EchoStar renegotiates Jupiter 3 satellite contract with Maxar, securing financial concessions and delay protections.

EchoStar CORP

Amendment waives approximately $14M in payments through orbit-raising and $44.5M (plus 6% interest) in deferred in-orbit incentives.
Maxar must pay additional liquidated damages for further delays: $8M/month from July 2023, rising to $10M/month from October 2023.
EchoStar gains termination right if Jupiter 3 satellite not delivered by January 1, 2024, with refund provisions.
EchoStar to provide services to Maxar in 2023 for at least $30M margin under a separate agreement.
Launch of the Jupiter 3 satellite still expected in the first half of 2023 based on current Maxar schedule.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

EchoStar CORP amended Amendment with Maxar Space LLC (effective 2022-11-16).

Action: amendment
Agreement: supply
Counterparty: Maxar Space LLC
Effective: 2022-11-16

Exact text from the filing

On November 16, 2022, EchoStar XXIV L.L.C. (the “Company”), a subsidiary of EchoStar Corporation, entered into an amendment (the “Amendment”) to the Contract between the Company and Maxar Space LLC (“Maxar”) for the Jupiter 3 Satellite Program (the “Contract”).

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Source: SEC EDGAR

accession 0001104659-22-121208

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