Document:

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                                                                   Exhibit 10.1

                        SETTLEMENT AGREEMENT AND RELEASE

                  This SETTLEMENT AGREEMENT AND RELEASE ("SETTLEMENT AGREEMENT")
is made this 8th day of April 2003 by and among Globalstar, L.P., a Delaware
limited partnership ("GLP"), its debtor subsidiaries Globalstar Capital
Corporation, a Delaware corporation, Globalstar Services Company, Inc., a
Delaware corporation, and Globalstar, L.L.C., a Delaware limited liability
company, each of the foregoing entities a debtor and debtor-in-possession
(collectively, the "Debtors"), Globalstar USA, LLC, a Delaware limited liability
company ("GUSA"), the official committee of unsecured creditors appointed in the
Debtors' Chapter 11 cases (the "Creditors Committee"), Loral Space &
Communications Ltd., a Bermuda company ("Loral"), Space Systems/Loral, Inc., a
Delaware corporation ("SS/L"), the other Loral Entities on the signature pages
hereof, Loral/QUALCOMM Partnership, L.P., a Delaware limited partnership ("LQP")
and Loral General Partner, Inc., a Delaware corporation ("LGP").

                                   BACKGROUND

                  WHEREAS, on February 15, 2002, the Debtors (this and other
capitalized terms being defined in Article 1) and the GP Debtors each filed
voluntary petitions pursuant to chapter 11 of the Bankruptcy Code in the United
States Bankruptcy Court for the District of Delaware; and

                  WHEREAS, on March 5, 2002, the United States Trustee appointed
the Creditors Committee; and

                  WHEREAS, certain Loral Entities are creditors or equity
holders of, and/or parties to executory contracts with, certain of the Debtors;
and
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                  WHEREAS, the Loral Entities, collectively and without
duplication, have asserted approximately $882 million of liquidated plus
substantial unliquidated Claims against the Debtors, as set forth on Schedule
1.46 hereto; and

                  WHEREAS, the Creditors Committee has conducted an
investigation of the Loral Entities' relationships and dealings with the Debtors
and, based on such review, asserts that: (a) all or a portion of the Loral
Entities' Claims should be disallowed or equitably subordinated to General
Unsecured Claims; and (b) certain of the Loral Entities have substantial
liabilities to the Debtors; and

                  WHEREAS, the Loral Entities dispute the Creditors Committee's
assertions and, in any event, assert that the Loral Entities' valid Claims
exceed any valid claims the Debtors might assert against the Loral Entities; and

                  WHEREAS, all or substantially all of the liabilities of the GP
Debtors also are liabilities owed to the Debtors' creditors and are based on the
GP Debtors' status as direct or indirect general partners of GLP; and

                  WHEREAS, the GP Debtors hold certain assets, rights and
licenses that are critical to the reorganization of the Debtors, but are
otherwise of limited or no value to the GP Debtors; and

                  WHEREAS, the Parties hereby acknowledge and agree that it is
in the Parties' mutual best interests to enter into this Settlement Agreement
and thereby resolve all issues between the Loral Entities on the one hand and
the Creditors Committee and the Debtors on the other hand, on the terms set
forth herein; and

                  WHEREAS, the Parties hereby acknowledge and agree that the
intent and purpose of this Settlement Agreement is to resolve and settle
outstanding issues between the Loral Entities and the GP Debtors on the one hand
and the Creditors Committee and the Debtors on the other hand, and that each of
the elements of this Settlement Agreement is an integral element of this
Settlement Agreement, without which this Settlement Agreement would not have
been entered into by the Parties; and

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                  WHEREAS, the Bankruptcy Court has jurisdiction over these
cases and this matter pursuant to 28 U.S.C.Section 157 and 1334;

                  NOW, THEREFORE, it is hereby stipulated and agreed, by and
among the undersigned Parties in consideration of the promises and the mutual
covenants and agreements herein contained as follows:

                            ARTICLE 1 -- DEFINITIONS

                  The following terms used in this Settlement Agreement shall
have the definitions set forth below:

                  1.1. "ADDITIONAL AMOUNT" means the amount, if any, by which
$57 million exceeds the aggregate amount of the Vendor Financing Claims.

                  1.2. "ALLOWED CLAIM" means

                  a. a Claim that (i) has been listed by a particular Debtor on
its schedules as other than disputed, contingent or unliquidated and (ii) is not
otherwise a disputed Claim;

                  b. a Claim (i) for which a proof of Claim or request for
payment of administrative Claim has been filed by the applicable bar date or
otherwise been deemed timely filed under applicable law and (ii) that is not
otherwise a disputed Claim; or

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                  c. a Claim that is allowed: (i) in any stipulation executed by
the applicable Debtor and Claim holder on or after the Effective Date; (ii) in
any contract, instrument or other agreement entered into in connection with the
Plan and, if prior to the Effective Date, approved by the Bankruptcy Court;
(iii) in a Final Order; or (iv) pursuant to the terms of the Plan.

                  1.3. "ALLOWED...CLAIM" means an Allowed Claim in the
particular class or category specified under the Plan. Any reference herein to a
particular Allowed Claim includes both the secured and unsecured portions of
such Claim.

                  1.4. "APPROVAL DATE" means the date of entry of the Approval
Order.

                  1.5. "APPROVAL ORDER" means an order of the Bankruptcy Court
authorizing and approving this Settlement Agreement.

                  1.6. "ASSUMED CONTRACT" means any contract between a Debtor
and a Loral Entity that is assumed pursuant to Section 365 of the Bankruptcy
Code.

                  1.7. "BANKRUPTCY CODE" means title 11 of the United States
Code, 11 U.S.C. Section 101-1330, as now in effect or hereafter amended.

                  1.8. "BANKRUPTCY COURT" means the United States Bankruptcy
Court for the District of Delaware or such other Court having jurisdiction over
the relevant issue in the Reorganization Cases or the GP Debtors' chapter 11
cases, as applicable.

                  1.9. "BANKRUPTCY RULES" means the Federal Rules of Bankruptcy
Procedure and the local rules of the Bankruptcy Court, as now in effect or
hereafter amended.

                  1.10. "BENEFITS" means the benefits of the Strategic
Agreements and the FCC Big Leo License on terms not materially less favorable
than exist in favor of GLP as of the date hereof (other than, as to the
Strategic Agreements, the provisions of Section 2.2 hereof).

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                  1.11. "BRAZIL SERVICE PROVIDERS" means Loral/DASA Globalstar,
L.P., Loral/DASA Brasil Holdings Ltda., and Globalstar do Brasil, S.A.

                  1.12. "BUSINESS DAY" means any day, other than a Saturday,
Sunday or legal holiday (as defined in Bankruptcy Rule 9006(a)).

                  1.13. "CANADIAN SERVICE PROVIDERS" means GCSC, ATSS/Loral
Netherlands BV, and Globalstar Canada.

                  1.14. "CAUSE OF ACTION" means any action, cause of action,
suit, account, controversy, agreement, promise, right to legal remedy, right to
an equitable remedy (including, without limitation, any equitable subordination
and recharacterization of claims actions), right to payment or claim, whether
known or unknown, reduced to judgment, not reduced to judgment, liquidated,
unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed,
secured, unsecured and whether asserted or assertable directly, indirectly or
derivatively, in law, equity or otherwise.

                  1.15. "CLAIM" means a claim, as defined in Section 101(5) of
the Bankruptcy Code, against any Debtor. 1.16. "CLOSING DATE" means the first
business day on which the Approval Order becomes a Final Order, such later date
as may be agreed upon by the Creditors Committee, GLP and Loral, or such earlier
date following the Approval Date as to which Loral may agree, in each case
provided that on such date substantial consummation of the transactions provided
for in this Settlement Agreement occurs.

                  1.17. "CONFIRMATION DATE" means the date of entry of the
Confirmation Order by the Bankruptcy Court.

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                  1.18. "CONFIRMATION ORDER" means the order of the Bankruptcy
Court confirming a Plan pursuant to Section 1129 of the Bankruptcy Code.

                  1.19. "CONVENIENCE CLAIMS" means "Convenience Claims" or other
similar term as defined in the Plan, as amended from time to time, referring to
Allowed General Unsecured Claims below a limited US dollar threshold.

                  1.20. "COOPERATION COVENANT" shall have the meaning ascribed
to it in Section 5.1 hereof.

                  1.21. "COOPERATION PERIOD" means the time from the Approval
Date through the earliest to occur of the (a) the Effective Date of a Plan, (b)
the date of entry of an order converting GLP's Reorganization Case to a case
under chapter 7 of the Bankruptcy Code, and (c) the Deadline.

                  1.22. "CREDITORS COMMITTEE" shall have the meaning ascribed to
it in the preamble.

                  1.23. "DEADLINE" means December 31, 2003 or such other date as
may be agreed to in writing by GLP, the Creditors Committee and Loral.

                  1.24. "DEBTORS" means shall have the meaning ascribed to it in
the preamble.

                  1.25. "EFFECTIVE DATE" means the effective date of a Plan.

                  1.26. "FCC" means the Federal Communications Commission.

                  1.27. "FCC BIG LEO LICENSE" means the FCC license issued to
LQP, and currently held by L/Q Licensee, to provide mobile satellite services in
the 1610-1626.5/2483.5-2500 MHz bands.

                  1.28. "FINAL ORDER" means: (a) an order of the Bankruptcy
Court as to which the time to appeal, petition for certiorari or move for
reargument or rehearing has expired and as

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to which no appeal, petition for certiorari or other proceedings for reargument
or rehearing shall then be pending; or (b) if an appeal, writ of certiorari,
reargument or rehearing thereof has been filed or sought, or order of the
Bankruptcy Court that shall have been affirmed by the highest court to which
such order was appealed, or as to which certiorari shall have been denied or
reargument or rehearing shall have been denied or which resulted in no
modification of such order, and the time to take any further appeal, petition
for certiorari or move for reargument or rehearing shall have expired; provided,
however, that the possibility that a motion under Rule 59 or Rule 60 of the
Federal Rules of Civil Procedure, or any analogous rule under the Bankruptcy
Rules, may be filed with respect to such order shall not cause such order not to
be a Final Order.

                  1.29. "GCSC" means Globalstar Canada Satellite Co., a Nova
Scotia, Canada corporation.

                  1.30. "GENERAL UNSECURED CLAIMS" means all unsecured Claims
against the Debtors other than a claim entitled to priority pursuant to Section
507 of the Bankruptcy Code.

                  1.31. "GENERAL PARTNERS COMMITTEE" means the governing body of
GLP under the Amended and Restated Agreement of Limited Partnership of
Globalstar, L.P., which is currently comprised of the following six members:
Olof Lundberg, Chairman, Sir Ronald Grierson, A. Robert Towbin, and, subject to
Section 5.2 hereof, Russell R. Mack, Bernard L. Schwartz, and Eric J. Zahler.

                  1.32. "GLOBALSTAR CANADA" means Globalstar Canada Co., a Nova
Scotia, Canada company.

                  1.33. "GLOBALSTAR ENTITIES" means the Debtors and all of their
respective subsidiaries.

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                  1.34. "GLOBALTEL" means GlobalTel C.J.S.C., a Russian closed
joint-stock company.

                  1.35. "GLP" shall have the meaning ascribed to it in the
preamble.

                  1.36. "GLP PARTNERSHIP INTERESTS" means the ordinary
partnership interests and both classes of redeemable preferred partnership
interests in GLP (including all ordinary partnership interests which are
reserved to provide for purchases of interests by GTL upon exercise of options
to purchase GTL common stock).

                  1.37. "GP DEBTORS" means LGP Bermuda, Loral/QUALCOMM Satellite
Services, L.P., LQP and LGP.

                  1.38. "GSLLC" means Government Services, LLC, a Delaware
limited liability company.

                  1.39. "GTL" means Globalstar Telecommunications Limited, a
Bermuda exempted company, and a general partner of GLP.

                  1.40. "GUSA" means Globalstar USA, LLC, a Delaware limited
liability company.

                  1.41. "INTEREST" means any capital stock, partnership
interest, limited liability company membership interest, or other ownership
interest.

                  1.42. "LGP" means Loral General Partner, Inc., a Delaware
corporation.

                  1.43. "LGP BERMUDA" means LGP (Bermuda) Ltd., a Bermuda
company.

                  1.44. "LORAL" means Loral Space & Communications Ltd., a
Bermuda company.

                  1.45. "LORAL CANADIAN INTEREST" means the Loral Entities' (i)
49.9% interests in GCSC and ATSS/Loral Netherlands BV, (ii) 23% interest in
Globalstar Canada, and (iii) any

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other equity interests or contractual rights primarily related to the ownership
or operation of the Globalstar gateways or service providers in Canada.

                  1.46. "LORAL CLAIMS" means all Claims of the Loral Entities.

                  1.47. "LORAL DESIGNEES" means Russell R. Mack, Bernard L.
Schwartz, and Eric J. Zahler.

                  1.48. "LORAL ENTITIES" mean, collectively: (a) Loral; (b)
Loral Space & Communications Corporation; (c) SS/L; (d) Loral/DASA Globalstar,
L.P.; (e) Loral SpaceCom Corporation; (f) Loral Satellite, Inc.; (g) Loral
CyberStar International, Inc.; and (h) all of the respective current direct and
indirect subsidiaries and affiliates of the entities identified in subclauses
(a) through (g) of this Section 1.48 (other than the Debtors, their Non-Debtor
Subsidiaries, the Canadian Service Providers, GlobalTel, the Mexico Service
Providers, the Brazil Service Providers and the GP Debtors).

                  1.49. "LORAL RELEASE" means the release to be granted pursuant
to Section 8.1 hereof.

                  1.50. "L/Q LICENSEE" means L/Q Licensee, Inc., a Delaware
corporation.

                  1.51. "LQP" means Loral/QUALCOMM Partnership, L.P, a Delaware
limited partnership.

                  1.52. "MEXICO SERVICE PROVIDERS" means ATTS/Loral Mexico,
L.P.; Mexico Satellite LLC; Globalstar de Mexico S. de R.L. de C.V.; and
Servicios Corporativos Alcance S.A. de C.V.

                  1.53. "NEW GLOBALSTAR" means the reorganized Debtors,
successors to the Debtors under a Plan, or the purchaser of the Debtors' assets,
in each case that will, directly or

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through subsidiaries, contain all or a substantial portion of the Debtors'
assets after the Effective Date.

                  1.54. "NON-DEBTOR SUBSIDIARIES" mean all of the Debtors'
non-debtor subsidiaries, in which the Debtors own or acquire a controlling
interest through and including the Effective Date, including, without
limitation, Globalstar Corporation, Globalstar Europe Satellite Services Ltd.,
Globalstar Republica Dominicana, S.A., Globalstar Japan, K.K., Globalstar
Holdings, Ltd., Globalstar International Services Ltd., Stonestreet Holdings NV,
Globalstar Offshore Co., GCSC, ATSS/Loral Netherlands B.V., ATSS Canada, Inc.,
Globalstar Satellite Services, Inc., Mobile Satellite Services B.V., Globalstar
Europe S.A.R.L., Globalstar USA, LLC, Globalstar Caribbean Ltd. and the Canadian
Service Providers.

                  1.55. "PARTIES" means the Debtors, the Creditors Committee,
the GP Debtors, and the Loral Entities that are signatories to this Settlement
Agreement.

                  1.56. "PERSON" shall have the meaning set forth in section
101(41) of the Bankruptcy Code.

                  1.57. "PLAN" means a chapter 11 plan for the Debtors.

                  1.58. "QUALCOMM" means QUALCOMM Incorporated.

                  1.59. "RECOVERY ACTION" means, collectively and individually:
(a) preference actions, fraudulent conveyance actions, rights of setoff and
other claims or causes of action under Sections 510, 544, 547, 548, 549, 550 and
553 of the Bankruptcy Code and other applicable bankruptcy or non-bankruptcy
law; (b) claims or causes of action arising out of illegal dividends or similar
theories of liability; (c) claims or causes of action based on piercing the
corporate veil, alter ego liability or similar legal or equitable theories of
recovery arising out of the ownership or operation of the Debtors; (d) claims or
causes of action based on unjust enrichment; (e) claims or

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causes of action for breach of fiduciary duty, mismanagement, malfeasance or
fraud; and (f) claims or causes of action relating to the provision of retiree
medical benefits and the provision of director and officer liability insurance
or indemnification.

                  1.60. "REORGANIZATION CASE" means: (a) when used with
reference to a particular Debtor, the chapter 11 case pending for that Debtor in
the Bankruptcy Court; and (b) when used with reference to all Debtors, the
chapter 11 cases pending for the Debtors in the Bankruptcy Court.

                  1.61. "REORGANIZATION PLAN" means a Plan that provides for all
or a substantial portion of the Debtors to continue as a going concern.

                  1.62. "REPLACEMENT NOTE" means the note to be issued to Loral
or its designee by Globalstar Canada pursuant to Section 3.4 hereof.

                  1.63. "REPRESENTATIVE(S)" means for any entity, any and all of
its officers, directors, employees, members of a general partners' committee
(including as to the Debtors, the General Partners Committee), the direct or
indirect general partners, direct or indirect limited partners, attorneys,
advisors, and investment bankers, in each case, solely in their capacity as
such.

                  1.64. "RULE 9019 MOTION" means a motion pursuant to Rule 9019
of the Bankruptcy Rules filed in the Debtors' Reorganization Cases or in the GP
Debtors' chapter 11 cases seeking approval of this Settlement Agreement.

                  1.65. "RUSSIAN DEBT" means the net amount owed by GlobalTel to
GLP as of the Closing Date. For the avoidance of doubt, the amount of the
Russian Debt, as of January 26, 2003, is approximately $1.6 million.

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                  1.66. "RUSSIAN NOTE" means the note to be issued to Loral by
Globalstar Canada pursuant to Article 3 of this Settlement Agreement.

                  1.67. "SATELLITE CONTRACT" means Contract for the Design and
Delivery of the Globalstar Satellite System, Contract No. GS-C-94-008, dated
February 16, 1994 (as amended, modified, and supplemented).

                  1.68. "SECTION 363 SALE" means a sale of all or a substantial
portion of the Debtors' assets as a going concern under Section 363 of the
Bankruptcy Code.

                  1.69. "SETTLEMENT AGREEMENT" shall have the meaning set forth
in the introductory paragraph hereof.

                  1.70. "SETTLEMENT MOTION" means the Rule 9019 Motion filed by
the Creditors Committee and the Debtors in the Bankruptcy Court seeking approval
of this Settlement Agreement.

                  1.71. "SPARE SATELLITES" means the eight spare satellites
remaining to be delivered to GLP under the Satellite Contract.

                  1.72. "SS/L" means Space Systems/Loral, Inc., a Delaware
corporation.

                  1.73. "STRATEGIC AGREEMENTS" means (a) the Strategic
Agreement, dated as of March 23, 1994 between LQP and Airtouch Communications;
(b) the Memorandum of Understanding - US Government and Aviation - between GUSA
and LQP, dated as November 1999; and (c) the Globalstar Service Reseller
Agreement between GUSA and Government Services, LLC dated April 1, 2000.

                  1.74. "THIRD PARTY RELEASES" means a release providing that
each (a) of the Non-Debtor Subsidiaries and (b) holder of (i) a Claim (whether
or not allowed) against or Interest in a Debtor or (ii) a GLP Partnership
Interest, and (c) Person participating in exchanges

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and distributions under or pursuant to the Plan, shall be enjoined from
commencing and continuing any Cause of Action, Recovery Action, employment of
process or act to collect, offset or recover and shall release any Claim or
Cause of Action and/or Recovery Action arising from the beginning of time
through the Confirmation Date against the Loral Entities or any Representative
thereof in any way directly or indirectly relating to or concerning the Debtors,
including, without limitation, their management and operations, the
Reorganization Cases, or the Plan (other than (i) claims arising after the
Confirmation Date under any Assumed Contract; (ii) claims for all sums due in
connection with ordinary course postpetition commercial transactions between any
Loral Entity and any Globalstar Entity; and/or (iii) claims arising under this
Settlement Agreement).

                  1.75. "2GHZ AGREEMENT" means the Contract Between Globalstar,
L.P. and SS/L for the Globalstar Second Generation Satellite System, No.
GS-C-02-0612, dated July 16, 2002, providing for the design and construction of
a mobile satellite system in the 2GHz band.

                  1.76. "UNDERTAKING" shall have the meaning ascribed to it in
Section 5.2 hereof.

                  1.77. "VENDOR FINANCING CLAIMS" means the pass through vendor
financing Claims of third party subcontractors to SS/L, as listed on Schedule
7.1 hereto, including those arising under the Satellite Contract.

                 ARTICLE 2 -- TREATMENT OF EXISTING AGREEMENTS

                  2.1. Satellite Contract.

                  2.1.1 Rejection. On the Approval Date, but subject to the
occurrence of the Closing Date, the Satellite Contract shall hereby be rejected
by the Debtors.

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                  2.1.2 Transfer. On the Closing Date, SS/L will deliver to GLP
title to the Spare Satellites and one dispenser covered by the Satellite
Contract. The Spare Satellites shall be transferred as is, where is.

                  2.1.3 Completion of 8th Satellite. After the Closing Date,
upon request of GLP, SS/L shall provide GLP with proposed contract terms in
reasonable detail, including a price, not to exceed $1,000,000, to complete the
eighth Spare Satellite. GLP and SS/L will negotiate such terms in good faith,
but failure to reach final agreement shall not constitute a breach of this
Settlement Agreement by either party.

                  2.1.4 Modification/Maintenance/Storage. After the Closing
Date, SS/L will, if GLP so requests, provide GLP with proposed contract terms to
retrofit or modify any of the Spare Satellites and to maintain and store the
Spare Satellites. GLP and SS/L will negotiate such terms in good faith, but
failure to reach final agreement shall not constitute a breach of this
Settlement Agreement by either party. GLP and SS/L shall use their reasonable
best efforts to reach an agreement prior to the Closing Date for the maintenance
and storage of the Spare Satellites for the period after the Closing Date. If
such an agreement has not been reached by the Closing Date then for a period of
at least 180 days after the Closing Date, SS/L shall store and maintain the
Spare Satellites in accordance with the standards provided for in the Satellite
Contract and GLP shall be liable to pay monthly for the reasonable value of any
such maintenance or storage of the Spare Satellites.

                  2.1.5 Launch Services. After the Closing Date, if GLP so
requests, SS/L will provide GLP with proposed contract terms to provide launch
services for the Spare Satellites for a fee based on time and materials. GLP and
SS/L will negotiate such terms in good faith, but failure to reach final
agreement shall not constitute a breach of this Agreement by either party.

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                  2.2. Strategic Agreements.

                  2.2.1 Termination. On the Closing Date, each of the Strategic
Agreements shall terminate (unless any of such agreements previously expired or
terminated in accordance with its terms), except as provided in Section 2.2.2
hereof.

                  2.2.2 Joint Venture. On or as soon as practicable after the
Closing Date, LGP, as the sole member of GSLLC, shall amend GSLLC's Limited
Liability Company Agreement to designate GLP or its designee as a member with
the right to own and control seventy-five (75) percent of GSLLC's membership
interests and appoint seventy-five (75) percent of the directors and all of the
officers of GSLLC and designate Loral or its affiliate designee with the right
to own and control the other twenty five (25) percent of GSLLC's membership
interests. Said amendment shall be in form and substance reasonably acceptable
to the Parties, shall provide that GLP or its designee shall have management
control over the joint venture, including budget matters, which includes all
pricing and related matters, and shall include minority protections in favor of
Loral or its affiliate designee crafted to ensure that Loral or its affiliate
designee will receive its proportionate share of distributions of the net income
of GSLLC and other economic value of GSLLC and not be treated disproportionately
to the treatment of GLP or its designee as a member of GSLLC, it being
understood by the Parties that the amendment otherwise shall not provide Loral
or its designee with independent rights to control GSLLC generally or otherwise
have consent rights in connection with such events as financings, acquisitions,
or merger or other change of control transactions. The parties shall use their
reasonable best efforts to agree on the form of agreement governing the joint
venture prior to the Closing Date. As of the effective date of said amendment,
GUSA and LQP will assign to GSLLC their respective rights under the

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Strategic Agreements relating to government services, but not commercial and
general aviation services, which commercial and general aviation rights shall
revert to GUSA.

                  2.2.3 Exclusive Right to Offer Certain Services. For the
avoidance of doubt, GSLLC shall have the exclusive right to offer (i) Globalstar
services in the United States to the United States Department of Defense, and
other United States national security agencies; and (ii) encrypted and / or
secure Globalstar services to all federal, state and local government
subscribers in the United States who require encrypted or end-to-end services;
including without limitation, to the United States customers specified in the
list attached as Exhibit A-1 to the GUSA Globalstar Service Reseller Agreement,
dated as of April 1, 2000.

                  2.2.4 Exploitation. Pending creation of the joint venture, GLP
and GSLLC each shall coordinate their respective performance under the Strategic
Agreements with one another and, consistent with the terms thereof, will not
take any material actions thereunder without the consent of the other party;
provided, however, that GLP and GUSA may continue to add subscribers for the
credit of GSLLC in accordance with existing subscription practices and
procedures.

                  2.2.5 Deemed Valuation. Unless otherwise agreed by GLP and
Loral, the valuation of the joint venture for purposes of any new equity
investments in the joint venture by any Loral Entity or by GLP or any of its
affiliates shall be supported by a valuation opinion (or other appropriate
substitute opinion) of a nationally recognized investment banking firm selected
by GLP and Loral, such opinion to be at the expense of the joint venture. Loral
shall have the right to participate in any such new equity investment in the
joint venture in accordance with such valuation opinion for the purpose of
maintaining its proportionate ownership interest in the joint venture.

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                  2.3. 2GHz Agreement.

                  2.3.1 Refund. On the Closing Date, SS/L shall refund
$2,260,000 and retain $740,000 paid by GLP under the 2GHz Agreement and, subject
to the other provisions of this Section 2.3, such payments shall be in full
satisfaction of the parties' respective obligations to date under the 2GHz
Agreement.

                  2.3.2 Termination Fee. On the Closing Date, SS/L shall waive
the $250,000 termination fee under the 2GHz Agreement except as to a termination
after the agreement is reinstated pursuant to Section 2.3.3 hereof.

                  2.3.3 Reinstatement. The 2GHz Agreement shall not be deemed
terminated in connection with this settlement; provided, however, that prior to
GLP being able to rescind its stop work order thereunder, GLP shall be required
to reinstate SS/L's right to a $250,000 termination fee for any future
termination under the 2GHz Agreement and the reinstatement otherwise shall be on
terms acceptable to SS/L and GLP, subject to the requirement that in no event
shall GLP be required to prepay more $2,260,000.

                  2.4. Other Executory Contracts.

                  2.4.1 Assumption/Rejection. Except with respect to a contract
specifically addressed in this Article 2, (i) by the Approval Date, GLP shall
determine on a non-binding basis whether to assume or reject all contracts with
Loral Entities and advise Loral of those determinations, and (ii) the Debtors
shall assume or reject all of the contracts with the Loral Entities on or before
the earlier of: (a) the Confirmation Date; or (b) 30 days after the date of
approval of a Section 363 Sale by the Bankruptcy Court.

                  2.5. Claims Under Existing Agreements.

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                  2.5.1 Cure. Each contract with a Loral Entity assumed by the
Debtors shall be treated in accordance with Section 365 of the Bankruptcy Code
for purposes of cure determinations upon assumption.

                  2.5.2 Rejection/Termination. With respect to each contract
with a Loral Entity in existence prior to the date hereof that is rejected or
otherwise terminated by the Debtors: (a) the applicable Loral Entity shall have
no rejection, damage or any other Claim except as provided in this Settlement
Agreement; and (b) the Debtors shall have no claims against the Loral Entities,
including, without limitation, any warranty claims.

                  2.5.3 Cooperation. Commencing on the Closing Date, the Loral
Entities and the Debtors each shall provide reasonable cooperation to the other
in the turnover and use of technical information in accordance with contracts
existing on the Approval Date, whether or not such contracts are rejected by the
Debtors. Without limitation, SS/L and GLP will enter into an intellectual
property agreement providing for the transfers of certain Globalstar-related
patents from SS/L to GLP, subject to a non-exclusive and non-transferable
(except to an affiliate of SS/L), perpetual, royalty-free license therein being
granted back to SS/L, and the retention by SS/L of rights to use the Globalstar
system-related intellectual property developed under such contracts (including,
without limitation, the Satellite Contract). GLP and SS/L will negotiate the
terms of such intellectual property agreement in good faith, but failure to
reach final agreement shall not constitute a breach of this Settlement Agreement
by either party.

                     ARTICLE 3 -- CANADIAN SERVICE PROVIDER

                  3.1. Transfer of Loral Canadian Interest. On the Closing Date,
the applicable Loral Entities shall transfer the Loral Canadian Interest to GLP
and Loral shall take such steps necessary to cause the applicable Loral Entities
to effect such transfer.

                                       18
<PAGE>
                  3.2. Releases. On the Closing Date, except as provided in
Section 3.4 hereof, each of the Canadian Service Providers on the one hand and
each of the Loral Entities on the other hand shall have no further liability or
indemnity obligations to each other.

                  3.3. Globalstar Canada. On or after the Approval Date, to the
extent not previously acquired, GCSC may acquire Canadian Satellite
Communications Inc.'s direct or indirect interest in Globalstar Canada using
GCSC's cash on terms reasonably acceptable to GLP, Loral and the Creditors
Committee. After the Closing Date, Loral will cooperate with GLP in supporting
such acquisition.

                  3.4. Treatment of Loral's $10 Million Claim. On the Closing
Date, the $10 million owed by Globalstar Canada to Loral shall be replaced by
the issuance by Globalstar Canada to Loral or to Loral's affiliate designee of
the Replacement Note and Russian Note having the following terms:

                  3.4.1 Replacement Note

                        (i)   The Replacement Note shall be in the principal
                              amount of $10 million less the sum of (a) the
                              aggregate amount of net Brazil and net Mexico
                              Service Providers debt due to GLP as of the
                              Approval Date, (for the avoidance of doubt, such
                              amounts being approximately $5 million and
                              $600,000, respectively, as of January 26, 2003),
                              plus (b) the principal amount of the Russian Note.
                              For the avoidance of doubt, as of January 26, 2003
                              the principal amount of the Replacement Note would
                              have been approximately $2.8 million.

                        (ii)  The Replacement Note shall bear interest at 6% per
                              annum payable quarterly in arrears.

                        (iii) The Replacement Note shall be amortized in twelve
                              equal quarterly installments payable in arrears
                              during the three years commencing with the second
                              anniversary of the Closing Date with the first
                              such payment being due at the end of the quarter
                              in which occurs the second anniversary of the
                              Closing Date.

                        (iv)  The Replacement Note shall have customary terms as
                              may be agreed upon among Loral, the Creditors
                              Committee and GLP,

                                       19
<PAGE>
                              including, without limitation, events of default
                              and acceleration upon non-payment of principal or
                              interest.

                  3.4.2 Russian Note

                        (i)   The Russian Note shall be in the principal amount
                              of the Russian Debt (for the avoidance of doubt,
                              such amount being approximately $1.6 million as of
                              January 26, 2003).

                        (ii)  The Russian Note shall bear interest at 6% per
                              annum payable quarterly in arrears; provided,
                              however, that for interest accruing during the
                              period from the Closing Date through the first
                              anniversary of the Closing Date, such interest
                              shall be payable and paid only to the extent, if
                              any, that GLP receives payments on the Russian
                              Debt during such period.

                        (iii) From and after the Closing Date, amounts paid on
                              invoices by GLP or its affiliates or subsidiaries
                              for services or equipment provided to GlobalTel
                              after the Closing Date may not be applied to the
                              Russian Debt.

                        (iv)  At any time after the first anniversary of the
                              Closing Date, Globalstar Canada shall have the
                              right to satisfy any unpaid portion of the Russian
                              Note by causing GLP to assign an equivalent amount
                              of the unpaid portion of the Russian Debt to Loral
                              (pursuant to an assignment in a form reasonably
                              acceptable to Loral), which shall reduce the
                              amount of the Russian Note by the amount of the
                              Russian Debt so assigned.

                        (v)   Except as set forth above, the Russian Note shall
                              contain the same terms as the Replacement Note.

                        (vi)  GLP shall use its reasonable best efforts promptly
                              to collect (and after an assignment of the Russian
                              Debt to Loral, to cooperate with Loral's efforts
                              to collect) the Russian Debt.

            ARTICLE 4 -- BRAZIL, MEXICO AND RUSSIA SERVICE PROVIDERS

                  4.1. Loral to Retain Ownership. On the Closing Date, the Loral
Entities will retain their respective ownership interests in the Brazil and
Mexico Service Providers and GlobalTel. Promptly following a written request
from Loral, the Debtors will assign or cause to be assigned to Loral or its
affiliate designee each of the Globalstar Entities' respective actual or
asserted interests, if any, (i) in GlobalTel as of the Closing Date, and (ii)
any interest in the

                                       20
<PAGE>
Brazil Service Providers owned by the GP Debtors that is described in Section
6.3 hereof and that is assigned to GLP in connection with this settlement or
acquired by GLP as part of substantive consolidation with the GP Debtors.

                  4.2. Most Favored Nation Status. From and after the Closing
Date, the Debtors (and their Non-Debtor Subsidiaries) shall provide the Brazil
Service Providers, Mexico Service Providers and GlobalTel with most favored
nation status, e.g., the Debtors will provide Globalstar service on terms,
including price, payment terms, and quality of service, no less favorable than
the Debtors provide to any other service provider for similar types and
quantities of services, and upon request, shall enter into written contracts
with the Brazil Service Providers, Mexico Service Providers and GlobalTel
reflecting those terms.

                  4.3. Assignment of Debt. On the Closing Date, the net amounts
due to GLP by Brazil or Mexico Service Providers (to the extent of the amounts
of the reductions to the principal amount of the Replacement Note made pursuant
to Section 3.4.1(i)(a) hereof) shall be assigned to Loral or its affiliate
designee pursuant to assignments in forms reasonably acceptable to Loral.

                  4.4. Prepaid Minutes. Through March 31, 2004, Globalstar will
honor the prepaid minutes in existence as of the Approval Date of the Brazil and
Mexico Service Providers as well as GlobalTel.

                   ARTICLE 5 -- ADDITIONAL LORAL OBLIGATIONS

                  5.1. Cooperation Covenant. Provided that the Loral Designees
have resigned from the Globalstar GP Committee, during the Cooperation Period,
Loral shall: (a) use its reasonable best efforts to consummate any debtor in
possession financing proposal or third party investment proposal for the Debtors
that is supported in writing by the Creditors Committee; and (b) regarding any
Plan or motion for a Section 363 Sale for Globalstar filed in the Bankruptcy
Court,

                                       21
<PAGE>
vote against and not support such Plan or motion if the Creditors Committee
files an objection to such Plan or motion, and for so long as the Creditors
Committee does not withdraw such objection (the "Cooperation Covenant").

                  5.2. Loral Designees' Resignations. On the Closing Date,
subject to the Approval Order becoming a Final Order and expressly approving the
Loral Release and authorizing the resignations of the Loral Designees, Loral
shall cause the Loral Designees to resign from their respective seats on the
General Partners Committee. If such resignations are not authorized by the
Bankruptcy Court or otherwise are prohibited by applicable law or agreements,
then the Creditors Committee, GLP and Loral shall agree on alternative
management arrangements consistent with the Cooperation Covenant. In any event,
prior to and after the resignation of any Loral Designees from the General
Partners Committee, Loral shall take, and cause the Loral Designees to take,
subject to their fiduciary duties, such action as may be reasonably requested by
GLP to ensure that: (a) the General Partners Committee continues, following such
resignations, to have the legal ability to manage and direct the business and
affairs of GLP; and (b) actions taken by GLP based on the approval and direction
of the GLP Committee as it exists following such resignations will be duly
authorized to the same extent as if such actions were approved and directed by
the General Partners Committee as it exists today (the "Undertaking"). Requested
actions may include, among other things, a reduction in the size of the General
Partners Committee and the filling of vacancies on the Globalstar GP Committee.
The Creditors Committee and Globalstar shall fully cooperate in Loral's efforts
to fulfill the Undertaking. The sole remedy for any breach by Loral of such
Undertaking shall be to require specific performance.

                                       22
<PAGE>
                  5.3. Plan Votes. The Loral Entities shall vote for and support
any Plan that is consistent with the terms and conditions of this Settlement
Agreement (including, without limitation, containing the provisions in Articles
8 and 10 and containing no other terms materially adverse to the Loral
Entities); provided, however, that in respect of the Vendor Financing Claims,
any vote shall be subject to obtaining any requisite consents.

                  5.4. Waiver. Loral shall waive any right to assert there has
been a waiver of any valid and enforceable attorney client privilege of GLP or
the Creditors Committee due to the fact the Creditors Committee and the Debtors
exchanged information for purposes of the Settlement Motion regarding potential
claims against the Loral Entities.

                      ARTICLE 6 -- GP DEBTORS' OBLIGATIONS

                  6.1. Big Leo License. On or as soon as practicable after the
Closing Date, subject to FCC approval, LQP either will (i) cause L/Q Licensee to
assign the FCC Big Leo License to GLP or (ii) assign its 100% stock ownership
interest in L/Q Licensee to GLP. The Creditors Committee, and after the
resignation of the Loral Designees, the Creditors Committee and GLP, shall
determine which option is chosen unless regulatory restrictions preclude one
option. Loral, the GP Debtors, the Creditors Committee and GLP each shall use
their reasonable best efforts to obtain any regulatory approvals required for
the transfer to GLP of the FCC Big Leo License or the L/Q Licensee stock.

                  6.2. Strategic Agreements. On the Closing Date, the GP Debtors
shall consent to the termination and assignment of the Strategic Agreements
contemplated by Section 2.2 hereof.

                  6.3. Brazil Service Providers. On the Closing Date, LGP
Bermuda shall assign to GLP or GLP's designee, LGP Bermuda's equity interests in
Loral Skynet do Brasil, Ltda. (.00003%) and Loral Space do Brasil Ltda.
(.0003%), subject to any applicable third party or regulatory constraints, which
shall then be immediately assigned, subject to any applicable third party or

                                       23
<PAGE>
regulatory constraints, to the Loral Entities in accordance with Section 4.1
hereof.

                     ARTICLE 7 -- TREATMENT OF LORAL CLAIMS

                  7.1. Vendor Financing Claims. The Vendor Financing Claims
shall be Allowed General Unsecured Claims in the amounts submitted by Loral,
subject to Creditors Committee good faith review, and shall be treated the same
as all other General Unsecured Claims other than Convenience Claims; provided,
however, in no event shall the aggregate amount of the Allowed Vendor Financing
Claims exceed $57 million.

                  7.2. Other Loral Claims. The Claims of the Loral Entities
including any contract rejection claims, but excluding the Vendor Financing
Claims, shall be Allowed General Unsecured Claims in the aggregate amount of
$875 million. None of such Allowed Claims shall be subject to defenses such as
set-off, recoupment, equitable subordination, equitable recharacterization, or
any similar defenses, but such Allowed Claims shall be subject to reduction in
accordance with Articles 8 and 10 hereof.

                             ARTICLE 8 -- RELEASES

                  8.1. Release by the Globalstar Entities. Subject only to
Sections 8.4 and 9.4 hereof, effective upon the Closing Date, the Globalstar
Entities, on behalf of themselves, their officers, directors, agents, employees,
successors, assigns, and affiliates hereby fully and finally release, acquit and
forever discharge the Loral Entities and the GP Debtors, each of their
respective subsidiaries and affiliates (other than the Globalstar Entities), and
their respective Representatives, successors and assigns, from any and all past
and present, demands, obligations, actions, causes of action, rights or damages
with respect to the Debtors and the operation of their businesses (other than
(i) claims arising after the Closing Date under any Assumed Contract or defenses
arising under such Assumed Contract to any claim for cure under Section 365 of
the

                                       24
<PAGE>
Bankruptcy Code; (ii) claims for all sums due in connection with ordinary course
postpetition commercial transactions between any Loral Entity or GP Debtor or
one of their respective Representatives on the one hand and any Globalstar
Entity on the other hand; (iii) claims arising under this Settlement Agreement
and (iv) claims for indemnification covered by insurance policies to the extent
of such insurance coverage), under any legal theory, including without
limitation, under contract, tort, or otherwise, which they now have, may claim
to have or ever had, whether such claims are currently known, unknown, foreseen
or unforeseen, which any of such parties may now have or have ever had from the
beginning of time through and including the Approval Date, including, without
limitation, any and all claims arising under Chapter 5 of the Bankruptcy Code or
as defined in Section 101(5) of the Bankruptcy Code and Causes of Action,
Recovery Actions, derivative claims (including any claims that might be asserted
by the Creditors Committee), alter-ego claims, and recharacterization claims.

                  8.2. Release by the Loral Entities and GP Debtors. Subject
only to Sections 8.4 and 9.4 hereof, effective upon the Closing Date, the Loral
Entities and the GP Debtors, on behalf of themselves, their officers, directors,
agents, employees, successors, assigns, and affiliates, hereby fully and finally
release, acquit and forever discharge the Globalstar Entities, and their
respective Representatives, successors and assigns, from any and all past and
present claims, defaults, demands, obligations, actions, causes of action,
rights or damages with respect to the Debtors and the operation of their
businesses (other than (i) claims arising after the Closing Date under or for
cure under Section 365 of the Bankruptcy Code regarding any Assumed Contract;
(ii) claims for all sums due in connection with ordinary course postpetition
commercial transactions between any Loral Entity or GP Debtor on the one hand
and any Globalstar Entity on the other hand; (iii) claims arising under this
Settlement Agreement; and

                                       25
<PAGE>
(iv) claims for indemnification covered by insurance policies to the extent of
such insurance coverage), under any legal theory, including without limitation,
under contract, tort, or otherwise, which they now have, may claim to have or
ever had, whether such claims are currently known, unknown, foreseen or
unforeseen, which any of such parties may now have or have ever had, from the
beginning of time through and including the Approval Date, including, without
limitation, any and all claims arising under Chapter 5 of the Bankruptcy Code or
as defined in Section 101(5) of the Bankruptcy Code, derivative claims
(including those that may be asserted by shareholders) and alter ego claims.
Nothing in this Section 8.2 shall obligate any Person to participate in the
defense of any claim that is unreleased due to insurance coverage.

                  8.3. Covenant Not to Sue. Subject only to Sections 8.4 and 9.4
hereof, the Globalstar Entities and Loral Entities each hereby covenant and
agree that neither they nor any of their respective affiliates will hereafter
sue or seek to establish liability against any of the released parties based in
whole or in part upon any of the claims released in Sections 8.1 and 8.2 hereof.

                  8.4. Potential Revocation of Loral Release, etc. If (a) by the
Deadline (i) no Section 363 Sale has been approved and (ii) no Reorganization
Plan has been confirmed or (b) GLP's Reorganization Case is converted to one
under chapter 7, then GLP, the Creditors Committee, or a trustee on behalf of
GLP shall have the right, for a period of 120 days after the earlier of such
Deadline or conversion, to file a motion in the GLP Reorganization Case seeking
to revoke the Loral Release, subject to each of the following, with the effect
that any such revoked Loral Release and any reciprocal release shall be null and
void ab initio and of no force and effect:

                  (a) any such motion shall seek and be conditioned on the
         agreement to return to the Loral Entities all consideration and nullify
         any releases provided by the Loral Entities

                                       26
<PAGE>
         in connection with the Approval Order and to otherwise place the GP
         Debtors, the Loral Entities, GLP and the Creditors Committee in the
         same position they would have been in had the Approval Order not been
         entered (including, without limitation, undoing the reduction and
         allowance of Loral's claims, rescinding the releases in Sections 8.1
         and 8.2 hereof, and transferring back the eight Spare Satellites, the
         Loral Canadian Interest, the Replacement Note, the Russian Note, the
         2GHz Agreement refund, and the FCC Big Leo License and Strategic
         Agreement contract rights); provided, however, that such reinstatement
         obligation shall not include Loral's reinstatement of members of the
         Loral Designees onto the General Partners Committee (which
         reinstatement of the Loral Designees shall be within Loral's control to
         implement);

                  (b) the sole basis for granting the relief requested shall be
         that Loral materially breached the Cooperation Covenant during the
         Cooperation Period;

                  (c) GLP, the Creditors Committee or the chapter 7 trustee for
         GLP, as applicable, shall have the burden of proving any such material
         breach of the Cooperation Covenant;

                  (d) in such matter, no evidence of the Loral Entities' or
         Loral Designees' conduct prior to the Approval Date shall be
         admissible;

                  (e) it shall not be evidence of any breach of the Cooperation
         Covenant that during the Cooperation Period, the Loral Entities did any
         or any combination of the following: (i) met with potential investors
         in or bidders for the Debtors or their assets (including, without
         limitation, any discussion of Loral participating in or supporting any
         potential investor or bidder's proposal); (ii) rejected a request from
         any party to make concessions not provided for in this Settlement
         Agreement (except for requested concessions that are both noneconomic
         and not material to the Loral Entities); or (iii) participated in or

                                       27
<PAGE>
         supported a potential investor's proposal or plan with the Creditors
         Committee's prior consent;

                  (f) it shall be evidence of a breach of the Cooperation
         Covenant that during the Cooperation Period Loral participated in or
         otherwise endorsed (i) a potential investor's proposal without the
         Creditors Committee's prior consent or (ii) a GLP Plan as to which the
         Creditors Committee has filed a written objection to confirmation that
         has not been withdrawn; and

                  (g) consummation of (i) a Reorganization Plan or (ii) a
         Section 363 Sale (in each case, at any time, including after the
         Deadline) or the inability to return to any party any consideration or
         nullify any release that it provided pursuant to the Settlement
         Agreement (e.g., such as confirmation of a Plan for GLP that utilizes
         assets contributed by the Loral Entities) shall preclude any such
         motion to revoke the Loral Release.

                  8.5. Tolling Agreement. On or after the Approval Date and
subject to the occurrence of the Closing Date, if GLP and the Creditors
Committee so request, Loral shall enter into a tolling agreement, in a form
reasonably satisfactory to Loral, the Creditors Committee and GLP, pursuant to
which the statute of limitations with respect to any claims that GLP or its
estate may have as of the Approval Date against Loral and its affiliates
(excluding the GP Debtors) shall be extended through and including the earlier
of: (a) April 30, 2004; or (b) the date of the consummation of any transaction
contemplated by an order of the Bankruptcy Court approving a Section 363 Sale or
confirming a Reorganization Plan.

                  8.6. General Partners Committee Members. If the Loral Release
is delivered, then Messrs. Lundberg, Grierson and Towbin, in their capacities as
members of the General Partners Committee, shall receive releases on the same
terms and subject to the same conditions

                                       28
<PAGE>
as the Loral Release as well as subject to the additional condition subsequent
for each of Messrs. Lundberg, Grierson and Towbin that he not voluntarily resign
or be terminated for cause as a member of the General Partners Committee until
the Effective Date. 8.7. Reciprocity. Should a Person who is the beneficiary of
a release under this Settlement Agreement assert a claim relating to the Debtors
that has been released under this Settlement Agreement against any Person
providing a release under this Settlement Agreement, then such release with
respect to the Person asserting such claim shall be automatically revoked unless
and until the beneficiary's claim is withdrawn with prejudice.

                              ARTICLE 9 -- PROCESS

                  9.1. Rule 9019 Motions. The relief set forth in this
Settlement Agreement shall be sought by way of Rule 9019 Motions filed in the
respective chapter 11 cases of the GP Debtors and the Debtors. If either of
Sections 6.1 or 6.2 hereof concerning the Strategic Agreements and the Big Leo
License are not approved by the Bankruptcy Court in connection with the Rule
9019 Motions, then this settlement still may be approved and consummated, and
the Creditors Committee, GLP and Loral shall be obligated to use their
reasonable best efforts to seek the same relief, in connection with a Plan for
GLP, a Section 363 Sale, or a chapter 11 plan for the GP Debtors.

                  9.2. Substantive Consolidation Motion. If substantive problems
arise with obtaining the relief contemplated in Sections 6.1 and 6.2 hereof in
connection with the Plan and/or with the chapter 11 plan of the GP Debtors,
then, at Loral's request, GLP, the GP Debtors, the Creditors Committee, and
Loral shall use their reasonable best efforts to obtain substantive
consolidation of the GP Debtors with GLP unless such substantive consolidation
would have a material adverse impact on GLP or its creditors.

                                       29
<PAGE>
                  9.3. Alternative Arrangements. If either of Sections 6.1 or
6.2 hereof is not approved by the Bankruptcy Court in connection with the Rule
9019 Motions, a Plan, a plan for the GP Debtors, a Section 363 Sale, or a motion
for substantive consolidation of the GP Debtors and GLP, then the Creditors
Committee or GLP may require Loral to satisfy such elements by, as selected by
agreement of the Creditors Committee, GLP, and Loral (which agreement such
parties shall use their best efforts to reach), one of the following (so long as
the option chosen would provide GLP with the Benefits): (a) assignment to New
Globalstar of the Loral Entities' entire equity interest in LQP; (b) obtaining
dismissal of the chapter 11 cases of one or more of the GP Debtors as
appropriate and then a transfer of the Benefits to GLP or New Globalstar, as
applicable; (c) continuing to hold such license and/or agreements for the
benefit of GLP or New Globalstar, as applicable, to the same extent held today
for GLP; or (d) such other means as may be determined to be reasonably
satisfactory by GLP or New Globalstar, Loral and the Creditors Committee.

                  9.4. Release Revocation Motion.

                  9.4.1 Motion. If notwithstanding all of the above, the
Benefits have not been realized by GLP on or before the Deadline, then GLP, the
Creditors Committee, or a trustee on behalf of GLP shall have the right, for a
period of 120 days after such Deadline, to file a motion in the Reorganization
Case seeking to revoke the Loral Release, with the sole basis for granting the
relief requested being the failure of GLP to realize the Benefits prior to the
Deadline, and with the effect that any such revoked Loral Release and any
reciprocal release shall be null and void ab initio and of no force and effect.

                  9.4.2 Defenses. Notwithstanding the failure of Globalstar to
realize the Benefits before the Deadline, such revocation motion shall be denied
if: (a) such Benefits were in fact

                                       30
<PAGE>
received by GLP or New Globalstar; (b) such inability to realize the Benefits
was caused by (x) the inability to obtain any requisite FCC or other required
regulatory approvals; (y) the material breach by GLP or the Creditors Committee
of any of its respective obligations hereunder; or (z) the selection by the
Creditors Committee and/or GLP of one bidder despite the fact that another
qualifying bidder, whose bid is not materially less favorable to GLP as an
economic matter, would not have precluded GLP's ability to obtain the Benefits;
or (c) such motion is not conditioned on compliance with the terms of Section
8.4(a) hereof.

                  9.4.3 Process. In connection with any such release revocation
motion:

                  (a)      No evidence of the Loral Entities' or Loral
                           Designees' conduct prior to the Approval Date shall
                           be admissible;

                  (b)      GLP, the Creditors Committee or a chapter 7 trustee
                           for GLP, as applicable, shall have the burden of
                           making a prima facie case that GLP did not realize
                           the Benefits on or before the Deadline and if that
                           burden has been met, Loral shall have the burden of
                           proof to establish that GLP did receive such Benefits
                           or to establish any of the other defenses above that
                           would prevent revocation of the Loral Release
                           notwithstanding GLP's failure to realize such
                           Benefits; and

                  (c)      consummation of (i) a Reorganization Plan or (ii)
                           a Section 363 Sale (in each case, at any time,
                           including after the Deadline) or the inability to
                           return to any party any consideration or nullify any
                           release that it provided pursuant to the Rule 9019
                           settlement (e.g., such as confirmation of a
                           reorganization plan for GLP that utilizes assets
                           contributed by Loral) shall preclude any such motion
                           to revoke the Loral Release.

                                       31
<PAGE>
                  9.4.4 Further Assurances. Following the Closing Date, each of
the Parties will cooperate as another Party may reasonably request with all
applications for all regulatory approvals necessary or appropriate to effect the
consummation of the contemplated transactions.

                            ARTICLE 10 -- THE PLAN(S)

                  To the extent, if any, any of the following terms do not
result from the Rule 9019 Motions, any motion for substantive consolidation of
GLP and the GP Debtors, a Section 363 Sale, and/or a chapter 11 plan for the GP
Debtors, the Parties shall use their reasonable best efforts to develop and seek
confirmation of a Plan containing the following provisions and including no
other provisions in such Plan inconsistent with this Settlement Agreement:

                  10.1. GP Debtors Release. All claims against the GP Debtors
based solely on any such entity being a direct or indirect general partner of
the Debtors shall be released in exchange for LQP transferring to GLP LQP's
stock ownership interest in L/Q Licensee or authorizing the assignment by L/Q
Licensee of the FCC Big Leo license to GLP and such GP Debtors consenting to the
termination of the Strategic Agreements to the extent provided in this
Settlement Agreement or such other resolution of such issues permissible under
this Settlement Agreement.

                  10.2. New Globalstar Board Seats. The Creditors Committee of
GLP shall have the right to designate individuals to fill not less than four
seats on the board (or similar governance body) of New Globalstar. Loral shall
receive the right to designate an individual to fill one of those four board
seats. Notwithstanding the introductory paragraph of Article 10, solely as to
the first sentence of this Section 10.2, GLP's obligation shall be limited to
not taking any action to impair efforts to achieve the right to those four
seats. The good faith approval by the Creditors Committee of an investment or
sale proposal for GLP that would preclude such four seats on the board shall not
constitute a breach of this Settlement Agreement.

                                       32
<PAGE>
                  10.3. Vendor Financing Claims. The Vendor Financing Claims
allowed pursuant to Section 7.2 hereof shall be treated the same as all other
Allowed General Unsecured Claims (other than Convenience Claims).

                  10.4. Third Party Releases. The Loral Entities and their
Representatives and the General Partners Committee Members shall be the
beneficiaries of the broadest Third Party Releases available by law.

                  10.5. Loral Claims Other Than Vendor Financing Claims.

                  10.5.1 Reduction of Loral Claims Upon Full Third Party
Release. Provided that the Loral Entities' Allowed General Unsecured Claims are
treated the same as all other Allowed General Unsecured Claims (other than
Convenience Claims), when a Confirmation Order consistent with this Settlement
Agreement, and not containing terms otherwise materially adverse to Loral,
becomes a Final Order, the Loral Entities' Allowed General Unsecured Claims
(exclusive of the Vendor Financing Claims) shall be reduced by $437.5 million
(i.e., from $875 million to $437.5 million plus the Additional Amount), and the
consideration payable under the Plan in regard to the Loral Entities' remaining
Claims (i.e., $437.5 million) shall be reallocated among the parties (other than
the Loral Entities) bound by the Third Party Releases granted in favor of the
Loral Entities under the Plan.

                  10.5.2 Reduction of Loral Claims Upon Limited Third Party
Release. If the Loral Entities do not receive Third Party Releases that bind all
creditors and equity holders of the Debtors, then, instead of the Loral Entities
Allowed General Unsecured Claims being reduced from $875 million to $437.5
million plus the Additional Amount, the Loral Entities' Allowed General
Unsecured Claims shall be reduced to an Allowed General Unsecured Claim of $455
million plus the Additional Amount, and the distributions allocable to the
remainder of the Loral

                                       33
<PAGE>
Entities' Allowed General Unsecured Claims (i.e., $420 million) shall be
allocated among the creditors (other than the Loral Entities) who are bound by
the Third Party Releases.

                  10.5.3 GTL Warrants. To the extent, if any, warrants in New
Globalstar are to be issued under the Plan and distributed to holders of GTL
equity, such warrants shall be distributed to Loral or its designee (unless such
receipt materially would impact on confirmation of the Plan); provided, however,
that all such warrants must be distributed to GTL equity holders or surrendered
to New Globalstar.

                  10.6. Extension of Releases Pursuant to Plan. This Settlement
Agreement shall be ratified and the releases granted pursuant hereto, including
the Loral Release and the releases of the members of the General Partners
Committee, shall be extended to cover the period from the Approval Date through
the Confirmation Date.

                ARTICLE 11 -- CONDITIONS TO CLOSING; TERMINATION

                  11.1. Conditions to Closing. Except for Articles 11, 12, and
13 hereof, the obligations of the Parties hereunder are conditioned upon the
satisfaction of each of the following conditions, which conditions are for the
mutual benefit of the Parties:

                  11.1.1 As of the Closing Date, the Approval Order shall have
become a Final Order, unless such condition is waived in writing by Loral.
11.1.2 All requisite consents to the transactions contemplated by this
Settlement Agreement under credit agreements and indentures to which Loral or
any of its subsidiaries is a party shall have been duly obtained. Loral shall
seek any such consents as soon as practicable and update the other Parties from
time to time regarding the status of such consents.

                  11.2. Termination. This Settlement Agreement may be terminated
only as provided below:

                                       34
<PAGE>
                  11.2.1 GLP, the Creditors Committee and Loral may terminate
this Settlement Agreement by mutual written consent at any time prior to the
Closing Date.

                  11.2.2 Loral, GLP or the Creditors Committee may terminate
this Settlement Agreement at any time upon written notice to each other if the
Approval Date has not occurred by May 30, 2003.

                  11.3. Effect of Termination. In the event of the termination
of this Settlement Agreement pursuant Section 11.2 hereof, all obligations of
the Parties hereunder will terminate without any liability of any Party to any
other Party under this Settlement Agreement, and the Parties shall retain all
rights, remedies, defenses, obligations and liabilities existing as of the date
immediately prior to the execution of this Settlement Agreement.

                  ARTICLE 12 -- REPRESENTATIONS AND WARRANTIES

                  12.1. Legal Capacity to Contract. Subject to entry of the
Approval Order and, as to the GP Debtors, a corresponding order in their chapter
11 cases, each Party represents that it has the requisite power, authority and
legal capacity to make, execute, enter into and deliver this Settlement
Agreement and to fully perform its duties and obligations under this Settlement
Agreement, and that neither this Settlement Agreement nor the performance by the
Parties of any duty or obligation under this Settlement Agreement will violate
any other contract, contract amendment, supplement, agreement, covenant or
restriction by which such Party is bound.

                  12.2. No Prior Interests. Each Party represents that it has
not transferred or assigned to any third party any right, interest, claim,
obligation, or Cause of Action being transferred, conveyed, released or
compromised pursuant to this Settlement Agreement, and such Party shall
indemnify all other Parties from and against any third party claim asserting
such a transfer or assignment of any such right, interest, claim, obligation, or
Cause of Action.

                                       35
<PAGE>
                  12.3. No Admission of Liability. The execution of this
Settlement Agreement by any Party does not constitute, imply or evidence the
truth of any claim, the admission of any liability, the validity of any defense
or the existence of any circumstances or fact, which could constitute a basis
for any claim, liability or defense, other than the purpose of enforcing the
terms and provisions of this Settlement Agreement.

                  12.4. No Other Representations and Warranties. Each Party
agrees that no representations, warranties, or promises other than those set
forth in this Settlement Agreement were made by any Party or any employee, agent
or legal counsel of any Party to induce said Party to execute this Settlement
Agreement.

                  12.5. Loral Representations.

                  12.5.1 Operation of the Globalstar Satellite Constellation.
Loral represents that, to the best of its knowledge as of the date hereof, other
than as described in the Anomaly Investigation Final Report, dated May 7, 2002,
in the Memorandum, dated February 28, 2003, from Olof Lundberg to Akin Gump
Strauss Hauer & Feld LLP and in the Memorandum, dated April 8, 2003 from Olof
Lundberg to Akin Gump Strauss Hauer & Feld LLP, Loral is not aware of any facts,
conditions, or anomalies that would have a material adverse effect on the
operation of the Globalstar satellite constellation. The foregoing
representation shall not constitute a warranty as to the condition of the
Globalstar satellite constellation or otherwise and shall expire upon the
earlier of: (a) the consummation of a GLP Plan or a Section 363 Sale; or (b)
December 31, 2004.

                  12.5.2 Spare Satellites. SS/L represents that, to its
knowledge as of the date hereof, during the periods the Spare Satellites were in
SS/L's possession they were stored in a manner not materially less favorable to
GLP than the standards provided for in the Satellite

                                       36
<PAGE>
Contract. The foregoing representation shall not constitute a warranty as to the
condition or otherwise regarding the Spare Satellites and shall expire on the
Closing Date.

                           ARTICLE 13 -- MISCELLANEOUS

                  13.1. Independent Parties. The Globalstar Entities, the GP
Debtors and the Loral Entities are independent parties and nothing herein shall
make any of the Globalstar Entities, the GP Debtors, or the Loral Entities an
agent, partner or joint venturer of the other, except to the extent expressly
provided herein.

                  13.2. Successors. The provisions of this Settlement Agreement
shall be binding upon and inure to the benefit of the Parties and the respective
successors and assigns of each of the Parties, including, without limitation,
any trustee appointed in the Reorganization Cases as the representative of the
estates of the Debtors, or any other Representative of the Parties who qualifies
in a case under the Bankruptcy Code or in connection with any other state,
provincial, or federal proceeding. Without limiting the generality of the
foregoing, GLP may assign its rights and obligations under this Settlement
Agreement to New Globalstar, including pursuant to a Section 363 Sale or in
accordance with the terms of a Confirmation Order. The terms and conditions of
this Settlement Agreement shall survive:

                  (a)      the entry of any subsequent order converting all or
                           any of the Reorganization Cases from chapter 11 cases
                           under the Bankruptcy Code to chapter 7 cases under
                           the Bankruptcy Code;

                  (b)      the appointment of any trustee in all or any of the
                           Reorganization Case or in any ensuing chapter 7 cases
                           under the Bankruptcy Code;

                  (c)      the confirmation of a Plan under the Bankruptcy Code
                           in all or any of the Reorganization Cases;

                  (d)      the dismissal of all or any of the Reorganization
                           Cases or entry of an order withdrawing the reference
                           of all or any of the Reorganization Cases from the
                           Bankruptcy Court; or

                                       37
<PAGE>
                  (e)      an order from the Bankruptcy Court abstaining from
                           handling all or any of the Reorganization Cases.

                  13.3. Notice. All notices and communications concerning this
Settlement Agreement shall be in writing, be effective upon receipt, and
addressed to the parties hereto as follows:

            If to the Creditors Committee:

            Daniel H. Golden, Esq.
            Stephen B. Kuhn, Esq.
            Akin Gump Strauss Hauer & Feld LLP
            590 Madison Avenue
            New York, NY 10022-2524

            If to any Globalstar Entity:

            William Adler, Esq.
            Globalstar, L.P.
            3200 Zanker Road
            San Jose, CA 95134

            With a copy to:

            Paul D. Leake, Esq.
            Jones Day Reavis & Pogue
            222 East 41st Street
            New York, New York 10017

            If to any Loral Entity:

            c/o Russell Mack
            Loral Space & Communications Ltd.
            600 Third Avenue
            New York, New York 10016

            With a copy to:

            Avi Katz, Esq.
            Vice President, General Counsel and Secretary
            Loral Space & Communications Ltd.

                                       38
<PAGE>
            600 Third Avenue
            New York, New York 10016

            Alan J. Lipkin, Esq.
            Willkie Farr & Gallagher
            787 Seventh Avenue
            New York, New York 10019

            If to any GP Debtor:

            Avi Katz, Esq.
            Vice President, General Counsel and Secretary
            Loral Space & Communications Ltd.
            600 Third Avenue
            New York, New York 10016

            With a copy to:

            David Stratton, Esq.
            Pepper Hamilton
            1201 Market Street
            Suite 1600
            Wilmington, DE 19801

or at such other address as may be designated in writing to the Parties hereto.

                  13.4. Governing Law. This Settlement Agreement and the rights
and duties of the Parties arising hereunder shall be governed by, and construed,
enforced and performed in accordance with, the laws of the State of New York,
without giving effect to principles of conflicts of laws that would require the
application of the law of any other jurisdiction. Notwithstanding anything to
the contrary, however, any Assumed Agreements shall continue to be governed by
the laws of the jurisdiction as set forth in the "Choice of Law" provisions in
each of such agreements.

                                       39
<PAGE>
                  13.5. Retention of Jurisdiction. The parties agree that,
during the period from the date hereof until the date on which the Debtors'
Reorganization Cases are closed or dismissed (the "Bankruptcy Period"), the
Bankruptcy Court shall have exclusive jurisdiction to resolve any controversy,
claim or dispute arising out of or relating to this Settlement Agreement or any
other agreement entered into in connection herewith, or the breach hereof or
thereof. The parties further agree that, following the Bankruptcy Period, any
action or proceeding with respect to such controversy, claim or dispute may be
brought against any of the parties exclusively in the United States District
Court for the Southern District of New York, and each of the parties hereby
consents to the personal jurisdiction of such court and the Bankruptcy Court
(and to the appropriate appellate courts) in any such action or proceeding and
waives any objection, including, without limitation, any objection to the laying
of venue or on the grounds of forum non conveniens, which any of them may now or
hereafter have to the bringing of such action or proceeding in such respective
jurisdictions. Each party hereby irrevocably consents to the service of process
of any of the aforesaid courts in any such action or proceeding by the mailing
of copies thereof by registered or certified mail, postage prepaid, to the other
parties to such action or proceeding. Each party acknowledges and agrees that
any controversy which may arise under this Settlement Agreement is likely to
involve complicated and difficult issues, and therefore each party hereby
irrevocably and unconditionally waives any right such party may have to a trial
by jury.

                  13.6. Entire Agreement; Amendments; Joint Work Product. This
Settlement Agreement constitute the complete agreement between the Parties
related to the subject matter hereof, and supersede any prior or contemporaneous
agreements or representations affecting the same subject matter, including,
without limitation, the Settlement Term Sheet, dated as of March

                                       40
<PAGE>
14, 2003. No amendment, modification or change to this Settlement Agreement
shall be enforceable unless it: (a) is reduced to a writing that is executed by
the Parties against whom such amendment, modification or change is sought to be
enforced; and (b) specifically references this Settlement Agreement. This
Settlement Agreement is the joint work product of the Parties and has been
negotiated by the Parties and their respective counsel and shall be fairly
interpreted in accordance with its terms and, in the event of any ambiguities,
no inferences shall be drawn against any Party. The Parties will execute and
deliver such further agreements and other documents, seek the entry of such
court orders, and take such other actions as any of the other Parties may
reasonably request or as may be necessary or appropriate to consummate or
implement the terms of this Settlement Agreement or to evidence such events or
matters.

                  13.7. Counterparts. This Settlement Agreement may be executed
simultaneously in any number of counterparts, each of which when so executed and
delivered shall be taken to be an original, but such counterparts shall together
constitute but one and the same document.

                  13.8. Facsimile Delivery. This Settlement Agreement may be
delivered by facsimile transmission of an executed counterpart signature page
hereof, and after attachment of such transmitted signature page to a copy of
this Settlement Agreement, such copy shall have the same effect and evidentiary
value as copies delivered with original signatures. Any Party delivering this
Settlement Agreement by facsimile transmission shall deliver to the other
Parties, as soon as practicable after such delivery, an original executed
counterpart signature page of this Settlement Agreement.

                  13.9. Expedited Approval. Each of the Parties agrees to use
its reasonable best efforts to obtain entry of the Approval Order on or before
April 10, 2003.

                                       41
<PAGE>
                  IN WITNESS WHEREOF, the Debtors, the Creditors Committee and
the Loral Entities listed below have executed this Settlement Agreement
effective as of April 8, 2003.
Dated: April 8, 2003

OFFICIAL COMMITTEE OF UNSECURED CREDITORS

By: /s/ Van Greenfield
   ------------------------------

Name:   Van Greenfield
     ----------------------------

Title:  Chair
      ---------------------------

GLOBALSTAR, L.P.

By: /s/ Anthony J. Navarra
   ------------------------------

Name:   Anthony J. Navarra
   ------------------------------

Title:  President
   ------------------------------

GLOBALSTAR CAPITAL CORPORATION

By: /s/ Anthony J. Navarra
   ------------------------------

Name:   Anthony J. Navarra
   ------------------------------

Title:  President
   ------------------------------

GLOBALSTAR SERVICES COMPANY

By: /s/ Anthony J. Navarra
   ------------------------------

Name:   Anthony J. Navarra
   ------------------------------

Title:  President
   ------------------------------

GLOBALSTAR, L.L.C.

By: /s/ Anthony J. Navarra
   ------------------------------

Name:   Anthony J. Navarra
   ------------------------------

Title:  President
   ------------------------------

GLOBALSTAR USA, L.L.C.

By:  /s/ William F. Adler
   ------------------------------

Name:    William F. Adler
   ------------------------------

Title:   Director
   ------------------------------

                                       42
<PAGE>
LORAL SPACE & COMMUNICATIONS LTD.

By: /s/ Eric J. Zahler
   ------------------------------
Name: Eric J. Zahler
Title: President and COO

SPACE SYSTEMS/LORAL, INC.

By: /s/ Eric J. Zahler
   ------------------------------
Name: Eric J. Zahler
Title: President and COO

LORAL/QUALCOMM PARTNERSHIP, L.P.

By: /s/ Eric J. Zahler
   ------------------------------
Name: Eric J. Zahler
Title: President and COO

LORAL GENERAL PARTNER, INC.

By: /s/ Eric J. Zahler
   ------------------------------
Name: Eric J. Zahler
Title: President and COO

LORAL SPACE & COMMUNICATION CORPORATION

By: /s/ Eric J. Zahler
   ------------------------------
Name: Eric J. Zahler
Title: President and COO

LORAL/DASA GLOBALSTAR, L.P.

By: /s/ Eric J. Zahler
   ------------------------------
Name: Eric J. Zahler
Title: President and COO

                                       43
<PAGE>
LORAL SPACECOM CORPORATION

By: /s/ Eric J. Zahler
   ------------------------------
Name: Eric J. Zahler
Title: President and COO

LORAL SATELLITE, INC.

By: /s/ Eric J. Zahler
   ------------------------------
Name: Eric J. Zahler
Title: President and COO

LORAL CYBERSTAR INTERNATIONAL, INC.

By: /s/ Eric J. Zahler
   ------------------------------
Name: Eric J. Zahler
Title: President and COO

                                       44
<PAGE>
                          SCHEDULE 1.46 - LORAL CLAIMS

FILED LIQUIDATED CLAIMS

<TABLE>
<S>                                               <C>
Loral Space and Communications Ltd.                 $59,112,191
Loral Space & Communications                       $207,023,640
Corporation
Loral Satellite, Inc.                              $557,593,848
Space Systems/Loral, Inc.                           $97,167,475
Loral/DASA Globalstar, L.P.                            $800,000
Loral Cyberstar International, Inc.                     $78,930
                                                   ------------
      SUBTOTAL                                     $921,776,074
LESS: MAXIMUM AMOUNT OF
VENDOR FINANCING CLAIMS                            $(57,000,000)
                                                   ------------
                                                   $864,776,074
</TABLE>

NOTE:  THE AGGREGATE AMOUNT OF ALLOWED LORAL CLAIMS (INCLUDING
       UNLIQUIDATED AND REJECTION CLAIMS) UNDER THE SETTLEMENT AGREEMENT
       IS $875 MILLION, SUBJECT TO REDUCTION.

                                       45
<PAGE>
                                  SCHEDULE 7.1
                             VENDOR FINANCING CLAIMS
                                    (IN USD)

<TABLE>
<S>                                             <C>
                   Alcatel Cannes                5,016,381
                   Alcatel Toulouse             24,834,508
                   DASA                         20,488,334
                   Alenia                        2,073,993
                   TOTAL                        52,413,216
</TABLE>

                                       46<PAGE>

                                                                    Exhibit 4(o)

                               DTE ENERGY COMPANY
                                       AND
                              THE BANK OF NEW YORK
                                     TRUSTEE

                            -------------------------

                             SUPPLEMENTAL INDENTURE
                            DATED AS OF APRIL 1, 2003

                            -------------------------

                SUPPLEMENTING THE AMENDED AND RESTATED INDENTURE
                            DATED AS OF APRIL 9, 2001

                                  PROVIDING FOR

                  2003 SERIES A 6 3/8% SENIOR NOTES DUE 2033

<PAGE>

         SUPPLEMENTAL INDENTURE, dated as of the 1st day of April, 2003, between
DTE ENERGY COMPANY, a corporation organized and existing under the laws of the
State of Michigan (the "Company"), and THE BANK OF NEW YORK, a New York banking
corporation, having its principal office in The City of New York, New York, as
trustee (the "Trustee");

         WHEREAS, the Company has heretofore executed and delivered to the
Trustee an Amended and Restated Indenture, dated as of April 9, 2001 (the
"Original Indenture"), as amended, supplemented or modified (as so amended,
supplemented or modified, the "Indenture") providing for the issuance by the
Company from time to time of its debt securities; and

         WHEREAS, the Company now desires to provide for the issuance of a
series of its unsecured, senior debt securities pursuant to the Original
Indenture; and

         WHEREAS, the Company, in the exercise of the power and authority
conferred upon and reserved to it under the provisions of the Original
Indenture, including Section 901 thereof, and pursuant to appropriate
resolutions of the Board of Directors, has duly determined to make, execute and
deliver to the Trustee this Supplemental Indenture to the Original Indenture as
permitted by Section 201 and Section 301 of the Original Indenture in order to
establish the form or terms of, and to provide for the creation and issue of, a
series of its debt securities under the Original Indenture, which shall be known
as the "2003 Series A 6 3/8% Senior Notes due 2033"; and

         WHEREAS, all things necessary to make such debt securities, when
executed by the Company and authenticated and delivered by the Trustee or any
Authenticating Agent and issued upon the terms and subject to the conditions
hereinafter and in the Original Indenture set forth against payment therefor,
the valid, binding and legal obligations of the Company and to make this
Supplemental Indenture a valid, binding and legal agreement of the Company, have
been done;

         NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH that, in order
to establish the terms of a series of debt securities, and for and in
consideration of the premises and of the covenants contained in the Original
Indenture and in this Supplemental Indenture and for other good and valuable
consideration the receipt and sufficiency of which are hereby acknowledged, it
is mutually covenanted and agreed as follows:

                                  ARTICLE ONE

                              DEFINITIONS AND OTHER
                        PROVISIONS OF GENERAL APPLICATION

         SECTION 101.      Definitions. Each capitalized term that is used
herein and is defined in the Original Indenture shall have the meaning specified
in the Original Indenture unless such term is otherwise defined herein. The
following terms shall have the respective meanings set forth below:

<PAGE>

         "Business Day" means any day other than a Saturday or Sunday or a day
on which commercial banks in The City of New York are required or authorized by
law or executive order to be closed.

         SECTION 102.      Section References. Each reference to a particular
section set forth in this Supplemental Indenture shall, unless the context
otherwise requires, refer to this Supplemental Indenture.

                                  ARTICLE TWO

                        TITLE AND TERMS OF THE SECURITIES

         SECTION 201.      Title of the Securities; Stated Maturity. This
Supplemental Indenture hereby establishes a series of Securities, which shall be
known as the Company's "2003 Series A 6 3/8% Senior Notes due 2033" (the
"Notes"). The Stated Maturity on which the principal of the Notes shall be due
and payable will be April 15, 2033.

         SECTION 202.      Rank. The Notes shall rank equally with all other
unsecured and unsubordinated indebtedness of the Company from time to time
outstanding.

         SECTION 203.      Variations from the Original Indenture. Section 1009
of the Original Indenture shall be applicable to the Notes. Section 403(2) and
Section 403(3) shall be applicable to the Notes; the Company's obligations under
Section 1009, without limitation, shall be subject to defeasance in accordance
with Section 403(3).

         SECTION 204.      Amount and Denominations; DTC. (a) The aggregate
principal amount of the Notes that may be issued under this Supplemental
Indenture is limited initially to $400,000,000 (except as provided in Section
301(2) of the Original Indenture); provided that the Company may, without the
consent of the Holders of the Outstanding Notes, "reopen" the Notes so as to
increase the aggregate principal amount of the Notes Outstanding in compliance
with the procedures set forth in the Original Indenture, including Section 301
and Section 303 thereof, so long as any such additional Notes have the same
tenor and terms (including, without limitation, rights to receive accrued and
unpaid interest) as the Notes then Outstanding. No additional Notes may be
issued if an Event of Default has occurred. The Notes shall be issuable only in
fully registered form and, as permitted by Section 301 and Section 302 of the
Original Indenture, in denominations of $1,000 and integral multiples thereof.
The Notes will initially be issued in global form (the "Global Notes") under a
book-entry system, registered in the name of The Depository Trust Company, as
depository ("DTC"), or its nominee, which is hereby designated as "Depositary"
under the Indenture.

         (b)      Further to Section 305 of the Original Indenture, any Global
Note shall be exchangeable for Notes registered in the name of, and a transfer
of a Global Note may be registered to, any Person other than the Depositary for
such Note or its nominee only if (i) such Depositary notifies the Company that
it is unwilling or unable to continue as Depositary for such Global Note or if
at any time such Depositary ceases to be a clearing agency registered under the
Exchange Act, and, in either such case, the Company does not appoint a successor
Depositary within 90 days thereafter, (ii) the Company executes and delivers to
the Trustee a Company

                                       2

<PAGE>

Order that such Global Note shall be so exchangeable and the transfer thereof so
registrable or (iii) there shall have occurred and be continuing an Event of
Default or an event which, with the giving of notice or lapse of time, or both,
would constitute an Event of Default with respect to the Notes. Upon the
occurrence in respect of a Global Note of any or more of the conditions
specified in clause (i), (ii) or (iii) of the preceding sentence, such Global
Note may be exchanged for Notes registered in the name of, and the transfer of
such Global Note may be registered to, such Persons (including Persons other
than the Depositary and its nominees) as such Depositary, in the case of an
exchange, and the Company, in the case of a transfer, shall direct.

SECTION 205.      Terms of the Notes.

         (a)      The Notes shall bear interest at the rate of 6 3/8% per annum
on the principal amount thereof from April 15, 2003, or from the most recent
Interest Payment Date to which interest has been paid or duly provided for,
until the principal of the Notes becomes due and payable, and on any overdue
principal and premium and (to the extent that payment of such interest is
enforceable under applicable law) on any overdue installment of interest at the
same rate per annum during such overdue period. Interest on the Notes will be
payable semiannually in arrears on April 15 and October 15 of each year (each
such date, an "Interest Payment Date"), commencing October 15, 2003. The amount
of interest payable for any period shall be computed on the basis of twelve
30-day months and a 360-day year.

         (b)      In the event that any Interest Payment Date, redemption date
or other date of Maturity of the Notes is not a Business Day, then payment of
the amount payable on such date will be made on the next succeeding day which is
a Business Day (and without any interest or other payment in respect of any such
delay), in each case with the same force and effect as if made on such date. The
interest installment so payable, and punctually paid or duly provided for, on
any Interest Payment Date with respect to any Note will, as provided in the
Original Indenture, be paid to the person in whose name the Note (or one or more
Predecessor Securities, as defined in said Indenture) is registered at the close
of business on the relevant record date for such interest installment, which
shall be the fifteenth calendar day (whether or not a Business Day) prior to the
relevant Interest Payment Date (the "Regular Record Date"). Any such interest
installment not punctually paid or duly provided for shall forthwith cease to be
payable to the registered Holders on such Regular Record Date, and may either be
paid to the person in whose name the Note (or one or more Predecessor
Securities) is registered at the close of business on a Special Record Date to
be fixed by the Trustee for the payment of such defaulted interest, notice
whereof shall be given to the registered Holders of the Notes not less than ten
days prior to such Special Record Date, or may be paid at any time in any other
lawful manner not inconsistent with the requirements of any securities exchange
on which the Notes may be listed, and upon such notice as may be required by
such exchange, all as more fully provided in the Original Indenture. The
principal of, and premium, if any, and the interest on the Notes shall be
payable at the office or agency of the Company maintained for that purpose in
the Borough of Manhattan, The City of New York, in any coin or currency of the
United States of America which at the time of payment is legal tender for
payment of public and private debts; provided, however, that payment of interest
may be made at the option of the Company by check mailed to the registered
Holder at the close of business on the Regular Record Date at such address as
shall appear in the Security Register.

                                       3

<PAGE>

         (c)      The Notes are not subject to repayment at the option of the
Holders thereof and are not subject to any sinking fund. As provided in the form
of Note attached hereto as Exhibit A, the Notes are subject to optional
redemption, as a whole or in part, by the Company prior to Stated Maturity of
the principal thereof on the terms set forth therein. Except as modified in the
form of the Note, redemption shall be effected in accordance with Article Eleven
of the Original Indenture.

         (d)      The Notes shall have such other terms and provisions as are
set forth in the form of Note attached hereto as Exhibit A (which is
incorporated by reference in and made a part of this Supplemental Indenture as
if set forth in full at this place).

         SECTION 206.      Form of Notes.  Attached hereto as Exhibit A is the
form of the Notes.

                                 ARTICLE THREE

                            MISCELLANEOUS PROVISIONS

         The Trustee makes no undertaking or representations in respect of, and
shall not be responsible in any manner whatsoever for and in respect of, the
validity or sufficiency of this Supplemental Indenture or the proper
authorization or the due execution hereof by the Company or for or in respect of
the recitals and statements contained herein, all of which recitals and
statements are made solely by the Company.

         Except as expressly amended hereby, the Original Indenture shall
continue in full force and effect in accordance with the provisions thereof and
the Original Indenture is in all respects hereby ratified and confirmed. This
Supplemental Indenture and all its provisions shall be deemed a part of the
Original Indenture in the manner and to the extent herein and therein provided.

         This Supplemental Indenture shall be governed by, and construed in
accordance with, the laws of the State of New York.

         This Supplemental Indenture may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but
all such counterparts shall together constitute but one and the same instrument.

                                       4

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture to be duly executed, all as of the day and year first above written.

                                        DTE ENERGY COMPANY

                                        By: /s/N. A. Khouri
                                            Name: N.A. Khouri
                                            Title: Vice President and Treasurer

ATTEST:

By: /s/Teresa M. Sebastian

                                        THE BANK OF NEW YORK

                                        By: /s/Paul Schmalzel
                                            Name: Paul Schmalzel
                                            Title: Vice President

                                       5

<PAGE>

                                                                       EXHIBIT A

                                  FORM OF NOTE

THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A
DEPOSITARY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITORY TRUST COMPANY ("DTC"), TO A NOMINEE OF DTC OR BY DTC OR ANY SUCH
NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH SUCCESSOR. UNLESS THIS NOTE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO., OR IN SUCH OTHER NAME AS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO.,
OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS
WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

CUSIP NO.: 233331 AJ 6                                $400,000,000
NO. R--1

                               DTE ENERGY COMPANY
                   2003 SERIES A 6 3/8% SENIOR NOTES DUE 2033

         DTE ENERGY COMPANY, a corporation duly organized and existing under the
laws of the State of Michigan (herein referred to as the "Company", which term
includes any successor Person under the Indenture hereinafter referred to), for
value received, hereby promises to pay to CEDE & CO., or registered assigns, the
principal sum of $400,000,000 on April 15, 2033 ("Stated Maturity" with respect
to the principal of this Note), unless previously redeemed, and to pay interest
at the rate of 6 3/8% per annum on said principal sum from April 1 2003, or from
the most recent Interest Payment Date to which interest has been paid or duly
provided for, until the principal of this Note becomes due and payable, and on
any overdue principal and premium and (to the extent that payment of such
interest is enforceable under applicable law) on any overdue installment of
interest at the same rate per annum during such overdue period. Interest on this
Note will be payable semiannually in arrears on April 15 and October 15 of each
year (each such date, an "Interest Payment Date"), commencing October 15, 2003.
The amount of interest payable for any period shall be computed on the basis of
twelve 30-day months and a 360-day year.

         In the event that any Interest Payment Date, redemption date or other
date of Maturity of the Notes is not a Business Day, then payment of the amount
payable on such date will be made on the next succeeding day which is a Business
Day (and without any interest or other payment in respect of any such delay), in
each case with the same force and effect as if made on such date. A "Business
Day" means any day other than a Saturday or Sunday or a day on which

                                      A-1

<PAGE>

commercial banks in The City of New York are required or authorized by law or
executive order to be closed. The interest installment so payable, and
punctually paid or duly provided for, on any Interest Payment Date with respect
to this Note will, as provided in the Indenture, be paid to the person in whose
name this Note is registered at the close of business on the relevant record
date for such interest installment, which shall be the fifteenth calendar day
(whether or not a Business Day) prior to the relevant Interest Payment Date (the
"Regular Record Date"). Any such interest installment not punctually paid or
duly provided for shall forthwith cease to be payable to the registered Holders
on such Regular Record Date, and may either be paid to the person in whose name
this Note is registered at the close of business on a Special Record Date to be
fixed by the Trustee for the payment of such defaulted interest, notice whereof
shall be given to the registered Holders of the Notes not less than ten days
prior to such Special Record Date, or may be paid at any time in any other
lawful manner not inconsistent with the requirements of any securities exchange
on which the Notes may be listed, and upon such notice as may be required by
such exchange, all as more fully provided in the Indenture. The principal of,
and premium, if any, and the interest on the Notes shall be payable at the
office or agency of the Company maintained for that purpose in the Borough of
Manhattan, The City of New York, in any coin or currency of the United States of
America which at the time of payment is legal tender for payment of public and
private debts; provided, however, that payment of interest may be made at the
option of the Company by check mailed to the registered Holder at the close of
business on the Regular Record Date at such address as shall appear in the
Security Register. Notwithstanding anything else contained herein, if this Note
is a Global Note and is held in book-entry form through the facilities of the
Depositary, payments on this Note will be made to the Depositary or its nominee
in accordance with arrangements then in effect between the Trustee and the
Depositary.

         This Note is one of a duly authorized series of Securities of the
Company, designated as the "2003 Series A 6 3/8% Senior Notes due 2033" (the
"Notes"), initially limited to an aggregate principal amount of $400,000,000
(except for Notes authenticated and delivered upon transfer of, or in exchange
for, or in lieu of other Notes, and except as further provided in the
Indenture), all issued or to be issued under and pursuant to an Amended and
Restated Indenture, dated as of April 9, 2001, as supplemented by two
supplemental indentures thereto, including the Seventh Supplemental Indenture
dated as of April 1, 2003 (together, as amended, supplemented or modified, the
"Indenture"), duly executed and delivered between the Company and The Bank of
New York, a New York banking corporation, as Trustee (herein referred to as the
"Trustee", which term includes any successor trustee under the Indenture), to
which Indenture reference is hereby made for a description of the respective
rights, limitations of rights, obligations, duties and immunities thereunder of
the Trustee, the Company and the registered Holders of the Notes and of the
terms upon which the Notes are, and are to be, authenticated and delivered.

         This Note is not subject to repayment at the option of the Holder
hereof. This Note is not subject to any sinking fund.

         This Note will be redeemable at the option of the Company, in whole at
any time or in part from time to time (any such date of optional redemption, an
"Optional Redemption Date," which shall be a "Redemption Date" for purposes of
the Indenture), at an optional redemption price (which shall be a "Redemption
Price" for purposes of the Indenture) equal to the greater of (i) 100% of the
principal amount of this Note to be redeemed and (ii) the sum of the present

                                      A-2

<PAGE>

values of the principal amount of this Note to be redeemed and the remaining
scheduled payments of interest on the principal amount of this Note to be
redeemed (exclusive of interest accrued to the related Optional Redemption Date)
until Stated Maturity, in each case discounted from their respective scheduled
payment dates to such Optional Redemption Date on a semiannual basis (assuming a
360-day year consisting of 30-day months) at the Adjusted Treasury Rate (as
defined below) plus 20 basis points, plus in either case, accrued interest
thereon to the date of redemption.

         "Adjusted Treasury Rate" means, with respect to any Optional Redemption
Date, the rate per annum equal to the semiannual equivalent yield to maturity of
the Comparable Treasury Issue, calculated on the third Business Day preceding
such Optional Redemption Date, using a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such Optional Redemption Date.

         "Comparable Treasury Issue" means the United States Treasury security
determined by the Reference Treasury Dealer as having a maturity comparable to
the remaining term of this Note that would be utilized, at the time of selection
and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity with the remaining term of this
Note.

         "Comparable Treasury Price" means, with respect to any Optional
Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for
such Optional Redemption Date, after excluding the highest and lowest such
Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than
three such Reference Treasury Dealer Quotations, the average of all such
quotations, or (iii) if only one Reference Treasury Dealer Quotation is
received, such quotation.

         "Reference Treasury Dealer" means each of: (i) Barclays Capital Inc.
and Salomon Smith Barney Inc. and (or their respective affiliates which are
Primary Treasury Dealers), and their respective successors; provided, however,
that if any of the foregoing cease to be a primary U.S. Government securities
dealer in The City of New York (a "Primary Treasury Dealer"), the Company shall
substitute therefor another Primary Treasury Dealer; and (ii) any other Primary
Treasury Dealer(s) selected by the Trustee after consultation with the Company.

         "Reference Treasury Dealer Quotation" means, with respect to each
Reference Treasury Dealer and any Optional Redemption Date, the average, as
determined by the Trustee, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m.,
New York City time, on the third Business Day preceding such Optional Redemption
Date.

         Notice of any optional redemption will be mailed at least 30 days but
not more than 60 days before the Optional Redemption Date to the Holder hereof
at its registered address.

         Unless the Company defaults in payment of the applicable Redemption
Price, on and after the applicable Redemption Date interest will cease to accrue
on the principal amount of this Note called for redemption.

                                      A-3

<PAGE>

         If money sufficient to pay the applicable Redemption Price with respect
to the principal amount of and accrued interest on the principal amount of this
Note to be redeemed on the applicable Redemption Date is deposited with the
Trustee or Paying Agent on or before the related Redemption Date and certain
other conditions are satisfied, then on or after such Redemption Date, interest
will cease to accrue on the principal amount of this Note called for redemption.
If the Notes are only partially redeemed by the Company, the Trustee shall
select which Notes are to be redeemed by lot or in a manner it deems fair and
appropriate in accordance with the terms of the Indenture.

         In the event of redemption of this Note in part only, a new Note or
Notes for the unredeemed portion hereof will be issued in the name of the
registered Holder hereof upon the cancellation hereof.

         In case an Event of Default, as defined in the Indenture, shall have
occurred and be continuing, the principal hereof may be declared, and upon such
declaration shall become, due and payable, in the manner, with the effect and
subject to the conditions provided in the Indenture.

         The Indenture contains provisions for defeasance at any time of the
entire indebtedness of this Note upon compliance by the Company with certain
conditions set forth therein.

         The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Notes under the Indenture at any
time by the Company and the Trustee with the consent of the Holders of a
majority of the aggregate principal amount of all Notes issued under the
Indenture at the time outstanding and affected thereby; provided, however, that
no such amendment shall without the consent of the Holder of each Note so
affected, among other things (i) change the stated maturity of the principal of,
or any installment of principal of or interest on any Notes, or reduce the
principal amount thereof, or reduce the rate of interest thereon, or reduce any
premium payable upon the redemption thereof or (ii) reduce the percentage of
Notes, the Holders of which are required to consent to any amendment or waiver
or for certain other matters as set forth in the Indenture. The Indenture also
contains provisions permitting (i) the registered Holders of 66 2/3% in
aggregate principal amount of the Securities at the time outstanding affected
thereby, on behalf of the registered Holders of the Securities, to waive
compliance by the Company with certain provisions of the Indenture and (ii) the
registered Holders of not less than a majority in aggregate principal amount of
the Securities at the time outstanding affected thereby, on behalf of the
registered Holders of the Securities, to waive certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the registered
Holder of this Note (unless revoked as provided in the Indenture) shall be
conclusive and binding upon such registered Holder and upon all future
registered Holders and owners of this Note and of any Note issued in exchange
hereof or in place hereof (whether by registration of transfer or otherwise),
irrespective of whether or not any notation of such consent or waiver is made
upon this Note.

         No reference herein to the Indenture and no provision of this Note or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay

                                      A-4

<PAGE>

the principal of and premium, if any, and interest on this Note at the time and
place and at the rate and in the coin or currency herein prescribed.

         As provided in the Indenture and subject to certain limitations therein
set forth, the transfer of this Note is registrable in the Security Register of
the Company, upon surrender of this Note for registration of transfer at the
office or agency of the Company in any place where the principal of and any
interest on this Note are payable or at such other offices or agencies as the
Company may designate, duly endorsed by or accompanied by a written instrument
or instruments of transfer in form satisfactory to the Company and the Security
Registrar or any transfer agent duly executed by the registered Holder hereof or
his or her attorney duly authorized in writing, and thereupon one or more new
Notes of this series and of like tenor, of authorized denominations and for the
same aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be made for any such transfer, but the
Company may require payment of a sum sufficient to cover any tax or other
governmental charge payable in relation thereto.

         Prior to due presentment for registration of transfer of this Note, the
Company, the Trustee, any paying agent and any Security Registrar may deem and
treat the registered Holder hereof as the absolute owner hereof (whether or not
this Note shall be overdue and notwithstanding any notice of ownership or
writing hereon made by anyone other than the Security Registrar) for the purpose
of receiving payment of or on account of the principal hereof and interest due
hereon and for all other purposes, and neither the Company nor the Trustee nor
any paying agent nor any Security Registrar shall be affected by any notice to
the contrary.

         The Notes are issuable only in fully registered form without coupons in
denominations of $1,000 and any integral multiple thereof. This Global Note is
exchangeable for Notes in definitive form only under certain limited
circumstances set forth in the Indenture. The Notes so issued are issuable only
in registered form without coupons in denominations of $1,000 and any integral
multiple thereof. As provided in the Indenture and subject to certain
limitations therein set forth, the Notes are exchangeable for a like aggregate
principal amount of the Notes of a different authorized denomination, as
requested by the registered Holder surrendering the same.

         As set forth in, and subject to the provisions of, the Indenture, no
registered owner of any Note will have any right to institute any proceeding
with respect to the Indenture or for any remedy thereunder, unless (i) such
registered owner shall have previously given to the Trustee written notice of a
continuing Event of Default with respect to the Notes, (ii) the registered
owners of not less than 25% in principal amount of the outstanding Notes shall
have made written request, and offered reasonable indemnity, to the Trustee to
institute such proceeding as trustee, (iii) the Trustee shall have failed to
institute such proceeding within 60 days and (iv) the Trustee shall not have
received from the registered owners of a majority in principal amount of the
outstanding Notes a direction inconsistent with such request within such 60-day
period; provided, however, that such limitations do not apply to a suit
instituted by the registered owner hereof for the enforcement of payment of the
principal of or premium, if any, or any interest on this Note on or after the
respective due dates expressed herein.

                                      A-5

<PAGE>

         Unless the Certificate of Authentication hereon has been executed by
the Trustee or a duly appointed Authentication Agent referred to herein, this
Note shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

         The Indenture and this Note shall be governed by and construed in
accordance with the laws of the State of New York.

         All terms used in this Note which are defined in the Indenture shall
have the meanings assigned to them in the Indenture.

                                      A-6

<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Instrument to be duly
executed.

                               DTE ENERGY COMPANY

                                        By: _________________________________
                                            N. A. Khouri
                                            Vice President and Treasurer

Date: April 1, 2003

Attest:

By: _________________________________
    Teresa M. Sebastian
    Assistant Corporate Secretary

                                      A-7

<PAGE>

                          CERTIFICATE OF AUTHENTICATION

      This is one of the Notes described in the within mentioned Indenture.

                                        THE BANK OF NEW YORK
                                           as Trustee

                                        By __________________________
                                           Authorized Signatory

Date: April 1, 2003

         FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto

________________________________________________________________________________
     (Please insert Social Security or Other Identifying Number of Assignee)

________________________________________________________________________________
     (Please print or type name and address, including zip code of assignee)

the within Note and all rights thereunder, hereby irrevocably constituting and
appointing such person attorneys to transfer the within Note on the books of the
Issuer, with full power of substitution in the premises.

Dated: ________________________

NOTICE: The signature of this assignment must correspond with the name as
written upon the face of the within Note in every particular, without alteration
or enlargement or any change whatever and NOTICE: Signature(s) must be
guaranteed by a financial institution that is a member of the Securities
Transfer Agents Medallion Program ("STAMP"), the Stock Exchange, Inc. Medallion
Signature Program ("MSP"). When assignment is made by a guardian, trustee,
executor or administrator, an officer of a corporation, or anyone in a
representative capacity, proof of his or her authority to act must accompany
this Note.

                                      A-8

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