Document:

Amendment No. 3 to Contract

 Exhibit 10.5 
  

	

				
	AMENDMENT OF SOLICITATION/MODIFICATION OF CONTRACT	 	1.   CONTRACT ID CODE	 	 PAGE
 1
	 	 OF PAGES
 3

	

				
	 2. AMENDMENT/MODIFICATION NO.
 03
	 	 3. EFFECTIVE DATE
 See Bock
16
	 	 4. REQUISITION/PURCHASE REQ. NO.
 04352
	 	5. PROJECT NO. (if applicable)
	

						
	6. ISSUED BY	 	 	 	CODE	 	 	 	 7. ADMINISTERED BY (if other than item 5)
 CODE OMB No. 0990-0115
	 	 
	 	 	 	 	 	
	 	 	

		
	 National Institute of Environmental Health Sciences
 RCB, DERT, NIEHS, NIH, DHHS
 P.O. Box 12874
 Research Triangle Park, NC 27709
	 	 Attn: Jo Ann Lewis

	

			
	8. NAME AND ADDRESS OF CONTRACTOR (No., street, city, county, State and ZIP Code)	 	(ü)	 	9A. AMENDMENT OF SOLICITATION NO.
	 	

			
	 Paradigm Genetics, Inc.
 108
Alexander Drive, Bldg 1A
 Research Triangle Park, NC 27709
	 	 	 	9B. DATED (SEE ITEM 11)
	 	

			
	 	 	  
 X
	 	 10A. MODIFICATION OF CONTRACT/ORDER NO.
 NO1-ES-25497

	
	 	 	

						
	CODE	 	 	 	 	 	FACILITY CODE	 	 	 	 10B. DATED (SEE ITEM 13)
 09/30/02

	

	
	11. THIS ITEM ONLY APPLIES TO AMENDMENTS OF SOLICITATIONS
	

	
	  ̈  The
above numbered solicitation is amended as set forth in item 14. The hour and date specified for receipt of Offers   ̈ is
extended,   ̈ is not extended.
 Offers
must acknowledge receipt of this amendment prior to the hour and date specified in the solicitation or as amended, by one of the following methods:
 (a) By
completing Items 8 and 15, and returning ____ copies of the amendment; (b) By acknowledging receipt of this amendment on each copy of the offer submitted; or (c) By separate letter or telegram which includes a reference to the solicitation and
amendment numbers. FAILURE OF YOUR ACKNOWLEDGMENT TO BE RECEIVED AT THE PLACE DESIGNATED FOR THE RECEIPT OF OFFERS PRIOR TO THE HOURS AND DATE SPECIFIED MAY RESULT IN REJECTION OF YOUR OFFER. If by virtue of this amendment you desire to change an
offer already submitted, such change may be made by telegram or letter, provided each telegram or letter makes reference to the solicitation and this amendment, and is received prior to the opening hour and date specified.

	

	
	 12. ACCOUNTING AND APPROPRIATION DATA (if required)
 EIN:
1562047837A1                DOC:  N1ES25497A                OC: 
 25.55                CAN:  3-8423871                CURR.
OBLIG:  $[*****]

	

	
	 13. THIS ITEM APPLIES ONLY TO MODIFICATIONS OF CONTRACTS/ORDERS,
 IT MODIFIES THE CONTRACT/ORDER NO. AS DESCRIBED IN ITEM 14.

	

		
	            (ü)            	 	A. THIS CHANGE ORDER IS ISSUED PURSUANT TO: (Specify authority) THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN THE CONTRACT ORDER NO. IN ITEM 10A
	

		
	 	 	B. THE ABOVE NUMBERED CONTRACT/ORDER IS MODIFIED TO REFLECT THE ADMINISTRATIVE CHANGES (such as changes in paying officer, appropriate date, etc.) SET FORTH IN ITEM 14,
PURSUANT TO THE AUTHORITY OF FAR 43.103(b).
	

		
	 	 	 C. THIS SUPPLEMENTAL AGREEMENT IS ENTERED INTO PURSUANT TO AUTHORITY OF:
  

	

		
	            X	 	 D. OTHER (Specify type of modification and authority)
 FAR 1.602-1, ARTICLE H.5.

	

	
	E. IMPORTANT: Contractor [  ] is not, [ X ] is required to sign this document and return 2 copies to the issuing office.
	

	
	 14. DESCRIPTION OF AMENDMENT/MODIFICATION (Organized by UCF section headings, including solicitation/contract subject matter
where feasible.)
  
 The purpose of this modification is to exercise an option in
accordance with ARTICLE H.5, to allot additional funds, revise ARTICLES B. and F. and to correct Modifications 1 and 2.
  
 The contract is hereby changed as reflected in the attached pages 2-3.
 The
contract amount is hereby increased by $8,402,346 from $23,875,065 to $32,277,411.
 The expiration date remains unchanged at September 29, 2007.

 
 Except as provided herein, all terms and conditions of the document referenced in item 9A
or 10A, as heretofore changed, remains unchanged and in full force and effect.

	

		
	 15A. NAME AND TITLE OF SIGNER (Type or print)
 Heinrich Gugger
	 	 16A. NAME AND TITLE OF CONTRACTING OFFICER
 Jo Ann Lewis, Contracting Officer

	

				
	 15B. CONTRACTOR/OFFEROR
  
 By  /s/ Heinrich
Gugger                                
       (Signature of person authorized to sign)
	 	 15C. DATE SIGNED
  
 4/23/2003
	 	 16B. UNITED STATES OF AMERICA
  
 By  /s/ Jo Ann
Lewis                                
       (Signature of Contracting Officer)
	 	 16C. DATE SIGNED
  
 4/23/2003

	

  

	 NSN 7540-01-152-8070
 PREVIOUS EDITION NOT USABLE
	 	30-105	 	 STANDARD Form 30
 (REV 10-83)
 Prescribed by GSA
 FAR (48 CFR) 53.214(a)

	 CONTINUATION SHEET 
	 PAGE 2 OF 3 

  

CONTRACT NO.:  N01-ES-25497, Modification No. 02 
  
 CONTRACTOR:  Paradigm Genetics, Inc. 
  

  
 From the effective date of this modification, the Government
and the Contractor mutually agree as follows: 
  

	A.	 	PART I, SECTION B, ARTICLE B.2. ESTIMATED COST AND FIXED FEE, subparagraphs d. and e. in Modifications 1 and 2 are hereby changed to subparagraph (4) and (5), respectively.

  

	B.	 	PART I, SECTION B, ARTICLE B.2 ESTIMATED COST AND FIXED FEE, subparagraphs (1) through (5) are hereby revised as follows: 

  

	 	(1)	 	The estimated cost of the contract is increased by $[*****] from $[*****] to $[*****]. 

  

	 	(2)	 	The fixed fee for this contract is increased by $[*****] from $[*****] to $[*****]. The fee shall be paid in direct ratio to the level of effort expended; that is, the percent of
fee paid shall be equal to the percent of total effort expended. Payment shall be subject to the withholding provisions of the clauses ALLOWABLE COST AND PAYMENT and FIXED FEE referenced in the General Clause Listing in Part II, ARTICLE I.1. of this
contract. Payment of fixed fee shall not be made in less than monthly increments. 

  

	 	(3)	 	The Government’s obligation, represented by the sum of the estimated costs plus the fixed fee, is $32,277.411. 

  

	 	(4)	 	The total funds currently available for payment and allotted to this contract are increased by $[*****] from $[*****] to $[*****] which $[*****] represents an increase in the
estimated costs from $[*****] to $[*****] and of which $[*****] represents an increase in the fixed fee from $[*****] to $[*****]. For further provisions on funding, see the LIMITATIONS OF FUNDS clause incorporated herein. 

 

	 	(5)	 	It is estimated that the amount currently allotted will cover performance of the contract through February 28, 2004. 

  
 For clarification purposes, the following schedule is provided: 
  

	Base	 	Contract: 

  

				
	 	  	Estimated Cost

	  	 

	Fixed Fee

	  	 

	Total

				
	 Previous to this modification
	  	$[*****]	  	$	[*****]	  	$	 [*****]
				
	 Funds allotted this modification
	  	$[*****]	  	$	[*****]	  	$	 [*****]
	 	  	
	  	
	
	  	
	

				
	 Total funds allotted
	  	$[*****]	  	$	[*****]	  	$	 [*****]
				
	 Funds to be allotted
	  	$[*****]	  	$	[*****]	  	$	 [*****]
	 	  	
	  	
	
	  	
	

				
	 Total contract amount
	  	$[*****]	  	$	[*****]	  	$	23,875,065

  

	 CONTINUATION SHEET 
	 PAGE 3 OF 3 

  

CONTRACT NO.:  N01-ES-25497, Modification No. 02 
  
 CONTRACTOR:  Paradigm Genetics, Inc. 
  

  
 Option 1: 
  

	 	  	Estimated Cost

	  	Fixed Fee

	  	Total

				
	 Previous to this modification
	  	$	[*****]	  	$	[*****]	  	$	 [*****]
				
	 Funds allotted this modification
	  	$	[*****]	  	$	[*****]	  	$	 [*****]
	 	  	
	
	  	
	
	  	
	

				
	 Total funds allotted
	  	$	[*****]	  	$	[*****]	  	$	 [*****]
				
	 Funds to be allotted
	  	$	[*****]	  	$	[*****]	  	$	 [*****]
	 	  	
	
	  	
	
	  	
	

				
	 Total Option 1 amount
	  	$	[*****]	  	$	[*****]	  	$	8,402,346

  
 Summary – Base + Option:

  

	 	  	Estimated Cost

	  	Fixed Fee

	  	Total

				
	 Previous to this modification
	  	$	[*****]	  	$	[*****]	  	$	 [*****]
				
	 Funds allotted this modification
	  	$	[*****]	  	$	[*****]	  	$	 [*****]
	 	  	
	
	  	
	
	  	
	

				
	 Total funds allotted
	  	$	[*****]	  	$	[*****]	  	$	 [*****]
				
	 Funds to be allotted
	  	$	[*****]	  	$	[*****]	  	$	 [*****]
	 	  	
	
	  	
	
	  	
	

				
	 Total contract amount
	  	$	[*****]	  	$	[*****]	  	$	32,277,411

  

	C.	 	In accordance with ARTICLE H.5, OPTION PROVISION and ARTICLE B.2.b. Options, Optional Studies – Year 1 is hereby exercised. The number of studies may be higher than the maximum
number cited in ARTICLE B.2.b.; however, the total estimated cost plus fee for these optional studies shall not exceed $8,402,346. 

  

	D.	 	ARTICLE F.2. LEVEL OF EFFORT F.2., subparagraph b. is hereby corrected for the maximum of studies as follows. If an option is exercised, the Level of Effort will be increased by the
following amounts: 

  

	 Labor Category

	  	Labor Hours

	 Professional
	  	[*****]
	 Other Professional
	  	[*****]
	 Totals
	  	[*****]

  

	E.	 	ARTICLE F.2. LEVEL OF EFFORT, paragraph a., is hereby revised to increase the level of effort as indicated in ARTICLE F.2.b. as follows: 

  

	 	A.	 	During the period of performance of this contract, the contractor shall provide [*****] ([*****] for the base plus [*****] for Optional Studies—Year 1). The labor hours exclude
vacation, sick leave, and holiday. These labor hours exclude subcontractor labor hours. It is estimated that the labor hours are constituted as specified below and will be expended approximately as follows: 

  

	 	  	Labor Hours

	 Labor Category

	  	Year 1

	  	Year 2

	  	Year 3

	  	Year 4

	  	Year 5

						
	 Professional
	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]
	 Other Professional
	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]
	 Totals
	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]

  
 \\\END OF
MODIFICATION///Senior Management Agreement, dated May 14, 2003

 Exhibit 10.39 
  
 Execution Copy 
  
 SENIOR MANAGEMENT AGREEMENT 
  
 THIS SENIOR MANAGEMENT AGREEMENT (this “Agreement”) is made as of May 14, 2003, by and among TSI Telecommunication Holdings, LLC, a
Delaware limited liability company (the “Company”), TSI Telecommunication Services, BV., a Netherlands Limited Liability Company (“Employer”), and Eugene Bergen Henegouwen (“Executive”). 

 
 The Company and Executive desire to enter into an agreement pursuant to
which Executive will purchase from the Company, and the Company will sell 270,270.27 of the Company’s Common Units (the “Common Units”). The Common Units acquired by Executive pursuant to Section 1(a) of this Agreement
are referred to herein as “Carried Units”. Certain definitions are set forth in Section 9 of this Agreement. 
  
 Certain provisions of this Agreement are intended for the benefit of, and will be enforceable by GTCR Fund VII, L.P., a Delaware limited partnership
(“GTCR Fund VII”), GTCR Fund VII/A, L.P., a Delaware limited partnership (“GTCR Fund VII/A”), GTCR Co-Invest, L.P., a Delaware limited partnership (“GTCR Co-Invest”, together with GTCR Fund VII,
GTCR Fund VII/A and any other investment fund managed by GTCR Golder Rauner, L.L.C., each an “Investor” and collectively, the “Investors”). 
  
 Employer desires to employ Executive on the terms and conditions set forth herein, and Executive is willing to accept such
employment on such terms and conditions. 
  
 NOW, THEREFORE, in
consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 
  
 PROVISIONS RELATING TO CARRIED UNITS 
  
 1. Purchase and Sale of Carried Units. 
  
 (a) Upon execution of this Agreement, Executive will purchase, and the
Company will sell, 270,270.27 Common Units at a price of $0.0333 per unit. The Company will deliver to Executive copies of the certificates representing such Common Units, and Executive will deliver to the Company a cashier’s or certified check
or wire transfer of immediately available funds in an aggregate amount of $9,000.00 as payment for such Common Units. Executive shall also execute and deliver to the Company the Joinder Agreements (attached hereto as Exhibit C) with respect
to each of the LLC Agreement, the Securityholders Agreement, and the Registration Agreement dated February 14, 2002, by and among the Company and the other parties thereto. 
  
 (b) Until the occurrence of a Sale of the Company, any certificates evidencing Carried Units shall be held by the Company
for the benefit of Executive and the other holder(s) of Carried Units. Upon the occurrence of a Sale of the Company, the Company will return any 

 such certificates for the Carried Units to the record holders thereof. Upon the occurrence of a Public Offering, the
Company will return to the record holders thereof any certificates representing Vested Units. 
  
 (c) In connection with the purchase and sale of the Carried Units, Executive represents and warrants to the Company that: 
  
 (i) The Carried Units to be acquired by Executive pursuant to this Agreement will be acquired for Executive’s own account and not
with a view to, or intention of, distribution thereof in violation of the Securities Act, or any applicable state securities laws, and the Carried Units will not be disposed of in contravention of the Securities Act or any applicable state
securities laws. 
  
 (ii) Executive is an
executive officer of the Employer or a Subsidiary, is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Carried Units. 
  
 (iii) Executive is able to bear the economic risk of her investment in the Carried Units for an indefinite
period of time because the Carried Units have not been registered under the Securities Act and, therefore, cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. 
  
 (iv) Executive has had an opportunity to ask questions and
receive answers concerning the terms and conditions of the offering of Carried Units and has had full access to such other information concerning the Company as she has requested. 
  
 (v) This Agreement constitutes the legal, valid and binding obligation of Executive, enforceable in
accordance with its terms, and the execution, delivery and performance of this Agreement by Executive does not and will not conflict with, violate or cause a breach of any agreement, contract or instrument to which Executive is a party or any
judgment, order or decree to which Executive is subject. 
  
 (vi) Executive is a resident of the Netherlands. 
  
 (d) As an inducement to the Company to issue the Carried Units to Executive, and as a condition thereto, Executive acknowledges and agrees that neither the issuance of the Carried Units to Executive nor any provision
contained herein shall entitle Executive to remain in the employment of the Company, Employer or their respective Subsidiaries or affect the right of the Company, Employer or their respective Subsidiaries to terminate Executive’s employment at
any time for any reason. 
  
 (e) Concurrently with the execution
of this Agreement, Executive shall execute in blank ten security transfer powers in the form of Exhibit B attached hereto (the “Security Powers”) with respect to the Carried Units and shall deliver such Security Powers to the
Company. The Security Powers shall authorize the Company to assign, transfer and deliver the Carried Units to the appropriate acquiror thereof pursuant to Section 3 below and Section 6 of the Securityholders Agreement and under no
other circumstances. 
  

 2 

 (f) Executive is neither a party to, nor bound by, any other employment agreement, consulting agreement,
noncompete agreement, nonsolicitation agreement or confidentiality agreement. 
  
 2. Vesting of Carried Units. 
  
 (a) The Carried Units shall be subject to vesting in the manner specified in this Section 2. Except as otherwise provided in Section 2(b) below, 5% of the Carried Units will become vested on each Quarter Date such that on May
14, 2008 the Carried Units will be 100% vested, in each case, however, if and only if as of each such Quarter Date Executive has been continuously employed by the Company, Employer or any of their respective Subsidiaries from the date of this
Agreement through and including such Quarter Date. 
  
 (b) Upon
the occurrence of a Sale of the Company, all Carried Units that have not yet become vested shall become vested at the time of such event, if as of the date of such event Executive is still employed by the Company, Employer or any of their respective
Subsidiaries. Carried Units that have become vested are referred to herein as “Vested Units.” All Carried Units that have not vested are referred to herein as “Unvested Units.” 
  
 3. Repurchase Option. 
  
 (a) In the event Executive ceases to be employed by the Company, Employer or
their respective Subsidiaries for any reason (the “Separation”), the Carried Units (whether held by Executive or one or more of Executive’s transferees, other than the Company and the Investors) will be subject to repurchase,
in each case by the Company and the Investors pursuant to the terms and conditions set forth in this Section 3 (the “Repurchase Option”). The Company may assign its repurchase rights set forth in this Section 3 to any
Person; provided that the Company may not assign to any Person its right to pay any portion of the Repurchase Price for Carried Units repurchased hereunder in the form of Class A Preferred, as set forth in Section 3(e). 
  
 (b) In the event of a Separation: (i) the purchase price for each Unvested
Unit will be the lesser of (A) Executive’s Original Cost for such Unit and (B) the Fair Market Value of such Unit as of the date of Separation; and (ii) the purchase price for each Vested Unit will be the Fair Market Value of such unit as of
the date of the Separation. 
  
 (c) The Board may elect to
purchase all or any portion of the Unvested Units or the Vested Units by delivering written notice (the “Repurchase Notice”) to the holder or holders of the Carried Units within one year after the Separation. The Repurchase Notice
will set forth the number of Unvested Units and Vested Units to be acquired from each holder, the aggregate consideration to be paid for such units and the time and place for the closing of the transaction. The number of Carried Units to be
repurchased by the Company shall first be satisfied to the extent possible from the Carried Units held by Executive at the time of delivery of the Repurchase Notice. If the number of Carried Units then held by Executive is less than the total number
of Carried Units which the Company has elected to purchase, the Company shall purchase the remaining Carried Units elected to be purchased from the other holder(s) of Carried Units under this Agreement, pro rata according to the number of Carried
Units held by such 
  

 3 

 other holder(s) at the time of delivery of such Repurchase Notice (determined as nearly as practicable to the nearest
unit). The number of Unvested Units and Vested Units to be repurchased hereunder will be allocated among Executive and the other holders of Carried Units (if any) pro rata according to the number of Carried Units to be purchased from such Person.

  
 (d) If for any reason the Company does not elect to purchase
all of the Carried Units pursuant to the Repurchase Option, the Investors shall be entitled to exercise the Repurchase Option for all or any portion of the Carried Units the Company has not elected to purchase (the “Available
Units”). As soon as practicable after the Company has determined that there will be Available Units, but in any event within ten months after the Separation, the Company shall give written notice (the “Option Notice”) to
the Investors setting forth the number of Available Units and the purchase price for the Available Units. The Investors may elect to purchase any or all of the Available Units by giving written notice to the Company within one month after the Option
Notice has been given by the Company. If the Investors elect to purchase an aggregate number greater than the number of Available Units, the Available Units shall be allocated among the Investors based upon the number of Common Units owned by each
Investor. As soon as practicable, and in any event within ten days after the expiration of the one-month period set forth above, the Company shall notify each holder of Carried Units as to the number of units being purchased from such holder by the
Investors (the “Supplemental Repurchase Notice”). At the time the Company delivers the Supplemental Repurchase Notice to the holder(s) of Carried Units, the Company shall also deliver written notice to each Investor setting forth
the number of units such Investor is entitled to purchase, the aggregate purchase price and the time and place of the closing of the transaction. The number of Unvested Units and Vested Units to be repurchased hereunder shall be allocated among the
Company and the Investors pro rata according to the number of Carried Units to be purchased by each of them. 
  
 (e) The closing of the purchase of the Carried Units pursuant to the Repurchase Option shall take place on the date designated by the Company in the
Repurchase Notice or Supplemental Repurchase Notice, which date shall not be more than one month nor less than five days after the delivery of the later of either such notice to be delivered. The Company will pay for the Carried Units to be
purchased by it pursuant to the Repurchase Option by first offsetting amounts outstanding under any bona fide debts owed by Executive to the Company and will pay the remainder of the purchase price by, at its option, (A) a check or wire transfer of
funds, (B) issuing in exchange for such securities a number of the Company’s Class A Preferred (having the rights and preferences set forth in the LLC Agreement) equal to (x) the aggregate portion of the repurchase price for such Carried Units
to be paid by the issuance of Class A Preferred divided by (y) 1,000, and for purposes of the LLC Agreement each such Class A Preferred unit shall as of its issuance be deemed to have Capital Contributions (as defined in the LLC Agreement) made with
respect to such Class A Preferred unit equal to $1,000, or (C) any combination of (A) and (B) as the Board may elect in its discretion. Each Investor will pay for the Carried Units purchased by it by a check or wire transfer of funds. The Company
and the Investors will be entitled to receive customary representations and warranties from the sellers regarding such sale and to require that all sellers’ signatures be guaranteed. 
  
 By way of example only for the purpose of clarifying the mechanics of Section 3(e)(B), if the Company intends to
repurchase 45,045 Carried Units by issuance of Class A Preferred and the aggregate repurchase price determined in accordance with this Section 3 is 
  

 4 

 $1,500, then the Company would issue to Executive 1.5 units of Class A Preferred and for purposes of the LLC Agreement
the whole unit of Class A Preferred issued to Executive would as of its issuance be deemed to have Capital Contributions made for such Class A Preferred of $1,000 and the Capital Contributions made for the one-half unit of Class A Preferred would be
$500. 
  
 (f) Notwithstanding anything to the contrary contained
in this Agreement, all repurchases of Carried Units by the Company pursuant to the Repurchase Option shall be subject to applicable restrictions contained in the Delaware Limited Liability Company Act, the Delaware General Corporation Law or such
other governing corporate law, and in the Company’s and its Subsidiaries’ debt and equity financing agreements. If any such restrictions prohibit (i) the repurchase of Carried Units hereunder which the Company is otherwise entitled to make
or (ii) dividends or other transfers of funds from one or more Subsidiaries to the Company to enable such repurchases, then the Company may make such repurchases as soon as it is permitted to make repurchases or receive funds from Subsidiaries under
such restrictions. 
  
 (g) Notwithstanding anything to the
contrary contained in this Agreement, if the Fair Market Value of the Carried Units is finally determined to be an amount at least 10% greater than the per unit repurchase price for such Carried Units in the Repurchase Notice or in the Supplemental
Repurchase Notice, each of the Company and the Investors shall have the right to revoke its exercise of the Repurchase Option for all or any portion of the Carried Units elected to be repurchased by it by delivering notice of such revocation in
writing to the holders of Carried Units during the thirty-day period beginning on the date that the Company and/or the Investors are given written notice that the Fair Market Value of Carried Units was finally determined to be an amount at least 10%
greater than the per unit repurchase price for Carried Units set forth in the Repurchase Notice or in the Supplemental Repurchase Notice. 
  
 (h) The provisions of this Section 3 shall terminate with respect to Vested Units upon the first to occur of the consummation of a Public Offering
and the consummation of a Sale of the Company. 
  
 4.
Restrictions on Transfer of Carried Units. 
  
 (a)
Transfer of Carried Units. The holders of Carried Units shall not Transfer any interest in any Carried Units, except pursuant to (i) the provisions of Section 3 hereof, (ii) the provisions of Section 3 of the Securityholders
Agreement (a “Participating Sale”), (iii) an “Approved Sale” (as defined in Section 6 of the Securityholders Agreement), or (iv) the provisions of Section 4(b) below. 
  
 (b) Certain Permitted Transfers. The restrictions in this Section
4 will not apply with respect to any Transfer of Carried Units made (i) pursuant to applicable laws of descent and distribution or to such Person’s legal guardian in the case of any mental incapacity or among such Person’s Family
Group, or (ii) at such time as the Investors sell Common Units in a Public Sale, but in the case of this clause (ii) only an amount of units (the “Transfer Amount”) equal to the lesser of (A) the number of Vested Units owned
by Executive and (B) the number of Common Units owned by Executive multiplied by a fraction (the “Transfer Fraction”), the numerator of which is the number of Common Units sold by the Investors in such Public Sale 
  

 5 

 and the denominator of which is the total number of Common Units held by the Investors prior to the Public Sale;
provided that, if at the time of a Public Sale of units by the Investors, Executive chooses not to Transfer the Transfer Amount, Executive shall retain the right to Transfer an amount of Common Units at a future date equal to the lesser of
(x) the number of Vested Units owned by Executive at such future date and (y) the number of Common Units owned by Executive at such future date multiplied by the Transfer Fraction; provided further that the restrictions contained in this
Section 4 will continue to be applicable to the Carried Units after any Transfer of the type referred to in clause (i) above and the transferees of such Carried Units must agree in writing to be bound by the provisions of this Agreement. Any
transferee of Carried Units pursuant to a Transfer in accordance with the provisions of this Section 4(b)(i) is herein referred to as a “Permitted Transferee.” Upon the Transfer of Carried Units pursuant to this Section
4(b), the transferring holder of Carried Units will deliver a written notice (a “Transfer Notice”) to the Company. In the case of a Transfer pursuant to clause (i) hereof, the Transfer Notice will disclose in reasonable detail
the identity of the Permitted Transferee(s). 
  
 (c)
Termination of Restrictions. The restrictions set forth in this Section 4 will continue with respect to each unit of Carried Units until the earlier of (i) the date on which such Carried Units have been transferred in a Public Sale
permitted by this Section 4, or (ii) the consummation of an Approved Sale. 
  
 5. Additional Restrictions on Transfer of Carried Units. 
  
 (a) Legend. The certificates representing the Carried Units will bear a legend in substantially the following form: 
  
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY ISSUED
AS OF MAY 14, 2003, HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN EXEMPTION FROM
REGISTRATION THEREUNDER. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER, CERTAIN REPURCHASE OPTIONS AND CERTAIN OTHER AGREEMENTS SET FORTH IN A SENIOR MANAGEMENT AGREEMENT BETWEEN THE COMPANY
AND AN EXECUTIVE OF THE COMPANY DATED AS OF MAY 14, 2003. A COPY OF SUCH AGREEMENT MAY BE OBTAINED BY THE HOLDER HEREOF AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE.” 
  
 (b) Opinion of Counsel. No holder of Carried Units may Transfer any
Carried Units (except pursuant to an effective registration statement under the Securities Act) without first delivering to the Company a written notice describing in reasonable detail the proposed Transfer, together with an opinion of counsel
(reasonably acceptable in form and substance to the Company) that neither registration nor qualification under the Securities Act and applicable state securities laws is required in connection with such transfer. In addition, if the holder of the
Carried Units delivers to the Company an opinion of counsel that no subsequent Transfer of such 
  

 6 

 Carried Units shall require registration under the Securities Act, the Company shall promptly upon such contemplated
Transfer deliver new certificates for such Carried Units which do not bear the Securities Act portion of the legend set forth in Section 5(a). If the Company is not required to deliver new certificates for such Carried Units not bearing such
legend, the holder thereof shall not Transfer the same until the prospective transferee has confirmed to the Company in writing its agreement to be bound by the conditions contained in this Section 5. 
  
 PROVISIONS RELATING TO EMPLOYMENT 
  
 6. Employment. Employer agrees to employ Executive and Executive
accepts such employment for the period beginning as of the date hereof and ending upon her separation pursuant to Section 6(c) hereof (the “Employment Period”). 
  
 (a) Position and Duties. 
  
 (i) During the Employment Period, Executive shall serve as the Managing Director of Employer and its Subsidiaries and shall have the
normal duties, responsibilities and authority implied by such position, subject to the power of the Chief Executive Officer and the Board to expand or limit such duties, responsibilities and authority and to override actions of Executive.

  
 (ii) Executive shall report to the Chief
Executive Officer and/or the President of Employer and Executive shall devote her best efforts and her full business time and attention to the business and affairs of the Company, Employer and their Subsidiaries. 
  
 (b) Salary, Bonus and Benefits. During the Employment Period, Employer
will pay Executive a base salary (the “Annual Base Salary”) of Euro 225,000 per annum, subject to any increases as determined by the Board based upon the Company’s achievements of budgetary and other objectives set by the
Board. For any fiscal year, Executive shall be eligible for an annual bonus of up to 50% of the Executive’s then applicable Annual Base Salary based upon the achievement by the Company, Employer and their Subsidiaries of budgetary and other
objectives set by the Board; provided that with respect to the first year for which Executive is eligible for a bonus, such bonus shall be paid on a pro rata basis based upon that portion of the year that remained after the date of this
Agreement. In addition, during the Employment Period, Executive will be entitled to such other benefits approved by the Board and made available to the senior management of the Company, Employer and their Subsidiaries. 
  
 (c) Separation. The Employment Period will continue until
Executive’s resignation, disability (as determined by the Board in its good faith judgment) or death or until the Employer decides to terminate Executive’s employment with or without Cause. If Executive’s employment is terminated by
Employer without Cause, during the six-month period commencing on the date of termination (the “Initial Severance Period”), Employer shall pay to Executive each month during the Initial Severance Period an aggregate amount equal to
 1/12th of her Annual Base Salary in effect as of the end of the Employment Period, payable in equal installments on the Employer’s regular salary payment dates. Employer may (in its sole discretion)
elect to extend the Initial Severance Period for up to three additional six-month 
  

 7 

 periods (each an “Additional Severance Period”) by providing Executive written notice of such extension
no less than 60 days prior to the last day of the Initial Severance Period or the then effective Additional Severance Period and paying Executive during each month of any such Additional Severance Period an additional amount equal to  1/12th of her Annual Base Salary, payable in equal installments on the Employer’s regular salary payment dates. (The Initial Severance Period and all applicable Additional Severance Periods are collectively referred to herein
as the “Severance Period”). The amounts payable pursuant to this Section 6(c) shall be reduced by the amount of any compensation Executive earns or receives with respect to any other employment during the period in which she
is receiving severance. Upon request from time to time, Executive shall furnish Employer with a true and complete certificate specifying any such compensation earned or received by him while receiving any severance payments from Employer.

  
 7. Confidential Information. 
  
 (a) Obligation to Maintain Confidentiality. Executive acknowledges
that the information, observations and data obtained by him during the course of her performance under this Agreement concerning the business and affairs of the Company, Employer and their respective Subsidiaries and Affiliates are the property of
the Company, Employer or such Subsidiaries and Affiliates, including information concerning acquisition opportunities in or reasonably related to the Company’s and Employer’s and their respective Subsidiaries’ business or industry of
which Executive becomes aware during the Employment Period. Therefore, Executive agrees that she will not disclose to any unauthorized Person or use for her own account any of such information, observations or data without the Board’s prior
written consent, unless and to the extent that the aforementioned matters become generally known to and available for use by the public other than as a result of Executive’s acts or omissions to act. Executive agrees to deliver to the Company
at a Separation, or at any other time the Company may request in writing, all memoranda, notes, plans, records, reports and other documents (and copies thereof) relating to the business of the Company, Employer and their respective Subsidiaries and
Affiliates (including, without limitation, all acquisition prospects, lists and contact information) which she may then possess or have under her control. 
  
 (b) Ownership of Property. Executive acknowledges that all inventions, innovations, improvements, developments, methods, processes, programs,
designs, analyses, drawings, reports, and all similar or related information (whether or not patentable) that relate to the Company’s, Employer’s or any of their respective Subsidiaries’ or Affiliates’ actual or anticipated
business, research and development, or existing or future products or services and that are conceived, developed, contributed to, made, or reduced to practice by Executive (either solely or jointly with others) while employed by the Company,
Employer or any of their respective Subsidiaries or Affiliates (including any of the foregoing that constitutes any proprietary information or records) (“Work Product”) belong to the Company, Employer or such Subsidiary or Affiliate
and Executive hereby assigns, and agrees to assign, all of the above Work Product to the Company, Employer or to such Subsidiary or Affiliate. Any copyrightable work prepared in whole or in part by Executive in the course of her work for any of the
foregoing entities shall be deemed a “work made for hire” under the copyright laws, and the Company, Employer or such Subsidiary or Affiliate shall own all rights therein. To the extent that any such copyrightable work is not a “work
made for hire,” Executive hereby assigns and agrees to assign 
  

 8 

 to the Company, Employer or such Subsidiary or Affiliate all right, title, and interest, including without limitation,
copyright in and to such copyrightable work. Executive shall promptly disclose such Work Product and copyrightable work to the Board and perform all actions reasonably requested by the Board (whether during or after the Employment Period) to
establish and confirm the Company’s, Employer’s or such Subsidiary’s or Affiliate’s ownership (including, without limitation, assignments, consents, powers of attorney, and other instruments). 
  
 (c) Third Party Information. Executive understands that the Company,
Employer and their respective Subsidiaries and Affiliates will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s, Employer’s and their
respective Subsidiaries’ and Affiliates’ part to maintain the confidentiality of such information and to use it only for certain limited purposes. During the Employment Period and thereafter, and without in any way limiting the provisions
of Section 7(a) above, Executive will hold Third Party Information in the strictest confidence and will not disclose to anyone (other than personnel of the Company, Employer or their respective Subsidiaries or Affiliates who need to know such
information in connection with their work for the Company, Employer or their respective Subsidiaries or Affiliates) or use, except in connection with her work for the Company, Employer or their respective Subsidiaries or Affiliates, Third Party
Information unless expressly authorized by a member of the Board in writing. 
  
 (d) Use of Information of Prior Employers. During the Employment Period, Executive will not improperly use or disclose any confidential information or trade secrets, if any, of any former employers or any other
Person to whom Executive has an obligation of confidentiality, and will not bring onto the premises of the Company, Employer or any of their respective Subsidiaries or Affiliates any unpublished documents or any property belonging to any former
employer or any other Person to whom Executive has an obligation of confidentiality unless consented to in writing by the former employer or Person. Executive will use in the performance of her duties only information which is (i) generally known
and used by Persons with training and experience comparable to Executive’s and that is (x) common knowledge in the industry or (y) is otherwise legally in the public domain, (ii) is otherwise provided or developed by the Company, Employer or
any of their respective Subsidiaries or Affiliates or (iii) in the case of materials, property or information belonging to any former employer or other Person to whom Executive has an obligation of confidentiality, approved for such use in writing
by such former employer or Person. 
  
 8. Noncompetition and
Nonsolicitation. Executive acknowledges that in the course of her employment with Employer she will become familiar with the Company’s, Employer’s and their respective Subsidiaries’ trade secrets and with other confidential
information concerning the Company, Employer and such Subsidiaries and that her services will be of special, unique and extraordinary value to the Company and Employer and such Subsidiaries. Therefore, Executive agrees that: 
  
 (a) Noncompetition. During the Employment Period and (i) in the event
of a termination of Executive’s employment by Employer without Cause, the Severance Period or (ii) in the event of a termination of Executive’s employment for any other reason, for a period of two years thereafter (collectively, the
“Noncompete Period”), she shall not, anywhere in the world, 
  

 9 

 directly or indirectly own, manage, control, participate in, consult with, render services for, or in any manner engage
in any business relating to the provision of interoperability solutions, clearing and settlement services, software and network services and related services to telecommunications companies and other third parties that compete with the businesses of
the Company, Employer or their respective Subsidiaries or any business in which the Company, Employer or any of their respective Subsidiaries has entertained discussions or has requested and received information relating to the acquisition of such
business by the Company, Employer or their respective Subsidiaries prior to the Separation; provided, however, that the Executive may own up to 1% of any class of an issuer’s publicly traded securities. 
  
 (b) Nonsolicitation. During the Noncompete Period, Executive shall not
directly or indirectly through another entity (i) induce or attempt to induce any employee of the Company, Employer or their respective Subsidiaries to leave the employ of the Company, Employer or such Subsidiary, or in any way interfere with the
relationship between the Company, Employer and any of their respective Subsidiaries and any employee thereof, (ii) hire any person who was an employee of the Company, Employer or any of their respective Subsidiaries within one year prior to the time
such employee was hired by Executive, (iii) induce or attempt to induce any customer, supplier, licensee or other business relation of the Company, Employer or any of their respective Subsidiaries to cease doing business with the Company, Employer
or such Subsidiary or in any way interfere with the relationship between any such customer, supplier, licensee or business relation and the Company and any Subsidiary or (iv) directly or indirectly acquire or attempt to acquire an interest in any
business relating to the business of the Company, Employer or any of their respective Subsidiaries and with which the Company, Employer and any of their respective Subsidiaries has entertained discussions or has requested and received information
relating to the acquisition of such business by the Company, Employer or any of their respective Subsidiaries in the two-year period immediately preceding a Separation. 
  
 (c) Enforcement. If, at the time of enforcement of Section 7 or this Section 8, a court holds that the
restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum duration, scope or geographical area reasonable under such circumstances shall be substituted for the stated period, scope or
area and that the court shall be allowed to revise the restrictions contained herein to cover the maximum duration, scope and area permitted by law. Because Executive’s services are unique and because Executive has access to confidential
information, the parties hereto agree that money damages would be an inadequate remedy for any breach of this Agreement. Therefore, in the event a breach or threatened breach of this Agreement, the Company, Employer, their respective Subsidiaries or
Affiliates or their successors or assigns may, in addition to other rights and remedies existing in their favor, apply to any court of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce, or prevent
any violations of, the provisions hereof (without posting a bond or other security). 
  
 (d) Additional Acknowledgments. Executive acknowledges that the provisions of this Section 8 are in consideration of: (i) employment with the Employer, (ii) the issuance of the Carried Units by the
Company and (iii) additional good and valuable consideration as set forth in this Agreement. In addition, Executive agrees and acknowledges that the restrictions contained in Section 7 and this Section 8 do not preclude Executive from

  

 10 

 earning a livelihood, nor do they unreasonably impose limitations on Executive’s ability to earn a living. In
addition, Executive acknowledges (i) that the business of the Company, Employer and their respective Subsidiaries will be international in scope and without geographical limitation, (ii) notwithstanding the state of incorporation or principal office
of the Company, Employer or any of their respective Subsidiaries, or any of their respective executives or employees (including the Executive), it is expected that the Company and Employer will have business activities and have valuable business
relationships within its industry throughout the world, and (iii) as part of her responsibilities, Executive will be traveling in furtherance of Employer’s business and its relationships. Executive agrees and acknowledges that the potential
harm to the Company and Employer and their respective Subsidiaries of the non-enforcement of Section 7 and this Section 8 outweighs any potential harm to Executive of its enforcement by injunction or otherwise. Executive acknowledges
that she has carefully read this Agreement and has given careful consideration to the restraints imposed upon Executive by this Agreement, and is in full accord as to their necessity for the reasonable and proper protection of confidential and
proprietary information of the Company and Employer now existing or to be developed in the future. Executive expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable with respect to subject matter, time
period and geographical area. 
  
 GENERAL PROVISIONS 
  
 9. Definitions. 
  
 “Affiliate” means, (i) with respect to any Person, any
Person that controls, is controlled by or is under common control with such Person or an Affiliate of such Person, and (ii) with respect to any Investor, any general or limited partner of such Investor, any employee or owner of any such partner, or
any other Person controlling, controlled by or under common control with such Investor. 
  
 “Board” means the Board of Managers of the Company. 
  
 “Class A Preferred” means the Class A Preferred Units as defined in the LLC Agreement. 
  
 “Carried Units” will continue to be Carried Units in the
hands of any holder other than Executive (except for the Company and the Investors and except for transferees in a Public Sale), and except as otherwise provided herein, each such other holder of Carried Units will succeed to all rights and
obligations attributable to Executive as a holder of Carried Units hereunder. Carried Units will also include equity of the Company (or a corporate successor to the Company) issued with respect to Carried Units (i) by way of a unit split, unit
dividend, conversion, or other recapitalization (excluding any Class A Preferred issued herein) or (ii) by way of reorganization or recapitalization of the Company in connection with the incorporation of a corporate successor prior to a Public
Offering. Notwithstanding the foregoing, all Unvested Units shall remain Unvested Units after any Transfer thereof. 
  
 “Cause” means (i) the commission of a felony or a crime involving moral turpitude or the commission of any other act or omission
involving dishonesty or fraud with respect to the Company, Employer or any of their respective Subsidiaries or any of their 
  

 11 

 customers or suppliers, (ii) conduct tending to bring the Company, Employer or any of their respective Subsidiaries into
substantial public disgrace or disrepute, (iii) substantial and repeated failure to perform duties of the office held by Executive as reasonably directed by the Board, (iv) gross negligence or willful misconduct with respect to the Company, Employer
or any of their respective Subsidiaries or (v) any breach of Sections 6(a)(ii), 7 or 8 of this Agreement. 
  
 “Fair Market Value” of Carried Units means the average of the closing prices of the sales of such Carried Units on all securities
exchanges on which such Carried Units may at the time be listed, or, if there have been no sales on any such exchange on any day, the average of the highest bid and lowest asked prices on all such exchanges at the end of such day, or, if on any day
such Carried Units is not so listed, the average of the representative bid and asked prices quoted in the NASDAQ System as of 4:00 P.M., New York time, or, if on any day such Carried Units are not quoted in the NASDAQ System, the average of the
highest bid and lowest asked prices on such day in the domestic over-the-counter market as reported by the National Quotation Bureau Incorporated, or any similar successor organization, in each such case averaged over a period of 21 days consisting
of the day as of which the Fair Market Value is being determined and the 20 consecutive business days prior to such day. If at any time such Carried Units are not listed on any securities exchange or quoted in the NASDAQ System or the
over-the-counter market, the Fair Market Value will be the fair value of such Carried Units as determined in good faith by the Board. If Executive reasonably disagrees with such determination, Executive shall deliver to the Board a written notice of
objection within ten days after delivery of a Repurchase Notice (or if no Repurchase Notice is delivered, then within ten days after delivery of the Supplemental Repurchase Notice). Upon receipt of Executive’s written notice of objection, the
Board and Executive will negotiate in good faith to agree on such Fair Market Value. If such agreement is not reached within 30 days after the delivery of the Repurchase Notice (or if no Repurchase Notice is delivered, then within 30 days after the
delivery of the Supplemental Repurchase Notice), Fair Market Value shall be determined by an appraiser jointly selected by the Board and Executive, which appraiser shall submit to the Board and Executive a report within 30 days of its engagement
setting forth such determination. If the parties are unable to agree on an appraiser within 45 days after delivery of the Repurchase Notice or the Supplemental Repurchase Notice, within seven days, each party shall submit the names of four
nationally recognized firms that are engaged in the business of valuing non-public securities, and each party shall be entitled to strike two names from the other party’s list of firms, and the appraiser shall be selected by lot from the
remaining four firms. The expenses of such appraiser shall be borne by Executive unless the appraiser’s valuation is more than 10% greater than the amount determined by the Board, in which case, the expenses of the appraiser shall be borne by
the Company. The determination of such appraiser as to Fair Market Value shall be final and binding upon all parties. 
  
 “Family Group” means, with respect to a Person who is an individual, such Person’s spouse and descendants (whether natural or
adopted), and any trust, family limited partnership, limited liability company or other entity wholly owned, directly or indirectly, by such Person or such Person’s spouse and/or descendants that is and remains solely for the benefit of such
Person and/or such Person’s spouse and/or descendants and any retirement plan for such Person. 
  

 12 

 “GAAP” means United States generally accepted accounting principles as in effect from
time to time. 
  
 “LLC Agreement” means the
Limited Liability Company Agreement of the Company, as amended from time to time pursuant to its terms. 
  
 “Original Cost” means, with respect to each Common Unit purchased hereunder, $0.0333 (as proportionately adjusted for all subsequent unit
splits, unit dividends and other recapitalizations). 
  
 “Person” means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, investment fund, any other business
entity and a governmental entity or any department, agency or political subdivision thereof. 
  
 “Public Offering” means the sale in an underwritten public offering registered under the Securities Act of equity securities of the Company or a corporate successor to the Company. 
  
 “Public Sale” means (i) any sale pursuant to a registered
public offering under the Securities Act or (ii) any sale to the public pursuant to Rule 144 promulgated under the Securities Act effected through a broker, dealer or market maker (other than pursuant to Rule 144(k) prior to a Public Offering).

  
 “Quarter Date” means February, May, August
and November of each year beginning on August 14, 2003 and ending on February 14, 2008. 
  
 “Sale of the Company” means any transaction or series of transactions pursuant to which any Person or group of related Persons other than the Investors or their Affiliates in the aggregate acquire(s)
(i) equity securities of the Company possessing the voting power (other than voting rights accruing only in the event of a default, breach or event of noncompliance) to elect a majority of the Company’s board of managers (whether by merger,
consolidation, reorganization, combination, sale or transfer of the Company’s equity, securityholder or voting agreement, proxy, power of attorney or otherwise) or (ii) all or substantially all of the Company’s assets determined on a
consolidated basis; provided that a Public Offering shall not constitute a Sale of the Company. 
  
 “Securities Act” means the Securities Act of 1933, as amended from time to time. 
  
 “Securityholders Agreement” means the Securityholders
Agreement of even date herewith among the Company and certain of its securityholders, as amended from time to time pursuant to its terms. 
  
 “Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership, association, or business entity
of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, or trustees thereof is at the time owned or
controlled, directly or indirectly, by that Person or one or more of the other 
  

 13 

 Subsidiaries of that Person or a combination thereof, or (ii) if a limited liability company, partnership, association,
or other business entity (other than a corporation), a majority of partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more Subsidiaries of that Person or a
combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association, or other business entity (other than a corporation) if such Person or
Persons shall be allocated a majority of limited liability company, partnership, association, or other business entity gains or losses or shall be or control any managing director or general partner of such limited liability company, partnership,
association, or other business entity. For purposes hereof, references to a “Subsidiary” of any Person shall be given effect only at such times that such Person has one or more Subsidiaries, and, unless otherwise indicated, the term
“Subsidiary” refers to a Subsidiary of the Company. 
  
 “Transfer” means to sell, transfer, assign, pledge or otherwise dispose of (whether with or without consideration and whether voluntarily or involuntarily or by operation of law). 
  
 10. Notices. Any notice provided for in this Agreement must be in
writing and must be either personally delivered, mailed by first class mail (postage prepaid and return receipt requested) or sent by reputable overnight courier service (charges prepaid) to the recipient at the address below indicated: 

 
 If to Employer: 
  
 TSI Telecommunication Services, 
 BV. 
 201 North Franklin Street 

Tampa, Florida 33602 
 Attention: Robert
Garcia, Jr. 
  
 with copies to: 
  
 GTCR Fund VII, L.P. 
 GTCR Fund VII/A, L.P. 
 GTCR Co-Invest, L.P.

 c/o GTCR Golder Rauner, L.L.C. 
 6100 Sears Tower 
 Chicago, Illinois 60606-6402 

	 	Attention:	 	David A. Donnini 

	 	    	 	Collin E. Roche 

  
 and 
  
 Kirkland & Ellis 
 200 East Randolph
Drive 
 Chicago, Illinois 60601 

	 	Attention:	 	Stephen L. Ritchie 

  

 14 

 If to the Company: 
  
 TSI Telecommunication 
 Holdings, LLC 
 201 North Franklin Street 
 Tampa, Florida 33602 

	 	Attention:	 	Robert Garcia, Jr. 

  
 with copies to: 
  
 GTCR Fund VII, L.P. 
 GTCR Fund VII/A, L.P.

 GTCR Co-Invest, L.P. 
 c/o
GTCR Golder Rauner, L.L.C. 
 6100 Sears Tower 
 Chicago, Illinois 60606-6402 

	 	Attention:	 	David A. Donnini 

	 	    	 	Collin E. Roche 

  
 and 
  
 Kirkland & Ellis 
 200 East Randolph
Drive 
 Chicago, Illinois 60601 

	 	Attention:	 	Stephen L. Ritchie 

  
 If to Executive: 
  
 Eugene Bergen Henegouwen 
 Rijsstraatweg        123958        ES, 
 Amerongen

 Netherlands 
  
 If to the Investors: 
  
 GTCR Fund VII, L.P. 
 GTCR Fund VII/A, L.P.

 GTCR Co-Invest, L.P. 
 c/o
GTCR Golder Rauner, L.L.C. 
 6100 Sears Tower 
 Chicago, Illinois 60606-6402 

	 	Attention:	 	David A. Donnini 

	 	    	 	Collin E. Roche 

  

 15 

 with a copy to: 
  
 Kirkland & Ellis 
 200 East Randolph Drive 
 Chicago, Illinois 60601 

	 	Attention:	 	Stephen L. Ritchie 

  
 or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. Any notice under this Agreement will be deemed to have been
given when so delivered or sent or, if mailed, five days after deposit in the U.S. mail. 
  
 11. General Provisions. 
  
 (a) Transfers in Violation of Agreement. Any Transfer or attempted Transfer of any Carried Units in violation of any provision of this Agreement shall be void, and the Company shall not record such Transfer on its books or treat any
purported transferee of such Carried Units as the owner of such equity for any purpose. 
  
 (b) Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be
invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be
reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 
  
 (c) Complete Agreement. This Agreement, those documents expressly referred to herein and other documents of even date herewith embody the complete
agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way. 
  
 (d) Counterparts. This Agreement may be executed in separate
counterparts (including by means of facsimile), each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 
  

(e) Successors and Assigns. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by
Executive, the Company, the Employer, the Investors and their respective successors and assigns (including subsequent holders of Carried Units); provided that the rights and obligations of Executive under this Agreement shall not be assignable
except in connection with a permitted transfer of Carried Units hereunder. 
  
 (f) Choice of Law. The limited liability company law of the State of Delaware will govern all questions concerning the relative rights of the Company and its 
  

 16 

 securityholders. All other questions concerning the construction, validity and interpretation of this Agreement and the
exhibits hereto will be governed by and construed in accordance with the internal laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other
jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. 
  
 (g) Remedies. Each of the parties to this Agreement (including the Investors as third-party beneficiaries) will be entitled to enforce its rights
under this Agreement specifically, to recover damages and costs (including attorney’s fees) caused by any breach of any provision of this Agreement and to exercise all other rights existing in its favor. The parties hereto agree and acknowledge
that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for
specific performance and/or other injunctive relief in order to enforce or prevent any violations of the provisions of this Agreement. 
  
 (h) Amendment and Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of the Company, Employer,
Executive and the Majority Holders (as defined in the Purchase Agreement). 
  
 (i) Insurance. The Company or Employer, at its discretion, may apply for and procure in its own name and for its own benefit life and/or disability insurance on Executive in any amount or amounts considered
available. Executive agrees to cooperate in any medical or other examination, supply any information, and to execute and deliver any applications or other instruments in writing as may be reasonably necessary to obtain and constitute such insurance.
Executive hereby represents that she has no reason to believe that her life is not insurable at rates now prevailing for healthy men of her age. 
  
 (j) Business Days. If any time period for giving notice or taking action hereunder expires on a day which is a Saturday, Sunday or holiday in the
state in which the Company’s chief executive office is located, the time period shall be automatically extended to the business day immediately following such Saturday, Sunday or holiday. 
  
 (k) Indemnification and Reimbursement of Payments on Behalf of
Executive. The Company, Employer and their respective Subsidiaries shall be entitled to deduct or withhold from any amounts owing from the Company or any of its Subsidiaries to Executive any federal, state, local or foreign withholding taxes,
excise taxes, or employment taxes (“Taxes”) imposed with respect to Executive’s compensation or other payments from the Company or any of its Subsidiaries or Executive’s ownership interest in the Company, including,
without limitation, wages, bonuses, dividends, the receipt or exercise of equity options and/or the receipt or vesting of restricted equity. In the event the Company or its Subsidiaries does not make such deductions or withholdings, Executive shall
indemnify the Company and its Subsidiaries for any amounts paid with respect to any such Taxes, together with any interest, penalties and related expenses thereto. 
  
 (l) Reasonable Expenses. The Company agrees to pay the reasonable fees and expenses of Executive’s counsel
arising in connection with the negotiation and execution of 
  

 17 

 this Agreement and the consummation of the transactions contemplated by this Agreement. 
  
 (m) Termination. This Agreement (except for the provisions of
Sections 6(a) and (b)) shall survive a Separation and shall remain in full force and effect after such Separation. 
  
 (n) Adjustments of Numbers. All numbers set forth herein that refer to unit prices or amounts will be appropriately adjusted to reflect unit
splits, unit dividends, combinations of units and other recapitalizations affecting the subject class of equity. 
  
 (o) Deemed Transfer of Carried Units. If the Company (and/or the Investors and/or any other Person acquiring securities) shall make available, at
the time and place and in the amount and form provided in this Agreement, the consideration for the Carried Units to be repurchased in accordance with the provisions of this Agreement, then from and after such time, the Person from whom such units
are to be repurchased shall no longer have any rights as a holder of such units (other than the right to receive payment of such consideration in accordance with this Agreement), and such units shall be deemed purchased in accordance with the
applicable provisions hereof and the Company (and/or the Investors and/or any other Person acquiring securities) shall be deemed the owner and holder of such units, whether or not the certificates therefor have been delivered as required by this
Agreement. 
  
 (p) No Pledge or Security Interest. The
purpose of the Company’s retention of Executive’s certificates and executed security powers is solely to facilitate the repurchase provisions set forth in Section 3 herein and Section 6 of the Securityholders Agreement and
does not constitute a pledge by Executive of, or the granting of a security interest in, the underlying equity. 
  
 (q) Rights Granted to GTCR Fund VII and its Affiliates. Any rights granted to GTCR Fund VII, GTCR Fund VII/A, GTCR Co-Invest and their Affiliates
hereunder may also be exercised (in whole or in part) by their respective designees (which designees may be Affiliates of GTCR Fund VII, GTCR Fund VII/A and/or GTCR Co-Invest). 
  
 * * * * * 
  

 18 

 IN WITNESS WHEREOF, the parties hereto have executed this Senior Management Agreement on the date first
written above. 
  

	 TSI TELECOMMUNICATION HOLDINGS, LLC

		
	 By:
	 	 /s/    G. Edward Evans

	 Its:
	 	 Chief Executive Officer

	
	 TSI TELECOMMUNICATION SERVICES,BV.

		
	 By:
	 	 /s/    Raymond L. Lawless

	 Its:
	 	 Managing Director

		
	 	 	 /s/    Eugene Bergen Henegouwen

	 	 	 Eugene Bergen Henegouwen

  

 19 

	 Agreed and Accepted:

	
	 GTCR FUND VII, L.P.

		
	 By:
	 	 GTCR Partners VII, L.P.

	 Its:
	 	 General Partner

		
	 By:
	 	 GTCR Golder Rauner, L.L.C.

	 Its:
	 	 General Partner

		
	 By:
	 	 /s/    David A.
Donnini        

	 Name:
	 	 David A. Donnini

	 Its:
	 	 Principal

	
	 GTCR FUND VII/A, L.P.

		
	 By:
	 	 GTCR Partners VII, L.P.

	 Its:
	 	 General Partner

		
	 By:
	 	 GTCR Golder Rauner, L.L.C.

	 Its:
	 	 General Partner

		
	 By:
	 	 /s/    David A.
Donnini        

	 Name:
	 	 David A. Donnini

	 Its:
	 	 Principal

	
	 GTCR CO-INVEST, L.P.

		
	 By:
	 	 GTCR Golder Rauner, L.L.C.

	 Its:
	 	 General Partner

		
	 By:
	 	 /s/    David A.
Donnini        

	 Name:
	 	 David A. Donnini

	 Its:
	 	 Principal

  

 20 

 EXHIBIT A 
  
 Not Applicable 
  
 * * * * * 

 EXHIBIT B 
  
 ASSIGNMENT SEPARATE FROM CERTIFICATE 
  
 FOR VALUE RECEIVED,
                     does hereby sell, assign and transfer unto
                            , a
                            ,
                                     of TSI
Telecommunication Holdings, LLC, a Delaware limited liability company (the “Company”), standing in the undersigned’s name on the books of the Company represented by Certificate Nos.
                             herewith and does hereby irrevocably constitute and appoint each
principal of GTCR Golder Rauner, L.L.C. (acting alone or with one or more other such principals) as attorney to transfer the said securities on the books of the Company with full power of substitution in the premises. 
  

		
	 Dated: May 14, 2003
	 	 /s/    Eugene Bergen
Henegouwen

	 	 	 Eugene Bergen Henegouwen

  

 EXHIBIT C 
  
 LLC JOINDER AGREEMENT 
  
 This joinder agreement is being delivered to TSI Telecommunication Holdings, LLC, a Delaware limited liability company (the “Company”), in
connection with that certain Limited Liability Company Agreement, dated as of February 14, 2002 (as amended from time to time, the “LLC Agreement”), among the Company and certain other Unitholders of the Company who are from time to time
party thereto. Capitalized terms used herein shall have the meanings assigned to such terms in the LLC Agreement. 
  
 The undersigned has purchased 270,270.27 Common Units of the Company pursuant to a Senior Management Agreement dated May 14, 2003 (the
“Purchase”). 
  
 In connection with the Purchase, and as
a condition thereto, the undersigned hereby agrees to become a party to the LLC Agreement (as a “Unitholder” and a “Common Unitholder” thereunder) and agrees to be bound by the provisions of the LLC Agreement. 
  
 Date: May 14, 2003 
  

	
	 /s/    Eugene Bergen
Henegouwen        

	 Eugene Bergen Henegouwen

	
	 Acknowledged and Agreed:

	 TSI Telecommunication Holdings, LLC

	
	 /s/    G. Edward Evans        

	 G. Edward Evans, its Chief Executive Officer

 SECURITYHOLDERS JOINDER AGREEMENT 
  
 This joinder agreement is being delivered to TSI Telecommunication Holdings, LLC, a Delaware limited liability company (the
“Company”), in connection with that certain Securityholders Agreement, dated as of February 14, 2002 (as amended from time to time, the “Securityholders Agreement”), among the Company and certain other Securityholders of the
Company who are from time to time party thereto. Capitalized terms used herein shall have the meanings assigned to such terms in the Securityholders Agreement. 
  

The undersigned has purchased 270,270.27 Common Units of the Company pursuant to a Senior Management Agreement dated May 14, 2003 (the
“Purchase”). 
  
 In connection with the Purchase, and as
a condition thereto, the undersigned hereby agrees to become a party to the Securityholders Agreement (as a “Securityholder” and an “Executive” thereunder) and agrees to be bound by the provisions of the Securityholders
Agreement. 
  
 Date: May 14, 2003 
  

	
	 /s/    Eugene Bergen
Henegouwen        

	 Eugene Bergen Henegouwen

	
	 Acknowledged and Agreed:

	 TSI Telecommunication Holdings, LLC

	
	 /s/    G. Edward Evans        

	 G. Edward Evans, its Chief Executive Officer

 REGISTRATION JOINDER AGREEMENT 
  
 This joinder agreement is being delivered to TSI Telecommunication Holdings, LLC, a Delaware limited liability company (the
“Company”), in connection with that certain Registration Agreement, dated as of February 14, 2002 (as amended from time to time, the “Registration Agreement”), among the Company and certain other Securityholders of the Company
who are from time to time party thereto. Capitalized terms used herein shall have the meanings assigned to such terms in the Registration Agreement. 
  
 The undersigned has purchased 270,270.27 Common Units of the Company pursuant to a Senior Management Agreement dated May 14, 2003 (the
“Purchase”). 
  
 In connection with the Purchase, and as
a condition thereto, the undersigned hereby agrees to become a party to the Registration Agreement (as an “Executive” thereunder) and agrees to be bound by the provisions of the Registration Agreement. 
  
 Date: May 14, 2003 
  

	
	 /s/    Eugene Bergen
Henegouwen        

	 Eugene Bergen Henegouwen

	
	 Acknowledged and Agreed:

	 TSI Telecommunication Holdings, LLC

	
	 /s/    G. Edward Evans        

	 G. Edward Evans, its Chief Executive Officer

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