Document:

Registration Rights Agreement

 Exhibit 4.2 
 REGISTRATION RIGHTS AGREEMENT 
 by and among 

Buccaneer Merger Sub, Inc., 
 and 
 Credit Suisse Securities (USA) LLC 

Barclays Capital Inc. 
 Goldman, Sachs & Co., 
 as Initial Purchasers 

Dated as of December 22, 2010 

 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of December 22, 2010, by
and among Buccaneer Merger Sub, Inc., a Delaware corporation (“Buccaneer”), and Credit Suisse Securities (USA) LLC, Barclays Capital Inc. and Goldman, Sachs & Co., as initial purchasers (the “Initial
Purchasers”), each of whom has agreed to purchase Buccaneer’s 9.125% Senior Notes due 2019 (the “Initial Notes”) pursuant to the Purchase Agreement (as defined below). The Initial Notes will be issued
pursuant to an indenture to be dated the date hereof (as such indenture is amended or supplemented from time to time in accordance with the terms thereof, the “Indenture”), between Buccaneer and Wilmington Trust FSB, as
trustee (the “Trustee”). As part of the Transactions, Buccaneer will merge (the “Merger”) with and into Syniverse Holdings, Inc. (the “Company”), with the Company as the
surviving corporation in such Merger. On the Completion Date, Buccaneer shall cause (1) the Company to execute and deliver to the Trustee (with copies to the Initial Purchasers) a supplemental indenture relating to the Indenture (the
“Supplemental Indenture”), which Supplemental Indenture will cause the obligations of Buccaneer under the Indenture to be assumed by the Company and (2) each subsidiary of the Company listed on Schedule B of the Purchase
Agreement and any other subsidiaries of the Company that are required to become guarantors of the Bank Facilities (such subsidiaries, collectively, the “Guarantors”) to execute and deliver to the Trustee (with copies to the
Initial Purchasers) the Supplemental Indenture which will cause the Guarantors to unconditionally guarantee, jointly and severally, the payment of principal of, premium, if any, and interest on the Notes on a senior unsecured basis (the
“Guarantees”). As used herein, the “Company” refers to Buccaneer prior to the Merger and to the Company after the Merger. The “Initial Securities” refers to the Initial Notes prior to the
Merger and to the Initial Notes and the Guarantees after the Merger. 
 This Agreement is made pursuant to the Purchase
Agreement, dated December 16, 2010 (as amended or supplemented from time to time, the “Purchase Agreement”), among Buccaneer and the Initial Purchasers (i) for the benefit of the Initial Purchasers and (ii) for
the benefit of the holders from time to time of the Initial Securities, including the Initial Purchasers. In order to induce the Initial Purchasers to purchase the Initial Securities, Buccaneer has agreed to provide the registration rights set forth
in this Agreement and, on or prior to the Completion Date, to cause the Guarantors to execute counterparts to this Agreement in the form attached hereto as Exhibit A (the “Counterparts” and each, a
“Counterpart”). The execution and delivery of this Agreement is a condition to the obligations of the Initial Purchasers set forth in Section 5(h) of the Purchase Agreement. 

The parties hereby agree as follows: 
 SECTION 1. Definitions. As used in this Agreement, the following capitalized terms shall have the following meanings: 
 Additional Interest: As defined in Section 5 hereof. 

Additional Interest Payment Date: With respect to the Initial Securities, each Interest Payment Date. 

 Advice: As defined in Section 6(c) hereof. 

Agreement: As defined in the preamble hereto. 
 Bank Facilities: Buccaneer’s new senior secured credit facilities, consisting of a new senior secured term loan facility of $1,025,000,000 and a new senior secured revolving credit
facility of $150,000,000, that are being entered into in connection with the Merger and to finance the Transactions. 

Broker-Dealer: Any broker or dealer registered under the Exchange Act. 

Buccaneer: As defined in the preamble hereto. 
 Business Day: Any day other than a Saturday, Sunday or U.S. federal holiday or a day on which banking institutions or trust companies located in New York, New York are authorized or
obligated to be closed. 
 Closing Date: The date of this Agreement. 

Commission: The U.S. Securities and Exchange Commission. 

Company: As defined in the preamble hereto. 
 Completion Date: The date on which the proceeds of the Initial Notes are released from escrow for use in financing the Merger and the other Transactions. 

Consummate: A registered Exchange Offer shall be deemed “Consummated” for purposes of this Agreement upon the
occurrence of (i) the filing and effectiveness under the Securities Act of the Exchange Offer Registration Statement relating to the Exchange Securities to be issued in the Exchange Offer, (ii) the maintenance of such Registration
Statement continuously effective and the keeping of the Exchange Offer open for a period not less than the minimum period required pursuant to Section 3(b) hereof, and (iii) the delivery by the Company to the Registrar under the Indenture
of Exchange Securities in the same aggregate principal amount as the aggregate principal amount of Initial Securities that were tendered by Holders thereof pursuant to the Exchange Offer. 

Consummation Target Date: The date which is 30 days after the Effectiveness Target Date. 

Counterpart: As defined in the preamble hereto. 
 Effectiveness Target Date: The date which is 90 days after the Filing Deadline. 
 Exchange Act: The Securities Exchange Act of 1934, as amended. 

Exchange Offer: The registration by the Company under the Securities Act of the Exchange Securities pursuant to a
Registration Statement pursuant to which the Company offers the Holders of all outstanding Transfer Restricted Securities permitted under applicable law and 

  
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Commission policy the opportunity to exchange all such outstanding Transfer Restricted Securities held by such Holders for Exchange Securities in an aggregate principal amount equal to the
aggregate principal amount of the Transfer Restricted Securities tendered in such exchange offer by such Holders. 

Exchange Offer Registration Statement: The Registration Statement relating to the Exchange Offer, including the related
Prospectus. 
 Exchange Securities: The 9.125% Senior Notes due 2019, of the same series under the Indenture as
the Initial Notes and the Guarantees to be attached thereto, to be issued to Holders in exchange for Transfer Restricted Securities pursuant to this Agreement. 
 Filing Deadline: The date which is 270 days after the Issue Date. 

FINRA: Financial Industry Regulatory Authority, Inc. 

Guarantees: As defined in the preamble hereto.  

Guarantors: As defined in the preamble hereto.  

Holder: As defined in Section 2(b) hereof.  

Indemnified Holder: As defined in Section 8(a) hereof. 

Indenture: As defined in the preamble hereto. 
 Initial Purchasers: As defined in the preamble hereto. 

Initial Notes: As defined in the preamble hereto. 
 Initial Placement: The issuance and sale by Buccaneer of the Initial Securities to the Initial Purchasers pursuant to the Purchase Agreement. 

Initial Securities: As defined in the preamble hereto. 

Interest Payment Date: As defined in the Indenture and the Securities. 

Issue Date: Issue Date means December 22, 2010. 

Issuer Free Writing Prospectus: Any offer of the Company’s securities that would constitute a “free writing
prospectus”, as defined in Rule 405 of the Securities Act, that is made by the Company or an affiliate of the Company. 

Issuer Indemnified Party: As defined in Section 8(b) hereof. 

Merger: As defined in the preamble hereto. 
 Permitted Exchange Offer Blackout Period: As defined in Section 3 hereof. 

  
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 Permitted Shelf Blackout Period: As defined in Section 4 hereof.

 Person: An individual, partnership, corporation, trust or unincorporated organization, or a government or
agency or political subdivision thereof. 
 Prospectus: The prospectus included in a Registration Statement, as
amended or supplemented by any prospectus supplement and by all other amendments thereto, including post-effective amendments, and all material incorporated by reference into such Prospectus. 

Registration Default: As defined in Section 5 hereof. 

Registration Statement: Any registration statement of the Company relating to (a) an offering of Exchange Securities
pursuant to an Exchange Offer or (b) the registration for resale of Transfer Restricted Securities pursuant to the Shelf Registration Statement, which is filed pursuant to the provisions of this Agreement, in each case, including the Prospectus
included therein, all amendments and supplements thereto (including post-effective amendments) and all exhibits and material incorporated by reference therein. 
 Securities Act: The Securities Act of 1933, as amended.  
 Shelf Filing Deadline: As defined in Section 4(a) hereof.  
 Shelf Registration Statement: As defined in Section 4(a) hereof. 
 Supplemental Indenture: As defined in the preamble hereto. 

Transactions: Such term as defined in the final offering circular of Buccaneer dated December 16, 2010 that was used in
connection with the Initial Placement and includes the consummation of the Merger, the entering into of the Bank Facilities, the issuance of the Initial Notes, the consummation of the contemplated contributions of equity to be made to Buccaneer and
the other related transactions described in such final offering circular. 
 Transfer Restricted Securities: Each
Initial Security, until the earliest to occur of (a) the date on which such Initial Security is exchanged in the Exchange Offer for an Exchange Security entitled to be resold to the public by the Holder thereof without complying with the
prospectus delivery requirements of the Securities Act, (b) the date on which such Initial Security has been effectively registered under the Securities Act and disposed of in accordance with a Shelf Registration Statement and (c) the date
on which such Initial Security is distributed to the public by a Broker-Dealer pursuant to the “Plan of Distribution” contemplated by the Exchange Offer Registration Statement (including delivery of the Prospectus contained therein).

 Trustee: As defined in the preamble hereto. 

Trust Indenture Act: The Trust Indenture Act of 1939, as amended. 

Underwritten Registration or Underwritten Offering: A registration in which securities of the Company are sold to an
underwriter for reoffering to the public. 

  
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 SECTION 2. Securities Subject to this Agreement. 

(a) Transfer Restricted Securities. The securities entitled to the benefits of this Agreement are the Transfer Restricted
Securities. 
 (b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer Restricted
Securities (each, a “Holder”) whenever such Person owns Transfer Restricted Securities. 
 SECTION 3.
Registered Exchange Offer. 
 (a) Unless the Exchange Offer shall not be permissible under applicable law or Commission
policy (after the procedures set forth in Section 6(a) hereof have been complied with), each of the Company, and, upon execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the
Guarantors shall use commercially reasonable efforts to (i) cause to be filed with the Commission no later than the Filing Deadline (or if the Filing Deadline is not a Business Day, the next succeeding Business Day), a Registration Statement
under the Securities Act relating to the Exchange Securities and the Exchange Offer, (ii) cause such Registration Statement to become effective no later than the Effectiveness Target Date (or if the Effectiveness Target Date is not a Business
Day, the next succeeding Business Day), (iii) in connection with the foregoing, file (A) all pre-effective amendments to such Registration Statement as may be necessary in order to cause such Registration Statement to become effective,
(B) if applicable, a post-effective amendment to such Registration Statement pursuant to Rule 430A under the Securities Act and (C) cause all necessary filings in connection with the registration and qualification of the Exchange
Securities to be made under the state securities or blue sky laws of such jurisdictions as are necessary to permit Consummation of the Exchange Offer, and (iv) upon the effectiveness of such Registration Statement, commence the Exchange Offer.
The Exchange Offer shall be on the appropriate form permitting registration of the Exchange Securities to be offered in exchange for the Transfer Restricted Securities and to permit resales of Initial Securities held by Broker-Dealers as
contemplated by Section 3(c) hereof. 
 (b) The Company and, upon execution and delivery of a Counterpart pursuant to
Section 12(e) hereof and consummation of the Merger, each of the Guarantors shall use their commercially reasonable efforts to cause the Exchange Offer Registration Statement to be effective continuously and shall keep the Exchange Offer open
for a period of not less than the minimum period required under applicable federal and state securities laws to Consummate the Exchange Offer; provided, however, that in no event shall such period be less than 20 Business Days (or longer if
required by applicable law) after the date notice of the Exchange Offer is mailed to the Holders. The Company shall cause the Exchange Offer to comply with all applicable federal and state securities laws. No securities other than the Exchange
Securities shall be included in the Exchange Offer Registration Statement. The Company shall use commercially reasonable efforts to cause the Exchange Offer to be Consummated no later than the Consummation Target Date (or if the Consummation Target
Date is not a Business Day, the next succeeding Business Day). 

  
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 (c) The Company shall indicate in a “Plan of Distribution” section contained in
the Prospectus forming a part of the Exchange Offer Registration Statement that any Broker-Dealer who holds Initial Securities that are Transfer Restricted Securities and that were acquired for its own account as a result of market-making activities
or other trading activities (other than Transfer Restricted Securities acquired directly from the Company), may exchange such Initial Securities pursuant to the Exchange Offer; however, such Broker-Dealer may be deemed to be an
“underwriter” within the meaning of the Securities Act and must, therefore, deliver a prospectus meeting the requirements of the Securities Act in connection with any resales of the Exchange Securities received by such Broker-Dealer in the
Exchange Offer, which prospectus delivery requirement may be satisfied by the delivery by such Broker-Dealer of the Prospectus contained in the Exchange Offer Registration Statement. Such “Plan of Distribution” section shall also contain
all other information with respect to such resales by Broker-Dealers that the Commission may require in order to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Broker-Dealer or disclose the
amount of Initial Securities held by any such Broker-Dealer except to the extent required by the Commission as a result of a change in policy after the date of this Agreement. 
 Each of the Company and, upon execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors shall use its commercially reasonable
efforts to keep the Exchange Offer Registration Statement continuously effective, supplemented and amended as required by the provisions of Section 6(c) hereof to the extent necessary to ensure that it is available for resales of Initial
Securities acquired by Broker-Dealers for their own accounts as a result of market-making activities or other trading activities, and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and
regulations of the Commission as announced from time to time, for a period ending on the earlier of (i) 180 days from the date on which the Exchange Offer Registration Statement is declared effective and (ii) the date on which a
Broker-Dealer is no longer required to deliver a prospectus in connection with market-making or other trading activities. 
 The
Company shall provide sufficient copies of the latest version of such Prospectus to Broker-Dealers promptly upon request at any time during such 180-day (or shorter as provided in the foregoing sentence) period in order to facilitate such resales.

 Notwithstanding anything to the contrary in this Agreement, at any time, the Company may delay the filing of any Exchange
Offer Registration Statement or delay or suspend the effectiveness thereof and shall not be required to maintain the effectiveness thereof or amend or supplement such Exchange Offer Registration Statement, for a period of time not to exceed an
aggregate of 90 days in any twelve-month period, if (1) the Board of Directors of the Company determines, in good faith, that the disclosure in such Exchange Offer Registration Statement of an event, occurrence or other item at such time could
reasonably be expected to have a material adverse effect on the Company’s business, operations or prospects or (2) the disclosure in such Exchange Offer Registration Statement otherwise relates to a material business transaction which has
not been publicly disclosed and the Board of Directors of the Company determines, in good faith, that any such disclosure would jeopardize the success of such transaction or that disclosure of such transaction is prohibited pursuant to the terms
thereof (such period of time, not to exceed 90 days in the aggregate during any twelve-month period, a “Permitted Exchange Offer Blackout Period”). 

  
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 SECTION 4. Shelf Registration. 

(a) Shelf Registration. If (i) the Company is not required to file an Exchange Offer Registration Statement or to consummate
the Exchange Offer because the Exchange Offer is not permitted by applicable law or Commission policy (after the procedures set forth in Section 6(a) hereof have been complied with), (ii) for any reason the Exchange Offer is not
Consummated on or before the Consummation Target Date (or if the Consummation Target Date is not a Business Day, the next succeeding Business Day), or (iii) with respect to any Holder of Transfer Restricted Securities such Holder notifies the
Company that (A) such Holder is prohibited by applicable law or Commission policy from participating in the Exchange Offer, or (B) such Holder may not resell the Exchange Securities acquired by it in the Exchange Offer to the public
without delivering a prospectus and that the Prospectus contained in the Exchange Offer Registration Statement is not appropriate or available for such resales by such Holder, or (C) such Holder is a Broker-Dealer and holds Initial Securities
acquired directly from the Company or one of its affiliates, then, upon such Holder’s request, the Company and, upon execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the
Guarantors shall 
 (x) use commercially reasonable efforts to cause to be filed a shelf registration statement
pursuant to Rule 415 under the Securities Act, which may be an amendment to the Exchange Offer Registration Statement (in either event, the “Shelf Registration Statement”) as soon as practicable but in any event on or prior
to the Consummation Target Date (or if the Consummation Target Date is not a Business Day, the next succeeding Business Day) (such date being the “Shelf Filing Deadline”), which Shelf Registration Statement shall provide for
resales of all Transfer Restricted Securities the Holders of which shall have provided the information required pursuant to Section 4(b) hereof; and 
 (y) use commercially reasonable efforts to cause such Shelf Registration Statement to be declared effective by the Commission on or before the 90th day after the Shelf Filing Deadline (or if such 90th day
is not a Business Day, the next succeeding Business Day). 
 Each of the Company and, upon execution and delivery of a
Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors shall use its commercially reasonable efforts to keep such Shelf Registration Statement continuously effective, supplemented and amended as
required by the provisions of Sections 6(b) and (c) hereof to the extent necessary to ensure that it is available for resales of Initial Securities by the Holders of Transfer Restricted Securities entitled to the benefit of this
Section 4(a), and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced from time to time, for a period of at least one year (as extended as
the result of the occurrence of any Permitted Shelf Blackout Period) following the effective date of such Shelf Registration Statement (or shorter period that will terminate when all the Initial Securities covered by such Shelf Registration
Statement have been sold pursuant to such Shelf Registration Statement). 

  
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 Notwithstanding anything to the contrary in this Agreement, at any time, the Company may
delay the filing of any Shelf Registration Statement or delay or suspend the effectiveness thereof and shall not be required to maintain the effectiveness thereof or amend or supplement such Shelf Registration Statement, for a period of time not to
exceed an aggregate of 90 days in any twelve-month period, if (1) the Board of Directors of the Company determines, in good faith, that the disclosure in such Shelf Registration Statement of an event, occurrence or other item at such time could
reasonably be expected to have a material adverse effect on the Company’s business, operations or prospects or (2) the disclosure in such Shelf Registration Statement otherwise relates to a material business transaction which has not been
publicly disclosed and the Board of Directors of the Company determines, in good faith, that any such disclosure would jeopardize the success of such transaction or that disclosure of such transaction is prohibited pursuant to the terms thereof
(such period of time, not to exceed 90 days in the aggregate during any twelve-month period, a “Permitted Shelf Blackout Period”) 
 (b) Provision by Holders of Certain Information in Connection with the Shelf Registration Statement. No Holder of Transfer Restricted Securities may include any of its Transfer Restricted
Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such Holder furnishes to the Company in writing, within 20 Business Days after receipt of a request therefor, such information as the Company may reasonably
request for use in connection with any Shelf Registration Statement or Prospectus or preliminary Prospectus included therein. Each Holder as to which any Shelf Registration Statement is being effected agrees to furnish promptly to the Company all
information required to be disclosed in order to make the information previously furnished to the Company by such Holder not materially misleading. 
 SECTION 5. Additional Interest. If (i) any of the Registration Statements required by this Agreement is not filed with the Commission on or prior to the date specified for such filing in this
Agreement, (ii) any of such Registration Statements has not been declared effective by the Commission (or become automatically effective) on or prior to the date specified for such effectiveness in this Agreement, (iii) the Exchange Offer
has not been Consummated by the Consummation Target Date with respect to the Exchange Offer Registration Statement or (iv) any Registration Statement required by this Agreement is filed and declared effective but, at any time prior to the date
which is two and one-half years after the Closing Date (or such earlier date when all the Transfer Restricted Securities covered by such Registration Statement have been sold pursuant to such Registration Statement), shall thereafter cease to be
effective or fail to be usable for its intended purpose without being succeeded by a post-effective amendment to such Registration Statement that cures such failure and that is itself effective, in each case, other than as a result of the occurrence
and continuance of a Permitted Exchange Offer Blackout Period or Permitted Shelf Blackout Period, as applicable (each such event referred to in clauses (i) through (iv), a “Registration Default”), the Company hereby
agrees that the interest rate borne by the Transfer Restricted Securities shall be increased by 0.25% per annum during the 90-day period immediately following the occurrence of any Registration Default and shall increase by 0.25% per annum
at the end of each subsequent 90-day period, but in no event shall such increase exceed 1.00% per annum, in the aggregate (such increases, the “Additional Interest”). Following the cure of all Registration Defaults
relating to any particular Transfer Restricted Securities, the interest rate borne by the relevant Transfer Restricted Securities will be reduced to the original interest rate borne by such Transfer Restricted Securities; provided, however,
that, if after any 

  
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such reduction in interest rate, a different Registration Default occurs, the interest rate borne by the relevant Transfer Restricted Securities shall again be increased pursuant to the foregoing
provisions. Notwithstanding the foregoing, (i) the amount of Additional Interest payable shall not increase because more than one Registration Default has occurred and is pending and (ii) a Holder of Transfer Restricted Securities that is
not entitled to the benefits of the Registration Statement (because, e.g., such Holder has not elected to include information or has not timely delivered such information to the Issuer pursuant to Section 4(b) hereof) shall not be entitled to
Additional Interest with respect to a Registration Default that pertains to the Registration Statement. 
 All obligations of
the Company and the Guarantors set forth in the preceding paragraph that are outstanding with respect to any Transfer Restricted Security at the time such security ceases to be a Transfer Restricted Security shall survive until such time as all such
obligations with respect to such security shall have been satisfied in full. 
 SECTION 6. Registration Procedures.

 (a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the Company and, upon execution and
delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors shall comply with all of the provisions of Section 6(c) hereof, shall use commercially reasonable efforts to effect such
exchange to permit the sale of Transfer Restricted Securities being sold in accordance with the intended method or methods of distribution thereof, and shall comply with the following provision: 

As a condition to its participation in the Exchange Offer pursuant to the terms of this Agreement, each Holder of Transfer
Restricted Securities shall furnish, upon the request of the Company, prior to the Consummation thereof, a written representation to the Company (which may be contained in the letter of transmittal contemplated by the Exchange Offer Registration
Statement) to the effect that (A) it is not an “affiliate” (as defined in Rule 405 of the Securities Act) of the Company or any Guarantor, (B) it is not engaged in, and does not intend to engage in, and has no arrangement or
understanding with any Person to participate in, a distribution (within the meaning of the Securities Act) of the Exchange Securities to be issued in the Exchange Offer and (C) it is acquiring the Exchange Securities in its ordinary course of
business. In addition, all such Holders of Transfer Restricted Securities shall otherwise cooperate in the Company’s preparations for the Exchange Offer. Each Holder hereby acknowledges and agrees that any Broker-Dealer and any such Holder
using the Exchange Offer to participate in a distribution of the securities to be acquired in the Exchange Offer (1) could not under Commission policy as in effect on the date of this Agreement rely on the position of the Commission enunciated
in Morgan Stanley & Co., Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation (available May 13, 1988), as interpreted in the Commission’s letter to Shearman & Sterling dated
July 2, 1993, and similar no-action letters, and (2) must comply with the registration and prospectus delivery requirements of the Securities Act in connection with a secondary resale transaction and that such a secondary resale
transaction should be covered by an effective registration statement containing the selling security holder information required by Item 507 or 508, as applicable, of Regulation S-K if the resales are of Exchange Securities obtained by such
Holder in exchange for Initial Securities acquired by such Holder directly from the Company. 

  
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 (b) Shelf Registration Statement. In connection with the Shelf Registration
Statement, each of the Company and, upon execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, the Guarantors shall comply with all the provisions of Section 6(c) hereof and shall use its
commercially reasonable efforts to effect such registration to permit the sale of the Transfer Restricted Securities being sold in accordance with the intended method or methods of distribution thereof, and pursuant thereto each of the Company and
the Guarantors will as promptly as possible prepare and file with the Commission a Registration Statement relating to the registration on any appropriate form under the Securities Act, which form shall be available for the sale of the Transfer
Restricted Securities in accordance with the intended method or methods of distribution thereof. 
 (c) General Provisions.
In connection with any Registration Statement and any Prospectus required by this Agreement to permit the sale or resale of Transfer Restricted Securities (including, without limitation, any Registration Statement and the related Prospectus
required to permit resales of Initial Securities by Broker-Dealers), each of the Company and, upon execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors shall:

 (i) use its commercially reasonable efforts to keep such Registration Statement continuously effective and
provide all requisite financial statements (including, if required by the Securities Act or any regulation thereunder, financial statements of the Guarantors for the period specified in Section 3 or 4 hereof, as applicable; upon the occurrence
of any event that would cause any such Registration Statement or the Prospectus contained therein (A) to contain a material misstatement or omission or (B) not to be effective and usable for resale of Transfer Restricted Securities during
the period required by this Agreement, the Company shall file promptly an appropriate amendment to such Registration Statement, in the case of clause (A), correcting any such misstatement or omission, and, in the case of either clause (A) or
(B), use its commercially reasonable efforts to cause such amendment to be declared effective and such Registration Statement and the related Prospectus to become usable for their intended purpose(s) as soon as practicable thereafter; 

(ii) use its commercially reasonable efforts to prepare and file with the Commission such amendments and post-effective
amendments to the applicable Registration Statement as may be necessary to keep the Registration Statement effective for the applicable period set forth in Section 3 or 4 hereof, as applicable, or such shorter period as will terminate when all
Transfer Restricted Securities covered by such Registration Statement have been sold; cause the Prospectus to be supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the Securities Act,
and to comply fully with the applicable provisions of Rules 424 and 430A under the Securities Act in a timely manner; and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such Registration
Statement during the applicable period in accordance with the intended method or methods of distribution by the sellers thereof set forth in such Registration Statement or supplement to the Prospectus; 

  
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 (iii) advise the underwriter(s), if any, and selling Holders promptly and,
if requested by such Persons, to confirm such advice in writing, (A) when the Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to any Registration Statement or any post-effective amendment
thereto, when the same has become effective, (B) of any request by the Commission for amendments to the Registration Statement or amendments or supplements to the Prospectus or for additional information relating thereto, (C) of the
issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement under the Securities Act or of the suspension by any state securities commission of the qualification of the Transfer Restricted Securities for
offering or sale in any jurisdiction, or the initiation of any proceeding for any of the preceding purposes, (D) of the existence of any fact or the happening of any event that makes any statement of a material fact made in the Registration
Statement, the Prospectus, any amendment or supplement thereto, any Issuer Free Writing Prospectus, or any document incorporated by reference in any of the foregoing untrue, or that requires the making of any additions to or changes in the
Registration Statement or the Prospectus in order to make the statements therein not misleading. If at any time the Commission shall issue any stop order suspending the effectiveness of the Registration Statement, or any state securities commission
or other regulatory authority shall issue an order suspending the qualification or exemption from qualification of the Transfer Restricted Securities under state securities or blue sky laws, each of the Company and the Guarantors shall use its
commercially reasonable efforts to obtain the withdrawal or lifting of such order at the earliest possible time; 

(iv) furnish without charge to each of the Initial Purchasers, each selling Holder named in any Registration Statement,
and each of the underwriter(s), if any, before filing with the Commission (or in the case of an Issuer Free Writing Prospectus, before making any offer that would constitute an Issuer Free Writing Prospectus), copies of any Registration Statement or
any Prospectus included therein or any amendments or supplements to any such Registration Statement or Prospectus (including all documents incorporated by reference after the initial filing of such Registration Statement) or any Issuer Free Writing
Prospectus, which documents will be subject to the review and comment of such Holders and underwriter(s) in connection with such sale, if any, for a period of at least five Business Days, and the Company will not file any such Registration Statement
or Prospectus or any amendment or supplement to any such Registration Statement or Prospectus (including all such documents incorporated by reference) or make any offer that would constitute an Issuer Free Writing Prospectus, in each case, to which
an Initial Purchaser of Transfer Restricted Securities covered by such Registration Statement or the underwriter(s), if any, shall reasonably object in writing within five Business Days after the receipt thereof (such objection to be deemed timely
made upon confirmation of telecopy transmission within such period) except for any Registration Statement, Prospectus or any amendment or supplement to any such Shelf Registration Statement or Prospectus (a copy of which has been previously
furnished as provided in the preceding sentence) that counsel to the Company has advised the Company that are, 

  
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to such counsel’s knowledge, required to be filed to comply with applicable law. The objection of an Initial Purchaser or underwriter, if any, shall be deemed to be reasonable if such
Registration Statement, amendment, Prospectus, supplement or Issuer Free Writing Prospectus, as applicable, as proposed to be filed, contains a material misstatement or omission or, in the case of an Issuer Free Writing Prospectus, does not meet the
requirements of Rule 433 of the Securities Act; 
 (v) make available, subject to customary confidentiality
agreements, at reasonable times for inspection by the Initial Purchasers, the managing underwriter(s), if any, participating in any disposition pursuant to such Registration Statement and any attorney or accountant retained by such Initial
Purchasers or any of the underwriter(s), customary financial and other records, pertinent corporate documents and properties of each of the Company and the Guarantors and cause the Company’s and the Guarantors’ officers, directors and
employees to supply customary information, in each case, reasonably requested by any such Holder, underwriter, attorney or accountant in connection with such Registration Statement or any post-effective amendment thereto subsequent to the filing
thereof and prior to its effectiveness and to participate in meetings with investors to the extent requested by the managing underwriter(s), if any, in each case at reasonable times and in a reasonable manner; 

(vi) if requested by any selling Holders or the underwriter(s), if any, promptly incorporate in any Registration Statement
or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such selling Holders and underwriter(s), if any, may reasonably request to have included therein, including, without limitation, information
relating to the “Plan of Distribution” of the Transfer Restricted Securities, information with respect to the principal amount of Transfer Restricted Securities being sold to such underwriter(s), the purchase price being paid therefor and
any other terms of the offering of the Transfer Restricted Securities to be sold in such offering; and make all required filings of such Prospectus supplement or post-effective amendment as soon as practicable after the Company is notified of the
matters to be incorporated in such Prospectus supplement or post-effective amendment; 
 (vii) cause the Transfer
Restricted Securities covered by the Registration Statement to be rated with the appropriate rating agencies, if so requested by the Holders of a majority in aggregate principal amount of Securities covered thereby or the underwriter(s), if any;

 (viii) furnish to each Initial Purchaser, each selling Holder and each of the underwriter(s), if any, in each
case that so requests in writing and without charge, at least one copy of the Registration Statement, as first filed with the Commission, and of each amendment thereto, including financial statements and schedules, all documents incorporated by
reference therein and all exhibits (including exhibits incorporated therein by reference); 
 (ix) deliver to
each selling Holder and each of the underwriter(s), if any, without charge, as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Persons reasonably may request; each of

  
 12 

 
the Company and, upon execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors hereby consents to the use of the
Prospectus and any amendment or supplement thereto by each of the selling Holders and each of the underwriter(s), if any, in connection with the offering and the sale of the Transfer Restricted Securities covered by the Prospectus or any amendment
or supplement thereto; 
 (x) enter into such agreements (including an underwriting agreement), and make such
representations and warranties, and take all such other actions in connection therewith in order to expedite or facilitate the disposition of the Transfer Restricted Securities pursuant to any Registration Statement contemplated by this Agreement,
all to such extent as may be requested by any Initial Purchaser or underwriter or pursuant to a written request from Holders of at least 25% in aggregate principal amount of the outstanding Transfer Restricted Securities in each case in connection
with any sale or resale pursuant to any Registration Statement contemplated by this Agreement; and whether or not an underwriting agreement is entered into and whether or not the registration is an Underwritten Registration, each of the Company and,
upon execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors shall: 
 (A) furnish to each Initial Purchaser, each selling Holder and each underwriter, if any, in such substance and scope as they may request and as are customarily made by issuers to underwriter(s) in primary
underwritten offerings, upon the date of the Consummation of the Exchange Offer or, if applicable, the effectiveness of the Shelf Registration Statement: 
 (1) a certificate, dated the date of Consummation of the Exchange Offer or the date of effectiveness of the Shelf Registration Statement, as the case may be, signed by (y) the President or any Vice
President and (z) a principal financial or accounting officer of each of the Company and the Guarantors, confirming, as of the date thereof, the matters set forth in Section 5(g)(B) of the Purchase Agreement and such other matters as such
parties may reasonably request; 
 (2) an opinion, dated the date of Consummation of the Exchange Offer or the
date of effectiveness of the Shelf Registration Statement, as the case may be, of counsel for the Company and the Guarantors, which may cover the matters set forth in the forms of legal opinions and certificate attached to the Purchase Agreement as
Exhibits A-1, A-2 and A-3 thereto or such other matters as such parties may reasonably request, and in any event including a statement to the effect that such counsel has participated in conferences with officers and other representatives of the
Company and the Guarantors, representatives of the independent public accountants for the Company and the Guarantors, representatives of the underwriter(s), if any, and counsel to the underwriter(s), if any, in connection with the preparation of
such Registration Statement and the related Prospectus and have considered the matters required to be stated therein 

  
 13 

 
and the statements contained therein, although such counsel has not independently verified the accuracy, completeness or fairness of such statements; and that such counsel advises that, on the
basis of the foregoing, no facts came to such counsel’s attention that caused such counsel to believe that the applicable Registration Statement, at the time such Registration Statement or any post-effective amendment thereto became effective,
and, in the case of the Exchange Offer Registration Statement, as of the date of Consummation, contained an 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 not misleading, or that the Prospectus contained in such Registration Statement as of its date and, in the case of the opinion dated the date of Consummation of the Exchange Offer, as of the date of Consummation, contained an untrue
statement of a material fact or omitted to state a material fact necessary in order to make the statements therein not misleading. Without limiting the foregoing, such counsel may state further that such counsel assumes no responsibility for, and
has not independently verified, the accuracy, completeness or fairness of the financial statements, notes and schedules and other financial data included in any Registration Statement contemplated by this Agreement or the related Prospectus; and

 (3) a customary comfort letter, dated the date of effectiveness of the Shelf Registration Statement, from the
Company’s independent accountants, in the customary form and covering matters of the type customarily requested to be covered in comfort letters by underwriter(s) in connection with primary underwritten offerings, and covering or affirming the
matters set forth in the comfort letters delivered pursuant to Section 5(a) of the Purchase Agreement, without exception; 
 (B) set forth in full or incorporate by reference in the underwriting agreement, if any, the indemnification provisions and procedures of Section 8 hereof with respect to all parties to be
indemnified pursuant to said Section; and 
 (C) deliver such other documents and certificates as may be
reasonably requested by such parties to evidence compliance with Section 6(c)(x)(A) hereof and with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company or any of the Guarantors
pursuant to this Section 6(c)(x), if any. 
 If at any time the representations and warranties of the
Company and the Guarantors contemplated in Section 6(c)(x)(A)(1) hereof cease to be true and correct, the Company or the Guarantors shall so advise the Initial Purchasers and the underwriter(s), if any, and each selling Holder promptly and, if
requested by such Persons, shall confirm such advice in writing; 

  
 14 

 (xi) prior to any public offering of Transfer Restricted Securities,
cooperate with the selling Holders, the underwriter(s), if any, and their respective counsel in connection with the registration and qualification of the Transfer Restricted Securities under the state securities or blue sky laws of such
jurisdictions as the selling Holders or underwriter(s), if any, may request and do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Transfer Restricted Securities covered by the Shelf
Registration Statement; provided, however, that none of the Company or the Guarantors shall be required to register or qualify as a foreign corporation where it is not then so qualified or to take any action that would subject it to the
service of process in suits or to taxation, other than as to matters and transactions relating to the Registration Statement, in any jurisdiction where it is not then so subject; 

(xii) shall issue, upon the request of any Holder of Initial Securities covered by the Shelf Registration Statement,
Exchange Securities having an aggregate principal amount equal to the aggregate principal amount of Initial Securities surrendered to the Company by such Holder in exchange therefor or being sold by such Holder; such Exchange Securities to be
registered in the name of such Holder or in the name of the purchaser(s) of such Securities, as the case may be; in return, the Initial Securities held by such Holder shall be surrendered to the Company for cancellation; 

(xiii) cooperate with the selling Holders and the underwriter(s), if any, to facilitate the timely preparation and
delivery of certificates representing Transfer Restricted Securities to be sold and not bearing any restrictive legends; and enable such Transfer Restricted Securities to be in such denominations and registered in such names as the Holders or the
underwriter(s), if any, may request at least two Business Days prior to any sale of Transfer Restricted Securities made by such Holders or underwriter(s); 
 (xiv) use its commercially reasonable efforts to cause the Transfer Restricted Securities covered by the Registration Statement to be registered with or approved by such other governmental agencies or
authorities as may be necessary to enable the seller or sellers thereof or the underwriter(s), if any, to consummate the disposition of such Transfer Restricted Securities, subject to the proviso contained in Section 6(c)(xi) hereof;

 (xv) if any fact or event contemplated by Section 6(c)(iii)(D) hereof shall exist or have occurred,
prepare a supplement or post-effective amendment to the Registration Statement or related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered to the purchasers of Transfer
Restricted Securities, the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein not misleading; 

(xvi) provide a CUSIP number for all Securities not later than the effective date of the Registration Statement covering
such Securities and provide the Trustee under the Indenture with printed certificates for such Securities which are in a form eligible for deposit with the Depository Trust Company and take all other action necessary to ensure that all such
Securities are eligible for deposit with the Depository Trust Company; 
 (xvii) cooperate and assist in any
filings required to be made with FINRA and in the performance of any due diligence investigation by any underwriter (including any “qualified independent underwriter”) that is required to be retained in accordance with the rules and
regulations of FINRA; 

  
 15 

 (xviii) otherwise use its commercially reasonable efforts to comply with all
applicable rules and regulations of the Commission, and make generally available to its security holders, as soon as practicable, a consolidated earnings statement meeting the requirements of Rule 158 (which need not be audited) for the twelve-month
period (A) commencing at the end of any fiscal quarter in which Transfer Restricted Securities are sold to underwriter(s) in a firm commitment or best efforts Underwritten Offering or (B) if not sold to underwriter(s) in such an offering,
beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the Registration Statement; and 
 (xix) cause the Indenture to be qualified under the Trust Indenture Act not later than the effective date of the first Registration Statement required by this Agreement, and, in connection therewith,
cooperate with the Trustee and the Holders of Securities to effect such changes to the Indenture as may be required for such Indenture to be so qualified in accordance with the terms of the Trust Indenture Act; and to execute and use its
commercially reasonable efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other forms and documents required to be filed with the Commission to enable such Indenture to be so qualified in a
timely manner. 
 Each Holder agrees by acquisition of a Transfer Restricted Security that, upon receipt of any notice from the
Company of the existence of any fact of the kind described in Section 6(c)(iii)(D) hereof, such Holder will forthwith discontinue disposition of Transfer Restricted Securities pursuant to the applicable Registration Statement until such
Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xv) hereof, or until it is advised in writing (the “Advice”) by the Company that the use of the Prospectus may be
resumed, and has received copies of any additional or supplemental filings that are incorporated by reference in the Prospectus. If so directed by the Company, each Holder will deliver to the Company (at the Company’s expense) all copies, other
than permanent file copies then in such Holder’s possession, of the Prospectus covering such Transfer Restricted Securities that was current at the time of receipt of such notice. In the event the Company shall give any such notice, the time
period regarding the effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as applicable, shall be extended by the number of days during the period from and including the date of the giving of such notice pursuant to
Section 6(c)(iii)(D) hereof to and including the date when each selling Holder covered by such Registration Statement shall have received the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xv) hereof or shall
have received the Advice; provided, however, that no such extension shall be taken into account in determining whether Additional Interest is due pursuant to Section 5 hereof or the amount of such Additional Interest, it being agreed
that the Company’s option to suspend use of a Registration Statement pursuant to this paragraph shall be treated as a Registration Default for purposes of Section 5 hereof. 

  
 16 

 SECTION 7. Registration Expenses. 

(a) All expenses incident to the Company’s and the Guarantors’ performance of or compliance with this Agreement (other than
underwriting discounts or commissions) will be borne by the Company and, upon execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors, jointly and severally, regardless of
whether a Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees and expenses (including filings made by any Initial Purchaser or Holder with FINRA (and, if applicable, the fees and
expenses of any “qualified independent underwriter” and its counsel that may be required by the rules and regulations of FINRA)); (ii) all fees and expenses of compliance with federal securities and state securities or blue sky laws;
(iii) all expenses of printing (including printing certificates for the Exchange Securities to be issued in the Exchange Offer and printing of Prospectuses), messenger and delivery services and telephone; (iv) all fees and disbursements of
counsel for the Company, the Guarantors and, subject to Section 7(b) hereof, of one firm of counsel, plus local counsel, for the Holders of Transfer Restricted Securities; (v) all application and filing fees in connection with listing the
Exchange Securities on a securities exchange or automated quotation system pursuant to the requirements thereof; and (vi) all fees and disbursements of independent certified public accountants of the Company and the Guarantors (including the
expenses of any special audit and comfort letters required by or incident to such performance). 
 Each of the Company and, upon
execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors will, in any event, bear its internal expenses (including, without limitation, all salaries and expenses of its
officers and employees performing legal or accounting duties), the expenses of any annual audit and the fees and expenses of any Person, including special experts, retained by the Company or the Guarantors. 

(b) In connection with any Registration Statement required by this Agreement (including, without limitation, the Exchange Offer
Registration Statement and the Shelf Registration Statement), the Company and, upon execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors, jointly and severally, will
reimburse the Initial Purchasers and the Holders of Transfer Restricted Securities being tendered in the Exchange Offer and/or resold pursuant to the “Plan of Distribution” contained in the Exchange Offer Registration Statement or
registered pursuant to the Shelf Registration Statement, as applicable, for the reasonable fees and disbursements of not more than one counsel, who shall be Cravath, Swaine & Moore LLP or such other counsel as may be chosen by the Holders
of a majority in principal amount of the Transfer Restricted Securities for whose benefit such Registration Statement is being prepared. 
 SECTION 8. Indemnification. 
 (a) The Company and, upon execution and
delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors, jointly and severally, agree to indemnify and hold harmless (i) each Holder and (ii) each Person, if any, who controls
(within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) any Holder (any of the Persons referred to in this clause (ii) being hereinafter referred to as a

  
 17 

 
“controlling person”) and (iii) the respective officers, directors, partners, employees, representatives and agents of any Holder or any controlling person (any Person referred to
in clause (i), (ii) or (iii) may hereinafter be referred to as an “Indemnified Holder”), to the fullest extent lawful, from and against any and all losses, claims, damages, liabilities, judgments, actions and
expenses (including, without limitation, and as incurred, reimbursement of all reasonable costs of investigating, preparing, pursuing, settling, compromising, paying or defending any claim or action, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, including the reasonable fees and expenses of counsel to any Indemnified Holder), joint or several, directly or indirectly caused by, related to, based upon, arising out of or in connection with
any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus (or any amendment or supplement to a Registration Statement or Prospectus), any Issuer Free Writing Prospectus, or any omission
or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages, liabilities or expenses are caused by an untrue statement
or omission or alleged untrue statement or omission that is made in reliance upon and in conformity with information relating to any of the Holders furnished in writing to the Company by any of the Holders expressly for use therein. This indemnity
agreement shall be in addition to any liability which the Company or any of the Guarantors may otherwise have. 
 In case any
action or proceeding (including any governmental or regulatory investigation or proceeding) shall be brought or asserted against any of the Indemnified Holders with respect to which indemnity may be sought against the Company or the Guarantors, such
Indemnified Holder (or the Indemnified Holder controlled by such controlling person) shall promptly notify the Company and the Guarantors in writing; provided, however, that the failure to give such notice shall not relieve any of the Company
or the Guarantors of its obligations pursuant to this Agreement. Such Indemnified Holder shall have the right to employ its own counsel in any such action and the fees and expenses of such counsel shall be paid, as incurred, by the Company and the
Guarantors (regardless of whether it is ultimately determined that an Indemnified Holder is not entitled to indemnification hereunder). The Company and the Guarantors shall not, in connection with any one such action or proceeding or separate but
substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm of attorneys (in addition to
any local counsel) at any time for such Indemnified Holders, which firm shall be designated by the Holders. The Company and the Guarantors shall be liable for any settlement of any such action or proceeding effected with the Company’s and the
Guarantors’ prior written consent, which consent shall not be withheld unreasonably, and each of the Company and the Guarantors agrees to indemnify and hold harmless any Indemnified Holder from and against any loss, claim, damage, liability or
expense by reason of any settlement of any action effected with the written consent of the Company and the Guarantors. The Company and the Guarantors shall not, without the prior written consent of each Indemnified Holder, settle or compromise or
consent to the entry of judgment in or otherwise seek to terminate any pending or threatened action, claim, litigation or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not any Indemnified Holder
is a party thereto), unless such settlement, compromise, consent or termination includes an unconditional release of each Indemnified Holder from all liability arising out of such action, claim, litigation or proceeding. 

  
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 (b) Each Holder of Transfer Restricted Securities agrees, severally and not jointly, to
indemnify and hold harmless (i) the Company, the Guarantors and their respective directors and officers who sign a Registration Statement, and (ii) any Person controlling (within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act) the Company or any of the Guarantors, and the respective officers, directors, partners, employees, representatives and agents of each such Person (any Person referred to in clause (i) or (ii) may
hereinafter be referred to as an “Issuer Indemnified Party”), to the same extent as the foregoing indemnity from the Company and the Guarantors to each of the Indemnified Holders, but only with respect to claims and actions
based on information relating to such Holder furnished in writing by such Holder expressly for use in any Registration Statement. In case any action or proceeding shall be brought against an Issuer Indemnified Party in respect of which indemnity may
be sought against a Holder of Transfer Restricted Securities, such Holder shall have the rights and duties given the Company and the Guarantors, and the Issuer Indemnified Parties shall have the rights and duties given to each Holder by the
preceding paragraph. 
 (c) If the indemnification provided for in this Section 8 is unavailable to an indemnified party
under Section 8(a) or (b) hereof (other than by reason of exceptions provided in those Sections) in respect of any losses, claims, damages, liabilities, judgments, actions or expenses referred to therein, then each applicable indemnifying
party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate to reflect the
relative benefits received by the Company and the Guarantors, on the one hand, and the Holders, on the other hand, from the Initial Placement (which in the case of the Company and the Guarantors shall be deemed to be equal to the total gross
proceeds to the Company and the Guarantors from the Initial Placement), the amount of Additional Interest which did not become payable as a result of the filing of the Registration Statement resulting in such losses, claims, damages, liabilities,
judgments actions or expenses, and such Registration Statement, or if such allocation is not permitted by applicable law, the relative fault of the Company and the Guarantors, on the one hand, and the Indemnified Holders, on the other hand, in
connection with the statements or omissions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative fault of the Company and the Guarantors on the one hand and of
the Indemnified Holders 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 Company or any of the Guarantors, on the one hand, or the Indemnified Holders, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or
omission. The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject to the limitations set forth in the second paragraph of Section 8(a)
hereof, any legal or other fees or expenses reasonably incurred by such party in connection with investigating or defending any action or claim. 
 The Company and, upon execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors and each Holder of Transfer Restricted Securities
agree that it would not be just and equitable if contribution pursuant to this Section 8(c) were determined by pro rata allocation (even if the Holders were treated as one 

  
 19 

 
entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. The amount paid or
payable by an indemnified party as a result of the losses, claims, damages, liabilities or expenses referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other
expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8, none of the Holders (and its related Indemnified Holders) shall be
required to contribute, in the aggregate, any amount in excess of the amount by which the total discount received by such Holder with respect to the Initial Securities exceeds the amount of any damages which such Holder has otherwise been required
to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any
Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(c) are several in proportion to the respective principal amount of Initial Securities held by each of the
Holders hereunder and not joint. 
 SECTION 9. Rule 144A. Each of the Company and, upon execution and delivery of a
Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors hereby agrees with each Holder, for so long as any Transfer Restricted Securities remain outstanding and during any period in which the Company
or such Guarantor is not subject to Section 13 or 15(d) of the Exchange Act, to make available to any Holder or beneficial owner of Transfer Restricted Securities in connection with any sale thereof and any prospective purchaser of such
Transfer Restricted Securities from such Holder or beneficial owner, the information required by Rule 144A(d)(4) under the Securities Act in order to permit resales of such Transfer Restricted Securities pursuant to Rule 144A under the Securities
Act. 
 SECTION 10. Participation in Underwritten Registrations. No Holder may participate in any Underwritten
Registration hereunder unless such Holder (a) agrees to sell such Holder’s Transfer Restricted Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and
(b) completes and executes all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other documents required under the terms of such underwriting arrangements. 

SECTION 11. Selection of Underwriters. The Holders of Transfer Restricted Securities covered by the Shelf Registration Statement
who desire to do so may sell such Transfer Restricted Securities in an Underwritten Offering. In any such Underwritten Offering, the investment banker(s) and managing underwriter(s) that will administer such offering will be selected by the Holders
of a majority in aggregate principal amount of the Transfer Restricted Securities included in such offering; provided, however, that such investment banker(s) and managing underwriter(s) must be reasonably satisfactory to the Company.

 SECTION 12. Miscellaneous.  
 (a) Remedies. Each of the Company and, upon execution and delivery of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors hereby agrees that
monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Agreement and hereby agree to waive the defense in any action for specific performance that a remedy at law would be
adequate. 

  
 20 

 (b) No Inconsistent Agreements. Each of the Company and, upon execution and delivery
of a Counterpart pursuant to Section 12(e) hereof and consummation of the Merger, each of the Guarantors, will not on or after the date of this Agreement or the relevant Counterpart, as applicable, enter into any agreement with respect to its
securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. Neither the Company nor any of the Guarantors has previously entered into any agreement granting any
registration rights with respect to its securities to any Person. The rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of the Company’s or any of the
Guarantors’ securities under any agreement in effect on the date hereof. 
 (c) Adjustments Affecting the Securities.
The Company will not take any action, or permit any change to occur, with respect to the Securities that would materially and adversely affect the ability of the Holders to Consummate any Exchange Offer. 

(d) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents
to or departures from the provisions hereof may not be given unless the Company has (i) in the case of Section 5 hereof and this Section 12(d)(i), obtained the written consent of Holders of all outstanding Transfer Restricted
Securities and (ii) in the case of all other provisions hereof, obtained the written consent of Holders of a majority of the outstanding principal amount of Transfer Restricted Securities (excluding any Transfer Restricted Securities held by
the Company or its Affiliates). Notwithstanding the foregoing, a waiver or consent to departure from the provisions hereof that relates exclusively to the rights of Holders whose securities are being tendered pursuant to the Exchange Offer and that
does not affect directly or indirectly the rights of other Holders whose securities are not being tendered pursuant to such Exchange Offer may be given by the Holders of a majority of the outstanding principal amount of Transfer Restricted
Securities being tendered or registered; provided, however, that, with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the Company shall obtain the written consent of each such Initial
Purchaser with respect to which such amendment, qualification, supplement, waiver, consent or departure is to be effective. 

(e) Guarantor Counterparts to this Agreement. This Agreement shall become effective as to each of the Guarantors, on the
Completion Date, upon execution and delivery of a Counterpart and consummation of the Merger. Upon execution and delivery of a Counterpart pursuant to this Section 12(e), each of the Guarantors agrees to be bound by the terms, conditions and
other provisions of this Agreement as described in the Counterpart, with all rights, duties and obligations stated herein, with the same force and effect as if such party had executed this Agreement on the date hereof. 

(f) Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery,
first-class mail (registered or certified, return receipt requested), telex, telecopier, or air courier guaranteeing overnight delivery: 

  
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 (i) if to a Holder, at the address set forth on the records of the Registrar
under the Indenture, with a copy to the Registrar under the Indenture; and 
 (ii) if to Buccaneer or the Company: 

Buccaneer Merger Sub, Inc. 
 520 Madison Avenue 
 New York, NY 10022 

Facsimile: (202) 347-1692 
 Attention: Mark Johnson 
 Syniverse Holdings, Inc. 

8125 Highwoods Palm Way 
 Tampa, FL 33647 
 Facsimile: (813) 637-5000 

Attention: Laura E. Binion, Esq. 
 With a copy to: 
 Latham & Watkins LLP 

555 Eleventh Street, NW 
 Suite 1000 
 Washington, DC 20004-1304 

Facsimile: (202) 637-2201 
 Attention: Rachel W. Sheridan, Esq. 
 All such notices and communications shall be
deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if telecopied; and
on the next Business Day, if timely delivered to an air courier guaranteeing overnight delivery. 
 Copies of all such notices,
demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee at the address specified in the Indenture. 
 (g) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties, including, without limitation, and without the need
for an express assignment, subsequent Holders of Transfer Restricted Securities; provided, however, that this Agreement shall not inure to the benefit of or be binding upon a successor or assign of a Holder unless and to the extent such
successor or assign acquired Transfer Restricted Securities from such Holder. 
 (h) Counterparts. This Agreement may be
executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an
executed counterpart of a signature page to this Agreement by telecopier, facsimile or other electronic transmission (i.e., a “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart thereof. 

  
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 (i) Headings. The headings in this Agreement are for convenience of reference only
and shall not limit or otherwise affect the meaning hereof. 
 (j) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN SUCH STATE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THEREOF. 

(k) Severability. In the event that any one or more of the provisions contained herein, or the application thereof in any
circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or impaired thereby. 

(l) Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be a
complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to
herein with respect to the registration rights granted by the Company with respect to the Transfer Restricted Securities. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter.

 [remainder of page intentionally blank] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

					
	BUCCANEER MERGER SUB, INC.
		
	By:	 	/s/ Mark Johnson
		 	Name:	 	Mark Johnson
		 	Title:	 	Vice President and Secretary

 Signature Page to the Registration Rights Agreement 

 The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date
first above written: 
 CREDIT SUISSE SECURITIES (USA) LLC 

BARCLAYS CAPITAL INC. 
 GOLDMAN, SACHS & CO. 
  

					
	CREDIT SUISSE SECURITIES (USA) LLC,
		
	by	 	/s/ EDWARD L. NEUBURG
		 	Name:	 	EDWARD L. NEUBURG
		 	Title:	 	Managing Director
	
	BARCLAYS CAPITAL INC.,
		
	by	 	/s/ Timothy S Broadbent
		 	Name:	 	Timothy S Broadbent
		 	Title:	 	Managing Director
	
	GOLDMAN, SACHS & CO.,
		
	by:	 	Goldman, Sachs & Co
		 	(Goldman, Sachs & Co.)

Signature Page to the Registration Rights Agreement 

 Exhibit A 
 [Counterpart to the Registration Rights Agreement] 
 Counterpart to
Registration Rights Agreement 
 The undersigned hereby agrees, effective upon the consummation of the Merger, to be bound
by all of obligations of the “Guarantors” under the Registration Rights Agreement, dated December 22, 2010, between Buccaneer and the Initial Purchasers (each as defined therein). For the avoidance of doubt, such obligations shall
include, but not be limited to, the obligations enumerated in Sections 3, 4, 6, 7, 8, 9 and 12 of the Registration Rights Agreement. 

Dated:                        
                 
  

					
	[GUARANTORS]
		
	by 	 	 
		 	Name:	 	
		 	Title:	 	

 Exhibit AEmployment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS AGREEMENT (the
“Agreement”) is made as of May 3, 2011, among Buccaneer Holdings, Inc., a Delaware corporation (together with any Subsidiaries and Affiliates as may employ Executive from time to time, and any successor(s) thereto, the
“Company”) and Jeffrey Gordon (“Executive”). 
 WHEREAS, the services of Executive and his
managerial and professional experience are of value to the Company; and 
 WHEREAS the Company desires to employ Executive as
its Chief Operating Officer upon the terms and conditions set forth herein. 
 NOW THEREFORE, in consideration of the mutual
covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Employment. The Company shall employ Executive, and Executive hereby accepts employment with the Company,
upon the terms and conditions set forth in this Agreement. The effective date of this Agreement shall be May 3, 2011 (the “Effective Date”). The initial term of employment under this Agreement (the “Initial
Term”) shall be for the period beginning on the Effective Date and ending on the third (3rd) anniversary thereof, unless earlier terminated as provided in Section 4. The employment term hereunder shall be automatically renewed for successive one-year periods (each an
“Extension Term” and together with the Initial Term, the “Employment Period”), unless either party hereto gives written notice of non-renewal to the other no later than ninety (90) days prior to the expiration
of the Initial Term or any Extension Term, as applicable. 
 2. Position and Duties. 

(a) During the Employment Period, Executive shall serve as Chief Operating Officer of the Company, and shall have the normal duties,
responsibilities, functions and authority of such position, subject to the power and authority of the Company’s Board of Directors (the “Board”) and the Company’s Chief Executive Officer to expand or limit such duties,
responsibilities, functions and authority and the power and authority of the Board to overrule actions of officers of the Company; provided that such permitted limitations may, nevertheless, constitute “Good Reason” under Section
8. During the Employment Period, Executive shall render such administrative, financial and other executive and managerial services to the Company and its Affiliates which are consistent with Executive’s position as the Board may from time
to time direct. 
 (b) During the Employment Period, Executive shall report to the Chief Executive Officer of the Company and
shall devote his best efforts and his full business time and attention (except for permitted vacation periods and reasonable periods of illness or other incapacity) to the business and affairs of the Company and its Affiliates. Executive shall
perform his duties, responsibilities and functions to the Company and its Affiliates hereunder to the best of his abilities in a diligent, trustworthy, professional and efficient manner and shall comply with the Company’s and its
Affiliates’ policies and procedures in all material respects. In performing his 

 
duties and exercising his authority under the Agreement, Executive shall develop, support and implement the business and strategic plans approved from time to time by the Board. During the
Employment Period, Executive shall not accept other employment, serve as an officer or director of, or otherwise perform services for compensation for, any other entity without the prior written consent of the Board; provided that Executive
may serve as an officer or director of or otherwise participate in purely educational, welfare, social, religious and civic organizations so long as such activities do not interfere with Executive’s employment hereunder. The Company and
Executive agree that during the Employment Period Executive’s principal location of employment with the Company shall be at the Company’s headquarters in Tampa, Florida. 

3. Compensation and Benefits. 
 (a) During the Employment Period, Executive’s base salary shall be Four Hundred Thousand Dollars ($400,000) per annum (as increased from time to time as provided below, the “Base
Salary”), which salary shall be payable by the Company in regular installments in accordance with the Company’s general payroll practices (in effect from time to time). The Board or the Compensation Committee thereof (either such
entity, the “Compensation Committee”) shall review the Base Salary each year during the Employment Period, and Executive may receive increases (but no decreases) in his Base Salary from time to time, based upon his performance,
subject to approval of the Compensation Committee. In addition, during the Employment Period, Executive shall be entitled to participate in the Company’s employee benefit programs for which other senior executive employees of the Company are
generally eligible. The Company reserves the right to cancel or change the benefit plans and programs it offers to its employees at any time. 
 (b) In addition to Base Salary, Executive will have an opportunity to earn a cash bonus (the “Annual Bonus”) each year during the Employment Period, commencing with calendar year 2011, as
determined by the Compensation Committee, with a target annual bonus equal to seventy percent (70%) of Executive’s Base Salary (the “Target Bonus”) based upon the achievement with respect to any calendar year of
performance objectives as approved by the Compensation Committee (the “Target Bonus Objectives”). The Target Bonus Objectives will be financial and/or other objective targets that the Compensation Committee reasonably believes are
reasonably attainable at the time that they are set. Such bonus amounts, if any, shall be payable within 100 days following the end of each calendar year at such time as other executive officer bonuses are paid and, except as otherwise provided in
Section 4, so long as Executive remains in the employ of the Company on December 31 of such calendar year. 

(c) During the Employment Period, Executive shall be eligible to participate in the 2011 Equity Incentive Plan of Buccaneer Holdings,
Inc., as it may be amended from time to time (the “2011 Equity Plan”), and any successor equity incentive plans, in each case in accordance with the terms thereof. Subject to Executive’s continued employment for the period
beginning on the Effective Date and ending on the date of the consummation of a Change in Control, any equity awards granted to Executive under the 2011 Equity Plan (or any successor thereto) that have not otherwise vested prior to such Change in
Control shall become vested immediately prior to such Change in Control (and subject to the consummation of such Change in Control). 

  
 2 

 (d) During the Employment Period, the Company shall reimburse Executive for all reasonable
business expenses incurred by him in the course of performing his duties and responsibilities under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment and other
business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. The Company shall pay or reimburse Executive’s reasonable and documented attorneys’ fees and disbursements incurred
in connection with the independent legal review of this Agreement, up to a maximum of $5,000. 
 (e) All amounts payable to
Executive as compensation hereunder, including, without limitation, any equity awards issued to Executive, shall be subject to all required and customary withholding by the Company as provided in Section 18 herein. 

4. Termination. 
 (a) Executive’s employment with the Company may be terminated for Cause at any time by resolution approved by no less than a majority of the members of the Board; provided that, to the
extent the underlying reasons for Cause are curable, as determined by the Board in its good faith discretion, no termination for Cause shall be treated as such until the 30th day following the date on which the Company has provided notice to
Executive of the Board’s decision to terminate Executive for Cause (such notice to include reasons for the Board’s decision) and within such 30-day period Executive is provided a reasonable opportunity to address the Board and to cure the
underlying reasons for the Cause termination; provided, further, that the Company reserves the right to require that Executive not report to work or otherwise perform any duties during such 30-day period. Upon such a termination, the
Company shall have no obligation to Executive other than the payment of Executive’s earned and unpaid compensation to the effective date of such termination and as provided in Section 4(g). 

(b) If during the Employment Period, Executive shall become ill, mentally or physically disabled, or otherwise incapacitated so as to be
unable regularly to perform the duties of his position for a period in excess of ninety (90) consecutive days or more than one hundred twenty (120) days in any consecutive twelve (12) month period (“Permanent
Disability”), then the Company shall have the right to terminate Executive’s employment with the Company upon written notice to Executive. In the event of Executive’s death or in the event the Company terminates Executive’s
employment as a result of his Permanent Disability, Executive or Executive’s estate shall be entitled to the benefits that he would have been entitled to receive if Executive’s employment had been terminated by the Company without Cause
pursuant to Section 4(d) (subject to the provisos and conditions set forth therein); provided, however, that, except as provided in Sections 4(d) and (g), the Company shall have no other obligation to Executive or
Executive’s estate pursuant to this Agreement in the event of Executive’s death or in the event that Executive’s employment with the Company is terminated as a result of his Permanent Disability. 

(c) Executive may voluntarily resign from his employment with the Company without Good Reason, provided that Executive shall provide the
Company with thirty (30) days advance written notice (which notice requirement may be waived, in whole or in part, by the Company in its sole discretion) of his intent to terminate. Upon such a termination, the Company shall have no obligation
other than the payment of Executive’s earned but unpaid compensation to the effective date of such termination and as provided in Section 4(g). 

  
 3 

 (d) Executive’s employment with the Company may be terminated at any time by the
Company without Cause. If the Company terminates Executive’s employment without Cause or purportedly for Cause but without complying with the provisions of Section 4(a), the Company shall have the following obligations to Executive
(but excluding any other obligation, except as provided in Section 4(g), to Executive pursuant to this Agreement): 
 (i) The continuation of his Base Salary, as severance, payable in accordance with the Company’s general payroll practices (in effect from time to time) for a period commencing on the date of
termination and ending one year from the date of termination (the “Severance Period”); 
 (ii)
Executive shall be entitled to receive any unpaid Annual Bonus for the previous fiscal year and an amount equal to the Target Bonus (i.e., 70% of his current Base Salary) for the then current fiscal year (regardless of Company performance), such
unpaid Annual Bonus to be paid at such times as it would be payable if Executive’s employment had not been terminated and such amount equal to the Target Bonus for the then current fiscal year to be paid at such times as the Annual Bonus for
the then current fiscal year would be payable had Executive’s employment not terminated; 
 (iii) If
Executive makes a timely election for continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) with respect to the group health plans provided to Executive at the time of such
termination (the “Welfare Plans”), the Company shall pay that portion of the COBRA premium that the Company pays for other senior executive employees with the same coverage for the shorter of (A) twelve (12) months and
(B) the period that Executive is eligible for COBRA continuation coverage; and 
 (iv) With respect to the
stock option granted pursuant to that certain Stock Option Agreement by and between Executive and the Company, dated as of April 6, 2011, granted under the 2011 Equity Plan (the “Option”), notwithstanding anything to the
contrary in the Option Agreement, (A) if such termination of Executive’s employment occurs during (v) the period beginning on the Effective Date and ending on December 30, 2011, twenty percent (20%) of the portion of the
Option subject to time vesting (i.e., 15% of the Option) shall automatically become vested and exercisable; (w) the period beginning on December 31, 2011 and ending on December 30, 2012, forty percent (40%) of the portion of the
Option subject to time vesting (i.e., 30% of the Option) shall automatically become vested and exercisable (to the extent not otherwise then exercisable); (x) the period beginning on December 31, 2012 and ending on December 30, 2013,
seventy percent (70%) of the portion of the Option subject to time vesting (i.e., 52.5% of the Option) shall automatically become vested and exercisable (to the extent not otherwise then exercisable); (y) the period beginning on
December 31, 2013 and ending on December 30, 2014, ninety (90%) of the portion of the Option subject to time vesting (i.e., 67.5% of the Option) shall automatically become vested and exercisable (to the extent not otherwise then
exercisable); and (z) the period beginning on December 31, 2014 and ending on December 30, 2015, one hundred percent (100%) of the portion of the Option subject to time vesting (i.e., 75% of the Option) shall automatically become
vested and exercisable in full, and 

  
 4 

 
(B) the Option shall not expire until the 181st day following the date of termination of Executive’s employment and if such termination occurs within the 180-day period immediately prior to the consummation of a Change in Control, then any
portion of the Option that has not otherwise thereto for become vested and exercisable shall automatically become vested and exercisable as of the date of the Change in Control (subject to the consummation of such Change in Control); 

provided, however, that the continuation of such salary and benefits and any right to acceleration of vesting and exercisability of the Option shall
cease on the occurrence of any circumstance or event that would constitute Cause under Section 8 (including any material breach of the covenants contained in Section 5 or Section 6 below); provided further, that
Executive’s eligibility to participate in the Welfare Plans shall cease at such time as Executive is offered comparable coverage with a subsequent employer. 
 (e) Executive’s employment with the Company may be terminated by Executive for Good Reason on thirty (30) days advance written notice to the Company, which notice shall detail the specific basis
for such termination. The Company shall be given the opportunity to cure the basis for such termination within such thirty (30) day period. If Executive terminates his employment under this Section 4(e), Executive shall be entitled
to receive the same benefits as if his employment had been terminated by the Company without Cause under Section 4(d) (subject to the provisos and conditions set forth therein). 

(f) Executive’s employment with the Company may be terminated due to the Company’s non-renewal of the Agreement pursuant to
Section 1. In the event the Company terminates Executive’s employment as a result of non-renewal of the Agreement, Executive shall be entitled to the benefits that he would have been entitled to receive if Executive’s employment had
been terminated by the Company without Cause pursuant to Section 4(d) (subject to the provisos and conditions set forth therein). 
 (g) Executive acknowledges that any payments and benefits under this Section 4 resulting from a termination of Executive’s employment with the Company are in lieu of any and all claims
that Executive may have against the Company and its Affiliates (other than (i) benefits under the Company’s employee benefit plans that by their terms survive termination of employment, (ii) benefits under COBRA, (iii) rights
with respect to unreimbursed business expenses, if any, pursuant to Section 3(d), (iv) rights to indemnification under certain indemnification arrangements for officers of the Company, and (v) rights with respect to
indemnification and insurance pursuant to Section 24), and represent liquidated damages (and not a penalty). The Company shall require that Executive execute and not revoke a release of claims, substantially in the form attached hereto
as Exhibit A, in accordance with Section 25(c) as a condition to Executive’s receipt of such payments. The Company acknowledges that no such payment shall be reduced by any amount Executive may earn or receive from employment
or other source after a Separation and that Executive shall have no obligation to seek other employment or otherwise to mitigate the Company’s payment obligations. 

  
 5 

 5. Confidential. Information. 

(a) Obligation to Maintain Confidentiality. Executive acknowledges that the information and data obtained by him during the course
of his employment with the Company and/or its Subsidiaries and Affiliates and his performance under this Agreement concerning the business and affairs of the Company and its Subsidiaries and Affiliates, including information concerning acquisition
opportunities in or reasonably related to the Company’s and its Subsidiaries’ or Affiliates’ business or industry of which Executive becomes aware during his employment with the Company and/or its Subsidiaries and Affiliates prior to
the date hereof and during the Employment Period (collectively, “Confidential Information”), are the property of the Company or such Subsidiaries and Affiliates. Therefore, Executive agrees that he will not disclose to any unauthorized
Person or use for his own account any Confidential Information without the Board’s prior written consent. Executive agrees to deliver to the Company at a Separation, or at any other time the Company may request in writing, all memoranda, notes,
plans, records, reports and other documents (and copies thereof) relating to the business of the Company and its Subsidiaries and Affiliates (including, without limitation, all acquisition prospects, lists and contact information) which he may then
possess or have under his control. Notwithstanding the foregoing, the restrictions contained herein shall not apply to any information which Executive can demonstrate by written record (i) was already available to the public, otherwise than by
breach of this Agreement, or (ii) was the subject of a court order for Executive to disclose, provided that Executive shall give the Company prompt notice of any and all such requests for disclosure so that it may take all necessary or
desired action to avoid or limit disclosure. 
 (b) Ownership of Property. Executive acknowledges that all inventions,
innovations, improvements, developments, methods, processes, programs, designs, analyses, drawings, reports, and all similar or related information (whether or not patentable) that relate to the Company’s or any of its Subsidiaries’ or
Affiliates’ actual or anticipated business, research and development, or existing or future products or services and that are conceived, developed, contributed to, made, or reduced to practice by Executive (either solely or jointly with others)
while employed by the Company or any of its Subsidiaries or Affiliates (including any of the foregoing that constitutes any proprietary information or records) (“Work Product”) belong to the Company or such Subsidiary or Affiliate
and Executive hereby assigns, and agrees to assign, all of the above Work Product to the Company or to such Subsidiary or Affiliate. Any copyrightable work prepared in whole or in part by Executive in the course of his work for any of the foregoing
entities shall be deemed a “work made for hire” under the copyright laws, and the Company or such Subsidiary or Affiliate shall own all rights therein. To the extent that any such copyrightable work is not a “work made for hire,”
Executive hereby assigns and agrees to assign to the Company or such Subsidiary or Affiliate all right, title, and interest, including without limitation, copyright in and to such copyrightable work. Executive shall promptly disclose such Work
Product and copyrightable work to the Board and perform all actions reasonably requested by the Board (whether during or after the Employment Period) to establish and confirm the Company’s or such Subsidiary’s or Affiliate’s ownership
(including, without limitation, assignments, consents, powers of attorney, and other instruments). 

  
 6 

 (c) Third Party Information. Executive understands that the Company and its
Subsidiaries and Affiliates will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s and its Subsidiaries’ and Affiliates’ part to maintain
the confidentiality of such information and to use it only for certain limited purposes. During the Employment Period and thereafter, and without in any way limiting the provisions of Section 5(a) above, Executive will hold Third Party
Information in the strictest confidence and will not disclose to anyone (other than personnel of the Company or its Subsidiaries or Affiliates who need to know such information in connection with their work for the Company or its Subsidiaries or
Affiliates) or use, except in connection with his work for the Company or its Subsidiaries or Affiliates, Third Party Information unless expressly authorized by a member of the Board in writing or required by applicable law or by judicial,
legislative or regulatory process, 
 (d) Use of Information of Prior Employers. During the Employment Period, Executive
will not improperly use or disclose any confidential information or trade secrets, if any, of any former employers or any other Person to whom Executive has an obligation of confidentiality, and will not bring onto the premises of the Company or any
of its Subsidiaries or Affiliates any unpublished documents or any property belonging to any former employer or any other Person to whom Executive has an obligation of confidentiality unless consented to in writing by the former employer or Person,
Executive will use in the performance of his duties only information which is (i) generally known and used by Persons with training and experience comparable to Executive’s and that is (x) common knowledge in the industry or
(y) otherwise legally in the public domain, (ii) otherwise provided or developed by the Company or any of its Subsidiaries or Affiliates or (iii) in the case of materials, property or information belonging to any former employer or
other Person to whom Executive has an obligation of confidentiality, approved for such use in writing by such former employer or Person, 
 6. Non-Compete, Non-Solicitation. Executive acknowledges that in the course of his employment with the Company he will become familiar with the Company’s and its Subsidiaries’ and
Affiliates’ trade secrets and with other confidential information concerning the Company and such Subsidiaries and Affiliates and that his services will be of special, unique and extraordinary value to the Company and such Subsidiaries and
Affiliates, Therefore, Executive agrees that: 
 (a) Noncompetition. During the Employment Period for a period of one
year thereafter (the “Noncompete Period”), he shall not, anywhere in the world, directly or indirectly own, manage, control, participate in, consult with, render services for, or in any manner engage in (A) any business
relating to the provision of wireless connectivity and interoperability solutions, including roaming data clearinghouse and financial settlement services, SMS and MMS messaging, and wireless voice and data software and network services, to wireless
carriers, (B) any other type of business in which the Company or one of its Affiliates is also engaged, or plans to be engaged, so long as Executive is involved in such business or planned business on behalf of the Company or one of its
Affiliates, or (C) any business in which the Company or any of its Subsidiaries or Affiliates has entertained discussions or has requested and received information relating to the acquisition of such business by the Company or its Subsidiaries
or Affiliates during the six-month period immediately prior to a Separation; provided, however, that Executive may own up to 2% of any class of an issuer’s publicly traded securities. 

  
 7 

 (b) Nonsolicitation. During the Noncompete Period, Executive shall not directly or
indirectly through another entity (i) induce or attempt to induce any employee of the Company or its Subsidiaries or Affiliates to leave the employ of the Company or such Subsidiary or Affiliate, or in any way interfere with the relationship
between the Company and any of its Subsidiaries or Affiliates and any employee thereof, (ii) hire any person who was an employee of the Company or any of its Subsidiaries or Affiliates within one year prior to the time such employee was hired
by Executive, (iii) induce or attempt to induce any customer, supplier, licensee or other business relation of the Company or any of its Subsidiaries or Affiliates to cease doing business with the Company or such Subsidiary or Affiliate or in
any way interfere with the relationship between any such customer, supplier, licensee or business relation and the Company and any Subsidiary or Affiliate or (iv) directly or indirectly acquire or attempt to acquire an interest in any business
relating to the business of the Company or any of its Subsidiaries or Affiliates and with which the Company and any of its Subsidiaries and Affiliates has, in the two-year period immediately preceding a Separation, entertained discussions or has
requested and received information relating to the acquisition of such business by the Company or any of its Subsidiaries or Affiliates. 
 (c) Non-disparagement. During the Employment Period and thereafter, (i) Executive agrees that he shall not make, or cause or assist any other person to make, any statement or other
communication to any third party which impugns or attacks, or is otherwise critical of, in any material respect, the reputation, business or character of the Company, any of its Affiliates or any of their respective directors, officers or employees
(collectively, “Company Persons”) and (ii) the Company agrees that it shall instruct its officers and directors not to make, or cause or assist any other person to make, any statement or other communication to any third party
which impugns or attacks, or is otherwise critical of, in any material respect, the reputation, business or character of Executive; provided that neither party shall be required to make any untruthful statement or to violate any law; and
provided, further, that either party may make any truthful statement or communication to any third party which clarifies or corrects any statement or other communication by or on behalf of the other party, or, in the case of the
Company, any Company Person, which impugns or attacks, or is otherwise critical of, in any material respect, the reputation, business or character of either party or any Company Person. 

(d) Extension of Noncompete Period. The Noncompete Period shall be extended by the length of any period during which Executive is
in breach of the terms of this Section 6. 
 (e) Enforcement. If, at the time of enforcement of
Section 5 or this Section 6, a court holds that the restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum duration, scope or geographical area reasonable under
such circumstances shall be substituted for the stated period, scope or area and that the court shall be allowed to revise the restrictions contained herein to cover the maximum duration, scope and area permitted by law. Because Executive’s
services are unique and because Executive has access to confidential information, the parties hereto agree that money damages would be an inadequate remedy for any breach of this Agreement. Therefore, in the event a breach or threatened breach of
this Agreement, the Company, its Subsidiaries or Affiliates or their successors or assigns may, in addition to other rights and remedies existing in their favor, apply to any court of competent jurisdiction for specific performance and/or injunctive
or other relief in order to enforce, or prevent any violations of, the provisions hereof (without posting a bond or other security). 

  
 8 

 (f) Additional Acknowledgments. Executive acknowledges that the provisions of this
Section 6 are in consideration of (i) employment with the Company and (ii) additional good and valuable consideration as set forth in this Agreement. In addition, Executive agrees and acknowledges that the restrictions
contained in Section 5 and this Section 6 do not preclude Executive from earning a livelihood, nor do they unreasonably impose limitations on Executive’s ability to earn a living. In addition, Executive acknowledges
(A) that the business of the Company and its Subsidiaries and Affiliates will be international in scope and without geographical limitation, (B) notwithstanding the state of incorporation or principal office of the Company or any of its
Subsidiaries or Affiliates, or any of their respective executives or employees (including Executive), it is expected that the Company will have business activities and have valuable business relationships within its industry throughout the world,
and (C) as part of his responsibilities, Executive will be traveling in furtherance of the Company’s business and its relationships. Executive agrees and acknowledges that the potential harm to the Company and its Subsidiaries and
Affiliates of the nonenforcement of Section 5 and this Section 6 outweighs any potential harm to Executive of its enforcement by injunction or otherwise. Executive acknowledges that he has carefully read this Agreement and
has given careful consideration to the restraints imposed upon Executive by this Agreement, and is in full accord as to their necessity for the reasonable and proper protection of confidential and proprietary information of the Company now existing
or to be developed in the future. Executive expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable with respect to subject matter, time period and geographical area. 

7. Executive’s Representations. Executive hereby represents and warrants to the Company that (a) the execution, delivery
and performance of this Agreement by Executive do not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which he is bound, (b) Executive is
not a party to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or entity and (c) upon the execution and delivery of this Agreement by the Company, this Agreement shall be the valid
and binding obligation of Executive, enforceable in accordance with its terms. Executive hereby acknowledges and represents that he has had the opportunity to consult with independent legal counsel regarding his rights and obligations under this
Agreement and that he fully understands the terms and conditions contained herein. 
 8. Definitions. 

“Affiliate” means, (a) with respect to any Person, any Person that controls, is controlled by or is under common
control with such Person or an Affiliate of such Person, and (b) with respect to any Investor, any general or limited partner of such Investor, any employee or owner of any such partner, or any other Person controlling, controlled by or under
common control with such Investor; provided that, with respect to the Company, “Affiliate” shall not include any Person who would not be an Affiliate of the Company but for such Person’s relationship to an Investor. 

  
 9 

 “Cause” shall mean (a) the commission of a felony or a crime involving
moral turpitude or the commission of fraud with respect to the Company or any of its Subsidiaries or any of their customers or suppliers, (b) grossly negligent or willful conduct, including any act or omission involving dishonesty, tending to
bring the Company or any of its Subsidiaries into substantial public disgrace or disrepute, (e) substantial and repeated failure (other than any such failure resulting from Executive’s illness, disability or incapacity) to perform the
material duties of the office held by Executive as reasonably directed by the Board, provided that a failure to attain financial, strategic or other objectives is not, in and of itself, a failure to perform material duties, (d) gross negligence
or willful misconduct in connection with Executive’s employment with the Company that causes material harm to the Company or any of its Subsidiaries, provided that conduct is not “willful” if taken in good faith and with a
reasonable belief that such conduct was in the best interests of the Company, or (e) any material breach of Sections 5, 6 or 7 or the first, second (with respect to compliance with the Company’s and its Affiliates’
policies and procedures) and fourth sentences of Section 2(b). 
 “Change in Control” means any
transaction or series of transactions pursuant to which any Person or group of related Persons other than the Investors in the aggregate acquire(s) (i) beneficial ownership (within the meaning of Rule 13d-3 under the Securities Exchange Act of
1934, as amended) of equity securities of the Company possessing the voting power (other than voting rights accruing only in the event of a default, breach or event of noncompliance that has not yet occurred) to elect a majority of the Board
(whether by merger, consolidation, reorganization, combination, sale or transfer of the Company’s equity, securityholder or voting agreement, proxy, power of attorney or otherwise) or (ii) all or substantially all of the Company’s
assets determined on a consolidated basis; provided that a Public Offering shall not constitute a Change in Control; provided, further, that any transaction or series of transactions shall only constitute a Change in Control if such transaction or
series of transactions constitutes a “change in control event” within the meaning of Section 409A of the Code (as defined below). 
 “Good Reason” means, subject to Section 25(f), without Executive’s prior written consent, (a) requiring Executive to relocate his office outside of the
Company’s headquarters or outside of a 50-mile radius from Tampa, Florida (it being understood that Executive shall be required to travel to the extent necessary to meet the needs of the Company and its business); (b) Executive is assigned
duties which, in the aggregate, represent a material reduction of his responsibilities as described by Section 2(a) or Executive’s title as Chief Operating Officer is materially adversely changed; (c) the Company reduces the Base
Salary or Target Bonus as in effect on the date hereof or as the same may be increased from time to time; (d) any material reduction of the non-cash and non-equity benefits provided to Executive pursuant to Section 3, other than in
connection with a reduction in benefits generally applicable to senior executives of the Company; or (e) in connection with any Change in Control prior to the initial Public Offering of the Company or any of its Subsidiaries, the acquiring
Persons (or an Affiliate thereof) do not assume this Agreement (or substitute an agreement with terms and conditions substantially identical to (or more favorable than) the terms and conditions of this Agreement). 

“Investors” means Carlyle Partners V, L.P., a Delaware limited partnership, Carlyle Partners V-A, L.P., a Delaware
limited partnership, CP V Coinvestment A, L.P., a Delaware limited partnership, CP V Coinvestment B, L.P., a Delaware limited partnership, and Syniverse Coinvestment L.P., a Delaware limited partnership, and their respective Affiliates. 

  
 10 

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

 “Public Offering” means the sale in an underwritten public offering registered under the Securities Act of
1933, as amended, of equity securities of the Company or a corporate successor to the Company. 
 “Separation”
means the occurrence of any termination event as outlined in Sections 4(a), (b), (c), (d) or (e). 
 “Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership, association, or business entity of which (i) if a corporation, a majority of
the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person
or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited liability company, partnership, association, or other business entity (other than a corporation), a majority of partnership or other similar
ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority
ownership interest in a limited liability company, partnership, association, or other business entity (other than a corporation) if such Person or Persons shall be allocated a majority of limited liability company, partnership, association, or other
business entity gains or losses or shall be or control any managing director or general partner of such limited liability company, partnership, association, or other business entity. For purposes hereof, references to a “Subsidiary” of any
Person shall be given effect only at such times that such Person has one or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary” refers to a Subsidiary of the Company. 

9. Survival. Sections 4 through 25, inclusive, shall survive and continue in full force in accordance with their
terms notwithstanding the expiration or termination of the Employment Period. 
 10. Notices. Any notice provided for in
this Agreement shall be in writing and shall be either personally delivered, sent by reputable overnight courier service or mailed by first class mail, return receipt requested, to the recipient at the address below indicated: 

Notices to Executive: 
 To the address specified in the personnel files of the Company 
 Notices to the
Company: 
 Buccaneer Holdings, Inc. 
 c/o The Carlyie Group 
 520 Madison Avenue 

New York, NY 10022 
 Attention: James A. Attwood, Jr. 

  
 11 

 and 
 Latham & Watkins LLP 
 885 Third Avenue 

New York, New York 10022 
 Attention: Ted Sonnenschein 
 Bradd L. Williamson 

or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party.
Any notice under this Agreement shall be deemed to have been given when so delivered, sent or mailed. 
 11.
Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in
any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement or any action in any other jurisdiction, but this Agreement shall be reformed,
construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 
 12. Complete Agreement. This Agreement embodies the complete agreement and understanding among the parties 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 (including, without limitation, that certain Employment Agreement by and among Syniverse Technologies, Inc., Syniverse Holdings, Inc. and Executive,
dated January 14, 2008, and that certain Amendment No. 1 to the Employment Agreement with Jeffrey Gordon by and among Syniverse Technologies, Inc., Syniverse Holdings, Inc. and Executive, dated December 30, 2008). 

13. No Strict Construction. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to
express their mutual intent, and no rule of strict construction shall be applied against any party. 
 14. Counterparts.
This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 
 15. Successors and Assigns; No Third Party Beneficiaries. This Agreement is intended to bind and inure to the benefit of and be enforceable by Executive, the Company and their respective heirs,
successors and assigns, except that Executive may not assign his rights or delegate his duties or obligations hereunder without the prior written consent of the Company. This Agreement shall not confer any rights or remedies upon any person other
than Executive, the Company, the Company’s Affiliates and their respective heirs, successors and permitted assigns. 

  
 12 

 16. Choice of Law. ALL ISSUES AND QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY,
ENFORCEMENT AND INTERPRETATION OF THIS AGREEMENT AND THE EXHIBITS AND SCHEDULES HERETO SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICT OF LAW RULES OR
PROVISIONS (WHETHER OF THE STATE OF FLORIDA OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE. 
 17. Amendment and Waiver. The provisions of this Agreement may be amended or waived only with the prior written consent of the Company (as approved by the Board) and Executive, and no course of
conduct or course of dealing or failure or delay by any party hereto in enforcing or exercising any of the provisions of this Agreement (including, without limitation, the Company’s right to terminate the Employment Period for Cause) shall
affect the validity, binding effect or enforceability of this Agreement or be deemed to be an implied waiver of any provision of this Agreement. 
 18. Indemnification and Reimbursement of Payments on Behalf of Executive. The Company and its Affiliates shall be entitled to deduct or withhold from any amounts owing from the Company or any of
its Affiliates to Executive any federal, state, local or foreign withholding taxes, excise tax, or employment taxes (“Taxes”) imposed with respect to Executive’s compensation or other payments from the Company or any of its Affiliates
or Executive’s ownership interest in the Company (including, without limitation, wages, bonuses, dividends, the receipt or exercise of equity options and/or the receipt or vesting of restricted equity). In the event the Company or any of its
Affiliates does not make such deductions or withholdings, Executive shall indemnify the Company and its Affiliates for any amounts paid with respect to any such Taxes, together with any interest, penalties and related expenses thereto. 

19. Consent to Jurisdiction. Each of the parties irrevocably submits to the non-exclusive jurisdiction of the United States
District Court for the Middle District of Florida, Tampa Division located in Tampa, Florida, for the purposes of any suit, action or other proceeding arising out of this Agreement, any related agreement or any transaction contemplated hereby or
thereby. Each of the parties hereto further agrees that service of any process, summons, notice or document by U.S. registered mail to such party’s respective address set forth above shall be effective service of process for any action, suit or
proceeding in such court with respect to any matters to which it has submitted to jurisdiction in this Section 19. Each of the parties hereto irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or
proceeding arising out of this Agreement, any related document or the transactions contemplated hereby and thereby in the United States District Court for the Middle District of Florida, Tampa Division located in Tampa, Florida, and hereby and
thereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. 

20. Waiver of Jury Trial. As a specifically bargained for inducement for each of the parties hereto to enter into this Agreement
(after having the opportunity to consult with counsel), each party hereto expressly waives the right to trial by jury in any lawsuit or proceeding relating to or arising in any way from this Agreement or the matters contemplated hereby. 

  
 13 

 21. Corporate Opportunity. During the Employment Period, Executive shall submit to
the Board all business, commercial and investment opportunities or offers presented to Executive or of which Executive becomes aware which relate to any lines of business that the Company or its Affiliates derive more than $50,000 annually of their
revenue from or with respect to which the Company and its Affiliates have made a significant investment (“Corporate Opportunities”). Unless approved by the Board, Executive shall not accept or pursue, directly or indirectly, any Corporate
Opportunities on Executive’s own behalf or on behalf of another person or entity in or with respect to whom Executive has any economic interest. 
 22. Executive’s Cooperation. During the Employment Period and for a period of two years thereafter, Executive shall cooperate with the Company and its Affiliates in any internal investigation,
any administrative, regulatory or judicial investigation or proceeding or any dispute with a third party as reasonably requested by the Company (including, without limitation, Executive being available to the Company upon reasonable notice for
interviews and factual investigations, appearing at the Company’s request to give testimony without requiring service of a subpoena or other legal process, volunteering to the Company all pertinent information and turning over to the Company
all relevant documents which are or may come into Executive’s possession, all at times and on schedules that are reasonably consistent with Executive’s other permitted activities and commitments). In the event the Company requires
Executive’s cooperation in accordance with this Section, the Company shall reimburse Executive solely for reasonable travel expenses (including lodging and meals) upon submission of receipts. 

23. Interpretation. Unless the context otherwise requires, references in this Agreement to Sections are to Sections of this
Agreement. 
 24. Indemnification and Insurance. The Company shall indemnify Executive to the fullest extent permitted by
their respective Certificates of Incorporation and By-Laws and the General Corporation Law of the State of Delaware. Executive shall be entitled to indemnification and advancement of expenses on terms no less favorable than those provided to any
other officer or director of the Company. The Company shall maintain officers’ and directors’ liability insurance coverage for Executive while he is employed by the Company and, at all times thereafter for the duration of any period of
limitations during which any action may be brought against Executive, in such amounts and to the same extent as the Company covers any other officer or director of the Company. 

25. Provisions Relating to Section 409A of the Code. 
 (a) General. This Agreement shall be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided in a manner that is either exempt from or
compliant with the requirements Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and applicable Internal Revenue Service guidance and Treasury Regulations issued thereunder (and any applicable
transition relief under Section 409A of the Code) (“Section 409A”). Nevertheless, the tax treatment of the amounts or benefits provided under the Agreement is not warranted or guaranteed. Neither the Company nor its directors,
officers, employees or advisers shall be held liable for any taxes, interest, penalties or other monetary amounts owed by Executive as a result of the application of Section 409A. 

  
 14 

 (b) Separation from Service. Notwithstanding anything in this Agreement to the
contrary, as required by Section 409A, the severance payments under Section 4(d)(i) and 4(d)(ii), whether payable by reason of Sections 4(b), (d), (e) or (f), and any other amount or benefit
that would otherwise be payable or distributable hereunder by reason of Executive’s termination of employment (collectively, the “Termination Benefits”), will not be payable or distributable to Executive unless the
circumstances giving rise to such termination of employment meet any description or definition of “separation from service” in Section 409A (without giving effect to any elective provisions that may be available under such
definition). This provision does not prohibit the vesting of any amount upon Executive’s termination of employment or the determination of the amounts owed to him due to such termination. If this provision prevents the payment or
distribution of any amount or benefit, such payment or distribution shall be made on the date, if any, on which an event occurs that constitutes a Section 409A-compliant “separation from service,” or such later date as may be required
by Section 4(g) herein. 
 (c) Timing of Waiver and Release of Claims. Whenever in this
Agreement the provision of payment or benefit is conditioned on Executive’s execution and non-revocation of a waiver and release of claims, such waiver and release must be executed, and all revocation periods must have expired, within 60 days
after the date of termination of Executive’s employment, but the Company may elect to commence payment at any time during such 60-day period. Notwithstanding the foregoing, in any case where the date of termination of employment and the
60th day following the date of termination of employment
fall in two separate taxable years, any payments required to be made to Executive that are conditioned on the waiver and release of claims and are treated as nonqualified deferred compensation for purposes of Section 409A shall be made in the
later taxable year. 
 (d) Timing of Reimbursements and In-kind Benefits. If Executive is entitled to be paid or
reimbursed for any taxable expenses under this Agreement, including but not limited to Section 3(d) and Section 22, and such payments or reimbursements are includible in Executive’s federal gross taxable income, the
amount of such expenses reimbursable in any one calendar year shall not affect the amount reimbursable in any other calendar year, and the reimbursement of an eligible expense must be made no later than December 31 of the year after the year in
which the expense was incurred. No right of Executive to reimbursement of such expenses shall be subject to liquidation or exchange for another benefit. Any reimbursement shall be for expenses incurred during Executive’s lifetime (or during a
shorter period of time specified in this Agreement). 
 (e) Treatment of Installment Payments. Each installment payment
of severance benefits shall be considered a separate payment, as described in Treas. Reg. Section 1.409A- 2(b)(2), for purposes of Section 409A. 
 (f) Notice and Cure. Notwithstanding anything to the contrary herein, any termination of Executive’s employment by Executive shall not constitute a termination for Good Reason unless
(i) Executive has provided written notice to the Company of the existence of the condition constituting “Good Reason” within ninety (90) days of the initial existence of such condition, (ii) the Company has failed to remedy
such condition within thirty (30) days of receiving written notice thereof, and (iii) such termination occurs within two years of the initial existence of such condition. 

  
 15 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above. 
  

			
	Buccaneer Holdings, Inc.
		
	By:	 	/s/ James A. Attwood, Jr.
		 	James A. Attwood, Jr.
	Its:	 	Chairman of the Board

  

			
	Executive
		
	By:	 	/s/ Jeffrey Gordon
		 	Jeffrey Gordon

 Signature Page for Employment Agreement for Jeffrey Gordon 

 EXHIBIT A 
 Release of Claims 

 WAIVER AND RELEASE OF CLAIMS AGREEMENT 

In exchange for the payments and benefits described in that certain Employment Agreement (the “Employment Agreement”),
entered into between myself and Buccaneer Holdings, Inc., a Delaware corporation (together with any Subsidiaries and Affiliates as may employ me from time to time, and any successor(s) thereto, the “Company”), dated May 3,
2011, I freely and voluntarily agree to enter into and be bound by this Waiver and Release of Claims Agreement (the “Release”): 
 1. I acknowledge that the Company delivered this Release to me on
[                            ]. 

2. I acknowledge that, but for my execution of this Release, I would not be entitled to receive the payments and benefits set forth in
the Employment Agreement. 
 3. I, and anyone claiming through me (including without limitation my heirs, and agents,
representatives and assigns), hereby irrevocably waive and forever release and discharge the Company, its parents, subsidiaries, affiliates, officers, directors, employees, agents, predecessors, successors and assigns (including, without limitation,
Carlyle Partners V, L.P., Carlyle Partners V-A, L.P., CP V Coinvestment A, L.P., CP V Coinvestment B, L.P., Syniverse Coinvestment L.P., and their respective affiliates) (the “Releasees”), from any and all liabilities of any nature
whatsoever, known and unknown, fixed or contingent, arising out of, based on, or related to my employment by the Company or any other Releasee, the termination of such employment, and any dealings, transactions or events involving the Releasees
occurring prior to or on the date I sign this Release, including but not limited to claims under the Civil Rights Act of 1866; the Civil Rights Act of 1871; the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act of 1967
(the “ADEA”); the Older Workers Benefit Protection Act of 1990; the Americans with Disabilities Act of 1990; the Employment Retirement Income Security Act of 1974; the Rehabilitation Act of 1973; the Family and Medical Leave Act;
the Worker Adjustment and Retraining Notification Act; and any other federal, state or local law, rule or regulation, or common law claim. This includes, but is not limited to, all wrongful termination and “constructive discharge” claims,
all discrimination claims, all claims relating to any contracts of employment, whether express or implied, any covenant of good faith and fair dealing, whether express or implied, and any tort of any nature. This release is for any relief, no matter
how denominated, including but not limited to wages, back pay, front pay, benefits, compensatory damages, liquidated damages, punitive damages or attorney’s fees. I also agree not to commence or cooperate in the prosecution or investigation of
any lawsuit, administrative action or other claim or complaint against the Releasees, except as required by law. This Release does not include any claims for breach by the Company of its obligations under Section 4 of the Employment Agreement.

 4. By this Release, I not only release and discharge the Releasees from any and all claims as stated above, but also those
claims that might be made by any other person or organization on my behalf and I specifically waive any right to recover any damage awards as a member of any class in a case in which any claims against the Releasees are made involving any matters
arising out of my employment by or termination of employment with the Company, or any of my dealings, transactions or events involving the Releasees occurring prior to or on the date I sign this Release. 

5. I understand and agree that this Release will be binding on me and my heirs, administrators and assigns. I acknowledge that I have not
assigned any claims or filed or initiated any legal proceedings against any of the Releasees. 

 6. I UNDERSTAND THAT I HAVE TWENTY-ONE (21) DAYS (OR, IN THE EVENT MY TERMINATION OF
EMPLOYMENT IS “IN CONNECTION WITH AN EXIT INCENTIVE OR OTHER EMPLOYMENT TERMINATION PROGRAM” (AS SUCH PHRASE IS DEFINED IN THE ADEA), FORTY-FIVE (45) DAYS) (THE APPLICABLE TIME PERIOD, THE “CONSIDERATION PERIOD”) TO CONSIDER
WHETHER OR NOT TO SIGN THIS RELEASE. I ACKNOWLEDGE AND AGREE THAT THE CONSIDERATION PERIOD WILL NOT BE AFFECTED OR EXTENDED BY ANY CHANGES, WHETHER OR NOT MATERIAL, THAT MIGHT BE MADE TO THIS RELEASE. THE COMPANY HEREBY ADVISES ME OF MY RIGHT TO
CONSULT WITH AN ATTORNEY BEFORE SIGNING THE RELEASE AND I ACKNOWLEDGE THAT I HAVE HAD AN OPPORTUNITY TO CONSULT WITH AN ATTORNEY AND HAVE EITHER HELD SUCH CONSULTATION OR HAVE DETERMINED NOT TO CONSULT WITH AN ATTORNEY. 

7. I UNDERSTAND THAT I MAY REVOKE MY ACCEPTANCE OF THIS RELEASE BY DELIVERING WRITTEN NOTICE OF MY REVOCATION TO
[                            ] OF THE COMPANY WITHIN THE SEVEN (7) DAY PERIOD BEGINNING ON THE
DAY FOLLOWING THE DAY I SIGN THE RELEASE (THE “REVOCATION PERIOD”). IF I DO NOT REVOKE MY ACCEPTANCE OF THIS RELEASE WITHIN THE REVOCATION PERIOD, IT WILL BE LEGALLY BINDING AND ENFORCEABLE ON THE DAY IMMEDIATELY FOLLOWING THE LAST DAY OF
THE REVOCATION PERIOD. 
 8. I acknowledge and agree that if any provision of this Release is found, held or deemed by a
court of competent jurisdiction to be void, unlawful or unenforceable under any applicable statute or controlling law, the remainder of this Release shall continue in full force and effect. 

9. This Release is deemed made and entered into in the State of Delaware, and in all respects shall be interpreted, enforced and governed
under the internal laws of the State of Delaware, to the extent not preempted by federal law. 
 * * * * * 

I acknowledge and agree that this Release is a legally binding document and my signature will commit me to its terms. I acknowledge and
agree that I have carefully read and fully understand all of the provisions of this Release and that I voluntarily enter into this Release by signing below. Upon execution, I agree to deliver a signed copy of this Release to
[                            ] of the Company. 

 

	
	
	  
	[Executive]
	
	
	Date: ____________________________________

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