Document:

EX-10.1

[EXECUTION COPY]

LORAL SPACE & COMMUNICATIONS INC.

- and -

BARRETT XPLORE INC.

SATELLITE CAPACITY AND

GATEWAY SERVICE AGREEMENT

Dated as of December 31, 2009

CONFIDENTIAL

All information contained in or disclosed by this document is confidential and proprietary to Loral
Space & Communications Inc. and Barrett Xplore Inc. By accepting this material the recipient
agrees that this material and the information contained therein will be held in confidence and will
not be reproduced in whole or in part except for purposes of this Agreement. It is understood that
no right is conveyed to reproduce or have reproduced any item herein contained without express
written permission from Loral Space & Communications Inc. or Barrett Xplore Inc., as the case may
be.

Satellite Capacity and Gateway Service Agreement

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	Article 1.0
	 	Definitions
	 		1	
	Article 2.0
	 	Satellite
	 		6	
	Article 3.0
	 	Lease and Service
	 		8	
	Article 4.0
	 	Price
	 		11	
	Article 5.0
	 	Representations and Warranties
	 		19	
	Article 6.0
	 	Additional BARRETT Obligations
	 		20	
	Article 7.0
	 	Additional LORAL Obligations
	 		21	
	Article 8.0
	 	Miscellaneous
	 		22	

	 	 	 	 	 	 	 	 	 
	SCHEDULES:
	 	 	 	 	 	 	 	 
	Schedule 1
	 	Standard Terms and Conditions	 	 	27	 
	Schedule 2
	 	Description of Service	 	 	32	 
	Schedule 3
	 	Payment Plan	 	 	40	 
	Schedule 4
	 	Performance Specifications	 	 	41	 
	Schedule 5
	 	Interface Control Document	 	 	43	 

SATELLITE CAPACITY AND

GATEWAY SERVICE AGREEMENT

This Satellite Capacity and Gateway Service Agreement is effective as of December 31, 2009,
between LORAL SPACE & COMMUNICATIONS INC. (“LORAL”), a corporation created and existing under the
laws of the State of Delaware, and BARRETT XPLORE INC. (“BARRETT”), a corporation created and
existing under the laws of the Province of New Brunswick.

WHEREAS Space Systems/Loral, Inc. (“SS/L”), an indirect, wholly-owned subsidiary of LORAL, and
ViaSat, Inc. (“ViaSat”) entered into a contract dated as of January 7, 2008 (the “Satellite
Contract”) for the construction, testing and purchase of ViaSat-1 (as defined below);

AND WHEREAS on January 11, 2008, ViaSat and LORAL entered into a beam sharing agreement for
ViaSat-1 (the “Beam Sharing Agreement”) pursuant to which, among other things, LORAL agreed to pay
a portion of the total purchase price under the Satellite Contract directly to SS/L in exchange for
ownership of the Canadian Payload (as defined below) and for other consideration as set forth in
the Beam Sharing Agreement;

AND WHEREAS BARRETT has agreed to subscribe for, and LORAL has agreed to furnish, satellite
capacity on the Canadian Payload and related Gateway Service (as defined below) at the rates and on
the other terms and conditions contained in this Agreement;

NOW THEREFORE, in consideration of the mutual agreements contained in this Agreement and other good
and valuable consideration (the receipt and adequacy of which are hereby acknowledged), the Parties
agree as follows:

ARTICLE 1.0 – DEFINITIONS

	1.1	 	As used in this Agreement and the recitals hereto, the following terms shall have the
following meanings:

“Adjusted Annual Amount” has the meaning ascribed in Section 4.3(b).

Adjusted Throughput” has the meaning ascribed in Section 4.1.

“Affiliate” means with respect to any Person, any other Person (i) directly or indirectly
controlling (including all directors, officers, members and partners of such Person),
controlled by, or under direct or indirect common control with, such Person, or (ii) that
directly or indirectly owns more than 50% of the voting or equity securities of such Person.
A Person shall be deemed to control another Person if such Person possesses, directly or
indirectly, the power to direct or cause the direction of the management and policies of the
other Person, whether through the ownership of voting securities or voting interests, by
contract or otherwise. For greater certainty, Barrett Broadband Networks Inc. shall be an
Affiliate of BARRETT for the purpose of this Agreement.

“Agreement” means this Satellite Capacity and Gateway Service Agreement and all schedules,
appendices and instruments in amendment or confirmation of it.

“Announcement Date” has the meaning ascribed in Section 3.3.

“Authorized Maintenance” has the meaning ascribed in Section 4.8.

“BARRETT” means Barrett Xplore Inc., a corporation incorporated and existing under the laws
of the Province of New Brunswick, and its successors and permitted assigns.

“Barrett Capacity” means the capacity on the Satellite subscribed for by BARRETT and
furnished by LORAL from time to time as more particularly described in Section A of Schedule
2.

“Barrett Cost Recovery Months” has the meaning ascribed in Section 4.1(b).

“Barrett Cost Recovery Period” has the meaning ascribed in Section 4.1(b).

“Barrett Gateway Equipment” means all equipment procured, purchased, obtained or owned by
BARRETT situated in or related to the Gateways, including SMTS, servers, network security
software/hardware, broadband networking equipment and NOC equipment. For greater certainty,
Barrett Gateway Equipment does not include the RF Equipment purchased, obtained or owned by
LORAL.

“Barrett Gateway Equipment Insurance” shall have the meaning ascribed in Section 2.5.

“Baseline Throughput” has the meaning ascribed in Section 4.1.

“Beam” means a geographical coverage area for which there are Ka-band transmit and receive
capabilities from the Satellite.

“Beam Sharing Agreement” has the meaning ascribed in the recitals to this Agreement.

“Business Days” means Monday to Friday, excluding statutory holidays in either the State of
New York or the Province of Ontario.

“Canadian Broadband Initiative” has the meaning ascribed in Section 3.3.

“Canadian Capacity Offer” has the meaning ascribed in Section 4.5.

“Canadian Landing Rights” has the meaning ascribed in Section 7.2.

“Canadian Payload” means all the capacity, owned by LORAL, on ViaSat-1 that is provided by
the nine (9) forward link channels and the (9) return link channels that map to User Beams
and Gateway Beams that are centered on locations within Canada and employ the spectrum that
is the aggregate of the Ka-Band spectrum, the LMCS Spectrum and the NGSO Spectrum, as more
particularly described in Schedule 2.

“Claim Event” has the meaning ascribed in Section 2.5.

“Confirmed Outage” has the meaning ascribed in Section 4.6.

“Customer Racks” has the meaning ascribed in Section B.1.2 of Schedule 2.

“Days” means calendar days.

“Down Payments” has the meaning ascribed in Section 4.2.

“Financial Statements” means financial statements, including the balance sheets, income
statements, statements of changes in financial position, together in the case of year-end
financial statements with the notes to such financial statements, all prepared in accordance
with Canadian, U.S. or international, as applicable, generally accepted accounting
principles (“GAAP”), consistently applied.

“Force Majeure” means any of the following: (i) acts of God, meteors, fire, flood, sun
outages, severe weather that exceeds the design specifications for a satellite and related
equipment or other similar catastrophes; (ii) other circumstances in the space environment
over which neither LORAL nor BARRETT has control; and (iii) any Laws of any Governmental
Entity, national emergencies, insurrections, riots, embargoes or wars, or strikes, lockouts,
work stoppages or other labour difficulties over which neither LORAL nor BARRETT has
control.

“Foreign Person or Entity” has the meaning ascribed in Section 8.3.

“Fundamental Failure” has the meaning ascribed in Section 2.4.

“Gateways” means the Gateway Infrastructure at four (4) locations (Fort McMurray, Alberta;
Winnipeg, Manitoba; Saskatoon, Saskatchewan; and St. John’s, Newfoundland) used to access
the Canadian Payload, and “Gateway” means any one of the four (4) Gateways.

“Gateway Beam” means a Beam that covers the connectivity of a Gateway to the Satellite.

“Gateway Service” means the provision of the Gateway Infrastructure and the RF Service as
more fully described in Section B of Schedule 2.

“Gateway Infrastructure” means the physical infrastructure located at each Gateway site
as more fully described in Section B.1 of Schedule 2, including the land, buildings,
facilities, security fences and other security protection and power supply. For the greater
certainty, Gateway Infrastructure shall not include the Barrett Gateway Equipment or
Terminals.

“Governmental Entity” means any (i) multinational, federal, provincial, state, municipal,
local or other government, court, commission, board, bureau, agency or similar entity,
domestic or foreign, or (ii) any subdivision, agent, commission, board, or authority of any
of the foregoing; in each case in the proper exercise of its governmental authority.

“GSAs” has the meaning ascribed in Section 3.3.

“ITAR” has the meaning ascribed in Section 8.3.

“ITMPs” has the meaning ascribed in Section 3.6.

“Ka-band” means, for purposes of this Agreement, radio frequencies from 18.3 GHz to 18.8
GHz, 19.7 GHz to 20.2 GHz, 28.35 GHz to 28.6 GHz, and 29.5 GHz to 30.0 GHz.

“Laws” means all valid, duly enacted or promulgated statutes, codes, ordinances, decrees,
rules, regulations, municipal by-laws, judicial or arbitral or administrative or ministerial
or departmental or regulatory judgments, orders, decisions, rulings or awards, policies
having the force of law or any provisions of the foregoing, binding on the Person referred
to in the context in which such word is used; and “Law” means any one of the foregoing.

“LMCS Spectrum” means, for purposes of this Agreement, radio frequencies from 28.1 GHz to
28.35 GHz.

“LORAL” means Loral Space & Communications Inc., a corporation incorporated and existing
under the laws of the State of Delaware, and its successors and permitted assigns.

“Loral Capacity” has the meaning ascribed in Section 2.3.

“Maintenance Windows” has the meaning ascribed in Section 4.8.

“Material Change” has the meaning ascribed in Section 2.1.

“Minimum Performance Specifications” has the meaning ascribed in Schedule 4.

“Month” means a calendar month.

“Monthly Amount” has the meaning ascribed in Section 4.1.

“NGSO Spectrum” means, for purposes of this Agreement, radio frequencies from 18.8 GHz to
19.3 GHz and 28.6 GHz to 29.1 GHz.

“Non-Accepted Canadian Capacity Offer” has the meaning ascribed in Section 4.5.

“Operating Term” has the meaning ascribed in Section 3.4.

“Operating Year” has the meaning ascribed in Section 3.4.

“Orbital Position” means the geostationary 115.0°W orbital position.

“Other Canadian Capacity” has the meaning ascribed in Section 4.5.

“Other Capacity” has the meaning ascribed in Section 2.3.

“Outage Credit” has the meaning ascribed in Section 4.6.

“Outage Credit Claim Period” has the meaning ascribed in Section 4.9.

“Parties” means LORAL, BARRETT and any other Person who may become party to this Agreement,
and “Party” means any one of them.

“Payment Account” means the account of LORAL designated by notice in writing from time to
time by LORAL to BARRETT.

“Person” means an individual, partnership, limited liability company, corporation, joint
stock company, trust, unincorporated association, joint venture or other entity or
Governmental Entity.

“Prepayment Amount” has the meaning ascribed in Section 4.3(b).

“Prepayment Date” has the meaning ascribed in Section 4.3(b).

“Prepayment Notice” has the meaning ascribed in Section 4.3(b).

“Prepayment Percentage” has the meaning ascribed in Section 4.3(b).

“Prepayment Premium” has the meaning ascribed in Section 4.3(b).

“Remaining NPV Amount” has the meaning ascribed in Section 4.3(b).

“Restrictive Period” has the meaning ascribed in Section 4.5.

“RF Equipment” means any equipment in the data path between (x) the L band interfaces of the
SMTS (but not including such interfaces) and (y) the Ka-band antenna at the Gateway that is
involved in the transmitting and receiving of RF signals to and from the Satellite
(including such antenna).

“RF Service” means the operating services described in Section B.2 of Schedule 2.

“Satellite” means ViaSat-1.

“Satellite Capacity Failure” has the meaning ascribed in Section 4.10.

“Satellite Contract” has the meaning ascribed in the recitals to this Agreement.

“Service” means the Barrett Capacity and the Gateway Service.

“Service Commencement Date” means the date on which (i) ViaSat-1 has been delivered to the
Orbital Position, (ii) in-orbit testing on ViaSat-1 has been completed and ViaSat-1 has been
accepted by ViaSat and LORAL under the Satellite Contract and Beam Sharing
Agreement, (iii) the licences referred to in Section 7.1 and 7.2 have been
obtained, and (iv) the Canadian Payload is operational, functioning and providing at least
seventy-five percent (75%) of the Minimum Performance Specifications set forth in Schedule 4
and is capable and ready to commence commercial operations.

“SS/L” has the meaning ascribed in the recitals to this Agreement.

“Standard Terms and Conditions” means the standard terms and conditions set forth in
Schedule 1.

“Successor Canadian Capacity” has the meaning ascribed in Section 4.5.

“Supplemental Capacity” has the meaning ascribed in Section 3.7.

“Supplemental Throughput” has the meaning ascribed in Section 3.8.

“Supplemental Throughput Monthly Amount” has the meaning ascribed in Section 4.1(b).

“System” means the Canadian Payload together with the Gateway Infrastructure and the RF
Equipment located at the Gateways established, operated and maintained to furnish the
Service.

“Term” has the meaning ascribed in Section 3.4.

“Terminal” means a satellite modem, antenna, transceiver, feed assembly, inter facility link
and related hardware and software provided by BARRETT to Users in order to receive and
transmit on Ka-band, LMSC or NGSO frequencies to and from the Satellite.

“Total Capacity” means the total capacity of the Canadian Payload as more particularly
described in Section A of Schedule 2.

“U.S. Export Laws” has the meaning ascribed in Section 8.3.

“User” means any user and/or reseller of the two-way broadband access services offered by
BARRETT using the Service under this Agreement, including a subscriber or customer of
BARRETT or of BARRETT’s resellers, but excludes LORAL to the extent LORAL is a user or
reseller pursuant to an agreement contemplated by Section 3.6.

“User Beam” means a Beam that covers the connectivity of a User’s Terminal to the Satellite.

“User Beam Capacity Failure” has the meaning ascribed in Section 4.10.

“ViaSat” has the meaning ascribed in the recitals to this Agreement.

“ViaSat-1” means the fixed service satellite known as ViaSat-1, an SS/L 1300 based
spacecraft currently under construction pursuant to the Satellite Contract, to be operated
in the Orbital Position, having the functionality more fully described in Schedule 2 and the
specifications more fully described in Schedule 4.

	1.2	 	Interpretation. In this Agreement, “herein”, “hereof”, “hereunder”, “hereto” and similar
expressions refer to this Agreement and not to any particular Article, Section or other
portion thereof unless there is something in the subject matter or context inconsistent
therewith. “Article” or “Section” of this Agreement followed by a number means and refers to
the specified Article or Section of this Agreement. In this Agreement, “including” means
“including without limiting the generality of the foregoing”. Any reference in this Agreement
to gender shall include all genders, and words importing the singular number only shall
include the plural and vice versa. If there is any conflict or inconsistency between the
terms of this Agreement and the schedules attached hereto, the order of precedence shall be:
(1) Limitations of Liability (Schedule 1, Section F), (2) the terms of this Agreement, and (3)
the schedules (except Limitations of Liability — Schedule 1, Section F). In the event of any
conflict or inconsistency between the schedules attached hereto, a specific statement shall
prevail over a general statement, including specific statements regarding a Force Majeure
(Schedule 1, Section D).

	1.3	 	Entire Agreement. This Agreement, including all schedules attached hereto, and the
agreements referred to herein or delivered pursuant hereto, supersede all prior agreements,
term sheets, letters of intent, understandings, negotiations and discussions, whether oral or
written, of the Parties pertaining to the subject matter hereof. There are no
representations, warranties, conditions or other agreements, express or implied, statutory or
otherwise, between the Parties in connection with the subject matter of this Agreement, except
as specifically set forth in this Agreement and the agreements referred to herein or delivered
pursuant hereto.

	1.4	 	Amendments. This Agreement may only be amended, modified or supplemented by a written
agreement signed by each of the Parties.

	1.5	 	Incorporation of Schedules. The schedules attached hereto shall for all purposes hereof form
an integral part of this Agreement.

	1.6	 	Currency. Unless otherwise set forth, all dollar amounts referred to in this Agreement are
expressed in the currency of Canada.

ARTICLE 2.0 – SATELLITE

	2.1	 	ViaSat-1. SS/L has entered into the Satellite Contract, providing for the design,
manufacture and delivery of ViaSat-1.  Schedule 2 contains an overview of the Satellite
functionality and Schedule 4 contains the Satellite specifications, as specified in the
Satellite Contract as of the date of this Agreement. BARRETT acknowledges and agrees that
LORAL reserves the right to modify such design, grant waivers under the Satellite Contract or
amend the Beam Sharing Agreement, provided, however, such modifications, waivers or amendments
do not have an adverse material affect on the ability of the Barrett Capacity to achieve the
Minimum Performance Specifications (a “Material Change”).  LORAL shall consult with BARRETT in
determining any changes or modifications to the positioning or characteristics of the Canadian
Payload, and consider comments from BARRETT in good faith.

On a monthly basis, LORAL shall, subject to Section 8.3, provide BARRETT with a progress
briefing on ViaSat-1, and consider comments from BARRETT in good faith.  In the event there
are delays, performance issues, regulatory issues or contractual issues that are expected to
result in a Material Change, LORAL will, on a timely basis, provide information in respect
thereof to BARRETT, seek input from BARRETT and will work with BARRETT in designing
mitigation strategies.  Without limiting the generality of the foregoing, LORAL will
consider in good faith any input from BARRETT on Material Changes that primarily affect the
Barrett Capacity and will follow such input to the extent it is commercially reasonable for
LORAL to do so.

BARRETT understands and agrees and LORAL represents and warrants that LORAL will be, at the
intentional ignition of the launch of ViaSat-1, the owner and, either directly or through
third parties, the operator of the Canadian Payload. Except for spillover capacity used by
ViaSat, the only User Beams on ViaSat-1 operating in Canada will be the Canadian Payload.

	2.2	 	Delivery and Launch of ViaSat-1. As of the date of this Agreement, the contracted delivery
date for ViaSat-1 under the Satellite Contract is January 7, 2011, and the projected Service
Commencement Date is June 30, 2011.  ViaSat has entered into a launch services agreement with
International Launch Services Inc. for services related to the launch of ViaSat-1. LORAL will
use commercially reasonable efforts to cause ViaSat-1 to be delivered, launched and meet the
projected Service Commencement Date on the dates described in this Agreement, subject to Force
Majeure and other reasonable delays. LORAL will keep BARRETT informed on a timely basis
regarding any changes to the projected dates for the delivery and launch, and the projected
Service Commencement Date, of ViaSat-1. LORAL agrees that the Barrett Capacity shall be
subject to the same or substantially similar acceptance tests and acceptance standards as all
other parts of ViaSat-1, it being understood that many such tests would be conducted on
ViaSat-1 as a whole, without distinguishing the Barrett Capacity from any other portion of
ViaSat-1.

	2.3	 	Continuing Service. To the extent practicable and subject to the Beam Sharing Agreement,
LORAL shall use reasonable commercial efforts to cause ViaSat-1 resources to be managed in a
manner that maintains the full capabilities of the Barrett Capacity and all other capacity on
ViaSat-1 (the “Other Capacity”) for the operational life of ViaSat-1. The Beam Sharing
Agreement provides that, subject to the terms set forth therein, ViaSat shall provide for
those satellite resources and functions used for the operation of both ViaSat’s payload and
the Canadian Payload in a fair and evenhanded manner, having due regard to the interests of
Loral and ViaSat, to permit the Canadian Payload to be operated on the Satellite in accordance
with the payload technical specifications for the Canadian Payload as provided in the
Satellite Contract from time to time. If ViaSat-1 becomes incapable of providing the full
capabilities of the Barrett Capacity and the Other Capacity, then, LORAL shall use reasonable
commercial efforts to cause the ViaSat-1 resources to be allocated, subject to the Beam
Sharing Agreement, in a manner that protects the overall health and safety of ViaSat-1, while
maintaining, to the extent practicable, a proportionate impact on the Barrett Capacity and the
Other Capacity, in accordance with the respective proportionate shares of the full capacity of
ViaSat-1. Subject to the Beam Sharing Agreement, spare components on ViaSat-1 shall be
treated as a shared pool of spares, to be allocated to the Barrett Capacity and the Other
Capacity in proportion to their respective proportionate shares as nearly as reasonably and
operationally feasible. ViaSat-1 is designed to have at least one spare component for each
type of active component of ViaSat-1. In the event of a failure in any Beam in the Canadian
Payload that compromises the Barrett Capacity’s ability to meet the Minimum Performance
Specifications, LORAL will, subject to the Beam Sharing Agreement, use commercially reasonable
efforts to restore the Barrett Capacity using spare components on ViaSat-1, if available.
LORAL and BARRETT acknowledge that, if the Barrett Capacity is less than the Total Capacity,
and such failure also affects the portion of the Total Capacity that is not the Barrett
Capacity (the “Loral Capacity”), LORAL will, subject to the Beam Sharing Agreement, use
commercially reasonable efforts to restore the affected Barrett Capacity pro rata with the
affected Loral Capacity. BARRETT’s sole remedies for any preemption or interruption of its
use of the Barrett Capacity shall be recovery of an Outage Credit (if applicable) or the right
to exercise termination remedies (if applicable), each as provided in the Agreement.

	2.4	 	Fundamental Failure. Each of the following events shall be a “Fundamental Failure”:

	 	(a)	 	Destruction of ViaSat-1: ViaSat-1 is destroyed prior to or during launch, or
fails to reach the Orbital Position;

	 	(b)	 	Cancellation of ViaSat-1: the Satellite Contract or the Beam Sharing Agreement
is cancelled or terminated;

	 	(c)	 	No Canadian Payload: the Canadian Payload is destroyed, removed or
substantially damaged prior to or during launch;

	 	(d)	 	Excessive Delay: the Service Commencement Date has not occurred by the earlier
of: (i) one year from the launch of ViaSat-1, and (ii) December 31, 2012; or

	 	(e)	 	System Failure: the System is not able to achieve at least seventy-five percent
(75%) of the Barrett Capacity for one continuous 24-hour period after the completion of
in-orbit testing. For greater certainty, once the System has achieved seventy-five
percent (75%) of the Barrett Capacity for one continuous 24-hour period after the
completion of in-orbit testing, any future failure after the Service Commencement Date
of or degradation in the System resulting in achievement of capacity below seventy-five
percent (75%) of the Barrett Capacity shall not be considered a Fundamental Failure.

In the event of a Fundamental Failure, BARRETT’s sole and exclusive remedy, shall be, on
written notice from BARRETT to LORAL of such Fundamental Failure: (i) to have LORAL refund
to BARRETT within 30 Days of such notice an amount equal to all amounts paid by BARRETT
under this Agreement (including all applicable taxes paid by BARRETT to LORAL) from the date
of this Agreement to the date of notice, and (ii) to terminate this Agreement on the date
specified in the notice. Upon such written notice, LORAL shall pay to BARRETT within 30
Days all amounts paid by BARRETT under this Agreement (including all applicable taxes paid
by BARRETT to LORAL) from the date of this Agreement to the date of notice.

	2.5	 	Insurance for Barrett Gateway Equipment. LORAL shall, in connection with its obtaining
launch insurance for the Canadian Payload, use commercially reasonable efforts to obtain
additional insurance coverage for LORAL’s costs of its Gateway Infrastructure and its
installation and BARRETT’s costs of the Barrett Gateway Equipment and its installation (the
“Barrett Gateway Equipment Insurance”). LORAL shall obtain a quote for the Barrett Gateway
Equipment Insurance on standard commercial terms applicable to “top-hat” launch insurance
policies and in a coverage amount of not less than US $15 million. If coverage in such amount
is not available, LORAL shall use commercially reasonable efforts to obtain a quote for the
maximum amount of coverage available. If the maximum amount of insurance coverage available
is not sufficient to cover the costs of LORAL’s Gateway Infrastructure and the costs of
Barrett’s Gateway Equipment, the available insurance shall be allocated proportionately
between LORAL and BARRETT based on the maximum amount each Party wishes to insure (up to the
costs of its equipment). If BARRETT elects to obtain such coverage, BARRETT shall pay the
full cost of any premiums associated with the Barrett Gateway Equipment Insurance. In the
event of damage or destruction to, or the failure of, the Canadian Payload upon launch (or
within one year after launch if such post-launch coverage was included in the launch
insurance) (a “Claim Event”), if BARRETT requests in writing, LORAL shall make a claim under
such insurance policy as directed by BARRETT for the loss suffered by BARRETT in respect of
the Barrett Gateway Equipment. In the event that LORAL receives any insurance proceeds as a
result of a Claim Event, LORAL shall pay to BARRETT promptly upon receipt the proceeds of such
insurance associated with the Barrett Gateway Equipment Insurance. LORAL shall use reasonable
commercial efforts to cause the insurance policy to contain an undertaking by the insurers to
notify BARRETT in writing not less than thirty (30) days prior to any material change,
cancellation or termination thereof, and name BARRETT as an additional insured party and waive
all subrogation rights by the insurer against BARRETT. If BARRETT requests in writing that
LORAL obtain a certificate of insurance from LORAL’s insurer, LORAL shall request such
certificate from its insurer and provide such certificate to BARRETT as soon as practicable
after it receives such certificate.

ARTICLE 3.0 – LEASE AND SERVICE

	3.1	 	Lease and Service. Subject to the terms and conditions of this Agreement: (i) BARRETT hereby
agrees to lease and LORAL hereby agrees to supply, throughout the Operating Term, the Barrett
Capacity, and (ii) BARRETT hereby agrees to purchase and LORAL hereby agrees to provide,
during the Operating Term, the Gateway Service. Neither this Agreement nor BARRETT’s use of
the Barrett Capacity shall, or shall be deemed to, convey title or any other ownership
interest to BARRETT in or to ViaSat-1 or any capacity thereon, including the Canadian Payload.

	3.2	 	Barrett Capacity. Unless BARRETT exercises an option set out in Section 3.3 below, BARRETT
agrees that the Barrett Capacity shall be the Total Capacity.

	3.3	 	BARRETT Option to Reduce Barrett Capacity. BARRETT has submitted applications to deploy
broadband services (using a combination of satellite and fixed wireless technologies) to
fifty-five (55) Canadian geographic services areas (“GSAs”) as part of the “Broadband Canada:
Connecting Rural Canadians” program initiative (the “Canadian Broadband Initiative”). It is
expected that the Government of Canada will announce the successful applicants in the Canadian
Broadband Initiative in December 2009 or January 2010 and will enter into final contracts with
such successful applicants by the end of the first quarter of 2010.

If the Government of Canada announces that BARRETT is a successful applicant for at least
nineteen (19) but less than twenty-seven (27) GSAs, BARRETT shall have the option to reduce
the Barrett Capacity to seventy-five percent (75%) of the Total Capacity by exercising this
option in the manner set out below.

If the Government of Canada announces that BARRETT is a successful applicant for fewer than
nineteen (19) GSAs, BARRETT shall have the option to reduce the Barrett Capacity to either
fifty percent (50%) or seventy-five percent (75%) of the Total Capacity, in BARRETT’s
discretion, by exercising this option in the manner set out below.

If the Government of Canada has not made an announcement regarding successful applicants
under the Canadian Broadband Initiative on or prior to March 29, 2010, BARRETT shall have
the option on March 31, 2010 to reduce the Barrett Capacity to either fifty percent (50%) or
seventy-five percent (75%) of the Total Capacity, in BARRETT’s discretion, by exercising
this option in the manner set out below.

In order to exercise an option above, BARRETT shall deliver written notice to LORAL of its
intention to exercise its option by the earlier of (x) sixty (60) Days after the date the
Government of Canada announces the successful applicants in the Canadian Broadband
Initiative (the “Announcement Date”) and (y) March 31, 2010, failing which the options above
shall be of no force and effect and BARRETT shall continue to be committed to the Total
Capacity.

If BARRETT exercises its option to reduce the Barrett Capacity, such reduction shall be
accomplished as follows: each of the nine (9) Canadian User Beams on the Satellite and each
of the four (4) Gateway Beams will be partitioned by reducing power and bandwidth such that
each Beam receives its pro-rata share of total power and its pro-rata share of Ka-band and
forward LMDS/LMCS bandwidth. For greater certainty, any partitioned bandwidth will be
contiguous within each Beam.

If BARRETT exercises its option to reduce the Barrett Capacity and is therefore not
subscribing for the Total Capacity, LORAL may use any and all capacity on the Satellite that
is not the Barrett Capacity in any manner LORAL elects, including leasing such capacity to
other customers or operators.

	3.4	 	Term. The term of this Agreement (the “Term”) shall commence upon the date of execution of
this Agreement and shall (subject to earlier termination under Section 2.4, Section 4.10 or
Section E of Schedule 1) expire upon the earlier of (i) the end of the operational
life of ViaSat-1 and (ii) fifteen (15) years after the Service Commencement Date.

The operating term under this Agreement (the “Operating Term”) shall commence upon the
Service Commencement Date and shall expire upon the end of the Term. The Operating Term
shall be divided into fifteen (15) operating years (each, an “Operating Year”) as follows:

If the Service Commencement Date occurs on or before November 30, 2011, each
Operating Year shall be the calendar year (i.e., the twelve-Month period commencing
on January 1 and ending on December 31); or

If the Service Commencement Date occurs after November 30, 2011, each Operating Year
shall be the twelve-Month period commencing on the first day of the second full
Month immediately following the Service Commencement Date (e.g., if the Service
Commencement Date occurs on March 23, 2012, the first Operating Year shall commence
on May 1, 2012 and shall end on April 30, 2013, and the second Operating Year shall
commence on May 1, 2013 and end on April 30, 2014, etc.).

If the operational life of the Satellite extends beyond fifteen (15) years, BARRETT shall
have an option (the “Extension Option”) to continue receiving Service until the end of the
expected operational life of the Satellite as determined by the remaining fuel life on the
Satellite. For greater certainty, the Extension Option shall be for the entire period of
the extended operational life until the end of the expected operational life. BARRETT’s
option to extend Service beyond the planned operation life of the Satellite shall be
exercised as follows:

	 	(a)	 	if LORAL chooses to implement Successor Canadian Capacity at the
Orbital Position and makes a Successor Canadian Capacity Offer to BARRETT and
BARRETT does not accept such Successor Canadian Capacity Offer, BARRETT must
exercise the Extension Option no later than the date on which it elects not to
accept the Successor Canadian Capacity Offer; or

	 	(b)	 	if LORAL chooses to implement Successor Canadian Capacity at the
Orbital Position and makes a Successor Canadian Capacity Offer to BARRETT and
BARRETT accepts such Successor Canadian Capacity Offer, BARRETT must exercise the
Extension Option no later than one (1) year prior to the end of the planned
operational life of the Satellite; or

	 	(c)	 	if LORAL chooses not to implement Successor Canadian Capacity at the
Orbital Position and, therefore, no Successor Canadian Capacity Offer is made to
BARRETT, BARRETT must exercise the Extension Option no later than one (1) year
prior to the end of the planned operational life of the Satellite.

In order to exercise an the Extension Option, BARRETT shall deliver written notice to LORAL
of its intention to exercise such option by the applicable date set forth above, failing
which the Extension Option shall expire and be of no further force and effect. If BARRETT
exercises the Extension Option, the Parties shall negotiate in good faith the monthly amount
to be paid for the Service during the period of the extended operational life of the
Satellite.

	3.5	 	Notice of Service Commencement Date. LORAL shall give BARRETT at least thirty (30) Days but
not more than 120 Days prior written notice of the anticipated Service Commencement Date. In
the event that, after giving such notice, LORAL becomes aware that the anticipated Service
Commencement Date is expected to change, LORAL will notify BARRETT of such change within 48
hours of its becoming aware of the expected change.

	3.6	 	Reseller Agreements. If BARRETT subscribes for the Total Capacity, BARRETT will offer LORAL,
on a non-exclusive basis, a reseller agreement to utilize a portion of the Barrett Capacity
for LORAL to serve enterprise (i.e., business, non-consumer, non-household based) and
aeronautical markets. The Parties agree to negotiate the terms and conditions of such
reseller agreement, including price and capacity, in good faith.

If BARRETT subscribes for the Total Capacity and the Parties enter into a reseller agreement
for LORAL to utilize a portion of the Barrett Capacity, or, if BARRETT subscribes for less
than the Total Capacity, BARRETT will allow LORAL to share in the use of the Barrett Gateway
Equipment as needed to enable LORAL to use the portion of the Barrett Capacity subject to
the reseller agreement or that remaining portion of the Total Capacity that has not been
subscribed for by BARRETT, as the case may be. In such event, the Parties shall negotiate
in good faith an equitable sharing of the costs of using the Barrett Gateway Equipment,
including an allocation for the capital costs of the Barrett Gateway Equipment. The Parties
acknowledge that BARRETT intends to deploy Internet traffic management practices (“ITMPs”)
within its networks, including in respect of the Barrett Capacity, and such ITMPs may apply
to the portion of the Barrett Capacity utilized by LORAL and to any other capacity that may
utilize the Barrett Gateway Equipment. For greater certainty, LORAL’s obligation to share
equitably in the costs of the Barrett Gateway Equipment will apply only with respect to
Barrett Gateway Equipment actually utilized by or for LORAL in providing its services to
customers.

BARRETT may resell all or any portion of the Barrett Capacity on a wholesale basis to a
third party or third parties other than LORAL.

	3.7	 	Supplemental Capacity. The Parties contemplate that capacity on the Satellite may be
increased using NGSO Spectrum and the return portion of the LMCS Spectrum (the “Supplemental
Capacity”). The Parties acknowledge and agree that LORAL will decide whether and when to
pursue obtaining the Supplemental Capacity. If LORAL decides to pursue obtaining the
Supplemental Capacity, LORAL shall not be obligated to offer to BARRETT, and BARRETT shall not
have any rights to use, the Supplemental Capacity. LORAL will be responsible for negotiating
and purchasing all additional gateway equipment and consumer premises equipment capable of
utilizing the Supplemental Capacity. The Parties acknowledge that the implementation of the
Supplemental Capacity may result in a reduction in the available power on ViaSat-1 to operate
the Barrett Capacity. If the Supplemental Capacity is implemented, the Parties agree that (a)
LORAL may reduce the power used for the Barrett Capacity on ViaSat-1 to provide power for the
Supplemental Capacity, provided that the total data throughput (Mbps) of the Barrett Capacity
does not decrease by more than 20% as a result of the reduction in the power, and (b) the
price BARRETT shall be obligated to pay to LORAL for the Service after giving effect to the
implementation of the Supplemental Capacity shall be adjusted as set forth in Section 4.1(b).
In addition, if LORAL implements the Supplemental Capacity, BARRETT will allow LORAL to share
in the use of Barrett Gateway Equipment as needed to enable use of the Supplemental Capacity,
provided LORAL pays all incremental capital costs related to the modification of, additions to
or use of the Barrett Gateway Equipment necessary to utilize the Supplemental Capacity and all
increased operating costs for the Barrett Gateway Equipment. The Parties shall negotiate in
good faith an equitable sharing of all such costs.

	3.8	 	Supplemental Throughput.  The Parties contemplate that total forward data throughput (Mbps)
on the outbound (gateway-to-user) satellite transponders may be increased by an incremental
amount (the “Supplemental Throughput”) in the range of 10%-15% of the original, multi-carrier
total forward throughput when the single-carrier version of the ViaSat equipment, which
transmits a single wideband carrier that occupies an entire outbound transponder, is deployed.
BARRETT will decide whether and when to pursue obtaining the Supplemental Throughput. If
BARRETT decides to pursue obtaining the Supplemental Throughput, the Parties will use
reasonable commercial efforts to obtain the Supplemental Throughput as follows: (x) BARRETT
will negotiate for the purchase of single-carrier gateway equipment and Terminals capable of
utilizing the Supplemental Throughput; and (y) LORAL will install any RF Equipment that might
be needed in the Gateways to enable the Supplemental Throughput. In the event the Parties
agree to obtain and succeed in obtaining and rendering ready and capable to commence
commercial operation the Supplemental Throughput, the price BARRETT shall be obligated to pay
to LORAL for the Service shall be increased as set forth in Section 4.1(c).

ARTICLE 4.0 – PRICE

	4.1	 	(a) Monthly Rate. Subject to adjustment as provided in this Agreement, BARRETT shall pay for
the Service a monthly amount (the “Monthly Amount”) equal to (x) the payment amount set forth
in the relevant column of Schedule 3 for the relevant Operating Year and for the relevant
percentage that the Barrett Capacity represents of the Total Capacity, divided by (y) twelve
(12). Payments of the Monthly Amount shall commence on and from the first Month of the first
Operating Year and shall continue until the last Month of the last Operating Year. In
addition, regardless of when the Service Commencement Date occurs, BARRETT shall pay in one
lump sum, within thirty (30) days of the Service Commencement Date, the amount set forth in
the relevant row of Schedule 3 for “Operating Year 0” and the relevant column for the
percentage that the Barrett Capacity represents of the Total Capacity. For greater certainty,
Operating Year 0 is not an Operating Year for the purpose of this Section 4.1.

(b) Adjustment for Supplemental Capacity. In the event the Supplemental Capacity is
implemented in accordance with Section 3.7, the Monthly Amount shall be adjusted and shall
be equal to (A) the Monthly Amount otherwise calculated for such Month in accordance with
Section 4.1(a) multiplied by (B) a fraction the numerator of which is the Adjusted
Throughput and the denominator of which is the Baseline Throughput.

“Adjusted Throughput” means the forward throughput expressed in Mbps after implementation of
the power reduction for the Supplemental Capacity that is actually achieved as determined by
analysis based on actual performance of the BARRETT Gateway Equipment and Terminals.

“Baseline Throughput” means the forward throughput expressed in Mbps before implementation
of any power reduction for the Supplemental Capacity or before the implementation of
Supplemental Throughput, in each case, that is achieved as determined by analysis based on
actual performance of the BARRETT Gateway Equipment and Terminals.

(c) Increase for Supplemental Throughput. In the event the Supplemental Throughput is
implemented in accordance with Section 3.8, the Monthly Amount shall be increased commencing
with the first Month after the Barrett Cost Recovery Period and shall be equal to: (A) the
Monthly Amount otherwise calculated for such Month in accordance with Section 4.1(a) plus
(B) the Monthly Amount Increase.

“Monthly Amount Increase” means an amount equal to fifty percent (50%) of the Supplemental
Throughput Monthly Amount.

“Supplemental Throughput Monthly Amount” means an amount equal to (A) the Monthly Amount
otherwise calculated for such Month in accordance with Section 4.1 multiplied by (B) a
fraction the numerator of which is the Increased Throughput and the denominator of which is
the Baseline Throughput.

“Increased Throughput” means the forward throughput expressed in Mbps after implementation
of the Supplemental Throughput that is actually achieved as determined by analysis based on
actual performance of the BARRETT Gateway Equipment and Terminals, less the Baseline
Throughput.

“Net Throughput Costs” means BARRETT’s actual and documented out-of-pocket costs incurred in
connection with obtaining and implementing the Supplemental Throughput (including the
capital cost of and any tariffs, taxes, permits or licence fees for additional SMTS, SMTS
components, and Gateway equipment specifically required to enable implementation of the
Supplemental Throughput, and costs incurred to install such equipment) less LORAL’s actual
and documented out-of-pocket costs incurred in connection with obtaining and implementing
the Supplemental Throughput (including the capital cost of RF equipment required in order to
realize Increased Throughput and costs incurred in connection with obtaining required
licences and regulatory approvals).

“Barrett Cost Recovery Months” means a number of Months derived by dividing total Net
Throughput Costs by the Supplemental Throughput Monthly Amount.

“Barrett Cost Recovery Period” means the period of time in Months commencing with the first
Month of commercial operations using the Supplemental Throughput and ending the number of
Barrett Cost Recovery Months after the first Month of commercial operations using the
Supplemental Throughput.

(d) Payments. All payments hereunder shall be due and payable net thirty (30) days after
the first day of each Month in which Services are to be delivered. LORAL shall issue an
invoice for the Monthly Amount no later than 30 Days prior to the due date for such payment,
and BARRETT shall pay such invoice on or before the due date. In the event the Service
Commencement Date is not the first day of a Month or the Service does not end on the last
day of a Month, the charge for the fractional part of the Month during which the Service is
furnished will be pro-rated by the number of days the Service was furnished during the
relevant Month.

	4.2	 	Down Payments. BARRETT shall make the following down payments to LORAL (the “Down
Payments”):

	 	 	 
	January 5, 2010

June 15, 2010

	 	$1.0 million

$1.5 million

The Down Payments are irrevocable and non-refundable, except as provided in Section 2.4 or
if BARRETT terminates this Agreement prior to the Service Commencement Date in accordance
with Section E.1 of Schedule 1.

	4.3	 	Prepayments.

	 	(a)	 	Required Prepayment: If the Government of Canada announces that BARRETT is a
successful applicant under the Canadian Broadband Initiative for:

	 	(i)	 	at least nineteen (19) but less than
twenty-seven (27) GSAs, BARRETT shall pay to LORAL $1.25 million as a
prepayment on June 15, 2010 and a further $2.75 million on December 15,
2010, or

	 	(ii)	 	at least twenty-seven (27) GSAs or more,
BARRETT shall pay to LORAL $2.5 million as a prepayment on June 15,
2010 and a further $8.0 million on December 15, 2010.

In the event of a required prepayment in accordance with this Section 4.3(a)(i) or
4.3(a)(ii), the Monthly Amount for the purpose of Section 4.1(a) will be calculated
using the annual amount in the relevant column of Schedule 3 corresponding to the
applicable required prepayment.

	 	(b)	 	Optional Prepayments: BARRETT shall have the option to accelerate all or a
portion of the payments due for the Service as follows:

BARRETT may notify LORAL in writing of its intention to exercise the prepayment
option. Such notice (the “Prepayment Notice”) shall be given no later than three
(3) Business Days prior to the end of any Month and shall include the amount of
future payments that BARRETT is electing to prepay (the “Prepayment Amount”). LORAL
shall then calculate a prepayment premium (the “Prepayment Premium”) based on the
Prepayment Amount and the applicable Prepayment Date and prepare the schedule of the
payments remaining after giving effect to the prepayment. Such calculations shall
be made as set forth below. If BARRETT elects to exercise its prepayment option,
the Prepayment Amount and the Prepayment Premium shall be due and payable, and
BARRETT shall pay the Prepayment Amount and the Prepayment Premium to LORAL, on the
first day of the Month immediately following the delivery of the Prepayment Notice
(as applicable, the “Prepayment Date”).

Calculation of Prepayment Premium: The Prepayment Premium shall be equal to
the Prepayment Amount set forth in the Prepayment Notice multiplied by the
Prepayment Premium Percentage in the table below for the relevant Prepayment Date:

	 	 	 	 	 
	Prepayment Date	 	Prepayment Premium
	 	 	Percentage
	On or before July 1, 2010

	 	 	0	%
	From and after July 2, 2010 to and including December 31, 2014

	 	 	10	%
	From and after January 1, 2015 to and including December 31, 2017

	 	 	8	%
	From and after January 1, 2018 to and including December 31, 2020

	 	 	6	%
	From and after January 1, 2021 to and including December 31, 2023

	 	 	4	%
	From and after January 1, 2024

	 	 	3	%

Adjustment of Remaining Payments: The remaining payments of the Monthly
Amount due under Section 4.1 shall be adjusted to give effect to the optional
prepayment as follows:

	 	1.	 	the net present value, as of the applicable
Prepayment Date, of all remaining payments shall be calculated using a
discount rate of eleven percent (11%) per annum (the “Remaining NPV
Amount”);

	 	2.	 	the Prepayment Amount shall be divided by the
Remaining NPV Amount to yield the “Prepayment Percentage”;

	 	3.	 	the payment amount set forth for each year in
the relevant column of Schedule 3 after the date of the prepayment
shall be multiplied by one (1) minus the Prepayment Percentage to
arrive at the “Adjusted Annual Amount”. From and after the date of any
optional prepayment pursuant to this Section 4.3, the Adjusted Annual
Amount shall be used to calculate the Monthly Amount for the purpose of
Section 4.1(a).

For greater certainty, an example of a prepayment under Section 4.3(b) and the
resulting adjusted payment schedule giving effect to the prepayment are set forth on
Schedule 3.

	4.4	 	Most Favoured Nation Pricing. In the event LORAL sells both Ka-band or forward LMCS capacity
on the Canadian Payload and related gateway services to another party in Canada at an overall
price that is lower than the price charged to BARRETT under this Agreement, LORAL shall also
offer such lower price to BARRETT retroactive to the date when such price was made available
to the other party. In the event LORAL sells either Ka-band capacity or gateway services (but
not both) to another party in Canada, the Parties will discuss in good faith whether the
component of the price charged to BARRETT under this Agreement for the particular Service
(i.e. the price for the Barrett Capacity or the price of the Gateway Service) is higher than
the rate charged to the other party, and, if so, LORAL shall adjust the overall price charged
to BARRETT so that the component of the price charged to BARRETT under this Agreement for the
particular Service (i.e. the price for the Barrett Capacity or the price of the Gateway
Service) is no higher than the price charged to the other party retroactive to the date when
such price was made available to the other party.

	4.5	 	Right of First Offer for Successor or Other Canadian Capacity. In the event LORAL chooses to
put a successor Canadian payload designed for delivery of broadband Internet service at the
Orbital Position using any or all of the same frequencies in use on ViaSat-1 (the “Successor
Canadian Capacity”), or in the event that LORAL contracts to own or owns a payload
designed for delivery of broadband Internet service with coverage of Canada at an orbital
position other than the Orbital Position using any or all of the same frequencies in use on
ViaSat-1 (the “Other Canadian Capacity”), LORAL shall make a written offer to BARRETT to
furnish: (i) in the case of Successor Canadian Capacity, at least the same amount of capacity
being used by BARRETT at the end of life of ViaSat-1 or (ii) in the case of Other Canadian
Capacity, fifty percent (50%) of the Other Canadian Capacity, upon certain terms and
conditions, including price (in each case, the “Canadian Capacity Offer”). Within thirty (30)
Days of receipt of the Canadian Capacity Offer, BARRETT shall deliver written notice to LORAL
of its intention to accept or not accept the Canadian Capacity Offer. In the event BARRETT
accepts the Canadian Capacity Offer, the Parties shall negotiate in good faith for a period of
ninety (90) Days in order to finalize and execute a definitive and binding agreement with
respect to the Successor Canadian Capacity or the Other Canadian Capacity.

In the event BARRETT does not accept the Canadian Capacity Offer, or fails to give notice of
its acceptance of the Canadian Capacity Offer within the aforementioned thirty (30) Day
period, or BARRETT and LORAL fail to conclude a definitive and binding agreement within the
aforementioned ninety (90) Day period (any such circumstance, a “Non-Accepted Canadian
Capacity Offer”), LORAL may not, for a period of two (2) years following the date of the
first Non-Accepted Canadian Capacity Offer (the “Restrictive Period”), enter into an
agreement with a third party for the sale, lease or license of some or all of the Successor
Canadian Capacity or the Other Canadian Capacity, as the case may be, at a price that is
less than one hundred and ten percent (110%) of the price contained in the Canadian Capacity
Offer and otherwise on terms and conditions that are more materially favourable to such
third party than those terms and conditions contained in the Canadian Capacity Offer taken
as a whole. For greater certainty, after the Restrictive Period, LORAL shall not be subject
in any way to any restrictions for any period with respect to its right to sell, lease or
license the Successor Canadian Capacity and/or the Other Canadian Capacity as it sees fit.

LORAL shall be entitled to make subsequent offers to BARRETT during the Restrictive Period,
and the terms of this section shall apply and such new offer shall be deemed to be a
Canadian Capacity Offer, provided, however, that any such subsequent offer will not trigger
a new Restrictive Period and the Restrictive Period will expire two (2) years from the date
of the first Canadian Capacity Offer. Upon the expiry of the Restrictive Period, BARRETT’s
rights hereunder shall expire without notice or further documentation and nothing contained
herein shall thereafter fetter or restrict the right of LORAL to sell, lease or license the
Successor Canadian Capacity and/or the Other Canadian Capacity as it sees fit.

	4.6	 	Service Outage and Outage Credits. If after the Service Commencement Date, the Barrett
Capacity or the Gateway Service fails to meet the Minimum Performance Specifications of
Schedule 4 for a cumulative period of one hour during a 24 hour period, unless such failure is
otherwise excused in accordance with Section 4.8, there shall be deemed to have occurred a
“Confirmed Outage” of the affected Service. For the purpose of determining a Confirmed Outage
of Barrett Capacity, when a portion or all of the Gateway Service fails to meet its Minimum
Performance Specifications, that portion of the Barrett Capacity associated with and affected
by the failed Gateway Service is deemed to be unavailable and counting towards outage time of
the affected Barrett Capacity. For purposes of determining Outage Credits, each Confirmed
Outage shall be measured as commencing from the earlier to occur of (i) BARRETT’s cessation of
use of the affected Barrett Capacity and (ii) notice from BARRETT to LORAL of such outage.
Any such outage shall be deemed to have ended upon the earlier to occur of (i) BARRETT’s
resumption of use of the Barrett Capacity and (ii) notice by LORAL to BARRETT that the
affected Barrett Capacity and Gateway Service meet the applicable Minimum Performance
Specifications. No notice under this Section 4.6 of an outage, or the ending of an outage,
shall be effective unless an outage actually has occurred or actually has ended in accordance
with the applicable notice. For purposes of this Section 4.6, outages shall be determined on
a “User Beam by User Beam” basis from among the nine (9) User Beams of the Canadian Payload.
That is, outages to each of the nine (9) User Beams are separable events, and an outage to an
individual User Beam is deemed to have occurred only if the Minimum Performance Specifications
are not met for that User Beam, its associated Gateway Beam or its associated Gateway Service.

If for any particular Month during the Operating Term there is a Confirmed Outage of one or
more of the User Beams that comprise the Barrett Capacity, LORAL shall credit to BARRETT’s
next payment an “Outage Credit” that shall be determined, on a User Beam by User Beam basis.
An Outage Credit will be computed on a monthly basis for each Confirmed Outage on each User
Beam by the following formula:

Outage Credit for a User Beam comprising part of the Barrett Capacity equals:

N/M multiplied by S, multiplied by P/T;

	 	 	 
	Where

N =

M =

S =

P =

T =
	 	

the number of hours (or portion thereof after the first hour) of the Confirmed Outage of such User Beam in the Month

the number of hours in the Month

the Monthly Amount payable by BARRETT for the Barrett Capacity and Gateway Service

the MHz of the Barrett Capacity in such User Beam that was in use and became unavailable during such Confirmed Outage

the total MHz of Barrett Capacity in all User Beams at the time of the Confirmed Outage

For greater certainty in determining “N” above, if the Barrett Capacity or the Gateway
Service fails to meet the Minimum Performance Specifications of Schedule 4 for a cumulative
period of 59 minutes during a 24 hour period, no Confirmed Outage has occurred; if the
Barrett Capacity or the Gateway Service fails to meet the Minimum Performance Specifications
of Schedule 4 for a cumulative period of 72 minutes during a 24 hour period, a Confirmed
Outage in the amount of 1.2 hours has occurred.

	4.7	 	LORAL to Cure. If the Barrett Capacity fails or ceases to meet the applicable Performance
Specifications, LORAL shall use commercially reasonable efforts to cure such failure.

	4.8	 	Exclusions. Notwithstanding any provision to the contrary contained in this Agreement,
BARRETT shall not be entitled to an Outage Credit if the failure to meet the Minimum
Performance Specifications is the result of any of the following:

	 	I.	 	planned outages that result from Authorized Maintenance (as
defined below);

	 	II.	 	sun transits;

	 	III.	 	weather conditions that cause the System to exceed the
Gateway-to-Satellite or Satellite-to-Gateway link margins; and

	 	IV.	 	other unanticipated sources of interference which are outside
of LORAL’s control, other than sources of interference from other users of
ViaSat-1.

Furthermore, BARRETT shall not be entitled to any Outage Credit if, despite the failure to
meet the Minimum Performance Specifications, the System provided sufficient performance such
that BARRETT could have used during the relevant Month at least the lesser of (x) 110% of
the Barrett Capacity actually being utilized at the time of the outage and (y) 100% of the
Barrett Capacity. For certainty, this exclusion shall apply only when signals are being
transmitted and received over the Satellite and the reason for the Confirmed Outage is the
failure to meet Minimum Performance Specifications.

For the purposes of this Section 4.8, “Authorized Maintenance” means scheduled maintenance
or other preventative maintenance in relation to the System or the Service performed (i)
during regularly scheduled maintenance periods scheduled with a frequency in accordance with
industry standards (the “Maintenance Windows”), and (ii) at any other times as reasonably
requested by LORAL and approved by BARRETT, such approval not to be unreasonably withheld,
in order to maintain the System in satisfactory operating condition, to provide additional
System capacity or to protect the overall performance of the Service. LORAL shall use
reasonable commercial efforts to limit maintenance activities to the Maintenance Windows and
to minimize outages during the Maintenance Windows.

4.9 Outage Credit Claim Procedures

	 	(a)	 	LORAL shall deliver to BARRETT no later than ten (10) Days from
the last Day of each Month information from its information ticket system and
such other information as BARRETT shall reasonably require in order to
determine whether BARRETT is entitled to claim Outage Credits for the subject
Month. Provided LORAL has complied with the preceding sentence, BARRETT shall
have sixty (60) Days from the last Day of each Month (the “Outage Credit Claim
Period”) to deliver to LORAL a written claim to Outage Credits, failing which
BARRETT shall lose its entitlement to and LORAL shall have no obligation to pay
such Outage Credit.

	 	(b)	 	LORAL shall have ten (10) Business Days from the date of
receipt of a written claim for Outage Credits from BARRETT to verify the Outage
Credit claim. In the event of a dispute between the Parties with respect to
BARRETT’s entitlement to an Outage Credit or the amount of such Outage Credit,
the Parties will in good faith attempt to resolve their dispute within five (5)
Days of the date of receipt of the notice from LORAL that there is a dispute.
If the Parties are unable to resolve their dispute within the said five (5)
Days, the matter shall be escalated in accordance with Section I.6 of Schedule
1. The Parties agree that BARRETT shall continue to pay the full Monthly
Amount during any such dispute, except if the total credit amount in dispute
exceeds fifty thousand dollars ($50,000.00) in which case the Parties shall
arrange for BARRETT to pay the disputed amounts to a neutral third party to be
held in escrow until such time as the dispute has been mutually resolved by the
Parties or a court of competent jurisdiction has rendered a final judgement
with respect to the disposition of the disputed amounts from which no appeal
can be or is taken.

	 	(c)	 	Outage Credits shall be applied to BARRETT’s account within
thirty (30) Days after receipt by LORAL of BARRETT’s Outage Credit claim to
reduce the amount payable by BARRETT to LORAL in respect of any amounts payable
under this Agreement.

	 	(d)	 	If BARRETT’s accounts under this Agreement are not in good
standing (including payment of interest on all overdue amounts in accordance
with Section B.3 of Schedule 1), any Outage Credit otherwise due to BARRETT
shall be applied as follows: first to reduce any interest on overdue amounts
owed under Section B.3 of Schedule 1 beginning with interest on the oldest
amounts owed; and then, after all interest on overdue amounts has been paid, to
reduce the principal amount of any unpaid Monthly Amounts owed under Section
4.1 beginning with the oldest Monthly Amounts owed.

	 	(e)	 	The Parties agree that BARRETT shall not be entitled to receive
an Outage Credit for a Month unless the aggregate of the Outage Credits for all
User Beams for the Month is greater than one thousand dollars ($1,000).

	 	(f)	 	For certainty, the Parties agree that the total Outage Credits
due to BARRETT under this Agreement for any Month cannot exceed the Monthly
Amount (exclusive of taxes and other similar charges) for the Month in which
the Outage Credits are applicable. If there is a net credit due from LORAL to
BARRETT in any given billing Month, the net credit will be applied to the
following Month’s invoice.

	4.10	 	Extended Failures.

	 	(a)	 	Satellite Capacity Failure. For each of the material performance
specifications set forth in Exhibit B to the Satellite Contract that are applicable to
the Barrett Capacity, if the Barrett Capacity fails to meet at least eighty-five
percent (85%) of the Minimum Performance Specifications for each such performance
specification for more than twenty (20) consecutive days, or such other period as is
mutually agreed upon in writing by LORAL and BARRETT (“Satellite Capacity Failure”),
the provisions of this Agreement relative to the use of the Barrett Capacity and
Gateway Service may be immediately terminated by BARRETT by written notice to LORAL
delivered on or before the 30th Day after the Day on which the Satellite Capacity
Failure began. In the event of a Satellite Capacity Failure, if BARRETT elects to
terminate this Agreement, BARRETT’s sole and exclusive remedy shall be to have LORAL
refund to BARRETT within 30 Days of such notice an amount equal to all prepayments made
under Section 4.3 that are attributable to Service that was to be provided after the
date of the Satellite Capacity Failure and all amounts paid by BARRETT to LORAL under
Section 4.1 that are attributable to Service that was to be provided after the date of
the Satellite Capacity Failure for which BARRETT has not received the benefit of an
Outage Credit. For greater certainty, a Satellite Capacity Failure that results from a
failure of the Satellite or the Canadian Payload because of a Force Majeure shall be
governed by Section D.1 of Schedule 1.

	 	(b)	 	User Beam Capacity Failure. For each of the material performance
specifications set forth in Exhibit B to the Satellite Contract that are applicable to
any User Beam that comprises the Barrett Capacity, if any such User Beam fails to meet
at least eighty-five percent (85%) of the Minimum Performance Specifications for each
such performance specification for that User Beam for more than twenty (20) consecutive
Days, or such other period as is mutually agreed upon in writing by LORAL and BARRETT
(“User Beam Capacity Failure”), then the provisions of this Agreement relative to the
affected User Beam and associated Gateway Service only, may be immediately terminated
by BARRETT by written notice to LORAL delivered on or before the 30th day after the Day
on which the User Beam Capacity Failure began. In the event of a User Beam Capacity
Failure, if BARRETT elects to terminate the provisions of this Agreement relating to
the failed User Beam, BARRETT’s sole and exclusive remedy shall be: (i) with respect
to future payments for the Service after the date of the User Beam Capacity Failure, to
have the Monthly Amount then in effect be reduced by one-ninth (1/9th) for each User
Beam Capacity Failure and (ii) to have LORAL refund to BARRETT within 30 Days of such
notice an amount equal to the proportionate amount of all prepayments made under
Section 4.3 that are attributable to Service that was to be provided from the failed
User Beam after the date of the Satellite Capacity Failure.

ARTICLE 5.0 – REPRESENTATIONS AND WARRANTIES

	5.1	 	Representations and Warranties of the Parties. Each Party represents and warrants to the
other Party, as of the date of execution of this Agreement, as follows and acknowledges and
confirms that each other Party is relying thereon without independent inquiry in entering into
this Agreement:

	 	(a)	 	Organization and Qualification. It is a corporation, duly incorporated,
continued or amalgamated, and validly existing under the Laws of the jurisdiction of
its incorporation, continuance or amalgamation, as the case may be, and is duly
qualified, licensed or registered to carry on business under the Laws applicable to it
in all jurisdictions in which the nature of its assets or business as currently
conducted makes such qualification necessary or where the failure to be so qualified
would have a material adverse effect on its ability to perform its obligations
hereunder.

	 	(b)	 	Corporate Power. It has all requisite corporate power and authority to execute
and deliver this Agreement, to perform its respective obligations hereunder and to
consummate the transactions contemplated hereby.

	 	(c)	 	Authorizations. The execution and delivery by it of this Agreement and the
performance of its respective obligations hereunder, and the consummation by it of the
transactions contemplated hereby, have been duly authorized by all requisite corporate
action and no authorization under any applicable Law and no registration,
qualification, notification, designation, declaration or filing with any Governmental
Entity is or was necessary therefor except such as are in full force and effect.

	 	(d)	 	Execution and Binding Obligation. This Agreement has been duly executed and
delivered by it and constitutes the legal, valid and binding obligation of such Party,
enforceable against it in accordance with its terms, except insofar as enforceability
may be affected by applicable Laws relating to bankruptcy, insolvency, reorganization,
moratorium or similar Laws now or hereafter in effect affecting creditors’ rights
generally or by principles governing the availability of equitable remedies.

	 	(e)	 	No Breach or Violation. The execution and delivery of this Agreement and
performance of its respective obligations under this Agreement and compliance with the
terms, conditions and provisions hereof will not conflict with or result in a breach of
any of the terms, conditions or provisions of (i) its constating documents or by-laws;
(ii) any applicable Law; (iii) any contractual restriction binding on it or affecting
it or its properties (without regard to requirements of notice, passage of time or
elections of any Person); or (iv) any judgement, injunction, determination or award
which is binding on it.

	 	(f)	 	Legal Proceedings. There is no judgement or order outstanding, or any action,
suit, complaint, proceeding or investigation by or before any Governmental Entity or
any arbitrator pending, or to the best of its knowledge, threatened, which, if
adversely determined, would be reasonably expected to have a material adverse effect on
its ability to consummate the transactions contemplated hereby or perform its
obligations hereunder.

	5.2	 	Representations and Warranties by LORAL. LORAL represents and warrants to BARRETT, as of the
date of execution of this Agreement and continuing throughout the Term of this Agreement, as
follows and acknowledges and confirms that BARRETT is relying thereon without independent
inquiry in entering into this Agreement:

	 	(a)	 	Satellite Contract. The Satellite Contract is a valid and enforceable contract
between SS/L and ViaSat and SS/L is not, and to LORAL’s knowledge, ViaSat is not, in
default of any of its obligations thereunder.

	 	(b)	 	Beam Sharing Agreement. The Beam Sharing Agreement is a valid and enforceable
contract between LORAL and ViaSat and LORAL is not, and to LORAL’s knowledge, ViaSat is
not, in default of any of its obligations thereunder.

ARTICLE 6.0 – ADDITIONAL BARRETT OBLIGATIONS

	6.1	 	Non-interference and Use Restrictions. BARRETT’s and Users’ transmissions to and from the
Satellite shall comply, in all material respects, with all ITU, Isle of Man, FCC, Industry
Canada and all other Laws applicable to it and to them regarding the operation or use of
ViaSat-1, and the Barrett Capacity, and shall not cause interference with (to the extent
within BARRETT’s or Users’ control, and in any event BARRETT and Users will cooperate with
LORAL in attempting to eliminate such interference) the use of any other capacity on ViaSat-1
or cause physical harm to ViaSat-1 or any equipment to which BARRETT is given access pursuant
to this Agreement. BARRETT will coordinate with LORAL, in accordance with system operating
procedures reasonably established by LORAL and uniformly applied to all users of capacity on
the Canadian Payload, so as to minimize adjacent channel and adjacent satellite interference.

LORAL shall have the right to prevent BARRETT or any User from accessing the Barrett
Capacity to the extent, but only to the extent, necessary and only for the time necessary,
as reasonably determined by LORAL to prevent interference or physical harm to ViaSat-1.

	6.2	 	Permitted Use. The Barrett Capacity may be used by BARRETT and its Users’ solely for the
provision of digital communication services, but not including direct broadcast television or
video services that are, in each case, subject to the Broadcasting Act (Canada) or any other
Law that would require additional licences to be obtained by LORAL. If the Barrett Capacity
is used by BARRETT or its Users for digital communications services permitted by the previous
sentence and such use requires that LORAL obtain additional licences, BARRETT shall reimburse
LORAL for all of LORAL’s reasonable out-of-pocket costs incurred in connection with obtaining
such additional licences.

	6.3	 	Compliance with Laws. During the term of this Agreement, BARRETT shall comply with the terms
in this Agreement and shall comply in all material respects with all Laws applicable to it
regarding the operation or use of the Satellite, or BARRETT’s or Users’ use of the Barrett
Capacity.

	6.4	 	Terminals. BARRETT shall, at its own expense, be responsible for the provision,
installation, operation, maintenance of, and for securing all necessary licenses and/or
authorizations for all Terminals and related equipment, that are necessary for BARRETT’s two
way Ka-band broadband business and to use the Barrett Capacity. Without limiting the
generality of the foregoing, BARRETT shall be responsible for collecting from its Users and
remitting to Industry Canada, or its successor, any VSAT license fees that may be levied by a
Governmental Entity relating to the Terminals. BARRETT shall also configure, equip, and
operate the Terminals and all other equipment used in connection with BARRETT’s use of the
Barrett Capacity.

	6.5	 	Third-Party Use. BARRETT shall be responsible to LORAL for any User’s use or transmissions
that is/are permitted by BARRETT to the same extent as it would be for BARRETT’s own use or
transmissions and references in this Agreement with respect to BARRETT’s responsibilities to
LORAL regarding BARRETT’s use or transmissions shall be interpreted accordingly.

	6.6	 	Cooperation. BARRETT shall cooperate with LORAL in order to facilitate LORAL’s provision of
the Barrett Capacity on a continuous basis. For example (and by way of illustration and not
limitation), BARRETT shall cooperate with LORAL in trouble determination and fault isolation
activities. BARRETT shall furnish LORAL with such relevant information as LORAL may
reasonably require in order to protect the Satellite. BARRETT shall promptly notify LORAL
when it believes that a Satellite anomaly or failure has occurred.

	6.7	 	BARRETT Financial Statements. Throughout the Term, BARRETT shall deliver to LORAL (i) its
unaudited quarterly Financial Statements as soon as available but in any event no later than
sixty (60) Days after the end of each fiscal quarter; and (ii) its audited year-end Financial
Statements as soon as available but in any event no later than one-hundred and twenty (120)
Days after the end of each fiscal year accompanied by an opinion thereon of an independent
chartered accountant. The Parties acknowledge and agree that the failure to deliver the
foregoing information in the time periods set out above is not a material breach of this
Agreement, provided BARRETT has used reasonable efforts to provide such information to LORAL.
From time to time during the Term, if requested by LORAL on reasonable notice, BARRETT shall
provide to LORAL for the purpose of providing information to investors or lenders and
potential investors or lenders in or to LORAL, summary information on the business and
operations of BARRETT. For greater certainty, BARRETT shall not be required to provide any
competitively sensitive information, or confidential information that BARRETT is restricted
from providing pursuant to applicable third party confidentiality or non-disclosure
agreements, in response to a request from LORAL for information.

	6.8	 	Branding. BARRETT shall have the right to brand and market its two way Ka-band broadband
service under a name of BARRETT’s choosing. BARRETT shall not use or refer to on its website,
in any printed materials or otherwise, any LORAL equipment, satellites or any LORAL brand,
logo, emblem, design, name, trademark or other proprietary information, without LORAL’s prior
written approval, such approval not to be unreasonably withheld.

	6.9	 	Terminals. Except to the extent ViaSat waives such requirement pursuant to the terms of a
written agreement between ViaSat and LORAL, BARRETT agrees that it shall purchase or otherwise
acquire all Terminals and hub (SMTS) equipment used in connection with the Barrett Capacity
from ViaSat.

ARTICLE 7.0 – ADDITIONAL LORAL OBLIGATIONS

	7.1	 	License Matters. LORAL, at its own expense, shall obtain and maintain or cause others to
obtain and maintain all spacecraft authorizations (including, but not limited to, licenses to
construct, launch, test and operate the Satellite), landing rights necessary for operation of
the Barrett Capacity from the Orbital Position in Canada (to the extent provided below), and
licenses necessary for the Gateway Service and operating the TT&C (tracking, telemetry, and
command) ground stations for the Satellite.

	7.2	 	Canadian Landing Rights. LORAL will undertake commercially reasonable efforts to obtain or
cause others to undertake commercially reasonable efforts to obtain from Industry Canada on a
timely basis the addition of the Satellite to the list of satellites authorized to provide
service in Canada (the “Canadian Landing Rights”) and to maintain the Canadian Landing Rights
during the Operating Term. LORAL will keep BARRETT informed on a timely basis of any
regulatory requirements associated with the Canadian Landing Rights and progress in satisfying
the same, and BARRETT will cooperate fully with LORAL and will take such actions in respect
thereof for the benefit of all Parties as LORAL may reasonably request from time to time. For
the avoidance of doubt, (i) LORAL’s responsibility with respect to Canadian Landing Rights is
only for satellite landing rights (the addition of the Satellite to the list of satellites
authorized to provide service in Canada) and the operation of the Gateway Service, and (ii)
complying with regulatory requirements for the transmission of signals to/from the Terminals
(other than the Gateway Service) is solely the responsibility of BARRETT.

	7.3	 	Cooperation. LORAL shall cooperate with BARRETT in matters where BARRETT’s use of the
Barrett Capacity requires input or cooperation from the Satellite and/or Canadian Payload
owner. For example (and by way of illustration and not limitation), if BARRETT is applying
for a license or dealing with a potential lender or customer and the regulatory authority,
lender or User requires confirmation of the Satellite owner and/or Canadian Payload owner that
BARRETT has the usage rights specified hereunder, LORAL shall cooperate with BARRETT and
furnish or take commercially reasonable steps to cause others to furnish such relevant
information as may reasonably be required.

	7.4	 	Additional Covenants. LORAL covenants to BARRETT that LORAL shall throughout the Term:

	 	(a)	 	use commercially reasonable efforts to, or to cause others to operate and
maintain the Canadian Payload at the Orbital Position;

	 	(b)	 	provide, control, operate and maintain the System in a timely and professional
manner in accordance with the Description of Service contained in Schedule 2, in
accordance with the Minimum Performance Specifications contained in Schedule 4 and in
accordance with the interface control document attached hereto as Schedule 5;

	 	(c)	 	notify BARRETT of any problems or issues, or reasonably anticipated problems or
issues, with the Service known or that become known to LORAL which are likely to
materially affect the Service; and

	 	(d)	 	perform all services and obligations under this Agreement, including Authorized
Maintenance, in a professional manner in accordance with industry standards.

	7.5	 	Compliance with Laws. During the term of this Agreement, LORAL shall comply with the terms
in this Agreement and shall comply in all material respects with all Laws applicable to it
regarding the operation or use of the Satellite.

ARTICLE 8.0 – MISCELLANEOUS

	8.1	 	Liabilities in Event of Termination.

The termination or expiration of this Agreement will in no way limit any obligation or
liability of either Party based on or arising from a breach or default by such Party with
respect to any of its representations or warranties contained in this Agreement, or with
respect to any of its covenants or agreements contained in this Agreement which by their
terms were to be performed prior to the date of termination or expiration, nor shall any
such termination or expiration release either Party from any liabilities or obligations that
by their nature are intended to survive such termination or expiration, including those
under Section E.3, Section F.6, Section F.7 and Section G of Schedule 1.

	8.2	 	General Rights and Remedies. Subject to the exclusions and limitations of liability in
Schedule 1, in the event any representation or warranty of any Party contained in this
Agreement shall prove to have been incorrect in any material respect when made or deemed to
have been made or if any Party fails to perform, observe or comply with any of its covenants
or agreements contained in this Agreement, the other Party will be entitled to whatever rights
or remedies are available at law or in equity.

	8.3	 	U.S. International Traffic in Arms Regulations — U.S. Export Control Restrictions.
Notwithstanding anything in the Agreement to the contrary: (a) the Parties acknowledge and
agree that if (i) BARRETT is a “Foreign Person or Entity” (as defined below), (ii) this
Agreement is assigned by BARRETT to a “Foreign Person or Entity” (as defined below) or (iii)
BARRETT otherwise requests that LORAL provide information to a Foreign Person or Entity (as
BARRETT shall disclose in its request, to the best of its knowledge), LORAL’s disclosure of
information under the Agreement shall be subject to compliance with the laws, rules and
regulations of the United States regarding export restrictions (“U.S. Export Laws”), and that
such U.S. Export Laws may prohibit, limit or delay LORAL’s ability to disclose information as
otherwise required under this Agreement; and (b) to the extent that any information disclosed
by LORAL to BARRETT under the Agreement is subject to U.S. Export Laws (including, without
limitation, the International Traffic in Arms Regulations, 22 CFR §§ 120-130 (“ITAR”)),
BARRETT shall handle such information in compliance with the applicable U.S. Export Laws and
shall not disclose, transfer or otherwise export (as defined in ITAR § 120.17) such
information to any foreign individual (including employees of BARRETT), foreign corporation
(including subsidiaries or Affiliates of BARRETT), foreign government or other foreign person
(as defined in ITAR § 120.16), collectively herein, a “Foreign Person or Entity”, except as
authorized by the applicable U.S. Export Control Law or by written authorization of the U.S.
government. This section shall survive the termination of the Agreement for any reason.

	8.4	 	Parties Obligated and Benefitted. This Agreement will be binding upon the Parties and their
respective permitted assigns and successors in interest and will enure solely to the benefit
of the Parties and their respective permitted assigns and successors in interest, and no other
Person will be entitled to any of the benefits conferred by this Agreement or to rely on the
provisions hereof in any action, suit, proceeding, hearing or other forum. No Party shall
assign any of its rights under this Agreement without the prior written consent of the other
Party, such approval not to be unreasonably withheld, provided that either Party may, without
the consent of the other Party, assign its rights and obligations hereunder to:

	 	(a)	 	any Affiliate;

	 	(b)	 	any successor Person in connection with a bona fide reorganization of its
business;

	 	(c)	 	the insurer of its interest in the Satellite and/or the Canadian Payload upon
the occurrence of a constructive total loss within the meaning of any applicable
constructive total loss insurance policy; or

	 	(d)	 	to a secured creditor pursuant to a general security agreement or general
credit arrangement (including in the case of BARRETT, granting a security interest
and/or making an assignment to MG Stratum Fund III, Limited Partnership for the purpose
of securing the credit facility provided by MG Stratum Fund III, Limited Partnership to
BARRETT);

provided that (i) the non-assigning Party is given fifteen (15) Days prior written
notice of the proposed assignment or reorganization, as the case may be, and (ii) the
proposed assignee executes and delivers an assumption agreement pursuant to which the
transferee assumes the obligations of the assigning Party hereunder in form and
substance satisfactory to the other Party, acting reasonably.

Notwithstanding any such assignment of this Agreement or of a Party’s rights and obligations
hereunder, unless the other Party otherwise agrees, the assigning Party shall remain liable
hereunder to the other Party to the same extent as if such assignment had not occurred in
the event that and to the extent that the assignee fails to fully perform the assignor’s
obligations hereunder. Each Party agrees with the other that it shall release the rights
and obligations of the assignor under this Agreement in the event the assignment: (i) is for
the purposes of a bona fide internal tax restructuring, (ii) the assignor transfers all or
substantially all of its assets to an assignee that is an Affiliate, and (iii) the assignee
immediately after the assignment is in no worse a position than the assignor immediately
before the assignment to meet the obligations of the assignor under this Agreement.

Notwithstanding the foregoing provisions of Section 8.4, BARRETT may assign this Agreement
to BARRETT’s principle creditor for the purpose of securing Barrett’s credit facility (such
principle creditor being MG Stratum Fund III, Limited Partnership as of the date of
execution of this Agreement), provided that such principle creditor assumes all of BARRETT’s
obligations under this Agreement.

Notwithstanding the foregoing provisions of Section 8.4, BARRETT and LORAL acknowledge and
agree that, at LORAL’s request and with the agreement of BARRETT (such agreement not to be
unreasonably withheld), LORAL may assign its rights and delegate its obligations regarding
the provision of Gateway Service hereunder to a wholly-owned subsidiary of LORAL that is
organized in Canada and that LORAL may assign its rights and delegate its obligations
regarding the provision and lease of the Barrett Capacity hereunder to a wholly-owned
subsidiary of LORAL that is organized in the United States. In the event that LORAL wishes
to effect such assignments, BARRETT agrees to cooperate with LORAL and to enter into two
separate agreements with such subsidiaries that will replace this Agreement provided that
BARRETT is in no worse a position than it was immediately before such assignments.

	8.5	 	Notices. Any notice, request, demand, waiver or other communication required or permitted to
be given under this Agreement will be in writing and will be deemed to have been duly given
only if delivered in person or by first class, prepaid, registered or certified mail, or sent
by courier or by overnight delivery service, or, if receipt is confirmed, by fax:

	 	 	 	 	 	 	 
	Loral Space & Communications Inc.	 	Barrett Xplore Inc.
	600 Third Avenue	 	 	 	Suite 100, 625 Cochrane Drive

	New York, New York

U.S.A. 10016
	 	 	 	Markham, Ontario

Canada L3R 9R9

	 	

	Telephone:

Fax:

Attention:
	 	(212) 338-5340

(212) 338-5320

Senior Vice President,

General Counsel and Secretary
	 	Telephone:

Fax:

Attention:

	 	(905) 513-9757

(866) 376-6940

Vice President, General Counsel

Either Party may change the address to which notices are required to be sent by giving
notice of such change in the manner provided in this Section. All notices will be deemed to
have been received on the date of delivery or on the third Business Day after mailing or the
next Business Day, if sent by overnight courier, in accordance with this Section, except
that any notice of a change of address will be effective only upon actual receipt.

	8.6	 	Expenses. Except as otherwise expressly provided in this Agreement, all costs and expenses
(including the fees and disbursements of legal counsel) incurred in connection with this
Agreement and the transactions contemplated herein shall be paid by the Party incurring such
costs and expenses.

	8.7	 	Governing Law.

	 	(a)	 	This Agreement shall be governed by and interpreted and enforced in accordance
with the Laws of the State of New York applicable therein.

	 	(b)	 	Each of the Parties hereby: (i) irrevocably submits to the jurisdiction of any
court of competent jurisdiction sitting in the State of New York over any suit, action
or proceeding arising out of or relating to this Agreement; (ii) irrevocably agrees
that all claims in respect of any such suit, action or proceeding relating to this
Agreement may be heard and determined in such court; (iii) irrevocably waives, to the
fullest extent permitted by Law, any objection which it may have or hereafter have to
the laying of the venue of any such suit, action or proceeding brought in such a court
and any claim that any such suit, action or proceeding brought in such a court has been
brought in an inconvenient forum; and (iv) irrevocably agrees that a final judgement in
any such action or proceeding shall be conclusive and may be enforced in any manner
provided by Law.

	 	(c)	 	Nothing in this Section shall affect the right of the Parties to serve process
in any manner permitted by Law or, except as otherwise provided under Section 8.7(b),
limit the right of a Party to bring proceedings against the other Party in the courts
of any other jurisdiction.

	 	(d)	 	Nothing in this Section shall constitute a waiver by either Party of any right
to: (i) appeal any order or judgement referred to herein; (ii) seek any stay or
reconsideration or review of any such order or judgement; or (iii) seek any stay of
execution or levy pending any appeal from, or a suit, action or proceeding for
reconsideration or review of, any such order or judgement.

	8.8	 	Press Releases. No press release, announcement or disclosure to a third party concerning the
transactions contemplated hereby will be made by any Party hereto without the prior written
consent of the other Party hereto, except as such release, announcement or disclosure: (a) may
be required by law or regulation, or the rules of any applicable securities exchange; (b) may
be necessary to be made to a Party’s lenders for financing purposes provided that such lenders
agree to maintain the confidentiality of any such disclosed information on customary and
reasonable terms; or (c) is or becomes publicly known, other than as a consequence of a breach
of this Agreement. Any proposed release to be made pursuant to the foregoing shall, unless
not practicable in circumstances where a release is required by Law, first be provided to the
non-releasing Party for review and comment. The releasing Party shall reasonably and in good
faith consider comments made by the non-releasing Party.

	8.8	 	Counterparts. This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original and all of which, taken together, shall constitute one and the
same instrument.

[Signature Page Follows]

1

IN WITNESS WHEREOF each of the Parties hereto has duly executed this Agreement under the hands
of its proper officers duly authorized in that behalf as of the day and year first above written.

	 	 	 	 	 	 	 
	BARRETT XPLORE INC.	 	LORAL SPACE & COMMUNICATIONS INC.
	/s/ John Maduri
	 	/s/ Michael B. Targoff
	Name:

Title:

	 	John Maduri

Chief Executive Officer
	 	Name:

Title:
	 	Michael B. Targoff

Chief Executive Officer

2

Schedule 1

Standard Terms and Conditions

A. GENERAL

	1.	 	This Schedule contains the standard terms and conditions which are applicable to the Service.

B. PAYMENT

	1.	 	Unless otherwise specified in the Agreement, non-recurring charges and any other amounts
owing in connection with the Service and/or this Agreement shall be paid within thirty (30)
Days of the billing date.

	2.	 	All amounts owing by BARRETT shall be paid to the Payment Account by wire transfer in
immediately available funds prior to 4:00 p.m. (New York time) on the payment date.

	3.	 	Interest at a compound rate of 1.5% per Month (19.56% per annum), shall be charged on any
overdue account both before and after judgment.

	4.	 	Whenever any payment hereunder shall be stated to be due on a day other than a Business Day,
such payment shall be made and considered to be due on the next succeeding Business Day.

C. EXCLUDED CHARGES

	1.	 	The amounts due and payable to LORAL are exclusive of all federal, provincial, state and
municipal taxes, fees, contributions and other charges directly related to the Service
provided by LORAL. BARRETT shall be responsible for the payment of any such taxes, fees,
contributions and for other charges imposed by any Governmental Entity in Canada or in the
U.S.A. with respect to the Service or charges payable by BARRETT under the Agreement.

	D.	 	FORCE MAJEURE

	1.	 	Subject to Sections 2.4 and 4.10, a Party shall not be held liable or deemed to be in default
of a provision of this Agreement during the period of any Force Majeure which prevents such
Party from performing its obligations under such provision. Notwithstanding the foregoing,
BARRETT shall pay for Service received but shall not be liable for any payment delays
resulting from its inability to access, transfer or convey funds due to the Force Majeure
(e.g., banks are closed due to Force Majeure). Each Party shall use reasonable commercial
efforts to remedy or resolve any Force Majeure claimed by such Party to excuse its
performance. Notwithstanding the foregoing or any provision to the contrary contained in the
Agreement, in the event of a failure of the Satellite or Canadian Payload (other than a
Fundamental Failure which shall be governed by Section 2.4 of the Agreement), the Service
shall come to an end without any Party being liable to the other, except that BARRETT shall be
liable for Service received, LORAL shall be liable for the Service provided up to the time of
the failure, and LORAL shall refund to BARRETT an amount equal to all prepayments made under
Section 4.3 that are attributable to Service that was to be provided after the date of the
Satellite or Canadian Payload failure. For greater certainty, a Satellite Capacity Failure
that does not result from a failure of the Satellite or the Canadian Payload shall be governed
by Section 4.10(a) of the Agreement. The foregoing, however, is in no way intended to release
the Parties from their obligations hereunder which by their nature would be intended to
survive the termination of this Agreement or required to be performed prior to the termination
date.

	E.	 	TERMINATION

	1.	 	BARRETT may, on twenty (20) Days prior written notice, terminate this Agreement if:

	 	a)	 	LORAL fails to obtain and maintain the licenses and authorizations for which it is
responsible pursuant to this Agreement (including without limitation the Canadian Landing
Rights);

	 	b)	 	LORAL breaches a material term or covenant of this Agreement and fails to cure such
breach within ten (10) Days written notice by BARRETT of such breach, provided that in the
event LORAL has undertaken the necessary steps to cure such breach, which cannot be
reasonably cured within ten (10) Days, and is diligently pursuing the same, the period for
such cure shall be extended to a maximum of thirty (30) Days in total;

	 	c)	 	LORAL institutes or has instituted against it any proceeding (which is not dismissed or
stayed within 30 days) seeking: (1) to adjudicate it bankrupt or insolvent; (2) any
liquidation, winding-up, reorganization, arrangement, adjustment, protection, relief or
composition of it or its debts under any Laws relating to bankruptcy, insolvency or
reorganization or relief of debtors; or (3) the entry of an order for relief or the
appointment of a receiver, trustee or other similar official for it or for any substantial
part of its assets; or

	 	d)	 	LORAL takes any corporate action to authorize any of the foregoing actions in clause (c).

	2.	 	In addition to any other termination rights contained in this Agreement, LORAL may, on twenty
(20) Days prior written notice, terminate this Agreement if:

	 	a)	 	BARRETT fails to pay any amounts due under this Agreement within five (5) Business Days
of written notice from LORAL that payments are overdue;

	 	b)	 	BARRETT breaches a material term or covenant of this Agreement (other than non-payment of
amounts due hereunder) and fails to cure such breach within ten (10) Days written notice by
LORAL of such breach, provided that in the event BARRETT has undertaken the necessary steps
to cure such breach, which cannot be reasonably cured within ten (10) Days, and is
diligently pursuing the same, the period for such cure shall be extended to a maximum of
thirty (30) Days in total;

	 	c)	 	BARRETT fails to obtain and maintain the licenses and authorizations for which it is
responsible pursuant to this Agreement;

	 	d)	 	BARRETT institutes or has instituted against it (and not dismissed or stayed within 30
days) any proceeding (which is not dismissed or stayed within 30 days) seeking: (1) to
adjudicate it bankrupt or insolvent; (2) any liquidation, winding-up, reorganization,
arrangement, adjustment, protection, relief or composition of it or its debts under any Laws
relating to bankruptcy, insolvency or reorganization or relief of debtors; or (3) the entry
of an order for relief or the appointment of a receiver, trustee or other similar official
for it or for any substantial part of its assets; or

	 	e)	 	BARRETT takes any corporate action to authorize any of the foregoing actions in clause
(d).

	3.	 	Upon expiration of this Agreement or termination of this Agreement by either Party:

	 	a)	 	BARRETT shall cease using all LORAL brands, logos, emblems, designs, names, trademarks or
proprietary information; and

	 	b)	 	BARRETT shall remove any and all equipment owned by it and installed at LORAL facilities
used in relation to the Service.

	F.	 	LIMITATION OF LIABILITY

	1.	 	Except as expressly set forth in the Agreement, LORAL neither represents nor warrants that
the Service will be capable of achieving any specific results for BARRETT or Users. BARRETT
acknowledges that LORAL does not warrant uninterrupted or error free Service. BARRETT
covenants and agrees that, except for such warranties or conditions which are expressly
stipulated in this Agreement, any and all express or implied warranties or conditions with
respect to the Service, the System, or any part thereof, their condition, durability or
suitability for any particular use, including warranties or conditions of durability,
merchantability or fitness for any particular purpose or use, whether expressed or implied by
contract, tort (including negligence and strict liability), statute or other legal theory, are
expressly excluded and disclaimed.

	2.	 	Except as otherwise provided in Sections 2.4 and 4.10 of the Agreement, LORAL’s sole and
exclusive liability for a failure or interruption of the Service and/or the System or any
breach of this Agreement shall be the Outage Credits payable pursuant to Section 4.6 of this
Agreement. Without limiting the generality of the foregoing, except for Sections 2.4 and 4.10
of the Agreement and the Outage Credits, LORAL shall have no liability under this Agreement
for any losses, damages, expenses or injuries, whether under contract, tort (including without
limitation, negligence and strict liability), by statue, other legal theory or otherwise,
arising out of the performance, non-performance or improper performance by LORAL of this
Agreement, the Service or the System or any acts or omissions associated herewith or therewith
or out of the actions or omissions of LORAL or LORAL’s representatives, consultants or
subcontractors in the procurement, review of the design and/or construction, testing and
operation of the Service, the System, or any part thereof.

	3.	 	Without prejudice to the Parties’ rights contained in Section I.2 of this Schedule 1,
notwithstanding anything else contained in this Agreement (except Section F.11 of Schedule 1),
LORAL shall not be liable directly or indirectly to BARRETT, any User or any third party for
any amounts (including any such amounts claimed by third parties) representing indirect,
special, exemplary, incidental, consequential or punitive damages, whether foreseeable or not,
arising from the performance, non-performance or improper performance of this Agreement, the
Service, the System, or any part thereof or any acts or omissions associated herewith or
therewith or related to the use of any hardware, software or Service furnished hereunder, or
occasioned by any defect in the Service, the System, or any part thereof, delay in delivery of
the Service, failure of the System to perform or any other cause whatsoever, whether the basis
of the liability is breach of contract, tort (including negligence and strict liability),
statute or other legal theory.

	4.	 	All rights, defences and immunities whatsoever available to LORAL shall also extend to
LORAL’s shareholders, directors, officers, employees and agents acting in the course of or in
connection with their employment or agency and, for the purpose of this Section F, LORAL shall
be deemed to be acting as agent or trustee on behalf of and for the benefit of all such
persons.

	5.	 	BARRETT shall use its reasonable commercial efforts when negotiating agreements with Users
and other parties having a financial interest in the operation and use of the Service to
obtain such party’s agreement to a limitation of liability equivalent to this Section F with
respect to the other party; provided however, that BARRETT shall not have any liability to
LORAL for its failure to obtain such limitations of liability.

	6.	 	BARRETT shall indemnify and save harmless LORAL, its directors, officers, employees, and
agents or any of them from and against:

	 	a)	 	losses, damages, costs, expenses or liabilities arising as a result of claims, actions
or proceedings alleging the infringement of any patent, trade-mark, copyright, or design,
or unauthorized use of proprietary technical information in respect of the facilities of
BARRETT, its agents or contractors, which are used in conjunction with the Service and/or
the System;

	 	b)	 	losses, damages, costs, expenses, liabilities and claims arising out of an act or
omission of BARRETT’s shareholders, directors, officers, employees, agents, contractors,
and/or Users in respect of the use of the Service and/or the System;

	 	c)	 	any and all claims, costs, expenses, fines, penalties (including legal fees and expert
witness fees), liabilities and damages of any nature, resulting from third party claims and
arising from the content of any communications which are transmitted or received by BARRETT
or Users using the Service and/or the System, including but not limited to breaches of
defamation, copyright, passing off, unfair competition laws, or any communication
transmitted in Canada that is “obscene” as defined by the Canadian Criminal Code;
and

	 	d)	 	any and all claims of any User relating to the provision of Service under this
Agreement;

provided that in each case LORAL provides BARRETT with prompt written notice of any claim or
action for which indemnification is sought. BARRETT shall be entitled to have control over the
defence provided it (i) retains experienced legal counsel to conduct the defence of such claim,
and (ii) defends the claim in a diligent and timely manner, failing which, LORAL shall be
entitled to have control of the defence, acting reasonably, and indemnification by BARRETT for
legal fees in accordance with this Section F.6. LORAL and BARRETT shall cooperate with each
other with respect to the defence of the claim or action. Neither LORAL nor BARRETT shall
settle or compromise any claim or action without the prior written consent of the other, such
consent not to be unreasonably withheld.

	7.	 	LORAL shall indemnify and save harmless BARRETT, its directors, officers, employees, and
agents or any of them from and against:

	 	a)	 	losses, damages, costs, expenses or liabilities arising as a result of claims, actions
or proceedings alleging the infringement of any patent, trade-mark, copyright, or design,
or unauthorized use of confidential or proprietary technical information which are used in
conjunction with the Service and/or the System; and

	 	b)	 	damage to any Barrett Gateway Equipment, and for injury to or death of any person,
including employees or agents of BARRETT and any third parties, sustained while present in
a Gateway, resulting from any willful misconduct or gross negligence of LORAL or its
agents.

provided that in each case BARRETT provides LORAL with prompt written notice of any claim or
action for which indemnification is sought. LORAL shall be entitled to have control over the
defence provided it (i) retains experienced legal counsel to conduct the defence of such claim,
and (ii) defends the claim in a diligent and timely manner, failing which, BARRETT shall be
entitled to have control of the defence, acting reasonably, and indemnification by LORAL for
legal fees in accordance with this Section F.7. BARRETT and LORAL shall cooperate with each
other with respect to the defence of the claim or action. Neither BARRETT nor LORAL shall
settle or compromise any claim or action without the prior written consent of the other, such
consent not to be unreasonably withheld.

	8.	 	Except with respect to BARRETT’s obligations contained in Section F.6 of this Schedule 1, and
except as otherwise expressly provided for in this Agreement and without prejudice to the
Parties’ rights contained in Section I.2 of this Schedule 1, BARRETT shall not be liable
directly or indirectly to LORAL or any third party for any amounts (including any such amounts
claimed by third parties) representing indirect, special, exemplary, incidental, consequential
or punitive damages, whether foreseeable or not, arising from the performance, non-performance
or improper performance of this Agreement, or any acts or omissions associated herewith or
therewith or any other cause whatsoever, whether the basis of the liability is breach of
contract, tort (including negligence and strict liability), statute or other legal theory.

	9.	 	All rights, defences and immunities whatsoever available to BARRETT shall also extend to
BARRETT’s shareholders, directors, officers, employees, Users and agents acting in the course
of or in connection with their employment or agency and, for the purpose of this Section F,
BARRETT shall be deemed to be acting as agent or trustee on behalf of and for the benefit of
all such persons.

	10.	 	BARRETT and LORAL shall each procure and maintain in full force and effect, a comprehensive
general liability insurance policy(ies) with blanket, contractual liability, non-owned auto
liability, and completed operations liability insurance endorsements and cross-liability and
severability of interests clauses covering both Parties against legal liability arising from
bodily injury, death, personal injury or property damage or otherwise arising out of a Party’s
performance of this Agreement. Such policy(ies) shall be written by responsible and reputable
licensed insurance company(ies) with a combined single limit of $2,000,000 per occurrence. At
the written request of a Party, the other shall furnish the requesting Party with a
certificate(s) of such insurance.

	11.	 	Notwithstanding any provision to the contrary contained in this Agreement (including this
Section F), any limitation on the liability of a Party contained in this Agreement shall have
no application to that Party if and to the extent that damages (whether direct or
consequential) arise or result from that Party’s wilful misconduct.

	 	 	G USE OF INFORMATION

	1.	 	Disclosure of Information.

It is recognized that proprietary and/or confidential information may be disclosed by one Party
to the other in the course of the activities contemplated by this Agreement and that the
disclosing Party may desire to protect such information against unrestricted use or disclosure
to others. It is further recognized that the Parties have executed a Non-Disclosure Agreement
dated December 21, 2009 covering disclosure of information in connection with the execution and
performance of this Agreement and any related agreements. The rights and obligations under such
Non-Disclosure Agreement shall apply to all proprietary or confidential information disclosed in
the implementation or performance of this Agreement. This Section shall survive the termination
or expiration of this Agreement

	2.	 	Trademarks.

Neither Party shall have or acquire any right, title or interest in the copyrights, trademarks,
trade names or goodwill of the other Party except with the prior written consent of such other
Party. Notwithstanding the foregoing, LORAL shall comply with all reasonable requests by
BARRETT to use LORAL trademarks and logos in the promotional materials of BARRETT to identify
the Service as a service provided by LORAL.

	H.	 	INTENTIONALLY DELETED

	 	 	I GENERAL TERMS AND CONDITIONS

	1.	 	Non-Performance.

Any delay or omission by a Party in the enforcement of any provision of this Agreement shall not
affect the right of such Party to thereafter enforce the same provision. Nor shall the waiver
by a Party of any breach of this Agreement: (1) be taken or held to be binding by the other
Party, unless such waiver is in writing; or (2) be taken or held to be a waiver of any future
breach of the same provision or prejudice the enforcement of any other provision.

	2.	 	Rights Cumulative.

All rights and remedies of each of the Parties under this Agreement will be cumulative, and the
exercise of one or more rights or remedies will not preclude the exercise of any other right or
remedy available under this Agreement or applicable Law. The Parties agree that each of them
shall have the right to seek to obtain specific performance and injunctive relief in order to
prevent the other Parties from wilfully breaching their respective obligations under this
Agreement or to seek to compel the other Party to perform their respective obligations under
this Agreement.

	3.	 	Joint Venture.

The provision of service by LORAL does not establish any joint undertaking, joint venture or
partnership between LORAL and BARRETT.

	4.	 	Time.

Time is of the essence under this Agreement. If the last Day permitted for the giving of any
notice or the performance of any act required or permitted under this Agreement falls on a Day
that is not a Business Day, the time for the giving of such notice or the performance of such
act will be extended to the next succeeding Business Day.

	5.	 	Further Actions.

The Parties will execute and deliver to the other, from time to time during the Term, for no
additional consideration, such further certificates, instruments, records, documents, assurances
or things as may reasonably be necessary to give full effect to this Agreement and to allow each
Party fully to enjoy and exercise the rights accorded to it under this Agreement, if such
requested further action will not impose any additional material expense or obligation on the
Party from whom such further action is requested.

	6.	 	Settlement of Disputes.

If any disagreement arises between the Parties as to the interpretation or construction of this
Agreement or any of its terms or any other matter related to the operation of this Agreement
(other than in relation to proprietary information), then either Party shall give written notice
to the other Party by service upon the responsible Vice-President of the other Party of its
objections and the reasons therefor. If such persons cannot resolve the issue within fifteen
(15) Days, the positions of the Parties shall be forwarded to LORAL’s Chief Executive Officer
and to BARRETT’s Chief Executive Officer for resolution. If a mutually satisfactory agreement
cannot be reached by them within fifteen (15) Days of the dispute being referred to them, either
Party may then commence such legal action or proceedings as it, in its sole discretion, may deem
expedient.

	7.	 	Severability.

Any Article, Section, Item or other subdivision of this Agreement or any other provision of this
Agreement which is, or becomes illegal, invalid or unenforceable shall be severed from this
Agreement and be ineffective to the extent of such illegality, invalidity or unenforceability
and shall not affect or impair the remaining provisions hereof or thereof.

	8.	 	Legal Review

Each Party acknowledges that it and its legal counsel have reviewed and participated in settling
the terms of this Agreement, and the Parties agree that any rule of construction to the effect
that any ambiguity is to be resolved against the drafting Party shall not be applicable in the
interpretation of this Agreement.

	9.	 	Non-Solicitation

	 	a)	 	Each Party acknowledges and agrees that it will not during the Term of this Agreement,
directly or indirectly, solicit the employment of, employ or otherwise retain the services
of any of another Party’s employees assigned to a substantial role in the performance of
this Agreement without prior written approval of the other Party, provided that nothing
shall prevent a Party employing any person who responds to a general solicitation for
employees contained in any publication or advertising.

	 	b)	 	Each Party agrees that the scope of its covenant in Section I.9(a) of this Schedule 1
is in all respects and, particularly, in respect of area, time and subject matter no more
than reasonable to protect the other Party. Each Party also agrees that if any such
limitation is found to be unreasonable by a court, then the Parties shall be bound by such
reduced limitation as the court deems to be reasonable; provided that if the scope of this
Section I.9 cannot be reduced to such extent that it would be enforceable, this Section
I.9 will be severed from this Agreement and the remainder of this Agreement will continue
in full force and effect.

—oo0oo—

3EX-10.1

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (this “Agreement”), effective as of January 1, 2010 (“Effective
Date”) is entered into by and between Double Eagle Petroleum Co., a Maryland corporation (the
“Company”), and Ashley Jenkins (“Employee”). The Company and Employee are collectively referred to
as the “Parties”.

W I T N E S S E T H:

WHEREAS, in order to establish the rights, duties and obligations of the Parties, the Company
and Employee desire to enter into a binding agreement regarding the employment of Employee;

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements set
forth herein, the Parties, intending to be legally bound, hereby agree as follows:

ARTICLE ONE

POSITION & DUTIES

1.1 Title.

Employee shall serve as Vice President and Controller and agrees to perform services for the
Company and such other affiliates of the Company, as described herein.

1.2 Term.

Employee’s employment shall be for an initial term commencing on the Effective Date through
December 31, 2010 (the “Term”), subject to the termination provisions herein. Employee hereby
agrees to be engaged by the Company for the Term in such capacity. This Agreement shall
automatically renew for a term of one (1) year unless this Agreement is superseded by a new
agreement, or unless notice of non-renewal is delivered in writing by the Company at least sixty
(60) days prior to the end of the term then in effect, or unless this Agreement is otherwise
terminated pursuant to the provisions hereof. Each renewal agreement shall have a one-year term and
will not include the equity grants set forth in Section 2.2. A notice of non-renewal of this
Agreement by the Company to Employee shall give rise to the severance benefits described in
paragraph 3.5 a. below pursuant to the terms and conditions set forth therein, unless the Company
gives notice of termination for cause pursuant to Section 3.2 a. and Section 3.3 of this Agreement.
If this Agreement is terminated for cause, there are no severance benefits. Bonuses, if any,
shall not be deemed to be accrued or part of any severance package unless and until the Board of
Directors has declared and awarded the particular bonus to the particular Employee.

1.3 Duties and Responsibilities.

Employee shall perform the tasks consistent with the office or position designated herein and
such other reasonable tasks directed by the position’s direct supervisor, by the CFO of the
Company, or by the Board of Directors of the Company. Employee hereby covenants and agrees to
perform the services for which he is hereby retained in good faith and with reasonable diligence in
light of attendant circumstances.

1.4 Performance of Duties.

During the term of the Agreement, except as otherwise approved by the CFO, the Board of
Directors or as provided below, Employee agrees to devote his full business time, effort, skill and
attention to the affairs of the Company and its subsidiaries, will use his best efforts to promote
the interests of the Company, and will discharge his responsibilities in a diligent and faithful
manner, consistent with sound business practices. The foregoing shall not, however, preclude
Employee from devoting reasonable time, attention and energy in connection with other activities,
provided that any such other activities do not interfere with the performance of his duties and
services hereunder and do not conflict with the business interests of the Company, and further
provided that Employee’s participation in those other activities is approved by the Board of
Directors.

1.5 Reporting Location.

For purposes of this Agreement, Employee’s reporting location shall be 1675 Broadway, Suite
2200, Denver, Colorado, which shall include the metropolitan area within a 60 mile radius from the
Company’s current office at that location.

ARTICLE TWO

COMPENSATION

2.1 Base Salary.

As compensation to Employee for the performance of his duties or obligations under this
Agreement, Company shall pay Employee a base salary (the “Base Salary”) of ONE HUNDRED FIFTY
THOUSAND AND NO/100 DOLLARS ($150,000.00) annually, payable, at the election of the Company, in
monthly or semi-monthly installments subject to all federal, state, and municipal withholding
requirements. The Base Salary shall be prorated for any partial calendar month of employment.

2.2 Equity Grants on the Execution Date.

a. Execution Date. As used in this Agreement, the term “Execution Date” shall mean the date
on which both the Company and Employee have delivered (by U.S. mail, hand delivery, electronic mail
or facsimile) a signed copy of this Agreement to the Company.

b. Restricted Stock. On the Execution Date, the Company shall grant to Employee 20,331 shares
of the Company’s restricted common stock (the “Restricted Shares”). Twenty percent of the
Restricted Shares shall vest on January 1, 2010 and an additional 20% shall vest on January 1, date
of each of the following four years. Except as otherwise set forth in paragraphs 3.1 and 3.5 a.,
if Employee’s employment with the Company terminates for any reason, then any unvested Restricted
Shares will be forfeited by Employee and cancelled by the Company.

c. Stock Options. On the Execution Date, the Company shall grant to Employee options (the
“Options”) to purchase 44,880 shares of the Company’s common stock, at an exercise price equal to
the closing price of the Company’s common stock on the NASDAQ Global Select Market as of the
Execution Date. Twenty percent of the Options shall vest, and become exercisable on January 1,
2010 and an additional 20% shall vest and become exercisable on January 1 of each of the following
four years. The terms of the option plan under which the Options are issued provide that the
Options expire 90 days after termination of Employee’s employment for any reason. Otherwise, the
Options will expire seven years from the Execution Date.

2.3 Bonus Awards within Discretion of Board.

In addition to receiving the Base Salary described in Section 2.1 and the equity grants
described in Section 2.2, Employee may, in the sole discretion of the Board of Directors, be
awarded such cash and/or non-cash bonuses (including stock options, restricted stock or any
combination of cash and non-cash components) from time to time as are approved by the Compensation
Committee of the Board of Directors (the “Compensation Committee”) or by the Board of Directors
directly. The yearly cash bonus target will range between 0% and 35% of the amount of Employee’s
Base Salary paid for that year, unless the Compensation Committee or the Board of Directors
determines otherwise. Any bonus under this Section 2.3 will be paid to Employee no later than
March 15 of the calendar year following the calendar year during which the bonus was earned.

2.4 Employee Benefit Plans.

During the term of employment hereunder, Employee shall be eligible to participate in any
employee benefit plans provided by the Company on the same basis as other similarly positioned or
titled employees, as such plans may be changed from time to time, in accordance with the provisions
of such plans, including, but not limited to, the Company’s qualified retirement plans and the
Company’s stock incentive plan(s), if any. Employee hereby agrees and acknowledges that nothing in
this Agreement shall guarantee Employee that any employee benefit plan shall be in effect during
the term of his or her employment nor shall it guarantee Employee a right to any grant of stock
options, restricted stock or any other right under any stock incentive plan, or other plan.

2.5 Vacation.

Commencing upon Employee’s employment with the Company, Employee shall accrue, four (4) weeks
of vacation per calendar year, pro-rated proportionally for days worked as compared to the calendar
year accruable days in total. Unused vacation time may be carried over to a subsequent calendar
year; provided, however, that no more than 1.5 times (1.5x) Employee’s authorized annual vacation
allocation may be accrued, at any given time. Additionally, upon termination, Employee shall be
paid for all accrued but unused vacation days.

ARTICLE THREE

TERMINATION OF EMPLOYMENT

Employee’s employment with the Company may be terminated as follows:

3.1 Death or Disability.

Upon the death or long-term disability of Employee, this Agreement will automatically
terminate, and Employee (or his heirs in the case of death) will be entitled to receive his or her
Base Salary and benefits as listed above for a period of six (6) months from the Date of
Termination (as defined in Section 3.4 below). For purposes of this Agreement, “Disability” shall
mean the absence of Employee from Employee’s duties hereunder on a full-time basis for an aggregate
of 180 days within any given period of 270 consecutive days (in addition to any statutorily
required leave of absence and any leave of absence approved by the Company) as a result of the
incapacity of Employee, despite any reasonable accommodation required by law, due to bodily injury
or disease or any other mental or physical illness of Employee.

All of Employee’s issued but unexercised or unvested stock options and restricted stock grants
shall become fully vested and exercisable upon Employee’s death or the termination of this
Agreement due to Employee’s long-term disability and the stock options shall remain exercisable
until they are exercised or expire per the terms of the option plan and/or agreement under which
the option or shares were issued to Employee.

3.2 Termination by the Company.

a. Termination for Cause.

This Agreement may be terminated for “cause” by the Company immediately, without prior
notice (except as indicated herein below) and without severance pay or severance benefits.
For purposes hereof, “cause” shall mean any of the following events:

	 	i.	 	Any embezzlement or wrongful diversion of funds of the Company or any
affiliate of the Company by Employee;

	 	ii.	 	Malfeasance, poor performance as to core or delegated job assignments, in the
opinion of the Board of Directors, or insubordination by Employee in the conduct of
his duties.

	 	iii.	 	Failure to observe or strictly adhere to all of the Company policies put into
effect and/or amended from time to time;

	 	iv.	 	Abandonment by Employee of his job duties or repeated absences from the
Company-directed tasks which are not otherwise excused by the Company;

	 	v.	 	Competing with the Company or otherwise diverting away from the Company
business opportunities intended for the Company or which could reasonably benefit the
Company’s core business;

	 	vi.	 	Other material breach of this Agreement by Employee that remains uncured for
a period of at least thirty (30) days following written notice from the Company to
Employee of such alleged breach, which written notice describes in reasonable detail
the nature of such alleged breach; or

	 	vii.	 	Conviction of Employee or the entry of a plea of nolo contendere or
equivalent plea of a felony in a court of competent jurisdiction, or any other crime
or offense involving moral turpitude.

	 	b.	 	Reserved

	 	c.	 	Termination Without Cause

Notwithstanding the term provision of this Agreement, the Company may terminate
Employee at any time without “cause”, upon providing written notice to Employee. Upon such
termination, Employee shall have the rights set forth in Section 3.5 a. below subject to
the terms and conditions of Sections 3.5 e. and 3.5 f.

d. Termination for Good Reason

Notwithstanding the term provision of this Agreement, Employee may terminate this Agreement
for “good reason” 60 days after providing written notice to the Company of the “good reason” if the
written notice is provided within 30 days following the good reason event and the “good reason” is
not cured within the 60 day period following the notice. “Good reason” shall mean

	 	i.	 	a material breach of this Agreement by the Company, which breach is not cured
within 60 days after written notice by Employee to the Company of the breach; or

	 	ii.	 	a material change in reporting location not agreed to by Employee; or

	 	iii.	 	a material reduction in responsibilities or Base Salary.

Upon termination by Employee for good reason, Employee shall have the rights set forth in
Section 3.5 a. below, subject to the other terms and conditions of Sections 3.5 e. and 3.5 f.;
except that if termination by Employee for good reason satisfies the conditions of Section 3.5 b.,
then Employee shall have the rights set forth in Section 3.5 b., subject to the other terms and
conditions of Section 3.5b through 3.5 f. Such a termination shall be deemed to be an involuntary
termination.

If the Company enters into litigation with Employee as to whether Employee’s termination
validly qualifies as termination for “good reason,” then Employee will be entitled to continue to
be employed by the Company, at the same rate of salary as prior to Employee’s notice of
termination, until a court has rendered a decision in this matter, or until the parties have
reached a settlement, whichever occurs first.

3.3 Notice of Termination.

Any termination of Employee’s employment hereunder by the Company or by Employee shall be
communicated by a Notice of Termination (as defined below) to the other party hereto. For purposes
of this Agreement, a “Notice of Termination” shall mean a written notice which (a) indicates the
specific termination provision in this Agreement relied upon; (b) in the case of a termination for
disability or termination for cause, sets forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of Employee’s employment under the provision so
indicated; and (c) specifies the Date of Termination (as defined in Section 3.4 below). The
failure by the Company or Employee to set forth in the Notice of Termination any fact or
circumstance which contributes to a showing of a disability or a termination for cause shall not
waive any right of the Company or Employee hereunder or preclude the Company or Employee from
asserting such fact or circumstance in enforcing the Company’s or Employee’s rights hereunder.

3.4 Date of Termination.

For purposes of this Agreement, the “Date of Termination” shall mean the effective date of
termination of Employee’s employment hereunder, which date shall be (a) if Employee’s employment is
terminated by Employee’s death, the date of Employee’s death; (b) if Employee’s employment is
terminated because of Employee’s disability, the disability Effective Date; (c) if Employee’s
employment is terminated by the Company (or applicable affiliated company) for cause, the date on
which the Notice of Termination is given; and (d) if Employee’s employment is terminated for any
other reason, including the resignation by Employee, the date specified in the Notice of
Termination, which date shall in no event be earlier than the date such notice is given.

3.5 Severance Pay Provisions/Change in Control/Effect of Termination Without Cause by
Company, for good reason by Employee, or Due to Resignation.

a. In the event this Agreement is agreed by Employee to be renewed, but is not renewed by
the Company and is not superseded by a new agreement, or is terminated by Company without
“cause,” or is terminated by Employee for “good reason,” then Employee’s sole remedy shall
be limited to recovery by Employee from Company of his or her Base Salary and continuing
health care benefits for a period equal to six (6) months from the date of the expiration
of this Agreement (in the case of termination without cause or for good reason, or
Employee’s agreement to renew combined with the Company’s refusal to renew) or the Date of
Termination of this Agreement. Notwithstanding this Section 3.5 a., Employee shall not be
entitled to payment pursuant to this paragraph a. if he is entitled to payment pursuant to
Section 3.5 b.

b. In the event of a Change in Control as defined below, and Employee is terminated without
“cause” during the 12-month period following a Change in Control, or Employee terminates
his employment for “good reason” during the 12-month period following the Change in
Control, then Employee shall be entitled to benefits in the form of a lump sum payment in
the amount equal to his base salary and benefits (not including grants of common stock,
options or other equity) for a period equal to twelve (12) months plus 50% of the total
amount of cash bonuses granted to Employee during the 24 months preceding the Change in
Control (the “Change in Control Benefits”). Such payment of the Change in Control Benefits
shall be paid within 30 days of the effective termination date of Employee without “cause”
or for “good reason”, as applicable pursuant to Section 3.4. The Change in Control
Benefits provided for in this Agreement shall be in lieu of any other severance or
termination pay to which Employee may be entitled under any Company severance or
termination plan, program, practice or arrangement. Employee’s entitlement to any other
compensation or benefits shall be determined in accordance with any Company employee
benefit plans and any other applicable programs, policies and practices then in effect. In
addition, if Employee’s employment is terminated without “cause” during the 12-month period
following a Change in Control, or Employee terminates his employment for “good reason”
during the 12-month period following the Change in Control, then all of Employee’s issued
but unexercised or unvested stock options and restricted stock grants shall become fully
vested, and the unvested stock options shall become exercisable and shall remain
exercisable until they are exercised or expire per the terms of the option plan and/or
agreement under which the options or shares were issued to Employee.

For the purposes of this Agreement, a Change in Control shall be defined, in accordance
with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), as the
occurrence of any of the following events:  

	 	i.	 	If any one person, or more than one person acting as a group (as defined in
Code Section 409A and Internal Revenue Service (“IRS”) guidance issued thereunder),
acquires ownership of common stock of the Company that, together with stock held by
such person or group, constitutes more than fifty (50) percent of the total fair
market value or total voting power of the common stock of the Company. However, if
any one person or more than one person acting as a group, is considered to own more
than fifty (50) percent of the total fair market value or total voting power of the
common stock of the Company, the acquisition of additional stock by the same person or
persons is not considered to cause a Change in Control, or to cause a change in the
effective control of the Company (within the meaning of Code Section 409A and IRS
guidance issued thereunder). An increase in the percentage of common stock owned by
any one person, or persons acting as a group, as a result of a transaction in which
the Company acquires its stock in exchange for property shall be treated as
an acquisition of stock for purposes of this Section. This paragraph applies only when
there is a transfer of stock of the Company (or issuance of stock of the Company) and
stock in such Company remains outstanding after the transaction;

	 	ii.	 	If any one person, or more than one person acting as a group (as determined
in accordance with Code Section 409A and IRS guidance thereunder), acquires (or has
acquired during the 12-month period ending on the date of the most recent acquisition
by such person or persons) ownership of common stock of the Company possessing thirty
(30) percent or more of the total voting power of the common stock of the Company;

	 	iii.	 	If a majority of members on the Company’s Board is replaced during any
12-month period by Directors whose appointment or election is not endorsed by a
majority of the members of the Company’s Board prior to the date of the appointment or
election (provided that for purposes of this paragraph, the term Company refers solely
to the “relevant” Company, as defined in Code Section 409A and IRS guidance issued
thereunder), for which no other Company is a majority shareholder; or

	 	iv.	 	If there is a change in the ownership of a substantial portion of the
Company’s assets, which shall occur on the date that any one person, or more than one
person acting as a group (within the meaning of Code Section 409A and IRS guidance
issued thereunder) acquires (or has acquired during the 12-month period ending on the
date of the most recent acquisition by such person or persons) assets from the Company
that have a total gross fair market value equal to or more than forty (40) percent of
the total gross fair market value of all of the assets of the Company immediately
prior to such acquisition or acquisitions. For this purpose, gross fair market value
means the value of the assets of the Company, or the value of the assets being
disposed of, determined without regard to any liabilities associated with such assets.

c. In the event that the Change in Control Benefits provided for under Section 3.5 b.
constitute “parachute payments” within the meaning of Section 280G of the Code, and but for
this Section 3.5 c., would be subject to the excise tax imposed by Section 4999 of the
Code, then the Change in Control Benefits under Section 3.5 b. will be either: (i)
delivered in full, or (ii) delivered as to such lesser extent that would result in no
portion of such Change in Control Benefits being subject to excise tax under Section 4999
of the Code, whichever of the foregoing amounts, taking into account the applicable
federal, state and local income taxes and the excise tax imposed by Section 4999, results
in the receipt by Employee on an after-tax basis, of the greatest amount of Change in
Control Benefits, notwithstanding that all or some portion of such Change in Control
Benefits may be taxable under Section 4999 of the Code; provided, however, that Employee
may elect to receive Change in Control Benefits that would result in no portion of such
Change in Control Benefits being subject to excise tax under Section 4999 of the Code even
if such payment would not result in the greatest amount of Change in Control Benefits to
Employee. Unless the Company and Employee otherwise agree in writing, any determination
required under this Section 3.5 c. will be made in writing by the Company’s independent
public accountants immediately prior to the Change in Control (the “Accountants”), whose
determination will be conclusive and binding upon Employee and the Company for all
purposes. For purposes of making the calculations required by this Section, the
Accountants may make reasonable assumptions and approximations concerning applicable taxes
and may rely on reasonable, good faith interpretations concerning the application of
Sections 280G and 4999 of the Code. The Company and Employee will furnish to the
Accountants such information and documents as the Accountants may reasonably request in
order to make a determination under this Section. The Company will bear all costs the
Accountants may reasonably incur in connection with any calculations contemplated by this
Section. In the event the Accountants determine that this Section requires a reduction in
Employee’s Change in Control Benefits, Employee will be provided the reasonable opportunity
to determine the order in which Change in Control Benefits will be reduced. If Employee
fails to make an appropriate reduction election within the reasonable time period
determined by the Compensation Committee, or the Company’s Board of Directors if no
Compensation Committee exists, in its sole discretion, the order of reduction will be
determined by the Compensation Committee or the Company’s Board of Directors, if
applicable.

d. If Employee terminates Employee’s employment with the Company by resignation, other than
resignation for “good reason”, such termination shall be without any severance pay or
severance benefits and Employee shall be entitled only to such compensation hereunder that
has accrued as of the Date of Termination.

e. As a condition and requirement in order to receive any payment pursuant to Section 3.5
a. or Section 3.5 b. above, Employee must sign and deliver to the Company a full release of
the Company from any claims that Employee may have against the Company, and Employee must
return to the Company all information, documents, records, memoranda, drafts, emails,
notes, data or other non-public information that is recorded in any electronic, audio,
video or other manner that was furnished to Employee or produced by Employee in connection
with Employee’s employment, except for documents relating to compensation or benefits to
which Employee is entitled following Employee’s resignation. Employee also shall be
required to return all other Company property and equipment, including keys and access
cards. The form of release to be signed and delivered by Employee to the Company will be
provided by the Company.

f. Notwithstanding anything to the contrary contained in this Section 3.5, if Employee is a
Specified Employee (as defined herein) on the date of termination and, as a result thereof,
Section 409A of the Code and the rules promulgated thereunder would so require, payment of
the severance benefit provided pursuant to Section 3.5 a. shall begin on the first day
following the six-month anniversary of the Date of Termination, and, the lump sum payment
of the Change in Control Benefit shall be made on the first day following the six-month
anniversary of the Date of Termination.

ARTICLE FOUR

CONFIDENTIALITY

4.1 Confidentiality.

In consideration of employment by the Company and Employee’s receipt of the salary and other
benefits associated with Employee’s employment and in acknowledgment that:

a. the Company is engaged in the oil and gas business,

b. the Company maintains secret and confidential information,

c. during the course of Employee’s employment by the Company, such secret or confidential
information may become known to Employee, and

d. full protection of the Company’s business makes it essential that no employee
appropriate for his or her own use, or disclose, such secret or confidential information,

Employee agrees that, during the time of Employee’s employment and for a period of one (1) year
following the termination of Employee’s employment with the Company, Employee will hold in strict
confidence and shall not, directly or indirectly, disclose or reveal to any person, or use for his
own personal benefit or for the benefit of anyone else, any trade secrets, confidential dealings,
or other confidential or proprietary information of any kind, nature, or description (regardless of
whether acquired, learned, obtained, or developed by Employee alone or in conjunction with others)
belonging to or concerning the Company or any of its subsidiaries, except (i) with the prior
written consent of the Company duly authorized by its Board of Directors, (ii) in the course of the
proper performance of Employee’s duties hereunder, (iii) for information (A) that becomes generally
available to the public other than as a result of unauthorized disclosure by Employee or his
affiliates or (B) that becomes available to Employee on a non-confidential basis from a source
other than the Company or its subsidiaries who is not bound by a duty of confidentiality, or other
contractual, legal, or fiduciary obligation, to the Company, or (iv) as required by applicable law
or legal process. Notwithstanding the forgoing, this Section is not intended, nor shall be
construed, to prohibit Employee’s general knowledge, skill and experience or Employee’s inventive
powers.

4.2 Non-Competition.

During Employee’s employment with the Company and for so long as Employee receives any
severance benefit or is receiving any severance amount provided under this Agreement in respect of
the termination of his employment, Employee shall not be engaged as an officer or employee of, or
in any way be associated in a management or ownership capacity with any corporation, company,
partnership or other enterprise or venture that conducts a business in direct competition with the
business of the Company; provided, however, that Employee may own not more than two percent (2%)
of the outstanding securities, or equivalent equity interests, of any class of any corporation,
company, partnership, or other enterprise that is in direct competition with the business of the
Company, which securities are listed on a national securities exchange or traded in the
over-the-counter market. It is expressly agreed that the remedy at law for breach of this covenant
is inadequate and that injunctive relief shall be available to prevent the breach thereof.

4.3 Non-Solicitation.

Employee also agrees that he will not, directly or indirectly, during the term of his
employment or within two (2) years after termination of his employment for any reason, in any
manner, either (a) employ, or permit an entity by which he becomes employed or of which he becomes
a director, to employ, any person who was employed by the Company on the Date of Termination or 45
days prior to the Date of Termination; or (b) encourage, persuade, or induce any other employee of
the Company to terminate his employment, or any person or entity engaged by the Company to
represent it to terminate that relationship without the express written approval of the Company.
It is expressly agreed that the remedy at law for breach of this covenant is inadequate and that
injunctive relief shall be available to prevent the breach thereof.

4.4 Indemnification.

a. In the event Employee was, is or becomes a party to or witness or other participant in, or
is threatened to be made a party to or witness or other participant in, any action, suit or
proceeding by reason of his being or having been an officer of the Company, then the Company shall
indemnify Employee against expenses reasonably incurred and/or liability incurred in connection
with any such action, suit or proceeding, and advance expenses to Employee, to the fullest extent
permitted by the Company’s Articles of Incorporation and bylaws now in effect, by the common law,
by the General Corporation Law of the State of Maryland (the “GCLM”) or other applicable law in
effect on the date hereof, and to any greater extent that the GCLM or applicable law may in the
future from time to time permit. Employee shall be indemnified as soon as practicable but in any
event no later than forty-five (45) days after written demand is presented to the Company by
Employee, and any indemnified amount shall include any and all expenses, judgments, fines,
penalties and amounts paid in settlement (including all interest, assessments and other charges
paid or payable in connection with or in respect of such expenses, judgments, fines, penalties or
amounts paid in settlement) of such action, suit or proceeding for which Employee presents valid
invoices and/or receipts. If so requested by Employee, the Company shall advance to Employee,
within five (5) business days of such request, reasonable expenses (an “Expense Advance”) incurred
in defending any action, suit or proceeding, provided that Employee shall provide valid invoices
and/or receipts for such expenses to be advanced, and further provided that Employee shall execute
and deliver to the Company an undertaking that Employee shall repay to the Company any Expense
Advance if it shall ultimately be determined by a court of competent jurisdiction that Employee is
not entitled to be indemnified.

b. i. Upon written demand or other request by Employee for indemnification hereunder, Employee
shall be entitled to such indemnification unless (A) Employee did not act in good faith in a manner
that was reasonable and in the best interests of the Company; (B) Employee’s act or omission was
material to the matter giving rise to the liability and was committed in bad faith or was the
result of active or deliberate dishonesty; (C) Employee actually received an improper personal
benefit in money, property or services; or (D) in the case of a criminal proceeding, Employee had
reasonable cause to believe the act or omission was unlawful.

ii. In the event of a settlement before or after any action or suit, indemnification shall be
provided only in connection with such matters covered by settlement as to which the Company is
advised by the Reviewing Party (as defined below) that Employee was not guilty of such fraud or
misconduct as is covered by the provisions of Section 4.4 b.i. above.

iii. Employee shall not consent to the settlement of any action, suit or proceeding involving
his role as an officer of the Company without first obtaining the Company’s written consent, and
the Company shall not be liable to indemnify Employee for any amounts paid in settlement of any
action, suit or proceeding affected without its written consent, which consent shall not be
unreasonably withheld. The Company shall not be required to obtain the consent of Employee to
settle any action, suit or proceeding that the Company has undertaken to defend if the Company
assumes full and sole responsibility for such settlement and such settlement grants Employee a
complete and unqualified release in respect of any potential liability.

c. Promptly after receipt by Employee of notice of the commencement of any action, suit or
proceeding, Employee will, if a claim in respect thereof is to be made against the Company under
this Section 4.4, notify the Company in writing of the commencement thereof. The omission by
Employee to so notify the Company will not relieve the Company from any liability that it may have
to Employee under this Section 4.4 or otherwise, except to the extent that the Company may suffer
material prejudice by reason of such failure. Notwithstanding any other provision of this Section
4.4, with respect to any such action, suit or proceeding as to which Employee gives notice to the
Company of the commencement thereof:

i. The Company will be entitled to participate therein at its own expense.

	 	ii.	 	Except as otherwise provided in this Section 4.4, to the extent that it may
wish, the Company, jointly with any other indemnifying party similarly notified, shall
be entitled to assume the defense thereof with counsel reasonably satisfactory to
Employee. After notice from the Company to Employee of its election to so assume the
defense thereof, the Company shall not be liable to Employee under this Agreement for
any legal or other expenses subsequently incurred by Employee in connection with the
defense thereof other than reasonable costs of investigation or as otherwise provided
below. Employee shall have the right to employ Employee’s own counsel in such action,
suit or proceeding, but the fees and expenses of such counsel incurred after notice
from the Company of its assumption of the defense thereof shall be at the expense of
Employee unless (A) the employment of counsel by Employee and payment for same by the
Company has been authorized by the Company; (B) Employee shall have reasonably
concluded that there may be a conflict of interest between the Company and Employee in
the conduct of the defense of such action and such determination by Employee shall be
supported by an opinion of counsel, which opinion shall be reasonably acceptable to
the Company; or (C) the Company shall not in fact have employed counsel to assume the
defense of the action, in each of which cases the fees and expenses of counsel shall
be at the expense of the Company. The Company shall not be entitled to assume the
defense of any action, suit or proceeding brought by or on behalf of the Company or as
to which Employee shall have reached the conclusion provided for in clause (B) above.

d. If the Company advances Expense Advances or other funds for indemnification pursuant to
this Section, and, subsequently, indemnification pursuant to this Section is declared unenforceable
by a court of competent jurisdiction, or an independent third party, paid by the Company, that is
reviewing the indemnification set forth herein (the “Reviewing Party”) reasonably determines that
Employee is not entitled to indemnification pursuant to this Section, then Employee shall have the
right to retain the indemnification payments until all appeals of the court’s or the Reviewing
Party’s decision have been exhausted.

e. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the
Parties hereto and their respective successors or assigns, including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all or substantially all of the
business and/or assets of the Company, spouses, heirs, executors and personal and legal
representatives. This Section 4.4 shall continue in effect regardless of whether Employee
continues to serve as an officer or director of the Company or of any other enterprise at the
Company’s request.

ARTICLE FIVE

MISCELLANEOUS

5.1 Time of Essence.

Time is of the essence with respect to this Agreement and same shall be capable of specific
performance without prejudice to any other rights or remedies under law.

5.2 Benefit.

This Agreement shall inure to and be binding upon the undersigned and their respective heirs,
representatives, successors and permitted assigns. This Agreement may not be assigned by either
party without the prior written consent of the other party.

5.3 Governing Law.

This Agreement shall be governed by, and construed in accordance with the laws of the State of
Colorado without resort to any principle of conflict of laws that would require application of the
laws of any other jurisdiction; provided, however, that the Maryland corporate laws shall be
applicable to the rights of Employee as a shareholder with regard to vested Company shares that
Employee may acquire pursuant to this Agreement.

5.4 Counterparts.

This Agreement may be executed in counterparts and via facsimile, each of which shall be
deemed to constitute an original, but all of which together shall constitute one and the same
Agreement. Each such counterpart shall become effective when one counterpart has been signed by
each Party thereto.

5.5 Severability.

In case any one or more of the provisions contained in this Agreement shall for any reason be
held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or
enforceability shall not affect any other provision hereof, and this Agreement shall be construed
as if such invalid, illegal or enforceable provision had never been contained herein.

5.6 Construction.

Use of the masculine pronoun herein shall be deemed to refer to the feminine and neuter
genders and the use of singular references shall be deemed to include the plural and vice versa, as
appropriate. No inference in favor of or against any Party shall be drawn from the fact that such
Party or such Party’s counsel has drafted any portion of this Agreement.

5.7 Captions for Convenience.

All captions herein are for convenience or reference only and do not constitute part of this
Agreement and shall not be deemed to limit or otherwise affect any of the provisions hereof.

5.8  No Waiver.

No waiver of or failure to act upon any of the provisions of this Agreement or any right or
remedy arising under this Agreement shall be deemed or shall constitute a waiver of any other
provisions, rights or remedies (whether similar or dissimilar).

5.9  Amendment.

This Agreement may be amended only by a writing signed by all of the Parties hereto.

5.10 Entire Contract.

This Agreement and the documents and instruments referred to herein constitute the entire
contract between the Parties to this Agreement and supersede all other understandings, written or
oral, with respect to the subject matter of this Agreement. The Parties acknowledge and agree that
the Original Employment Agreement shall automatically terminate upon the execution of this
Agreement.

5.11 Notices.

All notices, requests, demands, directions and other communications (“Notices”) concerning
this Agreement shall be in writing and shall be mailed, delivered personally, sent by telecopier or
facsimile, or emailed to Employee at Employee’s address. When mailed, each such Notice shall be
sent by first class, certified mail, return receipt requested, enclosed in a postage prepaid
wrapper, and shall be effective on the fifth business day after it has been deposited in the mail.
When delivered personally, each such Notice shall be effective when delivered to Employee’s
address, provided that it is delivered on a business day and further provided that it is delivered
prior to 5:00 p.m., local time of Employee, on that business day; otherwise, each such Notice shall
be effective on the first business day occurring after the date on which the Notice is delivered.
When sent by email, telecopier or facsimile, each such Notice shall be effective on the day on
which it is sent provided that it is sent on a business day and further provided that it is sent
prior to 5:00 p.m., local time of Employee, on that business day; otherwise, each such Notice shall
be effective on the first business day occurring after the date on which the Notice is sent. Each
Notice shall be addressed to the Party to be notified as shown below:

	 	 	 	 	 
	(a)
	 	if to the Company:
	 	Double Eagle Petroleum Co.

1675 Broadway, Suite 2200

Denver, Colorado 80202

Facsimile No. (303)794-8451

Attention: Chief Financial Officer

	(b)
	 	if to Employee:
	 	Ashley Jenkins

IN WITNESS WHEREOF, the Parties have set their hands and seals hereunto on the dates set forth
below to be effective as of the Effective Date.

	 	 	 
	“Company”

	 	“Employee”
	Double Eagle Petroleum Co.

	 	Ashley Jenkins
	By: /s/ Kurtis Hooley

	 	By: /s/ Ashley Jenkins
	 

	 	 
	Kurtis S. Hooley

	 	Ashley Jenkins
	Chief Financial Officer

	 	Vice President—Controller
	Date of Execution: January 4, 2010

	 	Date of Execution: January 4, 2010

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