Document:

Exhibit

Exhibit 10.32

DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT
This Director and Officer Indemnification Agreement, dated as of _______ ___, 2014 (this “Agreement”), is made by and between NII Holdings, Inc., a Delaware corporation (the “Company”), and ____________ (“Indemnitee”).
RECITALS:
A.    Section 141 of the Delaware General Corporation Law provides that the business and affairs of a corporation shall be managed by or under the direction of its board of directors.
B.    Pursuant to Sections 141 and 142 of the Delaware General Corporation Law, significant authority with respect to the management of the Company has been delegated to the officers of the Company.
C.    By virtue of the managerial prerogatives vested in the directors and officers of a Delaware corporation, directors and officers act as fiduciaries of the corporation and its stockholders.
D.    Thus, it is critically important to the Company and its stockholders that the Company be able to attract and retain the most capable persons reasonably available to serve as directors and officers of the Company.
E.    In recognition of the need for corporations to be able to induce capable and responsible persons to accept positions in corporate management, Delaware law authorizes (and in some instances requires) corporations to indemnify their directors and officers, and further authorizes corporations to purchase and maintain insurance for the benefit of their directors and officers.
F.    The Delaware courts have recognized that indemnification by a corporation serves the dual policies of (1) allowing corporate officials to resist unjustified lawsuits, secure in the knowledge that, if vindicated, the corporation will bear the expense of litigation and (2) encouraging capable women and men to serve as corporate directors and officers, secure in the knowledge that the corporation will absorb the costs of defending their honesty and integrity.
G.     Delaware law also authorizes a corporation to pay in advance of the final disposition of an action, suit or proceeding the expenses incurred by a director or officer in the defense thereof, and any such right to the advancement of expenses may be made separate and distinct from any right to indemnification and need not be subject to the satisfaction of any standard of conduct or otherwise affected by the merits of any claims against the director or officer.
H.    The number of lawsuits challenging the judgment and actions of directors and officers of Delaware corporations, the costs of defending those lawsuits, and the threat to directors’ and officers’ personal assets have all materially increased over the past several years, chilling the willingness of capable women and men to undertake the responsibilities imposed on corporate directors and officers.

I.    Recent federal legislation and judicial decisions have imposed additional disclosure and corporate governance obligations on directors and officers of companies and have exposed such directors and officers to new and substantially broadened civil liabilities.
J.    These initiatives have also exposed directors and officers of companies to a significantly greater risk of criminal proceedings, with attendant defense costs and potential criminal fines and penalties.
K.    The authority of a corporation to indemnify and advance the costs of defense to its directors and officers applies to criminal proceedings as well as to civil, administrative and investigative proceedings.
L.    Indemnitee is a director, board observer or officer of the Company and his or her willingness to serve in such capacity is predicated, in substantial part, upon the Company’s willingness to indemnify him or her in accordance with the principles reflected above, to the fullest extent permitted by the laws of the State of Delaware, and upon the other undertakings set forth in this Agreement.
M.    Therefore, in recognition of the need to provide Indemnitee with substantial protection against personal liability, in order to procure Indemnitee’s continued service as a director, board observer or officer of the Company and to enhance Indemnitee’s ability to serve the Company in an effective manner, and in order to provide such protection pursuant to express contract rights (intended to be enforceable irrespective of, among other things, any amendment to the Company’s certificate of incorporation or bylaws (collectively, the “Constituent Documents”), any change in the composition of the Company’s Board of Directors (the “Board”) or any change-in-control or business combination transaction relating to the Company), the Company wishes to provide in this Agreement for the indemnification of and the advancement of Expenses (as defined in Section 1(e)) to Indemnitee as set forth in this Agreement and for the continued coverage of Indemnitee under the Company’s directors’ and officers’ liability insurance policies.
N.    In light of the considerations referred to in the preceding recitals, it is the Company’s intention and desire that the provisions of this Agreement be construed liberally, subject to their express terms, to maximize the protections to be provided to Indemnitee hereunder.
AGREEMENT:
NOW, THEREFORE, the parties hereby agree as follows:
1.Certain Definitions.  In addition to terms defined elsewhere herein, the following terms have the following meanings when used in this Agreement with initial capital letters:
(a)“Claim” means (i) any threatened, asserted, pending or completed claim, demand, action, suit or proceeding, whether civil, criminal, administrative, arbitrative, investigative or other, and whether made pursuant to federal, state or other law; and (ii) any threatened, pending or completed inquiry or investigation, whether made, instituted or conducted by or at the behest of the Company or any other person, including any federal, state or other court or governmental entity or agency and any committee or other representative of 

any corporate constituency, that Indemnitee determines might lead to the institution of any such claim, demand, action, suit or proceeding.
(b)“Controlled Affiliate” means any corporation, limited liability company, partnership, joint venture, trust or other entity or enterprise, whether or not for profit, that is directly or indirectly controlled by the Company.  For purposes of this definition, “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of an entity or enterprise, whether through the ownership of voting securities, through other voting rights, by contract or otherwise; provided that direct or indirect beneficial ownership of capital stock or other interests in an entity or enterprise entitling the holder to cast 20% or more of the total number of votes generally entitled to be cast in the election of directors (or persons performing comparable functions) of such entity or enterprise shall be deemed to constitute control for purposes of this definition.
(c)“Disinterested Director” means a director of the Company who is not and was not a party to the Claim in respect of which indemnification is sought by Indemnitee.
(d)“ERISA Losses” means any taxes, penalties or other liabilities under the Employee Retirement Income Security Act of 1974, as amended, or Section 4975 of the Internal Revenue Code of 1986, as amended.
(e)“Expenses” means attorneys’ and experts’ fees and expenses and all other costs and expenses paid or payable in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to investigate, defend, be a witness in or participate in (including on appeal), any Claim.  The parties agree, without stipulating that to be subject to advancement or reimbursement under this Agreement that Expenses need be reasonable, that for the purposes of any advancement of Expenses for which Indemnitee has made written demand to the Company in accordance with this Agreement, all Expenses included in such demand that then or thereafter are certified by affidavit of Indemnitee's counsel as being reasonable shall be presumed conclusively to be reasonable.
(f)“Incumbent Directors” means the individuals who, as of the date hereof, are members of the Board and any individual becoming a member of the Board subsequent to the date hereof whose election, nomination for election by the Company’s stockholders, or appointment, was approved by a vote of at least two-thirds of the then Incumbent Directors (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without objection to such nomination); provided, however, that an individual shall not be an Incumbent Director if such individual’s election or appointment to the Board occurs as a result of an actual or threatened election contest (as described in Rule 14a-12(c) of the Securities Exchange Act of 1934, as amended) with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board.
(g)“Indemnifiable Claim” means any Claim based upon, arising out of or resulting from (i) any actual, alleged or suspected act or failure to act, whether before, at or after the time of this Agreement, by Indemnitee in his or her capacity as a director, board observer, officer, employee or agent of the Company or as a director, board observer, officer, employee, member, manager, trustee or agent of any other corporation, limited liability company, partnership, joint venture, trust or other entity or enterprise, whether or not for profit (including any employee benefit plan or related trust) (collectively, together with the Company, the “Enterprise”), as to which Indemnitee is or was serving at the request of the Company as a director, officer, employee, member, manager, trustee or agent, (ii) any actual, alleged or suspected act or failure to act, whether before, at or after the time of this Agreement, by Indemnitee in respect of any business, transaction, communication, filing, disclosure or other activity of the Company or the Enterprise, or (iii) Indemnitee’s status as a current or former 

director, board observer, officer, employee or agent of the Company or as a current or former director, officer, employee, member, manager, trustee or agent of the Company or the Enterprise or any actual, alleged or suspected act or failure to act by Indemnitee in connection with any obligation or restriction imposed upon Indemnitee by reason of such status.  In addition to any service at the actual request of the Company, for purposes of this Agreement, Indemnitee shall be deemed to be serving or to have served at the request of the Company as a director, board observer, officer, employee, member, manager, trustee or agent of another entity or enterprise if Indemnitee is or was serving as a director, board observer, officer, employee, member, manager, trustee or agent of such entity or enterprise and (i) such entity or enterprise is or at the time of such service was a Controlled Affiliate, (ii) such entity or enterprise is or at the time of such service was an employee benefit plan (or related trust) sponsored or maintained by the Company or a Controlled Affiliate, or (iii) the Company or a Controlled Affiliate directly or indirectly caused or authorized Indemnitee to be nominated, elected, appointed, designated, employed, engaged or selected to serve in such capacity.
(h)“Indemnifiable Losses” means any and all Losses relating to, arising out of or resulting from any Indemnifiable Claim.
(i)“Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent:  (i) the Company (or any Subsidiary) or Indemnitee in any matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other named (or, as to a threatened matter, reasonably likely to be named) party to the Indemnifiable Claim giving rise to a claim for indemnification hereunder.  Notwithstanding the foregoing, the term “Independent Counsel” does not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.  
(j)“Losses” means any and all Expenses, damages, losses, liabilities, judgments, fines, penalties (whether civil, criminal or other), ERISA Losses and amounts paid in settlement, including all interest, assessments and other charges paid or payable in connection with or in respect of any of the foregoing.
(k)“Subsidiary” means an entity in which the Company directly or indirectly beneficially owns 50% or more of the outstanding Voting Stock.
(l)“Voting Stock” means securities entitled to vote generally in the election of directors (or similar governing bodies).
2.Services to the Company.  Indemnitee agrees to continue to serve as a director or officer of the Company for so long as Indemnitee is duly elected or appointed or until Indemnitee tenders his or her resignation or is no longer serving in such capacity. This Agreement shall not be deemed an employment agreement between the Company or the Enterprise, on the one hand, and Indemnitee, on the other hand.  Indemnitee specifically acknowledges that his or her service to the Company and the Enterprise is at will and the Indemnitee may be discharged at any time for any reason, with or without cause, except as may be otherwise provided in any written employment agreement between Indemnitee and the Company (or any of its Subsidiaries or the Enterprise), other applicable formal severance policies duly adopted by the Board or, with respect to service as a director or officer of the Company, by the Company's Constituent Documents, Corporate Governance Guidelines or Delaware law.  This Agreement shall continue in force after Indemnitee has ceased to serve as a director or officer of the Company or, at the request of the Company, of any of its Subsidiaries or the Enterprise.

3.Indemnification Obligation.  Subject to Section 9, the Company shall indemnify, defend and hold harmless Indemnitee, to the fullest extent permitted or required by the laws of the State of Delaware in effect on the date hereof or as such laws may from time to time hereafter be amended to increase the scope of such permitted or required indemnification, against any and all Indemnifiable Claims and Indemnifiable Losses; provided, however, that (a) except for compulsory counterclaims or as provided in Sections 5 and 22, Indemnitee shall not be entitled to indemnification pursuant to this Agreement in connection with any Claim initiated by Indemnitee against the Company or any director or officer of the Company unless the Company has joined in or consented to the initiation of such Claim and (b) no repeal or amendment of any law of the State of Delaware shall in any way diminish or adversely affect the rights of Indemnitee pursuant to this Agreement in respect of any occurrence or matter arising prior to any such repeal or amendment.
4.Advancement of Expenses.  Indemnitee shall have the right to advancement by the Company prior to the final disposition of any Indemnifiable Claim of any and all Expenses relating to, arising out of or resulting from any Indemnifiable Claim paid or incurred by Indemnitee or which Indemnitee determines are reasonably likely to be paid or incurred by Indemnitee.  Indemnitee’s right to such advancement is not subject to the satisfaction of any standard of conduct and is not conditioned upon any prior determination that Indemnitee is entitled to indemnification under this Agreement with respect to the Indemnifiable Claim or the absence of any prior determination to the contrary.  Without limiting the generality or effect of the foregoing, within five business days after any request by Indemnitee, the Company shall, in accordance with such request (but without duplication), (a) pay such Expenses on behalf of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to pay such Expenses, or (c) reimburse Indemnitee for such Expenses; provided that Indemnitee shall repay, without interest any amounts actually advanced to Indemnitee that, at the final disposition of the Indemnifiable Claim to which the advance related, were in excess of amounts paid or payable by Indemnitee in respect of Expenses relating to, arising out of or resulting from such Indemnifiable Claim.  In connection with any request for advancement of Expenses, Indemnitee shall not be required to provide any documentation or information to the extent that the provision thereof would undermine or otherwise compromise attorney-client privilege.  In connection with any such payment, advancement or reimbursement, if delivery of an undertaking is a legally required condition precedent to such payment, advance or reimbursement, Indemnitee shall execute and deliver to the Company an undertaking in the form attached hereto as Exhibit A (subject to Indemnitee filling in the blanks therein and selecting from among the bracketed alternatives therein), which need not be secured and shall be accepted by the Company without reference to Indemnitee’s ability to repay the Expenses.  In no event shall Indemnitee’s right to the payment, advancement or reimbursement of Expenses pursuant to this Section 4 be conditioned upon any undertaking that is less favorable to Indemnitee than, or that is in addition to, the undertaking set forth in Exhibit A.  
5.Indemnification for Additional Expenses.  Without limiting the generality or effect of the foregoing, the Company shall indemnify and hold harmless Indemnitee against and, if requested by Indemnitee, shall reimburse Indemnitee for, or advance to Indemnitee, within five business days of such request, any and all Expenses paid or incurred by Indemnitee or which Indemnitee determines are reasonably likely to be paid or incurred by Indemnitee in connection with any Claim made, instituted or conducted by Indemnitee, in each case to the fullest extent permitted or required by the laws of the State of Delaware in effect on the date hereof or as such laws may from time to time hereafter be amended to increase the scope of such permitted or required indemnification, reimbursement or advancement of such Expenses, for (a) indemnification or payment, advancement or reimbursement of Expenses by the Company 

under any provision of this Agreement, or under any other agreement or provision of the Constituent Documents now or hereafter in effect relating to Indemnifiable Claims, and/or (b) recovery under any directors’ and officers’ liability insurance policies maintained by the Company; provided, however, that Indemnitee shall return, without interest, any such advance of Expenses (or portion thereof) which remains unspent at the final disposition of the Claim to which the advance related.
6.Contribution.  To the fullest extent permissible under applicable law in effect on the date hereof or as such law may from time to time hereafter be amended to increase the scope of permitted or required indemnification, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the payment of any and all Indemnifiable Claims or Indemnifiable Losses, in such proportion as is fair and reasonable in light of all of the circumstances in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Indemnifiable Claim or Indemnifiable Loss and/or (ii) the relative fault of the Company (and its other directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s); provided that such contribution shall not be required where it is determined, pursuant to a final disposition of such Indemnifiable Claim or Indemnifiable Loss in accordance with Section 9, that Indemnitee is not entitled to indemnification by the Company with respect to such Indemnifiable Claim or Indemnifiable Loss.
7.Partial Indemnity.  If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of any Indemnifiable Loss, but not for all of the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.  
8.Procedure for Notification.  To obtain indemnification under this Agreement in respect of an Indemnifiable Claim or Indemnifiable Loss, Indemnitee shall submit to the Company a written request therefor, including a brief description (based upon information then available to Indemnitee) of such Indemnifiable Claim or Indemnifiable Loss.  If, at the time of the receipt of such request, the Company has directors’ and officers’ liability insurance in effect under which coverage for such Indemnifiable Claim or Indemnifiable Loss is potentially available, the Company shall give prompt written notice of such Indemnifiable Claim or Indemnifiable Loss to the applicable insurers in accordance with the procedures set forth in the applicable policies.  The Company shall provide to Indemnitee a copy of such notice delivered to the applicable insurers, and copies of all subsequent correspondence between the Company and such insurers regarding the Indemnifiable Claim or Indemnifiable Loss, in each case substantially concurrently with the delivery or receipt thereof by the Company.  The failure by Indemnitee to timely notify the Company of any Indemnifiable Claim or Indemnifiable Loss shall not relieve the Company from any liability hereunder unless, and only to the extent that, the Company did not otherwise learn of such Indemnifiable Claim or Indemnifiable Loss and such failure results in forfeiture by the Company of substantial defenses, rights or insurance coverage.
9.Determination of Right to Indemnification.
(a) To the extent that Indemnitee shall have been successful on the merits or otherwise in defense of any Indemnifiable Claim or any portion thereof or in defense of any issue or matter therein, including dismissal without prejudice, Indemnitee shall be indemnified against Indemnifiable Losses relating to, arising out of or resulting from such Indemnifiable Claim in accordance with Section 3 and no Standard of Conduct Determination (as defined in Section 9(c)) shall be required with respect to such Indemnifiable Claim.

(b) To the extent that Indemnitee's involvement in a Claim relating to an Indemnifiable Event is to prepare to serve and serve as a witness, and not as a party, the Indemnitee shall be indemnified against Indemnifiable Losses relating to, arising out of or resulting from such Indemnifiable Claim in accordance with Section 3 and no Standard of Conduct Determination (as defined in Section 9(c)) shall be required with respect to such Indemnifiable Claim.
(c)    To the extent that the provisions of Section 9(a) and 9(b) are inapplicable to an Indemnifiable Claim that shall have been finally disposed of, any determination of whether Indemnitee has satisfied any applicable standard of conduct under Delaware law that is a legally required condition precedent to indemnification of Indemnitee hereunder against Indemnifiable Losses relating to, arising out of or resulting from such Indemnifiable Claim (a “Standard of Conduct Determination”) shall be made as follows:  (i) by a majority vote of the Disinterested Directors, even if less than a quorum of the Board, (ii) if such Disinterested Directors so direct, by a majority vote of a committee of Disinterested Directors designated by a majority vote of all Disinterested Directors, or (iii) if there are no such Disinterested Directors or if Indemnitee so requests, by Independent Counsel, selected by Indemnitee and approved by the Board (such approval not to be unreasonably withheld, delayed or conditioned), in a written opinion addressed to the Board, a copy of which shall be delivered to Indemnitee; provided, however, that if at the time of any Standard of Conduct Determination Indemnitee is neither a director nor an officer of the Company, such Standard of Conduct Determination may be made by or in the manner specified by the Board, any duly authorized committee of the Board or any duly authorized officer of the Company (unless Indemnitee requests that such Standard of Conduct Determination be made by Independent Counsel, in which case such Standard of Conduct Determination shall be made by Independent Counsel selected by Indemnitee and approved by the Board (such approval not to be unreasonably withheld, delayed or conditioned)).  Indemnitee shall reasonably cooperate with the person or persons making such Standard of Conduct Determination, including providing to such person or persons, upon reasonable advance request, any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination.  The Company shall indemnify and hold harmless Indemnitee against and, if requested by Indemnitee, shall reimburse Indemnitee for, or advance to Indemnitee, within five business days of such request, any and all Expenses incurred by Indemnitee in so cooperating with the person or persons making such Standard of Conduct Determination.  
(d)    The Company shall use its reasonable best efforts to cause any Standard of Conduct Determination required under Section 9(c) to be made as promptly as practicable.  If (i) the person or persons empowered or selected under Section 9(c) to make the Standard of Conduct Determination shall not have made a determination within 30 days after the later of (A) receipt by the Company of written notice from Indemnitee advising the Company of the final disposition of the applicable Indemnifiable Claim (the date of such receipt being the “Notification Date”) and (B) the selection of an Independent Counsel, if such determination is to be made by Independent Counsel, and (ii) Indemnitee shall have fulfilled his or her obligations set forth in the second sentence of Section 9(c), then Indemnitee shall be deemed to have satisfied the applicable standard of conduct; provided that such 30-day period may be extended for a reasonable time, not to exceed an additional 30 days, if the person or persons making such determination in good faith requires such additional time for the obtaining or evaluation or documentation and/or information relating thereto.  In all events, the Company shall pay all of the reasonable fees and expenses of the Independent Counsel incurred in connection with the Independent Counsel’s determination pursuant to Section 9(c).

(e)    If (i) Indemnitee shall be entitled to indemnification hereunder against any Indemnifiable Losses pursuant to Section 9(a) or 9(b), (ii) no determination of whether Indemnitee has satisfied any applicable standard of conduct under Delaware law is a legally required condition precedent to indemnification of Indemnitee hereunder against any Indemnifiable Losses, or (iii) Indemnitee has been determined or deemed pursuant to Section 9(c) or 9(d) to have satisfied any applicable standard of conduct under Delaware law which is a legally required condition precedent to indemnification of Indemnitee hereunder against any Indemnifiable Losses, then the Company shall pay to Indemnitee, within five business days after the later of (x) the Notification Date in respect of the Indemnifiable Claim or portion thereof to which such Indemnifiable Losses are related, out of which such Indemnifiable Losses arose or from which such Indemnifiable Losses resulted and (y) the earliest date on which the applicable criterion specified in clause (i), (ii) or (iii) above shall have been satisfied, an amount equal to the amount of such Indemnifiable Losses.
10.Presumption of Entitlement.  
(a) In making a determination of whether Indemnitee has been successful on the merits or otherwise in defense of any Indemnifiable Claim or any portion thereof or in defense of any issue or matter therein, the Company acknowledges that a resolution, disposition or outcome short of dismissal or final judgment, including outcomes that permit Indemnitee to avoid expense, delay, embarrassment, injury to reputation, distraction, disruption or uncertainty, may constitute such success.  In the event that any Indemnifiable Claim or any portion thereof or issue or matter therein is resolved or disposed of in any manner other than by adverse judgment against Indemnitee (including any resolution or disposition thereof by means of settlement with or without payment of money or other consideration), it shall be presumed that Indemnitee has been successful on the merits or otherwise in defense of such Indemnifiable Claim or portion thereof or issue or matter therein.  The Company may overcome such presumption only by its adducing clear and convincing evidence to the contrary.
(b)    In making any Standard of Conduct Determination, the person or persons making such determination shall presume that Indemnitee has satisfied the applicable standard of conduct, and the Company may overcome such presumption only by its adducing clear and convincing evidence to the contrary.  Any Standard of Conduct Determination that is adverse to Indemnitee may be challenged by Indemnitee in the Court of Chancery of the State of Delaware.  No determination by the Company (including by its directors or any Independent Counsel) that Indemnitee has not satisfied any applicable standard of conduct shall be a defense to any Claim by Indemnitee for indemnification or reimbursement or advance payment of Expenses by the Company hereunder or create a presumption that Indemnitee has not met any applicable standard of conduct.
(c)    Without limiting the generality or effect of Section 10(b), (i) to the extent that any Indemnifiable Claim relates to any entity or enterprise (other than the Company) referred to in clause (i) of the first sentence of the definition of “Indemnifiable Claim,” Indemnitee shall be deemed to have satisfied the applicable standard of conduct if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the interests of such entity or enterprise (or the owners or beneficiaries thereof, including in the case of any employee benefit plan the participants and beneficiaries thereof) and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was unlawful, and (ii) in all cases, any belief of Indemnitee that is based on the records or books of account of the Company, including financial statements, or on information supplied to Indemnitee by the 

directors or officers of the Company in the course of their duties, or on the advice of legal counsel for the Company, the Board, any committee of the Board or any director, or on information, opinions or records given, reports made or statements furnished to the Company, the Board, any committee of the Board or any director by an independent certified public accountant or by an appraiser or other expert selected by or on behalf of the Company, the Board, any committee of the Board or any director shall be deemed to be reasonable.
11.No Adverse Presumption.  For purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, will not create a presumption that Indemnitee did not meet any applicable standard of conduct or that indemnification hereunder is otherwise not permitted.
12.Non‐Exclusivity; Primacy of Company’s Obligations.  
(a)    The rights of Indemnitee hereunder will be in addition to any other rights Indemnitee may have against the Company under the Constituent Documents, or the substantive laws of the Company’s jurisdiction of incorporation, any other contract or otherwise (collectively, “Other Indemnity Provisions”); provided, however, that (i) to the extent that Indemnitee otherwise would have any greater right to indemnification under any Other Indemnity Provision, Indemnitee will be deemed to have such greater right hereunder and (ii) to the extent that any change is made to any Other Indemnity Provision which permits any greater right to indemnification than that provided under this Agreement as of the date hereof, Indemnitee will be deemed to have such greater right hereunder.  The Company will not adopt any amendment to any of the Constituent Documents the effect of which would be to deny, diminish or encumber Indemnitee’s right to indemnification under this Agreement or any Other Indemnity Provision.
(b)  The Company hereby acknowledges that Indemnitee may have certain rights to indemnification, advancement of expenses and/or insurance provided by third parties and certain of its affiliates (collectively, the “Other Indemnitors”).  The Company hereby agrees (i) that it is the indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the Other Indemnitors to advance expenses or to provide indemnification to Indemnitee in respect of any Indemnifiable Claim or Indemnifiable Loss is secondary), (ii) that it shall be required to advance the full amount of Expenses incurred by Indemnitee and shall be liable for the full amount of all Expenses and Indemnifiable Losses to the extent legally permitted and as required by the terms of this Agreement or any Other Indemnity Provisions, without regard to any rights Indemnitee may have against the Other Indemnitors, and (iii) that it irrevocably waives, relinquishes and releases the Other Indemnitors from any and all claims against the Other Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof.  The Company further agrees that no advancement or payment by the Other Indemnitors on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Other Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company.  The Company and Indemnitee agree that the Other Indemnitors are express third party beneficiaries of the provisions of this Section 12(b).
13.Liability Insurance and Funding.  For the duration of Indemnitee’s service as a director and/or officer of the Company, and thereafter for so long as Indemnitee shall be subject to any pending or possible Indemnifiable Claim, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage 

available relative to the cost thereof) to cause to be maintained in effect policies of directors’ and officers’ liability insurance providing coverage for directors and/or officers of the Company that is at least substantially comparable in scope and amount to that provided by the Company’s current policies of directors’ and officers’ liability insurance.  The Company shall provide Indemnitee with a copy of all directors’ and officers’ liability insurance applications, binders, policies, declarations, endorsements and other related materials, and shall provide Indemnitee with a reasonable opportunity to review and comment on the same.  Without limiting the generality or effect of the two immediately preceding sentences, the Company shall not discontinue or significantly reduce the scope or amount of coverage from one policy period to the next (i) without the prior approval thereof by a majority vote of the Incumbent Directors, even if less than a quorum, or (ii) if at the time that any such discontinuation or significant reduction in the scope or amount of coverage is proposed there are no Incumbent Directors, without the prior written consent of Indemnitee (which consent shall not be unreasonably withheld or delayed).  In all policies of directors’ and officers’ liability insurance obtained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits, subject to the same limitations, as are accorded to the Company’s directors and officers most favorably insured by such policy.  The Company may, but shall not be required to, create a trust fund, grant a security interest or use other means, including a letter of credit, to ensure the payment of such amounts as may be necessary to satisfy its obligations to indemnify and advance expenses pursuant to this Agreement.
14.Subrogation.  Except as provided in Section 12(b), In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the related rights of recovery of Indemnitee against other persons or entities (other than Indemnitee’s successors), including the Enterprise.  Indemnitee shall execute all papers reasonably required to evidence such rights (all of Indemnitee’s reasonable Expenses, including attorneys’ fees and charges, related thereto to be reimbursed by or, at the option of Indemnitee, advanced by the Company).
15.No Duplication of Payments.  Except as provided in Section 12(b), The Company shall not be liable under this Agreement to make any payment to Indemnitee in respect of any Indemnifiable Losses to the extent Indemnitee has otherwise actually received payment (net of any Expenses incurred in connection therewith and any repayment by Indemnitee made with respect thereto) under any insurance policy, the Constituent Documents and Other Indemnity Provisions or otherwise (including from the Enterprise in respect of such Indemnifiable Losses otherwise indemnifiable hereunder.
16.Defense of Claims.  The Company shall be entitled, at its own expense, to participate in the defense of any Indemnifiable Claim or to assume the defense thereof, with counsel reasonably satisfactory to Indemnitee; provided that if, at any time, Indemnitee believes, after consultation with counsel retained by Indemnitee at the Company’s expense, that (a) the use of counsel chosen by the Company to represent Indemnitee would present such counsel chosen by the Company with an actual or potential conflict, (b) the named parties in any such Indemnifiable Claim (including any impleaded parties) include both the Company and Indemnitee and Indemnitee shall conclude that there may be one or more legal defenses or counterclaims available to him or her that are different from or in addition to those available to the Company, or (c) any such representation by such counsel would be precluded under the applicable standards of professional conduct then prevailing, then Indemnitee shall be entitled to retain separate counsel (but not more than one law firm plus, if applicable, local counsel in respect of any particular Indemnifiable Claim) at the Company’s expense.  The Company shall 

not be liable to Indemnitee under this Agreement for any amounts paid in settlement of any threatened or pending Indemnifiable Claim effected without the Company’s prior written consent.  The Company shall not, without the prior written consent of Indemnitee, effect any settlement of any threatened or pending Indemnifiable Claim to which Indemnitee is, or could have been, a party unless such settlement solely involves the payment of money and includes a complete and unconditional release of Indemnitee from all liability on any claims that are the subject matter of such Indemnifiable Claim.  Neither the Company nor Indemnitee shall unreasonably withhold its consent to any proposed settlement; provided that Indemnitee may withhold consent to any settlement that does not provide a complete and unconditional release of Indemnitee.
17.Successors and Binding Agreement.  (a)    The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree to perform this Agreement in the same manner and to the same extent the Company would be required to perform if no such succession had taken place.  This Agreement shall be binding upon and inure to the benefit of the Company and any successor to the Company, including any person acquiring directly or indirectly all or substantially all of the business or assets of the Company whether by purchase, merger, consolidation, reorganization or otherwise (and such successor will thereafter be deemed the “Company” for purposes of this Agreement), but shall not otherwise be assignable or delegatable by the Company.
(b)    This Agreement shall inure to the benefit of and be enforceable by Indemnitee’s personal or legal representatives, executors, administrators, heirs, distributees, legatees and other successors.
(c)    This Agreement is personal in nature and neither of the parties hereto shall, without the consent of the other, assign or delegate this Agreement or any rights or obligations hereunder except as expressly provided in Sections 17(a) and 17(b).  Without limiting the generality or effect of the foregoing, Indemnitee’s right to receive payments hereunder shall not be assignable, whether by pledge, creation of a security interest or otherwise, other than by a transfer by Indemnitee’s will or by the laws of descent and distribution, and, in the event of any attempted assignment or transfer contrary to this Section 17(c), the Company shall have no liability to pay any amount so attempted to be assigned or transferred.
18.Notices.  For all purposes of this Agreement, all communications, including notices, consents, requests or approvals, required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given when hand delivered or dispatched by electronic facsimile transmission (with receipt thereof orally confirmed), or one business day after having been sent for next‐day delivery by a nationally recognized overnight courier service, addressed to the Company (to the attention of the Secretary of the Company) and to Indemnitee at the applicable address shown on the signature page hereto, or to such other address as any party may have furnished to the other in writing and in accordance herewith, except that notices of changes of address will be effective only upon receipt.
19.Governing Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by and construed in accordance with the substantive laws of the State of Delaware, without giving effect to the principles of conflict of laws of such State.  The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the Chancery Court of the State of Delaware for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement and agree that any action instituted under this Agreement shall be brought only in the Chancery Court of the State of Delaware.

20.Validity.  If any provision of this Agreement or the application of any provision hereof to any person or circumstance is held invalid, unenforceable or otherwise illegal, the remainder of this Agreement and the application of such provision to any other person or circumstance shall not be affected, and the provision so held to be invalid, unenforceable or otherwise illegal shall be reformed to the extent, and only to the extent, necessary to make it enforceable, valid or legal.  In the event that any court or other adjudicative body shall decline to reform any provision of this Agreement held to be invalid, unenforceable or otherwise illegal as contemplated by the immediately preceding sentence, the parties thereto shall take all such action as may be necessary or appropriate to replace the provision so held to be invalid, unenforceable or otherwise illegal with one or more alternative provisions that effectuate the purpose and intent of the original provisions of this Agreement as fully as possible without being invalid, unenforceable or otherwise illegal.
21.Miscellaneous.  No provision of this Agreement may be waived, modified or discharged unless such waiver, modification or discharge is agreed to in writing signed by Indemnitee and the Company.  No waiver by either party hereto at any time of any breach by the other party hereto or compliance with any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.  No agreements or representations, oral or otherwise, expressed or implied with respect to the subject matter hereof have been made by either party that are not set forth expressly in this Agreement. 

22.Legal Fees and Expenses; Interest.  (a)    It is the intent of the Company that Indemnitee not be required to incur legal fees and or other Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to Indemnitee hereunder.  Accordingly, without limiting the generality or effect of any other provision hereof, if it should appear to Indemnitee that the Company has failed to comply with any of its obligations under this Agreement (including its obligations under Section 4) or in the event that the Company or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or proceeding designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided to Indemnitee hereunder, the Company irrevocably authorizes Indemnitee from time to time to retain counsel of Indemnitee’s choice, at the expense of the Company as hereafter provided, to advise and represent Indemnitee in connection with any such interpretation, enforcement or defense, including the initiation or defense of any litigation or other legal action, whether by or against the Company or any director, officer, stockholder or other person affiliated with the Company, in any jurisdiction.  Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to Indemnitee’s entering into an attorney-client relationship with such counsel, and in that connection the Company and Indemnitee agree that a confidential relationship shall exist between Indemnitee and such counsel.  The Company will pay and be solely financially responsible for any and all attorneys’ and related fees and expenses incurred by Indemnitee in connection with any of the foregoing to the fullest extent permitted or required by the laws of the State of Delaware in effect on the date hereof or as such laws may from time to time hereafter be amended to increase the scope of such permitted or required payment of such fees and expenses.
(b)    Any amount due to Indemnitee under this Agreement that is not paid by the Company by the date on which it is due will accrue interest at the prime rate as announced by Citibank, N.A. plus 5% or if less, the maximum legal rate under Delaware law, from the date on which such amount is due to the date on which such amount is paid to Indemnitee.  
23.Certain Interpretive Matters.  Unless the context of this Agreement otherwise requires, (a) “it” or “its” or words of any gender include each other gender, (b) words using the singular or plural number also include the plural or singular number, respectively, (c) the terms “hereof,” “herein,” “hereby” and derivative or similar words refer to this entire Agreement, (d) the terms “ “Section” or “Exhibit” refer to the specified Section or Exhibit of or to this Agreement, (e) the terms “include,” “includes” and “including” will be deemed to be followed by the words “without limitation” (whether or not so expressed), and (f) the word “or” is disjunctive but not exclusive.  Whenever this Agreement refers to a number of days, such number will refer to calendar days unless business days are specified and whenever action must be taken (including the giving of notice or the delivery of documents) under this Agreement during a certain period of time or by a particular date that ends or occurs on a non-business day, then such period or date will be extended until the immediately following business day.  As used herein, “business day” means any day other than Saturday, Sunday or a United States federal holiday.
24.Counterparts.  This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original but all of which together shall constitute one and the same agreement.
[Signatures Appear on Following Page]

IN WITNESS WHEREOF, Indemnitee has executed and the Company has caused its duly authorized representative to execute this Agreement as of the date first above written.

[______________________]

By:                        
Name:
Title:

Notice Address:

________________________
________________________
________________________
Fax:  ___________________

INDEMNITEE

                        
Print Name:________________________

Notice Address:

________________________
________________________
________________________
Fax:  ___________________

EXHIBIT A
UNDERTAKING

This Undertaking is submitted pursuant to the Director and Officer Indemnification Agreement, dated as of _________ __, 2014 (the “Indemnification Agreement”), between _______________________, a Delaware corporation (the “Company”), and the undersigned.  Capitalized terms used and not otherwise defined herein have the meanings ascribed to such terms in the Indemnification Agreement.
The undersigned hereby requests [payment], [advancement], [reimbursement] by the Company of Expenses which the undersigned [has incurred] [reasonably expects to incur] in connection with ______________________ (the “Indemnifiable Claim”).
The undersigned hereby undertakes to repay the [payment], [advancement], [reimbursement] of Expenses made by the Company to or on behalf of the undersigned in response to the foregoing request if it is determined, following the final disposition of the 

Indemnifiable Claim and in accordance with Section 9 of the Indemnification Agreement, that the undersigned is not entitled to indemnification by the Company under the Indemnification Agreement with respect to the Indemnifiable Claim.
IN WITNESS WHEREOF, the undersigned has executed this Undertaking as of this _____ day of ______________, ____.

                        
Print Name:  _____________________Exhibit

Exhibit 10.37

	
		
	CONTRATO DE TRABALHO
	EMPLOYMENT AGREEMENT

	Pelo presente Contrato de Trabalho, doravante denominado “Contrato”,
	By this Employment Agreement, hereinafter referred to as “Agreement”,

	NEXTEL TELECOMUNICAÇÕES LTDA., sociedade com sede na Avenida das Nações Unidas, 14.171, 27° andar, na cidade de São Paulo, Estado de São Paulo, inscrita no Cadastro Nacional da Pessoa Jurídica do Ministério da Fazenda (“CNPJ/MF”) no 66.970.229/0001-67, doravante denominado simplesmente “Empresa”; e FRANCISCO TOSTA VALIM FILHO, inscrito no CPF/MF no 335.827.150-53 e portador da Cédula de Identidade RG n° 100.685.527-2-SSP/RS, residente e domiciliado na Av. Giovanni Gronchi, 4864, 8, Morumbi, na cidade de São Paolo, Estado de São Paulo, doravante denominado simplesmente “Empregado”; cada uma das partes também denominada individualmente “Parte”, e conjuntamente “Partes”; em consideração ao que fora mutuamente ajustado e acordado, as Partes concordam com o disposto a seguir:

	NEXTEL TELECOMUNICAÇÕES LTDA., a company with head offices at Avenida das Nações Unidas, 14,171, 27th floor, in the city of São Paulo, State of São Paulo, enrolled with Brazilian Taxpayers’ Registry of the Ministry of Finance (“CNPJ/MF”) No. 66.970.229/0001-67 , hereinafter referred to as “Company”; and FRANCISCO TOSTA VALIM FILHO, enrolled with the CPF/MF No. 335.827.150-53, bearer of Identity Card No. 100.685.527-2-SSP/RS, resident and domiciled at Av. Giovanni Gronchi, 4864, 8, Morumbi, in the city of São Paolo, State of São Paolo, hereinafter referred to as “Employee”; each and any of these parties also individually referred to as “Party”, and collectively referred to as “Parties”, now, then, in consideration of the mutual covenants and promises set forth herein, the Parties hereto agree as follows:

	1. SERVIÇOS E PERÍODO DE EXPERIÊNCIA
	1. Services AND PROBATION PERIOD

	1.1 O Empregado deverá prestar serviços à Empresa no cargo de Presidente e Representante Legal na função de Administrador indicado nos respectivos aditamentos dos contratos sociais da Empresa e suas subsidiárias e o estatuto social da sua empresa controladora (Nextel SA).
	1.1 The Employee undertakes to render services to Company in the position of President and Legal Representative in the role of Administrator appointed in the relevant amendments to the articles of incorporation of the Company and its subsidiaries and the bylaws of its controlling company (Nextel SA).

	1.2 Os serviços serão prestados na sede da Empresa ou em quaisquer outros locais em que a Empresa tenha interesses negociais.  A Empresa poderá transferir o Empregado para qualquer localidade dentro do Brasil, a título temporário ou permanente. Sempre que necessário, o Empregado realizará viagens a serviço da Empresa, cujas despesas lhe serão reembolsadas, mediante apresentação dos comprovantes.
	1.2 The services shall be rendered at the Company’s headquarters or at any other place where the Company may carry on business.  The Company is allowed to transfer the Employee to any other location within Brazil, temporarily or definitively.  Whenever necessary, Employee shall travel as instructed by the Company with expenses being reimbursed, upon the presentation of receipts.

	1.3 O Empregado terá poderes de administração da Empresa e atuará nos termos do artigo 1.011 do Código Civil Brasileiro e prestará contas dos seus atos aos sócios da Empresa e seus representantes. Sempre que solicitado, o Empregado deverá prestar contas e informações a Steven Shindler, Chief Executive Officer de NII Holdings, Inc. (“NII”) ou seu sucessor.
	1.3 The Employee shall have the powers to manage the Company’s business which he shall exercise in accordance with Article 1,011, Brazilian Civil Code, and he shall report and account to the Company’s shareholders and its representatives. Whenever required, the Employee shall report and account to Steven Shindler, Chief Executive Officer of NII Holdings, Inc. (“NII”) or his successor.

	2. Jornada de Trabalho
	2. WORKING HOURS

	Em razão da sua posição e poderes de gestão, o Empregado não estará sujeito a uma jornada de trabalho fixa, nem tampouco fará jus ao recebimento de adicional por horas extras, uma vez que exerce cargo de confiança, nos termos do artigo 62, inciso II, da Consolidação das Leis do Trabalho.
	In view of his position and his management powers, the Employee will not be subject to a fixed work shift neither will he be entitled to receive any additional payment for overtime work, as he renders services on a bona fide basis, according to Article 62, subsection II, of the Brazilian Labor Law.

	3. REMUNERAÇÃO
	3. COMPENSATION

	Na vigência deste Contrato, a Empresa pagará ao Empregado o salário fixo mensal bruto de R$184.615,38 (cento e oitenta e quatro mil e seiscentos e quinze reais e trinta e oito centavos).
	During the term of this Agreement, the Company shall pay the Employee the fixed monthly gross salary of R$184,615.38 (one hundred eighty four thousand, six hundred fifteen reais and thirty eight cents).

	
		
	4. BÔNUS ANUAL
	4. ANNUAL BONUS 

	O Empregado fará jus a um Bônus Anual de até R$4.800.000,00 (quatro milhões e oitocentos mil reais), composto da seguinte forma: (i) R$600.000,00 (seiscentos mil reais) pagos mediante submissão do plano de negócio da Empresa ao Conselho de Administração da NII; (ii) R$600.000,00 (seiscentos mil reais) pago mediante aceitação do plano de negócio da Empresa pelo Conselho de Administração da NII (o plano de negócio aceito, o “Plano”), que é parte integrante deste Contrato e; (iii) Pagamentos trimestrais de até R$1.200.000,00 (um milhão e duzentos mil reais), a partir do primeiro trimestre de 2016, devidos caso as metas mínimas especificadas para cada trimestre sejam atingidas. As Partes reconhecem e concordam que as métricas e metas específicas de desempenho do Empregado para cada trimestre serão definidas pelo Comitê de Remuneração do Conselho de Diretores da NII baseadas no Plano e o pagamento para cada trimestre está condicionado ao atingimento mínimo de todos os alvos das métricas de desempenho e sujeito à aprovação pelo Comitê de Remuneração do Conselho de Diretores da NII. Todos os valores aqui indicados são brutos.
	The Employee will be entitled to an Annual Bonus up to R$4,800,000 (four million, eight hundred thousand reais), comprised as follows: (i) R$600,000 (six hundred thousand reais) paid upon submission of the Company’s business plan to the Board of Directors of NII; (ii) R$600,000 (six hundred thousand reais) paid upon acceptance of the Company’s business plan by the Board of Directors of NII (the accepted business plan, the “Plan”), which is an integral part of this Agreement; and (iii) quarterly payments of up to R$1,200,000 (one million, two hundred thousand reais) each fiscal quarter, starting with the first quarter of 2016, if specified minimum quarterly targets are achieved. The Parties acknowledge and agree that the Employee’s specific performance measures and targets for each quarter will be set by the Compensation Committee of the Board of Directors of NII based on the Plan, and the payment for each quarter is contingent on achieving minimum thresholds for all performance measures and subject to approval by the Compensation Committee of the Board of Directors of NII. All amounts herein are gross. 

	5. CONCESSÃO DE EQUITY
	5. EQUITY GRANT

	O Empregado  receberá uma concessão de equity de longo prazo da NII equivalente a US$3.000,000 (três milhões de dólares), divididos igualmente entre restricted common stock e opção de compra de ações (common stock option) da NII, as quais serão concedidas sob condição suspensiva no segundo dia útil após a publicação das demonstrações financeiras da NII do terceiro trimestre de 2015 e serão plenamente adquiridas anualmente em partes iguais nos primeiros 3 (três) aniversários da data de concessão. O número de ações, opções e preço serão baseados no preço de fechamento da ação ordinária da NII na data de concessão. Os detalhes e condições de restricted stocks e stock options serão estabelecidos pela NII por meio do acordo de concessão de ações, os quais são expressamente definidos e aprovados pelo Conselho de Administração da NII (o “Restricted Stock Award Agreement” e “Nonqualified Stock Option Agreement”), e conforme o Plano de Remuneração de Incentivo da NII 2015 (o “2015 Incentive Compensation Plan”), cada um parte integrante deste Contrato.
	The Employee will receive a long-term grant of equity of NII equal to US$3,000,000 (three million US dollars) split equally between restricted common stock of NII and options to purchase common stock of NII, which will be granted under condition on the second business day after the release of the third quarter 2015 financial statements for NII and which will vest in equal parts on the first three (3) anniversaries of the date of grant. The number of shares, options and strike price will be based on the closing price of NII’s common stock on the date of grant. The details and conditions for restricted stock and stock options will be established by NII through equity award agreements, expressly defined and approved by the Board of Directors of NII (the “Restricted Stock Award Agreement” and “Nonqualified Stock Option Agreement”), and pursuant to the NII 2015 Incentive Compensation Plan (the “2015 Incentive Compensation Plan”), each an integral part of this Agreement. 

	6. BENEFÍCIOS
	6. BENEFITS

	
		
	Durante a vigência deste Contrato, o Empregado terá direito aos benefícios garantidos por lei e aos seguintes: 

(a) Assistência Médica Omint, nível executivo e com opção de livre escolha;
(b) Assistência Odontológica Odontoprev, com rede credenciada e opção de livre escolha;
(c) Seguro de vida em grupo com cobertura de 24 salários base em caso de morte natural e 48 salários base por morte acidental, até o limite de R$2.600.000,00 (dois milhões e seiscentos mil reais);
(d) Vale refeição ou alimentação no valor de R$26,65 (vinte e seis reais e sessenta e cinco centavos), por dia útil de cada mês;
(e) Plano de previdência privada com contribuição da Empresa no mesmo percentual da contribuição do participante, limitada a 10% do salário nominal;
(f) Carro da Empresa até o limite de R$400.000,00 (quatrocentos mil reais), consistindo em um veículo blindado, sendo que o fabricante e modelo específicos serão determinados pelos veículos disponíveis, com todas as despesas pagas pela Empresa;
(g) Estacionamento gratuito; e
(h) Telefone celular com despesas pagas pela Empresa e 3 (três) celulares adicionais para membros da família.
	During the term of this Agreement, the Employee will be entitled to the statutory benefits and the following ones: 

(a) Health Plan Omint, executive level and free choice option;
(b) Dental Plan Odontoprev, with credential net and free choice option;
(c) Group life insurance with coverage of 24 base salaries in case of natural death and 48 base salaries for accidental death, capped at R$2,600,000 (two million, six hundred thousand reais);
(d) Meal or food allowance in the amount of R$26.65 (twenty six reais and sixty five cents), per business day of each month;
(e) Private Pension Plan with the Company’s contribution at the same percentage as the participant’s contribution, capped at 10% of the base salary;
(f) Company vehicle in the maximum amount of R$400,000.00 (four hundred thousand reais), consisting of a bullet-proof vehicle, the specific make and model to be determined by the available vehicles, with all expenses borne by the Company;
(g) Free parking; and
(h) Cellphone with all expenses borne by the Company and 3 (three) additional phones for family members.

	7. PROTEÇÃO ADICIONAL CONTRA RESCISÃO
	7. ADDITIONAL SEVERANCE PROTECTION

	7.1 O Empregado terá direito ao pagamento de uma Proteção Adicional contra Rescisão (a “Rescisão Adicional”) de até US$4.500.000,00 (quatro milhões e quinhentos mil dólares), nas seguintes hipóteses: (A) (1) caso haja uma mudança de controle acionário da Empresa ou da NII; ou (2) caso haja um negócio jurídico incluindo parceria, sociedade ou MVNO (“Mobile Virtual Network Operator”), resultando na participação societária, direta ou indireta, da NII, de menos de 50% na Empresa (o “Negócio”) e (B) o contrato de trabalho do Empregado com a Empresa for rescindido sem justa causa pela Empresa no período compreendido entre adata de assinatura do contrato definitivo do Negócio e 12 (doze) meses após a data do closing (fechamento) do Negócio (os dois eventos A e B em conjunto). 
	7.1 The Employee will be entitled to the payment of an Additional Severance Protection (the “Additional Severance”) up to US$4,500,000 (four million, five hundred thousand US dollars), in the following cases: (A) (1) should there be a change of control of the Company or NII, or (2) should there be a transaction, including a partnership or MVNO (Mobile Virtual Network Operator) resulting in NII directly or indirectly owning less than 50% of the outstanding equity interests of the Company (the “Transaction”) and (B) the employment relationship of the Employee with the Company is terminated for mere convenience by the Company from the time an agreement relating to a Transaction is entered into and 12 (twelve) months following the Transaction closing date (the two events, A and B cumulative). 

	7.2 As Partes ora reconhecem e concordam que (i) pedido de demissão e demissão por justa causa estão excluídas dessa Rescisão Adicional e não será devido qualquer pagamento a título de Rescisão Adicional; e (ii) a Rescisão Adicional somente será devida se exceder o valor obrigatório das verbas rescisórias no Brasil a serem pagas por ocasião da rescisão sem justa causa, sendo que o valor excedente à verbas rescisórias obrigatórias no Brasil deverá ser pago em dólares norte-americanos na conta corrente indicada pelo Empregado. 
	7.2 The Parties acknowledge and agree herein that (i) voluntary termination and termination for cause are excluded from the Additional Severance and will not result in payment of the Additional Severance; and (ii) the Severance Protection will be due and payable only to extent it exceeds the mandated amount of termination fees in Brazil paid by virtue of termination without cause, in which case the amount exceeding the mandated termination fees in Brazil shall be paid in U.S. dollars to an account of the Employee’s choice. 

	
		
	7.3 As Partes reconhecem e concordam ainda que caso a Rescisão Adicional seja paga, tal Rescisão Adicional representa uma contraprestação razoável e justa para a concordância do Empregado pelas previsões de não-concorrência e não-aliciamento conforme descritas na Seção 9 durante o período deste Contrato e pelo período de 1 (um) após a sua rescisão.
	7.3 The Parties further acknowledge and agree that should the Additional Severance be paid, such Additional Severance represents reasonable and fair consideration for Employee’s agreements to non-competition and non-solicitation provisions as described in Section 9 during the term of this Agreement and for a period of 1 (one) year thereafter.

	8. CONFIDENCIALIDADE
	8. CONFIDENTIALITY

	8.1 Durante o período deste Contrato e pelo período de 1 (um) ano após a sua rescisão, o Empregado se compromete a não utilizar, divulgar ou de qualquer outra forma revelar Informações Confidenciais a que venha a ter acesso no desenvolvimento de suas atividades.
	8.1 During the term of this Agreement and for a period of 1 (one) year thereafter , the Employee shall not use, disclose or otherwise reveal Confidential Information of the Company to which she may have had access as a result of the performance of his activities.

	8.2 Constituem Informações Confidenciais para os propósitos deste Contrato, incluindo, exemplificativamente, listas de empregados e remunerações, planos de aquisição, políticas de preços, métodos de trabalho e operações, estratégias comerciais, estratégias de negócios e mercado, planos de propaganda e marketing, segredos comerciais, industriais e de negócios, tecnologias, know-how, fórmulas, projetos, designs, modelos, desenhos, esboços, planos, patentes, técnicas de programação de computador, programas de computador, preços, listas de fornecedores e de clientes, desempenho, lucro, custos, vendas, relatórios financeiros, participações de mercado e operações especiais, ou qualquer outra informação confidencial relativa aos negócios e operações da Empresa ou de qualquer de suas afiliadas.
	8.2 Confidential Information, for the purpose of this Agreement, includes, without limitation, employee and employee compensation lists, acquisition plans, pricing policies, working and operational methods, commercial strategies, businesses and market strategies, advertisement and marketing plans, commercial, industrial and business secrets, technologies, know-how, formulas, projects, designs, models, sketches, drafts, plans, patents, computer programming techniques, computer programs, prices, lists of suppliers and clients, performance, profits, costs, sales, financial reports, market share and special operations, or any other confidential information relating to the business and operations of the Company or of any its affiliates.

	8.3 Caso o Empregado venha a ser obrigado por força de lei a divulgar quaisquer Informações Confidenciais, deverá imediatamente notificar a Empresa sobre o fato para que este possa, então, deliberar sobre as medidas que julgue necessárias a fim de: (i) evitar a divulgação das Informações Confidenciais; ou (ii) instruir o Empregado sobre o modo como as Informações Confidenciais devem ser divulgadas. O Empregado deverá tomar todas e quaisquer medidas necessárias para cooperar com a Empresa para manter confidenciais as Informações Confidenciais.  As medidas a serem tomadas pelo Empregado incluem, exemplificativamente, o pedido às autoridades judiciais ou administrativas relevantes do tratamento confidencial das Informações Confidenciais.
	8.3 In the event that the Employee is requested by virtue of law to disclose any Confidential Information, he must immediately notify the Company about the requested disclosure so that the Company can take any and all measures that its deems necessary to (i) avoid the disclosure of the Confidential Information; or (ii) instruct the Employee as to how the Confidential Information should be disclosed. The Employee must take any and all necessary action to cooperate with the Company to keep confidential the Confidential Information. The actions to be taken by the Employee include, but are not limited to, requesting to the relevant judicial or administrative authorities confidential treatment to the Confidential Information.

	8.4 O Empregado deverá restituir, assim que solicitado pela Empresa ou no término do presente Contrato, todos e quaisquer materiais que contenham Informações Confidenciais.
	8.4 The Employee must return, upon the request of the Company or the termination of this Agreement, any and all materials containing Confidential Information.

	8.5 A violação da obrigação de confidencialidade implicará rescisão por justa causa deste Contrato, sem prejuízo das sanções penais decorrentes de procedimento criminal e sanções civis.
	8.5 The breach of the confidentiality obligation will result in the termination with cause of the Agreement, regardless of criminal penalties arising from a criminal procedure and civil sanctions.

	9. NÃO ALICIAMENTO
	9. NON-SOLICITATION 

	
		
	9.1 Não-Aliciamento (a empregados e clientes). Durante o período deste Contrato e 1 (um) ano após a sua rescisão, (i) em caso de demissão sem justa causa do Empregado e (ii) caso não haja um Negócio, o Empregado está proibido de: (a) direta ou indiretamente, incentivar um ou mais dos empregados da Empresa a deixar a Empresa e aceitar um emprego em negócios concorrentes com a Empresa; ou (b) direta ou indiretamente, incentivar ou ajudar qualquer outra pessoa no sentido de incentivar qualquer conselheiro, diretor, empregado, agente, consultor, contratante independente, ou qualquer outra pessoa afiliada com a Empresa de rescindir ou alterar a sua relação com a Empresa; ou (c) direta ou indiretamente, incentivar um ou mais dos clientes da Empresa para, no todo ou em parte, deixar a Empresa ou transferir o seu negócio para uma empresa com negócios concorrentes com os da Empresa.
	9.1 Non-Solicitation (of employees and clients). During the term of this Agreement and for a period of 1 (one) year thereafter if (i) the Employee is terminated for mere convenience and  (ii) there has been no Transaction, the Employee may not: (a) directly or indirectly, encourage one or more of the Company’s employees to leave the Company and take employment with a business in competition with the Company; or (b) directly or indirectly, encourage or assist any other person in encouraging any director, officer, employee, agent, consultant, independent contractor, or any other person affiliated with the Company to terminate or alter his/her or its relationship with the Company; or (c) directly or indirectly, encourage one or more of the Company’s customers to, in whole or partly, leave the Company or transfer their business to a business in competition with the Company.

	10. INVENÇÕES E CRIAÇÕES
	10. INVENTIONS AND CREATIONS

	10.1 Todas e quaisquer invenções, descobertas, melhorias, ideias, conceitos, criações ou quaisquer direitos suscetíveis ou não a registro perante órgãos de Propriedade Industrial ou Intelectual no Brasil ou no exterior que o Empregado tenha criado ou realizado, a qualquer tempo, relacionadas a quaisquer atividades executadas por ele em nome da Empresa (“Criações”) serão de total e exclusiva propriedade da Empresa.
	10.1 All and any inventions, discoveries, improvements, ideas, concepts, creations or any rights susceptible or not of registration before Intellectual or Industrial Property Authorities in Brazil or abroad created or performed by the Employee, at any time, related to any activities rendered by him on behalf of the Company (“Creations”) are owned entirely and exclusively by the Company.

	10.2 O Empregado deverá transferir à Empresa todos os direitos de propriedade dessas Criações, incluindo direito de autor e de patente, não sendo devida qualquer remuneração adicional em razão da transferência.  O Empregado ainda deve celebrar e assinar todos e quaisquer instrumentos que a Empresa julgar necessários para permitir o pedido, a consecução e obtenção de direitos autorais, patentes e outros direitos de propriedade, ou para transferir para a Empresa todos os direitos, títulos ou interesses em tais Criações ou trabalhos passíveis de proteção autoral.
	10.2 The Employee shall transfer to the Company all rights of property of such Creations, including author and patent rights, not being due any additional remuneration as a consequence of such transfer.  The Employee shall also execute all and any documents that the Company considers necessary to allow the request, the achievement and obtaining of author, patent and other property rights, or to transfer to the Company all rights, certificates or interests in such Creations or works likely to have author protection.

	11. POLÍTICAS INTERNAS E REGULAMENTOS
	11. INTERNAL POLICIES AND REGULATIONS

	O Empregado se compromete a cumprir com as políticas internas e regulamentos da Empresa e das empresas do grupo, incluindo, mas não se limitando ao Código de Conduta e Ética da Empresa e da NII e às políticas de Anti-Corrupção e FCPA , as quais são aceitas como parte integrante deste Contrato.
	The Employee undertakes to comply with the Company’s and companies’ group internal policies and regulations, including but not limited to the Company’s and NII’s Code of Conduct and Ethics and Anti-Corruption and FCPA Compliance Policy, which are hereby accepted as integral part of this Agreement.

	12. DISPOSIÇÕES GERAIS
	12. GENERAL PROVISIONS 

	12.1 Todos os valores constantes deste Contrato são brutos e estão sujeitos às deduções fiscais aplicáveis. 
	12.1 All the amounts mentioned in this Agreement are gross and are subject to applicable tax deductions. 

	12.2 As cláusulas deste Contrato são independentes entre si. Se alguma disposição deste Contrato estiver em desacordo ou se tornar obsoleta perante a Lei, as outras disposições continuarão válidas.
	12.2 The clauses of this Agreement are severable. Should any provision of this Agreement not stand or become redundant under the laws, the other provisions shall remain in effect.

	12.3 Este Contrato constitui o acordo integral entre as Partes e substitui todos os contratos anteriores, escritos ou verbais.
	12.3 This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements, whether in written or verbally.

	12.4 O foro da cidade de São Paulo, Estado de São Paulo, terá jurisdição exclusiva para dirimir quaisquer controvérsias relativas ao Contrato.
	12.4 The courts of the city of São Paulo, State of São Paulo, shall have exclusive jurisdiction to decide any controversies related to the Agreement.

	
		
	12.5 Este Contrato foi negociado, redigido e assinado em inglês e português. A versão em português prevalecerá em caso de conflito com sua versão em inglês.
	12.5 This Agreement has been negotiated, written and executed in Portuguese and English. The Portuguese version shall prevail in case of any inconsistence with its English translation.

	As Partes firmam o presente Contrato em 2 (duas) vias de igual teor e forma, na presença das 2 (duas) testemunhas abaixo assinadas.
	The Parties have executed this Agreement in two (2) counterparts of equal content and form before the (2) two witnesses specified below.

	São Paulo, 25 de agosto de 2015.

_________________________________
NEXTEL TELECOMUNICAÇÕES LTDA.

_________________________________
FRANCISCO TOSTA VALIM FILHO

Testemunhas:

1.____________________
Nome:
RG:

2.____________________
Nome:
RG:
	São Paulo, August 25, 2015.

_________________________________
NEXTEL TELECOMUNICAÇÕES LTDA.

_________________________________
FRANCISCO TOSTA VALIM FILHO

Witnesses:

1. ____________________
Name:
ID:

2. ____________________
Name:
ID:

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