O3b FCC Bond no KO 8

OTHER submitted by O3b Limited

O3b Bond

2012-10-24

This document pretains to SES-LIC-20100723-00952 for License on a Satellite Earth Station filing.

IBFS_SESLIC2010072300952_972913

Bond Number: K08689908 Federal Communications Corporation (FCC) NGSO Satellite System Bond KNOW ALL PERSONS BY THESE PRESENTS, That O3b Limited (hereinafter called the Principal), and Westchester Fire Insurance Company, a corporation ofthe state of New York (hereinafter called the Surety), are held and firmly bound unto the United State Treasury(hereinafter called the Obligee), in the maximum penal sum of Two Million 00/100 Dollars ($2,000,000) to the payment of which sum, well and truly be made, the Principal and Surety bind themselves, and each of their heirs, administrators, cxccutors and assigns, jointly and severally, firmly by these presents. Regardless of the number of years this bond may be in force, the aggregate liability of the Surety payable under this bond shall not be cumulative and is limited to the stated maximumpenal sum. WHEREAS, the Principal‘s application for a Hawaii gateway earth station to communicate with the O3b NGSO satellite system has been granted by the Federal Communications Commission ("FCC"), and the Principal is required to launch and operate such satellite system in accordance with the terms and conditions set forth in its FCC Radio Station Authorization dated September 25, 2012 (File No. SES—LIC— 20100723—00952; Call Sign E100088), which authorization is hereby referred to and made a part of hereof. WHEREAS, in accordance with the conditions of the authorization granted by the FCC, the Principal must file a payment bond with FCC within 30 days of the application being granted (October 25, 2012), NOW, THEREFORE, THE CONDITION OF THE ABOVE OBLIGATION IS SUCH, thatifthe Principal shall well and truly perform the obligations in said authorization at the time and in the manner specified during the term ofthis bond, then this obligation shall be void, otherwise to remain in full force and effect. PROVIDED, HOWEVER, That this bond is subject to the following conditions: 1. NGSO satellite system must be constructed, launched, and placed into operation in accordance with the technical parameters and terms and conditions of the grant authorization by the following specified time periods—milestoncs. a. Launch and place the first satellite in the system into operation within one year of grant (September 25, 2013). b. Bring all eight satellites into operation within three years, six months of grant (March 25. 2016). 2. Upon completion of the first milestone, confirmation of which will be filed with the FCC by Principal, and issuance of a Public Notice bythe FCC confirming same, the maximum peral sum of the bond shall be reduced by 50% (Fifty Percent) via a rider to this bond sent to the FCC and the Obligee. 3. In the event of a Notice of Default (i.e. an order or public notice revoking Principal‘s authorization) issued by the FCC to the Principal and the Surety regarding the performance of the milestones specified above during the term of this bond, the Surety shall be liable onlyup to the current outstanding maximum penal sum amount after giving effect to applicable milestone reductions. It is also understood and unconditionally agreed that upon receipt of such Notice of Default, the sole remedy under this bond will be the tender of paymentof the current outstanding

maximum penal sum of the bond (taking into account subsequentriders to the maximum penal sum of the bond described above) within thirty (30) business days of such Notice of Default. Any such Notice of Default made under this bond shall be made in writing and shall be given a personal deliveryor expedited deliveryservice, postage pre—paid, addressed to the parties at the addresses specified below: To the Surety: Westchester Fire Insurance Company 1133 Avenue of the Americas New York, NY 10036 To the Principal: O3b Limited St Johns Manor Offices Le Neuf Chemin St John, JE3 4EH Jersey Attention: CFO With a required copy to: 03b Networks Management Services BV Johan van Oldenbarneveltlaan 5 2582 NE. Den Haag The Netherlands Attention: General Counsel 4. Noright of action shall accrue on this bond to or for the use of any person or corporation other than the Obligee named herein or the heirs, executors, administrators or successors of the Obligee. 5. If anyconflict or inconsistency exists between the Surety‘s obligations or undertakings as described in this bond and as described in other documents, statutes or regulations, then the terms of this bond shall prevail. This bond shall be effective _15th_day of October, 2012 and shall cease at such time as the FCC confirms that the Principal has satisfied all the milestones set forth in paragraph 1. Signed and sealed this 15thday of _October , 2012 . Principal: 03 BY;: mssy (Witness) Surety: Westchester Fire Insurance Company ay. V BC1 Peter Healy, Attorney—in—Fact Pspatad . (Witness)

STATE OF NEW YORK COUNTY OF NEW YORK On tolis /J.DIéL before me, the undersigned, a Notary Public in and for said county, personally appeared 1ra. "Hioly who is to me well‘known, who being duly sworn, did depose and say that he‘ resides in New York, NY that he is Attorney—in—Fact of ULtadcheaton. JiAe »Abnotiurmnmew oru .a corporation, the corporation described in and who executed the withif instrument as surety. That he knows the seal of said corporation; that the seal affixed to said instrument is such corporate seal; thatit was thereto affixed by order to the Board of Directors of said corporation, and that he signed his name thereto by like order. Francesca Moser Notary Public, State of New York No. O1MO4842535 Certificate Filed in Suffolk County Commission Expires May 20, 2014

Power of WESTCHESTER FIRE INSURANCE COMPANY Attorney Know all men by these presents: That WESTCHHTER FIRE INSURANCE COMPANY, a corporation of the Commonwcnhh of Pennsylvantia pursuant to the following Resolution, adopted by theBoard of Directors of the said Company on December 11, 2006, to wit: "RESOLVED, tht he folloing muthorizlions elat t th execution, for ind on befulfothe Coempany, ofbonds, underiakings, recognizances,Eontricsand atherwriten commitments ofthe Company enitedino ‘he ondinay esurse obusinest {coch A"Wnluo ) Each of ths Chiirmad,the Ptmdmtlnlllw‘\"‘w Presidents of he Company is befeby authorized to exestoany Wen Comilment it ind on betalofshs Company. under lbuul of the Company or olherie. Bach duly sppointed attomey—itfctofthe Cnmpuui hereby aultiieed to execule wy Witen Conlimentforn on Bebalf of the Company, undcrlm seal ofthe Company or otheniise, o the exiont mul wich actlon ismuthorizad by t grintopowes provided forit suchpersons writitn apmumu as such attomeytefuct. TBich 6ftheChaitinan,the Psident and the Vise Presidents 6fthe Company is hereby nuthorized,for and on behalfof he Company, 1 appoint in wriitg y perion the atomey—in—fact oftheCompiiy with Tallpsiwerand suthorly to exeetié, for and onbetlfoie Conpany, under thesal ofieCompany or othervise, such Witten Commtmints ofhe Company as may bespecified in such writen appointment, whichspecifiation m be by gereral tyor clane ofWrinin Comnilmontsor by specifietion of onor more partcir Wten Comniitnents. Each ofthe Chiirinan, the Prsident and Vice Presidenti fthe Company in beteby auhorized, forn on betalf ofthe Company, to delegats in yriing ay iher oficer othe Compny the suthoriio axseats, fr and on behalFof the Company,under he Compiny‘s seal or ohanwls, such Writen Commitments of the Company as e speciid in such writen delegation, which spectfieation may be by ‘penersltype or clas of We Commitmmani orby specifiation of one or more prsicular Writen Comiitmonts "Thesignatire of iny offieer orohér prson ExeeatingatyWt Commitmentorappointmentor délegation pursuant o this Ressluson,and the seal of e Conipany, maybe afficed by foesmily on such Writen Commitment or wrilenappoiateigao deleytion. < FURTHERRESOLVED, tatthe foregoing xgnlm,mnxndrmtb- detmed id be an exclinive stateminof the powers and authority of affiens, mnloy:zmd other persons toactFor and on behalf ofthe Company, and ruch Resolutiogshllnolimitor otherniseaffect he Exercie ofny sudh power o sutionity otherwise valldly grantedovésted — Does hereby nominate, constitute ind appoinFrancesca Papu, James Holland, Mary Lawrence, Migdalia Otero, PeterHealy, Terry Arin Gonzales—Selman, Theresn Giraldo, Vincént Moy, all of the City of NEW YORK, New York, each individually if there be more than onnamed, its true and lewful attorney—in—fact, to make, execute, seal and deliver on its behalf, and as itssct and deed any and all bonds, undértékings, reéognizances, contracts and other writings in the nature thercof in penalties not sxceeding Twenty—million dollats & zer0 cents ($20,000,000.00) and the execution of such writings in pursuance of these presents shall be as binding upon said Company; as fully and amply as if they had been duly executed and acknowledged by the regularly elected officers ofthe Company at its principal office, IN WITNESS WHEREOF, the said Stephen M: Haney, Vice—President, has hereunto :ubscrihed his name and affixedthe Corporafe seal of the said WESTCHESTER FIRE INSURANCE COMPANY:this 14 day of September 2011. ; $ ‘ WESTCHESTER FIRE INSURANCE COMPANY mf COMMONWEALTH OFPENNSYLVANIA COUNTY OF PHILADELPHIA ss On this 14 day—of September; AD, 2011 before. me, a Notary.Public ofthe Commonwealth of Pennisylvania in:and for the County of Philadelphia came Stephen M. Haney ,Vice—Presidentof the WESTCHESTER FIRE INSURANCE—COMPANY to me personally known to be the individual and officer who executed the preceding instrument, and he acknowledged that ho executed the same, and that the seal affixed to the pmczdlng instrument is the corporate seal of said Company; that the said corporate seal und his signature were duly affoxed by the aumomy and direction of the said corporation; and that Resolution, adopted by the Board of . Directors of said Company, referredto in the preceding instrument, is naw in force. TN TESTIMONY WHEREO®, T‘have hereunto setmy hand and affixed my official seal at the City of Philadelphia the‘day and yearfirst above written. Super Salaty® AviTL.FRAUProtecrion 1, the undersigned Assistant Secretary of the WESTCHESTERFIRE INSURANCE COMPANY, do hereby certify that the original PDWER.OF ATTORNEY, of which the foregoing is a substantially thie and eon'ect ¢opy, is in full forde and effect. In witress whereof, I have hereunto subscribed my riome as Assistant Secretary, and affixed the corporate seal of the Corporation, this /A5day of ,flcfdwa 4 J-M J. THIS POWER OF ATIORNEY MAY NOT BE USED TOEXECUTE ANY BOND WITH AN INCEPTION.DATE AFTER September 14, 2013. roni mo.seoos The rack or tHis nocinrNt | isTs varinus secinrry rratunes m That wii protect acainet copy colnTEReEIt aNn alTenation

WESTCHESTER FIRE INSURANCE COMPANY — NAIC# 10030 FINANCIAL STATEMENT DECEMBER 31, 2011 ADMITTED ASSETS BONDS $2,125,068,507 SHORT — TERM INVESTMENTS 21,324,395 STOCKS o REAL ESTATE o CASH ON HAND AND IN BANK 38,678,940 PREMIUM IN COURSE OF COLLECTION® 49,457,492 INTEREST ACCRUED 18,572,101 OTHER ASSETS 167,396.134 TOTAL ASSETS $2,420,497,569 LIABILITIES RESERVE FOR UNEARNED PREMIUMS $187,860,407 RESERVE FOR LOSSES 1,095,977,795 RESERVE FOR TAXES 2,747,690 FUNDS HELD UNDER REINSURANCE TREATIES 5,745,573 OTHER LIABILITIES 23,542,125 TOTAL LIABILITIES 1.315,873,590 CAPITAL: 70,000 SHARES, $71.43 PAR VALUE 5,000,100 CAPITAL: PAID IN 289,280,640 AGGREGATE WRITE—INS FOR SPECIAL SURPLUS FUNDS 112,002,723 SURPLUS (UNASSIGNED) 698,340,516 SURPLUS TO POLICYHOLDERS 1,104,623,979 TOTAL $2,420,497,569 (*EXCLUDES PREMIUM MORE THAN 90 DAYS DUE.) STATE OF PENNSYLVANIA COUNTY OF PHILADELPHIA John P. Taylor, being duly sworn, says that he is Vice President of Westchester Fire Insurance Company and that to the best of his knowledge and belief the foregoing is a true and correct statement of the said Company‘s financial condition as of the 31 st day of December, 2011. Viée President C pust x relS" Notary Public My corgmission expires COMMONWEALTH OE PENNSYLVANIA Notarla Seal uk lane Wright, Notary Pul Phiadeiphia County $ Cly nrf)]gr:‘;ade::ghla, ires Aug, 8, 2015 EXDIES mnsen, enneyuyhith AssocatiON


Document Created: 2012-10-23 11:00:25
Document Modified: 2012-10-23 11:00:25
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