Document:

Second Amended and Restated Limited Liability Company Agreement

 Exhibit 10.1 
 THE LIMITED LIABILITY COMPANY INTERESTS EVIDENCED BY THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER APPLICABLE STATE SECURITIES LAWS (THE “STATE ACTS”), AND MAY
BE OFFERED OR SOLD BY A PURCHASER OF THE LIMITED LIABILITY COMPANY INTERESTS ONLY (1) UPON REGISTRATION OF THE LIMITED LIABILITY COMPANY INTERESTS UNDER THE ACT AND THE STATE ACTS OR PURSUANT TO AN EXEMPTION THEREFROM, AND (2) AFTER
COMPLIANCE WITH ALL RESTRICTIONS ON TRANSFER OF LIMITED LIABILITY COMPANY INTERESTS IMPOSED BY THIS AGREEMENT, INCLUDING (WITHOUT LIMITATION) THE PROVISIONS OF SECTION 9. 
 * * * * * 
 SECOND AMENDED AND RESTATED 
 LIMITED LIABILITY COMPANY AGREEMENT 
 OF 
 HUGHES NETWORK SYSTEMS, LLC 

 TABLE OF CONTENTS 
  

									
	 	  	 	  	 	  	 	  	Page
	1.	  	CERTAIN DEFINITIONS	  	2
			
	2.	  	FORMATION; NAME; PLACE OF BUSINESS	  	2
				
		  	2.1.	  	Formation of LLC; Certificate of Formation	  	2
				
		  	2.2.	  	Name of LLC	  	2
				
		  	2.3.	  	Place of Business	  	3
				
		  	2.4.	  	Registered Office and Registered Agent	  	3
			
	3.	  	PURPOSES AND POWERS OF LLC	  	3
				
		  	3.1.	  	Purposes	  	3
				
		  	3.2.	  	Powers	  	3
			
	4.	  	TERM OF LLC	  	3
			
	5.	  	CAPITAL	  	4
				
		  	5.1.	  	Capital Contributions and Percentage Interests of Members	  	4
					
		  		  	5.1.1.	  	Capital Contributions	  	4
					
		  		  	5.1.2.	  	Class of Units	  	4
					
		  		  	5.1.3.	  	Class B Units	  	4
				
		  	5.2.	  	Support Obligations	  	4
				
		  	5.3.	  	Issuance of Additional LLC Interests	  	4
				
		  	5.4.	  	Capital Accounts	  	5
				
		  	5.5.	  	Negative Capital Accounts	  	5
				
		  	5.6.	  	No Interest on Capital Contributions or Capital Accounts	  	5
				
		  	5.7.	  	Advances to LLC	  	5
				
		  	5.8.	  	Liability of Members and Board of Managers	  	5
				
		  	5.9.	  	Return of Capital	  	5
				
		  	5.10.	  	Rights to Subscribe to Additional Issuances	  	5
			
	6.	  	ALLOCATION OF PROFITS AND LOSSES; DISTRIBUTIONS	  	6
				
		  	6.1.	  	Allocation of Net Income or Net Loss	  	6
				
		  	6.2.	  	Allocation of Income and Loss With Respect to LLC Interests Transferred	  	6
				
		  	6.3.	  	Distributions	  	6
					
		  		  	6.3.1.	  	Determination of Availability	  	6
					
		  		  	6.3.2.	  	Distribution to Members	  	7
					
		  		  	6.3.3.	  	Priority of Distributions	  	7
					
		  		  	6.3.4.	  	Tax Distribution	  	7
					
		  		  	6.3.5.	  	Withholding Taxes	  	8

 TABLE OF CONTENTS 
 (continued) 
  

									
	 	  	Page
	7.	  	MEMBERS AND MANAGEMENT	  	8
				
		  	7.1.	 	Members	  	8
					
		  		 	7.1.1.	 	Classes of LLC Interests	  	8
					
		  		 	7.1.2.	 	Meetings	  	8
					
		  		 	7.1.3.	 	Quorum	  	9
					
		  		 	7.1.4.	 	Action by Written Consent	  	9
					
		  		 	7.1.5.	 	Voting Rights; Required Vote	  	9
					
		  		 	7.1.6.	 	Waivers of Notice	  	9
				
		  	7.2.	 	Management of the LLC	  	9
					
		  		 	7.2.1.	 	Management by the Board of Managers	  	9
					
		  		 	7.2.2.	 	Power and Authority of the Board of Managers	  	9
				
		  	7.3.	 	Board of Managers	  	9
					
		  		 	7.3.1.	 	Composition; Election; Removal	  	9
					
		  		 	7.3.2.	 	Meetings	  	10
					
		  		 	7.3.3.	 	Quorum of the Board of Managers	  	10
					
		  		 	7.3.4.	 	Action by Written Consent	  	10
					
		  		 	7.3.5.	 	Voting Rights of the Board of Managers; Required Votes of the Board of Managers	  	10
					
		  		 	7.3.6.	 	Compensation of Board Members	  	11
					
		  		 	7.3.7.	 	Resignations of Board Members	  	11
					
		  		 	7.3.8.	 	Committees of the Board of Managers	  	11
				
		  	7.4.	 	Officers	  	11
					
		  		 	7.4.1.	 	Number, Election and Term of Office	  	11
					
		  		 	7.4.2.	 	President and Chief Executive Officer	  	11
					
		  		 	7.4.3.	 	Treasurer	  	11
					
		  		 	7.4.4.	 	Secretary	  	12
					
		  		 	7.4.5.	 	Vice President	  	12
					
		  		 	7.4.6.	 	Assistant Secretary	  	12
					
		  		 	7.4.7.	 	Other Officers	  	12
					
		  		 	7.4.8.	 	Resignation	  	12
					
		  		 	7.4.9.	 	Removal; Vacancies; Transfer of Duties	  	12
					
		  		 	7.4.10.	 	Compensation	  	13
					
		  		 	7.4.11.	 	Third Party Reliance	  	13

  

 2 

 TABLE OF CONTENTS 
 (continued) 
  

									
	 	  	Page
		  	7.5.	    	Day-to-Day Operations	  	13
				
		  	7.6.	    	Fiduciary Relationship	  	13
				
		  	7.7.	    	Other Activities of Members or Affiliates	  	13
				
		  	7.8.	    	Certain Transactions	  	14
				
		  	7.9.	    	Indemnification of the Members, Board Members, Officers and any Affiliate	  	14
				
		  	7.10.	    	Delegation of Rights and Authority	  	15
				
		  	7.11.	    	Confidentiality	  	15
			
	8.	  	BANK ACCOUNTS; BOOKS AND RECORDS; STATEMENTS; TAXES; FISCAL YEAR	  	16
				
		  	8.1.	    	Bank Accounts	  	16
				
		  	8.2.	    	Books and Records	  	16
				
		  	8.3.	    	Financial Statements and Information	  	16
				
		  	8.4.	    	Where Maintained	  	16
				
		  	8.5.	    	Tax Returns	  	16
				
		  	8.6.	    	Fiscal Year	  	16
			
	9.	  	TRANSFER AND CONVERSION OF LLC INTERESTS AND THE ADDITION, SUBSTITUTION AND WITHDRAWAL OF MEMBERS	  	17
				
		  	9.1.	    	Transfer of LLC Interests	  	17
				
		  	9.2.	    	Restrictions on Transfers	  	18
				
		  	9.3.	    	Publicly Traded Partnership	  	18
				
		  	9.4.	    	No Right to Withdraw	  	18
				
		  	9.5.	    	Conversion	  	19
			
	10.	  	DISSOLUTION AND LIQUIDATION	  	19
				
		  	10.1.	    	Events Causing Dissolution	  	19
				
		  	10.2.	    	Cancellation of Certificate	  	20
				
		  	10.3.	    	Distributions Upon Dissolution	  	20
				
		  	10.4.	    	Reasonable Time for Winding Up	  	20
			
	11.	  	MISCELLANEOUS PROVISIONS	  	20
				
		  	11.1.	    	Compliance with Delaware LLC Act	  	20
				
		  	11.2.	    	Additional Actions and Documents	  	20
				
		  	11.3.	    	Notices	  	21
				
		  	11.4.	    	Severability	  	21

  

 3 

 TABLE OF CONTENTS 
 (continued) 
  

									
	 	  	Page
		  	11.5.	  	Survival	  	21
				
		  	11.6.	  	Waivers	  	21
				
		  	11.7.	  	Exercise of Rights	  	21
				
		  	11.8.	  	Binding Effect	  	22
				
		  	11.9.	  	Limitation on Benefits of this Agreement	  	22
				
		  	11.10.	  	Amendment Procedure	  	22
				
		  	11.11.	  	Entire Agreement	  	22
				
		  	11.12.	  	Pronouns	  	22
				
		  	11.13.	  	Headings	  	22
				
		  	11.14.	  	Governing Law	  	22
				
		  	11.15.	  	Execution in Counterparts	  	22
				
		  	11.16.	  	Required FCC Consents	  	23

  

 4 

 SECOND AMENDED AND RESTATED 
 LIMITED LIABILITY COMPANY AGREEMENT 
 OF 
 HUGHES NETWORK SYSTEMS, LLC 
 THIS
SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (the “Agreement”) is entered into as of February 28, 2006, by and among Hughes Communications, Inc., a Delaware corporation (“HCI”), any permitted
successor, assignee or transferee of HCI, the Class B Members and any other Persons who shall in the future execute and deliver this Agreement pursuant to the provisions hereof collectively, the “Members.” 
 WHEREAS, DTV Network Systems, Inc. (f/k/a Hughes Network Systems, Inc.) (“DTV”), as sole member, previously formed a limited liability
company under the name “Hughes Network Systems, LLC” (the “LLC”), for the purposes hereinafter set forth, subject to the terms and conditions hereof, and authorized Kathy P. Spicer as an authorized person to file a
Certificate of Formation (the “Certificate”) to effect such formation pursuant to the provisions of the Delaware Limited Liability Company Act (the “Delaware LLC Act”) and entered into a Limited Liability Company
agreement for the LLC, dated as of November 12, 2004 (the “Original LLC Agreement”); 
 WHEREAS, DTV conveyed to
SkyTerra Communications, Inc. (“SkyTerra”) a 50% LLC Interest in the LLC and DTV and SkyTerra entered into the Amended and Restated LLC Agreement, dated as of April 22, 2005 (the “First Amended and Restated LLC
Agreement”); 
 WHEREAS, SkyTerra transferred 47,500 Class A Units to HCI (the “SkyTerra Transfer”) pursuant
to the Separation Agreement, dated as of December 30, 2005, by and between SkyTerra and HCI (the “Separation Agreement”) and DTV transferred 47,500 Class A Units to HCI (the “DTV Transfer”) pursuant to the
Membership Interest Purchase Agreement, dated as of November 10, 2005, by and among DTV, The DIRECTV Group, Inc., HCI, SkyTerra and the LLC (the “Purchase Agreement”) and following such transfers, HCI holds 100% of the
Class A Units; 
 WHEREAS, HCI, DTV and SkyTerra amended the First Amended and Restated LLC Agreement pursuant to Amendment No. 1
to the First Amended and Restated LLC Agreement, dated as of January 1, 2006 (the “First Amendment”); and 
 WHEREAS,
HCI and the Class B Members desire to amend and restate the First Amended and Restated LLC Agreement (as amended by the First Amendment) as more fully set forth below. 
 NOW, THEREFORE, in consideration of the foregoing, and of the covenants and agreements hereinafter set forth, the Members hereby agree as follows: 

	1.	CERTAIN DEFINITIONS 

 Unless the context otherwise
specifies or requires, capitalized terms used herein shall have the respective meanings assigned thereto in Addendum I, attached hereto, and incorporated herein by reference, for all purposes of this Agreement (such definitions to be equally
applicable to both the singular and the plural forms of the terms defined). Unless otherwise specified, all references herein to Articles or Sections are to Articles or Sections of this Agreement. 
  

	2.	FORMATION; NAME; PLACE OF BUSINESS 

  

	 	2.1.	Formation of LLC; Certificate of Formation 

 The
Members of the LLC hereby: 
 2.1.1. approve and ratify the filing of the Certificate with the Recording Office on November 12,
2004; 
 2.1.2. approve and ratify the SkyTerra Transfer and the DTV Transfer; 
 2.1.3. confirm and agree to HCI’s status as the sole Class A Member of the LLC; 
 2.1.4. execute this Agreement for the purpose of amending and restating the First Amended and Restated LLC Agreement (as amended by the First
Amendment), continuing the existence of the LLC and establishing the rights, duties, and relationship of the Members; 
 2.1.5.
(i) agree that if the laws of any jurisdiction in which the LLC transacts business so require, the Board of Managers or the appropriate officers or other authorized representatives of the LLC shall file, or shall cause to be filed, with the
appropriate office in that jurisdiction, any documents necessary for the LLC to qualify to transact business under such laws; and (ii) agree and obligate themselves to execute, acknowledge, and cause to be filed for record, in the place or
places and manner prescribed by law, any amendments to the Certificate as may be required, either by the Delaware LLC Act, by the laws of any jurisdiction in which the LLC transacts business, or by this Agreement, to reflect changes in the
information contained therein or otherwise to comply with the requirements of law for the continuation, preservation, and operation of the LLC as a limited liability company under the Delaware LLC Act; and 
 2.1.6. each severally represent and warrant that such Member is duly authorized to execute, deliver, and perform its obligations under this
Agreement and that the Person, if any, executing this Agreement on behalf of such Member is duly authorized to do so and that this Agreement is binding on and enforceable against such Member in accordance with its terms. 
  

	 	2.2.	Name of LLC 

 The name under which the LLC shall
conduct its business is “Hughes Network Systems, LLC.” The business of the LLC may be conducted under any other name permitted by the Delaware LLC Act that is deemed necessary or desirable by the Board of Managers, in its absolute
discretion. The Board of Managers or the appropriate officers or other authorized representatives of the LLC promptly shall execute, file, and record, or cause to be executed, filed and recorded, any assumed or fictitious name certificates required
by the laws of the State of Delaware or any state in which the LLC conducts business. 
  

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	 	2.3.	Place of Business 

 The location of the principal
place of business of the LLC shall be as determined by the Board of Managers. The Board of Managers may hereafter change the principal place of business of the LLC to such other place or places within the United States as the Board of Managers may
from time to time determine, in its absolute discretion, provided that, if necessary, the Board of Managers shall amend, or shall cause to be amended, the Certificate in accordance with the applicable requirements of the Delaware LLC Act. The Board
of Managers may, in its absolute discretion establish and maintain such other offices and additional places of business of the LLC, either within or without the State of Delaware, as it deems appropriate. 
  

	 	2.4.	Registered Office and Registered Agent 

 The street
address of the initial registered office of the LLC shall be 1209 Orange Street, Wilmington, Delaware 19801, and the LLC’s registered agent at such address shall be Corporation Trust Company. The registered office and the registered agent of
the LLC may be changed by the Board of Managers from time to time in accordance with the then applicable provisions of the Delaware LLC Act and any other applicable laws. 
  

	3.	PURPOSES AND POWERS OF LLC 

  

	 	3.1.	Purposes 

 The purposes of the LLC shall be to
engage in any lawful business permitted by the Delaware LLC Act or laws of any jurisdiction in which the LLC may do business and to enter into any lawful transaction and engage in any lawful activities in furtherance of the foregoing purposes and as
may be necessary, incidental or convenient to carry out the business of the LLC as contemplated by this Agreement. 
  

	 	3.2.	Powers 

 Subject to all of the provisions of this
Agreement, the LLC shall have the power to do any and all acts and things necessary, appropriate, advisable, or convenient for the furtherance and accomplishment of the purposes of the LLC, including, without limitation, to engage in any kind of
activity and to enter into and perform obligations of any kind necessary to or in connection with, or incidental to, the accomplishment of the purposes of the LLC, so long as said activities and obligations may be lawfully engaged in or performed by
a limited liability company under the Delaware LLC Act. 
  

	4.	TERM OF LLC 

 The existence of the LLC commenced on
the date upon which the Certificate was duly filed with the Recording Office and shall continue until the Termination Date, unless dissolved and liquidated before the Termination Date in accordance with the provisions of Section 10.

  

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	5.	CAPITAL 

  

	 	5.1.	Capital Contributions and Percentage Interests of Members 

  

	 	5.1.1.	Capital Contributions 

 Each of the Members is
deemed to have made the Capital Contribution set forth opposite such Member’s name in Exhibit A attached hereto (individually, each a “Capital Contribution,” and collectively, the “Capital
Contributions”). Exhibit A shall be amended from time to time by the LLC to the extent necessary to reflect accurately Capital Contributions or similar events under Section 5.3 making an amendment of Exhibit A
necessary or appropriate in the judgment of the Board of Managers. Except as otherwise provided in the Delaware LLC Act, the Members shall not be required to make any Capital Contributions to the LLC other than as set forth in this
Section 5.1. 
  

	 	5.1.2.	Class of Units 

 There shall be two classes of
Units of LLC Interests. Class A Units shall be granted to investors in the LLC in exchange for money or property other than money, and Class B Units shall be granted by the LLC to certain persons as determined by the Board of Managers, in
exchange for the performance of services. Exhibit A sets forth (i) the name of each Member, (ii) the number of Class A Units held by each Member, (iii) the number of Class B Units held by each Member, and (iv) the
amount of the initial value of each Member’s Capital Contributions to the LLC, if any. 
  

	 	5.1.3.	Class B Units 

 Class B Units shall be available to
issue to employees, officers, directors and consultants of the LLC as determined by the Board of Managers. Class B Units shall be granted solely in exchange for the performance of services, and may be subject to forfeiture, until fully vested, as
determined by the Board of Managers with respect to each grant of Class B Units. Class B Units shall be non-voting Units in accordance with Section 7.1.5. 
  

	 	5.2.	Support Obligations 

 In no event shall any Member
have any obligation to provide guarantees, collateral or any like support for the debts, obligations or contracts of the LLC. 
  

	 	5.3.	Issuance of Additional LLC Interests 

 The Board of
Managers is hereby authorized to cause the LLC from time to time to issue to Members or other Persons (who, upon such issuance and the execution by such Persons of such documents as the Board of Managers deems necessary or appropriate to evidence
such Persons’ agreement to be admitted as a Member and to be bound by the terms and conditions of this Agreement, shall automatically become Members) additional LLC Interests for such consideration and in one or more classes, or one or more
series of any such classes, with such designations, preferences and relative, participating, optional or other special rights, powers and duties, including rights, powers and duties senior to the then-existing LLC Interests, all as shall be
determined by the Board of Managers, in its reasonable discretion subject to the requirements of the Delaware LLC Act, including without limitation, (i) the allocations of items of LLC income, gain, loss, deduction and credit to each such class
or series of LLC Interests; (ii) the right of each such class or series of LLC Interests to share in LLC distributions; and (iii) the rights of each such class or series of LLC Interests upon dissolution and liquidation of the LLC or upon
termination of a series of LLC Interests. 
  

 - 4 - 

	 	5.4.	Capital Accounts 

 A separate Capital Account shall
be established and maintained for each Member in all events in accordance with the Tax Allocations Addendum attached hereto as Addendum II and by this reference incorporated herein. 
  

	 	5.5.	Negative Capital Accounts 

 No Member shall be
required to pay to the LLC or to any other Member any deficit or negative balance which may exist from time to time in such Member’s Capital Account. 
  

	 	5.6.	No Interest on Capital Contributions or Capital Accounts 

 No Member shall be entitled to receive any interest on its Capital Contributions or its outstanding Capital Account balance. 
  

	 	5.7.	Advances to LLC 

 Members may advance funds to the
LLC in excess of the amounts required hereunder to be contributed by them to the capital of the LLC only with the consent of the Board of Managers. Any such approved advances by a Member shall not result in any increase in the amount of such
Member’s Capital Account or entitle it to any increase in the Percentage Interest represented by such Member’s LLC Interest. The amounts of such advances shall be a debt of the LLC to such Member and shall be payable or collectible only
out of the LLC Assets in accordance with terms and conditions agreed upon by the Board of Managers. 
  

	 	5.8.	Liability of Members and Board of Managers 

 Except
as otherwise provided in the Delaware LLC Act, the debts, obligations and liabilities of the LLC, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the LLC, and none of the Members or the Board
Members shall be obligated personally for any such debt, obligation or liability of the LLC solely by reason of being a Member or a Board Member. The failure of the LLC to observe any formalities or requirements relating to the exercise of its
powers or management of its business or affairs under the Delaware LLC Act or this Agreement shall not be grounds for imposing personal liability on any Member or any Board Member for liabilities of the LLC.  
  

	 	5.9.	Return of Capital 

 Except upon the dissolution of
the LLC or as may be specifically provided in this Agreement, no Member shall have the right to demand or to receive the return of all or any part of its Capital Account or its Capital Contributions to the LLC. 
  

	 	5.10.	Rights to Subscribe to Additional Issuances 

 In
the event the Board of Managers decides to cause the LLC to issue additional LLC Interests (other than (a) the issuance of Class B Units, (b) the issuance of any LLC Interests in connection with acquisitions, debt financings, joint
ventures or strategic alliances, (c) the declaration of dividends or other distributions in the form of additional LLC Interests, (d) recapitalizations, splits or combinations of 
  

 - 5 - 

 LLC Interests, or (e) the issuance of securities (Units or otherwise) in a public offering, each Class A Member
shall be offered the first opportunity to subscribe for such additional issuance of LLC Interests, on the same terms and conditions as the Board of Managers proposes to issue such LLC Interests, in the proportion that such Class A Member’s
Percentage Interest bears to the aggregate Percentage Interests then held by all Class A Members (such Member’s “Pro Rata Share”). The LLC shall deliver a written notice (the “Proposed Issuance Notice”) to
each such Class A Member at least ten (10) days in advance of the proposed issuance of LLC Interests, stating the number and class of LLC Interests proposed to be issued, the proposed subscription price, and the manner in which such
Class A Member may exercise its rights to subscribe to such LLC Interests. Such Class A Member may exercise its rights to subscribe to such LLC Interests by delivering a notice to that effect to the LLC and each of the other Class A
Members within ten (10) days after the delivery of the Proposed Issuance Notice and complying with the procedures for subscription specified in the Proposed Issuance Notice. If any of the Class A Members does not elect to purchase their
full Pro Rata Share of the offered LLC Interests, the LLC shall offer the Class A Members that have elected to purchase their full Pro Rata Shares of such LLC Interests the opportunity to increase the number of such LLC Interests they wish to
subscribe for by an amount equal to their Pro Rata Shares (excluding for such calculation the LLC Interests of any Member who has not subscribed for its respective full Pro Rata Share) of the unsubscribed portion of such LLC Interests. This process
shall be repeated as often as necessary until either the Class A Members have subscribed for all of the LLC Interests offered or no Class A Member has exercised its right to subscribe for such additional LLC Interests. Any LLC Interests
not subscribed for by the Class A Members pursuant to the foregoing may be issued by the Board of Managers in accordance with the terms previously described by the Board of Managers. From time to time and at any time, the Class A Members
may assign their rights to purchase LLC Interests pursuant to this Section 5.10 to their Affiliates. 
  

	6.	ALLOCATION OF PROFITS AND LOSSES; DISTRIBUTIONS 

  

	 	6.1.	Allocation of Net Income or Net Loss 

 The Net
Income or Net Loss, other items of income, gains, losses, deductions and credits, and the taxable income, gains, losses, deductions and credits of the LLC, if any, for each Fiscal Year (or portion thereof) shall be allocated to the Members as
provided in the Tax Allocations Addendum. 
  

	 	6.2.	Allocation of Income and Loss With Respect to LLC Interests Transferred 

 If any LLC Interest is transferred during any Fiscal Year, the Net Income or Net Loss (and other items referred to in Section 6.1) attributable to such LLC Interest for such Fiscal Year shall be allocated
between the transferor and the transferee based on the number of days during such Fiscal Year for which each party was the owner of the LLC Interest transferred. 
  

	 	6.3.	Distributions 

  

	 	6.3.1.	Determination of Availability 

 Cash available or
property available to be distributed in kind by the LLC to the Members (“Distributions”) shall be determined for each Fiscal Year by the Board of Managers and shall be distributed to the Members as set forth in
Section 6.3.3. 
  

 - 6 - 

	 	6.3.2.	Distribution to Members 

 Distributions of
available cash, as determined by the Board of Managers, shall be made at least annually within seventy-five (75) days after the end of each Fiscal Year. Distributions also may be made, in the sole and absolute discretion of the Board of
Managers, after retention of appropriate reserves, at other times during any Fiscal Year in anticipation of the year-end determination thereof, and such Distributions shall be subject to year-end adjustment. The Members agree that, within
thirty (30) days after determination by the LLC that an overpayment was made to any Member for any Fiscal Year pursuant to this Section 6.3, such Member shall repay the overpayment unless the Board of Managers otherwise agrees to
allow such overpayment to be a credit against future Distributions, or make such other adjustments as the Board of Managers determines to be appropriate to remedy such overpayment. 
  

	 	6.3.3.	Priority of Distributions 

 All Distributions shall
be made in the following order of priority: 
 (a) First, to the holders of Class A Units pro rata in accordance with the number
of Units held until each such Member has received aggregate distributions under this paragraph equal to such Member’s aggregate Capital Contributions to the LLC, and 
 (b) Second, to the holders of all Units, pro rata in accordance with the number of Vested Units held, provided that a holder of a Class B Unit
shall not be entitled to any distribution of cash or property that resulted from the appreciation of the LLC Assets, or income earned by the LLC, before such Member received such Class B Unit. In furtherance of the foregoing, prior to the issuance
of a Class B Unit, the Board of Managers shall determine the amount, if any, of such appreciation and such income, and such amount shall be reflected in a separate column on Exhibit A. Any such amount that would, in the absence of the proviso
in the preceding sentence, be distributed to a Class B Member, shall instead be distributed to holders of all other Units, pro rata in accordance with such Units. For the purposes of this Section 6.3.3, “Vested Units” means
(i) all Class A Units and (ii) the Class B Units that have “vested” in accordance with the applicable terms of such holder’s employment agreement with the Company or any other agreement with the Company which specifies
the methodology for the “vesting” of such Class B Units. 
 (c) Notwithstanding the foregoing, no Member shall be entitled to a
Distribution in excess of single Member’s Capital Account balance. Any Distribution that is not made pursuant to the preceding sentence shall be distributed to the other Members pro rata in accordance with their respective Capital Account
balances. 
  

	 	6.3.4.	Tax Distribution. 

 At the election of the Board of
Managers, within ten (10) days following the end of each quarter of a Fiscal Year the LLC shall distribute to each Class A Member a cash amount equal to (i) 25% of the Taxable Income Distribution Amount of such Class A Member
that the Board of Managers estimates for the entire Fiscal Year; and (ii) with respect to tax payments to be made with income tax returns filed for a full Fiscal Year or with respect to adjustments to such returns imposed by the Internal
Revenue Service or other taxing authority, such distribution to the Class A Members shall be equal to the Taxable Income Distribution Amount for such Fiscal Year, less the aggregate amount distributed for such Fiscal Year as provided in clause
(i) above. In the event that the amount determined under clause (ii) above is a negative amount (a “Tax Distribution Deficit”), the amount of any Distributions pursuant to this Section 6.3.4 in the succeeding
Fiscal Year (or if necessary any subsequent Fiscal Year) shall be reduced by such Tax Distribution Deficit; provided that if a Class A Member stops being a Member while there is a Tax Distribution Deficit with respect to such
Class A Member, such Class A Member shall repay such Tax Distribution Deficit to the LLC upon withdrawal from the LLC. 
  

 - 7 - 

	 	6.3.5.	Withholding Taxes. 

 (i) Authority to Withhold;
Treatment of Withheld Tax. Notwithstanding any other provision of this Agreement, each Member hereby authorizes the LLC to withhold and to pay over, or otherwise pay, any withholding or other taxes payable by the LLC or any of its Affiliates
(pursuant to the Code or any provision of United States federal, state or local or non-U.S. tax law) with respect to such Member or as a result of such Member’s participation in the LLC. If and to the extent that the LLC shall be required to
withhold or pay any such withholding or other taxes, such Member shall be deemed for all purposes of this Agreement to have received a payment from the LLC as of the time such withholding or other tax is required to be paid, which payment shall be
deemed to be a Distribution pursuant to the relevant clause of Section 6.3.3 with respect to such Member’s Units to the extent that such Member (or any successor to such Member’s Units) would have received a Distribution but
for such withholding. To the extent that the aggregate of such payments to a Member for any period exceeds the Distributions that such Member would have received for such period but for such withholding, the LLC shall notify such Member as to the
amount of such excess and such Member shall make a prompt payment to the LLC of such amount by wire transfer. Any withholdings by the LLC referred to in this Section 6.3.5 shall be made at the maximum applicable statutory rate under the
applicable tax law unless the LLC shall have received an opinion of counsel or other evidence, satisfactory to the LLC, to the effect that a lower rate is applicable, or that no withholding is applicable. 
 (ii) Withholding from Distributions of Property. If the LLC makes a Distribution in kind and such Distribution is subject to withholding or other
taxes payable by the LLC on behalf of any Member, such Member shall make a prompt payment to the LLC of the amount required to be withheld. 
  

	7.	MEMBERS AND MANAGEMENT 

  

	 	7.1.	Members 

  

	 	7.1.1.	Classes of LLC Interests 

 For purposes of voting,
the LLC Interests shall be of two (2) classes with such relative rights, powers and duties as are set forth in or established in accordance with this Agreement. 
  

	 	7.1.2.	Meetings 

 The Class A Members shall meet at
least once each Fiscal Year at such place, on such date and at such time as may be fixed by the Board of Managers for the purpose of electing Board Members and for the transaction of such other lawful business as may come before the meeting. Special
Meetings of the Class A Members may be called by a Class A Member holding more than 10% of the issued and outstanding Class A Units and shall be called by the Secretary upon the request of any Class A Member holding more than 10%
of the issued and outstanding Class A Units upon ten (10) days’ notice to all Class A Members in writing or by telephone or facsimile. No business shall be acted upon at a special meeting that is not stated in the notice of the
meeting. Class A Members may vote in person or by proxy, and such proxy may be granted in writing, by means of electronic transmission (as defined in the Delaware LLC Act), or as otherwise permitted by applicable law. Meetings of Class A
Members may be held by telephone or any other communications equipment by means of which all participating Class A Members can simultaneously hear each other during the meeting. 
  

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	 	7.1.3.	Quorum 

 No action may be taken at a meeting of
Class A Members unless a quorum consisting of at least a Majority of the Members are present. 
  

	 	7.1.4.	Action by Written Consent 

 Any
action which may be taken by the Class A Members under this Agreement may be taken without a meeting if consents in writing setting forth the action so taken are signed by Class A Members who own LLC Interests having voting power to cast
not less than the minimum number of votes necessary for such action to be taken by the Class A Members. All Class A Members who do not participate in taking the action by written consent shall be given written notice thereof by the
Secretary of the LLC promptly after such action has been taken. A consent transmitted by electronic transmission (as defined in the Delaware LLC Act) by a Class A Member or by a Person or Persons authorized to act for a Class A Member
shall be deemed to be written and signed for purposes of this Section 7.1.4. 
  

	 	7.1.5.	Voting Rights; Required Vote 

 The Class A
Members shall be entitled to vote the Percentage Interest represented by such Class A Member’s LLC Interest with respect to any action required or permitted to be taken by the Class A Members under this Agreement. Except as otherwise
expressly provided in this Agreement, any action required or permitted to be taken by the Class A Members must be approved by the affirmative vote of a Majority of the Members entitled to vote thereon. The Members holding Class B Units shall
not be entitled to vote with respect to any action required or permitted to be taken by the Members under this Agreement. 
  

	 	7.1.6.	Waivers of Notice 

 Whenever the giving of any
notice to Members is required by statute or this Agreement, a waiver thereof, in writing and delivered to the LLC signed by the Person or Persons entitled to said notice, whether before or after the event as to which such notice is required, shall
be deemed equivalent to notice. Attendance of a Class A Member at a meeting or execution of a written consent to any action shall constitute a waiver of notice of such meeting or action. 
  

	 	7.2.	[Intentionally omitted.] 

  

	 	7.3.	Board of Managers 

  

	 	7.3.1.	Composition; Election; Removal 

 (i) Number;
Qualifications. The board of managers of the LLC (the “Board of Managers”) shall at all times be composed of seven managers (each, a “Board Member”) or such other number of Board Members as determined by the
Majority of the Members from time to time. The qualifications for Board Members shall be as fixed from time to time by the Class A Members entitled to vote on the election of such Board Members, at any regular or special meeting, subject to the
provisions of this Agreement. Board Members need not be Members. 
  

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 (ii) Election. Board Members shall be elected at the annual meeting of Class A Members held
for the purpose of electing Board Members. The Board Members shall hold office until the next annual meeting of Class A Members and until their respective successors are duly elected and qualified. 
 (iii) Vacancies. In the event of any vacancy in the office of a Board Member as a result of the death, incapacity, resignation or removal of a
Board Member, such vacancy shall be filled by the affirmative vote of the Class A Member(s). The Board Member elected to fill any vacancy shall hold office until the next annual meeting of the Class A Members for the election of Board
Members and until such Board Member’s successor is duly elected and qualified. 
 (iv) Removal of Board Members. Any Board
Member may be removed, with or without cause, by the affirmative vote of the Class A Members. Any vacancy caused by any such removal shall be filled as provided in Section 7.3.1(iii) above. 
  

	 	7.3.2.	Meetings 

 Regular meetings of the Board of
Managers shall be held at least once each calendar quarter on such date and at such place and time as may be fixed from time to time by the Board of Managers (unless such meeting shall be waived by all of the Board Members). Regular meetings of the
Board of Managers shall be held on not less than two (2) days notice to all Board Members in writing or by telephone or facsimile transmission. Special meetings of the Board of Managers may be called by any Board Member and shall be called by
the Secretary upon the request of any Class A Member holding more than 10% of the issued and outstanding Class A Units, upon two (2) days’ notice to all Board Members in writing or by telephone or facsimile transmission. Board
Members may vote in person or by proxy, and such proxy may be granted in writing, by electronic transmission (as defined in the Delaware LLC Act), or as otherwise permitted by applicable law. Meetings of the Board of Managers may be held by
conference telephone or other communications equipment by means of which all participating Board Members can simultaneously hear each other during the meeting. 
  

	 	7.3.3.	Quorum of the Board of Managers 

 No action may be
taken at a meeting of the Board of Managers unless a quorum consisting of at least a Majority of the Board Members then in office are present in person or by proxy. 
  

	 	7.3.4.	Action by Written Consent 

 Any
action which may be taken by the Board of Managers under this Agreement may be taken without a meeting if consents in writing setting forth the action so taken are signed by a Majority of the Board Members then in office. A consent transmitted by
electronic transmission (as defined in the Delaware LLC Act) by a Board Member or by a person or persons authorized to act for a Board Member shall be deemed to be written and signed for purposes of this Section 7.3.4. 
  

	 	7.3.5.	Voting Rights of the Board of Managers; Required Votes of the Board of Managers 

 Each Board Member shall be entitled to cast one vote with respect to any matter coming before the Board of Managers, except with respect to a determination to seek indemnification pursuant to
Section 7.9 hereof, in which event a Board Member seeking indemnification hereunder shall have no vote with respect to his indemnification. Any action required or permitted to be taken by the Board of Managers must be approved by the
affirmative vote of a Majority of the Board Members then in office; 
  

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 provided, however, that any determination to grant indemnification to a Board Member pursuant to
Section 7.9 hereof shall require the affirmative vote of only one (1) Board Member other than the Board Member in question. 
  

	 	7.3.6.	Compensation of Board Members 

 Board Members, as
such, shall not receive any stated salary for their services, but the Board of Managers may authorize the payment to Board Members of a fixed sum and expenses of attendance, if any, for each regular or special meeting of the Board of Managers
attended; provided that nothing herein contained shall be construed to preclude any Board Member from serving the LLC in any other capacity and receiving compensation therefore. 
  

	 	7.3.7.	Resignations of Board Members 

 Any Board Member
may resign at any time by giving written notice to the Secretary of the LLC. Any such resignation shall take effect at the time specified therein, or, if no time is specified, upon receipt thereof; and unless otherwise specified therein, acceptance
of such resignation shall not be necessary to make it effective. 
  

	 	7.3.8.	Committees of the Board of Managers 

 The Board of
Managers from time to time may appoint one or more committees, each such committee to be comprised of one or more Board Members, to perform any functions or conduct any activities that the Board of Managers has the right, power, and authority to
perform or conduct. 
  

	 	7.4.	Officers 

  

	 	7.4.1.	Number, Election and Term of Office 

 (i) The
officers of the LLC shall be a President and Chief Executive Officer, a Treasurer and a Secretary, and may at the discretion of the Board of Managers include one or more Vice Presidents, Assistant Secretaries and other officers; 
 (ii) The officers of the LLC shall be appointed by the Board of Managers and shall hold their respective offices until their successors are duly elected
and have qualified or until their earlier death, resignation or removal. Except as otherwise provided by law, any number of offices may be held by the same person. 
  

	 	7.4.2.	President and Chief Executive Officer 

 Subject to
the direction of the Board of Managers, the President (i) shall be the chief executive officer of the LLC, (ii) shall have full responsibility and authority for management of the day-to-day operations of the LLC, and (iii) may execute
agreements and contracts and take other actions on behalf of the LLC as authorized by the Board of Managers. The President shall report directly to the Board of Managers. 
  

	 	7.4.3.	Treasurer 

 The Treasurer shall have charge of the
funds of the LLC. He shall keep full and accurate accounts of all receipts and disbursements of the LLC in books belonging to the LLC and shall deposit all monies and other valuable effects in the name and to the credit of the LLC in such
depositories as may be 
  

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 designated by the Board of Managers. He shall disburse the funds of the LLC as may be ordered by the Board of Managers,
and shall render to the Board of Managers, whenever the Board of Managers may require it, an account of all his transactions as Treasurer and an account of the business and financial position of the LLC. 
  

	 	7.4.4.	Secretary 

 The Secretary, at the direction of the
Board of Managers, shall prepare and distribute to the Board Members an agenda in advance of each meeting and shall prepare and distribute promptly to each Board Member written minutes of all meetings of the Board of Managers. The Secretary shall
also be responsible for preparing and distributing to the Board Members any notices received by the LLC or otherwise called for by this Agreement to be given by the LLC. 
  

	 	7.4.5.	Vice President 

 The Board of Managers may appoint
one or more Vice Presidents of the LLC. Each Vice President shall perform such duties as the Board of Managers shall require of such Vice President. The Vice Presidents (in the order of their election) shall, during the absence or incapacity of the
President, assume and perform the duties of the President. 
  

	 	7.4.6.	Assistant Secretary 

 The Board of Managers may
appoint one or more Assistant Secretaries of the LLC. Each Assistant Secretary shall perform such duties as the Board of Managers shall require of such Assistant Secretary. The Assistant Secretaries (in the order of their election) shall, during the
absence or incapacity of the Secretary, assume and perform all functions and duties which the Secretary might lawfully do if present and not under any incapacity. 
  

	 	7.4.7.	Other Officers 

 The Board of Managers may appoint
such other officers and agents of the LLC as the Board of Managers shall deem necessary or appropriate to carry out the business of the LLC upon such terms and conditions, and with such duties, as the Board of Managers may determine. Any such
officer shall hold his or her respective office for the term specified by the Board of Managers unless earlier removed by the Board of Managers. 
  

	 	7.4.8.	Resignation 

 Any officer or agent of the LLC may
resign at any time by giving written notice to the Board of Managers or to the Secretary of the LLC. Any such resignation shall take effect at the time specified therein or, if no time is specified, upon receipt thereof; and unless otherwise
specified therein, acceptance of such resignation shall not be necessary to make it effective. 
  

	 	7.4.9.	Removal; Vacancies; Transfer of Duties 

 (i) Any
officer or agent of the LLC may be removed from office, with or without cause, by the Board of Managers; 
 (ii) Any vacancy in the office
of President, Treasurer, or Secretary for any reason shall be filled by a person designated by the Board of Managers for the unexpired term of the vacant office; and 
  

 - 12 - 

 (iii) The Board of Managers may transfer the power and duties, in whole or in part, of any officer to
any other officer, or persons, notwithstanding the provisions of this Agreement, except as otherwise provided by the laws of the State of Delaware. 
  

	 	7.4.10.	Compensation 

 The officers of the LLC shall be
entitled to such salary or other compensation as the Board of Managers shall determine. 
  

	 	7.4.11.	Third Party Reliance 

 Third parties
dealing with the LLC shall be entitled to rely conclusively upon the power and authority of the officers of the LLC as set forth herein. 
  

	 	7.5.	Day-to-Day Operations 

 Notwithstanding anything in
this Agreement to the contrary, the day-to-day operations, business and affairs of the LLC shall be managed by the Board of Managers and, as delegated by the Board of Managers, by the officers of the LLC. The Board of Managers shall have the power
and authority, on behalf of the LLC, to take or authorize any actions of any kind not inconsistent with this Agreement and that the Board of Managers deems necessary or appropriate to carry on the business and purposes of the LLC. The actions of the
Board of Managers shall bind the LLC. 
  

	 	7.6.	Fiduciary Relationship 

 To the full extent
permitted by the Delaware LLC Act and other applicable law, the Members hereby acknowledge and agree that each Board Member shall serve in a representative capacity as a representative of the Members who elected such Board Member and shall be able
to act solely in the interests of the electing Member and shall have no duties (fiduciary or otherwise) to the LLC or other Members of the LLC other than as set forth in this Agreement. In addition, each Class A Member shall be able to act
solely in the interests of such Class A Member and shall have no duties (fiduciary or otherwise) to the LLC or any other Member of the LLC other than as set forth in this Agreement. To the full extent permitted by law, each Member releases each
other Member and the Board Members elected by other Members from liability for votes cast or withheld, consents granted or failures to consent as a Member or Board Member. 
  

	 	7.7.	Other Activities of Members or Affiliates 

 Subject
to any intellectual property or other property rights of the LLC and to protection of the confidentiality of any information treated as confidential by the LLC (including without limitation with respect to the obligations set forth in
Section 7.11), any Member or any Affiliate thereof may have other business interests and may engage in other business ventures of any nature or description whatsoever, whether currently existing or hereafter created, and may compete,
directly or indirectly, with the business of the LLC. No Member or Affiliate thereof shall incur any liability to the LLC as a result of such Member’s or Affiliate’s pursuit of such other business interests, ventures and competitive
activity, and neither the LLC nor the other Members shall have any right to participate in such other business ventures or to receive or share in any income or profits derived therefrom. For the avoidance of doubt, the corporate opportunity doctrine
shall not apply to the Members with respect to the LLC. The provisions of this Section 7.7 shall not apply to any Class B Member. 
  

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	 	7.8.	Certain Transactions 

 Subject to
Section 5.7, the LLC is expressly permitted in the normal course of its business to enter into transactions with any or all Members or with any Affiliate of any or all Members provided that the price and other terms of such transactions are
fair to the LLC and that the price and other terms of such transactions are not less favorable to the LLC than those generally prevailing with respect to comparable transactions between unrelated parties. 
  

	 	7.9.	Indemnification of the Members, Board Members, Officers and any Affiliate 

 7.9.1. In accordance with Section 18-108 of the Delaware LLC Act, the LLC shall indemnify and hold harmless any Member, Board Member, officer, or Affiliate thereof (individually, in each case, an
“Indemnitee”) to the fullest extent permitted by law from and against any and all losses, claims, demands, costs, damages, liabilities (joint or several), expenses of any nature (including attorneys’ fees and disbursements),
judgments, fines, settlements, and other amounts arising from any and all claims, demands, actions, suits, or proceedings, whether civil, criminal, administrative or investigative, in which the Indemnitee may be involved, or threatened to be
involved, as a party or otherwise, arising out of or incidental to the business or activities of or relating to the LLC, regardless of whether the Indemnitee continues to be a Member, a Board Member, an officer, or Affiliate thereof at the time any
such liability or expense is paid or incurred; provided, however, that this provision shall not eliminate or limit the liability of an Indemnitee (i) for acts or omissions which involve intentional misconduct or a knowing
violation of law, or (ii) for any transaction from which the Indemnitee received any improper personal benefit. 
 7.9.2.
Expenses incurred by an Indemnitee in defending any claim, demand, action, suit, or proceeding subject to this Section 7.9 shall, from time to time, upon request by the Indemnitee be advanced by the LLC prior to the final disposition
of such claim, demand, action, suit, or proceeding upon receipt by the LLC of an undertaking by or on behalf of the Indemnitee to repay such amount, if it shall be determined in a judicial proceeding or a binding arbitration that such Indemnitee is
not entitled to be indemnified as authorized in this Section 7.9. 
 7.9.3. The indemnification provided by this
Section 7.9 shall be in addition to any other rights to which an Indemnitee may be entitled under any agreement, vote of the Members, as a matter of law or equity, or otherwise, both as to an action in the Indemnitee’s capacity as a
Member, a Board Member, an officer, or any Affiliate thereof, and as to an action in another capacity, and shall continue as to an Indemnitee who has ceased to serve in such capacity and shall inure to the benefit of the heirs, successors, assigns,
and administrators of the Indemnitee. 
 7.9.4. The LLC may purchase and maintain insurance on behalf of the Board Members and such
other Persons as the Board of Managers shall determine against any liability that may be asserted against or expense that may be incurred by such Persons in connection with the offering of interests in the LLC or the business or activities of the
LLC, regardless of whether the LLC would have the power to indemnify such Persons against such liability under the provisions of this Agreement. 
 7.9.5. An Indemnitee shall not be denied indemnification in whole or in part under this Section 7.9 or otherwise by reason of the fact that the Indemnitee had an interest in the transaction with respect to which the
indemnification applies if the transaction was otherwise permitted or not expressly prohibited by the terms of this Agreement. 
  

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 7.9.6. The provisions of this Section 7.9 are for the benefit of the Indemnitees,
their heirs, successors, assigns and administrators and shall not be deemed to create any rights for the benefit of any other Persons. 
  

	 	7.10.	Delegation of Rights and Authority 

 Except as
otherwise expressly provided in this Agreement, no Member or Board Member may delegate to any Person or Persons the rights and powers of the Board of Managers or of such Member or Board Member to manage and control the business and affairs of the
LLC. 
  

	 	7.11.	Confidentiality 

 7.11.1. Each Member shall
not, and each Member shall cause its respective Affiliates not to, disclose or use any Confidential Information of the LLC except as permitted by this Agreement. Each of the Members and their Affiliates shall, and shall cause its Affiliates to, use
no less than reasonable care in protecting the Confidential Information of the LLC which it has received. Information shall not be deemed Confidential Information under this Section 7.11 if it: (x) is or becomes publicly known
through no wrongful act or omission of the receiving party; or (y) is independently developed following the date of this Agreement by the receiving party without the use of or reference to the Confidential Information of the disclosing party.
Notwithstanding the provisions of this Section 7.11, in the event a Member or its Affiliate is required to disclose the Confidential Information of the LLC (in such event, the party required to disclose is the “Disclosing
Party”) pursuant to an order or pursuant to a law (and such party has obtained advice of counsel to the effect that such information is required to be disclosed), and would otherwise be prohibited from doing so under this
Section 7.11, the Disclosing Party shall: (i) promptly notify the LLC of the existence, terms and circumstances surrounding such requirement; (ii) consult with the LLC on the advisability of taking legally available steps to
resist or narrow such request; and (iii) if disclosure of such Confidential Information is required, furnish only that portion of the Confidential Information which the Disclosing Party is legally compelled to disclose and advise the LLC
reasonably in advance of such disclosure so that the LLC may seek an appropriate protective order or other reliable assurance that confidential treatment will be accorded such Confidential Information. The Disclosing Party shall not oppose actions
by the LLC to obtain an appropriate protective order or other reliable assurance that confidential treatment will be accorded such Confidential Information. 
 7.11.2. Notwithstanding anything to the contrary herein, the LLC shall be entitled to seek equitable relief (including injunctive relief) to protect their interest in any of its Confidential Information.

 7.11.3. Notwithstanding anything to the contrary contained herein, nothing contained herein shall limit the ability of the Board
Members to use Confidential Information of the LLC in connection with fulfilling their duties to the LLC under this Agreement. 
 7.11.4.
With respect to each former Member, the obligations of such former Member set forth in this Section 7.11 shall continue in full force and effect, notwithstanding that such former Member ceases to hold, directly or indirectly, any LLC
Interests. 
  

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	8.	BANK ACCOUNTS; BOOKS AND RECORDS; STATEMENTS; TAXES; FISCAL YEAR 

  

	 	8.1.	Bank Accounts 

 All funds of the LLC shall be
deposited in its name in such checking and savings accounts, time deposits or certificates of deposit, or other accounts at such banks as shall be designated by the LLC from time to time, and the LLC shall arrange for the appropriate conduct of such
account or accounts. 
  

	 	8.2.	Books and Records 

 The LLC shall keep, or cause to
be kept, accurate, full and complete books and accounts showing assets, liabilities, income, operations, transactions and the financial condition of the LLC. Such books and accounts shall be prepared on the cash or accrual basis of accounting, as
determined by the Board of Managers. Any Class A Member, or its respective designee, shall have access thereto, and access to the LLC’s properties, at any reasonable time during regular business hours and shall have the right to copy said
records at its expense. 
  

	 	8.3.	Financial Statements and Information 

 8.3.1.
All financial statements prepared pursuant to this Section 8.3 shall present fairly the financial position and operating results of the LLC and shall be prepared in accordance with generally accepted accounting principles as provided
in Section 8.2. 
 8.3.2. Within fifteen (15) days after the end of each monthly accounting period (the
“Fiscal Month”) of each Fiscal Year, commencing with the first full Fiscal Month after the date of this Agreement, the President shall prepare and submit or cause to be prepared and submitted to the Class A Members an unaudited
statement of profit and loss for the LLC for such Fiscal Month and an unaudited balance sheet of the LLC dated as of the end of such Fiscal Month, in each case prepared in accordance with generally accepted accounting principles consistently applied
(subject to normal year-end adjustments). 
 8.3.3. Within twenty five (25) days after the end of each quarterly period (the
“Fiscal Quarter”) of each Fiscal Year, commencing with the first full Fiscal Quarter after the date of this Agreement, the President shall prepare and submit or cause to be prepared and submitted to the Class A Members an
unaudited statement of profit and loss and an unaudited statement of cash flows for the LLC for such Fiscal Quarter and an unaudited balance sheet of the LLC dated as of the end of such Fiscal Quarter, in each case prepared in accordance with
generally accepted accounting principles consistently applied (subject to normal year-end adjustments). 
 8.3.4. Within sixty
(60) days after the end of each Fiscal Year during the term of this Agreement, the President shall prepare and submit or cause to be prepared and submitted to the Class A Members (i) an audited balance sheet, together with audited
statements of profit and loss, Members’ equity and changes in financial position for the LLC during such Fiscal Year; (ii) a report of the activities of the LLC during the Fiscal Year; (iii) a report summarizing the fees and other
remuneration paid by the LLC for such Fiscal Year to the Members and any Affiliates thereof; and (iv) an unaudited statement showing any amounts distributed to the Members in respect of such Fiscal Year. 
  

 - 16 - 

 8.3.5. The President shall provide to the Class A Members such other reports and information
concerning the business and affairs of the LLC as may be required by the Delaware LLC Act or by any other law or regulation of any regulatory body applicable to the LLC. 
  

	 	8.4.	Where Maintained 

 The books, accounts and records
of the LLC at all times shall be maintained at the LLC’s principal office or such other office or offices as the Board of Managers shall determine. 
  

	 	8.5.	Tax Returns 

 8.5.1. The President shall, at
the expense of the LLC, cause to be prepared and delivered to the Class A Members, in a timely fashion after the end of each Fiscal Year, copies of all federal and state income tax returns for the LLC for such Fiscal Year, one copy of which
shall be timely filed with the appropriate tax authorities. Such returns shall accurately reflect the results of operations of the LLC for such Fiscal Year. HCI is hereby appointed as the “tax matters partner” (as defined in the Code) of
the LLC (the “Tax Matters Member”) and is authorized and required to represent the LLC (at the expense of the LLC) in connection with all examinations of the affairs of the LLC by any federal, state, or local tax authorities,
including any resulting administrative and judicial proceedings, and to expend funds of the LLC for professional services and costs associated therewith; provided, however, that the Tax Matters Member shall not make any tax election or
settle or compromise any tax audit, controversy, litigation or issue without the advice and consent of the Board of Managers. Each Class A Member shall be designated a “notice partner” as defined in the Code. 
 8.5.2. The Tax Matters Member shall keep all Class A Members fully informed of the progress of any such examination, audit or other
proceeding, and any Class A Member with a Percentage Interest of at least 10% of all Percentage Interests held by Class A Members (and any Person that was a Class A Member with a Percentage Interest of at least 10% of all Percentage
Interests held by Class A Members in the year to which such examination, audit or other proceeding relates) shall have the right to participate in such examination, audit or other proceeding. Each Member and former Member agrees to cooperate
with the Board of Managers and the Tax Matters Member and to do or refrain from doing any or all things reasonably required by the Board of Managers in connection with the conduct of such proceedings. 
  

	 	8.6.	Fiscal Year 

 The fiscal year of the LLC for
financial, accounting, Federal, state and local income tax purposes shall initially be the calendar year (the “Fiscal Year”). The Board of Managers shall have authority to change the beginning and ending dates of the Fiscal Year if
the Board of Managers, in its absolute discretion, deems such change to be necessary or appropriate to the business of the LLC. 
  

	9.	TRANSFER AND CONVERSION OF LLC INTERESTS AND THE ADDITION, SUBSTITUTION AND WITHDRAWAL OF MEMBERS 

  

	 	9.1.	Transfer of LLC Interests 

 9.1.1. The term
“transfer,” when used in this Section 9 with respect to an LLC Interest, shall include any sale, assignment, gift, pledge, hypothecation, mortgage, exchange, or other disposition, except that such term shall not include any
pledge, mortgage, or hypothecation of or granting of a security interest in an LLC Interest in connection with any financing obtained on behalf of the LLC. 
  

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 9.1.2. No LLC Interest shall be transferred, in whole or in part, except in accordance with the
terms and conditions set forth in this Section 9. Any transfer or purported transfer of any LLC Interest not made in accordance with this Section 9 shall be void ab initio. 
  

	 	9.2.	Restrictions on Transfers 

 9.2.1.
No Member may transfer all or any portion of its LLC Interest without the express written consent of Class A Members holding a majority in interest of the non-transferred LLC Interests held by Class A Members in their sole and absolute
discretion; provided, however, that any Class A Member may transfer all or a portion of its LLC Interest to a Permitted Transferee. 
 9.2.2. Any transferee of an LLC Interest shall become a substituted Member only upon (i) the express written consent of Class A Members holding a Majority in Interest of the non-transferred LLC
Interests held by Class A Members (provided that if such transferee was a Permitted Transferee such consent shall not be required); (ii) the transferee agreeing to be bound by all the terms and conditions of the Certificate and this
Agreement as then in effect; and (iii) receipt of any necessary regulatory approvals. Unless and until a transferee is admitted as a substituted Member, the transferee shall have no right to exercise any of the powers, rights, and privileges of
a Member hereunder. A Member who has transferred its LLC Interest shall cease to be a Member upon transfer of the Member’s entire LLC Interest and thereafter shall have no further powers, rights, and privileges as a Member hereunder except as
provided in Section 7.9 and Section 8.5.2. 
 9.2.3. For the purposes of Section 9.2.1 and
Section 9.2.2, in calculating a majority in interest of the non-transferred LLC Interests held by Class A Members, the LLC Interests of a transferring Class A Member shall be excluded. 
 9.2.4. The LLC, each Member, the Board of Managers, the officers and any other Person or Persons having business with the LLC need deal only with
Members who are admitted as Members or as substituted Members of the LLC, and they shall not be required to deal with any other Person by reason of transfer by a Member or by reason of the death of a Member, except as otherwise provided in this
Agreement. In the absence of the substitution (as provided herein) of a Member for a transferring or a deceased Member, any payment to a Member or to a Member’s executors or administrators shall acquit the LLC and the Board of Managers of all
liability to any other Persons who may be interested in such payment by reason of an assignment by, or the death of, such Member. 
  

	 	9.3.	Publicly Traded Partnership 

 No transfer shall be
allowed if in the determination of the Board of Managers such transfer could reasonably be expected to cause the LLC to be a “publicly traded partnership” within the meaning of Section 7704 of the Code. 
  

	 	9.4.	No Right to Withdraw 

 No Member
shall have any right to resign, retire or otherwise withdraw from the LLC without the express prior approval of all of the Class A Members. 
  

 - 18 - 

	 	9.5.	Conversion 

 In the event that the LLC determines
to consummate a Qualified Initial Public Offering, the Board of Managers shall have the power and authority, to incorporate the LLC or take such other action as it may deem advisable, including, without limitation, (A) dissolving the LLC,
creating one or more subsidiaries of the newly formed corporation and transferring to such subsidiaries any or all of the assets of the LLC (including by merger) or (B) causing the Members to exchange their Units for common stock of the newly
formed corporation. In connection with any such transaction, the Members shall receive, in exchange for their respective Units, shares of common stock of such corporation or its subsidiaries having the same relative economic interest in such
corporation or its subsidiaries as is set forth in this Agreement, subject to any modifications required solely as a result of the conversion to corporate form. At the time of such transaction, the Members shall, and hereby agree to, take any and
all actions deemed reasonably necessary and appropriate by the Board of Managers to effect such transaction, including entering into a stockholders’ agreement providing for (i) the restrictions on Transfer set forth in this Agreement;
provided that such restrictions shall not apply to sales in broadly disseminated public offerings, to sales in accordance with Rule 144 under the Securities Act or to sales following the consummation of such Qualified Initial Public Offering
and (ii) an agreement to vote all shares of capital stock held by them to elect the Board of Managers as the directors of the new corporation in accordance with this Agreement. Prior to consummating any such transaction, the Members shall
approve the proposed forms of a certificate of incorporation, by-laws, stockholders’ agreement and any other governing documents proposed to be established for such corporation and its subsidiaries, if any, all of which shall, as nearly as
practicable, reflect the rights and obligations of the Members under this Agreement and comparable agreements applicable to any subsidiary as of the date of such transaction. Prior to effecting any conversion under this Section 9.5, the
Class A Members shall be given sufficient time to effect reasonable tax planning and other internal restructuring as such Class A Member shall deem to be reasonably necessary. 
  

	10.	DISSOLUTION AND LIQUIDATION 

  

	 	10.1.	Events Causing Dissolution 

 Subject to the
provisions of Section 10.3 below, the LLC shall be dissolved and its affairs wound up upon the occurrence of any of the following events: 
 10.1.1. The consent in writing to dissolve and wind up the affairs of the LLC by all of the Class A Members; 
 10.1.2. The sale or other disposition by the LLC of all or substantially all of the LLC Assets and the collection of all amounts derived from any such sale or other disposition, including all amounts payable to
the LLC under any promissory notes or other evidences of indebtedness taken by the LLC (unless the Class A Members shall elect to distribute such indebtedness to the Members in liquidation), and the satisfaction of contingent liabilities of the
LLC in connection with such sale or other disposition. 
 10.1.3. The Termination Date; or 
 10.1.4. The occurrence of any other event that, under the Delaware LLC Act, would cause the dissolution of the LLC or that would make it unlawful
for the business of the LLC to be continued. 
  

 - 19 - 

	 	10.2.	Cancellation of Certificate 

 Upon the dissolution
and completion of winding up of the LLC, the Certificate shall be canceled in accordance with the provisions of Section 18-203 of the Delaware LLC Act, and the LLC (or any other Person responsible for winding up the affairs of the LLC) shall
promptly notify the Members of such dissolution. 
  

	 	10.3.	Distributions Upon Dissolution 

 10.3.1.
Upon the dissolution of the LLC, the LLC (or any other Person responsible for winding up the affairs of the LLC) shall proceed without any unnecessary delay to sell or otherwise liquidate the LLC Assets and pay or make due provision for the
payment of all debts, liabilities and obligations of the LLC. 
 10.3.2. The LLC (or any other Person responsible for winding up the
affairs of the LLC) shall distribute the net liquidation proceeds and any other liquid assets of the LLC after the payment of all debts, liabilities and obligations of the LLC (including, without limitation, all amounts owing to a Member under this
Agreement or under any agreement between the LLC and a Member entered into by the Member other than in its capacity as a Member in the LLC), the payment of expenses of liquidation of the LLC, and the establishment of a reasonable reserve in an
amount estimated by the Board of Managers to be sufficient to pay any amounts reasonably anticipated to be required to be paid by the LLC, which shall be distributed to the Members in accordance with Section 6.3. 
  

	 	10.4.	Reasonable Time for Winding Up 

 A reasonable time
shall be allowed for the orderly winding up of the business and affairs of the LLC and the liquidation of its assets pursuant to Section 10.3 in order to minimize any losses otherwise attendant upon such a winding up. 
  

	11.	MISCELLANEOUS PROVISIONS 

  

	 	11.1.	Compliance with Delaware LLC Act 

 Each Member
agrees not to take any action or fail to take any action which, considered alone or in the aggregate with other actions or events, would result in the termination of the LLC under the Delaware LLC Act. 
  

	 	11.2.	Additional Actions and Documents 

 Each of the
Members hereby agrees to take or cause to be taken such further actions, to execute, acknowledge, deliver and file or cause to be executed, acknowledged, delivered and filed such further documents and instruments, and to use commercially reasonable
efforts to obtain such consents, as may be necessary or as may be reasonably requested by the LLC in order to fully effectuate the purposes, terms and conditions of this Agreement. 
  

 - 20 - 

	 	11.3.	Notices 

 All notices, demands, requests or other
communications which may be or are required to be given, served, or sent by a Member pursuant to this Agreement shall be in writing and shall be hand delivered (including delivery by courier), mailed by first class, registered or certified mail,
return receipt requested, postage prepaid, or transmitted by facsimile transmission, addressed as set forth on Exhibit A attached hereto. 
 Each Member may designate by notice in writing a new address to which any notice, demand, request or communication may thereafter be so given, served or sent. Each notice, demand, request or communication which shall be delivered, mailed or
transmitted in the manner described above shall be deemed sufficiently given, served, sent or received for all purposes at such time as it is delivered to the addressee (with an affidavit of personal delivery, the return receipt, the delivery
receipt, or (with respect to a telex) the answer back being deemed conclusive evidence of such delivery) or at such time as delivery is refused by the addressee upon presentation. 
  

	 	11.4.	Severability 

 The invalidity of any one or more
provisions hereof or of any other agreement or instrument given pursuant to or in connection with this Agreement shall not affect the remaining portions of this Agreement or any such other agreement or instrument or any part thereof, all of which
are inserted conditionally on their being held valid in law; and in the event that one or more of the provisions contained herein or therein should be invalid, or should operate to render this Agreement or any such other agreement or instrument
invalid, this Agreement and such other agreements and instruments shall be construed as if such invalid provisions had not been inserted. 
  

	 	11.5.	Survival 

 It is the express intention and
agreement of the Members that all covenants, agreements, statements, representations, warranties and indemnities made in this Agreement shall survive the execution and delivery of this Agreement. 
  

	 	11.6.	Waivers 

 Neither the waiver by the LLC or a Member
of a breach of or a default under any of the provisions of this Agreement, nor the failure of the LLC or a Member, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right, remedy or privilege hereunder,
shall thereafter be construed as a waiver of any subsequent breach or default of a similar nature, or as a waiver of any such provisions, rights, remedies or privileges hereunder. 
  

	 	11.7.	Exercise of Rights 

 No failure or delay on the
part of a Member or the LLC in exercising any right, power or privilege hereunder and no course of dealing between the Members or between a Member and the LLC shall operate as a waiver thereof; nor shall any single or partial exercise of any right,
power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein expressly provided are cumulative and not exclusive of any other rights or remedies
which a Member or the LLC would otherwise have at law or in equity or otherwise. 
  

 - 21 - 

	 	11.8.	Binding Effect 

 Subject to any provisions hereof
restricting assignment, this Agreement shall be binding upon and shall inure to the benefit of the Members and their respective heirs, devises, executors, administrators, legal representatives, successors and assigns. 
  

	 	11.9.	Limitation on Benefits of this Agreement 

 Subject
to Section 7.9, it is the explicit intention of the Members that no Person other than the Members and the LLC is or shall be entitled to bring any action to enforce any provision of this Agreement against any Member or the LLC, and that
the covenants, undertakings and agreements set forth in this Agreement shall be solely for the benefit of, and shall be enforceable only by, the Members (or their respective successors and assigns as permitted hereunder), and the LLC. 
  

	 	11.10.	Amendment Procedure 

 Amendments to Exhibit
A to reflect actions taken pursuant to Section 5.3 may be made by the Board of Managers. Any other amendment or modification to this Agreement may be made only upon the written consent of all Class A Members. 
  

	 	11.11.	Entire Agreement 

 This Agreement (including the
Schedules hereto) contain the entire agreement between the Members with respect to the matters contemplated herein, and supersedes all prior oral or written agreements, commitments or understandings with respect to the matters provided for herein
and therein. 
  

	 	11.12.	Pronouns 

 All pronouns and any variations thereof
shall be deemed to refer to the masculine, feminine, neuter, singular or plural, as the identity of the Person may require. 
  

	 	11.13.	Headings 

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

	 	11.14.	Governing Law 

 This Agreement, the rights and
obligations of the parties hereto, and any claims or disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of Delaware (but not including the choice of law rules thereof). 
  

	 	11.15.	Execution in Counterparts 

 To facilitate
execution, this Agreement may be executed in as many counterparts as may be required; and it shall not be necessary that the signatures of, or on behalf of, each party, or that the signatures of all persons required to bind any party, appear on each
counterpart; but it shall be sufficient 
  

 - 22 - 

 that the signature of, or on behalf of, each party, or that the signatures of the persons required to bind any party,
appear on one or more of the counterparts. All counterparts shall collectively constitute a single agreement. It shall not be necessary in making proof of this Agreement to produce or account for more than a number of counterparts containing the
respective signatures of, or on behalf of, all of the parties hereto. 
  

	 	11.16.	Required FCC Consents 

 In the event that any
Transfer of all or any portion of a Member’s LLC Interest in accordance with this Agreement would (i) result in a voluntary or involuntary assignment or transfer of control, within the meaning of the applicable Communications Laws, of any
telecommunications license, authorization, certificate, approval, or permit, and (ii) such voluntary or involuntary assignment or transfer of control requires consent of the Federal Communications Commission (the “FCC”) or
another governmental authority under the Communications Laws, each of the Members and the LLC shall cooperate and use commercially reasonable efforts to make any required filings and to obtain the consent of appropriate governmental authorities, and
the Members and the LLC shall obtain the consent of the FCC. 
 [Signatures on following page] 
  

 - 23 - 

 IN WITNESS WHEREOF, the undersigned have duly executed this Second Amended and Restated Limited
Liability Company Agreement as of the day and year first hereinabove set forth. 
  

			
	CLASS A MEMBER:
	
	HUGHES COMMUNICATIONS, INC.
		
	By:	 	 /s/ Dean A. Manson

	Name:	 	 Dean A. Manson

	Title:	 	 Vice President, General Counsel and Secretary

  

			
	CLASS B MEMBERS:
	
	PRADMAN KAUL
		
	By:	 	 /s/ Pradman Kaul

	
	PRADEEP KAUL
		
	By:	 	 /s/ Pradeep Kaul

	
	JIM LUCCHESE
		
	By:	 	 /s/ Jim Lucchese

	
	BAHRAM POURMAND
		
	By:	 	 /s/ Bahram Pourmand

	
	ADRIAN MORRIS
		
	By:	 	 /s/ Adrian Morris

	
	PAUL GASKE
		
	By:	 	 /s/ Paul Gaske

	
	JEFFREY A. LEDDY
		
	By:	 	 /s/ Jeffrey A. Leddy

	
	GRANT A. BARBER
		
	By:	 	 /s/ Grant A. Barber

 EXHIBIT A 
 Members 
  

											
	 Member
	  	Class A Units	  	Capital
Contributions	  	Class B Units	  	LLC
Gain/Income at
Issuance of Class
B Units	  	 Notice Address

						
	 •      Hughes Communications, Inc.
	  	95,000	  	$123,424,000	  	-0-	  	-0-	  	 Hughes Communications, Inc.
 11717 Exploration Lane
 Germantown
 MD 20876
 Attn.: Dean Manson
 Telecopy No.: 301-428-2818
  
 with copies (which shall not constitute notice) to:
  
 Apollo Management, L.P.
 9 West 57th Street
 New York, NY 10019
 Attn.: Andy Africk
 Telecopy No.:
212-515-3283
  
 and
  
 O’Melveny & Myers LLP
 Times Square Tower
 7 Times
Square
 New York, NY 10036
 Attn.: John J. Suydam, Esq.
 Telecopy No.: 212-408-2420

						
	 •      Pradman Kaul
	  	-0-	  	-0-	  	1,500	  	-0-	  	 Hughes Network Systems, LLC
 11717 Exploration Lane
 Germantown, MD 20876
  
 with copies (which shall not constitute notice) to:
  
 Doreen
E. Lilienfeld, Esq.
 Shearman & Sterling LLP
 599 Lexington Avenue
 13th Floor
 New York,
 NY 10022 212-848-7179
(facsimile)

											
	 •      Pradeep Kaul
	  	-0-	  	-0-	  	200	  	-0-	  	 Hughes Network Systems, LLC
 11717 Exploration
Lane
 Germantown, MD 20876
  
 with copies (which shall not constitute notice) to:
  
 Doreen E. Lilienfeld, Esq.
 Shearman & Sterling LLP
 599 Lexington Avenue
 13th
Floor
 New York, NY 10022
 212-848-7179 (facsimile)

						
	 •      Jim Lucchese
	  	-0-	  	-0-	  	200	  	-0-	  	 Hughes Network Systems, LLC
 11717 Exploration
Lane
 Germantown, MD 20876
  
 with copies (which shall not constitute notice) to:
  
 Doreen E. Lilienfeld, Esq.
 Shearman & Sterling LLP
 599 Lexington Avenue
 13th
Floor
 New York, NY 10022
 212-848-7179 (facsimile)

						
	 •      Bahram Pourmand
	  	-0-	  	-0-	  	500	  	-0-	  	 Hughes Network Systems, LLC
 11717 Exploration
Lane
 Germantown, MD 20876
  
 with copies (which shall not constitute notice) to:
  
 Doreen E. Lilienfeld, Esq.
 Shearman & Sterling LLP
 599 Lexington Avenue
 13th
Floor
 New York, NY 10022
 212-848-7179 (facsimile)

											
	 •      Adrian Morris
	  	-0-	  	-0-	  	500	  	-0-	  	 Hughes Network Systems, LLC
 11717 Exploration Lane
 Germantown, MD 20876
  
 with copies (which shall not constitute notice) to:
  
 Doreen
E. Lilienfeld, Esq.
 Shearman & Sterling LLP
 599 Lexington Avenue
 13th Floor
 New York, NY 10022
 212-848-7179
(facsimile)

						
	 •      Paul Gaske
	  	-0-	  	-0-	  	650	  	-0-	  	 Hughes Network Systems, LLC
 11717 Exploration Lane
 Germantown, MD 20876
  
 with copies (which shall not constitute notice) to:
  
 Doreen
E. Lilienfeld, Esq.
 Shearman & Sterling LLP
 599 Lexington Avenue
 13th Floor
 New York, NY 10022
 212-848-7179
(facsimile)

						
	 •      Jeffrey A. Leddy
	  	-0-	  	-0-	  	600	  	-0-	  	 2569 Wynnton Drive
 Duluth, Georgia 30097
 Telephone: 678-474-4834
 Telecopy: 678-775-6714

						
	 •      Grant A. Barber
	  	-0-	  	-0-	  	500	  	-0-	  	 Hughes Network Systems, LLC
 11717 Exploration Lane
 Germantown, MD 20876
  
 with copies (which shall not constitute notice) to:

 ADDENDUM I 
 DEFINITIONS 
 “Affiliate” - When used with reference to a specified Person, means
(i) any Person that directly or indirectly through one or more intermediaries controls or is controlled by or is under common control with the specified Person, (ii) any Person that is an officer or director of, general partner in or
trustee of, or serves in a similar capacity with respect to, the specified Person or of which the specified Person is an officer, director, general partner or trustee, or with respect to which the specified Person serves in a similar capacity,
(iii) any Person for which an officer or director of, general partner in or trustee of, or individual serving in a similar capacity with respect to, the specified Person serves in any such capacity, and (iv) any relative or spouse of the
specified Person who makes his or her home with that of the specified Person. As used in this definition of “Affiliate”, the term “control” (including as used in the correlative terms “controlling” and “controlled
by”) means the possession, directly or indirectly, of (i) more than 50% of the securities or other ownership interests in a Person or the voting power of a Person or (ii) the power to direct or cause the direction of the management or
policies (whether through the ownership of voting securities, by contract, or otherwise) of a Person. 
 “Agreement” - This
Second Amended and Restated Limited Liability Company Agreement, as it may be amended or supplemented from time to time. 
 “Board
of Managers” - The group of individuals elected by the Class A Members pursuant to Section 7.3 who are vested with the responsibility and authority for management of the business and affairs of the LLC. 
 “Board Member” - A Person elected by the Class A Members to serve on the Board of Managers in accordance with the terms of this
Agreement. 
 “Capital Account” - The capital account established and maintained for each Member pursuant to the Tax
Allocations Addendum in Addendum II attached hereto. 
 “Capital Contribution” - Any property (including cash)
contributed to the LLC by or on behalf of a Member. 
 “Certificate” - The Certificate of Formation of the LLC, dated as of
November 12, 2004, and any and all amendments thereto, filed on behalf of the LLC with the Recording Office as required under the Delaware LLC Act. 
 “Class A Members” - Members owning Class A Units. 
 “Class A Units”
- Interests in the LLC designated as Class A Units. 
 “Class B Members” - Members owning Class B Units.

 “Class B Units” - Interests in the LLC designated as Class B Units. 
 “Code” - The Internal Revenue Code of 1986, as in effect and hereafter amended, and, unless the context otherwise requires, applicable
regulations thereunder. Any reference herein to a specific section or sections of the Code shall be deemed to include a reference to any corresponding provision of future law. 
  

 A I - 1 

 “Communications Laws” - All United States federal and state, and any foreign (including
those of the European Union), statutes, rules, regulations, orders, administrative and judicial doctrines, and other laws that are designed or intended to regulate the communications or telecommunications industry, including the Communications Act
of 1934, as amended, the Telecommunications Act of 1996, as amended, any rule, regulation or policy of the FCC, and/or any statute, rule, regulation or policy of any other governmental authority with respect to the operation of channels of radio
communication and/or the provision of communications or telecommunications services. 
 “Confidential Information” - All
Trade Secrets and other confidential or proprietary information of a Person, including information derived from reports, investigations, research, work in progress, codes, marketing and sales programs, financial projections, cost summaries, pricing
formulas, contract analyses, financial information, projections, confidential filings with any governmental authority, and all other confidential concepts, methods of doing business, ideas, materials or information prepared or performed for, by or
on behalf of such Person by its employees, officers, directors, agents, representatives or consultants. 
 “Delaware LLC
Act” - The Delaware Limited Liability Company Act, as amended. 
 “Distributions” - As defined in Section
6.3. 
 “DTV Transfer” - As defined in the recitals hereto. 
 “First Amended and Restated LLC Agreement” - As defined in the recitals hereto. 
 “First Amendment” - As defined in the recitals hereto. 
 “Fiscal Year” - As defined in Section 8.6. 
 “Indemnitee” -
As defined in Section 7.9. 
 “LLC” - Hughes Network Systems, LLC, a Delaware limited liability company.

 “LLC Assets” - All assets and property, whether tangible or intangible and whether real, personal, or mixed, at any
time owned by or held for the benefit of the LLC. 
 “LLC Interest” - As to any Member, all of the interest of that
Member in the LLC, including, without limitation, such Member’s (i) right to a distributive share of the income, gain, losses and deductions of the LLC in accordance with this Agreement, and (ii) right to a distributive share of LLC
Assets. 
 “Majority of the Board Members” - Board Members constituting a majority of the Board of Managers. 
 “Majority of the Members” - Members owning Class A Units which represent a majority of Percentage Interests held by holders of
Class A Units. 
  

 A I - 2 

 “Member” - The signatory to this Agreement or any other Person who in the future shall
execute and deliver this Agreement, or other documents as the Class A Members deems necessary or appropriate to evidence such Person’s agreement to be admitted as a Member and be bound by the terms and conditions of the Certificate and
this Agreement, and be admitted to the LLC as a new Member pursuant to the provisions hereof. 
 “Net Income or Net Loss” -
As defined in the Tax Allocations Addendum. 
 “Ordinary Course of Business” - The historical and customary
practices of the LLC, and the historical and customary practices Hughes Network Systems, Inc. prior to the date of this Agreement. 
 “Percentage Interest” - A Member’s ownership interest in the LLC by virtue of its ownership of Units expressed as a percentage of the Units held by all Members. 
 “Permitted Transferee” - With respect to any Class A Member, any Person controlled (as defined in the definition of
“Affiliate”) by such Member.  
 “Person” - Any individual, corporation, association, partnership, limited
liability company, joint venture, trust, estate, or other entity or organization. 
 “Purchase Agreement” - As defined in
the recitals hereto. 
 “Recording Office” - The office of the Secretary of State of the State of Delaware.

 “Separation Agreement” - As defined in the recitals hereto. 
 “SkyTerra” - As defined in the recitals hereto. 
 “SkyTerra Transfer” - As defined in the recitals hereto. 
 “Tax Allocations
Addendum” - The Addendum attached to the Agreement as Addendum II and incorporated herein by reference. 
 “Tax
Matters Member” - As defined in Section 8.5. 
 “Taxable Income Distribution Amount” - The product of
(i) Net Income (as defined in Addendum II) for the relevant Fiscal Year multiplied by, (ii) a Class A Member’s Percentage Interest and (iii) the greater of (A) the highest effective tax rate applicable to any
Class A Member residing in the State of New York and (B) 45%. 
 “Termination Date” - The date which is the
99th anniversary of the date upon which the Certificate was duly filed with the Recording Office. 
 “Trade Secrets” - all
trade secrets under applicable law and other rights in know-how and confidential or proprietary information, processing, manufacturing or marketing information, including new developments, inventions, processes, ideas, data processing or other
computer software (source code and object code), or other proprietary information that provides advantages over competitors who do not know or use it and documentation thereof (including related papers, blueprints, drawings, chemical compositions,
formulae, diaries, notebooks, specifications, designs, methods of manufacture, flow charts, and data processing software and compilations of information) and all claims and rights related thereto. 
  

 A I - 3 

 “Units” - The Class A Units and Class B Units, collectively. 
 “Vested Units” - as defined in Section 6.3.3. 
  

 A I - 4 

 ADDENDUM II 
 TAX ALLOCATIONS ADDENDUM 
  

	1.	PURPOSE 

 This Tax Allocations Addendum (the
“Addendum”) is attached to, and constitutes a part of, the Second Amended and Restated Limited Liability Company Agreement of Hughes Network Systems, LLC (the “LLC”), as it may be amended from time to time (the
“Agreement”), for the purpose of setting forth the rules governing the maintenance of the Capital Accounts required to be maintained for each Member under the Agreement and the rules governing the allocation of the LLC’s items
of Net Income and Net Loss, other items of income, gain, loss, deduction and credit, and taxable income, gain, loss, deduction, and credit. This Addendum is to be construed and applied to the extent practicable in a manner consistent with the
Members’ Agreement with respect to LLC distributions as set forth in Section 6 of the Agreement. 
  

	2.	CERTAIN DEFINITIONS 

 Unless otherwise provided in
this Addendum, all capitalized terms used in this Addendum shall have the meanings assigned to them in other provisions of the Agreement. In addition, the following terms shall have the meanings indicated: 
 “Accounting Period” - A period beginning on the first day following any Allocation Date (or in the case of the initial
Accounting Period, which shall begin immediately upon organization of the LLC) and ending on the next succeeding Allocation Date. 
 “Addendum” - This Tax Allocations Addendum, as it may be amended from time to time. 
 “Adjusted
Basis” - The basis for determining gain or loss for federal income tax purposes from the sale or other disposition of property, as defined in section 1011 and other applicable provisions of the Code and the Regulations. 
 “Adjusted Capital Account Deficit” - The deficit balance (if any) in a Member’s Capital Account after (a) crediting to such
Capital Account any amount which such Member is obligated to restore pursuant to the Agreement or is deemed obligated to restore pursuant to the minimum gain chargeback provisions in Regulations sections 1.704-2(g)(1) and 1.704-2(i)(5) and
(b) charging to such Capital Account any adjustments, allocations or distributions described in the qualified income offset provisions in Regulations section 1.704-1(b)(2)(ii)(d)(4), (5) or (6) which are required to be charged to such
Capital Account pursuant to this Addendum. 
 “Allocation Date” - As defined in Section 3.1 of this Addendum.

 “Capital Gain or Loss” - For each Accounting Period, the net capital gain or loss of the LLC for U.S. Federal income tax
purposes. 
 “Fiscal Year” - The fiscal year of the LLC under the Agreement. 
  

 A II - 1 

 “Gross Asset Value” - With respect to any asset, the asset’s Adjusted Basis,
except: 
 (a) the initial Gross Asset Value of any asset contributed (or deemed contributed) to the LLC shall be such asset’s fair
market value at the time of such contribution; and 
 (b) the Gross Asset Values of all LLC Assets shall be adjusted to equal their
respective fair market values and to reflect the relative economic interests of the Members in the LLC as a result of (i) the acquisition of an additional interest in the LLC by a new or existing Member in exchange for more than a de minimis
capital contribution or in exchange for the performance of services, (ii) the distribution by the LLC to a Member of a more than de minimis amount of LLC property as consideration for an interest in the LLC, or (iii) the liquidation of the
LLC within the meaning of Regulations section 1.704-1(b)(2)(ii)(g). 
 “Net Income” and “Net Loss”
- For a period as determined for federal income tax purposes, the taxable income or loss, respectively, computed with the following adjustments: 
 (c) items of gain, loss and deduction relating to LLC Assets shall be computed based on the Gross Asset Values of such LLC Assets rather than upon their Adjusted Bases, and in the case of depreciation, amortization or
other cost recovery deductions, computed using the same method and useful life used by the LLC in computing such deductions for federal income tax purposes; 
 (d) tax-exempt income of the LLC shall be treated, for purposes of this definition only, as gross income; 
 (e) expenditures of the LLC described in section 705(a)(2)(B) of the Code or treated as such expenditures pursuant to Regulations section 1.704-1(b)(2)(iv)(i) shall be treated, for purposes of this definition only, as deductible expenses;
and 
 (f) notwithstanding any other provision of this definition, any items which are specially allocated pursuant to
Section 4.3 of this Addendum shall not be taken into account in computing Net Income or Net Loss. 
 For the avoidance of doubt,
Net Income and Net Loss equals to sum of “Operating Income or Loss” and “Capital Gain or Loss” for each tax year. 
 “Nonrecourse Deduction” - A deduction of the LLC described in Regulations sections 1.704-2(c) and (j)(1)(ii). 
 “Operating Income or Loss” – For each Accounting Period, the net ordinary income or loss of the LLC calculated without taking into account any gain or loss from the sale or disposition of a capital asset that is
treated as a capital gain or loss for U.S. Federal income tax purposes. 
 “Partially Adjusted Capital Account” - With
respect to any Member and any Accounting Period, the aggregate capital account of such Member in the LLC as of the beginning of such Accounting Period, adjusted as set forth in Section 3.1 of this Addendum with respect to such Accounting
Period but before giving effect to any allocations of Net Income or Net Loss or items of income, gain, loss and deduction of such Accounting Period pursuant to Section 3.1 of this Addendum. 
 “Partnership Minimum Gain” - As defined in Regulations section 1.704-2(d). 
 “Partner Nonrecourse Debt” - As defined in Regulations section 1.704-2(b)(4). 
  

 A II - 2 

 “Partner Nonrecourse Debt Minimum Gain” - As defined in Regulations section
1.704-2(i)(2). 
 “Regulations” - The regulations issued by the United States Department of the Treasury under the Code as
now in effect and as they may be amended from time to time, and any successor regulations. 
 “Regulatory Allocations” - As
defined in Section 4.2(g) of this Addendum. 
 “Target Capital Account” - With respect to any Member for any
Accounting Period in which an allocation of Net Income or Net Loss is to be made, an amount (which may be either a positive or a deficit balance) equal to the amount such Member would receive as a distribution if all assets of the LLC as of such
date were sold for cash equal to the Gross Asset Value of such assets on the books of the LLC, all liabilities of the LLC were satisfied to the extent required by their terms, and the net proceeds were distributed pursuant to Section 6.3.3
(without giving effect to Section 6.3.3(c)), all of the foregoing computed after giving effect to any capital contributions and distributions that have been made for such Accounting Period. 
  

	3.	MAINTENANCE OF CAPITAL ACCOUNTS 

  

	 	3.1.	In General 

 A separate capital account shall be
maintained on the books of the LLC for each Member, which shall be adjusted in accordance with Treasury Regulation Section 1.704-1(b)(2)(iv), effective as of: (1) December 31 of each year, (2) immediately prior to the acquisition of
any Unit or the occurrence of any capital contribution to the LLC by any Person, (3) the date of a liquidation, dissolution or sale of the LLC, (4) the date of any Distribution by the LLC, and (5) any other date selected by the Board
of Managers (each of the foregoing, an “Allocation Date”). Each Capital Account shall be: 
 (i) credited with (A) the
amount of cash and the fair market value of any property (net of liabilities secured by such property, which liabilities are assumed or taken subject to by the LLC) contributed to the LLC by such Member and (B) all Net Income and other
specially allocated items of income and gain of the LLC allocated to such Member pursuant to Section 4 of this Addendum; and 
 (ii) debited with (A) all Net Losses and other specially allocated items of loss or deduction of the LLC allocated to such Member pursuant to Section 4 of this Addendum and (B) all cash and the fair market value of any
property (net of liabilities secured by such property, which liabilities are assumed or taken subject to by such Member) distributed by the LLC to such Member pursuant to Section 6.3 or Section 10.4 of the Agreement. Any
references in this Addendum or in the Agreement to the Capital Account of a Member shall be deemed to refer to such Capital Account as the same may be credited or debited from time to time as set forth herein. 
  

 A II - 3 

	 	3.2.	Adjustment of Gross Asset Value 

 If the Gross
Asset Value of an LLC Asset is adjusted pursuant to paragraph (b) of the definition of “Gross Asset Value,” all Members’ Capital Accounts shall be adjusted to reflect the manner in which the unrealized income, gain, loss and
deduction inherent in such LLC Asset (that has not been reflected in the Capital Accounts previously) would be allocated among the Members if there were a taxable disposition of such LLC Asset for its fair market value (but not for less than the
amount of any nonrecourse indebtedness secured by such LLC Asset). 
  

	 	3.3.	Succession to Capital Account 

 Any Permitted
Transferee of an interest in the LLC shall succeed to the Capital Account relating to the interest transferred. 
  

	4.	ALLOCATIONS 

  

	 	4.1.	Operating Income and Operating Loss 

 Subject to
Sections 4.3 and 4.4, the Operating Income and Operating Loss of the LLC shall be allocated to the Class A Members, pro rata in accordance with the number of Units held. 
  

	 	4.2.	Capital Gain or Loss 

 The Capital Gain or Loss for
the LLC for any Accounting Period shall be allocated for federal income tax purposes, as of the end of such Accounting Period, as follows: 
 Net Income and Net Losses of the LLC shall be allocated among the Members so as to reduce, proportionately, the difference between their respective Target Capital Accounts and Partially Adjusted Capital Accounts as of the end of such
Accounting Period. No portion of Capital Gain or Loss for any Accounting Period shall be allocated to a Member, in the case of Capital Gain, whose Partially Adjusted Capital Account is greater than or equal to its Target Capital Account or, in the
case of Capital Loss, whose Target Capital Account is greater than or equal to its Partially Adjusted Capital Account for such Accounting Period. If all Target Capital Accounts equal all Partially Adjusted Capital Accounts for any Accounting Period,
the remaining Capital Gain and Capital Loss shall be allocated to the Members pro rata in accordance with their Partially Adjusted Capital Accounts. 
  

	 	4.3.	Special Target Allocations 

 At the direction of
the Majority of the Board Members, (i) if, notwithstanding the application of Section 4.1(a), any Member’s Partially Adjusted Capital Account is greater than or less than its Target Capital Account, then such Member may be
specially allocated items of LLC income, gain, deduction or loss (to the extent available) equal to the difference between its Partially Adjusted Capital Account and its Target Capital Account; and (ii) if all Members have a zero capital
account and the LLC has additional Net Loss to allocate, then the allocation of such Net Loss shall be made in accordance with Treasury Regulations promulgated under Section 704 of the Code; and the first subsequent allocation of Net Profit
shall be made to reverse any allocation of Net Loss under this clause (ii). 
  

 A II - 4 

	 	4.4.	Special Allocation Rules 

 The following allocation
rules shall apply notwithstanding the provisions of Sections 4.1, 4.2 and 4.3 of this Addendum, and the provisions of Sections 4.1, 4.2 and 4.3 of this Addendum shall be applied only after giving effect to
the following rules. 
 (a) Nonrecourse Deductions for a Fiscal Year shall be allocated to the Members in the same manner as Net Loss is
allocated pursuant to Section 4.1 of this Addendum. In accordance with Regulations sections 1.704-2(f), (g) and (j), upon the recapture (or other reversal) of Nonrecourse Deductions, items of income or gain of the LLC shall be
allocated to the Members in proportion to the amount of such Nonrecourse Deductions previously allocated to them pursuant to the preceding sentence (and not previously recaptured pursuant to this sentence). 
 (b) In the event a Member receives with respect to an Accounting Period an adjustment, allocation, or distribution described in subparagraphs (4), (5),
or (6) of Regulations section 1.704-1(b)(2)(ii)(d) that causes or increases an Adjusted Capital Account Deficit in such Member’s Capital Account, such Member shall be specially allocated for such Accounting Period (and, if necessary, in
subsequent Accounting Period) items of income and gain in an amount and manner sufficient to eliminate such Adjusted Capital Account Deficit as promptly as possible. Items to be so allocated shall be determined and the allocations made as provided
in Regulations section 1.704-1(b)(2)(ii)(d). 
 (c) No Net Loss or LLC deductions for any Fiscal Year shall be allocated to any Member to
the extent such allocation would cause or increase an Adjusted Capital Account Deficit in such Member’s Capital Account, while any other Member has a positive Capital Account. 
 (d) In the event that any fees, interest, or other amounts paid to a Member or affiliate of a Member pursuant to the Agreement, or any agreement between
the LLC and the Member or affiliate providing for the payment of such amounts, and deducted by the LLC, whether in reliance on sections 162, 163, 707(a), and/or 707(c) of the Code or otherwise, on its federal income tax return for the Fiscal Year in
or with respect to which such amounts are claimed, are disallowed as deductions to the LLC and are treated as LLC distributions, then: 
 (i)
the Net Income or Net Loss, as the case may be, for the Fiscal Year in or with respect to which such deduction was claimed shall be increased or decreased, as the case may be, by the amount of such deduction that is so disallowed and treated as an
LLC distribution; and 
 (ii) there shall be allocated to the Member who received (or whose affiliate received) such payments, prior to the
allocations pursuant to Sections 4.1 and 4.2 of this Addendum, an amount of gross income of the LLC for the Fiscal Year in or with respect to which such claimed deduction was disallowed equal to the amount of such deduction that is so
disallowed and treated as an LLC distribution. 
 (e) If there is a net decrease in Partnership Minimum Gain for a Fiscal Year, there shall
be allocated to each Member items of income and gain for such Fiscal Year equal to that Member’s share of the net decrease in Partnership Minimum Gain (determined pursuant to Regulations section 1.704-2(g)(2)) in accordance with Regulations
section 1.704-2(f). 
 (f) If there is a net decrease in Partner Nonrecourse Debt Minimum Gain for a Fiscal Year, then there shall be
allocated to each Member with a share of such Partner Nonrecourse Debt Minimum Gain (determined in accordance with Regulations section 1.704-2(i)(5)) as of the beginning of the Fiscal Year items of income and gain for such Fiscal Year (and, if
necessary, for subsequent Fiscal Years) equal to that Member’s share of the net decrease in partner nonrecourse debt minimum gain, subject to the exceptions set forth in Regulations section 1.704-2(i)(4). 
  

 A II - 5 

 (g) To the extent possible, all allocations pursuant to Sections 4.4(a) through
(f) of this Addendum (“Regulatory Allocations”) shall be offset either with other Regulatory Allocations or with special allocations of other items of LLC income, gain, loss or deduction. Such offsetting allocations
shall be made such that, after such offsetting allocations have been made, each Member’s Capital Account balance is as close as possible to the Capital Account balance such Member would have had if the Regulatory Allocations had not been made
and the LLC had allocated all items pursuant to Section 4.1 hereof. Where feasible, the determination of such offsetting allocations shall take into account future Regulatory Allocations that, although not yet made, are likely to offset
other Regulatory Allocations previously made. 
  

	 	4.5.	Tax Allocations 

 (a) For United States federal
income and applicable state tax purposes, all items of taxable income, gain, loss and deduction of the LLC shall be allocated to the Members in the same manner as are Net Income, Net Loss and items of income, gain, loss and deduction pursuant to
Sections 4.1, 4.2, 4.3 and 4.4 of this Addendum, and items of credit shall be allocated to the Members, generally in the same manner as items of Net Income, Net Loss and items of income, gain, loss and deduction, as
provided in Regulations sections 1.704-1(b)(4)(ii) and 1.704-1T(b)(4)(xi), or any successor Regulations in effect. If the Gross Asset Value of any LLC Asset differs from its Adjusted Basis, then items of taxable income, gain, loss and deduction with
respect to such LLC Asset shall be allocated, solely for tax purposes, among the Members to take into account the variation between such Gross Asset Value and Adjusted Basis in accordance with the principles of Regulation section 1.704-3.

 (b) In making the tax allocations provided for in Section 4.5(a) of this Addendum, appropriate adjustments shall be made as
necessary to take into account the effects of any election pursuant to Section 754 of the Code. 
  

	5.	SECTION 754 ELECTION 

 The Tax Matters Member shall
cause the LLC to file an election under Section 754 of the Code to provide for an adjustment to the Adjusted Basis of LLC Assets if requested to by a Member in connection with the disposition of an LLC interest by that Member. 
  

 A II - 6Form of Combined Option and Restricted Stock Agreement

 Exhibit 10(ee) 
 HUMANA INC. 
 STOCK OPTION AND RESTRICTED STOCK AGREEMENT 
 WITH RESTRICTIVE COVENANTS 
 UNDER THE
2003 STOCK INCENTIVE PLAN 
 THIS AGREEMENT (“Agreement”) made as of
                                    
            ,              by and between HUMANA INC., a corporation duly organized and existing under the
laws of the State of Delaware (hereinafter referred to as the “Company”), and
                                        
                    , a Grantee of the Company (hereinafter referred to as “Grantee”). 
 WITNESSETH 
 WHEREAS, the 2003
Stock Incentive Plan (the “Plan”), for certain employee and non-employee Directors of the Company and its subsidiaries was approved by the Company’s Board of Directors (the “Board”) and stockholders; and

 WHEREAS, the Company desires to grant to Grantee i) an option to purchase shares of common stock of the Company and ii) restricted
shares of common stock of the Company in accordance with the Plan. 
 NOW, THEREFORE, in consideration of the premises and mutual
covenants hereinafter set forth, and other good and valuable consideration, the Company and Grantee agree as follows: 
  

	I.	OPTION GRANT 

 A. Grant of Option.
The Company hereby grants to Grantee, as a matter of separate inducement and agreement and not in lieu of salary or other compensation for services, a non-qualified stock option to purchase
                                        
         (                ) shares of the $.16-2/3 par value common stock of the Company (“Common Stock”) at
the purchase price of $             per share (the “Option”) exercisable on the terms and conditions set forth herein. 
 B. Term. The term of the Option shall commence upon the date of grant,
                                     ,
          , and shall expire on
                            
            ,             , (“Expiration Date”). 
 C. Vesting of Option. Except as otherwise set forth herein, this Option shall be exercisable by Grantee or his/her personal
representative on and after the            anniversary of the date hereof in cumulative annual installments of
                 of the number of shares covered hereby. 
 D. Effect of Termination of Employment. 
 1. If the employment of Grantee by the Company is terminated
for Cause, all the rights of Grantee under this Agreement, whether or not exercisable, shall terminate immediately. 
  

 1 

 2. If the employment of Grantee is terminated for any reason other than for Cause,
Retirement, death or Disability, unless otherwise specified herein, all the rights of Grantee under this Agreement then exercisable shall remain exercisable at any time within ninety (90) days after the date of such termination, but in no event
beyond the Expiration Date. 
 3. In the event of Grantee’s Retirement, this Option shall be exercisable at any time
within two (2) years after the date of Retirement, but in no event beyond the Expiration Date, and only to the extent the Option was exercisable at the date of Retirement. 
 4. In the event of death or Disability of Grantee while in the employ of the Company, this Option shall become immediately exercisable and
shall remain exercisable by Grantee or the person or the persons to whom those rights pass by will or by the laws of descent and distribution or, if appropriate, by the legal representative of the Grantee or the estate of the Grantee at any time
within two (2) years after the date of such death or Disability, regardless of the Expiration Date. 
 5. In the event of
a Change in Control, as defined in the Plan, the Option granted in Section I shall become fully vested and immediately exercisable in its entirety. In addition, Optionee will be permitted to surrender for cancellation within sixty (60) days
after a Change in Control, any portion of this Option to the extent not yet exercised and Optionee will be entitled to receive a payment in an amount equal to the excess, if any, of (x) the greater of (1) the Fair Market Value on the date
of surrender of the Shares subject to this Option or portion thereof surrendered, or (2) the Fair Market Value, as Adjusted, of the Shares subject to this Option or portion thereof surrendered, over (y) the aggregate purchase price for
such Shares under this Option or portion thereof surrendered. The form of payment shall be determined by the Committee. In the event Optionee’s employment with the Company is terminated other than for Cause within three (3) years following
a Change in Control, each Option held by the Optionee that was exercisable as of the date of termination of the Optionee’s employment or service shall remain exercisable for a period ending the earlier of the second anniversary of the
termination of the Optionee’s employment or the expiration of the stated term of the Option. 
 E. Exercise of Option.

 1. This Option shall be exercisable only by written notice to the Secretary of the Company at the Company’s
principal executive offices by Grantee or his/her legal representative as herein provided. Such notice shall state the number of shares to be exercised and shall be signed by Grantee or his/her legal representative, as applicable. 
 2. The purchase price shall be paid as follows: 
 a) In full in cash upon the exercise of the Option; or 
 b) By tendering to the Company shares of the Common Stock of Company owned by him/her prior to the date of exercise and having an
aggregate fair market value equal to the cash exercise price applicable to his/her Option; or 
 c) A combination of
I.E.(2)(a) and I.E.(2)(b) above. 
  

 2 

 3. Federal, state and local income taxes and other amounts as may be required by law to
be collected by the Company in connection with the exercise of this Option shall be paid pursuant to the Plan by Grantee prior to the delivery of any Common Stock under this Agreement. 
  

	II.	RESTRICTED STOCK GRANT 

 A. Purchase
and Sale of Common Stock. Subject to the terms and conditions hereinafter set forth, and in accordance with the provisions of the Plan, the Company hereby grants to Grantee, and Grantee hereby accepts from the Company
                                        
                        
(                    ) Shares. The purchase price, if any, for the Shares shall be determined by the Committee, but shall not be less than par
value of $.16 2/3 per share. 
 B. Restrictions on Non-Vested Shares. Until such time as the Shares
purchased hereunder have vested in accordance with Section II.C. (Shares which are not vested are referred to herein as “Restricted Stock”), such Shares may not be sold, transferred, pledged, assigned or otherwise alienated or
hypothecated. In addition, such Restricted Stock shall be subject to forfeiture in accordance with the provisions of Section II.D. Except for the restrictions provided for in this Section II.B., Grantee shall have all of the rights of a stockholder
with respect to Restricted Stock including, but not limited to, the right to vote and receive dividends, or other distributions paid or made with respect to the Restricted Stock (other than dividends paid in Shares, which stock dividends shall be
subject to the same restrictions as apply to the Restricted Stock with respect to which they were received). 
 C.
Vesting of Shares. 
 1. None of the Restricted Stock shall vest until February 23, 2009, the third
anniversary of the date hereof, at which time it shall vest in full. 
 2. Notwithstanding the foregoing, upon (i) the
death or Disability of Grantee, or (ii) a Change in Control, all restrictions shall lapse and the Restricted Stock shall thereafter be immediately transferable and non-forfeitable. 
 3. Upon the Restricted Stock becoming vested, such Shares shall be free of all restrictions provided for in this Section II. 

D. Forfeiture. Upon the termination of Grantee’s employment with the Company prior to the time the Restricted Stock has vested
pursuant to Section II.C., the Restricted Stock shall thereupon be forfeited immediately by Grantee. 
 E. Retention of Stock
Certificate. Notwithstanding that Grantee has been awarded the Restricted Stock on the date hereof, the Company has caused all Restricted Stock to be issued in book entry format or under a Certificate representing the Restricted Stock prior
to vesting. If a Certificate is issued, it shall bear the following legend: 
 “The Shares represented by this certificate have been
issued pursuant to the terms of the Humana Inc. 2003 Stock Incentive Plan and may not be sold, assigned, transferred, discounted, exchanged, pledged or otherwise encumbered or disposed of in any manner except as set forth in the terms of the
agreement embodying the award of such Shares dated February 23, 2006.” 
  

 3 

 Upon the vesting of the Restricted Stock, Grantee shall have the right to receive a Certificate
evidencing such vested stock and shall have the right to have the legend provided for above removed from the Certificate representing such vested Shares. 
 F. Taxes. Federal, state and local income taxes and other amounts as may be required by law to be collected by the Company in connection with the grant or vesting of an Award shall be paid by Grantee
prior to the issuance of a Certificate representing the Shares. 
 G. Execution. If Grantee shall fail to execute this
Agreement and return the executed original to the Secretary of the Company, the Award shall be null and void. 
  

	III.	AGREEMENT NOT TO COMPETE AND AGREEMENT NOT TO SOLICIT  

 A. Agreement Not To Compete. Grantee hereby covenants and agrees that for a period commencing on the date hereof and ending twelve (12) months after the effective date of Grantee’s termination
of employment with the Company, Grantee, directly or indirectly, personally, or as an Grantee, officer, director, partner, member, owner, shareholder, investor or principal of, or consultant or independent contractor with, another entity, shall not:

 Participate in any business which competes with the Company, including, without limitation, health maintenance organizations, insurance
companies or prepaid health plan businesses, in which the Company has been actively engaged during any part of the two (2) year period immediately preceding the Grantee’s employment termination date (“Company Business”), in any
of the markets in which the Company is then currently doing business. 
 B. Agreement Not To Solicit. Grantee hereby covenants
and agrees that for a period commencing on the date hereof and ending twelve (12) months after the effective date of Grantee’s termination of employment with the Company, Grantee, directly or indirectly, personally, or as an Grantee,
officer, director, partner, member, owner, shareholder, investor or principal of, or consultant or independent contractor with, another entity, shall not: 
 1. Interfere with the relationship of the Company and any of its Grantees, agents, representatives, consultants or advisors. 
 2. Divert, or attempt to cause the diversion from the Company, any Company Business, nor interfere with relationships of the Company with
its policyholders, agents, brokers, dealers, distributors, marketers, sources of supply or customers. 
 3. Solicit, recruit
or otherwise induce or influence any Grantee of the Company to accept employment in any business which competes with the Company Business, in any of the markets in which the Company is then currently doing business. 
 C. Effect of Termination of Employment. 
 1. In the event Grantee voluntarily resigns or is discharged by Company with Cause at any time prior to the vesting of the Restricted Stock, the prohibitions on Grantee set forth herein shall remain in full force and
effect. 
  

 4 

 2. In the event Grantee is discharged by Company other than with Cause prior to the
vesting herein of the Restricted Stock, the prohibitions set forth in Section III.A. shall remain in full force and effect only if the Company, solely at its option, pays to Grantee an amount at least equal to Grantee’s then current annual base
salary, whether such amount is paid pursuant to this provision or pursuant to any other severance or separation plan or other plan or agreement between Grantee and Company. 
 3. In the event Grantee is discharged by Company other than with Cause prior to vesting herein of the Restricted Stock, the prohibitions
set forth in Section III.B. above shall remain in full force and effect. 
 4. After the vesting of the Restricted Stock, the
prohibitions on Grantee set forth herein shall remain in full force and effect, except as otherwise provided in Section III.D. 
 D.
Effect Of Change In Control. 
 1. In the event of a Change in Control, the prohibitions on Grantee set forth in
Section III.A. shall remain in full force and effect only if the acquirer or successor to the Company following the Change in Control shall, solely at its option, pay, within thirty (30) days following Grantee’s employment termination date
with the Company or its successor, to the Grantee an amount at least equal to Grantee’s then current annual base salary, plus Grantee’s maximum potential bonus pursuant to any bonus plan in which Grantee participated as of the date of the
Change in Control. Such sums shall be in addition to any other amounts paid or payable to Grantee with respect to other change in control agreements. 
 2. In the event of a Change in Control, the prohibitions on Grantee set forth in Section III.B. shall remain in full force and effect. 
 E. Governing Law. Notwithstanding any other provision herein to the contrary, the provisions of this Section III of the Agreement, shall be governed by, and construed in accordance with,
the laws of the Commonwealth of Kentucky without regard to its conflicts or choice of laws rules or principles that might otherwise refer construction or interpretation of this Section III to the substantive law of another jurisdiction. 

F. Injunctive Relief; Invalidity of Any Provision. Grantee acknowledges that (1) his or her services to the
Company are of a special, unique and extraordinary character, (2) his or her position with the Company will place him or her in a position of confidence and trust with respect to the operations of the Company, (3) he or she will benefit
from continued employment with the Company, (4) the nature and periods of restrictions imposed by the covenants contained in this Sections III hereof are fair, reasonable and necessary to protect the Company, (5) the Company would sustain
immediate and irreparable loss and damage if Grantee were to breach any of such covenants, and (6) the Company’s remedy at law for such a breach will be inadequate. Accordingly, Grantee agrees and consents that the Company, in addition to
the recovery of damages and all other remedies available to it, at law or in equity, shall be entitled to seek both preliminary and permanent injunctions to prevent and/or halt a breach or 

  

 5 

 
threatened breach by Grantee of any covenant contained in Section III hereof. If any provision of this Section III is determined by a court of competent
jurisdiction to be invalid in whole or in part, it shall be deemed to have been amended, whether as to time, area covered or otherwise, as and to the extent required for its validity under applicable law, and as so amended, shall be enforceable. The
parties further agree to execute all documents necessary to evidence such amendment. 
  

	IV.	MISCELLANEOUS PROVISIONS 

 A. Binding
Effect & Adjustment. This Agreement shall be binding and conclusive upon each successor and assign of the Company. Grantee’s obligations hereunder shall not be assignable to any other person or entity. It is the intent of the
parties to this Agreement that the benefits of any appreciation of the underlying Common Stock during the term of the Award shall be preserved in any event, including but not limited to a recapitalization, merger, consolidation, reorganization,
stock dividend, stock split, reverse stock split, spin-off or similar transaction, or other change in corporate structure affecting the Shares, as more fully described in Section 4.7 of the Plan. All obligations imposed upon Grantee and all
rights granted to Grantee and to the Company shall be binding upon Grantee’s heirs and legal representatives. 
 B.
Amendment. This Agreement may only be amended by a writing executed by each of the parties hereto. 
 C.
Governing Law. Except as to matters of federal law and as otherwise provided herein, this Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware without regard to its conflict of laws rules.
This Agreement shall also be governed by, and construed in accordance with, the terms of the Plan. 
 D. No Employment
Agreement. Nothing herein confers on the Grantee any rights with respect to the continuance of employment or other service with the Company, nor will it interfere with any right the Company would otherwise have to terminate or modify
the terms of Grantee’s employment or other service at any time. 
 E. Severability. If any provision of this Agreement is
or becomes or is deemed invalid, illegal or unenforceable in any relevant jurisdiction, or would disqualify this Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable
laws or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan, it shall be stricken and the remainder of the Agreement shall remain in full force and effect.

 F. Defined Terms. Any term used herein and not otherwise defined herein shall have the same meaning as in the Plan. Any
conflict between this Agreement and the Plan will be resolved in favor of the Plan. Any disputes or questions of right or obligation which shall result from or relate to any interpretation of this Agreement shall be determined by the Committee. Any
such determination shall be 

  

 6 

 
binding and conclusive upon Grantee and any person or persons claiming through Grantee as to any rights hereunder. 
 IN WITNESS WHEREOF, Company has caused this Agreement to be executed on its behalf by its duly authorized officer, and Grantee has executed this
Agreement, each as of the day first above written. 
  

									
		 		 	“Company”
			
	ATTEST:	 		 	HUMANA INC.
					
	BY:	 	  	 		 	 BY:
	 	  
		 	 ______________________________
	 		 		 	 Senior Vice President
     and General Counsel

		 	 ___________________________________
	 		 		 
		 	 Secretary
	 		 		 	

  

									
		 		 	“Grantee”
				
		 		 		 	  
		 		 		 		 	

  

 7

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