but not limited to those relating to: interference and radio frequency (“RF”) safety rules for human exposure; the Communications Assistance for Law Enforcement Act (“CALEA”), 47 U.S.C. §§
229, 
  

 2 

 1001 et seq., 47 C.F.R. Part 64, Subparts V and W; Equal Employment Opportunity
(“EEO”), 47 C.F.R. §§ 1.815, 22.321; Telecommunications Relay Service (“TRS”), 47 U.S.C. § 225, 47 C.F.R. Part 64, Subpart F; North American Numbering Plan (“NANP”), 47 U.S.C. §
251(e), 47 C.F.R. Part 52; universal service funds, 47 U.S.C. § 254, 47 C.F.R. §§ 54.706, 54.709; and number portability, 47 U.S.C. § 251(b)(2), 47 C.F.R. Part 52, Subpart C; 
  
 (vi) to take whatever actions are reasonably necessary to
resolve any interference-related matters arising from operation of the System it may construct and operate on the Leased Spectrum, including but not limited to any conflicts between Lessee and any other licensed spectrum user; and 
  
 (vii) to comply with any and all obligations that apply to
Lessee directly as a result of its own status as a service provider. 
  
 (b) Equipment. 
  
 (i) Lessee
shall have the right to purchase or lease, install and maintain at its own expense all equipment, including but not limited to towers, transmission lines, antennas, microwave facilities, transmitters and related equipment, that is necessary for its
operations utilizing the Leased Spectrum. Except as specifically set forth in this Lease, Licensee shall have no right to install, use, access, perform maintenance or operate any equipment that Lessee purchases, installs or acquires to facilitate
Lessee’s use of the Leased Spectrum, which rights shall remain at all times vested with Lessee. 
  
 (ii) Upon any termination of this Lease, Lessee shall promptly terminate its use of the Leased Spectrum. 
  
 (c) FCC Compliance. Lessee acknowledges and agrees that, as required
by applicable Communications Laws, Licensee shall be primarily responsible for ensuring that (i) the Licenses and (ii) the Leased Spectrum (including but not limited to Lessee’s operations in connection therewith and performance hereunder) are
utilized in compliance with the Communications Laws, including, but not limited to, responsibility for all interactions with the FCC related to the Licenses and the Leased Spectrum. Lessee agrees that Lessee shall be independently responsible for
full compliance with the Communications Laws, including those Communications Laws applicable to the Leased Spectrum or Lessee as a result of Lessee’s status as a service provider in connection with its obligations under this Lease, and any
other applicable laws. Lessee acknowledges that it shall remain independently responsible to Licensee and the FCC for complying with the foregoing, and agrees that it shall not construct or operate any facility utilizing the Leased Spectrum in a
manner inconsistent with, contrary to, or in violation of, these requirements. Lessee hereby represents and warrants that it is familiar with the Communications Laws and further covenants and agrees that it shall operate on and utilize the Leased
Spectrum at all times in material compliance with the Communications Laws, FCC requirements associated with the Licenses, and all other applicable laws. If Lessee’s operation on or utilization of the Leased Spectrum would reasonably be expected
to result in the revocation or termination or the adverse modification of the Licenses, such operation or utilization shall by definition constitute material non-compliance with the Communications Laws and a material breach of Lessee’s
obligations hereunder. 
  

 3 

 (d) Notification of Violation or Material Changes; Cooperation. Lessee shall promptly notify
Licensee of the occurrence of any (i) violations, or inquiries or allegations of violations, which relate to Lessee’s operation of the System or use of the Leased Spectrum, (ii) inquiries or regulatory proceedings initiated with respect to the
Lease, or (iii) inquiries or regulatory proceedings regarding Lessee’s qualifications to hold FCC licenses in general or be a spectrum lessee of which Lessee becomes aware. Lessee shall also promptly inform Licensee about any other
communications with the FCC or other governmental authority concerning Lessee’s use of the Leased Spectrum and Licensee’s obligations as a spectrum lessor under the Communications Laws. In the event the FCC or other governmental authority
initiates an investigation or inquiry concerning Lessee in connection with this Lease or any of Lessee’s actions or operations hereunder, Lessee agrees to promptly notify Licensee and to cooperate with Licensee, the FCC, or such other
governmental authority. 
  
 Section 3. Rights and Obligations of
Licensee. 
  
 (a) Oversight of Lessee’s
Operations on the Leased Spectrum. Throughout the Term, Licensee shall have the right to take such actions as are reasonably necessary to ensure that Lessee’s operation of the System complies with the Communications Laws, this Lease, and
the terms and conditions of the Licenses (including conformance with applicable license eligibility, basic qualifications, character qualifications and technical requirements, and use and foreign ownership restrictions). Lessee hereby acknowledges
Licensee’s right to take such actions as are reasonably necessary to meet this obligation, and that Licensee may: 
  
 (i) periodically (and at Licensee’s sole cost) monitor and oversee Lessee’s use of the Spectrum Usage Rights to ensure Lessee
operates the System in conformance with technical and use rules applicable to the Licenses; 
  
 (ii) take actions that are reasonably necessary to ensure that Lessee’s operation of the System complies with the Communications Laws
and regulations intended to prevent harmful interference to any other licensed spectrum user; 
  
 (iii) require that Lessee implement, at Lessee’s cost, any modification or coordination that is reasonably necessary to avoid or
otherwise resolve harmful interference or any interference-related matters arising from operation of the System, including any conflicts between Lessee and any other licensed spectrum user, which actions may include but are not limited to suspending
or terminating the operations of the System until any interference-related matter can be remedied; 
  
 (iv) make determinations as to whether particular circumstances give rise to the requirement of filing an application or notification in
accordance with Section 6 of this Lease, and if so, with Lessee’s cooperation, make such filing or notification; 
  
 (v) take whatever actions are reasonably necessary to ensure that all facilities comprising the System comply with all applicable RF
safety rules for human exposure promulgated by the FCC or any other governmental authority; and 
  
 (vi) communicate with the FCC on matters related to the Licenses. 
  

 4 

 (b) Maintenance of Licenses. Licensee shall take such commercially reasonable actions as are
necessary and required under the Communication Laws to maintain the Licenses in full force and effect throughout the Term. Licensee will undertake to timely file any application required for the renewal of the License prior to the expiration of the
term of the License. Licensee shall maintain the validity and good standing of the License, and shall defend the License from all claims and challenges. Licensee shall notify Lessee promptly upon learning of any claim or challenge to the License.
Licensee shall comply with all applicable requirements arising under the Communications Laws, including but not limited to all of the requirements imposed on lessors under spectrum manager leasing arrangements by 47 C.F.R. § 1.9020. For the
avoidance of doubt, Licensee shall be obligated to satisfy, at its sole cost and expense, the FCC’s E-911 requirements set forth in 47 C.F.R. § 20.18 throughout the Term. 
  
 (c) FCC Interactions. Throughout the Term, Licensee shall be the party primarily responsible for dealing with the FCC
on all matters directly relating to the Licenses and the Spectrum Usage Rights granted under this Lease, provided, however, that nothing contained herein shall restrict Lessee from interfacing with the FCC (i) on policy matters solely relating to
Lessee’s use of the Leased Spectrum or on matters imposed under the Communications Laws on Lessee as a result of its provision of common carrier services to its customers on the System, or (ii) on inquiries specifically directed to Lessee (as
opposed to Licensee) by the FCC. Licensee shall give Lessee reasonable prior notice of any meetings between FCC representatives and Licensee representatives which involve or relate to Lessee’s use of the Leased Spectrum. Upon reasonable advance
request, Lessee shall have the right to, and at the request of Licensee, Lessee shall, attend any such meetings with the FCC which involve or relate to Lessee’s use of the Leased Spectrum. Licensee shall permit Lessee to participate in any such
meetings with the FCC to the extent permitted by the FCC and the Communications Laws. 
  
 (d) Notification of Violations or Material Changes; Cooperation. Licensee shall promptly notify Lessee of the occurrence of any event or the initiation of any litigation, investigation, proceeding or inquiry by
the FCC or any governmental authority which could reasonably be expected to have a material impact or result in a material change in the ownership or operation of the License or Lessee’s Spectrum Usage Rights under this Lease. In the event that
the FCC or any other governmental authority initiates an investigation or inquiry concerning Licensee or Lessee in connection with this Lease or any of the performances rendered hereunder, Licensee agrees to cooperate with Lessee, the FCC or other
governmental authority. 
  
 Section 4. Control of Licenses and Leased
Spectrum. 
  
 Notwithstanding any other provision of this
Lease, during the Term hereof, Licensee shall remain in de jure and de facto control of the Licenses and of the Leased Spectrum under the Communications Laws. This Lease (i) does not and shall not vest in Lessee, or constitute, create
or have the effect of constituting or creating, de facto or de jure control, direct or indirect, over Licensee or the Licenses, which ownership or control remains exclusively and at all times in Licensee and (ii) does not and shall not
constitute the transfer, assignment or disposition in any manner, voluntary or involuntary, directly or indirectly, of the Licenses or the transfer of control of Licensee within the meaning of Section 310(d) of the Communications Laws for spectrum
leasing purposes. During the Term, Lessee shall not take any action inconsistent with or contrary to Licensee’s de jure and de facto control, as those terms are construed by the FCC, over the Licenses and the Leased Spectrum,
respectively. During the Term, Lessee shall not hold itself out to the public as the holder of the Licenses. 
  

 5 

 Section 5. Coordination; Oversight/Right of Access; Lease Extension. 
  
 (a) Coordination. To enable Licensee to assure that Lessee’s
activities on the Leased Spectrum and the operation of the System comply with the Communications Laws, Lessee and Licensee shall meet periodically at Licensee’s request to discuss matters reasonably relating to Lessee’s construction and
operation of the System to the extent such knowledge of such matters is required by Licensee to ensure compliance with the Communications Laws. Upon Licensee’s request, and subject to Licensee’s prior execution of such confidentiality
agreements as Lessee may reasonably request, Lessee shall provide Licensee with reasonable access to Lessee’s books and records with respect to its operation of the System, showing (i) all technical and operational information related to the
use of the Leased Spectrum by the System and (ii) any and all other records necessary, convenient or incidental to construction, maintenance or operation of the System, provided, however, that Lessee shall not be required to provide trade secrets or
other competitive, proprietary or non-public information if such information is not reasonably necessary for Licensee to meet its oversight responsibilities under the Communications Laws. 
  
 (b) Oversight/Right of Access. Licensee shall have a right, upon at least twenty-four (24) hours advance notice, to
inspect during normal business hours any facility comprising the System that utilizes the Leased Spectrum and to take any action it deems reasonably necessary to fulfill its obligations under this Lease or the Communications Laws. Lessee shall have
the right to require that an escort selected by Lessee accompany Licensee to any on-site visit to Lessee’s facilities. Notwithstanding the foregoing, Licensee may access any System facility upon such shorter advance notice as is possible under
the circumstances in the event the System’s operation causes objectionable interference to another spectrum user, and, at the FCC’s request, the FCC shall have access to any System facility at any time and from time to time in accordance
with the FCC’s access policies. 
  
 (c) Lease
Extension. In the event that this Lease has not earlier terminated in accordance with the provisions of Section 7 below prior to the 270th day of the Term, Licensee and Lessee agree to extend this Lease by jointly executing a lease amendment which is substantially in the form attached hereto as Exhibit 1. Such amendment shall be executed by the Parties in
sufficient time to allow the Parties to prepare and file the spectrum manager lease notifications required by 47 C.F.R. § 1.9020(e)(1)(ii) at least 21 days before this Lease is due to expire. 
  
 Section 6. Notifications; Applications. 
  
 (a) Lease Arrangement Notification. Licensee shall prepare and file
with the FCC all forms and related exhibits, certifications and other documents necessary to satisfy the FCC’s requirements for “spectrum manager” lease notifications, as set forth in 47 C.F.R. § 1.9020(e) (“FCC Lease
Arrangement Notification”) in accordance with the provisions of the Exchange Agreement. Each Party covenants and agrees that it shall fully cooperate with the other, and do all things reasonably necessary to timely submit the FCC Lease
Arrangement Notification to the FCC and shall promptly file or provide the other Party with all other information which is required to be provided to the FCC in furtherance of the transactions contemplated hereby. In the 
  

 6 

 event that a lease extension is executed in accordance with Section 5(c), Licensee shall prepare and file with the FCC an
FCC Lease Arrangement Notification at least twenty-one (21) days prior to the expiration of the Renewal Term of this Lease. 
  
 (b) New Sites or Modified Sites. To the extent that any construction of, or modification to, any part of the System by Lessee requires the Licensee
to make a prior filing with or notification to, or to obtain the approval of, the FCC, another governmental authority or a non-governmental third party (including without limitation any state historic preservation officer), then Lessee shall not
undertake any such construction or modification until, following reasonable consultation with Lessee, Licensee has determined whether an application (a “Facility Filing”) for any of the following is required: (i) frequency
coordination; (ii) submission of an Environmental Assessment under 47 C.F.R. § 1.1307; (iii) international or Interdepartment Radio Advisory Committee (“IRAC”) coordination; (iv) radio quiet zone reporting; (v) notification to
the Federal Aviation Administration; (vi) construction or alteration of a microwave facility under 47 C.F.R. Part 101; or (v) any waivers of the Communications Laws. If a Facility Filing is necessary before construction of or modification to any
part of the System, Lessee shall timely prepare and provide to Licensee all necessary application forms, exhibits, filing fees and other materials necessary for Licensee to make such submission in its own name. Licensee shall make such filings
promptly and in any event not more than five (5) business days following Licensee’s receipt from Lessee of such materials or such earlier day as required under applicable law. No construction or modification to the System shall occur unless any
Facility Filings required to have been made prior to such construction have been made and, if required, approved by such governmental authority. 
  
 (c) Compliance Applications. Licensee shall be solely responsible for filing any on-going compliance reports required by the FCC or any other
governmental authority as a result of its ownership of the Licenses and Lessee’s use of the Leased Spectrum. If Lessee should believe that a compliance filing is required, Lessee shall notify Licensee, and Licensee shall thereafter take all
actions required to timely file any report required to be filed by FCC rules, with any reasonable cooperation from Lessee to Licensee as is reasonably necessary. 
  
 Section 7. Term; Termination; Renewal; Extension. 
  
 (a) The rights and obligations created under this Lease shall become effective on the date (the “Effective Lease
Date”) which is the later of (1) ten (10) days following the filing of the FCC Lease Arrangement Notification, and (2) the date of the First Closing (as defined in the Exchange Agreement). The rights and obligations created under this Lease
shall continue for an initial term of 180 days (the “Initial Term”), unless otherwise terminated in accordance with this Lease. The term of this Lease shall be automatically extended for an additional 180-day period (the
“Renewal Term”) if the Member Interest Purchase has not been consummated by the end of the Initial Term. The Initial Term and Renewal Term, if any, shall constitute the “Term” of this Lease. 
  
 (b) Termination. This Lease shall automatically terminate: 

 
 (i) upon consummation of the Member Interest Purchase;

  

 7 

 (ii) with respect to all or any part of the Leased Spectrum, upon the effective date of
any order of the FCC or any other governmental authority revoking, canceling or terminating the License covering that Leased Spectrum, either by reason of the non-renewal at the end of its initial license term or by operation of law, provided,
however, that the Parties shall cooperate in an effort to cause the Term to be extended during the pendency of any appeal of any such order, or during the FCC’s consideration of any application for renewal of license; 
  
 (iii) upon the effective date of any order of the FCC or any
other governmental authority revoking, canceling, or terminating this Lease or either Party’s rights hereunder, provided, however, that the Parties shall cooperate in an effort to cause the Term to be extended during the pendency of any appeal
of any such order; 
  
 (iv) with respect to all
or any part of the Leased Spectrum, if such Leased Spectrum is lawfully reclaimed or taken by the FCC or any other governmental authority; or 
  
 (v) upon the termination prior to the First Closing (for any reason) of the Exchange Agreement. 
  
 (c) Limited Cross Default. This Lease may be terminated by Licensee in
the event the Virginia Lease is terminated pursuant to the provisions thereof for any reason other than a material uncured breach by Licensee (in its role as lessee under such agreement). 
  
 (d) Effect of Termination. Termination of this Lease for any reason shall not relieve any Party of any liability
which at the time of termination has already accrued to such Party or which thereafter may accrue in respect of any law or omission prior to such termination, including, but not limited to, the indemnification obligations as set forth in Section 11,
or the survival of any right, duty or obligation of any Party which is expressly stated elsewhere in this Lease to survive termination hereof; provided, however, if this Lease is terminated in accordance with Section 7(b)(v) above, no party shall be
liable to any other party hereto for any damages, costs or expenses related to its default or breach in any of its obligations, representations and warranties or for any other reason under this Lease. Additionally, in the event of a termination of
this Lease, for any reason, Lessee agrees to cooperate in good faith with Licensee and to take such actions as are reasonable and necessary to enable Licensee to protect and preserve the Licenses. 
  
 (e) Renewal. Licensee shall make a timely application for renewal of
any of the Licenses that is due to expire during the Term. Licensee’s application for renewal of any such License shall contain an express notification to the FCC that the Term will extend into the renewal term of the License, it being
expressly understood that the Term shall automatically extend during the pendency of the FCC’s consideration of the renewal application. 
  
 (f) Extension of Term. If any License is renewed pursuant to the preceding section, the Term shall be automatically extended into the renewal term
of the License. 
  

 8 

 Section 8. Financial Terms of Lease Arrangement. 
  
 (a) Lease Arrangement Consideration. The Parties are entering into
this Lease, and Licensee is making available the Spectrum Usage Rights hereunder, as part of the set of transactions described in the Exchange Agreement. The consideration for making available the Spectrum Usage Rights hereunder is subsumed in the
consideration set forth in those agreements; Lessee therefore shall not be required to make any spectrum lease payments to Licensee hereunder. 
  
 (b) Regulatory Fees. Lessee shall be responsible for paying to Licensee (or directly to the FCC if permitted) at least fifteen (15) days before
they may be due, all required FCC regulatory fees accruing by reason of Lessee’s operation of the System on the Leased Spectrum, except for any such fees that may be assessed directly on Lessee by reason of its operation of a CMRS System
pursuant to 47 C.F.R. § 1.1152, which fees Lessee shall pay directly to the FCC on or before the date such fees are due and payable. 
  
 (c) Sales and Use Taxes. Lessee shall be responsible for billing, collecting, reporting, and remitting, when such taxes are due and payable, any
and all sales or use taxes directly related to Lessee’s use of the Leased Spectrum and the services provided thereon. 
  
 Section 9. Express Covenants and Agreements (FCC). 
  
 Notwithstanding anything contained herein to the contrary, the Parties agree that the following FCC rule provisions shall apply: 
  
 (i) Lessee must comply at all times with applicable rules
set forth in the Communications Laws and any other applicable laws. In addition to Licensee’s right to take certain remedial actions provided by 47 C.F.R. § 1.9010(b) (1) (iii) (or any successor provision), this Lease may be revoked,
cancelled, or terminated by Licensee or by the FCC if Lessee fails to comply with the applicable requirements; 
  
 (ii) If any of the Licenses is revoked, cancelled, terminated or otherwise ceases to be in effect, Lessee shall have no continuing
authority or right to use the Leased Spectrum covered by that license unless otherwise authorized by the FCC; 
  
 (iii) This Lease is not an assignment, sale or transfer of the Licenses themselves; 
  
 (iv) This Lease shall not be assigned to any entity that is
ineligible or unqualified to enter into a spectrum leasing arrangement under the Communications Laws; and 
  
 (v) Licensee shall not consent to an assignment of this Lease unless such assignment complies with applicable Communications Laws.

  
 Section 10. Representations, Warranties and Covenants.

  
 EXCEPT AS MAY BE EXPRESSLY PROVIDED IN THE EXCHANGE
AGREEMENT, NEITHER PARTY MAKES TO THE OTHER ANY REPRESENTATION OR 
  

 9 

 WARRANTY, EITHER EXPRESS OR IMPLIED, CONCERNING THE SUBJECT MATTER OF THIS LEASE, INCLUDING, WITHOUT LIMITATION,
WARRANTIES REGARDING THE LICENSES. 
  
 Section 11. Indemnification;
Limitation of Liability. 
  
 (a) Indemnification by
Lessee. Lessee shall indemnify and hold harmless Licensee and its Affiliates, and their respective successors and assigns, and the shareholders, directors, officers, employees and agents of any and all of the foregoing (the “Licensee
Indemnified Persons”), from and against any and all losses incurred or suffered by any Licensee Indemnified Person arising out of, in connection with or relating to (i) any breach of any of the representations or warranties made by Lessee
in this Lease, (ii) any failure by Lessee to perform any of its covenants or agreements contained in this Lease, or (iii) any claims by third parties arising out of, in connection with or relating to the use of the Leased Spectrum, the exercise of
the Spectrum Usage Rights, or the operation of the System or any part thereof, including any Equipment utilized therein, after the Effective Lease Date, except, with respect to clauses (i), (ii) and (iii), to the extent such breach or failure, as
applicable, was caused by a breach of this Lease by Licensee. Licensee acknowledges and agrees that its sole and exclusive remedy with respect to the claims for breach of representations, warranties or agreements contained in this Lease shall be
pursuant to the indemnification provisions set forth in this Section 11. 
  
 (b) Indemnification by Licensee. Licensee shall indemnify and hold harmless Lessee and its Affiliates, and their respective successors and assigns, and the shareholders, directors, officers, employees and
agents of any and all of the foregoing (the “Lessee Indemnified Persons”), from and against any and all losses incurred or suffered by any Lessee Indemnified Person arising out of, in connection with or relating to (i) any breach of
any of the representations or warranties made by Licensee in this Lease, or (ii) any failure by Licensee to perform any of its covenants or agreements contained in this Lease, except with respect to clauses (i) and (ii), to the extent such breach or
failure, as applicable, was caused by a breach of this Lease by Lessee. Lessee acknowledges and agrees that its sole and exclusive remedy with respect to the claims for breach of representations, warranties or agreements contained in this Lease
shall be pursuant to the indemnification provisions set forth in this Section 11. 
  
 (c) Limitation of Liability. In no event shall any Party be liable for indirect, special, consequential or punitive damages arising out of a breach of this Lease, even if advised at the time of breach of the
possibility of such damages, except for losses arising out of any grossly negligent, willful or fraudulent act or omission, or out of any breach of this Section 11 (Indemnification) or Section 12(m) (Confidentiality). 
  
 Section 12. Miscellaneous. 
  
 (a) Document Inspection. Each Party shall retain a duly executed copy
of this Lease (including any amendments thereto) in its files, and shall provide the FCC or any other governmental body with a photocopy of those portions of the Lease to the extent requested by the FCC or such governmental body. 
  
 (b) Entire Agreement. This Lease and the Exchange Agreement
collectively represent the entire understanding and agreement of the Parties with respect to the subject matter 
  

 10 

 of this Lease. This Lease supersedes all prior representations, warranties, covenants, understandings, agreements,
written or oral, discussions, or negotiations among the parties with respect to the subject matter hereof, including without limitation that certain non-binding letter of intent by and among Triton, AWS and Cingular dated July 7, 2004, and cannot be
amended, supplemented or changed, except by an agreement in writing that makes specific reference to this Lease and that is signed by each of the parties hereto. Each Party hereby represents, acknowledges and agrees that it has not relied on any
representation, warranty, covenant, understanding, agreement, written or oral, discussion, or negotiation not expressly contained herein in entering into this Lease or the Exchange Agreement. Each Party hereby represents, acknowledges and agrees
that this Lease and the Exchange Agreement are independent of, and not in any way conditioned on, connected to, or to be construed with any other agreement or arrangement, written or oral, between the Parties, except as may otherwise be expressly
set forth herein or therein. 
  
 (c) Construction and
Interpretation. No Party will be deemed to be the draftsman hereof. Accordingly, neither this Lease nor any uncertainty or ambiguity herein will be conclusively construed or resolved against any Party hereto, whether under any rule of
construction or otherwise. This Lease has been reviewed, negotiated and accepted by all Parties. All references to “Licensee” and “Lessee” in this Lease apply on a market-specific basis to each of the Licensees listed in Schedule
1 hereto. Each of the rights and obligations hereunder in any market covered by a License are independent of those applicable in any other market. 
  
 (d) Amendments and Waivers. No alteration, modification or change of this Lease shall be valid except by an agreement in writing executed by the
Parties hereto. Except as otherwise expressly set forth herein, no failure or delay by any Party hereto in exercising any right, power or privilege hereunder (and no course of dealing between or among any of the Parties) shall operate as a waiver of
any such right, power or privilege. No waiver of any default on any one occasion shall constitute a waiver of any subsequent or other default. No single or partial exercise of any such right, power or privilege shall preclude the further or full
exercise thereof. 
  
 (e) Assignment/Sublease. Either Party
may assign or transfer this Lease, or the rights and obligations hereunder, to an entity that controls, is controlled by or is under common control with the assigning or transferring Party, provided that (a) the assignee or transferee agrees in
writing to be bound by all of the terms and conditions of the assigning or transferring Party, and (b) the assigning or transferring Party gives written notice of the assignment or transfer to the other Party to this Lease. Until such time as this
Lease is extended pursuant to Section 5(c), neither Party may assign or transfer this Lease, or the rights and obligations hereunder, nor may Lessee sublease, to an unaffiliated third party unless (w) the other Party consents to such assignment in
writing, (x) all requisite government approvals to the assignment or transfer (including but not limited to the approval of the FCC if necessary) have been received, and (y) the assignee or transferee agrees in writing to be bound by all of the
terms and conditions of the assigning or transferring Party, and (z) the assigning or transferring Party gives written notice of the assignment or transfer to the other Party to this Lease. From and after the date this Lease is extended pursuant to
Section 5(c), if applicable, neither Party may assign or transfer this Lease, or the rights and obligations hereunder, nor may Lessee sublease, to an unaffiliated third party unless (w) the other Party consents to such assignment in writing, which
consent shall not be unreasonably withheld, (x) all requisite government approvals to the assignment or transfer 
  

 11 

 (including but not limited to the approval of the FCC if necessary) have been received, and (y) the assignee or
transferee agrees in writing to be bound by all of the terms and conditions of the assigning or transferring Party, and (z) the assigning or transferring Party gives written notice of the assignment or transfer to the other Party to this Lease.
Subject to the foregoing, this Lease shall be binding upon and shall inure to the benefit of the Parties and their respective successors, transferees and assigns. In the event of a valid assignment or sublease, Licensee and the assignee/sublessee
shall timely prepare and file the appropriate FCC application or notification consistent with applicable requirements of the Communications Laws, and any such assignment or sublease shall not become effective until any required FCC consents have
been obtained or the applicable waiting periods, if any, have elapsed. Notwithstanding anything to the contrary in this Lease, in no event shall Licensee be deemed to have consented to an assignment or sublease: (i) not in compliance with the
Communications Laws and any other applicable laws; (ii) made to a person or entity that is ineligible or unqualified to enter into a spectrum leasing arrangement under the Communications Laws; or (iii) made to a person or entity not in privity with
Licensee. Any assignment or sublease shall be null and void if it is in violation of any of the foregoing restrictions. 
  
 (f) Governing Law. THIS LEASE SHALL BE GOVERNED, CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE (WITHOUT REGARD TO THE
CHOICE OF LAW PROVISIONS THEREOF). THE PARTIES HERETO HEREBY IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF ANY FEDERAL OR STATE COURT LOCATED WITHIN THE STATE OF DELAWARE FOR ANY ACTION OR PROCEEDING IN RESPECT OF ANY CLAIM ARISING OUT OF OR
RELATED TO THIS LEASE OR THE TRANSACTIONS CONTEMPLATED HEREBY, AND AGREE THAT SUCH COURTS SHALL BE AN APPROPRIATE FORUM WITH RESPECT TO ANY SUCH ACTION OR PROCEEDING. THE PARTIES HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY OBJECTION WHICH THEY MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH DISPUTE BROUGHT IN SUCH COURT OR ANY DEFENSE OF INCONVENIENT FORUM FOR THE MAINTENANCE OF SUCH DISPUTE. EACH OF THE PARTIES HERETO AGREES THAT A
JUDGMENT IN ANY SUCH DISPUTE MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. 
  
 (g) Notices. All notices, demands and requests required or permitted to be given under the provisions of this Lease shall be (i) in writing, (ii)
sent by facsimile (with receipt personally confirmed by telephone), delivered by personal delivery, or sent by commercial delivery service or certified mail, return receipt requested, (iii) deemed to have been given on the date telecopied with
receipt confirmed, the date of personal delivery, or the date set forth in the records of the delivery service or on the return receipt, and (iv) addressed as follows: 
  
 If to Licensee (and to Lessee prior to the First Closing): 
  
 AWS License Newco, LLC 
 c/o Cingular Wireless LLC 
 5565 Glenridge Connector 
 Atlanta, GA 30342 
 Attention: General Counsel 
 Telecopy: (404) 236-6145 
 Telephone: (404) 236-6000 
  

 12 

 with a copy (which shall not alone constitute notice) to: 
  
 Cingular Wireless LLC 
 5565 Glenridge Connector 
 Atlanta, GA 30342 
 Attention: Vice President - Treasury 
 Telecopy: (404) 236-6205 
 Telephone: (404) 236-6200 
  
 with a copy (which shall not alone constitute notice) to: 
  
 Cingular Wireless LLC 
 5565 Glenridge Connector 
 Atlanta, GA 30342 
 Attention: Chief Counsel - Mergers & Acquisitions 
 Telecopy: (404) 236-5578 
 Telephone: (404) 236-5541 
  
 with a copy (which shall not alone constitute notice) to: 
  

Wilkinson Barker Knauer, LLP 
 2300 N Street, NW, Suite 700 
 Washington, DC 20037 
 Attention: Jonathan V. Cohen 
 Telecopy: (202) 783-5851 
 Telephone: (202) 783-4141 
  
 If to Lessee (from and after the First Closing): 
  
 Triton PCS Holdings, Inc. 
 1100 Cassatt Road 
 Berwyn, PA 19312 
 Attention: Legal Department 
 Telecopy: (610) 722-4288 
 Telephone: (610) 722-4280 
  

 13 

 with a copy (which shall not alone constitute notice) to: 
  
 Dow, Lohnes & Albertson, PLLC 
 1200 New Hampshire Avenue, NW 
 Washington, DC 20036 
 Attention: Leonard J. Baxt 
 Telecopy: (202) 776-2222 
 Telephone: (202) 776-2528 
  
 (h)
Expenses. Except as otherwise expressly provided in this Lease or any other agreement or instrument between the Parties or their affiliates, each Party shall bear its respective expenses (including, but not limited to, all compensation and
expenses of counsel, financial advisors, consultants, actuaries and independent accountants) incurred in connection with the drafting, execution and performance of this Lease. All filing fees required to be paid to the FCC or any other governmental
authority in connection with the performance of this Lease shall be borne by Lessee. 
  
 (i) Partial Invalidity. If any provision of this Lease or the application thereof to any Person or circumstance shall be invalid or unenforceable to any extent, the remainder of this Lease and the application
of such provision to other Persons or circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted by law. Upon such determination that any term or other provision is invalid or unenforceable, the Parties hereto
shall negotiate in good faith to modify this Lease so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the greatest extent possible.

  
 (j) Waiver of Jury Trial. Each Party waives its right
to a jury trial in any court action arising between the Parties, whether under or otherwise related to this Lease, and whether made by claim, counterclaim, third-party claim or otherwise. 
  
 (k) Counterparts. This Lease may be executed and delivered (including by facsimile transmission) 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. 
  
 (l) Headings. The headings of the articles and sections herein are inserted for convenience of reference only and are not intended to be a part of
or to affect the meaning or interpretation of this Lease. 
  
 (m)
Confidentiality; No Public Announcement. No Party shall, without the approval of the other, make any press release or other public announcement concerning the transactions contemplated by this Lease or disclose the terms and conditions of
this Lease to any third party, except as and to the extent that any such Party shall be so obligated by law or regulation, in which case the other Party shall be advised and the Parties shall use their reasonable efforts to cause a mutually
agreeable release or announcement to be issued, provided, that the foregoing shall not preclude communications or disclosures necessary to implement or comply with the provisions of this Lease or to comply with accounting or Securities and Exchange
Commission disclosure obligations or applicable FCC disclosure obligations. 
  

 14 

 (n) Force Majeure. Neither Party shall be liable for any delay or failure in performance of any
part of this Lease where such failure or delay is caused by force majeure, as defined under the law controlling this Lease, including, without limitation, acts of nature, acts of civil or military authority, government regulations, embargoes,
epidemics, terrorist acts, war, riots, insurrections, fires, explosions, earthquakes, nuclear accidents, floods, work stoppages, cable cuts, power blackouts, volcanic action, other major environmental disturbances, or unusually severe weather
conditions. In such event, the Party whose performance fails or is delayed shall, upon giving prompt notice to the other Party, be excused from such performance on a day-to-day basis to the extent of such interference (and the other Party shall
likewise be excused from performance of its obligations on a day-to-day basis to the extent such Party’s obligations are related to the performance so interfered with). The Party whose performance fails or is delayed shall use its commercially
reasonable efforts to avoid or remove the cause of nonperformance and both Parties shall proceed to perform with dispatch once the causes of the failure or the delay are removed or cease. Notwithstanding the preceding paragraph, no delay or other
failure to perform shall be excused pursuant to this section by the acts or omissions of a Party’s subcontractors, materialmen, suppliers, or other third persons providing products or services to such Party, unless such acts or omissions are
themselves the product of a force majeure condition, and unless such delay or failure and the consequences thereof are beyond the reasonable control and without the fault or negligence of the Party claiming excusable delay or other failure to
perform. 
  
 (o) Relationship. Nothing in this Lease shall
be construed to render Licensee and Lessee partners or joint venturers or to impose upon any of them any liability as such. Additionally, nothing in this Lease shall be construed to render Lessee (including any of its employees or contractors) an
agent or employee of Licensee, or render Licensee (including any of its employees or contractors) an agent or employee of Lessee. 
  
 [Signature page follows] 
  

 15 

 IN WITNESS WHEREOF, each of the Parties hereto has duly executed this Spectrum Manager Lease as of
the date first written above. 
  

			
	AWS LICENSE NEWCO, LLC
		
	By:	 	New Cingular Wireless PCS, LLC, Its Member
		
	By	 	 /s/ Sean P. Foley

	Name:	 	Sean P. Foley
	Title:	 	Vice President, Treasurer and
	 	 	Corporate Development
	
	AWS NETWORK NEWCO, LLC
		
	By:	 	New Cingular Wireless PCS, LLC, Its Member
		
	By	 	 /s/ Sean P. Foley

	Name:	 	Sean P. Foley
	Title:	 	Vice President, Treasurer and
	 	 	Corporate Development

  

 16 

 SCHEDULE 1 
  

PCS Licenses 
  

															
	Call Sign

	 	License Areas (BTA)

	 	Block/
MHz

	 	 Frequencies
 (MHz)

	 	Grant Date

	 	Expiration
Date

	 	Licensee

	 	Lessee

	WPOJ825	 	San Juan, PR (488)	 	C/15	 	1895-1902.5/
1975-1982.5	 	06/30/1999	 	06/30/2009	 	AWS License
Newco, LLC	 	AWS Network
Newco, LLC
								
	WPOJ806	 	Mayaguez, PR (489)	 	C/15	 	1895-1902.5/
1975-1982.5	 	06/30/1999	 	06/30/2009	 	AWS License
Newco, LLC	 	AWS Network
Newco, LLC
								
	From
WPOK287	 	US Virgin Islands (491)	 	A/20	 	1850-1860/
1930-1940	 	04/07/1999	 	06/23/2005	 	AWS License
Newco, LLC	 	AWS Network
Newco, LLC
								
	From
KNLF212	 	Burlington, NC (062)
Charlotte, NC (074)
Greensboro, NC (174)
Raleigh, NC (368)	 	A/20	 	1850-1860/
1930-1940	 	06/23/1995	 	06/23/2005	 	AWS License
Newco, LLC	 	AWS Network
Newco, LLC
								
	KNLF986	 	San Juan, PR (488)	 	F/10	 	1890-1895/
1970-1975	 	04/28/1997	 	04/28/2007	 	AWS License
Newco, LLC	 	AWS Network
Newco, LLC
								
	KNLG202	 	Mayaguez, PR (489)	 	F/10	 	1890-1895/
1970-1975	 	04/28/1997	 	04/28/2007	 	AWS License
Newco, LLC	 	AWS Network
Newco, LLC
								
	KNLF249	 	US Virgin Islands (491)	 	A/7.5	 	1860-1863.75/
1940-1943.75	 	06/23/1995	 	06/23/2005	 	AWS License
Newco, LLC	 	AWS Network
Newco, LLC

  
 Microwave
Licenses 
  

									
	Call Sign

	 	Grant Date

	 	Expiration
Date

	 	Licensee

	 	Lessee

	WPOU284	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU285	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU287	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU288	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU291	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU292	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU293	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU294	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU296	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU297	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU300	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU301	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU302	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU303	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU304	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU305	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU306	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU307	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU311	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU312	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU313	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU314	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU315	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU316	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU317	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU318	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU320	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU321	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU323	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU325	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU326	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU327	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU328	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU331	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU332	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU333	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC

  

 17 

									
	Call Sign

	 	Grant Date

	 	Expiration
Date

	 	Licensee

	 	Lessee

	WPOU334	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU335	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU336	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU337	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU338	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU340	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU343	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU344	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU345	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU346	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU542	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPOU544	 	6/23/1999	 	6/23/2009	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQL826	 	5/30/2000	 	5/30/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQL827	 	5/30/2000	 	5/30/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQL828	 	5/30/2000	 	5/30/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQL829	 	5/14/2003	 	5/14/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQL830	 	5/30/2000	 	5/30/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQL831	 	5/30/2000	 	5/30/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQM208	 	5/30/2000	 	5/30/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQM893	 	5/30/2000	 	5/30/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQM902	 	5/30/2000	 	5/30/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQN959	 	5/30/2000	 	5/30/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQN960	 	7/10/2000	 	7/10/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQQ676	 	8/17/2000	 	8/17/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQQ695	 	8/18/2000	 	8/18/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQT345	 	10/3/2000	 	10/3/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQT346	 	10/3/2000	 	10/3/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPQT352	 	10/3/2000	 	10/3/2010	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPUU753	 	5/7/2002	 	5/7/2012	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPUU754	 	5/7/2002	 	5/7/2012	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPUU757	 	5/7/2002	 	5/7/2012	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPUU758	 	5/7/2002	 	5/7/2012	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPUU759	 	5/7/2002	 	5/7/2012	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPUU760	 	5/7/2002	 	5/7/2012	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPUU761	 	5/7/2002	 	5/7/2012	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPUV592	 	5/10/2002	 	5/10/2012	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPUV834	 	5/13/2002	 	5/13/2012	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPVB543	 	6/12/2002	 	6/12/2012	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPVS235	 	8/8/2002	 	8/8/2012	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPWU630	 	1/23/2003	 	1/23/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPWU633	 	1/23/2003	 	1/23/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPWU636	 	1/23/2003	 	1/23/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPWU637	 	7/15/2003	 	1/23/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPWU658	 	1/23/2003	 	1/23/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD345	 	3/10/2003	 	3/10/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD372	 	3/10/2003	 	3/10/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD373	 	3/10/2003	 	3/10/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD377	 	3/10/2003	 	3/10/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD397	 	3/10/2003	 	3/10/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD398	 	3/10/2003	 	3/10/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD401	 	3/10/2003	 	3/10/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD405	 	3/10/2003	 	3/10/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD406	 	3/10/2003	 	3/10/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD980	 	3/14/2003	 	3/14/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD981	 	3/14/2003	 	3/14/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXD982	 	3/14/2003	 	3/14/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXE208	 	3/14/2003	 	3/14/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXG668	 	4/1/2003	 	4/1/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXH551	 	4/7/2003	 	4/7/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXP344	 	5/14/2003	 	5/14/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXP589	 	5/15/2003	 	5/15/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPXP590	 	5/15/2003	 	5/15/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WPYT752	 	10/24/2003	 	10/24/2013	 	AWS License Newco, LLC	 	AWS Network Newco, LLC
	WQAG775	 	5/27/2004	 	5/27/2014	 	AWS License Newco, LLC	 	AWS Network Newco, LLC

  

 18 

 EXHIBIT 1 
  

FORM OF AMENDMENT #     TO 
 SPECTRUM MANAGER LEASE 
  
 THIS AMENDMENT #     TO SPECTRUM MANAGER LEASE (“Amendment”), is executed as of              (the “Execution
Date”), by and between                      (“Licensee”) and
                     (“Lessee”) (collectively the “Parties”, or each, individually, a
“Party”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Lease (as defined below). 
  
 WHEREAS, on     , the Parties entered into that certain Spectrum Manager Lease (the “Lease”) pursuant to which
Licensee agreed to lease Lessee rights to use the Leased Spectrum under a spectrum manager leasing arrangement within the meaning of 47 C.F.R. § 1.9020; 
  
 WHEREAS, pursuant to Section 5(c) of the Lease, the Parties agreed to extend the Lease within the meaning of 47 C.F.R. § 1.9020; 
  
 WHEREAS, the Parties desire to execute this Amendment to (i) establish the
terms under which the Parties will continue to lease the Leased Spectrum on a long-term basis and (ii) to modify any terms of the Lease which must be amended to extend the Lease in compliance with Communications Laws. 
  
 NOW, THEREFORE, in consideration of ten (10) dollars, the foregoing and of
the mutual covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be bound legally, agree as follows: 
  
 1. The Parties hereby modify the terms of the Lease to reflect the following terms. Any
provision not addressed herein shall remain unchanged in the Lease and such terms (including governing law, jurisdiction, document inspection, etc.) are incorporated by reference herein. 
  
 2. For purposes of this Amendment, the Lease as amended to reflect the changes incorporated by this Amendment shall be referred to as the
“Revised Lease.” As to the Lease, the term “Revised Lease” used herein shall be synonymous with the term “Lease” as defined therein. 
  
 3. Section 5(c) of the Lease is hereby deleted in its entirety. 
  
 4. Section 6(a) of the Lease is deleted in its entirety and the following text is added in its place: 
  
 Lease Arrangement Extension Notification. Within fourteen (14) days
of execution of this Amendment and at least at least twenty-one (21) days prior to the expiration of the Renewal Term of the Lease, Licensee shall prepare and file with the FCC all forms and related exhibits, certifications and other documents
necessary to satisfy the FCC’s requirements for “spectrum manager” lease notifications, as set forth in 47 C.F.R. § 1.9020(g)(2) (“FCC Lease Arrangement Extension Notification”). Each Party covenants and agrees
that it shall fully cooperate with the other, and do all things reasonably necessary to timely submit the FCC Lease Arrangement Extension Notification to the FCC 
  

 19 

 and shall promptly file or provide the other Party with all other information which is required to be
provided to the FCC in furtherance of the transactions contemplated hereby. 
  
 5.
Section 7(a) of the Lease is deleted in its entirety and the following text is added in its place: 
  
 The rights and obligations created under the Revised Lease shall become effective on the date which is twenty-one (21) days following the filing of the
FCC Lease Arrangement Extension Notification. Unless otherwise earlier terminated in accordance with the terms of the Revised Lease, the term of the Revised Lease shall (as to the Leased Spectrum associated with any License) continue in effect until
the expiration date for such License; provided, however, if the License is timely renewed in accordance with applicable FCC requirements and Sections 7(e)-(f) of the Revised Lease, the Revised Lease shall automatically renew with respect to such
License for successive lease terms until the ninety-ninth (99) anniversary of the Effective Lease Date (the “Term”). 
  
 6. Counterparts. This Amendment may be executed and delivered (including by facsimile transmission) 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. 
  
 [Signature page follows] 
  

 20 

 IN WITNESS WHEREOF, each of the Parties hereto has duly executed this Amendment as of the date
first written above. 
  

			
	[Lessor]
		
	 By
  
	 	

	Name:	 	 
	Title:	 	 
	
	[Lessee]
		
	 By
  
	 	

	Name:	 	 

  

 21

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