Document:

Exhibit 10.3

 

FORM OF

EXCHANGE AGREEMENT

BY AND AMONG

SKYTERRA COMMUNICATIONS, INC., 

[COLUMBIA / SPECTRUM BLOCKER CORPORATION]

[COLUMBIA / SPECTRUM BLOCKER CORPORATION EQUITY HOLDER(S)]

MVH HOLDINGS INC.

AND

MOTIENT CORPORATION

 

Dated as of May 6, 2006

 

 

TABLE
OF CONTENTS

 

	
   

  	
  Page

  
	
  ARTICLE I

  	
   

  
	
   

  	
   

  	
   

  
	
  PURCHASE AND
  SALE

  	
   

  
	
   

  	
   

  
	
  Section 1.1

  	
  Sale of MSV Interests and SkyTerra Shares

  	
    2

  
	
  Section 1.2

  	
  Closing

  	
    2

  
	
  Section 1.3

  	
  Deliveries

  	
    2

  
	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
   

  
	
   

  	
   

  	
   

  
	
  REPRESENTATIONS
  AND WARRANTIES OF BLOCKER CORPORATION

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 2.1

  	
  Organization; Related Entities

  	
    3

  
	
  Section 2.2

  	
  Title to MSV Interests

  	
    4

  
	
  Section 2.3

  	
  Authority Relative to this Agreement and
  the Registration Rights Agreement

  	
    4

  
	
  Section 2.4

  	
  Consents and Approvals; No Violations

  	
    4

  
	
  Section 2.5

  	
  Purchase Entirely for Own Account

  	
    5

  
	
  Section 2.6

  	
  Reliance Upon Blocker Corporation’s
  Representations

  	
    5

  
	
  Section 2.7

  	
  Receipt of Information

  	
    5

  
	
  Section 2.8

  	
  Investor Status; etc

  	
    6

  
	
  Section 2.9

  	
  Taxes

  	
    6

  
	
  Section 2.10

  	
  No Other Assets

  	
    6

  
	
  Section 2.11

  	
  Title 11

  	
    6

  
	
  Section 2.12

  	
  Fair Market Value

  	
    6

  
	
  Section 2.13

  	
  Brokers or Finders

  	
    6

  
	
  Section 2.14

  	
  Restricted Securities

  	
    7

  
	
  Section 2.15

  	
  Legends

  	
    7

  

 

i

 

	
  ARTICLE II-A

  	
   

  
	
   

  	
   

  	
   

  
	
  REPRESENTATIONS
  AND WARRANTIES OF MOTIENT and MVH

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE II-B

  	
   

  
	
   

  	
   

  	
   

  
	
  REPRESENTATIONS
  AND WARRANTIES OF COLUMBIA

  	
   

  
	
   

  	
   

  
	
  ARTICLE III

  	
   

  
	
   

  	
   

  	
   

  
	
  REPRESENTATIONS
  AND WARRANTIES OF SKYTERRA

  	
   

  
	
   

  	
   

  
	
  Section 3.1

  	
  Corporate Organization; Related Entities

  	
    9

  
	
  Section 3.2

  	
  Capitalization

  	
    9

  
	
  Section 3.3

  	
  Authority Relative to This Agreement and
  the Registration Rights Agreement

  	
  10

  
	
  Section 3.4

  	
  Consents and Approvals; No Violations

  	
  10

  
	
  Section 3.5

  	
  Reports and Financial Statements

  	
  11

  
	
  Section 3.6

  	
  Absence of Certain Changes or Events

  	
  12

  
	
  Section 3.7

  	
  Litigation

  	
  12

  
	
  Section 3.8

  	
  Compliance with Law

  	
  12

  
	
  Section 3.9

  	
  Absence of Undisclosed Liabilities

  	
  13

  
	
  Section 3.10

  	
  No Default

  	
  13

  
	
  Section 3.11

  	
  Taxes

  	
  13

  
	
  Section 3.12

  	
  Intellectual Property

  	
  14

  
	
  Section 3.13

  	
  Permits

  	
  14

  
	
  Section 3.14

  	
  Brokers

  	
  14

  
	
  Section 3.15

  	
  Contracts

  	
  15

  
	
  Section 3.16

  	
  Insurance

  	
  15

  
	
  Section 3.17

  	
  Ownership of MSV LP Units and MSV GP Shares

  	
  15

  
	
  Section 3.18

  	
  Purchase Entirely for Own Account

  	
  15

  
	
  Section 3.19

  	
  Reliance Upon SkyTerra’s Representations

  	
  15

  
	
  Section 3.20

  	
  Receipt of Information

  	
  15

  
	
  Section 3.21

  	
  Investor Status; etc

  	
  16

  
	
  Section 3.22

  	
  Restricted Securities

  	
  16

  
	
  Section 3.23

  	
  Issuances Exempt

  	
  16

  
	
  Section 3.24

  	
  No Integrated Offering

  	
  16

  
	
  Section 3.25

  	
  Motient Exchange Agreement

  	
  16

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV

  	
   

  
	
   

  	
   

  	
   

  
	
  ADDITIONAL
  AGREEMENTS

  	
   

  
	
   

  	
   

  
	
  Section 4.1

  	
  HSR Act and FCC Approval

  	
  17

  
	
  Section 4.2

  	
  Blue Sky Laws

  	
  17

  

 

ii

 

	
  Section 4.3

  	
  Compliance with MSV Documents

  	
  18

  
	
  Section 4.4

  	
  No Transfers; No Alternative Transactions;
  Standstill

  	
  19

  
	
  Section 4.5

  	
  Commercially Reasonable Efforts

  	
  19

  
	
  Section 4.6

  	
  Public Announcements

  	
  20

  
	
  Section 4.7

  	
  Prohibited Actions; Appropriate Adjustments

  	
  20

  
	
  Section 4.8

  	
  Liquidation of Blocker Corporation

  	
  21

  
	
  Section 4.9

  	
  Tag Along Rights

  	
  21

  
	
  Section 4.10

  	
  Acquired Share Distribution

  	
  21

  
	
   

  	
   

  	
   

  
	
  ARTICLE V

  	
   

  
	
   

  	
   

  	
   

  
	
  CONDITIONS
  TO CLOSING OF SKYTERRA

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 5.1

  	
  Representations and Warranties

  	
  22

  
	
  Section 5.2

  	
  Performance

  	
  22

  
	
  Section 5.3

  	
  Opinion of Blocker Corporation Counsel

  	
  22

  
	
  Section 5.4

  	
  Certificates and Documents

  	
  22

  
	
  Section 5.5

  	
  Compliance Certificate

  	
  23

  
	
  Section 5.6

  	
  FCC Approval

  	
  23

  
	
  Section 5.7

  	
  HSR Approval

  	
  23

  
	
  Section 5.8

  	
  Intentionally Omitted

  	
  23

  
	
  Section 5.9

  	
  FIRPTA Certificate

  	
  23

  
	
  Section 5.10

  	
  Motient Exchange Agreement

  	
  23

  
	
  Section 5.11

  	
  Blocker Exchange Agreements

  	
  23

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI

  	
   

  
	
   

  	
   

  	
   

  
	
  CONDITIONS
  TO CLOSING OF BLOCKER CORPORATION

  	
   

  
	
   

  	
   

  
	
  Section 6.1

  	
  Representations and Warranties

  	
  23

  
	
  Section 6.2

  	
  Performance

  	
  24

  
	
  Section 6.3

  	
  Opinion of Company’s Counsel

  	
  24

  
	
  Section 6.4

  	
  Certificates and Documents

  	
  24

  
	
  Section 6.5

  	
  Compliance Certificate

  	
  24

  
	
  Section 6.6

  	
  Conversion of SkyTerra Preferred Stock

  	
  24

  
	
  Section 6.7

  	
  FCC Approval

  	
  24

  
	
  Section 6.8

  	
  HSR Approval

  	
  24

  
	
  Section 6.9

  	
  Exchange of SkyTerra Non-Voting Common
  Stock

  	
  24

  
	
  Section 6.10

  	
  MSV Investors, LLC

  	
  24

  
	
  Section 6.11

  	
  Motient Exchange Agreement

  	
  24

  
	
  Section 6.12

  	
  Effective Registration Statement

  	
  24

  
	
  Section 6.13

  	
  Blocker Exchange Agreements

  	
  24

  
	
  Section 6.14

  	
  Registration Rights Agreements

  	
  25

  

 

iii

 

	
  ARTICLE VII

  	
   

  
	
   

  	
   

  	
   

  
	
  INDEMNIFICATION

  	
   

  
	
   

  	
   

  
	
  Section 7.1

  	
  Survival of Representations and Warranties

  	
  25

  
	
  Section 7.2

  	
  Obligation to Indemnify

  	
  25

  
	
  Section 7.3

  	
  Indemnification Procedures

  	
  26

  
	
  Section 7.4

  	
  Notices and Payments

  	
  27

  
	
  Section 7.5

  	
  Limited Remedy

  	
  27

  
	
   

  	
   

  	
   

  
	
  ARTICLE VIII

  	
   

  
	
   

  	
   

  	
   

  
	
  MISCELLANEOUS

  	
   

  
	
   

  	
   

  
	
  Section 8.1

  	
  Termination

  	
  28

  
	
  Section 8.2

  	
  Survival

  	
  28

  
	
  Section 8.3

  	
  Expenses

  	
  29

  
	
  Section 8.4

  	
  Counterparts; Effectiveness

  	
  29

  
	
  Section 8.5

  	
  Governing Law

  	
  29

  
	
  Section 8.6

  	
  Notices

  	
  29

  
	
  Section 8.7

  	
  Assignment; Binding Effect

  	
  30

  
	
  Section 8.8

  	
  Severability

  	
  30

  
	
  Section 8.9

  	
  Entire Agreement; Non-Assignability;
  Parties in Interest

  	
  30

  
	
  Section 8.10

  	
  Headings

  	
  31

  
	
  Section 8.11

  	
  Certain Definitions

  	
  31

  
	
  Section 8.12

  	
  Amendments and Waivers

  	
  31

  
	
  Section 8.13

  	
  Specific Performance

  	
  31

  
	
  Section 8.14

  	
  Exclusive Jurisdiction

  	
  32

  
	
  Section 8.15

  	
  Waiver of Jury Trial

  	
  32

  
	
   

  	
   

  	
   

  
	
  Schedule A

  	
  SkyTerra Disclosure Schedule

  	
   

  
	
  Schedule B

  	
  Transaction Exchange Agreements

  	
   

  
	
  Schedule 7.2(b)

  	
  Ownership of Blocker Corporation

  	
   

  
	
  Exhibit A

  	
  Form of Registration Rights Agreement

  	
   

  
	
  Exhibit B

  	
  Form of Amendment No. 3 to the
  Amended and Restated Stockholders’

  Agreement of Mobile Satellite Ventures GP, Inc.

  	
   

  
	
  Exhibit C

  	
  Form of Legal Opinion of Counsel to
  Blocker Corporation

  	
   

  
	
  Exhibit D

  	
  Form of Legal Opinion of Counsel to
  SkyTerra

  	
   

  
				

 

iv

 

EXCHANGE
AGREEMENT

 

THIS
EXCHANGE AGREEMENT (this “Agreement”) is made and entered into as of May 6,
2006 by and among SkyTerra Communications, Inc., a Delaware corporation (“SkyTerra”), [Columbia / Spectrum Blocker Corporation] (“Blocker Corporation”), [Columbia / Spectrum Blocker Corporation Equity
Holder(s)] (“Columbia”), Motient
Corporation, a Delaware corporation (“Motient”),
MVH Holdings Inc., a Delaware corporation and wholly-owned subsidiary of
Motient (“MVH”) and together with Columbia
and Motient, the “Funds”).

 

RECITALS:

 

WHEREAS,
subject to the terms and conditions hereof, at the Closing (as defined below)
SkyTerra intends to purchase substantially all of the assets of Blocker
Corporation, and Blocker Corporation intends to sell substantially all of its
assets to SkyTerra, consisting of                     
limited partnership units (the “MSV LP Units”)
of Mobile Satellite Ventures, L.P. (“MSV”)
and             
shares of common stock (the “MSV GP
Shares”) of Mobile Satellite Ventures GP, Inc. (“MSV GP”) owned by Blocker
Corporation (together, the “MSV
Interests”), in exchange for                  
shares (the “SkyTerra Shares”)
of voting common stock, par value $0.01 per share (“SkyTerra Common Stock”), in each case as
appropriately adjusted for any stock split, combination, reorganization,
recapitalization, reclassification, stock dividend, stock distribution or
similar event declared or effected prior to the Closing; provided, however,
that no adjustment shall be made for the Rights Offering (as defined below);

 

WHEREAS,
immediately after the Closing
(defined below), the Blocker Corporation may distribute the SkyTerra
Shares to the Funds (the “Acquired
Shares Distribution”) in accordance with Section 5.1 of the
Registration Rights Agreement (as defined below); and

 

WHEREAS,
the parties intend that the sale and transfer of the MSV Interests will qualify
as a reorganization within the meaning of Section 368(a) of the
Internal Revenue Code of 1986, as amended (the “Code”) for federal income tax purposes and that
this Agreement shall constitute a plan of reorganization within the meaning of Section 368(a) of
the Code.

 

AGREEMENT:

 

NOW,
THEREFORE, in consideration of the covenants and
representations set forth herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties agree as follows:

 

 

ARTICLE I

PURCHASE AND SALE

 

Section 1.1                                      Sale
of MSV Interests and SkyTerra Shares. 
Subject to the terms and conditions hereof and in reliance upon the
representations, warranties and agreements contained herein, at the Closing (as
defined below), Blocker Corporation will purchase from SkyTerra, and SkyTerra
shall issue and sell to Blocker Corporation, the SkyTerra Shares, and SkyTerra
will purchase from Blocker Corporation, and Blocker Corporation shall sell to
SkyTerra, the MSV Interests.

 

Section 1.2                                      Closing.The
closing (the “Closing”)
of the purchase and sale of the MSV Interests in exchange for the SkyTerra
Shares shall be held at the offices of Skadden, Arps, Slate, Meagher &
Flom LLP, Four Times Square, New York, NY 10036 on the first business day
immediately following the day on which the last to be fulfilled or waived of
the conditions set forth in Articles V and VI (other than those conditions that
by their nature are to be satisfied at the Closing, but subject to fulfillment
or waiver of those conditions), shall be fulfilled or waived in accordance
herewith; or (b) at such other time, date or place as Blocker Corporation
and SkyTerra may agree in writing. The date on which the Closing occurs is
hereinafter referred to as the “Closing Date.”

 

Section 1.3                                      Deliveries.

 

(a)                        Simultaneously with the execution of
this Agreement, Blocker Corporation and SkyTerra (or, in the case of (ii) below,
MSV Investors, LLC) shall execute and deliver (i) the Registration Rights
Agreement in the form attached as Exhibit A hereto (the “Registration Rights Agreement”) and (ii) and
Amendment No. 3 to the Amended and Restated Stockholders’ Agreement of
Mobile Satellite Ventures GP, Inc. in the form attached as Exhibit B
hereto.

 

(b)                       At the Closing, Blocker Corporation
shall deliver to SkyTerra (unless waived by SkyTerra) the following
(collectively, the “Blocker
Corporation Closing Deliveries”):

 

(i)   certificates registered in
Blocker Corporation’s name representing the MSV Interests or an affidavit of
lost certificate with respect to any lost, missing or destroyed certificate in form reasonably
satisfactory to SkyTerra;

 

(ii)   a duly executed stock power
evidencing the transfer of the MSV Interests from Blocker Corporation to SkyTerra and in such form reasonably
satisfactory to SkyTerra as shall be effective to vest in SkyTerra good and
valid title to the MSV Interests, free and clear of any Lien (as defined below)
other than Securities Law Encumbrances (as defined below) or pursuant to the
MSV Documents (as defined below);

 

(iii)   certified resolutions of
the Board of Directors of Blocker Corporation approving
this Agreement, the Registration Rights Agreement and the transactions
contemplated hereby and thereby;

 

2

 

(iv)   a certificate of good
standing for Blocker Corporation from the
Secretary of State of the State of Delaware; and

 

(v)   an affidavit certifying as to
Blocker Corporation’s non-foreign status in accordance with the requirements of
Section 1.1445-2(b) of the Treasury Regulations.

 

(c)                        SkyTerra shall deliver to Blocker
Corporation (unless waived by Blocker
Corporation) the following (collectively, the “SkyTerra Closing Deliveries”):

 

(i)   certificates registered in
Blocker Corporation’s name representing the SkyTerra Shares;

 

(ii)   an effective registration
statement (the “Blocker Corporation Registration Statement”)
registering the resale by Blocker Corporation, the Funds and/or the Funds’ beneficial
owners of the SkyTerra Shares;

 

(iii)   certified resolutions of
SkyTerra’s Board of Directors approving this Agreement, the Registration Rights
Agreement and the transactions contemplated hereby and thereby; and

 

(iv)   a certificate of good standing
for SkyTerra from the Secretary of State of the State of Delaware.

 

ARTICLE II

 

REPRESENTATIONS AND WARRANTIES OF
BLOCKER CORPORATION

 

Blocker
Corporation represents and warrants to SkyTerra, as follows:

 

Section 2.1                                      Organization;
Related Entities. Blocker Corporation is duly organized, validly existing
and in good standing under the laws of the State of Delaware and has the
requisite corporate power and authority to own or lease its properties and to
carry on its businesses as is presently being conducted. Blocker Corporation is
duly qualified to do business as a foreign corporation and is in good standing
in each jurisdiction in which the ownership of its properties or the conduct of
its business requires such qualification, except for failures, if any, to be so
qualified which individually or in the aggregate have not had and could not
reasonably be expected to have a Blocker Corporation Material
Adverse Effect. A “Blocker Corporation Material
Adverse Effect” means a material adverse effect respecting the ability of
Blocker Corporation to consummate the transactions contemplated by this
Agreement or fulfill the conditions to Closing set forth herein, except to the
extent that such adverse effect results from (i) general economic,
regulatory or political conditions or changes therein in the United States or
the other countries in which such party operates; (ii) financial or
securities market fluctuations or conditions; or (iii) changes in, or
events or conditions affecting, the wireless telecommunications industry
generally.

 

3

 

Section 2.2                                      Title
to MSV Interests. As of the date hereof and at all times until and
including at the Closing, Blocker Corporation owns,
of record and beneficially, the MSV Interests free and clear of any and all
option, call, contract, commitment, mortgage, pledge, security interest,
encumbrance, lien, Tax, claim or charge of any kind or right of others of
whatever nature (collectively, a “Lien”)
of any kind, other than pursuant to applicable securities laws (“Securities Law Encumbrances”),
the MSV Documents (as defined below) or the Blocker Corporation Documents (as
defined below); provided, however, that the Blocker Corporation Documents will
be terminated immediately prior to Closing. Upon the Closing, (x) SkyTerra
shall be vested with good and valid title to the MSV Interests, free and clear
of any Liens of any kind (other than Securities Law Encumbrances or the MSV
Documents) and (y) Blocker Corporation shall not own, of record or
beneficially, or have, by conversion, warrant, option or otherwise, any right
to, interest in or agreement to acquire any MSV LP Units or MSV GP Shares. The “MSV Documents” means the
Amended and Restated Limited Partnership Agreement dated as of November 12,
2004, the Amended and Restated Stockholders’ Agreement dated as of November 12,
2004 (the “MSV Stockholders’  Agreement”), the Voting Agreement
dated as of November 12, 2004, the bylaws of MSV GP and the Second Amended
and Restated Parent Transfer/Drag Along Agreement dated as of November 12,
2004, each as may be amended from time to time. The “Blocker
Corporation Documents” means the Amended and Restated Consent
Agreement dated February 9, 2005 by and among the stockholders of MSV GP
named therein and the Stockholders’ Agreement, dated as of February 9,
2005, by and among MVH and Columbia.

 

Section 2.3                                      Authority
Relative to this Agreement and the Registration Rights Agreement. Blocker
Corporation has the requisite corporate power and authority to execute and
deliver this Agreement and the Registration Rights Agreement and to consummate
the transactions contemplated hereby and thereby. The execution and delivery of
this Agreement and the Registration Rights Agreement by Blocker Corporation and
the consummation by Blocker Corporation of the transactions contemplated hereby
and thereby have been duly authorized by Blocker Corporation’s board of
directors and no other corporate or stockholder proceedings on the part of
Blocker Corporation are necessary to authorize this Agreement or the
Registration Rights Agreement or for Blocker Corporation to consummate the
transactions contemplated hereby or thereby. Each of this Agreement and the
Registration Rights Agreement has been duly and validly executed and delivered
by Blocker Corporation and, assuming the due authorization, execution and
delivery thereof by SkyTerra and the other parties thereto, constitutes the
valid and binding obligation of Blocker Corporation, enforceable against it in
accordance with its terms.

 

Section 2.4                                      Consents
and Approvals; No Violations. Except in connection or in order to comply
with the applicable provisions of (a) the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 (the “HSR Act”)
and, if necessary, similar foreign competition or Antitrust Laws, (b) the
filings pursuant to the Registration Rights Agreement and this Agreement under
the Securities Act of 1933, as amended (the “Securities Act”), (c) filings or approvals
required under state securities or “blue sky” laws, (d) the right of first
refusal (the “MSV ROFR”)
or the tag-along provisions (the “MSV
Tag-Along”) of the MSV Stockholders’ Agreement and (e) the
Communications Act of 1934, as amended, and the rules, regulations or policies
of the Federal Communications Commission and any successor thereto (“FCC”) (collectively, the “Communications Laws”), neither the
execution and delivery of this Agreement, nor the

 

4

 

consummation of the transactions contemplated hereby will, conflict
with, or result in any violation of, or default under (with or without notice
or lapse of time, or both), or give rise to a right of termination,
cancellation or acceleration of any obligation or loss of a benefit under (i) any
provision of the organizational documents of Blocker Corporation, (ii) any
material mortgage, indenture, lease, contract or other agreement or instrument,
permit, concession, franchise, license, judgment, order, decree, statute, law,
ordinance, rule or regulation applicable to Blocker Corporation or its
properties or assets, including, but not limited to, the MSV Documents. Except
in connection or in order to comply with the applicable provisions of (a) the
HSR Act and, if necessary, similar foreign competition or Antitrust Laws, (b) the
filings pursuant to the Registration Rights Agreement and this Agreement under
the Securities Act, (c) filings or approvals required under state
securities or “blue sky” laws, and (d) the Communications Laws, no
consent, approval, order or authorization of, or registration, declaration or
filing with, any federal, state, local or foreign court, arbitral tribunal,
administrative agency or commission or other governmental or other regulatory
body, authority or administrative agency or commission (collectively, a “Governmental Entity”), is
required by or with respect to Blocker Corporation in connection with the
execution and delivery of this Agreement by Blocker Corporation or the
consummation by Blocker Corporation of the transactions contemplated hereby,
except for such consents, authorizations, filings, approvals and registrations
which, if not obtained or made, would not have a Blocker Corporation Material
Adverse Effect.

 

Section 2.5                                      Purchase
Entirely for Own Account. The SkyTerra Shares to be issued to Blocker
Corporation will be acquired for (i) distribution by Blocker Corporation
to the Funds in accordance with Section 5.1 of the Registration Rights
Agreement or (ii) investment for Blocker Corporation’s own account, not as
a nominee or agent, and not with a view to the resale or distribution that
would require registration under the Securities Act of any part thereof,
in each case, in violation of applicable securities laws, and Blocker
Corporation has no present intention of selling, granting any participation in,
or otherwise distributing such SkyTerra Shares except in compliance with
applicable securities laws. It is understood that nothing herein shall prevent
Blocker Corporation from effectuating the Acquired Shares Distribution or the
Funds distributing the SkyTerra Shares to their respective beneficial owners,
in each case in compliance with Section 5.1 of the Registration Rights
Agreement and applicable securities laws.

 

Section 2.6                                      Reliance
Upon Blocker Corporation’s Representations. Blocker Corporation understands
that the SkyTerra Shares will not be registered for issuance to Blocker
Corporation under the Securities Act and the sale provided for in this
Agreement and SkyTerra’s issuance of SkyTerra Shares hereunder will be made in
reliance upon an exemption from registration under the Securities Act pursuant
to Section 4(2) thereof, and that, in such case, SkyTerra’s reliance
on such exemption will be based on Blocker Corporation’s representations set
forth herein.

 

Section 2.7                                      Receipt
of Information. Blocker Corporation believes it has received all the
information it considers necessary or appropriate for deciding whether to
acquire SkyTerra Shares. Blocker Corporation further represents that it has had
an opportunity to ask questions and receive answers from SkyTerra regarding the
terms and conditions of the offering of SkyTerra Shares and the business and
financial condition of SkyTerra and to obtain additional information (to the
extent SkyTerra possessed such information or could acquire it without
unreasonable effort or expense) necessary to verify the accuracy of any
information furnished to

 

5

 

it or to which it had access. The foregoing, however, does not limit or
modify the representations or warranties of SkyTerra in this Agreement or the
right of Blocker Corporation to rely upon such representations or warranties. Blocker
Corporation has not received, nor is it relying on, any representations or
warranties from SkyTerra, other than as provided herein; provided that the
foregoing shall not affect any right Blocker Corporation or the Funds may have
on account of fraud.

 

Section 2.8                                      Investor
Status; etc. Blocker Corporation certifies and represents to SkyTerra that
it is an “accredited investor” as defined in Rule 501 of Regulation D
promulgated under the Securities Act and was not organized for the purpose of
acquiring SkyTerra Shares. Blocker Corporation’s financial condition is such
that it is able to bear the risk of holding the SkyTerra Shares for an
indefinite period of time and the risk of loss of its entire investment. Blocker
Corporation has sufficient knowledge and experience in investing in companies
similar to SkyTerra so as to be able to evaluate the risks and merits of its
investment in SkyTerra.

 

Section 2.9                                      Taxes.
There are no Liens arising from or related to Taxes (defined below) on or
pending against Blocker Corporation or any of its properties other than
statutory Liens for Taxes that are not yet due and payable. “Taxes”
means any and all federal, state, local, foreign or other tax of any kind
(together with any and all interest, penalties, additions to tax and additional
amounts imposed with respect thereto) imposed by any Tax Authority, including
taxes on or with respect to income, alternative minimum, accumulated earnings,
personal holding company, capital, transfer, stamp, franchises, windfall or
other profits, gross receipts, property, sales, use, capital stock, payroll,
employment, unemployment, social security, workers’ compensation or net worth,
and taxes in the nature of excise, withholding, ad valorem or value added.

 

Section 2.10                                No
Other Assets. Blocker Corporation currently does not own any assets other
than the MSV Interests and has not owned any assets other than the MSV
Interests since February 18, 2005. The rights to receive shares of common
stock of TerreStar Networks Inc. (the “Rights
Certificates”) previously owned by Blocker Corporation
were distributed out of Blocker Corporation on February 17, 2005, and the distribution
of such Rights Certificates was not in contemplation of the sale and transfer
of the MSV Interests pursuant to this Agreement.

 

Section 2.11                                Title
11. Blocker Corporation is not under the jurisdiction of a court in a Title
11 or similar case within the meaning of Section 368(a)(3)(A) of the
Code.

 

Section 2.12                                Fair
Market Value. The fair market value of the assets of Blocker
Corporation will exceed the sum of its liabilities (including any liabilities
to which its assets are subject).

 

Section 2.13                                Brokers
or Finders. Blocker Corporation has not incurred, nor will it incur,
directly or indirectly, any liability for brokerage or finders’ fees or agents’
commissions or investment bankers’ fees or any similar charges in connection
with this Agreement or any transaction contemplated hereby.

 

6

 

Section 2.14                                Restricted
Securities. Blocker Corporation understands that the SkyTerra Shares may not
be sold, transferred or otherwise disposed of without registration under the
Securities Act or an exemption therefrom, and that in the absence of an
effective registration statement covering the SkyTerra Shares or an available
exemption from registration under the Securities Act, such SkyTerra Shares must
be held indefinitely. In particular, Blocker Corporation is aware that such
SkyTerra Shares may not be sold pursuant to Rule 144 or Rule 145
promulgated under the Securities Act unless all of the conditions of the
applicable rule are met. Among the conditions for use of Rules 144
and 145 is the availability of current information to the public about
SkyTerra.

 

Section 2.15                                Legends.
It is understood that the certificates evidencing the SkyTerra Shares will bear
one or both of the following legends:

 

(a)                        “These securities have not been
registered under the Securities Act of 1933, as amended. They may not be
sold, offered for sale, pledged or hypothecated in the absence of a
registration statement in effect with respect to the securities under such Act
or an opinion of counsel satisfactory to SkyTerra Communications, Inc.
that such registration is not required.”

 

(b)                       Any legend required by the laws of
the State of Delaware or other jurisdiction.

 

ARTICLE II-A

 

REPRESENTATIONS AND WARRANTIES OF
MOTIENT AND MVH

 

Motient and
MVH, jointly and severally, represent and warrant to SkyTerra, as follows:

 

Section 2A.1                            Organization. Motient
and MVH are duly organized, validly existing and in good standing under the
laws of the State of Delaware and have the requisite corporate power and
authority to own or lease their properties and to carry on their respective
businesses as are presently being conducted. Motient and MVH are duly qualified
to do business as foreign corporations and are in good standing in each
jurisdiction in which the ownership of its properties or the conduct of its
business requires such qualification, except for failures, if any, to be so
qualified which individually or in the aggregate have not had and could not
reasonably be expected to have a material adverse effect respecting the ability
of Motient or MVH, as applicable, to consummate the transactions contemplated
by this Agreement or fulfill the conditions to Closing set forth herein, except
to the extent that such adverse effect results from (i) general economic,
regulatory or political conditions or changes therein in the United States or
the other countries in which such party operates; (ii) financial or
securities market fluctuations or conditions; or (iii) changes in, or
events or conditions affecting, the wireless telecommunications industry
generally.

 

Section 2A.2                            Authority Relative to
this Agreement and the Registration Rights Agreement. Motient and MVH each
have the requisite corporate power and authority to execute and deliver this
Agreement and the Registration Rights Agreement and to consummate the
transactions contemplated hereby and thereby. The execution and delivery of
this Agreement

 

7

 

and the Registration Rights Agreement by
Motient and MVH and the consummation by Motient and MVH of the transactions
contemplated hereby and thereby have been duly authorized by Motient and MVH’s
board of directors and no other corporate or stockholder proceedings on the part of
Motient or MVH are necessary to authorize this Agreement or the Registration
Rights Agreement or for Motient or MVH to consummate the transactions
contemplated hereby or thereby. Each of this Agreement and Registration Rights
Agreement has been duly and validly executed and delivered by Motient and MVH
and, assuming the due authorization, execution and delivery thereof by SkyTerra
and the other parties thereto, constitutes the valid and binding obligation of
Motient and MVH, enforceable against it in accordance with its terms.

 

ARTICLE II-B

 

REPRESENTATIONS AND WARRANTIES OF
COLUMBIA

 

Columbia
represents and warrants to SkyTerra, as follows:

 

Section 2B.1                              Organization. Columbia
is duly formed, validly existing and in good standing under the laws of the
State of Delaware and has the requisite limited partnership power and authority
to own or lease its properties and to carry on its businesses as is presently
being conducted. Columbia is duly qualified to do business as foreign entity
and is in good standing in each jurisdiction in which the ownership of its
properties or the conduct of its business requires such qualification, except
for failures, if any, to be so qualified which individually or in the aggregate
have not had and could not reasonably be expected to have a material adverse
effect respecting the ability of Columbia to consummate the transactions
contemplated by this Agreement or fulfill the conditions to Closing set forth
herein, except to the extent that such adverse effect results from (i) general
economic, regulatory or political conditions or changes therein in the United
States or the other countries in which such party operates; (ii) financial
or securities market fluctuations or conditions; or (iii) changes in, or
events or conditions affecting, the wireless telecommunications industry
generally.

 

Section 2B.2                              Authority Relative to
this Agreement and the Registration Rights Agreement. Columbia has the
requisite limited partnership power and authority to execute and deliver this
Agreement and the Registration Rights Agreement and to consummate the
transactions contemplated hereby and thereby. The execution and delivery of
this Agreement and the Registration Rights Agreement by Columbia and the
consummation by Columbia of the transactions contemplated hereby and thereby
have been duly authorized by Columbia and no other limited partnership
proceedings on the part of Columbia are necessary to authorize this
Agreement or the Registration Rights Agreement or for Columbia to consummate
the transactions contemplated hereby or thereby. Each of this Agreement and
Registration Rights Agreement has been duly and validly executed and delivered
by Columbia and, assuming the due authorization, execution and delivery thereof
by SkyTerra and the other parties thereto, constitutes the valid and binding
obligation of Columbia, enforceable against it in accordance with its terms.

 

8

 

ARTICLE III

 

REPRESENTATIONS AND WARRANTIES OF
SKYTERRA

 

Except as
otherwise specifically provided in the Disclosure Schedule of SkyTerra
attached hereto and incorporated herein by reference which clearly identifies
the relevant section of this Agreement (the “SkyTerra Disclosure Schedule”), SkyTerra
represents and warrants to Blocker Corporation, as follows:

 

Section 3.1                                      Corporate
Organization; Related Entities. SkyTerra is a corporation duly organized,
validly existing and in good standing under the laws of the State of Delaware
and has the requisite corporate power and authority to own or lease its
properties and to carry on its business as it is presently being conducted. SkyTerra
is duly qualified to do business as a foreign corporation, and is in good
standing, in each jurisdiction in which the ownership of its properties or the
conduct of its business requires such qualification, except for failures, if
any, to be so qualified which individually or in the aggregate have not had and
could not reasonably be expected to have a SkyTerra Material Adverse Effect. The
copies of the certificate of incorporation and bylaws of SkyTerra heretofore
made available to Blocker Corporation are complete and current copies of such
instruments as presently in effect. A “SkyTerra
Material Adverse Effect” means a material adverse effect
respecting (a) the business, assets and liabilities (taken together) or
financial condition of SkyTerra and its subsidiaries on a consolidated basis or
(b) the ability of SkyTerra to consummate the transactions contemplated by
this Agreement or fulfill the conditions to Closing set forth herein, except to
the extent (in the case of either clause (a) or clause (b) above)
that such adverse effect results from (i) general economic, regulatory or
political conditions or changes therein in the United States or the other
countries in which such party operates; (ii) financial or securities
market fluctuations or conditions; or (iii) changes in, or events or
conditions affecting, the wireless telecommunications industry generally.

 

Section 3.2                                      Capitalization.

 

(a)                        As of the date of this Agreement,
the authorized capital stock of SkyTerra consists of (i) 200,000,000
shares of SkyTerra Common Stock, 8,912,715 of which are issued and outstanding,
(ii) 100,000,000 shares of non-voting common stock, par value $0.01 per
share (“SkyTerra Non-Voting Common
Stock”), 8,990,212 of which are issued and outstanding
and (iii) 10,000,000 shares of preferred stock, par value $0.01 per share
(“SkyTerra Preferred Stock”),
2,000,000 of which are designated as Series A Convertible Preferred Stock
and 1,199,007 of which are issued and outstanding. SkyTerra has no other
designations of SkyTerra Preferred Stock. As of the date of this Agreement, (1) 1,035,957
shares of SkyTerra Common Stock are reserved for issuance pursuant to SkyTerra’s
stock option plans (each a “SkyTerra
Stock Option Plan”) or otherwise, a list of which is set
forth on Schedule 3.2 of the SkyTerra Disclosure Schedule, (2) 3,353,697
shares of SkyTerra Common Stock are reserved for issuance upon the exercise of
outstanding warrants to purchase shares of SkyTerra Common Stock or conversion
of the Series A Preferred Stock, (3) 6,661,150 shares of SkyTerra
Common Stock are reserved for issuance to holders of SkyTerra capital stock and
certain warrants pursuant to non-transferable subscription rights to acquire an
aggregate of 6,661,150 shares of SkyTerra Common Stock, which includes shares
of SkyTerra Non-Voting Common Stock which may be

 

9

 

issued
to certain stockholders (the “Rights
Offering”), (4) 4,125,183 shares of SkyTerra Common
Stock are reserved for issuance in the acquisitions of the equity of MSV
Investors, LLC pursuant to Section 6.10, (5) 44,333,417 shares of
SkyTerra Non-Voting Common Stock and SkyTerra Common Stock are reserved for
issuance under the Exchange Agreement (the “Motient
Exchange Agreement”) dated as of the date hereof by and
between, among other parties, Motient and SkyTerra relating to the exchange of
shares of SkyTerra Common Stock and MSV LP Units and MSV GP Shares held,
directly or indirectly, by Motient and the exchange of the shares of SkyTerra
Non-Voting Common Stock for an equal number of shares of SkyTerra Common Stock,
and (6) 9,992,976 shares of SkyTerra Common Stock and 3,573,214 shares of
SkyTerra Non-Voting Common Stock are reserved for issuance under the
Transaction Exchange Agreements (as defined below), excluding the Motient
Exchange Agreement (collectively, the “SkyTerra Permitted
Issuances”). All the issued and outstanding shares of SkyTerra’s
capital stock have been duly authorized and validly issued and are fully paid,
nonassessable and free of statutory preemptive rights and contractual
stockholder preemptive rights, with no personal liability attaching to the
ownership thereof. Except for the SkyTerra Permitted Issuances and the Rights
Offering, SkyTerra (A) does not have and is not bound by any outstanding
subscriptions, options, voting trusts, convertible securities, warrants, calls,
commitments or agreements of any character or kind calling for the purchase,
issuance or grant of any additional shares of its capital stock or restricting
the transfer of its capital stock and (B) is not a party to any voting
trust or other agreement or understanding with respect to the voting of the
capital stock or other equity securities of SkyTerra.

 

(b)                       The SkyTerra Shares have been duly
and validly authorized, and, when issued upon the terms hereof, will be fully
paid, nonassessable and free of statutory preemptive rights and contractual
stockholder preemptive rights, with no personal liability attaching to the
ownership thereof.

 

Section 3.3                                      Authority
Relative to This Agreement and the Registration Rights Agreement. SkyTerra
has the requisite corporate power and authority to execute and deliver this
Agreement and the Registration Rights Agreement and to consummate the
transactions contemplated hereby and thereby. The execution and delivery of
this Agreement and the Registration Rights Agreement by SkyTerra and the
consummation by SkyTerra of the transactions contemplated hereby and thereby
have been duly authorized by SkyTerra’s Board of Directors, and no other
corporate or stockholder proceedings on the part of SkyTerra are necessary
to authorize this Agreement and the Registration Rights Agreement or for
SkyTerra to consummate the transactions contemplated hereby or thereby. Each of
this Agreement and the Registration Rights Agreement has been duly and validly
executed and delivered by SkyTerra and, assuming the due authorization,
execution and delivery thereof by Blocker Corporation and the Funds, constitutes
the valid and binding obligation of SkyTerra, enforceable against SkyTerra in
accordance with its terms.

 

Section 3.4                                      Consents
and Approvals; No Violations. Except in connection or in order to comply
with the applicable provisions of (a) the HSR Act, and if necessary,
similar foreign competition or Antitrust Laws, (b) the filings pursuant to
the Registration Rights Agreement and this Agreement under the Securities Act, (c) filings
or approvals required under state securities or “blue sky” laws, (d) the
MSV ROFR or the MSV Tag-Along and (e) the Communications Laws, neither the
execution and delivery of this Agreement, nor the

 

10

 

consummation of the transactions contemplated hereby will, conflict
with, or result in any violation of, or default under (with or without notice
or lapse of time, or both), or give rise to a right of termination,
cancellation or acceleration of any obligation or loss of a benefit under (i) any
provision of the organizational documents of SkyTerra, (ii) any material
mortgage, indenture, lease, contract or other agreement or instrument, permit,
concession, franchise, license, judgment, order, decree, statute, law,
ordinance, rule or regulation applicable to SkyTerra or its properties or
assets, including but not limited to the MSV Documents. Except in connection or
in order to comply with the applicable provisions of (a) the HSR Act, and
if necessary, similar foreign competition or Antitrust Laws, (b) the
filings pursuant to the Registration Rights Agreement and this Agreement under
the Securities Act, (c) filings or approvals required under state
securities or “blue sky” laws, and (d) the Communications Laws, no
consent, approval, order or authorization of, or registration, declaration or
filing with, any Governmental Entity is required by or with respect to SkyTerra
in connection with the execution and delivery of this Agreement by SkyTerra or
the consummation by SkyTerra of the transactions contemplated hereby except for
such consents, authorizations, filings, approvals and registrations which, if
not obtained or made, would not have a SkyTerra Material Adverse Effect.

 

Section 3.5                                      Reports
and Financial Statements.

 

(a)                        Except as set forth on Schedule 3.5(a) of
the SkyTerra Disclosure Schedule, SkyTerra has timely filed all reports
required to be filed with the SEC pursuant to the Securities Exchange Act of
1934, as amended (the “Exchange Act”)
or the Securities Act since January 1, 2004 (collectively, the “SkyTerra SEC Reports”), and
has previously made available to Blocker Corporation true and complete copies
of all such SkyTerra SEC Reports. Such SkyTerra SEC Reports, as of their
respective dates (or if amended or superseded by a filing prior to the date of
this Agreement, then on the date of such filing), complied in all material
respects with the applicable requirements of the Securities Act and the
Exchange Act, as the case may be, and none of such SkyTerra SEC Reports,
as of their respective dates (or if amended or superseded by a filing prior to
the date of this Agreement, then on the date of such filing), contained any
untrue statement of a material fact or omitted to state a material fact
required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading. The
consolidated financial statements of SkyTerra included in the SkyTerra SEC
Reports have been prepared in accordance with GAAP consistently applied
throughout the periods indicated (except as otherwise noted therein or, in the
case of unaudited statements, as permitted by Form 10-Q of the SEC) and
fairly present (subject, in the case of unaudited statements, to normal,
recurring year-end adjustments and any other adjustments described therein), in
all material respects, the consolidated financial position of SkyTerra and its
consolidated Subsidiaries as at the dates thereof and the consolidated results
of operations and cash flows of SkyTerra and its consolidated subsidiaries for
the periods then ended. Except as disclosed in SkyTerra SEC Reports there has
been no change in any of the significant accounting (including Tax accounting)
policies or procedures of SkyTerra since December 31, 2005.

 

(b)                       Except as set forth on Schedule 3.5(b) of
the SkyTerra Disclosure Schedule, SkyTerra maintains a system of internal
accounting controls sufficient to provide reasonable assurances that: (i) transactions
are executed in accordance with management’s general or specific authorization;
(ii) transactions are recorded as necessary to permit preparation of
financial statements in conformity with GAAP or any other criteria applicable
to such statements

 

11

 

and
to maintain accountability for assets; (iii) access to assets is permitted
only in accordance with management’s general or specific authorization; and (iv) the
recorded accountability for assets is compared with the existing assets at
reasonable intervals and appropriate action is taken with respect to any
differences.

 

(c)                        Since January 1, 2005, neither
SkyTerra nor, to SkyTerra’s knowledge, any director, officer, employee,
auditor, accountant or representative of SkyTerra has received or otherwise had
or obtained knowledge of any complaint, allegation, assertion or claim, in
writing, regarding the accounting or auditing practices, procedures,
methodologies or methods of SkyTerra or SkyTerra’s internal accounting
controls, including any complaint, allegation, assertion or claim that SkyTerra
has engaged in questionable accounting or auditing practices. No attorney
representing SkyTerra, whether or not employed by SkyTerra, has reported “evidence
of a material violation” (as defined in 17 CFR Part 205) to SkyTerra’s
board of directors or any committee thereof or to any director or officer of
SkyTerra.

 

Section 3.6                                      Absence
of Certain Changes or Events. Except as set forth in SkyTerra SEC Reports
filed prior to the date of this Agreement or as set forth on Schedule 3.6
of the SkyTerra Disclosure Schedule, since December 31, 2005, (i) SkyTerra
has conducted its business and operations in the ordinary course of business
and consistent with past practices and (ii) there has not been any fact,
event, circumstance or change affecting or relating to SkyTerra which has had
or could reasonably be expected to have a SkyTerra Material Adverse Effect. Except
as could not reasonably be expected to represent a SkyTerra Material Adverse
Effect or as set forth on Schedule 3.6 of the SkyTerra Disclosure
Schedule, the transactions contemplated by this Agreement will not constitute a
change of control under or require the consent from or the giving of notice to
a third party pursuant to the terms, conditions or provisions of any SkyTerra
Contract (defined below).

 

Section 3.7                                      Litigation.
Except for litigation disclosed in the notes to the audited financial
statements of SkyTerra as of and for the period ended December 31, 2005,
or in SkyTerra SEC Reports filed subsequent thereto but prior to the date of
this Agreement, as of the date hereof, there is no suit, action, proceeding or
investigation pending or, to the knowledge of SkyTerra, threatened against
SkyTerra or with respect to which SkyTerra could be required to provide
indemnification or to otherwise contribute to liabilities or damages relating
thereto, the outcome of which has had or could reasonably be expected to have a
SkyTerra Material Adverse Effect; nor is there any judgment, decree,
injunction, rule or order of any Governmental Entity outstanding against
SkyTerra having, or which has had or could reasonably be expected to have a
SkyTerra Material Adverse Effect.

 

Section 3.8                                      Compliance
with Law. SkyTerra has not violated any Laws and is in compliance with all
Laws, other than where such violation or noncompliance, individually or in the
aggregate, has not had and could not reasonably be expected to have a SkyTerra
Material Adverse Effect. SkyTerra has not received any notice to the effect
that, or otherwise been advised that or is aware that, SkyTerra is not in such
compliance with any Laws, and SkyTerra has no knowledge that any existing
circumstances are reasonably likely to result in such violations of any Laws.

 

12

 

Section 3.9                                      Absence
of Undisclosed Liabilities. Except for liabilities or obligations which are
accrued or reserved against in SkyTerra’s consolidated financial statements (or
reflected in the notes thereto) as of and for the period ended December 31,
2005 as included in SkyTerra SEC Reports or which were incurred after December 31,
2005 in the ordinary course of business and consistent with past practice,
SkyTerra has no liabilities or obligations (whether absolute, accrued,
contingent or otherwise) of a nature required by GAAP to be reflected in a
balance sheet (or reflected in the notes thereto) or which have had or could
reasonably be expected to have a SkyTerra Material Adverse Effect, other than
amounts that are completely and fully satisfied prior to the Closing.

 

Section 3.10                                No
Default. As of the date of this Agreement, SkyTerra is not in breach or
violation of, or in default under (and no event has occurred which with notice
or lapse of time or both would constitute such a breach, violation or default),
any term, condition or provision of (a) its certificate of incorporation
or bylaws, or (b) (x) any order, writ, decree, statute, rule or
regulation of any Governmental Entity applicable to SkyTerra or any of its
properties or assets or (y) any agreement required to be filed as a “Material
Contract” as an exhibit to SkyTerra’s Annual Report on Form 10-K for
the year ended December 31, 2005 or any periodic Exchange Act report
required to be filed since then (a “SkyTerra
Contract”), except in the case of this clause (b), which
breaches, violations or defaults, individually or in the aggregate, have not
had and could not reasonably be expected to have a SkyTerra Material Adverse
Effect.

 

Section 3.11                                Taxes.
Except as would not reasonably be expected to have a SkyTerra Material Adverse
Effect:

 

(a)                                  SkyTerra has timely filed all Tax
Returns required to be filed by it (taking into account all applicable
extensions) and all such Tax Returns are true, correct and complete in all
respects.

 

(b)                                 SkyTerra has paid all Taxes shown
due on its Tax Returns.

 

(c)                                  There is no pending or, to the
knowledge of SkyTerra, threatened examination, investigation, audit, suit,
action, claim or proceeding relating to Taxes of SkyTerra.

 

(d)                                 SkyTerra has not received written
notice of a determination by any taxing or other Governmental Entity that Taxes
are owed by SkyTerra (such determination being referred to as a “Tax Deficiency”)
and, to the knowledge of SkyTerra, no Tax Deficiency is proposed or threatened.

 

(e)                                  All Tax Deficiencies asserted
against SkyTerra have been paid or finally settled and all amounts asserted in
any Tax Deficiency to be owed have been paid.

 

(f)                                    There are no Liens arising from or
related to Taxes on or pending against SkyTerra or any of its properties other
than statutory Liens for Taxes that are not yet due and payable.

 

13

 

(g)                                 As used in this Agreement, “Tax Return”
means any return, report or similar statement (including any attached
schedules) required to be filed with respect to Taxes and any information
return, claim for refund, amended return, or declaration of estimated Taxes.

 

Section 3.12                                Intellectual
Property.

 

(a)                        SkyTerra owns or holds licenses or
otherwise has such rights to use, sell, license or dispose of all of the
intellectual property rights used in the conduct of the business of SkyTerra as
currently conducted, with such exceptions as individually or in the aggregate
have not had and could not reasonably be expected to have a SkyTerra Material
Adverse Effect.

 

(b)                       With such exceptions as individually
or in the aggregate have not had and could not reasonably be expected to have a
SkyTerra Material Adverse Effect, (i) the operation of SkyTerra’s business
and the manufacture, marketing, use, sale, licensure or disposition of any
Intellectual Property in the manner currently used, sold, licensed or disposed
of by SkyTerra does not and will not infringe on the proprietary rights of any
person, nor has such an infringement been alleged within six years preceding
the date of this Agreement (other than such as have been resolved); (ii) there
is no pending or threatened claim or litigation challenging or questioning the
validity, ownership or right to use, sell, license or dispose of any such
Intellectual Property in the manner in which currently used, sold, licensed or
disposed of by SkyTerra, nor is there a valid basis for any such claim or
litigation, nor has SkyTerra received any notice asserting that the proposed
operation of SkyTerra’s business or the use, sale, license or disposition by
SkyTerra of any of the Intellectual Property of SkyTerra conflicts or will
conflict with the rights of any other party, nor is there a valid basis for any
such assertion in each case; and (iii) none of the Intellectual Property
used in the conduct of the business of SkyTerra as currently conducted is being
infringed by any person and SkyTerra has not asserted any claim of
infringement, misappropriation or misuse within the past six years.

 

Section 3.13                                Permits.
SkyTerra has, and is in compliance with, all Permits required to conduct its
business as now being conducted, except any such SkyTerra Permit the absence of
which, individually or in the aggregate, has not had and could not reasonably
be expected to have a SkyTerra Material Adverse Effect (“SkyTerra Material Permits”). All SkyTerra
Material Permits are valid and in full force and effect. There is not now
pending, or to the knowledge of SkyTerra, threatened, any action by any person
or by or before any Governmental Entity to revoke, cancel, rescind, modify or
refuse to renew any SkyTerra Material Permits and, other than as set forth on Schedule 3.13
of the SkyTerra Disclosure Schedule, there exist no facts or circumstances that
would reasonably be expected to give rise to such action. “SkyTerra Permits” means all licenses, permits,
franchises, approvals, authorizations, certificates, registrations, consents or
orders of, or filings with, any Governmental Entity used or held for use in the
operation of SkyTerra’s business and all other rights and privileges granted by
a Governmental Entity necessary to allow SkyTerra to own and operate its
business without any violation of law.

 

Section 3.14                                Brokers.
No broker, finder or financial advisor is entitled to any brokerage, finder’s
or other fee or commission in connection with the transactions contemplated by
this Agreement based upon arrangements made by or on behalf of SkyTerra.

 

14

 

Section 3.15                                Contracts.
All SkyTerra Contracts that are material to the business or operations of
SkyTerra taken as a whole have been filed as exhibits to SkyTerra’s Annual
Report on 10-K for the year ended December 31, 2005 or any periodic
Exchange Act report required to be filed since then, are valid and binding
obligations of SkyTerra, and, to the knowledge of SkyTerra, the valid and
binding obligation of each other party thereto, except such SkyTerra Contracts
that, if not so valid and binding, individually or in the aggregate, have not
had and could not reasonably be expected to have a SkyTerra Material Adverse
Effect. Neither SkyTerra nor, to the knowledge of SkyTerra, any other party
thereto, is in violation of or in default in respect of, nor has there occurred
an event or condition, that with the passage of time or giving of notice (or
both), would constitute a default under or permit the termination of, any such
SkyTerra Contract except such violations or defaults under or terminations
that, individually or in the aggregate, have not had and could not reasonably
be expected to have a SkyTerra Material Adverse Effect.

 

Section 3.16                                Insurance.
SkyTerra’s insurance policies are in all respects in full force and effect in
accordance with their terms, no notice of cancellation has been received, and
there is no existing default or event that, with the giving of notice or lapse
of time or both, would constitute a default thereunder. SkyTerra has made
available to Blocker Corporation true and correct copies of all insurance
policies maintained by SkyTerra, or evidence thereof, as of the date of this
Agreement.

 

Section 3.17                                Ownership
of MSV LP Units and MSV GP Shares. As of the date hereof, SkyTerra or its
subsidiaries own 7,929,598 MSV LP Units and 792.96 MSV GP Shares and
immediately prior to the Closing SkyTerra or its subsidiaries will own not less
than 7,929,598 MSV LP Units and 792.96 MSV GP Shares (in each case as
appropriately adjusted for any stock split, combination, reorganization,
recapitalization, reclassification, stock dividend, stock distribution or
similar event with respect to the MSV LP Units or MSV GP Shares that is
declared or effected prior to the Closing).

 

Section 3.18                                Purchase
Entirely for Own Account. The MSV Interests to be transferred to SkyTerra
will be acquired for investment for SkyTerra’s own account, not as a nominee or
agent, and not with a view to the resale or distribution of any part thereof,
in each case, in violation of applicable securities laws, and SkyTerra has no
present intention of selling, granting any participation in, or otherwise
distributing the same except in compliance with applicable securities laws.

 

Section 3.19                                Reliance
Upon SkyTerra’s Representations. SkyTerra understands that MSV Interests
will not be registered under the Securities Act and the sale provided for in
this Agreement and Blocker Corporation’s transfer of securities hereunder will
be made in reliance upon an exemption from registration under the Securities
Act, and that, in such case, Blocker Corporation’s reliance on such exemption
will be based on SkyTerra’s representations set forth herein.

 

Section 3.20                                Receipt
of Information. SkyTerra believes it has received all the information it
considers necessary or appropriate for deciding whether to acquire MSV
Interests. SkyTerra further represents that it has had an opportunity to ask
questions and receive answers from Blocker Corporation regarding the terms and
conditions of the MSV Interests and the

 

15

 

business and financial condition of MSV and to obtain additional
information (to the extent Blocker Corporation possessed such information or
could acquire it without unreasonable effort or expense) necessary to verify
the accuracy of any information furnished to it or which it had access. The
foregoing, however, does not limit or modify the representations or warranties
of Blocker Corporation in this Agreement or the right of SkyTerra to rely upon
such representations or warranties. SkyTerra has not received, nor is it
relying on, any representations or warranties from Blocker Corporation, other
than as provided herein.

 

Section 3.21                                Investor
Status; etc. SkyTerra certifies and represents to Blocker Corporation that
it is an “accredited investor” as defined in Rule 501 of Regulation D
promulgated under the Securities Act and was not organized for the purpose of
acquiring MSV Interests. SkyTerra’s financial condition is such that it is able
to bear the risk of holding the MSV Interests for an indefinite period of time
and the risk of loss of its entire investment. SkyTerra has sufficient
knowledge and experience in investing in companies similar to MSV so as to be
able to evaluate the risks and merits of its investment in MSV.

 

Section 3.22                                Restricted
Securities. SkyTerra understands that the MSV Interests may not be
sold, transferred or otherwise disposed of without registration under the
Securities Act or an exemption therefrom, and that in the absence of an
effective registration statement covering the MSV Interests or an available
exemption from registration under the Securities Act, such MSV Interests must be
held indefinitely. In particular, SkyTerra is aware that such MSV Interests may not
be sold pursuant to Rule 144 or Rule 145 promulgated under the
Securities Act unless all of the conditions of the applicable rule are
met. Among the conditions for use of Rules 144 and 145 is the availability
of current information to the public about MSV.

 

Section 3.23                                Issuances
Exempt. Assuming the truth and accuracy of the representations and
warranties of Blocker Corporation and the Funds contained in Article II
hereof, the offer, sale, and issuance of the SkyTerra Shares will be exempt
from the registration requirements of the Securities Act, and will have been
registered or qualified (or are exempt from registration and qualification)
under the registration, permit or qualification requirements of all applicable
state securities laws, except as permitted pursuant to Section 4.2.

 

Section 3.24                                No
Integrated Offering. Neither SkyTerra, nor any of its Affiliates or any
other person acting on SkyTerra’s behalf, has directly or indirectly engaged in
any form of general solicitation or general advertising with respect to
the SkyTerra Shares nor have any of such persons made any offers or sales of
any security or solicited any offers to buy any security under circumstances
that would require registration of the SkyTerra Shares under the Securities Act
or cause this offering of SkyTerra Shares to be integrated with any prior
offering of securities of SkyTerra for purposes of the Securities Act.

 

Section 3.25                                Motient
Exchange Agreement. Pursuant to this Agreement, Blocker Corporation will
receive the same exchange ratio of SkyTerra Shares for its MSV Interests as
Motient will receive in the Motient Exchange Agreement, dated as of May 6,
2006 by and among Motient, Motient Ventures Holding Inc. and SkyTerra.

 

16

 

ARTICLE IV

 

ADDITIONAL AGREEMENTS

 

Section 4.1                                      HSR
Act and FCC Approval. The parties will promptly execute and file, or join
in the execution and filing of, any application, notification (including any
notification or provision of information, if any, that may be required
under the HSR Act, which the parties shall file no later than 15 business days
after the date hereof) or other document that may be necessary in order to
obtain the authorization, approval or consent of any Governmental Entity, which
may be reasonably required in connection with the consummation of the
transactions contemplated by this Agreement. Any fees associated with such
notifications or applications shall be borne by SkyTerra. Each party will use
commercially reasonable efforts to obtain, or assist the other parties in
obtaining, all such authorizations, approvals and consents, including without
limitation using commercially reasonable efforts to supply as promptly as
practicable any additional information and documentary material that may be
requested pursuant to the HSR Act and to request the expiration or termination
of the applicable waiting periods under the HSR Act as soon as practicable. Each
party shall, in connection with its obligation to use commercially reasonable
efforts to obtain, or assist the other parties in obtaining, all such requisite
authorizations, approvals or consents, use commercially reasonable efforts to (i) cooperate
in all reasonable respects with the other parties in connection with any filing
or submission and in connection with any investigation or other inquiry,
including any proceeding initiated by a private party, (ii) promptly inform the
other parties of any communication received by such party from or given by such
party to, the United States Department of Justice (the “DOJ”), the United States Federal Trade Commission
(the “FTC”),
the FCC or any other Governmental Entity or quasi-governmental entity and of
any material communication received or given in connection with any proceeding
by a private party, in each case regarding any of the transactions contemplated
hereby, (iii) permit the other parties, or the other parties’ legal
counsel, to review any communication given by it to, and consult with the other
parties in advance of any meeting or conference with, the DOJ, the FTC, the FCC
or any such other Governmental Entity or quasi-governmental entity or, in
connection with any proceeding by a private party, with any other person and (iv) to
the extent permitted by the FCC or other Governmental Entity, as appropriate,
give the other parties the opportunity to attend and participate in such
meetings and conferences.

 

Section 4.2                                      Blue
Sky Laws. SkyTerra shall exercise its commercially reasonable best efforts
to register or qualify (or obtain an exemption from registration) the SkyTerra
Shares under the blue sky laws of the 50 states of the United States and of the
District of Columbia and such other jurisdictions as Blocker Corporation shall
reasonably request; provided, however, that, in the case of
non-U.S. jurisdictions,  SkyTerra will
not be required to (a) qualify generally to do business in any
jurisdiction where it would not otherwise be required to qualify but for this Section 4.2,
(b) subject itself to taxation in any such jurisdiction or (c) consent
to general service of process in any such jurisdiction). SkyTerra shall pay for
all fees (including filing and application fees), costs and expenses in
connection therewith. However,  the
failure to obtain such “blue sky” clearance in each such jurisdiction shall not
be a condition to closing and shall not prevent a Closing from occurring; provided,
that SkyTerra shall not fail to obtain such “blue sky” clearance in (i) more
than five such jurisdictions, (ii) Texas or (iii) New York; rather,
those SkyTerra Shares which may not be lawfully delivered shall be held in

 

17

 

trust by Blocker Corporation or its nominee for the benefit of the
stockholders of record otherwise entitled thereto until such time as they may be
lawfully delivered. If, after the fifth anniversary of the Closing, such shares
still may not be lawfully delivered, then SkyTerra shall deliver such
shares to the government agency or official responsible for administering the
securities or blue sky laws in such jurisdiction. Blocker Corporation, Columbia,
MVH and Motient shall cooperate with and assist SkyTerra in connection with
obtaining the “blue sky” clearance contemplated by this Section 4.2.

 

Section 4.3                                      Compliance
with MSV Documents. (a)  The parties intend that this Agreement and
the transactions contemplated hereby be consistent with the conditions and
restrictions applicable to the parties and/or their affiliates pursuant to MSV’s
organizational documents and/or pursuant to the agreements between or among MSV’s
limited partners or the stockholders of MSV GP, including, without limitation,
the MSV Documents (collectively, the “MSV Investor
Agreements”). SkyTerra, Blocker Corporation, Columbia,
MVH and Motient shall take all commercially reasonable actions necessary to
comply with, or appropriately amend, the provisions of the MSV Investor
Agreements relating to the sale of the MSV Interests pursuant hereto.

 

(b)    Blocker Corporation and SkyTerra shall
each comply with the MSV ROFR. Notwithstanding the foregoing, any Transfer
Notice (as defined in the MSV GP Stockholders Agreement) delivered by Blocker
Corporation pursuant to the MSV ROFR shall state that the minimum amount of MSV
LP Units SkyTerra is willing to accept pursuant to this Agreement is the number
of MSV LP Units to be exchanged in accordance with this Agreement. If another
party to the of the Amended and Restated Stockholders’ Agreement (the “MSV GP Stockholders Agreement”)
of MSV GP, dated as of November 12, 2004, exercises its right of first
refusal pursuant to Section 8.2(a) thereof, Blocker
Corporation shall not be required to exchange its MSV Interests for the
SkyTerra Shares pursuant to the terms hereof to the extent of such exercise,
and its obligations hereunder shall be terminated with respect to the MSV
Interests purchased by such other party pursuant thereto. Further, if another
party to the MSV GP Stockholders’ Agreement exercises its right of first
refusal pursuant to Section 8.2(a) of the MSV GP Stockholders’
Agreement and SkyTerra then exercises any of its rights under such Section 8.2(a),
any purchase of MSV Interests by SkyTerra shall be made pursuant to this
Agreement regardless of any substitute terms provided pursuant to such Section 8.2(a).

 

(c)                        Blocker Corporation and MVH each
hereby waive any rights of such party under Section 8.2(a) of the MSV
GP Stockholders Agreement in connection with respect to any transactions
contemplated by this Agreement or any other Transaction Exchange Agreement (as
defined on Schedule B hereto).

 

(d)                       If any party to the MSV GP
Stockholders Agreement exercises its right of first refusal pursuant to Section 8.2(a) of
the MSV GP Stockholders’ Agreement in connection with the transactions
contemplated by any other Transaction Exchange Agreement and the result of such
exercise shall be that upon the consummation of the transactions contemplated
by this Agreement and the other Transaction Exchange Agreements (to the extent
such agreements have not been terminated as a result of such exercise),
SkyTerra would not have the right to acquire 17,092,395.81 MSV LP Units, SkyTerra
shall have the right to terminate this Agreement.

 

18

 

Section 4.4                                      No
Transfers; No Alternative Transactions; Standstill.

 

(a)                        Each of Blocker Corporation and the
Funds shall not, and shall cause its subsidiaries and the officers, directors,
employees, representatives (including, without limitation, investment bankers,
attorneys and accountants), agents or Affiliates not to, directly or
indirectly, (i) solicit, initiate, encourage or facilitate any inquiries
or the making of a proposal or offer with respect to, or consummate, an
Alternative Proposal, (ii) participate in any discussions or negotiations
with, deliver any consent with respect to, or provide any non-public
information to, or afford any access to the properties, books or records of
MSV, or otherwise take any other action to assist, facilitate or undertake
(including granting any waiver or release under any standstill or similar
agreement with respect to any securities of MSV), by itself or with any “person”
or “group” (as such terms are used for purposes of Section 13(d)(3) of
the Exchange Act), any Alternative Proposal, or (iii) acquire, of record
or beneficially, or have, by conversion, warrant, option or otherwise, any
right or interest in or any agreement to acquire any MSV LP Units or MSV GP
Shares, other than the MSV Interests owned as of the date hereof. “Alternative
Proposal” shall mean (a) any offer or proposal, or any indication of
interest in making an offer or proposal, made by any “person” or “group” (as
such terms are used for purposes of Section 13(d)(3) of the Exchange
Act) at any time, directly or indirectly, to acquire the MSV Interests, (b) directly
or indirectly sell, transfer, distribute, pledge, dispose of, grant an option
with respect to or encumber the MSV Interests or (c) deposit the MSV
Interests into a voting trust or enter into a voting agreement or arrangement
with respect to the MSV Interests or grant any proxy with respect thereto, in
each case other than the transactions contemplated by this Agreement.

 

(b)                                 Immediately prior to the Closing the
parties shall (i) amend Section 6.2 of the Amended and Restated
Limited Partnership Agreement of Mobile Satellite Ventures LP (the “MSV LP Agreement”),
dated as of November 12, 2004 in order to eliminate restrictions on
transactions with affiliates, (ii) amend the MSV LP Agreement (A) to
provide that the MSV LP Agreement shall not be amended in any manner that would
impair Motient’s ability to exchange its Retained MSV Interests for Additional
SkyTerra Shares at Subsequent Closings in accordance with the terms hereof and (B) whereby
Sub shall waive its rights under Sections 10.1(a), (b) and (g) thereof
(provided; however, that such waiver shall be conditional upon reasonable
cooperation by MSV or its auditors with Sub in answering such questions from
Sub as may be reasonably necessary to facilitate the filing of MSV’s
financial statements by Sub or Motient with the SEC, in the event such filing
is required pursuant to Regulation S-X) and (iii) amend the MSV GP
Stockholders’ Agreement to allow the sale of common stock of MSV GP independently
of limited partnership interests of MSV.

 

(c)                        Blocker Corporation, Columbia, MVH
and Motient and each of its respective officers and directors will not trade in
the securities of SkyTerra prior to the earlier of (i) the Closing or (ii) the
termination of this Agreement.

 

Section 4.5                                      Commercially
Reasonable Efforts. The parties shall each cooperate with each other and
use (and shall cause their respective subsidiaries to use) their respective
commercially reasonable efforts to promptly (i) take or cause to be taken
all necessary actions, and do or cause to be done all things, necessary, proper
or advisable under this Agreement or the MSV Documents and applicable laws to
consummate and make effective all

 

19

 

the transactions contemplated by this Agreement as soon as practicable,
including, without limitation, amending the MSV Investor Agreements, preparing
and filing promptly and fully all documentation to effect all necessary
filings, notices, petitions, statements, registrations, submissions of
information, applications and other documents and approving the change of
control of MSV and (ii) obtain all approvals required to be obtained from
any Governmental Entity or third party necessary, proper or advisable to the
transactions contemplated by this Agreement. Each of Blocker Corporation and
the Funds shall at any time, and from time to time, after the applicable
Closing, execute, acknowledge and deliver all further assignments, transfers,
and any other such instruments of conveyance, upon the request of SkyTerra, to
confirm the sale of the MSV Interests hereunder.

 

Section 4.6                                      Public
Announcements. Except as may be required by applicable law, no party
hereto shall make any public announcements or otherwise communicate with any
news media with respect to this Agreement or any of the transactions
contemplated hereby, without prior consultation with the other parties as to
the timing and contents of any such announcement or communications; provided,
however, that nothing contained herein shall prevent any party from promptly
making all filings with any Governmental Entity or disclosures with the stock
exchange, if any, on which such party’s capital stock is listed, as may, in its
judgment, be required in connection with the execution and delivery of this
Agreement or the consummation of the transactions contemplated hereby.

 

Section 4.7                                      Prohibited
Actions; Appropriate Adjustments

 

(a)                        From the date hereof through the
Closing, except as expressly contemplated by this Agreement, without obtaining
the prior written consent of Blocker Corporation, SkyTerra shall not set any
record date with respect to any dividend or declare or pay any dividend, either
in cash, securities or otherwise, on any shares of its capital stock (other
than required dividends to the holders of SkyTerra Preferred Stock in
accordance with the terms thereof), repurchase any shares of its capital stock,
make any distributions to the holders of its capital stock (other than regular
dividends to the holders of SkyTerra Preferred Stock) or take any other similar
action. Notwithstanding the foregoing, this Section 4.7(a) shall not
prohibit, or apply to, (x) the Rights Offering or (y) the SkyTerra Permitted
Issuances.

 

(b)                       From the date hereof through the
Closing, except for the SkyTerra Permitted Issuances, without obtaining the
prior written consent of Blocker Corporation, SkyTerra shall not issue any
shares of SkyTerra Common Stock or SkyTerra Non-Voting Common Stock or any
security or obligation that is by its terms, directly or indirectly,
convertible into or exchangeable or exercisable for shares of SkyTerra Common
Stock or SkyTerra Non-Voting Common Stock, including, without limitation the
SkyTerra Preferred Stock, and any option, warrant or other subscription or
purchase right with respect to SkyTerra Common Stock, SkyTerra Non-Voting
Common Stock or SkyTerra Preferred Stock, other than issuances where (x) the
aggregate gross proceeds of all such issuances do not exceed $125 million and
(y) such securities are sold for no less than 90% of market value. Notwithstanding
the foregoing, SkyTerra shall be permitted to enter into and consummate
transactions (including the issuance of shares of SkyTerra Common Stock) with
TMI Communications and Company, LP (“TMI”)
and/or MSV’s directors, management and employees to acquire, directly or
indirectly, their MSV LP Units and MSV GP Shares or options to acquire such
securities;

 

20

 

provided
that the terms and conditions of such transactions (including the exchange
ratios) shall be no more favorable to TMI and/or MSV’s directors, management
and employees than those applicable to Blocker Corporation in this Agreement.

 

Section 4.8                                      Liquidation
of Blocker Corporation. Following the Closing, Blocker Corporation will
distribute the SkyTerra Shares it receives pursuant to Section 1.1 in
complete liquidation pursuant to the plan of reorganization for federal income
tax purposes.

 

Section 4.9                                      Tag
Along Rights. Simultaneously with the Closing, SkyTerra shall accept for
purchase all MSV LP Units and MSV GP Shares properly tendered by the Limited
Partners in accordance with Section 8.2(b) of the MSV Stockholders’
Agreement at the Tag Along Price (as defined in the MSV Stockholders’
Agreement) and in compliance with applicable laws and such purchase shall not
reduce the MSV Interests to be sold by Blocker Corporation pursuant to this
Agreement.

 

Section 4.10                                Acquired
Share Distribution. (a)  SkyTerra
will use its commercially reasonable efforts to assist Blocker Corporation with
the Acquired Shares Distribution, including, without limitation, issuing new
stock certificates representing the SkyTerra Shares to be distributed upon
receipt of opinion of counsel in accordance with Section 5.1 of the
Registration Rights Agreement and any other necessary documents to effect the
distribution.

 

(b)                       Following the Acquired Share
Distribution, so long as any SkyTerra Shares are held by Motient or MVH (or any
subsidiary of either):

 

(i)   Motient and/or MVH, as
applicable, will cause all such shares held by them (or any subsidiary of
either) to be voted at any meeting of stockholders and in connection with any
action by written consent, pro rata with all other votes cast at such meeting
(or by written consent) by holders of SkyTerra Common Stock; and

 

(ii)   If Motient and/or MVH, as
applicable, has not sold, distributed or otherwise disposed all such SkyTerra
Shares in accordance with Section 5.1 of the Registration Rights
Agreement, other than to a subsidiary of Motient or an entity of which Motient
is a subsidiary, within 60 days following the Acquired Share Distribution, such
SkyTerra Shares held by Motient or MVH (or a subsidiary of either), as
applicable, shall be automatically exchanged for SkyTerra Non-Voting Common
Stock on a one-for-one basis (in each case as appropriately adjusted for any
stock split, combination, reorganization, recapitalization, reclassification,
stock dividend, stock distribution or similar event declared or effected after
the issuance of such SkyTerra Shares being exchanged). From and after such
exchange, if Motient and/or MVH (or any subsidiary of either), as applicable,
desire to transfer any shares of SkyTerra Non-Voting Common Stock to any person
in accordance with Section 5.1 of the Registration Rights Agreement, other
than a subsidiary of Motient or an entity of which Motient is a subsidiary,
and, following such transfer and, except in the case of sales by Motient or MVH
(or any subsidiary of either), as applicable, in the

 

21

 

open
market pursuant to an effective registration statement or an exemption from
registration, such person by itself or with any “person” or “group” (as such
terms are used for purposes of Section 13(d)(3) of the Exchange Act)
will not beneficially own 10% or more of SkyTerra’s voting power (as determined
pursuant to Rule 13d-3 under the Exchange Act) then, at the request of
Motient and/or MVH, as applicable, SkyTerra will exchange such shares of
SkyTerra Non-Voting Common Stock for SkyTerra Common Stock on a one-for-one
basis (in each case as appropriately adjusted for any stock split, combination,
reorganization, recapitalization, reclassification, stock dividend, stock
distribution or similar event declared or effected after the issuance of such
shares of SkyTerra Non-Voting Common Stock being exchanged). Upon surrender of
certificates representing the shares of SkyTerra Non-Voting Common Stock that
are being exchanged as part of such transfer, SkyTerra will issue to the
transferee certificates representing the appropriate number of shares of
SkyTerra Common Stock.

 

ARTICLE V

 

CONDITIONS
TO CLOSING OF SKYTERRA

 

The obligation
of SkyTerra to purchase the MSV Interests from Blocker Corporation, and to
issue the SkyTerra Shares to Blocker Corporation, at the Closing is subject to
the fulfillment to SkyTerra’s satisfaction (unless waived by SkyTerra) on or
prior to the Closing Date of each of the following conditions:

 

Section 5.1             Representations
and Warranties. Each representation and warranty made by Blocker Corporation
and the Funds in Article II above shall be true and correct in all
material respects on and as of the Closing Date as though made on the Closing
Date, except that any representations and warranties that is given as of a
particular date or period and relates solely to such particular date or period
shall be true and correct in all material respects only as of such date or
period, provided however, that any representations and warranties which by
their terms are qualified by materiality which shall be true and correct in all
respects, with the same force and effect as if such representation and warranty
had been made on and as of the Closing Date.

 

Section 5.2             Performance.
All covenants, agreements and conditions contained in this Agreement to be performed
or complied with by Blocker Corporation and the Funds on or prior to the
Closing Date shall have been performed or complied with by Blocker Corporation
and the Funds in all respects.

 

Section 5.3             Opinion
of Blocker Corporation Counsel. SkyTerra shall have received at the Closing
from Edwards Angell Palmer & Dodge LLP, counsel to Blocker
Corporation, an opinion in substantially the form attached as Exhibit C
hereto dated as of the Closing Date.

 

Section 5.4             Certificates
and Documents. Blocker Corporation shall have delivered at or prior to the
Closing to SkyTerra the Blocker Corporation Closing Deliveries.

 

22

 

Section 5.5             Compliance
Certificate. Each of Blocker Corporation and the Funds shall have delivered
to SkyTerra or its counsel a certificate signed by each stockholder of Blocker
Corporation, dated the Closing Date, certifying to the fulfillment of the
conditions specified in Sections 5.1 and 5.2 above.

 

Section 5.6             FCC
Approval. All necessary FCC approvals shall have been obtained without the
imposition on SkyTerra of any material adverse conditions and such approvals
shall have become Final Orders and shall be in full force and effect, provided
that, SkyTerra may waive the condition that the approvals have become
Final Orders. For the purpose of this Agreement, “Final Order” means an action by
the FCC that has not been reversed, stayed, enjoined, set aside, annulled or
suspended within forty days after being obtained.

 

Section 5.7             HSR
Approval. All applicable waiting periods under the HSR Act shall have
expired or early termination of such waiting periods will have been granted.

 

Section 5.8             Intentionally
Omitted.

 

Section 5.9             FIRPTA
Certificate. Blocker Corporation shall have furnished SkyTerra an affidavit
certifying as to Blocker Corporation’s non-foreign status in accordance with
the requirements of Section 1.1445-2(b) of the Treasury Regulations.

 

Section 5.10           Motient
Exchange Agreement. Motient shall have taken all actions necessary to consummate
the Initial Closing under the Motient Exchange Agreement.

 

Section 5.11           Blocker
Exchange Agreements. Spectrum Space IV Managers, Inc., Columbia Space
Equity Investors IV, Inc., Spectrum Space IV Parallel, Inc.,
Columbia Space (AI), Inc. and Columbia Space Partners, Inc.
(collectively, the “Other Blocker Corporations”)
shall have taken all actions necessary to consummate the closing under each of
the exchange agreements between SkyTerra and each of Other Blocker
Corporations.

 

ARTICLE VI

 

CONDITIONS
TO CLOSING OF BLOCKER CORPORATION

 

The obligation
of Blocker Corporation to purchase the SkyTerra Shares from SkyTerra, and to
transfer the MSV Interests to SkyTerra, at the Closing is subject to the
fulfillment to Blocker Corporation’s satisfaction (unless waived by Blocker
Corporation) on or prior to the Closing Date of each of the following
conditions:

 

Section 6.1             Representations
and Warranties. Each representation and warranty made by SkyTerra in Article III
above shall be true and correct in all material respects on and as of the
Closing Date as though made on the Closing Date, except that any such
representation and warranty that is given as of a particular date or period and
relates solely to such particular date or period shall be true and correct in
all material respects only as of such date or period, provided, however, that
representations and warranties which by their terms are qualified by
materiality which shall be true and correct in all respects, with the same
force and effect as if such representation and warranty had been made on and as
of the Closing Date.

 

23

 

Section 6.2             Performance.
All covenants, agreements and conditions contained in this Agreement to be
performed or complied with by SkyTerra on or prior to the Closing Date shall
have been performed or complied with by SkyTerra in all respects.

 

Section 6.3             Opinion
of Company’s Counsel. Blocker Corporation shall have received at the
Closing from Skadden, Arps, Slate, Meagher & Flom LLP, counsel to
SkyTerra, an opinion in substantially the form attached as Exhibit D
hereto dated as of the Closing Date.

 

Section 6.4             Certificates
and Documents. SkyTerra shall have delivered at or prior to the Closing to
Blocker Corporation the SkyTerra Closing Deliveries.

 

Section 6.5             Compliance
Certificate. SkyTerra shall have delivered to Blocker Corporation or its
counsel a certificate signed by the Chief Executive Officer of SkyTerra, dated
the Closing Date, certifying to the fulfillment of the conditions specified in
Sections 6.1 and 6.2 above.

 

Section 6.6             Conversion
of SkyTerra Preferred Stock. The Rights Offering shall have been completed
and no shares of SkyTerra Preferred Stock shall be outstanding.

 

Section 6.7             FCC
Approval. All necessary FCC approvals shall have been obtained and shall be
in full force and effect.

 

Section 6.8             HSR
Approval. All applicable waiting periods under the HSR Act shall have
expired or early termination of such waiting periods will have been granted.

 

Section 6.9             Exchange
of SkyTerra Non-Voting Common Stock. All shares of SkyTerra Non-Voting
Common Stock outstanding as of the date hereof or to be issued in the Rights
Offering shall have been exchanged (or will be exchanged substantially
contemporaneously with the Closing) for SkyTerra Common Stock on a one-for-one
basis in compliance with that certain Investment Agreement dated as of April 2,
2002, and no shares of SkyTerra Non-Voting Common Stock shall be outstanding,
other than the shares of SkyTerra Non-Voting Common Stock to be issued to
Motient.

 

Section 6.10           MSV
Investors, LLC. SkyTerra shall have entered into binding agreements to
acquire all of the equity of MSV Investors, LLC not currently owned, directly
or indirectly, by SkyTerra, such acquisition to occur no later than one day
after the Closing Date.

 

Section 6.11           Motient
Exchange Agreement. SkyTerra shall have taken all actions necessary to
consummate the Initial Closing under the Motient Exchange Agreement.

 

Section 6.12           Effective
Registration Statement. The Blocker Corporation Registration Statement
shall have become and shall continue to be effective and no stop order with
respect thereto shall be in effect and no proceedings for that purpose shall
have been commenced or threatened by the SEC.

 

Section 6.13           Blocker
Exchange Agreements. SkyTerra shall have taken all actions necessary to
consummate the Closing under each of the exchange agreements between SkyTerra
and each of Other Blocker Corporations.

 

24

 

Section 6.14           Registration
Rights Agreements. The Registration Rights Agreement shall be in full force
and effect and shall be binding on SkyTerra.

ARTICLE VII

 

INDEMNIFICATION

 

Section 7.1             Survival
of Representations and Warranties. The warranties and representations of
Blocker Corporation, Motient and MVH, Columbia and SkyTerra contained in this
Agreement shall survive the execution and delivery of this Agreement and the
Closing, for a period of twelve (12) months following such Closing; provided
that the representations and warranties contained in Section 2.9
(Taxes) shall survive until 60 days following the expiration of the applicable
statute of limitations (a “Survival
Period”), and shall in no way be affected by any
investigation of the subject matter thereof made by any party hereto. The
covenants and agreements shall survive the Closing in accordance with their
terms.

 

Section 7.2             Obligation
to Indemnify.

 

(a)        SkyTerra Obligation to Indemnify. From and after the Closing,
SkyTerra shall indemnify, defend and hold harmless Blocker Corporation and
Funds and their respective officers, directors, stockholders, partners,
employees, subsidiaries, agents and affiliates (each, a “Blocker Corporation Indemnitee”), from and
against all losses, claims, damages, liabilities, obligations, fines,
penalties, judgments, settlements, costs, expenses and disbursements (including
attorneys’, accountants’ and investigatory fees and expenses) (collectively, “Losses”) to the extent
resulting from any (i) breach or inaccuracy of any representation or
warranty of SkyTerra contained in Article III of this Agreement for which
a claim is initiated prior to the expiration of the applicable Survival Period
and (ii) non-fulfillment or breach of any covenant or agreement of
SkyTerra contained in this Agreement.

 

(b)        The Blocker Corporation’s Obligation to Indemnify. From and after the Closing Date, Columbia
and Motient shall indemnify, defend and hold harmless SkyTerra and its
officers, directors, stockholders, partners, employees, agents and affiliates
(each, a “SkyTerra Indemnitee”)
from and against any and all Losses to the extent resulting from any (i) breach
or inaccuracy of any representation or warranty of Blocker Corporation
contained in Article II of this Agreement for which a claim is initiated
prior to the expiration of the applicable Survival Period, (ii) non-fulfillment
or breach of any covenant or agreement of Blocker Corporation contained in this
Agreement and (iii) without duplication of clauses (i) and (ii) of
this Section 7.2(b), liability (including, without limitation, any Tax
liability) of Blocker Corporation; provided, however, Columbia’s and
Motient’s respective obligations to indemnify the SkyTerra Indemnitees for any
Losses shall not exceed its Respective Portion of such Losses. “Respective Portion” shall mean, as
to Columbia and Motient, such stockholders percentage ownership of Blocker
Corporation, as set forth on Schedule 7.2(b) hereto.

 

(c)        Motient’s and MVH’s Obligation to Indemnify. From and after the Closing Date,
Motient and MVH, jointly and severally, shall indemnify, defend and hold
harmless the SkyTerra Indemnitees from and against any and all Losses to the
extent resulting from any (i) breach or inaccuracy of any representation
or warranty of Motient or MVH contained in Article

 

25

 

II-A
of this Agreement or (ii) non-fulfillment or breach of any covenant or
agreement of Motient or MVH contained in this Agreement, in each case for which
a claim is initiated prior to the expiration of the applicable Survival Period.

 

(d)        Columbia’s Obligation to Indemnify. From and after the Closing Date, Columbia
shall indemnify, defend and hold harmless the SkyTerra Indemnitees from and
against any and all Losses to the extent resulting from any (i) breach or
inaccuracy of any representation or warranty of Columbia contained in Article II-B
of this Agreement or (ii) non-fulfillment or breach of any covenant or
agreement of Columbia contained in this Agreement, in each case for which a claim
is initiated prior to the expiration of the applicable Survival Period.

 

(e)        Indemnification Basket Amount. Notwithstanding the foregoing, an
Indemnifying Party (as defined below) shall not be required to indemnify an
Indemnified Party (as defined below) pursuant to Section 7.2(a), Section 7.2(b),
Section 7.2(c) or Section 7.2(d) as
applicable, unless and until the amount of all Losses incurred by such
Indemnified Party exceeds $1,000,000 in the aggregate (the “Basket Amount”), in which case the Indemnifying
Party shall be required to indemnify the Indemnified Party for any and all such
Losses in excess of the Basket Amount; provided, however, that the limitation
set forth in this Section 7.2(e) shall not apply to Losses
resulting from a breach of the representations and warranties set forth in Sections
2.2 or 3.2(b) or to Losses indemnified by Section 7.2(b)(iii).

 

Section 7.3             Indemnification
Procedures.

 

(a)        The person seeking indemnification hereunder (each, an
“Indemnified Party”)
shall give the party or parties from whom indemnification is sought or to be
sought (each, an “Indemnifying Party”)
prompt written notice of any Loss as to which they have received written
notification. If an indemnification claim involves a claim by a third party (a “Third Party Claim”), the
Indemnified Party shall promptly notify the Indemnifying Party thereof in
writing; provided, however, that no delay on the part of the
Indemnified Party in notifying the Indemnifying Party shall relieve the
Indemnifying Party from any obligation hereunder unless (and then solely to the
extent) the Indemnifying Party is actually and materially prejudiced thereby. An
Indemnifying Party shall have ten business days from the delivery of such
notice (the “Notice Response Period”)
to notify the Indemnified Party whether or not it disputes its liability to the
Indemnified Party hereunder with respect to such claim or demand. If an
Indemnifying Party disputes its liability to an Indemnified Party hereunder
with respect to such claim or demand or the amount thereof, such dispute shall
be resolved by a civil action in a court of appropriate jurisdiction (including
as part of any proceeding with respect to the claim that gave rise to the
indemnification claim to which such dispute relates) which may be
commenced by either party. During the Notice Response Period, no such claim or
demand may be settled by the Indemnified Party.

 

(b)        With respect to each Indemnification Matter (as
defined below), the Indemnified Parties will have the sole right and authority
to control the defense against any Third Party Claim with one counsel of their
collective choice. This right shall include the right to settle or resolve the
Third Party Claim by entering into an agreement memorializing the terms of
settlement or resolution (a “Settlement
Agreement”), provided however, that the Indemnified Party
provides the Indemnifying Party with notice (in accordance with Section 7.4
hereof) of its

 

26

 

intent
to enter into a Settlement Agreement, which notice shall include the proposed
terms of the Settlement Agreement. The Indemnifying Party shall, within ten
business days of receipt of such notice, have the right to reject the proposed
Settlement Agreement, but shall do so only if it reasonably determines that the
Settlement Agreement does not represent a bona fide and reasonable resolution
of the underlying Third Party Claim. The Indemnifying Party (and any
Indemnified Party who is not otherwise satisfied with the one counsel chosen by
the Indemnified Parties collectively) may retain separate co-counsel at
their sole cost and expense and participate in the defense of the Third Party
Claim; provided, however, that in no event may any Indemnifying Party
consent to the entry of any judgment, enter into any settlement with respect to
the Third Party Claim or agree with any Person other than the Indemnified
Party, to take any other action with respect to the Third Party Claim without
the prior written consent of the Indemnified Party. If it is determined
pursuant to an order or Settlement Agreement that an Indemnifying Party is
responsible for all or a portion of any amounts for which the Indemnified Party
is liable as a result of such Third Party Claim hereunder, the Indemnifying
Party shall, pursuant to Section 7.4(b), render payment to the
Indemnified Party for all Losses resulting from such claim, subject to the
provisions of Section 7.5.

 

Section 7.4             Notices
and Payments.

 

With respect
to each separate matter which is subject to indemnification under this Article VII
(each, an “Indemnification Matter”):

 

(a)        Notice. Upon the Indemnified Party’s receipt of written
documents pertaining to an Indemnification Matter, or, if the Indemnification
Matter does not involve a third party demand or claim, within a reasonable time
after the Indemnified Party first has actual knowledge of such Indemnification
Matter, the Indemnified Party shall give written notice to the Indemnifying
Party of the nature of such Indemnification Matter, and, if susceptible to
estimation at such time, the Indemnified Party’s best estimate of the amount
demanded or claimed in connection therewith as provided in Section 7.3;
provided, however, that no delay on the part of the Indemnified Party in
notifying the Indemnifying Party shall relieve the Indemnifying Party from any
obligation hereunder unless (and then solely to the extent) the Indemnifying
Party is actually and materially prejudiced thereby.

 

(b)        Payment. Upon determination of the amount of the Loss
(whether due to the Indemnifying Party’s failure to dispute the indemnification
matter, by agreement among the parties, or after a settlement agreement is
executed or a final order is rendered with respect to the indemnification
matter), the Indemnifying Party shall promptly (and in any event, not later
than ten days after such determination) pay to the Indemnified Party all
amounts owing by the Indemnifying Party under this Article VII with
respect to such indemnification matter, subject to the limitations set forth in
Section 7.5.

 

Section 7.5             Limited
Remedy.

 

(a)        The Funds’ Indemnitee Indemnification Limit. Except in the case of fraud or
where specific performance is sought, the maximum amount all Blocker
Corporation Indemnitees may recover in the aggregate pursuant to the
indemnity set forth in Section 7.2(a) hereof with respect to a
Closing shall be limited to the value of the SkyTerra Shares based on the

 

27

 

average
of the high and low sales price for the five day trading period immediately
prior to, and including, the Closing Date.

 

(b)        SkyTerra Indemnitee Indemnification Limit. Except in the case of fraud or
where specific performance is sought, the maximum amount all SkyTerra
Indemnitees may recover in the aggregate pursuant to the indemnity set
forth in Section 7.2(b), 7(c) and 7(d) hereof with
respect to a Closing shall be limited to the value of the SkyTerra Shares based
on the average of the high and low sales price for the five day trading period
immediately prior to, and including, the Closing Date; provided,
however, that in no event shall all SkyTerra Indemnities receive from Motient
or Columbia, respectively, an amount in excess of Motient’s or Columbia’s
Respective Portion of such amount, as applicable.

 

ARTICLE VIII

 

MISCELLANEOUS

 

Section 8.1             Termination.
This Agreement may be terminated prior to the Closing as follows:

 

(i)   at any time on or prior to
the Closing Date, by mutual written consent of Columbia, Motient and SkyTerra;

 

(ii)   at the election of Columbia
and Motient or SkyTerra by written notice to the other parties hereto after
5:00 p.m., New York time, on December 31, 2006, if the Closing shall
not have occurred, unless such date is extended by the mutual written consent
of Columbia, Motient and SkyTerra; provided, however, that the right to
terminate this Agreement pursuant to this clause (ii) shall not be
available to a party whose failure or whose affiliate’s failure to perform or
observe in any material respect any of its obligations under this Agreement in
any manner shall have been the principal cause of or resulted in the failure of
the Closing to occur on or before such date;

 

(iii)   at the election of Columbia
and Motient if there has been a material breach of any representation,
warranty, covenant or agreement on the part of SkyTerra contained in this
Agreement, which breach has not been cured within fifteen (15) days of notice
to SkyTerra of such breach;

 

(iv)   at the election of SkyTerra,
if there has been a material breach of any representation, warranty, covenant
or agreement on the part of Blocker Corporation or the Funds contained in
this Agreement, which breach has not been cured within fifteen (15) days notice
to Blocker Corporation or Funds, as applicable, of such breach; or

 

(v)   at any time on or prior to
the Closing Date by either Columbia and Motient or SkyTerra, if the Motient
Exchange Agreement is terminated.

 

Section 8.2             Survival.
If this Agreement is terminated and the transactions contemplated hereby are
not consummated as described above, this Agreement shall become

 

28

 

void and of no further force and effect, except for the provisions of
this Section 8.2 and Sections 8.3 through 8.15 (inclusive); provided,
however, that (a) none of the parties hereto shall have any
liability in respect of a termination of this Agreement pursuant to Section 8.1(i),
or Section 8.1(ii), (b) nothing shall relieve any of the parties from
liability for actual damages resulting from a breach of any representation,
warranty, covenant or agreement which gave rise to a termination of this
Agreement pursuant to Section 8.1(iii) or 8.1(iv).

 

Section 8.3             Expenses.
Whether or not the transactions contemplated hereby are consummated, all costs
and expenses incurred in connection with this Agreement and the transactions
contemplated hereby and thereby shall be paid by the party incurring such
expenses.

 

Section 8.4             Counterparts;
Effectiveness. This Agreement may be executed in two or more
consecutive counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument,
and shall become effective when one or more counterparts have been signed by
each of the parties and delivered (by facsimile or otherwise) to the other
parties.

 

Section 8.5             Governing
Law. This Agreement shall be governed by and construed in accordance with
the laws of the State of New York without regard to the principles of conflicts
of laws thereof.

 

Section 8.6             Notices.
Any notices, reports or other correspondence (hereinafter collectively referred
to as “correspondence”) required or permitted to be given hereunder shall be
given in writing and shall be deemed given three business days after the date
sent by certified or registered mail (return receipt requested), one business
day after the date sent by overnight courier or on the date given by facsimile
(with confirmation of receipt) or delivered by hand, to the party to whom such
correspondence is required or permitted to be given hereunder.

 

To Blocker
Corporation:

 

To Motient and Columbia at the addresses
provided below

 

To Columbia:

 

Columbia Capital Equity Partners III (AI),
L.P.

201 North Union Street

Alexandria, Virginia 22314

Facsimile: (703) 519-3904

Attn:       James B. Fleming

 

with a copy (which shall not constitute
notice) to:

 

Edwards Angell Palmer & Dodge LLP

111 Huntington Avenue

Boston, Massachusetts 02199

Facsimile: (617) 227-4420

Attn:  Stephen Meredith

 

29

 

To Motient or
MVH:

 

Motient Corporation

300 Knightsbridge Parkway

Lincolnshire Parkway

Lincolnshire, IL 60069

Facsimile: (847) 478-4810

Attention:  General Counsel

 

with a copy (which shall not constitute
notice) to:

 

Andrews Kurth LLP

600 Travis Street, Suite 4200

Houston, Texas 77002

Facsimile: (713) 220-4285

Attention:  Mark Young

 

To SkyTerra:

 

SkyTerra Communications, Inc.

19 West 44th Street, Suite 507

New York, New York 10036

Facsimile:

Attn:       Robert C. Lewis

 

with a copy
(which shall not constitute notice) to:

 

Skadden, Arps, Slate, Meagher & Flom
LLP

Four Times Square

New York, New York 10036

Facsimile: (917) 777-2918

Attn:       Gregory A. Fernicola, Esq.

 

Section 8.7             Assignment;
Binding Effect. Neither this Agreement nor any of the rights, interests or
obligations hereunder shall be assigned by any of the parties hereto without
the prior written consent of the other parties. Subject to the preceding
sentence, this Agreement shall be binding upon and shall inure to the benefit
of the parties hereto and their respective successors and assigns.

Section 8.8             Severability.
Any term or provision of this Agreement which is invalid or unenforceable in
any jurisdiction shall, as to that jurisdiction, be ineffective to the extent
of such invalidity or unenforceability without rendering invalid or
unenforceable the remaining terms and provisions of this Agreement in any other
jurisdiction. If any provision of this Agreement is so broad as to be
unenforceable, such provision shall be interpreted to be only so broad as is
enforceable.

 

Section 8.9             Entire
Agreement; Non-Assignability; Parties in Interest. This Agreement and the
documents and instruments and other agreements specifically referred to

 

30

 

herein or delivered pursuant hereto, including the Exhibits and the
SkyTerra Disclosure Schedule: (a) constitute the entire agreement among
the parties with respect to the subject matter hereof and supersede all prior
agreements and understandings, both written and oral, among the parties with
respect to the subject matter hereof, including, without limitation, the Letter
of Intent dated September 22, 2005, between Motient, SkyTerra, TMI and the
Other MSV Shareholders (as defined in such Letter of Intent); (b) are not
intended to confer upon any other person (except the Blocker Corporation
Indemnitees and the SkyTerra Indemnitees) any rights or remedies hereunder and (c) shall
not be assigned by operation of law or otherwise except as otherwise
specifically provided. Without limiting the foregoing, no party shall be deemed
to have made any representation or warranty other than as expressly made
herein.

 

Section 8.10           Headings.
Headings of the Articles and Sections of this Agreement are for convenience of
the parties only, and shall be given no substantive or interpretive effect
whatsoever.

 

Section 8.11           Certain
Definitions. References in this Agreement to “subsidiaries” of SkyTerra or
Blocker Corporation shall mean any corporation or other form of legal
entity of which more than 50% of the outstanding voting securities are on the
date hereof directly or indirectly owned by SkyTerra, Blocker Corporation or
the Funds, as the case may be. References in this Agreement (except as
specifically otherwise defined) to “affiliates” shall mean, as to any person,
any other person which, directly or indirectly, controls, or is controlled by,
or is under common control with, such person. As used in this definition, “control”
(including, with its correlative meanings, “controlled by” and “under common
control with”) shall mean the possession, directly or indirectly, of the power
to direct or cause the direction of management or policies of a person, whether
through the ownership of securities or partnership of other ownership
interests, by contract or otherwise. References in the Agreement to “person”
shall mean an individual, a corporation, a partnership, an association, a trust
or any other entity or organization, including, without limitation, a
Governmental Entity. “Antitrust
Laws” means the HSR Act, the Sherman Act, as amended, the
Clayton Act, as amended, the Federal Trade Commission Act, as amended, and any
other United States federal or state or foreign statutes, rules, regulations,
orders, decrees, administrative or judicial doctrines or other laws that are
designed to prohibit, restrict or regulate actions having the purpose or effect
of monopolization or restraint of trade.

 

Section 8.12           Amendments
and Waivers. Any term of this Agreement may be amended and the
observance of any term of this Agreement may be waived (either generally
or in a particular instance and either retroactively or prospectively), only
with the written consent of each of the parties hereto.

 

Section 8.13           Specific
Performance. The parties to this Agreement agree that irreparable damage
would occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached. Accordingly,
the parties to this Agreement hereby agree that each party hereto shall be entitled
to an injunction or injunctions to prevent breaches of this Agreement and to
enforce specifically the terms and provisions of this Agreement in any court of
the United States or any state having jurisdiction, in addition to any other
remedy to which such party may be entitled at law or in equity.

 

31

 

Section 8.14           Exclusive
Jurisdiction. Any suit, action or proceeding seeking to enforce any
provision of, or based on any matter arising out of or in connection with, this
Agreement or the transactions contemplated hereby may only be brought in
any federal or state court located in the County and State of New York, and
each of the parties hereby consents to the exclusive jurisdiction of such
courts (and of the appropriate appellate courts therefrom) in any such suit,
action or proceeding and irrevocably waives, to the fullest extent permitted by
law, any objection which it may now or hereafter have to the laying of the
exclusive venue of any such suit, action or proceeding in any such court or
that any such suit, action or proceeding which is brought in any such court has
been brought in an inconvenient forum. Process in any such suit, action or
proceeding may be served on any party anywhere in the world, whether
within or without the jurisdiction of any such court. Without limiting the
foregoing, each party agrees that service of process on such party as provided
in Section 8.6 shall be deemed effective service of process on such party.

 

Section 8.15           Waiver
of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND
ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO
THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

[Signature
Pages Follow]

 

32

 

IN WITNESS
WHEREOF, the parties hereto have caused this Exchange Agreement to be duly
executed and delivered as of the date first above written.

 

	
   

  	
  MVH
  HOLDINGS INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MOTIENT
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
						

 

 

 

 

	
   

  	
  [COLUMBIA/SPECTRUM
  BLOCKER CORPORATION]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [COLUMBIA/SPECTRUM
  BLOCKER CORPORATION EQUITY HOLDER(S)]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
								

 

 

	
   

  	
  SKYTERRA
  COMMUNICATIONS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
					

 

 

Exhibit A

Form of
Registration Rights Agreement

 

A-1

 

Exhibit B

 

Form of
Amendment No. 3 to the Amended and Restated Stockholders’ Agreement of

Mobile Satellite Ventures GP, Inc.

 

B-1

 

Exhibit C

 

Form of Opinion of Edwards Angell Palmer & Dodge LLP

 

C-1

 

Matters to be Addressed by Edwards Angell Palmer
& Dodge, LLP

Legal Opinions for Columbia / Spectrum Exchange
Agreements

 

1.             Each
Blocker Corporation is validly existing as a corporation and in good standing
under the DGCL.

 

2.             Each
Blocker Corporation has the corporate power and authority to execute and
deliver, and incur and perform all of its obligations under the applicable
Exchange Agreement and the Registration Rights Agreement and to consummate the
transactions contemplated thereby.

 

3.             The
applicable Exchange Agreement and the Registration Rights Agreement have been
duly authorized, executed and delivered by each Blocker Corporation.

 

4.             Neither
the execution and delivery of the applicable Exchange Agreement, or the
Registration Rights Agreement by any Blocker Corporation, nor the performance
by each Blocker Corporation of its obligations thereunder in accordance with
the terms thereof, will (A) violate the certificate of incorporation of such
Blocker Corporation, (B) violate the bylaws of such Blocker Corporation, or (C)
violate the DGCL or any Applicable Laws of the State of New York.

 

5.             Each
applicable Exchange Agreement and the Registration Rights Agreement constitute
valid and binding obligations of such applicable Blocker Corporation,
enforceable against such Blocker Corporation in accordance with its terms.

 

6.             Each
applicable Exchange Agreement and the Registration Rights Agreement constitute
valid and binding obligations of such applicable Fund, enforceable against such
Fund in accordance with its terms.

 

7.             No
Governmental Approval which is required to be obtained by Blocker Corporation,
which has not been obtained or taken and is not in full force and effect, other
than any Governmental Approval that must be obtained after the Closing, is
required to authorize, or is required in connection with the execution or delivery
by each Blocker Corporation of, the applicable Exchange Agreement, and the
Registration Rights Agreement or the consummation of the transactions
contemplated thereby or the performance by such Blocker Corporation of its
obligations under the applicable Exchange Agreement and the Registration Rights
Agreement in accordance with the terms thereof.

 

8.             Assuming
that you have no notice of any adverse claims pursuant to Section 8-105 of the
New York UCC (as defined below) with respect to the securities represented by
the Share Certificates then to the extent the New York UCC governs
determination of adverse claims to such securities, upon delivery to you of
such certificates indorsed thereon in blank by an effective indorsement, and if
such indorsement is on separate document, delivery to you of such document, you
will acquire such securities as a “protected purchaser” under Section 8-303 of
the Uniform Commercial Code as in effect on the date hereof in the State of New
York (the “New York UCC”).

 

1

 

Exhibit D

 

Form of Opinion of Skadden, Arps, Slate, Meagher & Flom LLP

 

D-1

 

Matters to be Addressed by Skadden, Arps, Slate,
Meagher & Flom LLP

Legal Opinions for Columbia / Spectrum Exchange Agreements

 

1.             SkyTerra
is validly existing in good standing under the laws of the State of Delaware.

 

2.             SkyTerra
has the corporate power and corporate authority to execute and deliver and to
perform all its obligations under each of the Transaction Documents and to
consummate the transactions contemplated thereby.

 

3.             Each
of the Transaction Documents has been duly authorized, executed and delivered
by SkyTerra and is a valid and binding agreement of SkyTerra, enforceable
against SkyTerra in accordance with its terms.

 

4.             The
execution and delivery by SkyTerra of each of the Transaction Documents and the
consummation by SkyTerra of the transactions contemplated thereby will not (i)
conflict with the Certificate of Incorporation or Bylaws, (ii) constitute a
violation of, or a breach or default under, the terms of any Applicable
Contract or (iii) violate or conflict with, or result in any contravention of,
any Applicable Law or any Applicable Order. We do not express any opinion,
however, as to whether the execution, delivery or performance by SkyTerra of
each of the Transaction Documents will constitute a violation of, or a default
under, any covenant, restriction or provision with respect to financial ratios
or tests or any aspect of the financial condition or results of operations of
SkyTerra or any of its subsidiaries.

 

5.             No
Governmental Approval, which has not been obtained or taken and is not in full
force and effect, is required to authorize, or is required for, the execution
or delivery of each of the Transaction Documents by SkyTerra or the
consummation by SkyTerra of the transactions contemplated thereby.

 

6.             The
SkyTerra Shares have been duly authorized by SkyTerra and, when delivered to
and paid for by Blocker Corporation in accordance with the terms of the
Exchange Agreement, will be validly issued, fully paid and nonassessable.

 

7.             The
                    
shares of SkyTerra Non-Voting Common Stock issuable upon the exchange of the
SkyTerra Shares pursuant to Section 4.10(b)(ii) of the Exchange Agreement have
been duly authorized by SkyTerra and, when issued in exchange for SkyTerra
Shares in accordance with the terms of the Exchange Agreement, will be validly
issued, fully paid and nonassessable.

 

8.             The
                    
shares of SkyTerra Common Stock issuable upon the exchange of  shares of SkyTerra Non-Voting Common Stock
pursuant to Section 4.10(b)(ii) of the Exchange Agreement have been duly
authorized by SkyTerra and, when issued in exchange for SkyTerra Common Stock
in accordance with the terms of the Exchange Agreement, will be validly issued,
fully paid and nonassessable.

 

1Exhibit 10.4

 

REGISTRATION RIGHTS AGREEMENT

 

This REGISTRATION RIGHTS
AGREEMENT (this “Agreement”),
dated as of May 6, 2006, is by and among (i) Columbia Space (QP), Inc., a Delaware corporation, Columbia Space
(AI), Inc., a Delaware corporation, Columbia
Space Partners, Inc., a Delaware
corporation, Spectrum Space IV Parallel, Inc., a Delaware corporation, Spectrum Space Equity Investors IV, Inc., a Delaware corporation and Spectrum
Space IV Managers, Inc., a Delaware
corporation, (together, the “Blocker Corporations”),
(ii) Columbia Capital Equity Partners III (QP), L.P., a Delaware limited
partnership, Columbia Capital Equity Partners III (AI), L.P., a Delaware
limited partnership, Columbia Capital Investors III, LLC, a Delaware limited
liability company, Columbia Capital Equity Partners III (Cayman), L.P., a
Cayman Islands exempted limited partnership, Columbia Capital Investors III,
LLC, a Delaware limited liability company, Columbia Capital Employee Investors
III, L.L.C., a Delaware limited liability company, Spectrum Equity Investors
Parallel IV, L.P., a Delaware limited partnership, Spectrum Equity Investors IV
L.P., a Delaware limited partnership, Spectrum IV Investment Managers’ Fund,
L.P., a Delaware limited partnership, MVH Holdings Inc. (“MVH”),
a Delaware corporation and Motient Corporation, a Delaware corporation (together,
the “Stockholders”)
and (iii) SkyTerra Communications, Inc., a Delaware corporation (“SkyTerra”).  Certain capitalized terms used herein are
defined in Section 7 below.

 

RECITALS:

 

WHEREAS, the Blocker
Corporations, SkyTerra and the Stockholders have entered into Exchange
Agreements, each dated as of the date hereof (the “Columbia/Spectrum
Exchange Agreements”),
that provide, subject to the terms and conditions thereof, for the purchase by
SkyTerra of 100% of the limited partnership units (the “MSV LP Units”) of
Mobile Satellite Ventures, LP, a Delaware limited partnership (“MSV”) and common
stock of Mobile Satellite Ventures GP, Inc., a Delaware corporation and the
general partner of MSV (“MSV
GP Shares”), held directly by the Blocker Corporations (the “Columbia/Spectrum Exchange”);

 

WHEREAS, as part of the
consideration to be paid in the Columbia/Spectrum Exchange, SkyTerra will issue
an aggregate of 9,992,976 shares (the “Acquired Shares”) of its common stock, par
value $0.01 per share, of SkyTerra (“Common Shares”) to the Blocker Corporations;

 

WHEREAS, immediately after the
closing of the transactions contemplated by the Columbia/Spectrum Exchange
Agreements, the Blocker Corporations may distribute the Acquired Shares to the
Stockholders (the “Acquired
Shares Distribution”) in accordance with Section 5.1 hereof; and

 

WHEREAS, in order to induce the
Blocker Corporations and the Stockholders to consummate the transactions under the
Columbia/Spectrum Exchange Agreements, SkyTerra has agreed to provide certain
registration rights on the terms and subject to the conditions set forth
herein.

 

NOW, THEREFORE, the parties
hereto hereby agree as follows:

 

 

SECTION 1.    REGISTRATION
UNDER THE SECURITIES ACT.

 

1.1                     Registration.

 

(a)           Each of
the parties to this Agreement shall cooperate, and SkyTerra shall file with the
Securities and Exchange Commission (the “SEC”) as
soon as practicable following the date hereof, a registration statement on the
appropriate form for the purpose of registering the Acquired Shares under the
Securities Act for resale by the Holders (the “Resale
Registration Statement”). 
SkyTerra will cause the Resale Registration Statement to comply as to
form in all material respects with the applicable provisions of the Securities
Act and the rules and regulations thereunder. 
SkyTerra shall use its commercially reasonable efforts, and the Holders
will cooperate with SkyTerra, to have the Resale Registration Statement declared
effective by the SEC as promptly as practicable.

 

(b)           SkyTerra
shall keep the Resale Registration Statement effective (including through the
filing of any required post-effective amendments) until the earlier to occur of
(i) such time as the Blocker Corporations and the Stockholders (and their
permitted transferees pursuant to Sections 5.1 (c), (f) and (i) of this
Agreement) have sold all of the Acquired Shares registered thereunder or (ii)
the second year anniversary of the closing of the transactions contemplated by
the Columbia/Spectrum Exchange Agreement; provided, that such date shall be
extended by the amount of time of any period during which the Holders may not
use the Resale Registration Statement as the result of the occurrence of an
event described in Section 1.2(e) (ii), (iii) or (iv), or Section 2.1
below.  Thereafter, SkyTerra shall be
entitled to withdraw the Resale Registration Statement and, upon such
withdrawal, the Holders shall have no further right to sell any of the Acquired
Shares pursuant to the Resale Registration Statement (or any prospectus forming
a part thereof).

 

1.2          Registration Procedures.  Subject to the terms and conditions hereof,
SkyTerra shall use its commercially reasonable efforts to effect the
registration and the disposition of the Acquired Shares in accordance with the
intended method of disposition thereof, and pursuant thereto SkyTerra shall as
expeditiously as practicable:

 

(a)                                  promptly
prepare and file with the SEC the Resale Registration Statement with respect to
the Acquired Shares (and any amendments, including any post-effective
amendments or supplements to the Resale Registration Statement and prospectus
included therein SkyTerra deems to be necessary) and use its commercially
reasonable efforts to cause the Resale Registration Statement to become
effective and to comply with the provisions of the Securities Act applicable to
it; provided, that before filing the Resale Registration Statement or
prospectus or any amendments or supplements thereto, SkyTerra shall furnish to
counsel for the Holders copies of all such documents proposed to be filed,
including documents incorporated by reference in the Resale Registration
Statement and, if requested by the Holders, the exhibits incorporated by
reference so as to provide the Holders and their counsel a reasonable
opportunity to review and comment on such documents, and SkyTerra (i) will make
such changes and additions thereto as reasonably requested by counsel to the
Holders prior to filing the Resale Registration Statement or amendment thereto
or any prospectus or any supplement thereto and (ii) if any of

 

2

 

the Holders is an
underwriter or controlling person of SkyTerra, will include therein material
relating to the Holders or the plan of distribution for the Acquired Shares
registered thereunder, furnished to SkyTerra in writing, which, in the
reasonable judgment of the Holders, should be included;

 

(b)                                 furnish
to the Holders such number of copies of the Resale Registration Statement, each
amendment and supplement thereto, the prospectus included in the Resale
Registration Statement and such other documents as the Holders may reasonably
request in order to facilitate the disposition of the Acquired Shares registered
thereunder; provided, however, that SkyTerra shall have no
obligation to furnish copies of a final prospectus if the conditions of Rule
172(c) under the Securities Act are satisfied by SkyTerra;

 

(c)                                  prepare
and file with the SEC such amendments and supplements to the Resale
Registration Statement and the prospectus used in connection therewith as may
be necessary to keep the Resale Registration Statement effective for the time
period as specified in Section 1.1 in order to complete the disposition of the
Acquired Shares covered by the Resale Registration Statement and comply with
the provisions of the Securities Act with respect to the disposition of all
Acquired Shares during such period in accordance with the intended methods of
disposition thereof as set forth in the Resale Registration Statement,
including without limitation identification of the permitted transferees of the
Holders;

 

(d)                                 use
its commercially reasonable efforts to register or qualify the Acquired Shares
under such other securities or blue sky laws of such jurisdictions as the
Holders reasonably request and do any and all other acts and things which may
be reasonably necessary or advisable to enable the Holders to consummate the
disposition of the Acquired Shares in such jurisdictions (provided that
SkyTerra shall not be required to (i) qualify generally to do business in any
jurisdiction where it would not otherwise be required to qualify but for this
subsection, (ii) subject itself to taxation in any such jurisdiction or (iii)
consent to general service of process in any such jurisdiction);

 

(e)                                  notify
the Holders, at any time when a prospectus relating thereto is required to be
delivered under the Securities Act, (i) when the Resale Registration Statement
or any post-effective amendment has become effective under the Securities Act,
(ii) of any written request by the SEC for amendments or supplements to the
Resale Registration Statement or prospectus, (iii) of the happening of any
event as a result of which the prospectus included in the Resale Registration
Statement contains an untrue statement of a material fact or omits any fact
necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading (whereupon the Holders shall immediately
cease any offers, sales or other distribution of Acquired Shares registered
thereunder), and, subject to 1.3(c), SkyTerra shall promptly prepare a
supplement or amendment to such prospectus so that, as thereafter used by the
Holders for the resale of Acquired Shares, such prospectus shall not contain an
untrue statement of a material fact or omit to state any fact necessary to make
the statements therein, in light of the circumstances

 

3

 

under which they were made, not misleading, and (iv)
of the issuance of any stop order suspending the effectiveness of the Resale
Registration Statement, or of any order suspending or preventing the use of any
related prospectus or suspending the qualification of any of the Acquired
Shares included in the Resale Registration Statement for sale or distribution
in any jurisdiction;

 

(f)                                    in
the event of the issuance of any stop order suspending the effectiveness of the
Resale Registration Statement, or of any order suspending or preventing the use
of any related prospectus or suspending the qualification of any Acquired
Shares included in the Resale Registration Statement for sale or distribution
in any jurisdiction, SkyTerra shall use its commercially reasonable efforts
promptly to obtain the withdrawal of such order and shall prepare and file an
amended or supplemented prospectus, if required; and

 

(g)                                 provide
a transfer agent and registrar for all Acquired Shares not later than the
effective date of the Resale Registration Statement;

 

(h)                                 use
its commercially reasonable efforts to cause the Acquired Shares covered by the
Resale Registration Statement to be registered with or approved by such other
governmental agencies or authorities as may be necessary to enable the Holders
to complete the disposition of the Acquired Shares covered by such registration
statement and comply with the provisions of the Securities Act with respect to
the disposition of all Acquired Shares covered by the Resale Registration
Statement during such period in accordance with the intended methods of
disposition by the Holders thereof set forth in the Resale Registration
Statement;

 

(i)                                     make
available for inspection by the Holders, any underwriter participating in any
disposition pursuant to the Resale Registration Statement on behalf of the
Holders, and any attorney, accountant or other agent retained by the Holders or
underwriter, all financial and other records, pertinent corporate documents and
properties of SkyTerra, and cause SkyTerra’s officers, managers, employees and
independent accountants to supply all information reasonably requested by
SkyTerra, underwriter, attorney, accountant or agent in connection with the
Resale Registration Statement; and

 

(j)                                     make
generally available to its stockholders a consolidated earnings statement
(which need not be audited) for the 12 months beginning after the effective
date of such registration statement as soon as reasonably practicable after the
end of such period, which earnings statement shall satisfy the requirements of
an earning statement under Section 11(a) of the Securities Act.

 

1.3          Other
Procedural Matters.

 

(a)                                  SEC Correspondence.  SkyTerra shall make available to the Holders
promptly after the same is prepared and publicly distributed, filed with the
SEC, or received by SkyTerra, one copy of the Resale Registration Statement and
any amendment thereto, each preliminary prospectus and each amendment or
supplement thereto,

 

4

 

each letter written by or on behalf of SkyTerra to the
SEC or the staff of the SEC (or other governmental agency or self-regulatory
body or other body having jurisdiction, including any domestic or foreign
securities exchange), in each case relating to the Resale Registration
Statement.  SkyTerra will promptly
respond to any and all comments received from the SEC, with a view towards
causing the Resale Registration Statement or any amendment thereto to be
declared effective by the SEC as soon as practicable and shall file an
acceleration request as soon as practicable following the resolution or
clearance of all SEC comments or, if applicable, following notification by the
SEC that the Resale Registration Statement or any amendment thereto will not be
subject to review.

 

(b)                                 SkyTerra
may require the Holders to furnish to SkyTerra any other information regarding
the Holders and the disposition of Acquired Shares, including without
limitation the plan of distribution of the Acquired Shares, as SkyTerra
reasonably determines, is required to be included in the Resale Registration
Statement.

 

(c)                                  Each
of the Holders agrees that, upon notice from SkyTerra of the happening of any
event as a result of which the prospectus included in the Resale Registration
Statement contains an untrue statement of a material fact or omits any material
fact necessary to make the statements therein not misleading (a “Suspension Notice”),
the Holders will forthwith discontinue disposition of Acquired Shares pursuant
to the Resale Registration Statement until the Holders are advised in writing
by SkyTerra that the use of the prospectus may be resumed and are furnished
with a supplemented or amended prospectus as contemplated by Section 1.2
hereof; provided, however, that such postponement of sales of
Acquired Shares by the Holders shall not in any event exceed (i) twenty (20)
consecutive days or (ii) forty-five (45) days in the aggregate in any 12 month
period.  If SkyTerra shall give the
Holders any Suspension Notice or impose a Lockup Period (as defined below),
SkyTerra shall extend the period of time during which SkyTerra is required to
maintain the Resale Registration Statement effective pursuant to this Agreement
by the number of days during the period from and including the date of the
giving of such Suspension Notice to and including the date the Holders either
are advised by SkyTerra that the use of the prospectus may be resumed or by the
Lockup Period, as applicable.  In any
event, SkyTerra shall not be entitled to deliver more than a total of three (3)
Suspension Notices in any 12 month period.

 

(d)                                 Neither
SkyTerra nor the Holders shall permit any officer, manager, underwriter, broker
or any other person acting on behalf of SkyTerra or the Holders to use any free
writing prospectus (as defined in Rule 405 under the Securities Act) in
connection with the Resale Registration Statement filed pursuant to this
Agreement without the prior written consent of SkyTerra, the Holders and any
underwriter.

 

1.4          Expenses.

 

(a)                                  Registration Expenses.  All Registration Expenses shall be
borne by SkyTerra.

 

5

 

(b)                                 Selling Expenses. 
All expenses incident to the Holders’ performance of or
compliance with this Agreement, including, without limitation, all fees and
expenses of counsel for the Holders, fees and expenses of the Holders’ transfer
agent, and any broker or dealer discounts or commissions attributable to the
disposition of Acquired Shares shall be borne solely by the Holders.

 

SECTION 2.         LOCKUP AGREEMENT.

 

2.1          Lockup. Except
for distributions by Motient to the holders of its common stock or preferred
stock as contemplated by the Exchange Agreement, dated as of the date hereof,
by and among Motient, MVH and SkyTerra, each of the
Holders hereby agrees,
beginning 60 days (extended for any period during a Suspension Notice
during the first 60 days), to
not effect any public sale or distribution (including any sales pursuant to
Rule 144) of equity securities of SkyTerra, or any securities convertible into
or exchangeable or exercisable for such securities, during the seven days prior
to and the 90-day period beginning on the effective date of any primary underwritten
registered public offering of equity securities of SkyTerra or securities
convertible or exchangeable into or exercisable for equity securities of
SkyTerra (except as part of such underwritten registration), unless the
underwriters managing such registered public offering otherwise consent in
writing, and the Holders
will deliver an undertaking to the managing underwriters (if requested)
consistent with this covenant (in each case, a “Lockup
Period”).  Notwithstanding
the foregoing, the Holders
shall not be obligated to comply with the provisions of this Section 2.1 (i) more
than two times in any 12-month period and (ii) unless all officers and
directors of SkyTerra and Apollo Investment Fund IV, L.P., Apollo Overseas
Partners IV, L.P., AIF IV/RRRR LLC, AP/RM Acquisition LLC and ST/RRRR LLC are
also subject to a Lockup Period on substantially the same terms as the Holders.
  If a Stockholder transfers
Acquired Shares to its beneficial owners in accordance with Section 5.1(f)
hereof, such transferees shall not be bound by this Section 2.1.  Notwithstanding the foregoing, this Section
2.1 shall not apply to any Holder (or transferee of any such Holder in
accordance with Section 5.1 hereof) who does not own or have the right to
acquire or vote with respect to Common Shares consisting of, in the aggregate,
more than four percent (4%) of the total combined voting power of all Common
Shares then outstanding.  Solely for
purposes of calculating the four percent (4%) in the preceding sentence, each
Holder shall be considered individually and not in the aggregate with its
permitted transferees.

 

SECTION 3.         INDEMNIFICATION.

 

3.1          Indemnification by
SkyTerra.  SkyTerra agrees to indemnify, to
the extent permitted by law, the Holders, their officers, directors, employees and Affiliates and each
Person who controls the Holders (within the meaning of the Securities Act) against all losses,
claims, damages, liabilities, and expenses caused by any untrue or alleged
untrue statement of material fact contained in the Resale Registration Statement or any
prospectus forming a part of the Resale Registration Statement or any “issuer free writing prospectus” (as
defined in Securities Act Rule 433), or any amendment thereof or supplement
thereto or any omission or alleged omission of a material fact required to be
stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading or any violation or
alleged violation by SkyTerra of the Securities Act, the Exchange Act or
applicable “blue sky” laws, except that SkyTerra shall not be liable to any
Holder pursuant to this Section 3.1 insofar as the same are made in reliance
and in conformity with any information furnished in writing to SkyTerra

 

6

 

by such Holder expressly for use therein or by the failure of such Holder to deliver a copy of such
registration statement or prospectus or any amendments or supplements thereto
as required by law after SkyTerra has furnished such Holder with a sufficient number of copies
of the same.

 

3.2          Indemnification by
the Holders.  In connection with the Resale Registration Statement in which the Holders are participating, each
Holder shall furnish to
SkyTerra in writing such information as SkyTerra reasonably requests for use in
connection with any such registration statement or prospectus and, to the
extent permitted by law, shall indemnify SkyTerra, its directors, officers,
employees and Affiliates, and each Person who controls SkyTerra (within the
meaning of the Securities Act), against any losses, claims, damages,
liabilities, and expenses resulting from any untrue or alleged untrue statement
of material fact contained in the Resale Registration Statement, the prospectus or preliminary prospectus
forming a part of the Resale Registration
Statement or any amendment thereof or supplement thereto or any omission or
alleged omission of a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they
were made, not misleading, but only to the extent that any information so
furnished in writing by such Holder contains such untrue statement or omits a material fact required
to be stated therein necessary to make the statements therein not misleading; provided,
however, that any such obligation of each Holder to indemnify SkyTerra hereunder
shall be limited to the net proceeds to such Holder from the sale of the
Acquired Shares pursuant to the Resale
Registration Statement in the case of the Resale Registration Statement.

 

3.3          Indemnification
Procedures.  Any Person entitled to
indemnification hereunder shall (i) give prompt written notice to the
indemnifying party of any claim with respect to which it seeks indemnification
(provided that the failure to give prompt notice shall not impair any Person’s
right to indemnification hereunder to the extent such failure has not
prejudiced the indemnifying party) and (ii) unless in such indemnified party’s
reasonable judgment a conflict of interest between such indemnified and
indemnifying parties may exist with respect to such claim, permit such
indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party. 
If such defense is assumed, the indemnifying party shall not be subject
to any liability for any settlement made by the indemnified party without its
consent (but such consent shall not be unreasonably withheld).  An indemnifying party who is not entitled to,
or elects not to, assume the defense of a claim shall not be obligated to pay
the fees and expenses of more than one counsel (in addition to local counsel)
for all parties indemnified by such indemnifying party with respect to such
claim, unless in the reasonable judgment of any indemnified party there
may be one or more legal or equitable defenses available to such indemnified
party that are in addition to or may conflict with those available to another
indemnified party with respect to such claim. 
Failure to give prompt written notice shall not release the indemnifying
party from its obligations hereunder.

 

3.4          Investigation;
Contribution.  The indemnification provided for
under this Agreement shall remain in full force and effect regardless of any
investigation made by or on behalf of the indemnified party or any officer,
director, or controlling Person of such indemnified party and shall survive the
transfer of securities.  If the
indemnification provided under Section 3.1 or Section 3.2 of this Agreement is held
by a court to be unavailable or unenforceable in respect of any losses, claims,
damages, liabilities or expenses referred to herein, then each applicable
indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified Person as a result
of such losses, claims, damages, liabilities

 

7

 

or expenses in
such proportion as is appropriate to reflect the relative fault of the
indemnifying party on the one hand and of the indemnified party on the other in
connection with the statements or omissions that result in such losses, claims,
damages, liabilities or expenses as well as any other relevant equitable
considerations.  The relative fault of
the indemnifying party on the one hand and of the indemnified Person on the
other shall be determined by reference to, among other things, whether the untrue
or alleged untrue statement of a material fact or the omission or alleged
omission to state a material fact relates to information supplied by the
indemnifying party or by the indemnified party, and by such party’s relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.  In no event
shall the liability of each Holder for contribution pursuant to this Section
3.4 be greater than the amount for which such Holder would have been liable
pursuant to Section 3.2 had indemnification been available and enforceable.

 

SECTION 4.    RULE
144 TRANSACTIONS.

 

4.1          Undertaking
to File Reports and Cooperate in Rule 144 Transactions.  For as long as the Holders continue to
hold any Acquired Shares, SkyTerra shall use its commercially reasonable efforts to file with the SEC,
on a timely basis, all annual, quarterly and other periodic reports required to
be filed by it under Sections 13 and 15(d) of the Exchange Act, and the rules
and regulations thereunder;
provided, however, that the foregoing shall not be construed to
require SkyTerra to prepare and file periodic reports if it is not required to
do so under the Exchange Act.  In the
event of any proposed sale by any Holder of Acquired Shares pursuant to Rule
144 under the Securities Act or otherwise as provided herein, which sale is to
be made in accordance with the terms of Section 5.1(b) hereof, SkyTerra shall
use its commercially reasonable efforts to cooperate with such Holder so as to
enable such sales to be made in accordance with applicable laws, rules and
regulations, the requirements of the transfer agent of SkyTerra, and the
reasonable requirements of the broker through which the sales are proposed to
be executed, and shall, upon written request, furnish unlegended certificates
representing ownership of Acquired Shares sold thereby, such certificates to be
furnished in such numbers and denominations as such Holder may reasonably
request.

 

SECTION 5.    RESTRICTIONS
ON TRANSFER.

 

5.1          Permitted
Transfers.  Each of the Holders hereby agrees that,
until it and any permitted transferees under paragraph (f) hereunder have
disposed of all of the Acquired Shares, it will not, directly or indirectly,
without the prior written consent of SkyTerra, sell, distribute, transfer or otherwise dispose (in
each case, a “Disposition”) of any Acquired
Shares (including any shares of SkyTerra Non-Voting Common Stock (as defined in
the Columbia/Spectrum Exchange Agreements) issued to Motient or MVH (or any
subsidiary of either) in exchange for Acquired Shares, or shares of SkyTerra
Common Stock exchanged therefore, in each case pursuant to Section 4.10(b) of
the Columbia/ Spectrum Exchange Agreements), except:

 

(a)                                  sales
of Acquired Shares pursuant to the Resale Registration Statement; or

 

(b)                                 sales
of Acquired Shares pursuant to Rule 144 under the Securities Act; or

 

8

 

(c)                                  sales
or transfers of Acquired Shares to any Person or group of related Persons who
would immediately thereafter not own or have the right to acquire or vote with
respect to Common Shares consisting of, in the aggregate, more than five
percent (5%) (with each Person, other than Affiliates of the transferring
Holder, considered individually and not in the aggregate with the other
transferees) of the total combined voting power of all Common Shares then
outstanding; provided, however, that in each such case, the
transferee shall receive and hold such Acquired Shares subject to, and the
transferee and all of the transferees’ Affiliates shall agree to be bound by,
all the terms of this Agreement, which terms shall also inure to the benefit of
such transferees, and there shall be no further transfer of such Acquired
Shares, except in accordance with the provisions of this Section 5.1; or

 

(d)                                 a
bona fide pledge of or the granting of a security interest in the Acquired
Shares to an institutional lender for money borrowed, provided that such
lender acknowledges in writing that it has received a copy of this Agreement
and agrees, upon its becoming the owner of, or obtaining dispositive authority
with respect to or in connection with any disposition of, any such Acquired
Shares, to be bound by the provisions of this Agreement in connection with any
right it may have to dispose of any such Acquired Shares (and, upon agreeing so
to be bound, the provisions of this Agreement shall inure to the benefit of
such party); or

 

(e)                                  sales
or transfers of Acquired Shares pursuant to a tender or exchange offer; or

 

(f)                                    dispositions
of Acquired Shares by any Holder to any wholly owned subsidiary of such Holder
or to a successor corporation of such Holder or to an Affiliate of such Holder;
provided, however, that in each such case, the transferee shall
receive and hold such Acquired Shares subject to, and the transferee and all of
the transferees’ Affiliates shall agree to be bound by, all the terms of this
Agreement, which terms shall also inure to the benefit of such transferees, and
there shall be no further transfer of such Acquired Shares, except in
accordance with the provisions of this Section 5.1; or

 

(g)                                 dispositions
pursuant to any merger, consolidation, reorganization or recapitalization to
which SkyTerra is a party or in connection with any reclassification of Common
Shares; or

 

(h)                                 dispositions
of the Acquired Shares pursuant to the Acquired Shares Distribution; or

 

(i)                                     dispositions
of Acquired Shares by a Stockholder to its beneficial owners;

 

provided, that (i) in the event that any
Holder seeks to effect a Disposition of any Acquired Shares pursuant to clauses
(b), (c), (f), (h) or (i) of this Section 5.1, such Disposition is made in
compliance with applicable securities laws, and (ii) prior to any Disposition
pursuant to clause (b) (other than with respect to sales of Acquired Shares pursuant
to Rule 144(k) under the Securities Act), if requested by SkyTerra’s transfer
agent, or in any Disposition pursuant to clauses (c), (f) or (h), such Holder
shall have delivered to SkyTerra an opinion of counsel stating that such
Disposition (A) is permitted by this Agreement and

 

9

 

the applicable
Columbia/Spectrum Exchange Agreement, (B) does not require registration under
the Securities Act, and solely with respect to Dispositions pursuant to Section
5.1(h), (C) assuming the accuracy of the representations and warranties
contained in the Columbia/Spectrum Exchange Agreement, does not cause the
Columbia/Spectrum Exchange to be required to have been registered under the
Securities Act.

 

Upon a disposition of Acquired Share pursuant to
Section 5.1(i) to its beneficial owners, such beneficial owners shall hold the
Acquired Shares free of any restrictions under this Agreement and shall not be
required to become parties to this Agreement; provided that the applicable
Stockholder distributing the Acquired Shares shall act as a representative to
such beneficial owners receiving Acquired Shares for purposes of receiving
notifications pursuant to this Agreement.

 

SECTION 6.    INTENTIONALLY
OMITTED

 

SECTION 7.    DEFINITIONS.

 

“Affiliate” means,
with respect to any specified Person, any other Person that, directly or
indirectly or through one or more intermediaries, controls, is controlled by or
is under common control with such specified Person.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder, or any successor statute.

 

“Holders” means the
Blocker Corporations and the Stockholders and any of their permitted
transferees.

 

“Person” means any
individual, firm, partnership, corporation, trust, joint venture, limited
liability company, association, joint stock company, unincorporated
organization, or any other entity or organization, including a governmental
entity or any department, agency, or political subdivision thereof.

 

“Registration Expenses”
means all expenses incident to SkyTerra’s performance of or compliance with
this Agreement, including without limitation all registration and filing fees,
fees and expenses of compliance with securities or blue sky laws, fees with
respect to filings required to be made with the NASD, printing expenses,
messenger and delivery and mailing expenses, fees and disbursements of
custodians, and fees and disbursements of counsel for SkyTerra and all
independent certified public accountants retained by SkyTerra and other Persons
retained by SkyTerra.

 

“Securities Act” means
the Securities Act of 1933, as amended, and the rules and regulations
thereunder, or any successor statute.

 

10

 

SECTION 8.    MISCELLANEOUS.

 

8.1          Legends and Stop
Transfer Orders.

 

(a)                                  Each
of the Holders hereby agrees that all certificates representing Acquired Shares
shall have the following legend (or other legend to the same effect): “The
shares represented by this certificate are subject to restrictions on transfer
and other restrictions pursuant to the provisions of a Registration Rights
Agreement, dated May 6, 2006, between SkyTerra Communications, Inc. and the
Holders named therein, a copy of which is on file at the office of the
corporate secretary of the Holders.”

 

(b)                                 Each
of the Holders hereby agrees to the entry of stop transfer orders with the
transfer agent and registrar of the Acquired Shares against the transfer (other
than in compliance with this Agreement) of legended securities held by the
Holders (or its permitted transferees under Section 5.1(c), (f), (g), (h) or
(i) hereof).

 

(c)                                  SkyTerra
agrees to remove any stop transfer orders provided in paragraph (b) above in
sufficient time to permit any party to make any transfer permitted by the terms
of this Agreement.

 

8.2          Consolidation or
Merger of SkyTerra.

 

For as long as the Holders continue to hold any Acquired Shares, if any
of the following events (collectively, a “SkyTerra Change of Control”) occurs, namely:

 

(a)   any reclassification or
exchange of the outstanding Common Shares (other than a change in par value, or
from par value to no par value, or from no par value to par value, or as a
result of a subdivision or combination);

 

(b)   any merger, consolidation,
statutory share exchange or combination of SkyTerra with another corporation as
a result of which holders of Common Shares shall be entitled to receive stock
or other securities with respect to or in exchange for such Common Shares; or

 

(c)   any sale or conveyance of the
properties and assets of SkyTerra as, or substantially as, an entirety to any
other corporation as a result of which holders of Common Shares shall be
entitled to receive stock or other securities with respect to or in exchange for
such Common Shares;

 

SkyTerra shall
enter into, or SkyTerra shall cause the successor or purchasing corporation to
enter into, as the case may be, an agreement with the Holders that provides the
Holders with substantially similar rights as provided in this Agreement with
respect to the stock or other securities to be issued in the SkyTerra Change of
Control transaction with respect to or in exchange for the Acquired Shares.

 

8.3          Specific
Performance.  The parties hereto acknowledge and
agree that in the event of any breach of this Agreement, the non-breaching
parties would be irreparably harmed and could not be made whole by monetary
damages.  It is accordingly agreed that
the parties hereto shall and

 

11

 

do hereby waive the defense in any action for specific performance
that a remedy at law would be adequate and that the parties hereto, in addition
to any other remedy to which they may be entitled at law or in equity, shall be
entitled to compel specific performance of this Agreement in any action
instituted hereunder.

 

8.4          Amendments and
Waivers.  The failure of any party to enforce
any of the provisions of this Agreement shall in no way be construed as a
waiver of such provisions and shall not affect the right of such party
thereafter to enforce each and every provision of this Agreement in accordance
with its terms.  No modification,
amendment, or waiver of any provision of this Agreement shall be effective
against the Holders or
SkyTerra except by a written agreement signed by the Holders holding
Acquired Shares and SkyTerra.

 

8.5          Successors and
Assigns.  All covenants and agreements in
this Agreement by or on behalf of any of the parties hereto shall bind and
inure to the benefit of the respective successors and permitted assigns of the
parties hereto whether so expressed or not including, without limitation, any
Person which is the successor to the Holders or SkyTerra.

 

8.6          Severability.  If any term, provision, covenant or restriction of this Agreement,
or any part thereof, is held by a court of competent jurisdiction or any
foreign federal, state, county, or local government or any other governmental,
regulatory, or administrative agency or authority to be invalid, void,
unenforceable, or against public policy for any reason, the remainder of the
terms, provisions, covenants, and restrictions of this Agreement shall remain
in full force and effect and shall in no way be affected, impaired, or
invalidated.

 

8.7          Entire
Agreement.  Except as otherwise expressly set
forth herein, this document embodies the complete agreement and understanding
among the parties hereto with respect to the subject matter hereof and
supersedes and preempts any prior understandings, agreements, or
representations by or among the parties, written or oral, which may have
related to the subject matter hereof in any way.

 

8.8          Counterparts.  This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which shall constitute one and
the same instrument, and it shall not be necessary in making proof of this
Agreement to produce or account for more than one such counterpart.

 

8.9          Headings.  The headings in this Agreement are for convenience of reference
only and shall not limit or otherwise affect the meaning of terms contained
herein.

 

8.10        GOVERNING LAW;
CONSENT OF EXCLUSIVE JURISDICTION; WAIVER OF JURY TRIAL. 
THIS AGREEMENT AND THE VALIDITY AND PERFORMANCE OF THE TERMS HEREOF
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW OR CHOICE OF
LAW.  THE PARTIES HERETO HEREBY AGREE
THAT ALL ACTIONS OR PROCEEDINGS ARISING DIRECTLY OR INDIRECTLY FROM OR IN
CONNECTION WITH THIS AGREEMENT SHALL BE LITIGATED ONLY IN THE STATE OR FEDERAL
COURTS LOCATED IN MANHATTAN IN THE STATE OF NEW YORK.  TO THE EXTENT PERMITTED BY APPLICABLE LAW,

 

12

 

THE PARTIES HERETO CONSENT TO THE EXCLUSIVE JURISDICTION AND VENUE
OF THE FOREGOING COURTS AND CONSENT THAT ANY PROCESS OR NOTICE OF MOTION OR
OTHER APPLICATION TO EITHER OF SAID COURTS OR A JUDGE THEREOF MAY BE SERVED
INSIDE OR OUTSIDE THE STATE OF NEW YORK BY REGISTERED MAIL, RETURN RECEIPT
REQUESTED, DIRECTED TO SUCH PARTY AT ITS ADDRESS SET FORTH IN THIS AGREEMENT
(AND SERVICE SO MADE SHALL BE DEEMED COMPLETE FIVE (5) DAYS AFTER THE SAME HAS
BEEN POSTED AS AFORESAID) OR BY PERSONAL SERVICE OR IN SUCH OTHER MANNER AS MAY
BE PERMISSIBLE UNDER THE RULES OF SAID COURTS. 
THE PARTIES HERETO HEREBY WAIVE ANY RIGHT TO A JURY TRIAL IN CONNECTION
WITH ANY LITIGATION PURSUANT TO THIS AGREEMENT.

 

8.11        Notices.  Any notices, reports or other
correspondence (hereinafter collectively referred to as “correspondence”)
required or permitted to be given hereunder shall be given in writing and shall
be deemed given three business days after the date sent by certified or
registered mail (return receipt requested), one business day after the date
sent by overnight courier or on the date given by telecopy (with confirmation
of receipt) or delivered by hand, to the party to whom such correspondence is
required or permitted to be given hereunder.

 

To: MVH Holdings, Inc.

 

c/o Motient Corporation

300 Knightsbridge Parkway

Lincolnshire Parkway

Lincolnshire, IL  60069

Facsimile: (847) 478-4810

Attention: General Counsel

 

with a copy (which shall not constitute notice) to:

 

Andrews Kurth
LLP

600 Travis
Street, Suite 4200

Houston, Texas
77002

Facsimile:
(713) 220-4285

Attn:  Mark Young, Esq.

 

To: Columbia Space (QP), Inc.

Columbia Space (AI), Inc.

Columbia Space Partners, Inc.

Columbia Capital Equity
Partners III (QP), L.P.

Columbia Capital Equity
Partners III (AI), L.P.

Columbia Capital Investors III,
LLC

Columbia Capital Equity
Partners III (Cayman), L.P.

Columbia Capital Investors III,
LLC

Columbia Capital Employee
Investors III, L.L.C.

 

13

 

 

Columbia
Capital Equity Partners III (AI), L.P.

 

201 North Union Street

Suite 300

Alexandria, Virginia 22314

Facsimile:
(703) 519-3904

Attn James B. Fleming

 

with a copy (which shall not constitute
notice) to:

 

Edwards
Angell Palmer & Dodge LLP

111
Huntington Avenue

Boston,
MA 02199

Facsimile: (617) 227-4420

Attn: Stephen O. Meredith, Esq.

 

To: Spectrum Space IV Parallel,
Inc.

Spectrum Space Equity Investors
IV, Inc.

Spectrum Space IV Managers,
Inc.

Spectrum Equity Investors
Parallel IV, L.P.,

Spectrum Equity Investors IV
L.P.,

Spectrum IV Investment Managers’
Fund, L.P.

 

Spectrum IV
Investment Managers’ Fund, L.P.

One
International Place,

29th Floor

Boston, MA
02110

Facsimile:
(617) 464-4601

Attn:  Kevin J. Maroni

 

with a copy (which shall not constitute
notice) to:

 

Edwards
Angell Palmer & Dodge LLP

111
Huntington Avenue

Boston,
MA 02199

Facsimile: (617) 227-4420

Attn: Stephen O. Meredith, Esq.

 

To SkyTerra:

 

SkyTerra Communications, Inc.

19 West 44th Street, Suite 507

New York, New York 10036

Facsimile:

Attn:       Robert C. Lewis

 

14

 

with a copy (which shall not constitute notice) to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

Four Times Square

New York, New York 10036

Facsimile: (917) 777-2918

Attn:       Gregory A. Fernicola, Esq.

 

15

 

IN WITNESS WHEREOF, the parties
hereto have executed this Registration Rights Agreement on the day and year
first above written.

 

	
   

  	
  SKYTERRA
  COMMUNICATIONS, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Jeffrey A. Leddy

  
	
   

  	
   

  	
  Name: Jeffrey A. Leddy

  	
   

  
	
   

  	
   

  	
  Title: Chief Executive
  Officer

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COLUMBIA SPACE (QP), INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Donald A. Doering

  
	
   

  	
   

  	
  Name: 

  	
  Donald A. Doering

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COLUMBIA SPACE (AI), INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Donald A. Doering

  
	
   

  	
   

  	
  Name: 

  	
  Donald A. Doering

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  COLUMBIA SPACE PARTNERS, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Donald A. Doering

  
	
   

  	
   

  	
  Name: 

  	
  Donald A. Doering

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SPECTRUM SPACE IV PARALLEL, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Kevin J. Maroni

  
	
   

  	
   

  	
  Name: 

  	
  Kevin J. Maroni

  
	
   

  	
   

  	
  Title:

  	
  President

  
							

 

16

 

	
   

  	
  SPECTRUM SPACE EQUITY INVESTORS IV,

  INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kevin J. Maroni

  
	
   

  	
   

  	
  Name: 

  	
  Kevin J. Maroni

  
	
   

  	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SPECTRUM SPACE IV MANAGERS, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Kevin J. Maroni

  
	
   

  	
   

  	
  Name: 

  	
  Kevin J. Maroni

  
	
   

  	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SPECTRUM IV INVESTMENT MANAGERS’

  FUND, L.P.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Kevin J. Maroni

  
	
   

  	
   

  	
  Name: 

  	
  Kevin J. Maroni

  
	
   

  	
   

  	
  Title:

  	
  General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SPECTRUM EQUITY INVESTORS IV, L.P.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Spectrum Equity Associates IV, L.P.

  
	
   

  	
   

  	
  Its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Kevin J. Maroni

  
	
   

  	
   

  	
  Name: 

  	
  Kevin J. Maroni

  
	
   

  	
   

  	
  Title:

  	
  General Partner

  

 

17

 

	
   

  	
  SPECTRUM EQUITY INVESTORS PARALLEL

  IV, L.P.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Spectrum Equity Associates IV, L.P.

  
	
   

  	
   

  	
  Its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Kevin J. Maroni

  
	
   

  	
   

  	
  Name: 

  	
  Kevin J. Maroni

  
	
   

  	
   

  	
  Title:

  	
  General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  COLUMBIA CAPITAL EQUITY PARTNERS III
  (CAYMAN), L.P.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Columbia Capital Equity Partners (Cayman)
  III,

  Ltd., as General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Donald A. Doering

  
	
   

  	
   

  	
  Name:

  	
  Donald A. Doering

  
	
   

  	
   

  	
  Title:   Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  COLUMBIA CAPITAL INVESTORS III, LLC

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Columbia Capital Equity Partners III, L.P.,
  as

  General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Donald A. Doering

  
	
   

  	
   

  	
  Name: 

  	
  Donald A. Doering

  
	
   

  	
   

  	
  Title:   Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  COLUMBIA CAPITAL EMPLOYEE

  INVESTORS III, L.L.C.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Columbia Capital III, L.L.C., its Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Donald A. Doering

  
	
   

  	
   

  	
  Name: 

  	
  Donald A. Doering

  
	
   

  	
   

  	
  Title:   Chief Financial Officer

  

 

18

 

	
   

  	
  COLUMBIA CAPITAL EQUITY PARTNERS III

  (AI), L.P.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Columbia Capital Equity Partners III, L.P.,
  as

  General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Donald A. Doering

  
	
   

  	
   

  	
  Name: 

  	
  Donald A. Doering

  
	
   

  	
   

  	
  Title:   Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  COLUMBIA CAPITAL EQUITY PARTNERS III

  (QP), L.P.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Columbia Capital Equity Partners III, L.P.,
  as

  General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Donald A. Doering

  
	
   

  	
   

  	
  Name: 

  	
  Donald A. Doering

  
	
   

  	
   

  	
  Title:   Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  MVH HOLDINGS INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Christopher Downie

  
	
   

  	
   

  	
  Name:

  	
   Christopher Downie

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President and 

    Chief Operating Officer

  

 

19

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]