Grant of Warrant and Other Rights for Contractor Clause Samples

Grant of Warrant and Other Rights for Contractor. A. In furtherance of Contractor’s agreeing to defer certain payments in accordance with Article 5.7 and 5.8, MSV shall provide to Contractor a Warrant to purchase 626,002 shares of SkyTerra Communications’ common stock at a strike price of Ten Dollars ($10.00) per share. The Warrant will have a ten-year life from the effective date of Contract Amendment 3 and will vest in and be exercisable by Contractor on a proportional basis consistent with MSV’s drawdown against the $40 Million of Additional Construction Deferrals outlined in the Warrant Agreement (attached hereto in Exhibit N) which shall be considered formally and automatically incorporated into this Contract upon Boeing’s execution. B. Furthermore, MSV agrees to establish quarterly financial reviews with Contractor’s Finance executives and will provide current financial information as well as progress with capital raising efforts until the full amount of any Original Construction Deferrals and Additional Construction Deferrals, including all accrued interest and applicable Guarantee Fees, are paid in full to Contractor.