Document:

Exhibit 10.6

 Exhibit 10.6 
 MEMORANDUM OF AGREEMENT 
 ON SETTLEMENT 
 THIS MEMORANDUM OF AGREEMENT ON SETTLEMENT (this “MOA”) is entered into as of
this 25th day of February, 2005 by and between WorldSpace, Inc., a company organized under the laws of the State of
Delaware, USA, with its principal place of business at 2400 N Street, NW, Washington, DC 20037, USA, WorldSpace Satellite Company Ltd., a company organized under the laws of the British Virgin Islands, with its principal place of business at
Craigmuir Chambers, P.O. Box 71, Road Town, Tortola, the British Virgin Islands, here WSI and WSC shall act jointly and severally as one Party [fax number+12029696560] and Alcatel Space (“Alcatel”), a company organized under the laws of
the Republic of France, having its registered office at 12, rue de la Baume 75008 Paris—FRANCE [fax number +33155661021]. 
 WorldSpace,
Inc. and WorldSpace Satellite Company Ltd. are collectively referred to herein as “WorldSpace.” 
 WorldSpace and Alcatel are
collectively referred to herein as the “Parties” and individually as a “Party.” 
 PREAMBLE 
 WorldSpace and Alcatel entered into and executed (i) the Amended and Restated IOD Contract dated October 8, 1995 and several amendments thereto
(the “IOD Contract”); (ii) the WorldStar DAVB End-to-End System Contract dated November 9, 1995 and several amendments thereto (the “End-to-End Contract”) and (iii) the WorldStar On-Station Operations Services
Contract dated June 26, 1996 and several amendments thereto (the “OSOS Contract”). 
 The IOD Contract, End-to-End Contract
and OSOS Contract are collectively referred to herein as “the Contracts”. 
 WorldSpace owes certain amounts to Alcatel with
respect to the Contracts (the “Outstanding Payable”), and the Parties desire to settle the Outstanding Payable and to terminate the Contracts. 
 ASTRIUM is a French space company presently responsible for storing F3 satellite and F4 platform equipment pursuant to a subcontract entered into between Alcatel and Astrium. 
 WorldSpace is planning an Initial Public Offering (“IPO”) of its common stock, as described in Exhibit 1 attached hereto. 
 The Parties are entering into this MOA intending to be bound hereby, it being understood, however, that certain provisions hereof shall not become
effective and binding on the Parties until the Effective Date (as defined in Article 6). 
 NOW, THEREFORE, in consideration of the
above and of the mutual covenants and obligations hereinafter set forth, the Parties hereby agree as follows: 
 Article 1—MOA Documents

 This MOA consists of this writing dated the day and year first written above. In addition, the following shall constitute exhibits to
this MOA, pursuant to the procedure below: 
  

	 	•	 	 Exhibit 1: Description of Initial Public Offering terms and conditions 

  

	 	•	 	 Exhibit 2: F3 and F4 certificates of final acceptance 

  

	 	•	 	 Exhibit 3: F3 and F4 storage and maintenance contracts 

  

	 	•	 	 Exhibit 4: F3 Certificate of Title 

  

	 	•	 	 Exhibit 5: F4 Certificate of Title 

 Article 2—Debt Settlement 
 For the purpose of the debt settlement provisions of this MOA, the Parties have agreed to reduce the amounts outstanding owed in all respects by WorldSpace to Alcatel through 31 March 2005, from US$ twenty-six
(26) million to US$ nineteen (19) million (the “Settlement Amount”). WorldSpace shall pay such Settlement Amount to Alcatel in accordance with Article 3 hereafter. 
 WorldSpace further agrees that, in the event Arianespace requests payment from Alcatel with respect to a claim for price adjustments pursuant to the
Launch Services Agreement between Alcatel and Arianespace (the “Arianespace Claim”), the Parties shall jointly enter into negotiations with Arianespace and use commercially reasonable efforts to eliminate or reduce the amount claimed. The
Parties further agree that WorldSpace will be liable for payment of such portion of the Arianespace Claim equal to the lesser of the total amount thereof as finally determined and US$ two (2.0) million, if and when it becomes due, and
acknowledge that such payment would be in addition to the Settlement Amount. Notwithstanding the above, Alcatel has indicated to WorldSpace that, to its knowledge and belief, Alcatel has had no communication from Arianespace in the last two years
suggesting that Arianespace has an intention to pursue such claim. 
 Article 3—Payment Agreement 
 The Parties agree to the following payment arrangements in full settlement of the Settlement Amount: 
  

	 	3.1	WorldSpace has paid Alcatel in 2005 the amount of US$ one (1.0) million (credited by Alcatel on January 6, 2005). 

  

	 	3.2	WorldSpace shall pay, by wire transfer, an additional cash amount of US$ nine (9.0) million on the Effective Date. 

  

	 	3.3	WorldSpace shall pay, by wire transfer, an additional cash amount of US$ two (2.0) million on the earlier to occur of: (i) the date that is 15 days after the closing of
the IPO, and (ii) August 31, 2005. Should such payment not be made as specified in the foregoing sentence, Alcatel shall then be entitled to call, without any prior notice, the irrevocable standby letter of credit (the “L/C”) in
accordance with the provisions set forth in Article 3.6. 

  

	 	3.4	Except as provided below in this Article 3.4, the balance of US$7.0 million shall be paid by WorldSpace by the issuance of shares of its common stock to Alcatel at the closing of
the IPO, with the number of shares to be determined by dividing US$ seven (7.0) million by the IPO price. Delivery of the shares to Alcatel shall take place at the closing of the IPO. At the closing of the IPO, WorldSpace shall enter into a
customary registration rights agreement with Alcatel which agreement shall be in form and substance satisfactory to Alcatel, in order to provide Alcatel with “piggyback registration rights” with respect to such shares at the expense of
WorldSpace (other than underwriters’ discounts and commissions, which shall be borne by Alcatel). WorldSpace represents and warrants that it is not, nor shall it become, a party to any other registration rights agreement the terms of which
would preclude WorldSpace from providing “piggyback registration rights” hereunder to Alcatel. Alcatel acknowledges that the shares to be received by it hereunder will not have been registered under the U.S. Securities Act of 1933 and may
not be reoffered or sold unless such shares have been so registered or are reoffered and sold in a transaction exempt from such registration. WorldSpace shall take whatever action is necessary or required to ensure that the shares received by
Alcatel are listed in the same manner as the shares sold in the IPO. WorldSpace represents and warrants that the shares will be duly authorized and when issued to Alcatel hereunder will be validly issued, fully paid and non-assessable, will be
issued in compliance with all applicable federal and state securities laws and will be free and clear of all other liens. 

 Should there not be a closing of an IPO by December 31, 2005, the amount of US$ seven (7.0) million in cash shall become due and payable on January 31, 2006, from WorldSpace to Alcatel. 
  

 2 

	 	3.5	All cash payments to be made by WorldSpace to Alcatel shall be made by WorldSpace to the following bank account: 

 ABN AMRO BANK 
 NEW YORK branch 
 500 Park Avenue 
 NY 10022 USA 
 SWIFT Code: ABN AUS 33 
 Account number: 456060386441 
 Any payments payable by WorldSpace shall be deemed to have been made when Alcatel’s bank account has been credited of the same.

  

	 	3.6	In order to secure the payment due under Article 3.3, WorldSpace shall cause the issuance of a letter of credit (the “L/C”) on the Effective Date. The terms and conditions
of the L/C shall be satisfactory to Alcatel in all respects in accordance with the following provisions: 

  

	 	i)	Standby letter of credit: irrevocable and unconditional 

  

	 	ii)	L/C coming into force: no later than the Effective Date 

  

	 	iii)	Applicant: WorldSpace 

  

	 	iv)	Beneficiary: Alcatel 

  

	 	v)	Issuing Bank: first class bank acceptable to Alcatel 

  

	 	vi)	L/C Amount: US$ two (2) million 

  

	 	vii)	Call: If WorldSpace does not honour the payment set forth in Article 3.3 at the date set forth in such Article 

  

	 	viii)	Payment: at sight against presentation of written statement by Alcatel that WorldSpace has defaulted in making the payment set forth in Article 3.3 and a copy of this MOA certified
by a representative of Alcatel 

  

	 	ix)	Subject to The Uniform Customs and Practice for Documentary Credits (1993 Revision) ICC Publication No. 500 

  

	 	x)	Governing law: State of New York, USA 

  

	 	xi)	Maturity: September 30, 2005 

 Article 4—Title and Risk;
Contracts Termination 
  

	 	4.1	Title and acceptance—F3 

 Transfer of
title to the satellite built by Alcatel under contract to WorldSpace and known as F3 (hereinafter “F3”) shall pass to WorldSpace upon the last to occur of satisfaction of the following cumulative conditions: 
  

	 	i)	Payment of the amount set forth in Article 3.2 by the date specified therein; and 

  

	 	ii)	Delivery to Alcatel of an L/C issued complying with the provisions of Article 3.6 by the date specified therein; and 

  

	 	iii)	The effectiveness of a storage and maintenance contract for F3 with Alcatel or Astrium; the Alcatel contract is attached as Exhibit 3; and 

  

	 	iv)	Execution and delivery by WorldSpace of the F3 Final acceptance certificate in the form attached as Exhibit 2. 

  

 3 

 Once all these conditions are met, Alcatel shall execute and deliver to WorldSpace a
Certificate of Title in the form attached as Exhibit 4. 
 The amounts due from WorldSpace, and the relevant due dates, under
this MOA shall not be affected by whether and/or when WorldSpace finally accepts F3. 
  

	 	4.2	Title and acceptance—F4 

 Transfer of
title to certain satellite components held by Alcatel under contract to WorldSpace and known as the F4 equipment shall pass to WorldSpace upon satisfaction of the following cumulative conditions: 
  

	 	i)	WorldSpace has fully and timely performed its obligations set forth in Articles 3.1 to 3.4 and 3.6; and 

  

	 	ii)	The effectiveness of a contract between WorldSpace and Alcatel and/or Astrium for storage and maintenance of F4 equipment in their respective possession; the Alcatel contract is
attached as Exhibit 3; and 

  

	 	iii)	The filing of a complete application by Astrium and/or Alcatel (as applicable), on behalf of WorldSpace, for the issuance of active job processing (“perfectionnement actif
suspension”) with respect to F4 equipment to be stored by it and/or them; and 

  

	 	iv)	Execution and delivery by WorldSpace of the F4 Final acceptance certificate in the form attached as Exhibit 2. 

 Once all these conditions are met, Alcatel shall execute and deliver to WorldSpace a Certificate of Title in the form attached as Exhibit
5. 
 The amounts due from WorldSpace, and the relevant due dates, under this MOA shall not be affected by whether and/or
when WorldSpace finally accepts F4. 
 Unless otherwise agreed between the Parties, should WorldSpace not perform its payment
obligations as set forth in Article 3.4, then Alcatel, as the owner of F4, shall be entitled to dispose of such equipment subject to reasonable prior notice to WorldSpace. Should Alcatel sell F4 for an amount exceeding US$ seven (7) million,
then Alcatel shall refund WorldSpace with the difference between US$ seven (7) million and the sale price. 
  

	 	4.3	Reserved 

  

	 	4.4	Transfer of Risk 

 Transfer of risk to F3
shall pass to WorldSpace upon transfer of title and WorldSpace shall be responsible for entering into a storage and maintenance agreement either with Astrium or Alcatel and for subscribing an insurance policy that will cover damage to and risk of
loss of F3. 
 Transfer of risk to F4 shall pass to WorldSpace upon transfer of title and WorldSpace shall be responsible for
entering into storage and maintenance agreements with Alcatel and/or Astrium and for subscribing an insurance policy that will cover damage to and risk of loss of F4. 
  

	 	4.5	Termination of Contracts 

 Except as
otherwise provided in Article 6.3, on the Effective Date, the Contracts will be terminated and neither Party shall have any liability or obligation of any kind, (including without limitation any liability or obligation that is, under the terms of
the contracts, a surviving liability obligation) under law or otherwise, toward the other Party under the Contracts. 
  

 4 

 The two major subcontracts under the IOD Contract, namely the Launch Services Agreement
(between Alcatel and Arianespace), as amended and the Spacecraft Subcontract (between Alcatel and Astrium SAS), as amended will be terminated by Alcatel. 
  

	 	4.6	Limit of Liability 

 IN NO EVENT SHALL
EITHER PARTY, ITS AFFILIATES, SUBCONTRACTORS, OFFICERS, EMPLOYEES OR AGENTS, BE LIABLE, IN CONTRACT, IN TORT, OR OTHERWISE FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY NATURE ARISING WITH RESPECT TO THIS MOA AT ANY TIME FROM ANY CAUSE
WHATSOEVER, INCLUDING SPECIFICALLY BUT WITHOUT LIMITATION, LOSS OF PROFITS OR REVENUE, LOSS OF FULL OR PARTIAL USE OF ANY EQUIPMENT, LOSSES BY REASON OF OPERATION OF ANY DELIVERABLE ITEM AT LESS THAN CAPACITY, DELAYS, COST OF REPLACEMENTS, COST OF
CAPITAL, LOSS OF GOODWILL, CLAIMS OF CUSTOMERS, OR OTHER SUCH DAMAGES. 
 Article 5—Taxes 
 The Settlement Amount is exclusive of any custom duties, VAT, import taxes, sales taxes or charges, levied in the country of delivery. These taxes, if
applicable, will be paid by Worldspace in compliance with regulations in force at that time. Such taxes shall be in addition to the other payments due to Alcatel hereunder. 
 Alcatel and Astrium issued an active job processing (“perfectionnement actif suspension”) in order to receive satellite components and
equipment in suspension of any taxes and duties. 
 In order to maintain this suspension and to address VAT issues, Alcatel or Astrium will
issue, at the request of WorldSpace, within the framework of the activities to be performed under the storage and maintenance contract to be concluded with WorldSpace, in the name and for the account of WorldSpace, an active job processing
(“perfectionnement actif suspension”) for the delivery of F3 or F4 satellite, components and equipment. WorldSpace will reimburse Alcatel’s or Astrium’s documented and reasonable expenses incurred in connection with such active
job processing. 
 For the purpose of maintenance, the F3 and F4 will be delivered to the premises of Alcatel or Astrium pursuant to the
applicable storage and maintenance contract. 
 Article 6—Effective Date and Related Matters 
  

	 	6.1	As of the date hereof, only Articles 2 and 6 through 12 are binding on the Parties. 

  

	 	6.2	On or prior to the seventh business day from the date hereof, Alcatel may elect in its sole discretion, by written notice thereof to WorldSpace, to declare the effectiveness, as of
the later of the third business day following delivery of such notice or March 4, 2005 (the “Effective Date”), of the following provisions of this MOA: Articles 1, 3, 4 and 5. In the event Alcatel fails to give such notice to
WorldSpace on or prior to the seventh business date from the date hereof, this MOA shall be terminated and neither Party shall have any further obligation to the other hereunder except pursuant to Article 7. 

  

	 	6.3	Should the payment described in Article 3.2 not be made on the Effective Date, then (i) the Settlement Amount shall be equal to the US$26 million amount specified in Article 2,
plus accrued interest calculated in accordance with the Contracts, and the provisions of Articles 1, 3, 4 and 5 shall no longer be effective and binding on the Parties, (ii) Alcatel shall be entitled to invoice WorldSpace immediately for such
amount, shall be entitled to be paid under the terms of the Contracts, and (iii) shall be entitled to pursue all remedies permitted under the Contracts and under law, with WorldSpace being deemed to have waived any notice periods relating to
default, breach, or non payment under any of the Contracts. 

  

 5 

	 	6.4	In the event that all or any portion of the Settlement Amount paid by WorldSpace to Alcatel pursuant to this MOA (the “Invalidated Portion”) is subsequently invalidated,
set aside or required to be repaid or turned over to a trustee, receiver, debtor-in-possession, Unsecured Creditor’s Committee or any other person or entity for any reason whatsoever including, without limitation, under any insolvency,
bankruptcy, common law, equitable doctrine or any state or federal insolvency proceeding or case, including, without limitation, a case under Chapter 7 or 11 of Title 11 of the United States Code (an “Insolvency Event”), any and all claims
under the Contracts (“Contract Claims”), less any portion of the Settlement Amount paid by WorldSpace to Alcatel not repaid or turned over by Alcatel to any trustee, receiver, debtor-in-possession, Unsecured Creditors’ Committee or
any other party, shall be automatically reinstated, without any reduction and this MOA shall be deemed null, void, invalid and unenforceable. In the case of any Insolvency Event, Alcatel shall be entitled to file any and all Contract Claims, and
shall have all rights and remedies in connection with Contract Claims as if this MOA had not been entered into. 

 Notwithstanding any of the foregoing to the contrary, in the event the Invalidated Portion is US$ seven (7) million or less, the maximum amount which Alcatel may claim with respect to any Contract Claim shall be limited to the amount
of the Invalidated Portion plus any interest and expenses otherwise available under applicable law, provided however that the foregoing limitations shall not apply in the event that following the occurrence of an Insolvency Event WorldSpace or any
successor or assignee thereof, including without limitation any Unsecured Creditor’s Committee or Chapter 7 trustee, shall file a counterclaim or claim of set-off, recoupment or subordination against Alcatel with respect to any of the
Contracts. 
 Article 7—Confidentiality 
  

	 	7.1	Neither Party shall mention or disclose any information relating to this MOA without the prior written consent of the other, except (i) to its attorneys, accountants or
financial advisors, (ii) as may be required by applicable law or any rule, regulation or agreement applicable to the listing of the securities of either Party on a stock exchange or similar body or (iii) in connection with any judicial
arbitral or other proceeding instituted by any Party with respect to this MOA. In the event that it is required by applicable law that a copy of this MOA be filed with the United States Securities and Exchange Commission (“SEC”) or similar
regulatory body in any jurisdiction outside the United States, the Parties agree that they will request the SEC or such regulatory body grant confidential status to any portion or portions of this MOA that either Party requests be so treated.

  

	 	7.2	At least five (5) businesses days prior to (i) the filing of any registration statement or prospectus with the SEC or similar regulatory body in any jurisdiction outside
the United States for the offering of any of its securities to members of the public, or any amendment to such registration statement or (ii) the distribution of any private placement memorandum or similar document under which its securities
are offered for sale, WorldSpace shall provide Alcatel with a draft copy of the portion or portions of such registration statement, prospectus, private placement memorandum or similar document which refer to Alcatel, and will discuss in good faith
any of Alcatel’s comments thereto. Alcatel shall have no liability to WorldSpace with respect to any statement or alleged statement in or omission or alleged omission from such registration statement, prospectus, private placement memorandum or
similar document (unless such statement or alleged statement or omission or alleged omission was made in reliance upon and in conformity with information not otherwise known to WorldSpace and furnished in writing to WorldSpace by Alcatel
specifically for use therein). 

 Article 8—Applicable Law 
 This MOA and performance under it shall be governed by, and construed and enforced in accordance with, the laws in force in the State of New York, without
regard to conflict of laws provisions thereof, except Section 5-1401 of the General Obligations Law of the State of New York. 
  

 6 

 All disputes arising out of or in connection with this MOA shall be finally settled under the rules of
arbitration of the ICC (International Chamber of Commerce) by one or more arbitrators appointed in accordance with the said rules in Paris, France. Such arbitration shall be conducted in the English language. 
 Article 9—Notices 
 Any notice or communication
given by either Party hereto to the other shall be in writing and personally delivered, or mailed by registered or certified mail, return receipt requested, postage prepaid, or delivered by a recognized courier service (such as Federal Express or
DHL), or sent by facsimile transmission, to the address or facsimile number for each Party first set forth above. Any such notice shall be deemed given when actually delivered (which, in the case of a facsimile transmission, shall occur upon receipt
of the answerback) or upon refusal by a Party to accept delivery. Any Party may change its address for purposes of notice by delivering notice to the other Party in accordance with this Article. 
 Article 10—Representations and Warranties 
 WorldSpace hereby represents and warrants to Alcatel that: 
  

	 	i)	it is duly authorised to enter into this MOA; 

  

	 	ii)	this MOA does not conflict with its organizational documents or any other agreement or obligations whatsoever of WorldSpace; 

  

	 	iii)	the obligations undertaken by WorldSpace under this Agreement are valid, legally binding and enforceable; 

  

	 	iv)	there is no litigation, arbitration or other proceeding pending, or to its knowledge threatened, against it which may affect in a material manner its ability to fulfil any of its
obligations under this MOA; 

  

	 	v)	no meeting has been convened for its liquidation or winding-up, no such step is intended by it and, so far as it is aware, no petition, application or the like is outstanding for
its liquidation or winding-up; and 

  

	 	vi)	it (a) has not entered into the transaction contemplated by this MOA with the actual intent to hinder, delay, or defraud any creditor and (b) has received reasonably
equivalent value in exchange for its obligations under this MOA. After giving effect to the transactions contemplated by this MOA, the fair saleable value of its assets exceeds and will, immediately following the Effective Date, exceed its total
liabilities, including the maximum amount of its known contingent liabilities on its debts as such debts become absolute and matured. Its assets do not and, immediately following the Effective Date, will not, constitute unreasonably small capital to
carry out its business as conducted or as proposed to be conducted. It does not intend to, and does not believe that it will, incur debt and liabilities (including contingent liabilities and other commitments) beyond its ability to pay such debt and
liabilities as they mature (taking into account the timing and amounts of cash to be received by it and the amounts to be payable on or in respect of its obligations). 

 Alcatel hereby represents and warrants that: 
  

	 	vii)	it is duly authorised to enter into this MOA; 

  

	 	viii)	this MOA does not conflict with its organizational documents or any other agreement or obligations whatsoever of Alcatel; 

  

	 	ix)	the obligations undertaken by Alcatel under this MOA are valid, legally binding and enforceable; and 

  

 7 

	 	x)	there is no litigation, arbitration or other proceeding pending, or to its knowledge threatened, against it which may affect in a material manner its ability to fulfil any of its
obligations under this Agreement; and 

  

	 	xi)	no meeting has been convened for its liquidation or winding-up, no such step is intended by it and, so far as it is aware, no petition, application or the like is outstanding for
its liquidation or winding-up. 

 Article 11—Severability 
 In the event any one or more of the provisions of this MOA shall, for any reason, be held to be invalid or unenforceable, the remaining provisions of this
Agreement shall be unimpaired and the invalid or unenforceable provision shall be replaced by a mutually acceptable provision which, being valid and enforceable, comes closest to the intention of the Parties underlying the invalid or unenforceable
provision or otherwise shall be deemed to be deleted from the Agreement. 
 Article 12—Miscellaneous 
  

	 	12.1	Joint and Several Liability 

 WorldSpace,
Inc. and WorldSpace Satellite Company shall be jointly and severally liable for all obligations of WorldSpace hereunder. 
  

	 	12.2	Headings 

 Section headings contained in
this MOA are inserted for convenience of reference only, shall not be deemed to be a part of this MOA for any purpose and shall not in any way define or affect the meaning, construction or scope of any of the provisions hereof. 
  

	 	12.2	Further Assurances 

 Each Party shall
take, or shall cause to be taken, such further actions to execute, deliver and file, or cause to be executed, delivered and filed, such further documents and instruments, and to use best efforts to obtain such consents, as may be necessary or as may
be requested to effectuate fully the purposes and terms of this MOA, whether before, at or after the date first set forth hereinabove. 
  

	 	12.3	Amendment; Waiver 

 No amendment,
modification or discharge of this MOA, and no waiver hereunder, shall be valid or binding unless set forth in writing and duly executed by the Party against whom enforcement of the amendment, modification, discharge or waiver is sought. 

 

	 	12.4	Enforcement of Provisions 

 No delay or
failure at any time on the part of any Party in exercising any right, power or privilege under this MOA, or in enforcing any provisions of this MOA, shall (i) impair any such right, power or privilege, (ii) be construed as a waiver of such
provision, (iii) be construed as a waiver of any default or as an acquiescence therein or (iv) affect the right of such Party thereafter to enforce each and every provision of this MOA in accordance with its terms. 
  

	 	12.5	Entire Agreement 

 This MOA constitutes
the entire agreement among the Parties with respect to the subject matter hereof, and supersedes all prior oral or written agreements, commitments or understandings with respect to such 

  

 8 

 
matters. This MOA (together with the Exhibits hereto) shall be binding upon and shall inure to the benefit of the Parties and their respective heirs,
devisees, executors, administrators, legal representatives, successors and assigns. This MOA shall not inure to the benefit of any third party. 
  

	 	12.6	Non assignment 

 This MOA shall not be
assignable by any or either Party without the prior written consent of the other Party or Parties. 
  

	 	12.7	Expenses 

 Each Party shall pay its own
expenses incident to the negotiations and preparation of this MOA and with respect to the transactions contemplated hereby, including all legal and accounting fees and disbursements. 
  

	 	12.8	Counterparts; Facsimile Execution 

 This
MOA may be executed in one or more counterparts, and by the different Parties in separate counterparts, each of which when so executed and delivered shall constitute a single, binding instrument. To facilitate execution, this MOA may be executed
through the use of facsimile transmission, and a counterpart of this MOA that contains the facsimile signature of a Party shall constitute an executed counterpart of this MOA. 
 IN WITNESS WHEREOF, this MOA has been executed by a duly authorized representative of each Party as of the date first above written. 
  

															
		 	WorldSpace, Inc.	 		 		 	WorldSpace Satellite Company Ltd.	 		 		 	Alcatel Space
								
	 By:
	 	 /S/    NOAH A. SAMARA
	 		 	 By:
	 	 /S/    NOAH A. SAMARA
	 		 	 By:
	 	 /S/    LAURENT
[MOURRE]

	 Name: 
	 	 Noah A. Samara
	 		 	 Name: 
	 	 Noah A. Samara
	 		 	 Name: 
	 	 Laurent [Mourre]

	 Title:
	 	 Chairman & CEO
	 		 	 Title:
	 	 President
	 		 	 Title:
	 	 VP Business Development

	 Date:
	 	 February 25, 2005
	 		 	 Date:
	 	 February 25, 2005
	 		 	 Date:
	 	 February 25, 2005

  

 9Exhibit 10.12(d)

 Exhibit 10.12(d) 
 WORLDSPACE, INC. 
 2005 INCENTIVE AWARD PLAN 
 STOCK APPRECIATION RIGHTS AGREEMENT 
 AGREEMENT made as of this
[            ] day of [            ], 2007 (the “Date of Grant”) between WorldSpace, Inc.,
a Delaware corporation (hereinafter referred to as the “Corporation”), and [            ], residing at
[            ] (hereinafter referred to as the “Participant”). 
 W I T N E S S E T H: 
 WHEREAS, the Corporation desires,
pursuant to the WorldSpace 2005 Incentive Award Plan (the “Plan”), to provide the Participant with an opportunity to acquire Class A common shares, $0.01 par value, of the Corporation (hereinafter referred to as “Shares”) on
the terms and conditions set forth herein; 
 NOW, THEREFORE, in consideration of the premises, the mutual covenants herein set forth and
other good and valuable consideration, the Corporation and the Participant hereby agree as follows: 
 I .    Notice of Grant

 1.    Terms of Grant. You have been granted a Free-Standing Stock Appreciation Right (“SAR”) to be
settled upon exercise by the issuance of Shares of the Corporation, subject to the terms and conditions of the Plan and this Agreement, as follows: 
  

			
	Date of Grant	  	
		
	Vesting Date	  	The Award shall vest as set forth in Section 2 of Part I below.
		
	Base Price per Share	  	 $

		
	 Total Number of Shares Subject to SAR Grant
	  	
		
	 Expiration Date
	  	

 2.    Vesting Schedule. Subject to Participant’s continuing status
as an Employee or Consultant to the Corporation or any Subsidiary or Affiliate and other limitations set forth in the Plan and this Agreement, the SAR shall become exercisable cumulatively as to the following amounts of the number of Shares
originally subject thereto (after giving effect to any adjustment pursuant to the Plan), on the dates indicated: 
 (a) as to
thirty-three and one-third percent (33-1/3%) Shares on or after the first anniversary of the Date of Grant; 
 (b)    as to thirty-three and one-third percent (33-1/3%) Shares on or after the second anniversary of the Date of Grant; and 
 (c) as to thirty-three and one-third percent (33-1/3%) Shares on or after the third anniversary of the Date of Grant. 

 II.    SAR Agreement 
 1.    Definitions. For purposes of this Agreement, unless otherwise defined herein, all capitalized terms shall have the same
definitions as set forth under the Plan. 
 2.    Confirmation of Grant of SAR. Pursuant to a determination by the
Committee of the Board of Directors of the Corporation authorized to administer the Plan, the Corporation, subject to the terms of the Plan and this Agreement, hereby grants to the Participant, named above, in addition to and not in lieu of salary
or other compensation for services, the right to acquire an aggregate number of Shares, as set forth in the Notice of Grant attached as Part I of this Agreement, subject to adjustment as provided in the Plan. The base price of each SAR shall be
as set forth in Article I, equal to 100% of the Fair Market Value per Share on the Date of Grant (the “Base Price”). 
 3.    Exercisability of SAR. 
 (a)    The SAR shall be exercisable during its term in
accordance with the Vesting Schedule set forth in the Notice of Grant and the applicable provisions of the Plan and this Agreement. 
 (b)    Notwithstanding the above, this SAR shall not be exercisable until the Participant (i) repays in full any and all loans made to him by the Corporation (or by any Subsidiary or Affiliate of the Corporation),
unless the Participant has the prior written consent of the Committee to exercise the SAR as provided in Article 4 of the Plan, and (ii) makes arrangements, subject to the Corporation’s approval, for the payment of the
Participant’s minimum tax withholding obligations (pursuant to Article 13(d) of the Plan) required upon the exercise of this SAR. 
 (c)    The SAR may be exercised pursuant to the provisions of this Section 3 as set forth in Sections 9 and 10 hereof. 
 4.    Expiration of SAR. The term of the SAR shall be for a period of ten years from the Date of Grant, subject to earlier termination or cancellation as provided in this Agreement. The SAR
may not under any circumstances be exercised more than ten (10) years after the Date of Grant. To the extent unexercised, the SAR shall automatically expire at 12:00 midnight on the Expiration Date as set forth in the Notice of Grant.

 5.    Non-Transferability of SAR. The SAR shall not be assigned, transferred or otherwise disposed of, or
pledged or hypothecated in any way, and shall not be subject to execution, attachment or other process, except as may be provided in the Plan. Any assignment, transfer, pledge, hypothecation or other disposition of the SAR attempted contrary to the
provisions of the Plan, or any levy of execution, attachment or other process attempted upon the SAR, will be null and void and without effect. Any attempt to make any such assignment, transfer, pledge, hypothecation or other disposition of the SAR
will cause the SAR to terminate immediately upon the happening of any such event; provided, however, that any such termination of the SAR under the foregoing provisions of this Section 5 will not prejudice any rights or remedies which the
Corporation or any Subsidiary or Affiliate of the Corporation may have under this Agreement or otherwise. 
 6.    Exercise Upon Termination of Employment. Except as otherwise provided in the Notice of Grant or herein, or in a written employment agreement between the Corporation and the Participant, (a) if the
Participant’s employment with the Corporation terminates for any reason, the Participant shall have the right to exercise any SAR during the 90 day period after such termination of employment, to the extent it was vested at the date of such
termination, but in no event later than the date the SAR would have expired had it not been for the termination of such employment. If the Participant’s employment terminates due to Disability, such 90-day period during which the vested SAR
shall remain exercisable shall be extended to one year, but not beyond the expiration date of the SAR. If employment terminates due to the Participant’s death, or if the Participant dies in such 90-day or one-year post-employment exercise
period, the vested SAR will continue to be exercisable as provided herein, or, if no such provision is made in the Notice of Grant, for a period of one year after the Participant’s death, but not beyond the expiration date of the SAR.
Notwithstanding the foregoing, if a 
 Participant’s employment is terminated by the Corporation or by any Subsidiary or Affiliate for Good Cause,

 
then the Participant shall immediately forfeit his or her rights to exercise any and all outstanding SARs theretofore granted to him or her. 
 (b)    Except as otherwise provided in the Notice of Grant and subject to any non-compete restrictions set forth in Article 10 of the
Plan, in the event of the Participant’s Retirement or Early Retirement, the Participant shall have the right, on or before the earlier of the expiration date of the SAR or thirty-six (36) months following the date of such Retirement or
Early Retirement, to purchase Shares under any SARs which at Retirement or Early Retirement are, or within thirty-six (36) months following Retirement or Early Retirement would become, exercisable. 
 7.    Lock-Up Period. Participant hereby agrees that, if so requested by the Corporation or any representative of the
underwriters (the “Managing Underwriter”) in connection with any registration or the offering of any securities of the Corporation under the Securities Act, Participant shall not sell or otherwise transfer any Shares or other securities of
the Corporation during the 180-day period (or such other period as may be requested in writing by the Managing Underwriter and agreed to in writing by the Corporation) (the “Market Standoff Period”) following the effective date of a
registration statement of the Corporation filed under the Securities Act. The Corporation may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of the Market Standoff Period. 

8.    Registration. The Shares subject hereto and issuable upon the exercise hereof may not be registered under the
Securities Act of 1933, as amended, and, if required upon the request of counsel to the Corporation, the Participant will give a representation as to his investment intent with respect to such shares prior to their issuance. The Corporation may
register or qualify the shares covered by the SAR for sale pursuant to the Securities Act of 1933, as amended, at any time prior to or after the exercise in whole or in part of the SAR. 
 9.    Method of Exercise of SAR. Subject to the terms and conditions of this Agreement, the SAR shall be exercisable, in whole
or in part, by following the required steps and actions for exercise of the SAR through a third party benefit provider (such as a stock plan administrator) or by delivering a written Notice of Exercise (in a form designated by the Corporation),
together with such additional documents as the Corporation may then require, (the “Notice”) at any time after the SAR becomes exercisable as provided in the Notice of Grant and prior to the expiration date of the SAR. If the SAR is being
exercised by any person or persons other than the Participant, each Notice shall be accompanied by proof, satisfactory to counsel to the Corporation, of the right of such other person or persons to exercise the SAR. Each Notice of Exercise must be
received by the Corporation or its third party benefit provider on or before the date of the expiration of this SAR. In the event the date of expiration of this SAR falls on a day which is not a regular business day at the Corporation’s
executive office in Silver Spring MD., then such written Notice of Exercise must be received at such office on or before the last regular business day prior to such date of expiration. 
 10.    Settlement of SAR. Upon exercise of the SAR as provided in Section 9 above, a Participant shall be entitled to
receive from the Corporation that number of whole Shares equal in value to (i) the Fair Market Value of a Share on the date the Corporation receives the Notice of Exercise multiplied by the number of SARs being exercised, minus (ii) the
base price of the SAR multiplied by the number of SARs being exercised. In addition, the Corporation shall be entitled to withhold from delivery to the Participant that number of Shares equal in value to the minimum amount of tax that is required to
be withheld in connection with such SAR exercise, unless the Participant elects to pay the withholding tax in cash on the date of exercise of the SAR. Fractional Shares shall be disregarded. The SAR may be exercised only with respect to full Shares.

 11.    Electronic Delivery. The Corporation may, in its sole discretion, decide to deliver any documents
related to SARs awarded under the Plan or future SARs that may be awarded under the Plan by electronic means or request Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to receive such documents
by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Corporation or another third party designated by the Corporation. 

 12.    Payment of Withholding. The Corporation shall not be required to issue
or deliver any certificate or certificates for its Shares purchased upon the exercise of any part of this SAR prior to the payment to the Corporation, upon its demand, of any amount requested by the Corporation for the purpose of satisfying its
obligation, if any, to withhold federal, state, local or foreign income or earnings tax or any other applicable tax or assessment (plus interest or penalties thereon, if any, caused by a delay in making such payment) incurred by reason of the
exercise of this SAR or the transfer of Shares thereupon. Such withholding amount shall be paid by the Participant in cash. In the alternative, the Committee shall withhold from the Shares to be delivered to the Participant pursuant to an exercise
of this SAR that number of Shares having a Fair Market Value on the date the Corporation receives the Notice of Exercise equal to the amount of the minimum required withholding tax. Participant acknowledges and agrees that the Corporation may
provide for the payment of any such taxes through withholding from the Participant’s salary, reduction of the number of Shares or other securities to be issued, or otherwise. 
 13.    Approval of Counsel. The exercise of the SAR and the issuance and delivery of Shares pursuant thereto shall be subject
to approval by the Corporation’s counsel of all legal matters in connection therewith, including, but not limited to compliance with the requirements of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as
amended, and the rules and regulations thereunder, and the requirements of any shares exchange upon which the Shares may then be listed. 
 14.    Notices. Each notice relating to this Agreement shall be in writing and delivered in person or by certified mail to the proper address. All notices to the Corporation or the Committee shall be addressed to
them at 8515 Georgia Avenue, Silver Spring, MD 20910, Attn: Corporate Secretary. All notices to the Participant shall be addressed to the Participant or such other person or persons at the Participant’s address above specified. Anyone to whom a
notice may be given under this Agreement may designate a new address by notice to that effect. 
 15.    Benefits of
Agreement. This Agreement shall inure to the benefit of and be binding upon each successor and assign of the Corporation. All obligations imposed upon the Participant and all rights granted to the Corporation under this Agreement shall be
binding upon the Participant’s heirs, legal representatives and successors. 
 16.    Severability. In the
event that any one or more provisions of this Agreement shall be deemed to be illegal or unenforceable, such illegality or unenforceability shall not affect the validity and enforceability of the remaining legal and enforceable provisions hereof,
which shall be construed as if such illegal or unenforceable provision or provisions had not been inserted. 
 17.    Governing Law. This Agreement will be construed and governed in accordance with the laws of the State of Delaware. 
 18.    No Guarantee of Employment. Nothing contained in this Agreement shall be construed as (a) a contract of employment between the Participant and the Corporation or any Subsidiary
or Affiliate, (b) as a right of the Participant to be continued in the employ of the Corporation or of any Subsidiary or Affiliate, or (c) as a limitation of the right of the Corporation or of any Subsidiary or Affiliate to discharge the
Participant at any time, with or without cause. 
 19.    No Rights as Shareholder. The Participant shall not have
any rights to dividends or any other rights of a shareholder with respect to any Shares issuable upon the exercise of any part of the SAR unless and until such Shares shall have been issued by the Corporation to such holder (as evidenced by the
appropriate entry on the books of a duly authorized transfer agent of the Corporation). 
 20.    Nonqualified
Deferred Compensation. Neither the Corporation nor any Subsidiary or Affiliate shall be responsible for, or have any liability to the Participant or other person with respect to, any taxes or penalties which may be imposed on the Participant in
connection with an SAR granted under the Plan, in the event that such SAR shall violate the provisions of Section 409A of the Code and the regulations promulgated thereunder. 
  

 21.    Compliance with Section 409A. Nothing in the Plan or this
Agreement shall operate or be construed to cause the Plan or the SAR to fail to comply with the requirements of Section 409A of the Code. The applicable provisions of Section 409A and the regulations thereunder are hereby incorporated by
reference and shall control over any provision of the Plan or this Agreement in conflict therewith. 
 22.    Data
Privacy Notice and Consent. Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of Participant’s personal data as described in this Agreement by and among, as
applicable, Participant’s employer, the Corporation, its Subsidiaries and its Affiliates for the exclusive purpose of implementing, administering and managing Participant’s participation in the Plan. 
 Participant understands that the Corporation and Participant’s employer may hold certain personal information about Participant, including, but not limited to,
Participant’s name, home address and telephone number, date of birth, tax identification number, social insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in the
Corporation, details of all Stock Appreciation Rights or any other entitlement to Common Shares awarded, canceled, vested, unvested or outstanding in Participant’s favor, for the purpose of implementing, administering and managing the Plan
(“Data”). Participant understands that Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in Participant’s country, or
elsewhere, and that the recipient’s country may have different data privacy laws and protections than Participant’s country. Participant understands that Participant may request a list with the names and addresses of any potential
recipients of the Data by contacting Participant’s local human resources representative. Participant authorizes the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of
implementing, administering and managing Participant’s participation in the Plan, including any requisite transfer of such Data as may be required to a broker, escrow agent or other third party with whom the shares received upon vesting of the
Stock Appreciation Rights may be deposited. Participant understands that Data will be held only as long as is necessary to implement, administer and manage Participant’s participation in the Plan. Participant understands that Participant may,
at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing
Participant’s local human resources representative. Participant understands that refusal or withdrawal of consent may affect Participant’s ability to participate in the Plan. For more information on the consequences of Participant’s
refusal to consent or withdrawal of consent, Participant understands that Participant may contact Participant’s local human resources representative. 
 23.    Amendment. This Agreement may be amended in accordance with the Plan without the consent of the Participant, provided that no amendment of this Agreement shall reduce or diminish the
value of the SAR without the consent of the Participant. 
 24.    Acknowledgment of Nature of Plan and SAR. In
accepting the SAR grant, the Participant acknowledges that: 
 (a)    the Plan is established voluntarily by the
Corporation, it is discretionary in nature and may be modified, amended, suspended or terminated by the Corporation at any time, as provided in the Plan; 
 (b)    the grant of the SAR is voluntary and occasional and does not create any contractual or other right to receive future SAR grants, or benefits in lieu of a SAR even if SAR grants have been
awarded repeatedly in the past; 
 (c)    all decisions with respect to future awards, if any, will be at the sole
discretion of the Corporation; 
 (d)    Participant’s participation in the Plan is voluntary; 
 (e)    the SAR is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the
Corporation or to the Participant’s actual employer, and the SAR is outside the scope of the Participant’s employment contract, if any; 

 (f)    the SAR is not part of normal or expected compensation or salary for any
purposes, including, but not limited to, calculation of any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; 
 (g)    neither the SAR grant nor any provision of this Agreement, the Plan or the policies adopted pursuant to the Plan confer upon
Participant any right with respect to employment or continuation of current employment, and in the event that Participant is not an employee of the Corporation or any Subsidiary or Affiliate of the Corporation, the SAR grant shall not be interpreted
to form an employment contract or relationship with the Corporation or any Subsidiary or Affiliate of the Corporation; 
 (h)    the future value of the underlying Shares is unknown and cannot be predicted with certainty; 
 (i)    if Participant receives Shares, the value of such Shares may increase or decrease in value; 
 (j)    no claim or entitlement to compensation or damages shall arise from termination of the SAR grant, and no claim or entitlement to compensation or damages shall arise from any diminution in value of the Shares or
upon vesting of the SAR resulting from termination of the Participant’s employment by the Corporation or the Participant’s actual employer (for any reason whatsoever and whether or not in breach of local labor laws) and Participant
irrevocably releases the Corporation and the Participant’s actual employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this
Agreement, Participant shall be deemed irrevocably to have waived his or her entitlement to pursue such claim; and 
 (k)    in the event of involuntary termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Shares and vest under the Plan, if any, will terminate
effective as of the date that Participant is no longer actively employed and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of “garden leave” or similar period
pursuant to local law); furthermore, in the event of involuntary termination of employment (whether or not in breach of local labor laws), Participant’s right to receive Shares after termination of employment, if any, will be measured by the
date of termination of Participant’s active employment and will not be extended by any notice period mandated under local law; the Committee/Board shall have the exclusive discretion to determine when the Participant is no longer actively
employed for purposes of the SAR award. 
 25.    Incorporation of Terms of Plan. This Agreement shall be
interpreted under, and subject to, all of the terms and provisions of the Plan, which are incorporated herein by reference, and shall be further subject to all interpretations, amendments, rules and regulations, which may from time to time be
promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of this Agreement and those of the Plan, the provisions of the Plan will control. 
 IN WITNESS WHEREOF, the Corporation has caused this Agreement to be executed in its name by its President or one of its Vice Presidents and its corporate
seal to be hereunto affixed and attested by its Secretary or one of its Assistant Secretaries and the Participant has hereunto set his hand all as of the date, month and year first above written. 
  

	
	WorldSpace, Inc.
	
	 Donald J. Frickel
 EVP, General Counsel and Secretary

	
	   
	 Name of Awardee

	
	   
	 WorldSpace ID Number

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