Document:

EX-10.EE

 Exhibit 10-ee 

AMENDED AND RESTATED CONTRIBUTION AGREEMENT 

This Amended and Restated Contribution Agreement (the “Agreement”) is entered into as of the 15th day of October, 2018, by and among Brock Fiduciary Services LLC (the “Independent Fiduciary”); JP Morgan Chase Bank, N.A., as directed trustee of the SBC Master Pension Trust (the
“Trustee”); AT&T Inc.; and AT&T Mobility II LLC, an indirect wholly owned subsidiary of AT&T Inc. (the “Issuer”). 

RECITALS 

WHEREAS, AT&T Inc., formerly known as SBC Communications Inc., is a holding company incorporated under the laws of
the State of Delaware; 
 WHEREAS, on September 9, 2013, AT&T Inc. made an
in-kind contribution (the “Contribution”) of 320 million cumulative perpetual preferred membership interests (each a “Preferred Interest” and collectively, the “Preferred
Interests”) of the Issuer to the SBC Master Pension Trust (the “Trust”), which holds assets of the AT&T Pension Benefit Plan (the “Plan”) pursuant to the terms of a Contribution Agreement between the Independent
Fiduciary, Trustee, AT&T Inc., and Issuer, dated as of August 30, 2013 (the “Initial Agreement”); 

WHEREAS, on September 9, 2013, the Independent Fiduciary and AT&T Inc. entered into a Supplemental
Contribution Agreement which added certain provisions to the Initial Agreement (the “Supplement”); 

WHEREAS, the U.S. Department of Labor (“Labor Department”) issued a Prohibited Transaction Exemption (the
“PTE”) with respect to the Contribution; 
 WHEREAS, on September 30, 2014 the Independent Fiduciary,
AT&T Inc., Issuer, and AT&T Services, Inc., entered into a Letter Agreement, acknowledged by Trustee, which further modified and clarified certain terms under the Initial Agreement (the “Side Letter”). 

WHEREAS, in connection with the making of the Contribution, AT&T Services, Inc. retained the Independent Fiduciary
as named fiduciary and investment manager with respect to the Preferred Interests to be held by the Trust pursuant to an Independent Fiduciary Agreement dated as of May 1, 2012, as amended (the “Independent Fiduciary Agreement”), and
an Investment Management Agreement dated as of August 30, 2013 (the “Investment Management Agreement”); and 

WHEREAS, simultaneously with the execution of this Agreement, the members of Issuer are entering into the Fourth
Amended and Restated Limited Liability Company Agreement of AT&T Mobility II LLC (the “LLC Agreement”); 

WHEREAS, in connection with entering into this Agreement, AT&T Inc. has agreed to make a payment to the Trust in
the amount of $80 million; and  
 WHEREAS, the parties desire to amend and restate the Initial Agreement
as modified by the Side Letter and the Supplement, to, among other things, remove AT&T Inc.’s right to call the 

  
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Preferred Interests and otherwise to replace the Initial Agreement, Side Letter and Supplement with this Agreement. 

AGREEMENT 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, the parties hereto agree as
follows: 
 1.      The parties hereby acknowledge and agree that, pursuant to the Initial
Agreement, Side Letter and Supplement: (a) AT&T Inc. contributed the Preferred Interests to the Trust, as an addition to the Plan’s assets and in consideration of a reduction of AT&T Inc.’s funding obligation with respect to
the Plan, effective as of September 9, 2013 (the “Contribution Date”); and (b) the Independent Fiduciary agreed, effective as of the Contribution Date, to accept the Preferred Interests on behalf of the Trust on the Contribution
Date and, in its capacity as an “investment manager” (as such term is defined under section 3(38) of ERISA) to the Plan, directed the Trustee to take any and all action as it determined was necessary or appropriate to consummate such
acceptance. 
 2.      AT&T Inc. and the Issuer each represents and warrants to the
Independent Fiduciary as of the date of this Agreement, that: 
 (a)      The
Issuer has been duly formed and is existing as a limited liability company in good standing under the laws of the State of Delaware and has all requisite power and authority of a limited liability company to own, lease and operate its assets and to
carry on its business as it is now being conducted. The Issuer is duly qualified to do business as a foreign limited liability company, as applicable, and is in good standing under the laws of each state or other jurisdiction in which the nature of
the activities conducted by it or the ownership or leasing of its properties requires such qualification, other than in such jurisdictions where the failure to so qualify or be in good standing, individually or in the aggregate, would not reasonably
be expected to have a material adverse effect on its business operations; 

(b)      The authorized and outstanding capital classes of the Issuer, as of the
date hereof, is as set forth in the Issuer’s unaudited financial statements for the calendar year ended December 31, 2016, copies of which have been delivered to the Independent Fiduciary; 

(c)      The Preferred Interests have been duly authorized and are and will
remain validly issued; under the Delaware Limited Liability Company Act, neither AT&T Inc. not the Trust has any obligation to make future payments with respect to the Preferred Interests solely by reason of their status as members; 

(d)      This Agreement has been duly authorized, executed and delivered by each
of AT&T Inc. and the Issuer and constitutes a valid and legally binding agreement of AT&T Inc. and the Issuer enforceable against each of them in accordance with its terms, subject to bankruptcy, insolvency, reorganization and other laws of
general applicability relating to or affecting creditors’ rights and to general equity principles; 

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 (e)      The contribution of
the Preferred Interests to the Trust, the compliance by AT&T Inc. and the Issuer with all of the provisions of the Initial Agreement and this Agreement, and the consummation of the transactions contemplated in the Initial Agreement and this
Agreement did not and will not conflict with or result in a breach of any of the terms or provisions of, or constitute a default under, any material indenture, mortgage, deed of trust, loan agreement or other material agreement or instrument to
which AT&T Inc. or any of its subsidiaries, including the Issuer, is now (or was at the Contribution Date) a party or by which AT&T Inc. or any of its subsidiaries, including the Issuer, is now (or was at the Contribution Date) bound, nor
did any such action result in any violation of the provisions of the Amended and Restated Articles of Incorporation or the amended and restated Bylaws of AT&T Inc. or the LLC Agreement, or the charter, bylaws, or LLC operating agreements of any
of their respective subsidiaries or any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over AT&T Inc., the Issuer or any of their respective subsidiaries or any of their respective
properties; 
 (f)      AT&T Inc. is subject to section 13 or 15(d) of the
Securities Exchange Act of 1934, as amended; 
 (g)      Neither the Issuer
nor any person acting on its behalf has offered or sold the Preferred Interests by means of any general solicitation or general advertising within the meaning of Rule 502(c) under the Securities Act of 1933 (the “1933 Act”). 

(h)      No commission, within the meaning of section 408(e)(2) of ERISA, or
brokerage fee will become due or payable in connection with the execution and delivery of this Agreement or the transactions contemplated hereby; and 

(i)      Subject to compliance by the Independent Fiduciary with Section 3
of the Initial Agreement and the accuracy of the Independent Fiduciary’s representations stated therein, it was not necessary in connection with the offer, sale and delivery of the Preferred Interests at the Contribution Date by the Issuer to
AT&T Inc. or by AT&T Inc. to the Trust to register the Preferred Interests under the 1933 Act. 

3.      The Independent Fiduciary, acting on behalf of the Trust: 

(a)      Represents and warrants that it has the authority to act on behalf of
the Trust and that all action necessary on the part of the Independent Fiduciary, including its direction to the Trustee, to authorize the execution and delivery of this Agreement on behalf of the Trust has been taken; 

(b)      Represents and warrants that its directions to the Trustee are pursuant
to the Independent Fiduciary’s authority as an “investment manager” (as such term is defined under section 3(38) of ERISA) to the Plan; 

(c)      Acknowledges that the Preferred Interests have not been registered
under the 1933 Act and were contributed to the Trust in reliance upon an exemption from such registration under the 1933 Act; 

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 (d)      Acknowledges that the
Trust is an institutional “accredited investor” within the meaning of Rule 501 under the 1933 Act; 

(e)      Confirms that the Independent Fiduciary has been informed that the
Preferred Interests (i) are not subject to any registration rights and (ii) are “restricted securities” under the 1933 Act and may not be resold or transferred except in accordance with the terms of the LLC Agreement; 

(f)      Is aware of the adoption of Rule 144 under the 1933 Act (“Rule
144”) by the U.S. Securities and Exchange Commission, which permits limited public resale of securities of an issuer acquired in a nonpublic offering, subject to the satisfaction of certain conditions, including, among other things:
(i) the availability of certain current public information about such issuer, (ii) such public resale being through a broker in an unsolicited “broker’s transaction”, with a “market maker” or in a “riskless
principal transaction” and (iii) the amount of securities being sold during any three month period not exceeding specified limitations; 

(g)      Represents that, (i) prior to accepting the Contribution on behalf
of the Trust, it acquired sufficient information about the Issuer to reach an informed and knowledgeable decision to accept the Contribution, (ii) it had such knowledge and experience in financial and business matters as to make it capable of
evaluating the risks to the Trust of accepting the Contribution and to make an informed decision with respect thereto and (iii) the Trust was able to bear the economic risk of accepting the Contribution; 

(h)      Agrees that the Issuer shall not be required (i) to transfer on
its books any Preferred Interests that have been assigned, sold or otherwise transferred in violation of the provisions of this Agreement or the LLC Agreement nor (ii) to treat as the owner of the Preferred Interests, or otherwise to accord
voting, distribution or other rights to, or admit as a member of the Issuer, any person to whom the Preferred Interests have been assigned, sold or otherwise transferred in contravention of this Agreement or the LLC Agreement; and further agrees
that the Preferred Interests are subject to the provisions of the LLC Agreement (a copy of which the Independent Fiduciary has received and reviewed); 

(i)      Agrees that the Trust shall make no disposition of the Preferred
Interests that is contrary to the terms of the Preferred Interests, this Agreement or the LLC Agreement, and shall not pledge or grant any security interest in the Preferred Interests; provided, however, that the Independent Fiduciary shall have the
authority under Section 2(c) of the Investment Management Agreement relating to swap transactions; and 

(j)      Acknowledges that, in order to reflect the restrictions on the transfer
or other disposition of the Preferred Interests, the Preferred Interests will either be issued in certificated form and held in custody by the Trustee on behalf of the Trust or issued in uncertificated form and evidenced on the Issuer’s or its
transfer agent’s books (at the Issuer’s option), in either case in the name and under the authority of the Trustee, subject to the direction of the Independent Fiduciary, and subject to restrictive legends or restrictive notations in such
books indicating that the Preferred Interests are subject to the provisions of this Agreement and the LLC Agreement (in addition to such other legends or 

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notations contemplated by the LLC Agreement), as the same may be amended from time to time hereafter in accordance with the provisions set forth therein and Delaware law. 

4.      The Preferred Interests shall, pursuant to the LLC Agreement, continue to accrue
cumulative distributions of $1.75 per Preferred Interest per annum, payable quarterly upon declaration by the Issuer and pursuant to the LLC Agreement. At any time when distributions on any outstanding Preferred Interests are in arrears for purposes
of the LLC Agreement: (a) the Issuer shall not be permitted to make any transfer of cash to AT&T Inc. or any other member of the Issuer, whether pursuant to a loan, equity distribution or any other arrangement, and (b) AT&T Inc.
shall not be permitted to declare any dividends on or make any repurchases of its common stock. 

5.      The Independent Fiduciary acknowledges that the aggregate fair market value of the
Preferred Interests upon their delivery to the Trustee on the Contribution Date was $9.2032 billion. AT&T Inc. agrees that such valuation of the Preferred Interests as of the Contribution Date for purposes of the minimum amount required to
meet the funding requirements of sections 412 and section 430 of the Code (without regard to any subsequent adjustments required by such funding requirements with respect to interest accrual or investment experience) did not exceed
$9.2032 billion. 
 6.      The price for each Preferred Interest (“Option
Price”) in the event of an exercise of a Put Option (described below) is the greater of: 

(a)      the fair market value of the Preferred Interest, determined by the
Independent Fiduciary as of the last date of the calendar quarter preceding the date of exercise of a Put Option or, for the portion of the Preferred Interests that cannot be purchased due to the Put 12-Month
Cap (defined in Section 8 below), the fair market value of the Preferred Interest, determined by the Independent Fiduciary as of the last date of the calendar quarter immediately preceding the date such portion of the Preferred Interest is
actually purchased by AT&T Inc., and 
 (b)      the sum of: (i) $25.00,
plus (ii) any accrued and unpaid distributions. 
 For purposes of the foregoing, “the fair market value of the
Preferred Interest” 
 (x)      in cases of exercise of the Put Option on
or after September 9, 2020 (other than an exercise prior to September 9, 2022 as the result of a Contingent Event (defined below)), an amount determined based upon $25.00 plus any accrued and unpaid distributions and market conditions at
the time, and 
 (y)      in cases of exercise of the Put Option prior to
September 9, 2022 as the result of a Contingent Event, an amount determined based upon the sum of: 

(i)      $25.00 plus any accrued and unpaid distributions, and 

(ii)      the present value of future distributions (excluding accrued and
unpaid distributions accounted for in (i) immediately above) through and ending on September 9, 2022. 

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 For purposes of the foregoing, “Contingent Event” means an event
described in Section 8(a), (b) or (c). 
 7.       [Reserved]. 

8.      AT&T Inc. and the Issuer hereby grant to the Trust the right to require AT&T
Inc. to purchase the Preferred Interests (the “Put Option”), at a price per Preferred Interest equal to the Option Price, at any time and from time to time on or after the earliest of (a) the first date that the Issuer’s debt-to-total-capitalization ratio (as defined below) exceeds that of AT&T Inc., (b) the date on which AT&T Inc. is rated below investment grade for two
consecutive calendar quarters by at least two of the following rating agencies: (x) Standard & Poor’s, (y) Moody’s, or (z) Fitch Group, (c) a “Change of Control” as described in Section 9 (and
subject to the additional terms of such Section 9), or (d) September 9, 2020. The Put Option may be exercised as many number of times, and in each case for the number of Preferred Interests, as the Trust elects; provided, however,
that except in the event of a Change of Control, AT&T Inc. and its affiliates shall not be required to purchase more than 106,666,667 Preferred Interests in any twelve-month period (the “Put 12-Month
Cap”) pursuant to this Agreement or the LLC Agreement. For purposes of this Section 8, the Issuer’s “debt-to-total-capitalization ratio” is
defined as the Issuer’s “Debt” (defined below) divided by the sum of the Issuer’s Debt and total members’ equity including outstanding Preferred Interests (as taken directly from the Issuer’s most recently prepared
US GAAP balance sheet), and AT&T Inc.’s “debt-to-total-capitalization ratio” is defined as AT&T Inc.’s Debt divided by the sum of
AT&T Inc.’s Debt and total shareholders’ equity (as taken directly from AT&T Inc.’s most recently prepared US GAAP balance sheet). For purposes of this Section 8, “Debt” of any Person means, without
duplication, (x) all obligations of such Person for borrowed money or with respect to deposits or advances of any kind, and (y) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments. Upon the
Independent Fiduciary’s request, as of the end of any calendar quarter, AT&T Inc. shall, within forty-five (45) calendar days after the end of such calendar quarter, certify as to whether the Issuer’s debt-to-total-capitalization ratio exceeds that of AT&T Inc. In the event of an exercise pursuant to clause (d) above, the Put Option may only be exercised upon
written notice from the Trust delivered to AT&T Inc. during a period beginning on the 15th Business Day prior to the end of each fiscal quarter of AT&T Inc. and ending on the 15th Business Day of the subsequent fiscal quarter of AT&T Inc. The obligation to purchase the Preferred Interests upon exercise of the Put Option may be consummated by, at the sole election of
AT&T Inc., any of (or any combination of) AT&T Inc., its wholly-owned, direct or indirect, subsidiaries or Issuer (each, a “Permitted Purchaser”). 

9.      For purposes of Section 8 hereof, a “Change of Control” means
(a) the occurrence of any merger, reorganization or other transaction that results in AT&T Inc., directly or indirectly, owning less than fifty percent of the capital or profits interests (where the Issuer remains taxable as a partnership),
or equity (if the Issuer becomes taxable as a corporation), of the Issuer exclusive of the Preferred Interests or (b) a transfer of fifty percent or more of the Plan liabilities and Trust assets to an entity not under common control with
AT&T Inc. Upon a Change of Control, the Put Option shall become exercisable in full, thereby giving the Independent Fiduciary the right to require AT&T Inc. to purchase all or any portion of the Preferred Interests at the Option Price,
except that (i) the limitation on the number of Preferred Interests that AT&T Inc. may be required to purchase in any twelve-month period as described in Section 8 shall not apply and (ii) AT&T Inc. shall have a period of up
to one year to pay the Option Price. 

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 10.      At the sole election of AT&T Inc.
or other Permitted Purchaser, as the case may be, payment of the Option Price may be made in (a) fully paid and non-assessable shares of AT&T Inc. common stock (“AT&T Shares”), (b) cash,
or (c) any combination of AT&T Shares and cash. Any AT&T Shares delivered to satisfy all or a portion of the Option Price shall be valued at the average closing price of the 20 trading days preceding the date of delivery of the
applicable notice of exercise of the Put Option by the Trust (or, in the case of a delayed payment pursuant to the one-year payment period described in Section 9 above in connection with a Change of
Control, the 20 trading days preceding the actual date of payment). AT&T Inc., the Independent Fiduciary and the Trustee have executed and delivered an Amended and Restated Registration Rights Agreement, dated as of the date hereof, incorporated
herein for all purposes, providing for the registration of the AT&T Shares under the 1933 Act and other matters as provided therein.  

11.      Notwithstanding anything herein to the contrary, in no event shall AT&T Inc. or any
other Permitted Purchaser, as the case may be, be required to deliver more than 250 million AT&T Shares (the “Capped Number”) to the Trust in settlement of the Option Price for the Preferred Interests; provided, however, AT&T
Inc. may, in its sole and absolute discretion (subject to the last sentence of this Section 11), deliver (or cause any other Permitted Purchase to delivery) more than the Capped Number of AT&T Shares. AT&T Inc. represents and warrants
that the Capped Number is equal to or less than the number of authorized but unissued AT&T Shares that are not reserved for future issuance on the date of this Agreement. In the event AT&T Inc., through delivery of the Capped Number of
AT&T Shares and AT&T Shares in addition to the Capped Number of AT&T Shares, if any, shall not have delivered the full number of AT&T Shares otherwise deliverable in settlement of the Option Price for the Preferred Interests,
AT&T Inc. will use its best efforts to authorize and deliver additional AT&T Shares. AT&T Inc. may elect, solely at its option, to settle the Option Price, in whole or in part, by delivering cash. In the event of a merger,
reorganization, consolidation, recapitalization, separation, split-up, liquidation, share combination, stock split, stock dividend, or other change in the corporate structure of AT&T Inc. affecting the
AT&T Shares (including a conversion of the AT&T Shares into cash or other property), an adjustment may be made in the number and class of shares that may be delivered in settlement of the Option Price for the Preferred Interests, as
determined by AT&T Inc. to prevent dilution or accretion with respect to the Capped Number and reflect such changes in corporate structure (e.g., substitution of successor shares), provided, that, if AT&T does not make any such adjustment or
the Independent Fiduciary disagrees with the adjustment, the Independent Fiduciary can request that AT&T modify its determination and if AT&T fails to do so, the parties shall resolve the matter in accordance with the dispute resolution
procedures specified in the Investment Management Agreement. In the event AT&T Inc., through delivery of the Capped Number of AT&T Shares and AT&T Shares in addition to the Capped Number of AT&T Shares, if any, shall not have
delivered the full number of AT&T Shares otherwise deliverable in settlement of the Option Price for the Preferred Interests (resulting in a shortfall), the Preferred Interests for which neither AT&T Shares nor cash have been delivered shall
remain outstanding, in accordance with their terms.  
 12.      AT&T Inc. and the
Issuer shall be solely responsible for (a) determining the proper treatment of the Preferred Interests, any distributions or other payments with respect thereto, or any proceeds of any redemption or conversion thereof for tax or financial
accounting purposes; (b) any and all regulatory reporting or filings required in connection with or as a result of the Contribution or the Trust’s ownership or disposition of the Preferred Interests; (c) the payment of

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any franchise or similar fees or taxes with respect to the Preferred Interests; and (d) any transfer agency or similar fees or expenses relating to the issuance or transfer of the Preferred
Interests. 
 13.      [Reserved] 

14.      This Agreement shall be binding upon, and inure solely to the benefit of, the Trust,
the Trustee, the Independent Fiduciary, AT&T Inc., the Issuer and their respective successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement. No assignee, purchaser or any other transferee
of any Preferred Interests from the Trust shall be treated as a successor or assign of the Trust for the purpose of this Section 14 by reason of such assignment, purchase or other transfer. 

15.      This Agreement may be amended only by mutual written agreement of the parties. 

16.      This Agreement shall terminate upon the later of the disposition of all Preferred
Interests by the Trust and on such date when the PTE (or any successor thereto) shall no longer be necessary for the Trust to hold or dispose of the Preferred Interests or any AT&T Shares received in exchange therefor pursuant to this Agreement.
In addition, in the event of partial disposition of Preferred Interests by the Trust, this Agreement shall terminate with respect to, and no provisions of this Agreement (including without limitation, the Put Option and the registration rights
associated with the right to receive AT&T Shares) shall apply to, the Preferred Interests that are no longer held by the Trust, effective upon such Preferred Interests ceasing to be held by the Trust. 

17.      In the event of the termination or resignation of the Independent Fiduciary, the
AT&T Inc. Benefit Plan Investment Committee (the “Committee”), shall appoint a successor independent fiduciary in accordance with the terms of the Investment Management Agreement. Such successor independent fiduciary shall acknowledge
in writing the assignment to it of this Agreement and its acceptance of all rights and responsibilities of the Independent Fiduciary hereunder. In the event of a termination or resignation by the Independent Fiduciary, the Independent Fiduciary
shall reasonably cooperate with any successor independent fiduciary appointed by the Committee in transitioning its work-in-progress under this Agreement, which
cooperation shall include, but shall not be limited to, providing copies of all records regarding the Independent Fiduciary’s activities pursuant to this Agreement, if and to the extent requested by the successor independent fiduciary. 

18.      This Agreement shall be governed and construed according to the laws of the State of
Delaware without regard to its conflicts of laws provisions, except as superseded and preempted by ERISA or other laws of the United States. 

19.      The Preferred Interests described herein have been issued pursuant to, and are subject
to the provisions of, the LLC Agreement. In the case of a conflict between this Agreement (including Schedule A hereto) and the LLC Agreement with respect to terms and conditions of the Preferred Interests (including rights and obligations thereto),
the LLC Agreement shall control. 
 20.      This Agreement may be executed by the parties
hereto in counterparts, each of which shall be deemed to be an original, but all such respective counterparts shall together constitute one and the same instrument. 

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 21.      Any disputes arising under this
Agreement shall be resolved in accordance with the dispute resolution procedures specified in the Investment Management Agreement. 

22.      AT&T Inc. hereby agrees that in the event any governmental authority undertakes to
impose or collect any tax with respect to the acquisition, holding or disposition of any Preferred Interests by the Trust (including, without limitation, any Shares received by the Trust in exchange for Preferred Interests), or with respect to any
distribution to the Trust by the Issuer in connection with the Preferred Interests (or such Shares), AT&T Inc. shall, subject to Section 23 of this Agreement, make additional cash contributions to the Trust in the full amount of any
resulting tax, any interest or penalties thereon, and any legal, accounting or other expenses of the Trust, including any such amounts as may be incurred by the Independent Fiduciary that are reimbursed by the Trust, to the extent reasonably
incurred in connection therewith. The Independent Fiduciary shall reasonably cooperate with AT&T Inc. or any of its affiliates in challenging, disputing, settling or compromising any such asserted tax liability. The parties hereto acknowledge
that the Company, or such other person to whom authority with respect to this matter is delegated by the Company, but not the Independent Fiduciary, shall, in its sole discretion be responsible for directing the Trustee with respect to challenging,
disputing, settling or compromising the asserted tax liability on behalf of the Trust. 

23.      Payment of the contributions contemplated by Section 22 shall be made at such time
as AT&T Inc. shall determine so long as the Trust is actively disputing or negotiating the asserted liability, provided that the contributions contemplated herein shall be due and payable as soon as practicable upon the imposition of any final
judgment or lien against the Trust, or in the event that the Company directs the Trust to pay a tax liability. 

24.      Anything herein to the contrary notwithstanding, no contribution(s) shall be required
hereunder to the extent that both (a) the Plan would be deemed to be fully funded (within the meaning Section 7 of this Agreement) after payment of the asserted tax liability and (b) such contribution(s) would be subject to excise tax
as excess contributions pursuant to section 4972 of the Code. 
 [Signature Page Follows] 

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 IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement to be effective as of the date set forth above. 
  

			
	 AT&T INC.

		
	 By:
	 	 
		 	 Name: George B. Goeke

		 	 Title: Senior Vice President and Treasurer

  

					
	 AT&T MOBILITY II LLC

		
	 By:
	 	
AT&T MOBILITY CORPORATION, its sole Manager

					
			
	       
	 	   By:
	 	
		 		 	  

		 		 	 Name: George B. Goeke

		 		 	 Title: Treasurer

  

							
	 BROCK FIDUCIARY SERVICES LLC

		
	 By:  
	 	 Brock Capital Group LLC, its Managing Member

			
		 	 By:
	 	Charles Brock LLC, its Managing Member

							
				
	       
	 	       
	 	   By:
	 	 
		 		 		 	 Name:

		 		 		 	 Title:

  

			
	 JP MORGAN CHASE BANK, N.A.,

as directed trustee of the SBC Master Pension Trust

			
		
	 By:
	 	 
		 	 Name:

		 	 Title:

 Signature Page to 

Amended and Restated Contribution AgreementEX-10.FF

 Exhibit 10-ff 

FOURTH AMENDED AND RESTATED 

LIMITED LIABILITY COMPANY AGREEMENT 

OF 
 AT&T MOBILITY II
LLC 
 This Fourth Amended and Restated Limited Liability Company Agreement (this “Agreement”) is
entered into effective as of the date specified herein by and among New Cingular Wireless Services, Inc., a Delaware corporation (“NCWS”), AT&T Mobility LLC, a Delaware limited liability company (“Mobility”),
AT&T Corp, a New York corporation (“AT&T Corp.”), SBC Master Pension Trust (“Trust”) and BellSouth Mobile Data, Inc., a Georgia corporation (“BSMD”), as the members (the
“Members”), and AT&T Mobility Corporation, a Delaware corporation, as the manager (the “Manager”) of AT&T Mobility II LLC (f/k/a Cingular Wireless II LLC) (the “Company”), which has been
formed as a limited liability company pursuant to the Delaware Limited Liability Company Act (6 Del. C. § 18 101, et seq.) (the “Act”) upon the following terms and conditions. 

WHEREAS, NCWS, Mobility, BSMD and Manager are parties to an Amended and Restated Limited Liability Company Agreement of the
Company with an effective date of January 16, 2008, 6:01 P.M. Eastern Standard Time, which amended and restated the Prior Agreement, and that certain First Amendment to the Amended and Restated Limited Liability Company Agreement of the Company
dated August 25, 2009 by and among NCWS, Mobility and BSMD, as the members, and Manager as the manager of the Company (as amended, the “Original Amended and Restated Agreement”); 

WHEREAS, on January 1, 2010, Centennial Cellular Operating Co LLC (“CCOC”) contributed certain assets to
Mobility II in exchange for a 1.2721165% interest in Mobility II and at such time, and in connection with such contribution, the assets of Mobility II were revalued; 

WHEREAS, on July 1, 2010, CCOC merged with Centennial Communications Corp., a Delaware corporation
(“Centennial”) and as a result of such merger, the Mobility II interest held by CCOC was transferred to Centennial and Centennial was admitted as a member of the Company; 

WHEREAS, on September 9, 2013, the then existing membership interests in the Company were recapitalized into Common
Interests (defined below); 
 WHEREAS, on September 9, 2013, AT&T Inc. contributed a promissory note to the Company
(the “Series A Contribution”) pursuant to a Contribution, Assignment and Assumption Agreement, dated as of August 30, 2013 (which agreement is being amended and restated at or around the date of this Agreement) (as amended and
restated, the “Contribution Agreement”) in exchange for 320,000,000 Series A Preferred Interests (defined below) and the Amended and Restated Agreement was amended and restated and superseded by the Second Amended and Restated
Limited Liability Company Agreement (the “Second Amended and Restated Agreement”) to provide, among other things, for the issuance of the Series A Preferred Interests to AT&T Inc.; 

 WHEREAS, on September 9, 2013, 4:30 P.M. Eastern Daylight Time,
AT&T Inc. contributed 320,000,000 Series A Preferred Interests in the Company to the Trust and the Trust was admitted as a member of the Company and the Second Amended and Restated Limited Liability Company Agreement was amended and restated and
superseded by the Third Amended and Restated Limited Liability Company Agreement (the “Third Amended and Restated Agreement”); 

WHEREAS, on January 1, 2016, Centennial merged with AT&T Corp. and as a result of such merger, the Company interest
held by Centennial was transferred to AT&T Corp. by operation of law, and AT&T Corp. was admitted as a member of the Company and the Third Amended and Restated Agreement was amended (the “First Amendment to Third Amended and Restated
Agreement”); 
 WHEREAS, on December 30, 2016, the Third Amended and Restated Agreement, as amended, was
amended to reflect changes to Section 13 and Section 15 of that agreement (the “Second Amendment to Third Amended and Restated Agreement”); 

WHEREAS, on May 31, 2017, NCWS and Mobility redeemed a portion of their common interests in the Company (the
“Membership Redemption”) and the Third Amended and Restated Agreement as amended, was amended to reflect the Membership Redemption and make certain changes in connection therewith (the “Third Amendment to Third Amended and
Restated Agreement”); 
 WHEREAS, effective May 31, 2017, the Third Amended and Restated Agreement as amended,
was amended to update the final Percentage Interests of the Members resulting from the Membership Redemption based on the finalized valuation received from Duff & Phelps (the “Fourth Amendment to Third Amended and Restated
Agreement”); 
 WHEREAS, on October 15, 2018, the Third Amended and Restated Agreement as amended, was amended
to remove the requirement that the Manager approve transfers of Series A Preferred Interests (the “Fifth Amendment to Third Amended and Restated Agreement”); 

WHEREAS, the Members and the Manager desire to amend and restate the Third Amended and Restated Agreement, as amended, to
provide, among other things, additional rights with respect to any transferee of the Series A Preferred Interests and otherwise to replace the Third Amended and Restated Agreement and First through Fifth Amendments thereof with this Agreement. 

NOW, THEREFORE, in consideration of the premises, and the representations, warranties, covenants and agreements contained
herein, the parties hereto agree as follows: 
 1.        Certain
Definitions. For the purposes of this Agreement, the following terms shall have the following meanings: 

“Act” has the meaning set forth in the Recitals. 

  
 2 

 “Adjusted Capital Account Balance” means, with respect to
any Member as of the date of any determination, the balance in such Member’s Capital Account at such time, after such balance is: 

(a)        Increased by any amounts that such Member is obligated to
restore under the standards set by Treasury Regulation Section 1.704-1(b)(2)(ii)(c) (taking into account the extent to which the Member bears the economic risk of loss for Company liabilities
(other than Member Nonrecourse Debt) as determined in accordance with Code Section 704(b) and the Treasury Regulations thereunder and Treasury Regulation Section 1.752-2) or is deemed obligated to
restore under Treasury Regulation Sections 1.704-2(g) and 1.704-2(i)(5); and 

(b)        Decreased by the amount of the items described in
Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) and 1.704-1(b)(2)(ii)(d)(6). 

The foregoing definition of Adjusted Capital Account Balance is intended to comply with the provisions of Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith. 

“Adjusted Capital Account Deficit” means, with respect to each Member, the deficit balance, if any, of such
Member’s Adjusted Capital Account Balance as of the end of the relevant Allocation Period. 

“Agreement” has the meaning set forth in the Recitals. 

“Allocation Period” means (a) any period commencing on January 1 and ending on the following
December 31 or (b) any portion of the period described in clause (a) for which the Company is required to allocate Net Income, Net Loss and other items of Company income, gain, loss or deduction pursuant to Section 14. 

“AT&T Common Stock” means the common stock, $1.00 par value per share, of AT&T Inc. and any
successor equity securities issued in lieu thereof by any successor of AT&T Inc. 
 “AT&T Corp.”
has the meaning set forth in the Recitals. 
 “AT&T Shares” means AT&T Inc. Common Stock that may
become deliverable pursuant to Section 8(e)(iii) of this Agreement. 
 “AT&T Inc.’s Debt-to-Total-Capitalization Ratio” means AT&T Inc.’s Debt divided by the sum of AT&T Inc.’s Debt and total shareholders’ equity (as taken
directly from AT&T Inc.’s most recently prepared US GAAP balance sheet). 
 “BSMD” has the
meaning set forth in the Recitals. 
 “Business Day” means any day other than a Saturday, Sunday, federal
holiday or a day on which banks in The City of New York are authorized or obligated by law to close. 

  
 3 

 “Capital Account” means the account established and
maintained for each Member on the books of the Company pursuant to Section 15, as said Capital Account may be increased or decreased from time to time. Any reference to Capital Account of a Member shall include the Capital Account of a
predecessor holder of the interest of the Member, or a proportionate share of that Capital Account if the Member has succeeded to less than all of the predecessor’s interest. 

“Capital Contribution” means, with respect to any Member, the amount by which (a) the aggregate amount
of money and the initial Carrying Value of any property (other than money) contributed to the Company by such Member (or its predecessors in interest) with respect to the LLC Interest in the Company held by such Member exceeds (b) the initial
Carrying Value of any liabilities to which such contributed property is subject or that are assumed from such Member in connection with such contribution. 

“Carrying Value” means, with respect to any Company asset or liability (which shall include, for purposes of
this Agreement, the Company’s interest in any asset or liability owned through one or more partnerships) as of the date of any determination, the value at which the asset or liability is properly reflected on the books and records of the
Company as of such date in accordance with Treasury Regulation Section 1.704-1(b)(2)(iv) as follows: 

(a)        The initial Carrying Value of any asset or liability
contributed or transferred by a Member to the Company shall be the fair market value of such asset or liability as agreed to by the transferring Member and the Manager; 

(b)        The Carrying Values of all Company assets and liabilities
shall, except as otherwise provided herein, be adjusted to equal their respective Fair Market Values immediately prior to the following events: (i) immediately prior to a contribution to the Company of more than a de minimis amount of cash or
other property, or a Member’s assumption of more than a de minimis amount of Company liabilities, in exchange for an interest in the Company, the issuance of an interest (other than a de minimis interest) in the Company in consideration of the
performance of services, or the issuance of a Noncompensatory Option (other than an option for a de minimis interest); (ii) the distribution by the Company to a Member of more than a de minimis amount of money or other property in retirement of all
or any portion of its LLC Interest; (iii) the liquidation of the Company within the meaning of Treasury Regulation Section 1.704-1(b)(2)(ii)(g); and (iv) any other event to the extent determined
by the Manager to be permitted and necessary to properly reflect Carrying Values in accordance with the standards set forth in Treasury Regulation Section 1.704-1(b)(2)(iv); provided,
however, that in the event of the issuance of an interest in the Company pursuant to the exercise of a Noncompensatory Option where the right to share in Company capital represented by such LLC Interest differs from the consideration paid to
acquire and exercise such option, the Carrying Value of each Company property immediately after the issuance of such LLC Interest shall be adjusted upward or downward in a manner consistent with Treasury Regulation
Section 1.704-1(b)(2)(iv)(s); 

(c)        The Carrying Value of any Company asset distributed to any
Member or any Company Liability assumed or taken subject to by any Member shall, except as 

  
 4 

 
otherwise provided herein, be the Fair Market Value of such asset (or, in the case of cash, shall be its face amount) or liability as of the date of such distribution or assumption; 

(d)        The Carrying Values of Company assets shall, except as
otherwise provided herein, be increased (or decreased) to reflect any adjustments to the adjusted basis of such assets pursuant to Code Section 734(b) or Code Section 743(b), but only to the extent that such adjustments are taken into
account in determining Capital Accounts pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m) and subparagraph (f) of the definition of “Net Income” and “Net Loss”
or Section 14(c)(vii); provided, however, that Carrying Values shall only be adjusted pursuant to this subparagraph (d) to the extent that the adjustment would be allowable under Treasury Regulation Section 1.704-1(b)(2)(iv)(m)(5) after taking into account any adjustment to Carrying Value required pursuant to subparagraph (b) as a result of the same transaction that would otherwise result in an
adjustment pursuant to this subparagraph (d); 
 (e)        If the
Carrying Value of a Company asset has been determined or adjusted pursuant to subparagraph (a), (b), or (d) or Section 15, such Carrying Value shall thereafter be adjusted by the Depreciation taken into account with respect to such asset
for purposes of the allocations made pursuant to Section 14; and 

(f)        If the Carrying Value of a Company Liability has been
determined or adjusted pursuant to subparagraph (a) or (b) or Section 15, such Carrying Value shall thereafter be adjusted based on the method adopted under subparagraph (e) of the definition of “Net Income” and “Net
Loss” to determine the extent to which the Carrying Value of such liability is treated as satisfied or otherwise taken into account. 

“Change of Control” means the occurrence of any merger, reorganization or other transaction that results in
AT&T Inc., directly or indirectly, owning less than fifty percent of the capital or profits interests (where the Company remains taxable as a partnership), or equity (if the Company becomes taxable as a corporation), of the Company exclusive of
the Series A Preferred Interests. 
 “Code” means the Internal Revenue Code of 1986 (as amended from time
to time, or any successor statute). 
 “Common Interests” shall mean the common membership interests of
the Company, having the powers, preferences, rights, qualifications, limitations and restrictions set forth in Section 7(b) of this Agreement. 

“Common Percentage Interest” of a Member holding Common Interests shall mean such Member’s aggregate
Common Interests’ economic percentage interest in the Company as determined by dividing the Common Interests of such Member by the total Common Interests of all Members, as set forth on Schedule A and as may be
adjusted from time to time. 
 “Company” has the meaning set forth in the Recitals. 

  
 5 

 “Company’s Debt-to-Total-Capitalization Ratio” means the Company’s Debt divided by the sum of the Company’s Debt and total members’ equity including outstanding Series A Preferred Interests (as
taken directly from the Company’s most recently prepared US GAAP balance sheet). 
 “Company
Liability” means any Obligation of the Company. 
 “Contingent Event” means an event described in
Section 8(e)(i)(a), (b) or (c). 
 “Contribution Agreement” has the meaning set forth in the
Recitals. 
 “Debt” of any Person means, without duplication, (a) all obligations of such Person for
borrowed money or with respect to deposits or advances of any kind, and (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments. 

“Depreciation” means, for each Allocation Period, an amount equal to the depreciation, amortization, or
other cost recovery deduction allowable for federal income tax purposes with respect to an asset for such Allocation Period, except that (a) with respect to any asset whose Carrying Value differs from its adjusted tax basis for United States
federal income tax purposes and which difference is being eliminated by use of the “remedial method” defined by Treasury Regulation Section 1.704-3(d), Depreciation for such Allocation Period
shall be the amount of book basis recovered for such Allocation Period under the rules prescribed by Treasury Regulation Section 1.704-3(d)(2) and (b) with respect to any other asset whose Carrying
Value differs from its adjusted basis for federal income tax purposes at the beginning of such Allocation Period, Depreciation shall be an amount which bears the same ratio to such beginning Carrying Value as the federal income tax depreciation,
amortization, or other cost recovery deduction for such Allocation Period bears to such beginning adjusted tax basis; provided, however, that if the adjusted basis for federal income tax purposes of an asset at the beginning of such
Allocation Period is zero, Depreciation shall be determined with reference to such beginning Carrying Value using any reasonable method selected by the Manager. 

“Distribution Payment Date” has the meaning set forth in Section 16(a)(i). 

“Distribution Period” has the meaning set forth in Section 16(a)(i). 

“Effective Time” means the time specified in Section 3. 

“Fair Market Value” means (a) as of the date of any revaluation of Company property in accordance with
Section 15, the fair market value of each Company asset and liability and (b) as of the date of any distribution of Company property or a Member’s assumption or taking subject to a Company Liability, the fair market value of each
Company asset or liability, in each case as determined reasonably and in good faith by the Manager using such reasonable methods of valuation as it may adopt; provided, however, that if at the time of any revaluation of Company
property in accordance with Section 15, the Company has an outstanding Noncompensatory Option, the fair market value of Company property shall be adjusted as provided in Treasury Regulation
Section 1.704-1(b)(2)(iv)(h)(2). 

  
 6 

 “Fifth Amendment to Third Amended and Restated Agreement”
has the meaning set forth in the Recitals. 
 “First Amendment to Third Amended and Restated Agreement”
has the meaning set forth in the Recitals. 
 “Fourth Amendment to Third Amended and Restated Agreement”
has the meaning set forth in the Recitals. 
 “Guaranteed Payment Amount” of a particular Series A
Preferred Return quarterly amount means an amount equal to (a) the Series A Preferred Return quarterly amount less (b) the Series A Preferred Interest Return of Capital Amount for such Series A Preferred Return quarterly amount, and such
amount shall be treated as a guaranteed payment within the meaning of section 707(c) of the Code. 
 “Indemnified
Party” has the meaning set forth in Section 24(b)(v). 
 “Liquidation Amount of the Series A
Preferred Interests” means $25.00 per Series A Preferred Interest. 
 “Liquidation Preference”
means the Liquidation Amount of the Series A Preferred Interests, plus the Unpaid Series A Preferred Interest Return of Capital Amount, plus any accrued but unpaid Series A Preferred Return. 

“LLC Interest” means a Member’s entire limited liability company interest in the Company at any
particular time, evidenced by Common Interests and Series A Preferred Interests. 
 “Manager” has the
meaning set forth in the Recitals. 
 “Members” means those Persons executing this Agreement as Members of
the Company, including any substitute Members or additional Members, in each such person’s capacity as a Member of the Company. 

“Member Nonrecourse Deductions” has the same meaning as the term “partner nonrecourse deductions”
in Treasury Regulation Sections 1.704-2(i)(1) and 1.704-2(i)(2). 

“Member Nonrecourse Debt” has the same meaning as the term “partner nonrecourse debt” in Treasury
Regulation Section 1.704-2(b)(4). 
 “Member Nonrecourse Debt Minimum
Gain” means an amount, with respect to each Member Nonrecourse Debt, equal to the Minimum Gain that would result if such Member Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Treasury Regulation Section 1.704-2(i)(3). 
 “Minimum Gain” has the meaning given the
term “partnership minimum gain” in Treasury Regulation Sections 1.704-2(b)(2) and 1.704-2(d). 

  
 7 

 “Mobility” has the meaning set forth in the Recitals. 

“NCWS” has the meaning set forth in the Recitals. 

“Net Income” and “Net Loss” mean, for each Allocation Period, an amount equal to the
Company’s taxable income or loss for such Allocation Period, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code
Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments: 

(a)        Any income of the Company that is exempt from federal
income tax and not otherwise taken into account in computing Profits or Losses pursuant to this definition of “Net Income” and “Net Loss” shall be added to such taxable income or loss; 

(b)        Any expenditures of the Company described in Code
Section 705(a)(2)(B) or treated as Code Section 705(a)(2)(B) expenditures pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(i), and not otherwise taken into account in
computing Net Income or Net Loss pursuant to this definition of “Net Income” and “Net Loss” shall be subtracted from such taxable income or loss; 

(c)        Gain or loss resulting from any disposition of Company
property with respect to which gain or loss is recognized for federal income tax purposes shall be computed by reference to the Carrying Value of such property, notwithstanding that the adjusted tax basis of such property differs from its Carrying
Value; 
 (d)        In lieu of the depreciation, amortization, and
other cost recovery deductions taken into account in computing such taxable income or loss, there shall be taken into account Depreciation for such Allocation Period, computed in accordance with the definition of “Depreciation;” 

(e)        Income, gain, deduction or loss resulting from the
satisfaction or accrual for federal income tax purposes of a Company Liability with a Carrying Value that differs from its adjusted issue price (if any) shall be computed by reference to the Carrying Value of such liability, with the extent to which
the Carrying Value of such liability is treated as satisfied or otherwise taken into account being determined under any reasonable method adopted by the Manager; and 

(f)        Notwithstanding anything to the contrary in subparagraphs
(a) through (e) above, any items which are specially allocated pursuant to Section 14(c) or (d) shall not be taken into account in computing Net Income or Net Loss. 

The amounts of the items of Company income, gain, loss or deduction available to be specially allocated pursuant to Section 14 shall be
determined by applying rules analogous to those set forth in subparagraphs (a) through (e) above. 

“Noncompensatory Option” has the meaning set forth in Treasury Regulation
Section 1.721-1(f). 

  
 8 

 “Nonrecourse Deductions” has the meaning set forth in
Treasury Regulation Sections 1.704-2(b)(1) and 1.704-2(c). 

“Nonrecourse Liability” has the meaning set forth in Treasury Regulation
Section 1.704-2(b)(3). 
 “Obligation” has the meaning
assigned to that term in Treasury Regulation Section 1.752-1(a)(4)(ii). 

“Option Price” means, for each Series A Preferred Interest, the greater of. 

(a)        the fair market value of the Series A Preferred Interest
as of the last date of the calendar quarter preceding the date of exercise of a Redemption Option or a Put Option, as the case may be or, for the portion of the Series A Preferred Interests that cannot be purchased due to the Put 12-Month Cap, the fair market value of the Series A Preferred Interest as of the last date of the calendar quarter immediately preceding the date such portion of the Series A Preferred Interest is actually redeemed
by the Company, and 
 (b)        the Liquidation Amount of the
Series A Preferred Interests plus any accrued and unpaid distributions. 
 For purposes of the foregoing,
“the fair market value of the Series A Preferred Interest” means: 

(x)        in cases of exercise of the Put Option on or after
September 9, 2020 (other than an exercise prior to September 9, 2022 as the result of a Contingent Event) OR upon exercise of the Redemption Option on or after September 9, 2022, an amount determined based upon the Liquidation Amount
of the Series A Preferred Interests plus any accrued and unpaid distributions and market conditions at the time, and 

(y)        in cases of exercise of the Put Option prior to
September 9, 2022 as the result of a Contingent Event OR upon exercise of the Redemption Option prior to September 9, 2022, an amount determined based upon the sum of: 

(i)        the Liquidation Amount of the Series A Preferred
Interests plus any accrued and unpaid distributions, and 

(ii)        the present value of future distributions (excluding
accrued and unpaid distributions accounted for in (i) immediately above) through and ending on September 9, 2022. 

The independent fiduciary with respect to Series A Preferred Interests held by the SBC Master Pension Trust
shall determine “the fair market value of the Series A Preferred Interests” with respect to Series A Preferred Interests held by the SBC Master Pension Trust. 

  
 9 

 “Original Amended and Restated Agreement” has the meaning
set forth in the Recitals. 
 “Person” means any natural person, partnership (whether general or limited),
trust, estate, association, corporation, custodian, nominee or any other individual or entity in its own or any representative capacity, in each case, whether domestic or foreign, or a limited liability company or foreign limited liability company.

 “Plan” means the AT&T Pension Benefit Plan. 

“Public Indebtedness” means the Cingular Wireless LLC 7.125% Senior Notes, due December 2031 in the
principal amount of $510 million; and the AT&T Wireless Services, Inc. 8.75% Senior Notes, due March 2031 in the principal amount of $896 million. 

“Put 12-Month Cap” has the meaning set forth in
Section 8(e)(i). 
 “Put Option” has the meaning set forth in Section 8(e)(i). 

“Put Option Period” means any period, from time to time, after the Put Option becomes exercisable hereunder,
beginning on the 15th Business Day prior to the end of each fiscal quarter of AT&T Inc. and ending on the 15th Business Day of the
subsequent fiscal quarter of AT&T Inc. 
 “Redemption Option” has the meaning set forth in
Section 8(e)(ii). 
 “Redemption Period” means the period, from time to time, after the Redemption
Option becomes exercisable hereunder, beginning on the 26th Business Day of each fiscal quarter of AT&T Inc. and ending on the 35th Business Day of each fiscal quarter of AT&T Inc. 

“Registration Rights Agreement” means the Amended and Restated Registration Rights Agreement dated
October 15, 2018 among AT&T Inc., Brock Fiduciary Services LLC and the Trust, as may be amended from time to time. 

“Revised Partnership Audit Procedures” shall mean the provisions of Subchapter C of Subtitle A, Chapter
63 of the Code, as amended by the Bipartisan Budget Act of 2015, P.L. 114-74 (together with any subsequent amendments thereto, Treasury Regulations promulgated thereunder, and published administrative
interpretations thereof). 
 “Second Amended and Restated Agreement” has the meaning set forth in the
Recitals. 
 “Second Amendment to Third Amended and Restated Agreement” has the meaning set forth in the
Recitals. 
 “Series A Contribution” has the meaning set forth in the Recitals. 

“Series A Preferred Interest Return of Capital Amount” means, with respect to each Series A Preferred
Interest, (a) for each quarter in the first five (5) years following the 

  
 10 

 
issuance of the Series A Preferred Interests an amount equal to the quotient where (i) the difference between (A) the Capital Contribution of the Series A Preferred Interest and
(B) the Liquidation Amount of the Series A Preferred Interest is the numerator and (ii) twenty (20) is the denominator, and (b) in all other years zero. 

“Series A Preferred Interests” means the series A cumulative perpetual preferred membership interests,
having the powers, preferences, rights, qualifications, limitations and restrictions set forth in Section 7(c) of this Agreement. 

“Series A Preferred Return” means, with respect to each Series A Preferred Interest, a distribution of $1.75
per annum, payable quarterly. A portion of the Series A Preferred Return shall be treated as the Guaranteed Payment Amount and a portion of the Series A Preferred Return shall be treated as the Series A Preferred Interest Return of Capital Amount.

 “Special Rights” means, with respect to any Series A Preferred Interests, the rights set forth in
Section 7(c), Section 8 and Section 23 of this Agreement as applicable to such interests. 
 “Tax
Matters Representative” has the meaning set forth in Section 20. 
 “Third Amended and Restated
Agreement” has the meaning set forth in the Recitals. 
 “Third Amendment to Third Amended and Restated
Agreement” has the meaning set forth in the Recitals. 
 “Transfer” means (a) when used as a
verb, to give, sell, exchange, assign, transfer, pledge, hypothecate, bequeath, devise or otherwise dispose of or encumber, and (b) when used as a noun, the nouns corresponding to such verbs, in either case voluntarily or involuntarily, by
operation of law or otherwise. 
 “Treasury Regulations” means the Income Tax Treasury Regulations,
including Temporary Treasury Regulations, promulgated under the Code, as such regulations are amended, modified or supplemented from time to time. 

“Trust” has the meaning set forth in the Recitals. 

“Unpaid Series A Preferred Interest Return of Capital Amount” means, with respect to each Series A Preferred
Interest, an amount equal to (a) the Capital Contribution of the Series A Preferred Interest, minus (b) the Liquidation Amount of the Series A Preferred Interest, minus (c) payments of the Series A Preferred Return
treated as the Series A Preferred Interest Return of Capital Amount of the Series A Preferred Interest. 

“Unrealized Gain” attributable to any item of Company property means, as of any date of determination, the
excess, if any, of (a) the Fair Market Value of such property as of such date over (b) the Carrying Value of such property as of such date. With respect to any Company Liability, Unrealized Gain shall mean, as of any date of determination,
the excess, if any, of 

  
 11 

 
(a) the Carrying Value of such liability as of such date, over (b) the Fair Market Value of such liability as of such date. 

“Unrealized Loss” attributable to any item of Company property means, as of any date of determination, the
excess, if any, of (a) the Carrying Value of such property as of such date, over (b) the Fair Market Value of such property as of such date. With respect to any Company Liability, Unrealized Loss shall mean, as of any date of
determination, the excess, if any, of (a) the Fair Market Value of such liability as of such date over (b) the Carrying Value of such liability as of such date. 

2.        Name. The name of the limited liability company formed hereby is
AT&T Mobility II LLC. The Company may do business under that name or any other name approved by the Manager. 

3.        Effectiveness. This Agreement shall, upon the execution by all
parties hereto, be fully effective on October 15, 2018. 

4.        Termination of Limited Liability Company Agreement. All prior limited
liability company agreements of the Company are hereby terminated and superseded in its or their entirety by this Agreement. 

5.        Registered Office. The address of the registered office of the
Company in the State of Delaware is 1209 Orange Avenue, Wilmington, Delaware 19801. 

6.        Registered Agent. The name and address of the registered agent of the
Company for service of process on the Company in the State of Delaware is CT Corporation, 1209 Orange Avenue, Wilmington, Delaware 19801. 

7.        Capital Structure. 

(a)    General. Subject to the terms of this Agreement, (i) the Company is authorized to
issue equity interests in the Company designated as “LLC Interests,” which shall constitute limited liability company interests under the Act and shall include initially Common Interests and Series A Preferred Interests and (ii) the
Manager is expressly authorized, by resolution or resolutions, to create and to issue, out of authorized but unissued LLC Interests, different classes, groups or series of LLC Interests and fix for each such class, group or series such voting
powers, full or limited or no voting powers, and such distinctive designations, preferences and relative participating, optional or other special rights and qualifications, limitations or restrictions as determined by the Manager. The Manager shall
have the authority to issue such number of LLC Interests of any class, series or tranche pursuant to clauses (i) and (ii) of the immediately preceding sentence as the Manager shall from time to time determine. Other than as set forth in
this Agreement, or in the instruments governing the terms of the LLC Interests issued pursuant to clause (ii), each LLC Interest shall be identical in all respects with each other LLC Interest. 

(b)    Common Interests. The Common Interests shall have such rights to allocations and
distributions as may be authorized and set forth under this Agreement. The relative rights, powers, preferences, duties, liabilities and obligations of holders of the Common 

  
 12 

 
Interests shall be as set forth herein. Each holder of Common Interests shall be entitled to vote, in person or by proxy, or to act by written consent, on the basis of its Common Percentage
Interest on all matters upon which Members have the right to vote, give approval or take other actions as set forth in this Agreement and provided under the Act. All approvals to be given and other actions to be taken by the holders of Common
Interests pursuant to this Agreement and the Act (whether by vote at a meeting or written consent) may be granted or taken by the holders of Common Interests representing a majority in Common Percentage Interest. 

(c)        Series A Preferred Interests. The Series A Preferred Interests
shall have such rights to allocations and distributions as may be authorized and set forth in this Agreement. The Series A Preferred Interests shall rank senior to any other class or series of equity interests in the Company in respect of the right
to receive distributions and the right to receive payments or distributions out of the assets of the Company, upon voluntary or involuntary liquidation, dissolution or winding up of the Company, all as provided in Section 16 hereof. The Series
A Preferred Interests shall not have any voting power. Accordingly, but subject to Section 23, no holder of Series A Preferred Interests shall have any voting rights (or other approval rights) with respect to their interest in the Company or as
to any other matter (whether under this Agreement or the Act) as a result of holding the Series A Preferred Interests. 

(d)        Certificates; Legend. In the sole discretion of the Manager, the
issued and outstanding LLC Interests may be represented by certificates. In addition to any other legend required with respect to a particular class, group or series of LLC Interests or pursuant to any other agreement between any one or more Members
and the Company, each such certificate shall bear the following legend: 
 THE LLC INTERESTS REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO A FOURTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT AMONG THE COMPANY AND ITS MEMBERS, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICE OF THE COMPANY. NO TRANSFER, SALE, ASSIGNMENT,
PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THE LLC INTERESTS REPRESENTED BY THIS CERTIFICATE MAY BE MADE EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SUCH FOURTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT. 

THE LLC INTERESTS REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS AND MAY NOT BE TRANSFERRED, SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT (A) PURSUANT TO A REGISTRATION STATEMENT EFFECTIVE UNDER SUCH ACT AND LAWS, OR
(B) PURSUANT TO AN EXEMPTION FROM REGISTRATION THEREUNDER. 

  
 13 

 Any LLC Interests issued in uncertificated form may be subject to similar
restrictive notations on the relevant books and records of the Company or its transfer agent. 

(e)        Opt-in to Article 8 of the
Uniform Commercial Code. The Members agree that the LLC Interests may be evidenced by certificates executed by the Manager of the Company and that the LLC Interests shall be securities governed by Article 8 of the Uniform Commercial Code of the
State of Delaware (and the Uniform Commercial Code of any other applicable jurisdiction). 

8.        Transfers of LLC Interests. 

(a)        General Restrictions.  

(i)        No Member may Transfer all or any part of such
Member’s LLC Interest, except as provided in this Section 8. Any purported Transfer of an LLC Interest or a portion thereof in violation of the terms of this Agreement shall be null and void and of no effect. A permitted Transfer shall be
effective as of the date specified in the instruments relating thereto. Any transferee desiring to make a further Transfer shall become subject to all the provisions of this Section 8 to the same extent and in the same manner as any
Member desiring to make any Transfer. 
 (ii)        A person shall
cease to be a Member upon Transfer of all such Member’s LLC Interest. 

(b)        Permitted Transfers. 

(i)        Except as otherwise provided in this
Section 8(b), each Member holding Series A Preferred Interests shall have the right to Transfer (but not to substitute the transferee as a substitute Member in such Member’s place, except in accordance with Section 8(c)), by a
written instrument, all or any part of such Member’s Series A Preferred Interests, if, and only if: (1) the Manager determines in advance that the Transfer will comply with the registration requirements of the Securities Act of 1933 and
any applicable state or other securities laws (including any exemption therefrom); (2) the Manager determines in advance that the Transfer will not cause the Company to become a “publicly traded partnership” within the meaning of
Section 7704(b) of the Code; (3) the transferee has executed an instrument accepting and adopting the terms and provisions of the Certificate and this Agreement; (4) the transferee has executed and become a party to the Registration
Rights Agreement; and (5) the transferee has caused to be paid all reasonable expenses of the Company in connection with the admission of the transferee as a substitute Member. In making the determinations referenced in the prior sentence, the
Manager may require the proposed transferor, the proposed transferee or others to provide such evidence of compliance with the registration requirements referenced above, including an opinion of counsel, certificates or other documentation, as it
may reasonably request. 
 (ii)        Except as otherwise provided
in this Section 8(b), each Member holding Common Interests shall have the right to Transfer (but not to substitute the transferee as a substitute Member in such Member’s place, except in accordance with

  
 14 

 
Section 8(c)), by a written instrument, all or any part of such Member’s Common Interests, if, and only if: (1) the Manager has given its prior approval, which may be withheld in
its sole discretion for any reason or no reason, (2) the transferee has executed an instrument accepting and adopting the terms and provisions of the Certificate and this Agreement; and (3) the transferee has caused to be paid all
reasonable expenses of the Company in connection with the admission of the transferee as a substitute Member. 

(iii)        No Transfer of an LLC Interest shall be effective or
reflected on the books and records of the Company or its transfer agent except in accordance with this Section 8. 

(c)        Substitute Member. No transferee of all or part of a
Member’s LLC Interest shall become a substitute Member in place of the transferor unless and until the terms of Section 8(b) are satisfied. Upon satisfaction of all the foregoing conditions with respect to a particular transferee, the
Manager shall cause the books and records of the Company to reflect the admission of the transferee as a substitute Member to the extent of the Transferred LLC Interest held by the transferee. 

(d)        Effect of Admission as a Substitute Member. A transferee who
has become a substitute Member has, to the extent of the Transferred LLC Interest, all the rights, powers and benefits of and is subject to the restrictions and liabilities of a Member under the Certificate, this Agreement, the Act and, in the case
of a transferee of Series A Preferred Interests, the Registration Rights Agreement. Upon admission of a transferee as a substitute Member, the transferor of the LLC Interest so acquired by the substitute Member shall cease to be a Member of the
Company to the extent of such Transferred LLC Interest. 
 (e)        Put Option
and Redemption Option. 
 (i)        The Company hereby grants
to the holder of Series A Preferred Interests the right to require the Company to purchase the Series A Preferred Interests (the “Put Option”), at a price per Series A Preferred Interest equal to the Option Price, at any time and
from time to time on or after the earliest of (a) the first date that the Company’s Debt-to-Total-Capitalization Ratio exceeds that of AT&T Inc.,
(b) the date on which AT&T Inc. is rated below investment grade for two consecutive calendar quarters by at least two of the following rating agencies: (x) Standard & Poor’s, (y) Moody’s, or (z) Fitch
Group, (c) a Change of Control, or (d) September 9, 2020; provided, however, that except in the event of a Change of Control, the Company shall not be required to purchase more than 106,666,667 Series A Preferred Interests in any
twelve-month period (the “Put 12-Month Cap”). Upon the request of a holder of Series A Preferred Interests, as of the end of any calendar quarter, the Company shall, within forty-five
(45) calendar days after the end of such calendar quarter, certify as to whether the Company’s Debt-to-Total-Capitalization ratio exceeds that of AT&T Inc.
A purchase of Series A Preferred Interests pursuant to Section 8 of the Contribution Agreement shall be treated as a purchase by the Company for purposes of determining whether or not the Put 12-Month Cap
has been met for a given twelve-month period. In the event of an exercise pursuant to clause (d) above, the Put Option may only be exercised upon written notice to the Company during a Put Option Period, specifying the name of the holder of

  
 15 

 
Series A Preferred Interests, number of Series A Preferred Interests to be purchased by the Company (subject to the limitation in the proviso in the previous sentence) and the time and place of
the closing of the Put Option. 
 (ii)        The Company has the
right to purchase from the holder of the Series A Preferred Interests, all or any portion of the Series A Preferred Interests (the “Redemption Option”), at a price per Series A Preferred Interest equal to the Option Price, at any
time and from time to time (1) upon a Change of Control or (2) on or after September 9, 2022. In the event of an exercise pursuant to clause (2) above, the Redemption Option may only be exercised upon written notice to the
holder(s) of Series A Preferred Interests during a Redemption Period, specifying the number of Series A Preferred Interests to be purchased by the Company and the time and place of the closing of the Redemption Option. 

(iii)        At the sole election of the Company, payment of the
Option Price may be made in (a) fully paid and non-assessable AT&T Shares, (b) cash, or (c) any combination of AT&T Shares and cash as the Company shall determine. Any AT&T Shares
delivered to satisfy all or a portion of the Option Price shall be valued at the average closing price of the 20 trading days preceding the date of the applicable notice of exercise (A) by the holder(s) of Series A Preferred interests (in the
case of exercise of a Put Option) or (B) by the Company (in the case of exercise of a Redemption Option). In the event there are two or more holders Series A Preferred Interests, then (x) in the event less than all of the Series A
Preferred Interests are to be purchased by the Company, the Company shall repurchase from each such holder its pro rata portion of Series A Preferred Interests (based on the total number of Series A Preferred Interests held by all such holders) and
(y) in the event the Company elects to pay the Option Price in a combination of AT&T Shares (including in any election effected under subsection (iv) of this Section 8(e)), then the relative proportion of cash and AT&T Shares
shall be the same for all such holders Series A Preferred Interests to the nearest extent practicable, unless otherwise agreed in writing by the Company and any holder(s) who agree to accept a different proportion. 

(iv)        Notwithstanding anything herein to the contrary, in no
event shall the Company be required to deliver more than 250 million AT&T Shares (the “Capped Number”) to the holder(s) of Series A Preferred interests in settlement of the Option Price for the Series A Preferred Interests;
provided, however, the Company may, in its sole and absolute discretion (subject to the last sentence of this Section 8(e)(iv)), deliver more than the Capped Number of AT&T Shares. In the event the Company, through delivery of the Capped
Number of AT&T Shares and AT&T Shares in addition to the Capped Number of AT&T Shares, if any, shall not have delivered the full number of AT&T Shares otherwise deliverable in settlement of the Option Price for the Series A Preferred
Interests, the Company will use its best efforts to acquire and deliver additional AT&T Shares. The Company may elect, solely at its option, to settle the Option Price, in whole or in part, by delivering cash. In the event of a merger,
reorganization, consolidation, recapitalization, separation, split-up, liquidation, share combination, stock split, stock dividend, or other change in the corporate structure of AT&T Inc. affecting the
AT&T Shares (including a conversion of the AT&T Shares into cash or other property), an 

  
 16 

 
adjustment may be made in the number and class of shares that may be delivered in settlement of the Option Price for the Series A Preferred Interests, as determined by the Company to prevent
dilution or accretion with respect to the Capped Number and reflect such changes in corporate structure (e.g., substitution of successor shares). In the event the Company, through delivery of the Capped Number of AT&T Shares and AT&T Shares
in addition to the Capped Number of AT&T Shares, if any, shall not have delivered the full number of AT&T Shares otherwise deliverable in settlement of the Option Price for the Series A Preferred Interests (resulting in a shortfall), the
Series A Preferred Interests for which neither AT&T Shares nor cash have been delivered shall remain outstanding, in accordance with their terms. 

(f)        Private Placement. In the event the holder of Series A Preferred
Interests desires to Transfer some or all of the Series A Preferred Interests pursuant to a private placement offering, the Company shall use its reasonable best efforts to cooperate with such private placement. In the event of a private placement
offering of the Series A Preferred Interests, the following shall apply: 

(i)        The Company shall select the investment banking firm that
will conduct each such private placement offering; 

(ii)        The Company shall provide the financial information,
document preparation and other support required for such private placement offering of the Series A Preferred Interests to the holders of the Series A Preferred Interests and/or to the investment bank on a timely basis; and 

(iii)        The Company shall bear all usual and customary costs
associated with such private placement offering, including reasonable fees and expenses of investment banking firms, legal counsel for the Company and holders of the Series A Preferred Interests and, if required, auditors in connection therewith.

 9.        Members. The name of and LLC Interest held by each of the
Members holding Common Interests and Series A Preferred Interests as of the Effective Time are set forth on Schedule A attached hereto. To the extent any additional or substitute Members are hereafter admitted to the
Company or the respective relative Common Percentage Interests are adjusted as a result of the issuance of additional LLC Interests or the redemption of LLC Interests, the Manager shall revise Schedule A of this Agreement
accordingly. 
 10.        Powers. 

(a)        The business and affairs of the Company shall be managed by a manager, who
may, but need not be, a Member. The Company shall initially have one manager. The number of managers shall be fixed from time to time by the Members, but in no instance shall there be less than one manager. The Members may, with or without cause, at
any time and from time to time, remove the manager then acting and elect a new manager. Any person or entity dealing with the Company may rely on a certificate signed by the manager on any document purporting to bind the Company, which shall
constitute exclusive evidence to third parties of the authority of such person to execute such document on behalf of the Company and so bind the 

  
 17 

 
Company. Subject to any restrictions set forth in manager’s organizational documents, as in effect from time to time, the manager acting on behalf or in respect of the Company is empowered,
subject to the specified terms of this Agreement, to do any and all acts and things necessary, appropriate, proper, advisable, incidental to or convenient for the furtherance and accomplishment of the purposes and business described herein and for
the protection and benefit of the Company and its subsidiaries, including, without limitation, full power and authority, directly or through its subsidiaries or affiliates, to distribute cash to the Members, enter into, perform and carry out
contracts of any kind, borrow money and issue evidences of indebtedness whether or not secured by mortgage, deed of trust, pledge or other lien, acquire, own, manage, improve and develop any property, and lease, sell, transfer and dispose of any
property. The Company shall not be required to hold annual meetings of the Members. 

(b)        The Members, in their capacity as such (and except to the extent that a
Member shall act in the capacity of Tax Matters Representative pursuant to Section 20 hereof) shall have no part in the management of the Company and shall have no authority or right to act on behalf of or bind the Company in connection with
any matter. 
 (c)        AT&T Mobility Corporation is hereby designated to
serve as the manager but may resign upon 30 days’ written notice to the Members and any other manager. 

11.        Dissolution. The Company shall dissolve, and its affairs shall be
wound up, upon the earlier to occur of the following: (a) the written consent of the Manager, subject to Section 10(a), or (b) the entry of a decree of judicial dissolution under
Section 18-802 of the Act. 

12.        Admission. The Members set forth on Schedule A hereto are
hereby confirmed to have been previously properly admitted as Members of the Company. 

13.        Additional Contributions. 

(a)        Except as provided in this Section 13, no Member is required to make
any additional capital contribution to the Company. However, the Members may, in their sole discretion, make additional capital contributions to the Company. 

(b)        In the event that the assets of the Company are insufficient upon
liquidation and dissolution pursuant to Section 11 hereof to fully satisfy the Public Indebtedness, Mobility shall contribute to the Company solely to be used to satisfy such Public Indebtedness an amount necessary to fully satisfy such
indebtedness. In the event that such contribution is made, Mobility shall not be entitled to any right of reimbursement, contribution or other payment from the Company or any of its Members, and Mobility hereby waives and relinquishes any and all
rights of contribution, reimbursement or any other remedy afforded under applicable law or otherwise to a guarantor or assuror of debt, on which more than one person has joint, several or joint and several liability, in connection with a payment on
such debt by the guarantor or assuror. 
 14.        Allocations. Each
Member’s distributive share of the Company’s Net Income, Net Loss and items thereof shall be determined in accordance with the rules of this Section 14. 

(a)    Net Income. Except as otherwise provided in this Section 14, Net Income shall be
allocated among the Members as follows: 

  
 18 

 (i)      First, to the
Members pro rata in proportion to the cumulative Net Losses previously allocated to each Member pursuant to Section 14(b)(ii), until the cumulative allocation of Net Income to each Member pursuant to this Section 14(a)(i) equals the
cumulative allocation of Net Loss to each Member pursuant to Section 14(b)(ii); and 

(ii)      Second, any remaining Net Income to the Members holding Common
Interests pro rata in proportion to their respective Common Percentage Interests. 

(b)      Net Loss. Except as otherwise provided in this Section 14, Net Loss shall
be allocated among the Members as follows: 
 (i)      First, to the Members
holding Common Interests pro rata in proportion to their positive Adjusted Capital Account balances until the Adjusted Capital Account balances of the Members holding Common Interests is reduced to zero; and 

(ii)      Second, any remaining Net Loss to the Members who bear the economic
risk of loss in accordance with the Treasury Regulations. 
 (c)      Special
Allocations. The following special allocations shall be made in the following order: 

(i)      Minimum Gain Chargeback. Except as otherwise provided in
Treasury Regulation Section 1.704-2(f), notwithstanding any other provision of this Section 14, if there is a net decrease in Minimum Gain during any Allocation Period, each Member shall be specially
allocated items of Company income and gain for such Allocation Period (and, if necessary, subsequent Allocation Periods) in an amount equal to such Member’s share of the net decrease in Minimum Gain, determined in accordance with Treasury
Regulation Section 1.704-2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be
so allocated shall be determined in accordance with Treasury Regulation Sections 1.704-2(f)(6) and 1.704-2(j)(2). This Section 14(c)(i) is intended to comply with
the minimum gain chargeback requirement in Treasury Regulation Section 1.704-2(f) and shall be interpreted consistently therewith. 

(ii)      Member Minimum Gain Chargeback. Except as otherwise provided
in Treasury Regulation Section 1.704-2(i)(4), notwithstanding any other provision of this Section 14, if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member
Nonrecourse Debt during any Allocation Period, each Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulation
Section 1.704-2(i)(5), shall be specially allocated items of Company income and gain for such Allocation Period (and, if necessary, subsequent Allocation Periods) in an amount equal to such Member’s
share of the net decrease in Member Nonrecourse Debt, determined in accordance with Treasury Regulation Section 1.704-2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion to
the 

  
 19 

 
respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Treasury Regulation Sections 1.704-2(i)(4) and 1.704-2(j)(2). This Section 14(c)(ii) is intended to comply with the minimum gain chargeback requirement in Treasury Regulation Section 1.704-2(i)(4) and shall be interpreted consistently therewith. 

(iii)      Qualified Income Offset. In the event any Member unexpectedly
receives any adjustments, allocations, or distributions described in Treasury Regulation Section 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) or 1.704-1(b)(2)(ii)(d)(6), items of Company income and gain shall be specially allocated to such Member in an amount and manner sufficient to eliminate, to the extent required by the Treasury Regulation, the
Adjusted Capital Account Deficit of such Member as quickly as possible; provided that an allocation pursuant to this Section 14(c)(iii) shall be made only if and to the extent that such Member would have an Adjusted Capital
Account Deficit after all other allocations provided for in this Section 14 have been tentatively made as if this Section 14(c)(iii) were not in the Agreement. 

(iv)      Gross Income Allocation. In the event any Member has an
Adjusted Capital Account Deficit at the end of any Allocation Period, such Member shall be specially allocated items of Company income and gain in the amount of such deficit as quickly as possible; provided that an allocation pursuant
to this Section 14(c)(iv) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit after all other allocations provided for in this Section 14 have been made as if Section 14(c)(iii) and
this Section 14(c)(iv) were not in the Agreement. 

(v)      Nonrecourse Deductions. Nonrecourse Deductions for any
Allocation Period shall be specially allocated to the Members in proportion to their Percentage Interests. 

(vi)      Member Nonrecourse Deductions. Any Member Nonrecourse
Deductions for any Allocation Period shall be specially allocated to the Member who bears the economic risk of loss with respect to the Member Nonrecourse Debt to which such Member Nonrecourse Deductions are attributable in accordance with Treasury
Regulation Section 1.704-2(i)(1). 

(vii)      Section 754 Adjustments. To the extent Treasury Regulation Section 1.704-1(b)(2)(iv)(m)(2) or 1.704-1(b)(2)(iv)(m)(4) requires an adjustment to the adjusted tax basis of any Company asset pursuant to Code
Section 734(b) or Code Section 743(b) to be taken into account in determining Capital Accounts as the result of a distribution to a Member in complete liquidation of its LLC Interest, the amount of such adjustment to Capital Accounts shall
be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Members in accordance with Treasury Regulation Section 1.704-1(b)(2)(iv)(m)(2) or Treasury Regulation Section 1.704-1(b)(2)(iv)(m)(4), as the case may be; provided, however, that for
this purpose, the determination of the extent to which Treasury Regulation Section 1.704-1(b)(2)(iv)(m)(2) or 1.70-1(b)(2)(iv)(m)(4) requires an
adjustment pursuant to Code Section 734(b) or Code 

  
 20 

 
Section 743(b) to be taken into account in determining Capital Accounts shall be made after taking into account any adjustment to the Carrying Value of the Company’s assets required in
connection with the liquidating distribution pursuant to subparagraph (b) of the definition of “Carrying Value” in Section 1. 

(d)      Curative Allocations. The allocations set forth in Section 14(c) and
Section 14(e) (the “Regulatory Allocations”) are intended to comply with certain requirements of the Treasury Regulations. It is the intent of the Members that, to the extent possible, all Regulatory Allocations shall be offset either
with other Regulatory Allocations or with special allocations of other items of Company income, gain, loss or deduction pursuant to this Section 14(d). Therefore, notwithstanding any other provision of this Section 14 (other than the
Regulatory Allocations), the Manager shall make such offsetting special allocations of Company income, gain, loss or deduction in whatever manner it determines appropriate so that, after such offsetting allocations are made, each Member’s
Capital Account balance is, to the extent possible, equal to the Capital Account balance such Member would have had if the Regulatory Allocations were not part of the Agreement and all Company items were allocated pursuant to this Section 14
without regard to the Regulatory Allocations. In exercising its discretion under this Section 14(d), the Manager shall take into account future Regulatory Allocations that, although not yet made, are likely to offset other previously made
Regulatory Allocations. 
 (e)      Loss Limitation. Net Loss allocated pursuant to
Section 14(b) and the items of loss or deduction allocated pursuant to Section 14(c) and Section 14(d) shall not exceed the maximum amount of Net Loss and items of loss or deduction that can be so allocated without causing any Member
to have an Adjusted Capital Account Deficit at the end of any Allocation Period. 

(f)      Other Allocation Rules. 

(i)      Net Income, Net Loss and any other items of income, gain, loss or
deduction shall be allocated to the Members pursuant to this Section 14 as of the last day of each Allocation Period. 

(ii)      In any cases in which it is necessary to determine the Net Income,
Net Loss or any other items allocable to any period within an Allocation Period, Net Income and Net Loss and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Manager using any permissible method
under Code Section 706 and the Treasury Regulation thereunder. 

(iii)      The Members hereby agree to be bound by the provisions of this
Section 14 in reporting their shares of Company income and loss for income tax purposes, except to the extent otherwise required by law. 

(iv)      Solely for purposes of determining each Member’s share of the
“excess nonrecourse liabilities” of the Company within the meaning of Treasury Regulation Section 1.752-3(a)(3), the manner in which the Members share excess nonrecourse liabilities for any
taxable year shall be determined by the Manager using any permissible method provided under Treasury Regulation Section 1.752-3(a)(3); provided 

  
 21 

 
that unless otherwise determined by the Manager, excess nonrecourse liabilities (within the meaning of Treasury Regulation Section 1.752-3(a)(3))
shall be allocated under the allocation method that (1) will, to the maximum extent possible, result in no Member recognizing taxable gain (or will minimize the taxable gain recognized) under Code Section 731 or otherwise as a result of
any actual or deemed distribution to a Member, while (2) maximizing any Code Section 734(b) positive basis adjustment (or minimizing any Code Section 734(b) negative basis adjustment) resulting from any such actual distribution of
property (the “Preferred Excess Nonrecourse Liability Allocation Method”). For purposes hereof, the Preferred Excess Nonrecourse Liability Allocation Method may be any method or combination of methods permitted by Treasury Regulation Section 1.752-3(a)(3), including the “additional method” of Treasury Regulation Section 1.752-3(a)(3), which allows excess nonrecourse liabilities to be
allocated to a partner based on the amount of built-in gain that is allocable to such partner on Code Section 704(c) property (as defined in Treasury Regulation
Section 1.704-3(a)(3)(ii)) or property for which reverse Code Section 704(c) allocations are applicable (as described in Treasury Regulation
Section 1.704-3(a)(6)(i)) that is subject to a nonrecourse liability to the extent such built-in gain exceeds the gain described in Treasury Regulation Section 1.752-3(a)(2). 
 (g)      Tax Allocations:
Code Section 704(c). 
 (i)      In accordance with
Code Section 704(c) and the applicable Treasury Regulation thereunder, income, gain, loss, and deduction with respect to any property contributed to the capital of the Company before or after the Effective Time or any liability assumed by or
taken subject to by the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property or the adjusted issue price (if any) of such liability to the Company,
as the case may be, for federal income tax purposes and its initial Carrying Value. 

(ii)      In the event the Carrying Value of any Company asset or liability is
adjusted pursuant to subparagraph (b) of the definition of “Carrying Value” in Section 1 and Section 14(b) or (c), subsequent allocations of income, gain, loss, and deduction with respect to such asset or liability shall
take account of any variation between the adjusted basis of such asset or the adjusted issue price (if any) of such liability, as the case may be, for federal income tax purposes and its Carrying Value in the same manner as under Code
Section 704(c) and the applicable Treasury Regulation thereunder. 

(iii)      For purposes of applying Section 704(c) to a contributed or
revalued property or liability, the Manager may, except as otherwise provided herein, elect any permissible method under Section 704(c) of the Code and the Treasury Regulations thereunder; provided, however, that with respect to
the adjustment to the Carrying Value of Company property and liabilities made in connection with the Additional Contributions, the Manager shall, unless otherwise agreed by the Members, elect “the traditional method with curative
allocations” under Treasury Regulation Section 1.704-3(c). 

  
 22 

 (iv)      Except as otherwise
provided in this Agreement, all items of Company income, gain, loss, deduction, and any other allocations not otherwise provided for shall be divided among the Members in the same proportions as they share Net Income or Net Loss, as the case may be,
for the Allocations Period. 
 (v)      Allocations pursuant to this
Section 14(g) are solely for purposes of federal, state, and local taxes and shall not affect, or in any way be taken into account in computing, any Member’s Capital Account or share of Net Income, Net Loss other items, or distributions
pursuant to any provision of this Agreement. 
 15.      Capital Accounts. 

(a)      The Company shall maintain for each Member a Capital Account in accordance with the
rules of Treasury Regulation Section 1.704-1(b)(2)(iv). Such Capital Account shall be (i) increased by (A) the Capital Contributions made by such Member to the Company pursuant to this
Agreement, (B) the Net Income and items of Company income and gain (including income and gain exempt from tax) allocated to such Member pursuant to Section 14 and (C) the Fair Market Value of any Company Liability assumed or taken
subject to by such Member, and (ii) decreased by (A) the amount of cash and the Fair Market Value of any property distributed to such Member pursuant to this Agreement (other than the Guaranteed Payment Amount) and (B) the Net Loss
and items of Company deduction and loss (including expenditures of the Company that are neither deductible nor capitalized for federal income tax purposes) allocated to such Member pursuant to Section 14. In the event a Member transfers an LLC
Interest in accordance with the terms of this Agreement, the transferee shall succeed to the Capital Account of the transferor to the extent it relates to the transferred LLC Interest. 

(b)      In accordance with the provisions of Treasury Regulation Sections 1.704-1(b)(2)(iv)(f) and 1.704-l(b)(2)(iv)(h)(2), immediately prior to a Member’s contribution to the Company of more than a de minimis amount of cash or other property,
or a Member’s assumption of more than a de minimis amount of Company liabilities, in exchange for an interest in the Company, the issuance of an interest (other than a de minimis interest) in the Company in consideration of the performance of
services, or the issuance of a Noncompensatory Option (other than an option for a de minimis interest), the Carrying Value of all Company property and liabilities shall be adjusted in accordance with subparagraph (b) of the definition of
“Carrying Value” in Section 1 and the Capital Accounts of all Members shall be adjusted upward or downward to reflect any Unrealized Gain or Unrealized Loss attributable to Company property and liabilities, as if (i) the
Unrealized Gain or Unrealized Loss with respect to such property and liabilities immediately prior to the contribution or assumption had been recognized on the sale of each such property and the satisfaction of each such liability at that time and
(ii) the resulting items of Unrealized Gain or Unrealized Loss had been allocated among the Members pursuant to Section 14 as if such items were the only items of income, gain, loss, or deduction of the Company for an Allocation Period
ending on the date of the contribution or assumption; provided, however, that in the event of the issuance of an interest in the Company pursuant to the exercise of a Noncompensatory Option where the right to share in Company capital represented by
such interest differs from the consideration paid to acquire and exercise such option, the Carrying Value of each Company property immediately after the issuance of such interest shall be adjusted upward or downward to reflect any Unrealized Gain or
Unrealized Loss attributable 

  
 23 

 
to such Company property and the Capital Accounts of the Members shall be adjusted in a manner consistent with Treasury Regulation
Section 1.704-1(b)(2)(iv)(s). 
 (c)      In
accordance with the provisions of Treasury Regulation Sections 1.704-l(b)(2)(iv)(f) and 1.704-l(b)(2)(iv)(h)(2), immediately prior to any distribution to a Member by the
Company of more than a de minimis amount of money or other property, or the Company’s assumption of more than a de minimis amount of a Member’s individual liabilities, in exchange for an interest in the Company (including the liquidation
of the Company within the meaning of Treasury Regulation Section 1.704-1(b)(2)(ii)(g)), the Manager may cause the Carrying Value of all Company property and liabilities to be adjusted in accordance with
subparagraph (b) of the definition of “Carrying Value” in Section 1 and the Capital Accounts of all Members to be adjusted upward or downward to reflect any Unrealized Gain or Unrealized Loss attributable to Company property and
liabilities, as if (i) the Unrealized Gain or Unrealized Loss with respect to such property and liabilities immediately prior to the distribution or assumption had been recognized on the sale of each such property and the satisfaction of each
such liability at that time and (ii) the resulting items of Unrealized Gain or Unrealized Loss had been allocated among the Members pursuant to Section 14 as if such items were the only items of income, gain, loss, or deduction of the
Company for an Allocation Period ending on the date of the distribution or assumption. 

(d)      In accordance with the provisions of Treasury Regulation Section 1.704-l(b)(2)(iv)(e), immediately prior to any distribution to a Member of any Company property as part of a pro rata distribution to the Members, the Manager may cause the Carrying Value of the
distributed Company property to be adjusted in accordance with subparagraph (c) of the definition of “Carrying Value” in Section 1 and the Capital Accounts of all Members to be adjusted upward or downward to reflect any
Unrealized Gain or Unrealized Loss attributable to the distributed Company property, as if (i) the Unrealized Gain or Unrealized Loss with respect to such property immediately prior to the distribution had been recognized on the sale of such
property at that time and (ii) such Unrealized Gain or Unrealized Loss had been allocated among the Members pursuant to Section 14 as if such items were the only items of income, gain, loss, or deduction of the Company for an Allocation
Period ending on the date of the distribution. 
 (e)      For purposes of computing the
amount of any items of income, gain, loss or deduction to be reflected in the Members’ Capital Accounts, rules analogous to those set forth in subparagraphs (a) through (e) of the definition of “Net Income” and “Net
Loss” shall be applied. 
 16.      Distributions. 

(a)      Non-Liquidating Distributions. Subject
to the Manager’s powers set forth in Section 10 hereof to determine the amount and timing of any distribution, any non-liquidating distributions shall be made to the Members in the following order of
priority: 
 (i)      First, Members holding Series A Preferred Interests
shall be entitled to receive, when, as and if declared by the Manager, only out of funds legally available for the making of such distributions, cumulative cash distributions in an amount equal to the Series A Preferred Return with respect to each
Series A Preferred Interest, 

  
 24 

 
and no more, payable quarterly on the 1st day of February, May, August and November in each year (each, a “Distribution Payment Date”), beginning on November 1, 2013.
Notwithstanding any provision hereof, any distribution otherwise payable on a Distribution Payment Date that is not a Business Day may be paid on the next succeeding Business Day with the same force and effect as if paid on such Distribution Payment
Date and, if so paid, shall be deemed for all purposes to have been paid on such Distribution Payment Date. Any amount so payable on a Distribution Payment Date shall be payable in arrears with respect to the calendar quarter (or portion thereof)
ending on the last day of such calendar quarter preceding such Distribution Payment Date (each such period, a “Distribution Period”), to the Members holding the Series A Preferred Interests on such Distribution Payment Date. Distributions
on Series A Preferred Interests shall accrue and be cumulative from September 9, 2013. Any distribution or portion thereof payable on the Series A Preferred Interests in respect of any partial Distribution Period shall be computed on the basis
of a 360-day year consisting of twelve 30-day months. Any distribution that accrues in respect of a Distribution Period but is not declared and paid on the relevant
Distribution Payment Date as aforesaid shall cumulate and shall not be payable until such time, if any, as it is declared by the Manager out of legally available funds as aforesaid. No interest or distributions, or sum of money in lieu thereof,
shall accrue or be payable in respect of any distribution payments on Series A Preferred Interests that may be in arrears. Holders of Series A Preferred Interests shall not be entitled to any distributions, whether payable in cash, securities or
other property, other than distributions (if any) declared and payable on Series A Preferred Interests as specified in this Section 16(a)(1) (subject to the other provisions of the LLC Agreement) unless declared by the Manager. No distribution
amount that accrues in respect of any Distribution Period shall be “in arrears” at any time on or prior to the corresponding Distribution Payment Date (or, if such day is not a Business Day, the next succeeding Business Day). Any
distribution amount in arrears may be paid on any Business Day, whether or not a Distribution Payment Date, at any time at the election of the Manager, whereupon such amount shall no longer be “in arrears.” 

(ii)      Second, to the Members holding Common Interests in accordance with
their relative Common Percentage Interests. 
 (b)      Liquidating Distributions.
Upon dissolution of the Company pursuant to Section 11, or any other voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, the proceeds of such dissolution shall be used: 

(i)      First, to satisfy the debts and liabilities of the Company; 

(ii)      Second, to pay each Member holding Series A Preferred Interests an
amount equal to the greater of (A) the Series A Preferred Interests Member’s Capital Account balance or (B) the aggregate Liquidation Preference for the Series A Preferred Interests held by such Member; 

(iii)      Third, any remaining proceeds shall be distributed to the Members in
accordance with the positive balances in their Capital Account. 

  
 25 

 (c)      Priority of Distributions.

 (i)      No distributions on the Series A Preferred Interests will be
declared or paid or set apart for payment if such authorization, payment or setting apart for payment is restricted or prohibited by law or contract. Notwithstanding the foregoing, distributions with respect to the Series A Preferred Interests will
accrue during (but only during) the relevant respective Distribution Period and, if not paid on the corresponding Distribution Payment Date, will thereupon cumulate, whether or not any of the foregoing restrictions exist, whether or not there are
funds legally available for the payment thereof and whether or not they are declared (but no amount shall accrue on any cumulated distribution in arrears). 

(ii)      Unless accrued distributions on the Series A Preferred Interests have
been, or contemporaneously are, declared and paid in full, or declared and a sum sufficient for the payment thereof in full is or has been set apart for such payment, for all past, completed Distribution Periods: (A) no distributions will be
declared or paid, and no sums set apart for payment, upon any Common Interests (other than distributions payable in Common Interests); and (B) the Company shall not be permitted to make any transfer of cash or other property to any Member or
affiliate of such Member, whether pursuant to a loan, equity distribution, sale, exchange or any other arrangement. 

(d)      Advance or Draw. Except as otherwise provided in any written agreement prepared
in connection with a distribution by the Company, any non-liquidating distribution of money or other property made during a taxable year by the Company to a Member with respect to Common Interests held by such
Member constitutes an advance or draw against the Member’s distributive share of Company taxable income for such year; provided, however, that any such distribution that is made by the Company to a Member during a taxable year shall constitute
a loan by the Company to such Member that must be repaid as soon as practicable to the extent that the amount of such distribution exceeds the Member’s adjusted tax basis in its LLC Interest after taking into account its distributive share of
the Company’s taxable income for the current year. For purposes of the foregoing sentence, the amount of any distribution equals the sum of the amount of any distributed money and the fair market value of any distributed property. 

17.      Admission of Additional Members. Subject to Section 7(a), additional
members of the Company may be admitted to the Company with the consent of the Manager. 

18.      Issuance of Additional LLC Interests. Subject to Section 7(a) and
Section 8, Manager is hereby authorized to cause the Company from time to time to issue to Members or other persons additional LLC Interests in accordance with the terms hereof. 

19.      Personal Property. The LLC Interests shall for all purposes be personal
property. No Member shall have any interest in specific property of the Company. 

20.      Tax Matters Representative. 

(a)      Mobility shall be designated and shall serve as the “tax matters partner”
within the meaning of Section 6231(a)(7) of the Code (to the extent applicable for taxable years beginning before January 1, 2018) and as the “partnership representative” of the Company for

  
 26 

 
any tax period subject to the provisions of Section 6223 of the Code, as amended by the Revised Partnership Audit Procedures (in each such capacity, the “Tax Matters
Representative” or “TMR”). Each Member hereby consents to such designation and agrees that, upon the request of the Manager, it will execute, certify, acknowledge, deliver, swear to, file and record at the appropriate
public offices such documents as may reasonably be necessary or appropriate to evidence such consent. Without the consent of all the Members, the Tax Matters Representative may not elect to apply the Revised Partnership Audit Procedures to any
taxable year beginning before January 1, 2018. 
 (b)      In its capacity as Tax
Matters Representative, Mobility shall represent the Company in any disputes, controversies or proceedings with the Internal Revenue Service or with any state, local, or non-U.S. taxing authority and is hereby
authorized to take any and all actions that it is permitted to take by applicable law when acting in that capacity. The Members acknowledge and agree that it is the intention of the Members to minimize any obligations of the Company to pay taxes and
interest in connection with any audit of the Company, including, if the Tax Matters Representative so determines, by means of elections under Section 6226 of the Code and/or the Members filing amended returns under Section 6225(c)(2) of
the Code, in each case as amended by the Revised Partnership Audit Procedures. The Members agree to cooperate in good faith, including without limitation by timely providing information reasonably requested by the Tax Matters Representative and
making elections and filing amended returns reasonably requested by the Tax Matters Representative, and by paying any applicable taxes, interest and penalties, to give effect to the preceding sentence. The Company shall make any payments it may be
required to make under the Revised Partnership Audit Procedures and, in the Tax Matters Representative’s reasonable discretion, allocate any such payment among the current or former Members of the Company for the “reviewed year” to
which the payment relates in a manner that reflects the current or former Members’ respective interests in the Company for that year and any other factors taken into account in determining the amount of the payment. To the extent payments are
made by the Company that are allocable to a current Member in accordance with this Section 20(b), such amounts shall, at the election of the Tax Matters Representative, (i) be applied to and reduce the next distribution(s) otherwise
payable to such Member under this Agreement or (ii) be paid by the Member to the Company within thirty (30) days of written notice from the Tax Matters Representative requesting the payment. In addition, if any such payment is allocable to
a former Member, that Member shall pay over to the Company an amount equal to the amount of such payment within thirty (30) days of written notice from the Tax Matters Representative requesting the payment. The provisions contained in this
Section 20(b) shall survive the dissolution of the Company and the withdrawal of any Member or the Transfer of any Member’s interest in the Company and shall apply to any current or former Member. 

(c)      The Company shall indemnify and reimburse the Tax Matters Representative for
(i) all expenses, including legal and accounting fees, claims, liabilities, losses and damages incurred in connection with any administrative or judicial proceeding with respect to the tax liability of the Members or in connection with any
audit of the Company’s income tax returns, except to the extent such expenses, claims, liabilities, losses and damages are attributable to the gross negligence or willful misconduct of the Tax Matters Representative and (ii) any taxes
imposed on the Company or the Manager in respect of the Company’s operations or activities (other than income taxes payable in respect of profits properly allocated to Manager). 

  
 27 

 
The payment of all such expenses to which the indemnification applies shall be made before any distributions pursuant to Section 16(a)(ii). Neither the Manager, nor any of its affiliates,
nor any other person shall have any obligation to provide funds for such purpose. The taking of any action and the incurring of any expense by the Tax Matters Representative in connection with any such proceeding, except to the extent required by
law, is a matter in the reasonable discretion of the Tax Matters Representative and the provisions on limitations of liability of the Manager and indemnification set forth in Section 24 of this Agreement shall be fully applicable to the Tax
Matters Representative in its capacity as such. 
 21.      Limited Liability. Except
as otherwise provided by the Act, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Members and the Manager, if any,
shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a member or manager of the Company. 

22.      Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED UNDER, THE
LAWS OF THE STATE OF DELAWARE, ALL RIGHTS AND REMEDIES BEING GOVERNED BY SAID LAWS, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAW. 

23.      Amendments. This Agreement may not be modified, altered, supplemented or amended
except pursuant to a written agreement executed and delivered either by the Members holding Common Interests representing, in the aggregate, a majority in Common Percentage Interest or by the Manager; provided that any such amendment
that adversely affects the Special Rights associated with any Series A Preferred Interests held by a Member or Members shall also be executed and delivered by the Member or Members holding a majority (in number) of the Series A Preferred Interests
whose Special Rights are so affected. 
 24.      Indemnification. 

(a)      The Manager shall not be liable, responsible or accountable in damages or otherwise to
the Company, to any third party or to any Member for (i) any act performed or omission within the scope of the authority conferred on the Manager by this Agreement or otherwise except for the gross negligence, fraud or willful misconduct
(including any willful violation of the terms of the Manager Certificate or this Agreement) of the Manager, (ii) the Manager’s performance of, or failure to perform, any act on the reasonable reliance on advice of legal counsel to the
Company, or (iii) the negligence, dishonesty or bad faith of any agent, consultant or broker of the Company selected, engaged or retained in good faith and with reasonable prudence. In any threatened, pending or completed action, suit or
proceeding, the Manager shall, to the fullest extent permitted by law, be fully protected and indemnified and held harmless by the Company against all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, proceedings,
costs, expenses and disbursements of any kind or nature whatsoever (including, without limitation, reasonable attorneys’ fees, costs of investigation, fines, judgments and amounts paid in settlement, actually incurred by the Manager in
connection with such action, suit or proceeding) by virtue of its status as an indemnified party or with respect to any action or omission taken or suffered in good faith, other than liabilities and losses resulting from the gross negligence, fraud,
breach of fiduciary duty or willful misconduct 

  
 28 

 
(including any willful violation of the terms of the Certificate of Incorporation (or other governing instrument) of Manager or this Agreement) of the Manager. Expenses, including reasonable
attorneys’ fees, incurred by Manager in defending any such action, suit or proceeding shall be paid or reimbursed by the Company promptly upon demand and, if any such demand is made in advance of the final disposition of any such action, suit
or proceeding, promptly upon receipt by the Company of an undertaking of Manager to repay such expenses if it shall ultimately be determined that Manager is not entitled to be indemnified by the Company. The indemnification provided by this
Section 24 shall be recoverable only out of the assets of the Company, and no Member shall have any personal liability on account thereof. For purposes of this subsection (a), the term “Company” shall include any predecessor of the
Company and any constituent entity (including any constituent of a constituent) absorbed by the Company in a consolidation or merger. 

(b)      (i)      The Company shall indemnify to
the full extent permitted by law (A) any person made or threatened to be made a party to any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that such person or such person’s
testator or intestate is or was an officer of the Company or was a director, officer, member, stockholder, partner, incorporator or liquidator of a subsidiary of the Company or serves or served at the request of the Company any other enterprise as a
director, officer, employee, member, stockholder, partner, incorporator or liquidator or in any other capacity, (B) the Manager to the extent of its indemnification payments under its bylaws, and (C) NCWS with respect to any payment made
by it with respect to the Public Indebtedness. Expenses, including reasonable attorneys’ fees, incurred by any such person in defending any such action, suit or proceeding shall be paid or reimbursed by the Company promptly upon demand by such
person and, if any such demand is made in advance of the final disposition of any such action, suit or proceeding, promptly upon receipt by the Company of an undertaking of such person to repay such expenses if it shall ultimately be determined that
such person is not entitled to be indemnified by the Company. The rights provided to any person by this provision shall be enforceable against the Company by such person, who shall be presumed to have relied upon it in serving or continuing to serve
as an officer or in such other capacity as provided above. In addition, the rights provided to any person by this provision shall survive the termination of such person as any such officer of the Company or director, officer, member, stockholder,
partner, incorporator or liquidator of a subsidiary of the Company and, insofar as such person served at the request of the Company as a director, officer, member, stockholder, partner, incorporator or liquidator of or in any other capacity for any
other enterprise, shall survive the termination of such request as to service prior to termination of such request. 

(ii)      Notwithstanding anything contained in this subsection (b), except for
proceedings to enforce rights provided in this subsection (b), the Company shall not be obligated under this subsection (b) to provide any indemnification or any payment or reimbursement of expenses to any officer or other person in connection
with a proceeding (or part thereof) initiated by such person (which shall not include counterclaims or crossclaims initiated by others, or any claim to enforce rights to indemnification under this subsection (b) if it has been ultimately
determined that the person making such indemnification claim is entitled to the claimed indemnification) unless the board of 

  
 29 

 
directors of the Manager has authorized or consented to such proceeding (or part thereof) in a resolution adopted by it. 

(iii)      For purposes of this subsection (b), the term “Company”
shall include any predecessor of the Company and any constituent entity (including any constituent of a constituent) absorbed by the Company in a consolidation or merger; the term “other enterprise” shall include any corporation,
partnership, limited liability company, joint venture, trust, association or other unincorporated organization or other entity and any employee benefit plan; the term “officer”, when used with respect to the Company, shall refer to any
officer of the Company or the Manager elected by or appointed pursuant to authority granted by the board of directors (or similar body) of the Manager pursuant to the bylaws (or other governing instrument) of the Manager, when used with respect to a
subsidiary or other enterprise that is a corporation, shall refer to any person elected or appointed pursuant to the bylaws of such subsidiary or other enterprise or chosen in such manner as is prescribed by the bylaws of such subsidiary or other
enterprise or determined by the board of directors of such subsidiary or other enterprise, and when used with respect to a subsidiary or other enterprise that is not a corporation or is organized in a foreign jurisdiction, the term
“officer” shall include in addition to any officer of such entity, any person serving in a similar capacity or as the manager of such entity; service “at the request of the Company” shall include service as an officer or employee
of the Company which imposes duties on, or involves services by, such officer or employee with respect to an employee benefit plan, its participants or beneficiaries; any excise taxes assessed on a person with respect to an employee benefit plan
shall be deemed to be indemnifiable expenses; and action by a person with respect to an employee benefit plan which such person reasonably believes to be in the interest of the participants and beneficiaries of such plan shall be deemed to be action
not opposed to the best interests of the Company. 
 (iv)      Nothing in
this subsection (b) shall limit the power of the Company or the Manager to provide rights of indemnification and to make payment and reimbursement of expenses, including attorneys’ fees, to officers, employees, agent or other persons
otherwise than pursuant to this subsection (b). 
 (v)      Payments made by
the Company directly to attorneys representing persons entitled to indemnification under subsection (a) or (b) of this Section 24 (each an “Indemnified Party”), and payments made by the Company directly to claimants or other
persons to discharge obligations of such persons that would be indemnifiable under subsection (a) or (b) of this Section 24 if paid by such persons, shall also be deemed to be indemnification payments. 

(c)      To the extent that, at law or in equity, an Indemnified Party has duties (including
fiduciary duties) and liabilities relating thereto to the Company, to any Member or to any other Indemnified Party, an Indemnified Party acting under this Agreement shall not be liable to the Company or to any Member or to any other Indemnified
Party for its good faith reliance on the provisions of this Agreement. The provisions of this Agreement, to the extent that they restrict the duties and liabilities of an Indemnified Party otherwise existing at law or in

  
 30 

 
equity, are agreed by the parties hereto to replace such other duties and liabilities of such Indemnified Party. 

(d)      No amendment of this Section 24 shall impair the rights of any person arising at
any time with respect to events occurring prior to such amendment. 

25.      Severability. The provisions of this Agreement shall be deemed severable and the
invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or the application thereof to any Person or any circumstance, is invalid or
unenforceable, (a) a suitable and equitable provision shall be substituted therefore in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (b) the remainder of
this Agreement and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of such
provision, or the application thereof, in any other jurisdiction. 

26.      Counterparts. For the convenience of the Members, this Agreement may be executed
in any number of counterparts, each of which shall be deemed to be an original and all of which shall together constitute the same agreement. 

27.      Headings; Recitals. All section headings and the recitals herein are for
convenience of reference only and are not part of this Agreement, and no construction or reference shall be derived therefrom. 

28.      Entire Agreement; Waiver. This Agreement (including any exhibits and schedules
hereto) supersedes all prior agreements, written or oral, among the parties hereto with respect to the subject matter hereof and thereof and contains the entire agreement among the parties with respect to the subject matter hereof and thereof. No
waiver of any provisions hereof by any party hereto shall be deemed a waiver of any other provisions hereof by any such party, nor shall any such waiver be deemed a continuing waiver of any provision hereof by such party. 

29.      Third Party Beneficiaries. NOTHING IN THIS AGREEMENT, EXPRESS OR
IMPLIED, IS INTENDED TO CONFER UPON ANY PERSON NOT A MEMBER ANY RIGHTS OR REMEDIES OF ANY NATURE WHATSOEVER UNDER OR BY REASON OF THIS AGREEMENT (EXCEPT TO THE EXTENT SPECIFICALLY PROVIDED IN SECTIONS 24 AND 30) AND THE MANAGER SHALL HAVE NO DUTY OR
OBLIGATION TO ANY CREDITOR OF THE COMPANY TO REQUEST THE MEMBERS TO MAKE ADDITIONAL CONTRIBUTIONS TO THE CAPITAL OF THE COMPANY. 

30.      Exculpation. Notwithstanding any other terms of this Agreement, whether express
or implied, or obligation or duty at law or in equity, no Indemnified Party shall be liable to the Company or any member or manager for any act or omission (in relation to the Company, this Agreement, any related document or any transaction
contemplated hereby or thereby) taken or omitted by an Indemnified Person in the belief that such act or omission is in or is not contrary to the best interests of the Company and is within the scope of authority granted to such

  
 31 

 
Indemnified Party by this Agreement, provided that such act or omission does not constitute willful misfeasance, gross negligence or bad faith of such Indemnified Party. 

[The remainder of this page intentionally left blank. Signatures on following page.] 

  
 32 

 IN WITNESS WHEREOF, the undersigned, intending to be legally bound hereby,
have duly executed this Agreement (which may be in counterparts) as of the date first above written. 
  

									
	AS MEMBERS:	 		 	  AS MANAGER:
			
	New Cingular Wireless Services, Inc.	 		 	  AT&T Mobility Corporation

									
					
	By:	 	                                 
                       	 		 	By:	 	                                 
               

									
	 Name: George B. Goeke
 Title:
Treasurer
	 		 	   Name: George B. Goeke

  Title: Treasurer

  

					
	AT&T Mobility LLC
		
	By:    	 	   AT&T Mobility Corporation,

  its sole Manager

					
			
	          	 	By:	 	                                      
      

					
	          	 	  Name: George B. Goeke

 Title: Treasurer

	          

  

			
	AT&T Corp.

			
		
	By:	 	                                      
                  

			
	 Name: Julianne K. Galloway

Title: Chief Financial Officer and Treasurer

  

			
	BellSouth Mobile Data, Inc.

			
		
	By:	 	                                      
                  

			
	 Name: George B. Goeke
 Title:
Treasurer

  

			
	JP Morgan Chase Bank, N.A., as trustee of the SBC Master Pension Trust

			
		
	By:	 	 

			
	Name:	 	 

			
	Title:	 	 

 Signature Page to 

Fourth Amended and Restated Limited Liability Company Agreement of AT&T Mobility II LLC 

 SCHEDULE A 

MEMBERS 
 Common Interest Members

  

															
	        Member	 	     
	  	Common Interests        	 	     
	  	 Common Percentage Interest        

					
	 NCWS
	 		  	 	 	127,005,486	 	 		  	 	 	18.2870222%	 
					
	   Mobility
	 		  	 	 	517,961,360	 	 		  	 	 	74.5792265%	 
					
	 BSMD
	 		  	 	 	36,823,564	 	 		  	 	 	5.3020806%	 
	
                 
      AT&T Corp.              
  
	 		  	 	 	12,721,165	 	 		  	 	 	1.8316707%	 
		 		  	 	 	680,786,698	 	 		  	 	 	100.0000000%	 

 Series A Preferred Interest Member 
  

									
			
	
                   
       Member
	 	 Series A Preferred Interests
	  	
			
	                          SBC Master Pension Trust	 	 320,000,000
	  	

 Schedule A to 

Fourth Amended and Restated Limited Liability Company Agreement of AT&T Mobility II LLC

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