NII HOLDINGS INC (Form: 8-K, Received: 07/27/2017 06:04:09)

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 25, 2017

(Exact name of registrant as specified in charter)



Delaware (State or other jurisdiction of incorporation)	001-37488 (Commission File Number)		91-1671412 (IRS Employer Identification No.)

1875 Explorer Street, Suite 800 Reston, Virginia (Address of principal executive offices)		20190 (Zip Code)

Registrant's telephone number, including area code: (703) 390-5100

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously disclosed by NII Holdings, Inc. (the “Company”), the Board of Directors approved an organizational restructuring of the Company to further streamline expenses by shifting the costs and associated responsibilities from the Company’s headquarters in Reston, Virginia to its operating subsidiary in Brazil. In connection with this restructuring, the Board of Directors approved a Form of Separation and Release Agreement (the “Agreement”) for certain executive officers of the Company. The Agreements, which are expected to be executed by these officers in the event of their termination of employment with the Company, were provided to the officers on November 13, 2015. On April 25, 2017, the Company announced that Roberto Rittes had joined the Company as Chief Executive Officer, Nextel Brazil. In connection with Mr. Rittes’ appointment, Steven Shindler, Chief Executive Officer of the Company, agreed to remain with the Company to assist with the management transition. On June 5, 2017, the Company and AINMT Holdings AB (“AINMT”), an international telecommunications company operating primarily in Norway under the “ice.net” brand, along with certain affiliates of the Company and AINMT, entered into an agreement (the “Investment Agreement”) to partner in the ownership of Nextel Brazil.

On July 25, 2017, in connection with the foregoing and in response to stockholder feedback on the Company’s executive compensation program expressed through an advisory say-on-pay vote at the Company’s annual meeting, and with the transition of Mr. Rittes into his new role complete, the Board approved a termination date of August 1, 2017 for Mr. Shindler. As provided in the Agreement, Mr. Shindler will receive 200% of his base salary on his severance date. He will also be eligible for earned benefits, including a cash bonus for the second quarter of 2017 at the same achievement level as other eligible employees if and when it is paid, and a payment for earned and unused vacation. Mr. Shindler also remains eligible for a bonus payment pursuant to the Key Employee Incentive Plan (“KEIP”) approved by the bankruptcy court in connection with the Company’s sale of its operations in Mexico pursuant to the terms and conditions of the KEIP, if and when payments are made to other eligible employees. In addition, Mr. Shindler has agreed to continue to serve as a point of contact for AINMT and to facilitate the closing of AINMT’s investment as contemplated in the Investment Agreement, and the Agreement with Mr. Shindler was amended to provide for an additional payment of 200% of his annual target bonus and 18 months of COBRA benefits should the Company complete a transaction that meets the definition of Change of Control as defined in the Company’s Change of Control Severance Plan on or before July 31, 2018. These additional benefits align with the additional benefits Mr. Shindler would have been eligible for under the Company’s Change of Control Severance Plan.

The description of Mr. Shindler’s Separation and Release Agreement contained in this Form 8-K is qualified in its entirety by reference to the complete text of the Employment Agreement filed as Exhibit 10.1 to this report and incorporated herein by reference.

Mr. Shindler will continue to serve as a member of the Company’s Board of Directors and will receive $200,000 per year and health benefits in connection with this role.

Coincident with Mr. Shindler’s departure as an executive officer, Mr. Rittes will assume the role and perform the functions of principal executive officer of the Company. Mr. Rittes, 43, previously served as a key officer for Brazilian telecom companies Brasil Telecom and Oi Paggo, fr

om 2004 to 2011. Most recently, Mr. Rittes was a principal at H.I.G. Capital, a leading global private equity investment firm, from 2016 to 2017. Prior to that, Mr. Rittes served as Chief Financial Officer of Boa Vista Serviços, a Brazilian credit bureau managed by TMG Capital, from 2013 to 2016. From 2011 to 2012, Mr. Rittes served as Chief Financial Officer of Estre Ambiental, an environmental services group in Latin America managed by BTG and Angra. Mr. Rittes holds a master degree in business administration from Harvard Business School.

Mr. Rittes previously entered into an Employment Agreement with Nextel Brazil that provides for an annual base salary of R$2,400,000 and an annual bonus of up to R$4,800,000 paid quarterly and based on achievement of specific quarterly performance measures and targets set by the Compensation Committee of the Board of Directors. Mr. Rittes was also granted an equity award of 1,500,000 options in May 2017 with an exercise price of $0.5547 that vest ratably over three years from the date of grant. Should Mr. Rittes be terminated without cause, he will receive a severance payment of one times his annual base salary unless the legally mandated severance is greater than this amount. Pursuant to his agreement, Mr. Rittes is also eligible for medical, dental, customary executive insurance and meal vouchers.

The description of Mr. Rittes’ Employment Agreement contained in this Form 8-K is qualified in its entirety by reference to the complete text of the Employment Agreement filed as Exhibit 10.2 to this report and incorporated herein by reference.

In addition, the Agreements with Daniel Freiman, Chief Financial Officer, and Shana Smith, General Counsel, were updated to provide for a target termination date of April 1, 2018, but when termination will occur has not been determined. Mr. Freiman and Ms. Smith were also provided a payment equal to six months of base salary to be paid in August 2017 in connection with their agreement to remain with the Company. Should Mr. Freiman and Ms. Smith become eligible for benefits under the Company’s Change of Control Severance Plan, this payment will be deemed an advance of the amount due to these executives and will reduce the benefits due under the Company’s Change of Control Severance Plan.

Item 9.01. Financial Statements and Exhibits.

Exhibit No. Description

Separation and Release Agreement between NII Holdings, Inc. and Steven Shindler dated July 25, 2017.

Employment Agreement between Nextel Telecomunicações Ltda. and Roberto Rittes dated April 24, 2017.

Letter Agreement between NII Holdings, Inc. and Daniel Freiman dated July 25, 2017.

Letter Agreement between NII Holdings, Inc. and Shana Smith dated July 25, 2017.

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

By: /s/ Shana C. Smith

General Counsel and Secretary

Exhibit No. Description

Separation and Release Agreement between NII Holdings, Inc. and Steven Shindler dated July 25, 2017.

Employment Agreement between Nextel Telecomunicações Ltda. and Roberto Rittes dated April 24, 2017.

Letter Agreement between NII Holdings, Inc. and Daniel Freiman dated July 25, 2017.

Letter Agreement between NII Holdings, Inc. and Shana Smith dated July 25, 2017.

AMENDED AND RESTATED SEPARATION AND RELEASE AGREEMENT

This Amended and Restated Separation and Release Agreement (“Agreement”) is made by and between NII Holdings, Inc., a Delaware corporation ("NII"), and Steve Shindler (hereinafter “Employee”) on July 25, 2017. NII and Employee are collectively referred to as the “Parties” and individually as a “Party.”

WHEREAS, in connection with the wind down of its operations in Reston, Virginia, NII is undergoing a reduction-in-force that will result in the elimination of Employee’s position;

WHEREAS, NII desires to provide Employee with separation benefits to assist Employee in the transition from employment with NII;

WHEREAS, the parties to this agreement desire to resolve all issues, whether known or unknown, arising out of Employee’s employment and separation from employment in a mutually satisfactory manner, confidentially, and without resort to litigation; and

WHEREAS, this Agreement replaces and supersedes the prior Separation and Release Agreement dated November 13, 2015 and all amendments thereto.

NOW, THEREFORE, in consideration of the promises and of the mutual covenants herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties do hereby covenant and agree:

Termination of Employment; Separation Benefits

A. Employee will be terminated from employment due to job elimination on August 1, 2017 as described below (the “Termination Date”). In consideration of Employee’s acceptance of this Agreement:

1) NII shall pay Employee two times annual base salary. Using Employee’s base salary as of July 25, 2017, this would be $1,948,751.76. This amount is subject to increase based on the base salary in effect on the Termination Date and shall be paid to Employee in one lump sum, payable within twenty (20) business days of the Termination Date or the Effective Date (as defined below).

2) In the event that NII exercises its discretion to make a payment under NII’s cash bonus plan following the execution of this Agreement and that bonus covers a period prior to and including the Employee’s Termination Date, NII shall pay to Employee the unpaid prorated bonus to which Employee would have been entitled

based on NII’s actual performance and pursuant to the terms and conditions of the then applicable bonus plan if and when it is paid.

3) In the event that NII triggers a payment pursuant to the Key Employee Incentive Plan (the “KEIP”), as provided for in NII’s bankruptcy proceedings concluded in June 2015, NII shall pay to Employee his portion of the KEIP pursuant to the terms and conditions of the KEIP and when payments are made to other eligible employees.

4) In the event that on or before July 31, 2018 a transaction is completed that meets the definition of Change of Control as defined in NII’s Change of Control Severance Plan, as amended and restated effective November 2, 2015, NII shall pay to Employee an additional payment equal to 200% of Employee’s target annual bonus in effect on the Termination Date and 18 months of COBRA benefits in one lump sum, payable within twenty (20) business days of the closing date of such transaction.

B. Employee hereby agrees that NII will deduct from the above-described payments all withholding taxes and other payroll deductions that NII is required by law to make from wage payments to employees. Employee hereby agrees that the payments and performances described in this Agreement are all that Employee shall be entitled to receive from NII except for vested qualified retirement benefits, if any, to which Employee may be entitled under NII's ERISA plans. Employee further acknowledges and agrees that the payment described in Section 1(A) shall be deemed to satisfy NII’s obligations pursuant to NII’s Severance Plan (as amended and restated February 27, 2013) (the “Severance Plan”), that such payment represents the full amount payable to Employee under the terms of the Severance Plan, and that the Severance Plan requires Employee to execute this Agreement as a condition of receiving any such payments.

Employee hereby agrees and acknowledges that the benefits set forth in Section 1 of this Agreement are more than Employee would otherwise be entitled to receive under any of NII’s policies and procedures and that they are in addition to anything of value to which Employee already is entitled; and, specifically, that because execution of this Agreement is a condition of receiving any benefits under the Severance Plan, to the extent it would be deemed to apply to Employee’s termination, Employee is not otherwise entitled to any of the benefits set forth in Section 1. Employee acknowledges and agrees that the amount made payable to him is in complete satisfaction of any and all claims of any kind that he has made or could have in connection with his employment and separation from employment.

In exchange for the consideration set forth herein, Employee hereby knowingly and voluntarily releases and forever discharges NII and any related companies, including, without limitation, their affiliates, former and current employees, officers, agents, directors, shareholders, investors, attorneys, successors and assigns or any of them (the “Released Parties”) from all liabilities, claims, demands, rights of action or causes of action Employee had, has or may have against any of the Released Parties, including but not limited to any claims or demands based upon or relating to Employee’s employment with NII or the termination of that employment. This includes

but is not limited to a release of any rights or claims Employee may have under Title VII of the Civil Rights Act of 1964, which prohibits discrimination in employment based on race, color, national origin, religion or sex; the Equal Pay Act, which prohibits paying men and women unequal pay for equal work; the Age Discrimination in Employment Act of 1967, the (“ADEA”) which prohibits age discrimination in employment; the Americans with Disabilities Act, which prohibits discrimination against otherwise qualified disabled individuals; the Virginia Human Rights Act, which is a state statue prohibiting, among other things, employment discrimination; the Fairfax County Human Rights Ordinance, which is a local ordinance prohibiting, among other things, employment discrimination; or any other federal, state or local laws or regulations prohibiting employment discrimination. This also includes but is not limited to a release by Employee of any claims for wrongful discharge, breach of contract, under the Severance Plan, or any other statutory, common law, tort or contract claim that Employee had, has or may have against any of the Released Parties. This release covers both claims that Employee knows about and those that Employee may not know about.

Notwithstanding the foregoing, neither party is releasing any right to enforce this Agreement, and Employee is not releasing: (1) any vested qualified retirement benefits under NII’s ERISA plan (although it does include a release of all claims to benefits under the Severance Plan); (2) the right to continuation in NII’s medical plans as provided by COBRA; (3) any claims for unemployment compensation or workers compensation benefits or other rights that may not be released as a matter of law; (4) any claims solely relating to the validity of this general release under the ADEA, as amended; (5) any non-waiveable right to file a charge with the U.S. Equal Employment Opportunity Commission, the Occupational Safety and Health Act, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission (“Government Agencies”); or (6) any rights to indemnification pursuant to NII’s or any successor company’s Certificate of Incorporation, Delaware General Corporation Law or the Director and Officer Indemnification Agreement between the Parties. If a government agency were to pursue any matters that are released herein, Employee agrees that this Agreement will control as the exclusive remedy and full settlement of all such claims by Employee for money damages. However, Employee understands that this Agreement does not limit Employee’s ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency. This Agreement does not limit Employee’s right to receive an award for information provided to any Government Agencies.

Employee represents and warrants that Employee has no knowledge of any improper or illegal actions, misstatements or omissions by NII, is not aware of any facts or evidence that could give rise to such a claim, nor does Employee know of any basis on which any third party or governmental entity could assert such a claim. Employee further represents and warrants that he/she has fulfilled Employee’s duties to NII to the best of Employee’s abilities and in a reasonable and prudent manner, and that Employee has not knowingly engaged, directly or indirectly, in any actions or omissions that could be perceived as improper or unlawful, nor has Employee failed to report any such actions or omissions to NII. Employee further represents and warrants that he/she has been paid all compensation due and owing from NII as a result of Employee’s work, that he/she has received all rights to which Employee is entitled under the Family and Medical Leave Act, and that he/she is not suffering from any undisclosed illness or injury that would be compensable under NII’s workers’ compensation insurance.

Employee hereby acknowledges and agrees that this release is a general release and that by signing this Agreement, he is signing and agreeing to this release.

Non-Release of Future Claims

Employee understands and agrees that he is waiving any and all rights and claims under the ADEA. Employee agrees that his waiver of these ADEA claims is knowing and voluntary, and understands that he is forever releasing any such claims that might have arisen before the date of this Agreement. The Parties agree that the decision to terminate Employee’s employment has been made prior to the execution of this Agreement.

Encouragement to Consult with Attorney

Employee has had the opportunity to consult with an attorney and has been encouraged to do so prior to executing this Agreement.

Period for Review and Consideration of Agreement

Employee may have, if desired, 45 days within which to consider this Agreement, first proposed to him on November 13, 2015. Employee acknowledges and agrees that any changes made to this Agreement after it first was offered do not re-start the running of the 45-day period. Employee may execute the Agreement prior to the expiration of the 45-day period but in no event may he execute it prior to the Termination Date. Employee acknowledges that in the event he decides to execute this Agreement in fewer than 45 days, he has done so with the express understanding that he has been given and declined the opportunity to consider this release for a full 45 days. Employee acknowledges that his decision to sign the Agreement in fewer than 45 days was not induced by NII through fraud, misrepresentation, or a threat to withdraw or alter the offer prior to the expiration of the 45-day time period. Employee acknowledges receipt of the OWBPA document appended to this Agreement that contains the employees affected by this termination program and their titles and ages.

Employee's Right to Revoke Agreement

Employee may revoke this Agreement within seven (7) days of Employee's signing it. Revocation can be made by delivering a written notice of revocation to Shana Smith, General Counsel and Corporate Secretary, NII Holdings, Inc., 1875 Explorer Street, Suite 800, Reston, VA 20190. For this revocation to be effective, written notice must be received by Ms. Smith no later than the close of business on the seventh day after Employee signs this Agreement. If Employee has not revoked the Agreement, the eighth (8 ^th ) day after Employee signs this Agreement shall be the Effective Date for purposes of this Agreement.

Employee promises never to file a lawsuit asserting any claims that are released in Section 3 of this Agreement. In the event Employee breaches this Section 8, Employee shall pay to NII all of its expenses incurred as a result of such breach, including but not limited to, reasonable attorney’s fees and expenses.

Disclaimer of Liability

This Agreement and the payments and performances hereunder are made solely to assist Employee in making the transition from employment with NII, and are not and shall not be construed to be an admission of liability, an admission of the truth of any fact, or a declaration against interest on the part of NII.

Confidential Information/Return of Property

Employee covenants and agrees that Employee shall not use, divulge, publish or disclose to any person or organization, confidential information obtained by Employee during the course of Employee’s employment or related to Employee’s cessation of employment (“Confidential Information”). The Confidential Information consists of the following: (a) personal, financial, private or sensitive information concerning NII’s executives, employees, customers and suppliers; (c) information concerning NII’s finances, business practices, long-term and strategic plans and similar matters; (d) information concerning NII’s formulas, designs, methods of business, trade secrets, technology, business operations, business records and files; and (e) any other non-public information which, if used, divulged, published or disclosed by Employee, would be reasonably likely to provide a competitive advantage to a competitor or to cause any of NII’s executives or employees embarrassment. Employee further agrees to return immediately to NII all of NII’s property, if any, in Employee’s possession or under Employee’s control upon the Termination Date or such earlier date as Employee’s employment shall cease. Employee agrees that if he intentionally damages any NII property following notification of termination, this Agreement becomes null and void. Employee acknowledges that in addition to the promises contained in this Agreement, he remains bound by the Non-Competition and Confidentiality Agreement between the Parties.

Statements Regarding the Parties

The Parties agree not to do or say or write anything, directly or indirectly, that reasonably may be expected to have the effect of criticizing or disparaging the other Party. In addition, the Employee agrees not to do or say or write anything, directly or indirectly, that reasonably may be expected to have the effect of criticizing or disparaging any director of NII; any of NII’s employees, officers or agents; or diminishing or impairing the goodwill and reputation of NII or the products and services it provides. Employee further agrees not to assert that any current or former employee, agent, director or officer of NII has acted improperly or unlawfully with respect to Employee or any other person regarding employment.

Cooperation with Litigation

Employee will cooperate fully with NII in its defense of any lawsuit filed over matters that occurred during the course of Employee’s employment with NII, and Employee agrees to provide full and accurate information with respect to the same.

13. Litigation Assistance

Employee agrees that, unless compelled by valid subpoena or other court order, and in such case only after providing sufficient notice to NII of such subpoena or court order to allow NII a reasonable opportunity to object to the same, Employee shall not, directly or indirectly, assist any person or entity in connection with any potential or actual litigation against NII or any other of the Released Parties described in Section 3 of this Agreement.

14. Execution of Documents

Each of the Parties hereto shall execute any and all further documents and perform any and all further acts reasonably necessary or useful in carrying out the provisions of this Agreement.

15. Invalid Provisions

The invalidity or unenforceability of any particular provision of this Agreement shall not affect the validity or enforceability of any other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted.

Employee acknowledges that Employee has signed this Agreement freely and voluntarily without duress of any kind. Employee has conferred with an attorney or has knowingly and voluntarily chosen not to confer with an attorney about the Agreement.

17. Entire Agreement

This Agreement contains the entire understanding of Employee and NII concerning the subjects it covers and it supersedes all prior understandings and representations, except that Employee acknowledges and confirms the continuing effectiveness of the provisions of any Confidentiality Agreement between Employee and NII. NII has made no promises to Employee other than those set forth herein. This Agreement may not be modified or supplemented except by a subsequent written agreement signed by all Parties.

It is the intention of the parties that the provisions hereof be binding upon the Parties, their employees, affiliates, agents, heirs, successors and assigns forever.

This Agreement shall be governed by the laws of the Commonwealth of Virginia, without regard to its conflict of laws principles.

EMPLOYEE ACKNOWLEDGES THAT EMPLOYEE HAS READ THIS AGREEMENT, UNDERSTANDS IT, AND IS VOLUNTARILY ENTERING INTO IT. PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

IN WITNESS WHEREOF, the parties have executed this Agreement on the dates stated below.




Date	Steve Shindler

	NII HOLDINGS, INC.

July 25, 2017	By:
		Shana Smith
		General Counsel



EMPLOYMENT AGREEMENT By this private Employment Agreement executed between NEXTEL TELECOMUNICAÇÕES LTDA. , with head offices in the city of São Paulo, in the State of São Paulo, at Avenida das Nações Unidas, n.º 14.171, 27º floor, enrolled with the CNPJ/MF under no. 66.970.229/0001-67, by its undersigned legal representative, hereinafter referred to as EMPLOYER , and Mr . Roberto Rittes , resident and domiciled at ______, city of São Paulo, State of São Paulo, bearer of Employment Booklet No. ______ Series _____ Identity Card No. ________, enrolled with the CPF/MF under no. ______, hereinafter referred to as EMPLOYEE , have covenanted the following: CLAUSE 1 – OBJECT 1.1. The EMPLOYEE shall be hired by EMPLOYER , to perform the duties of CEO of the EMPLOYER , its immediate parent company and its subsidiaries, and in such role shall comply with all corporate laws and Articles of Association, labor rules, general communications and instructions, including the EMPLOYER ’s Code of Conduct and Business Ethics, in effect, as well as with any and all of the EMPLOYER ’s general policies in force to all employees. For the purposes of holding the CEO position, the EMPLOYEE agrees that as of April 24, 2017, he will be appointed under the Articles of Association of EMPLOYER , Employer’s immediate parent company and Employer’s subsidiaries in such capacity, for corporate purposes. 1.2. The EMPLOYEE undertakes to concurrently hold other corporate positions requested by the EMPLOYER in other companies of EMPLOYER ’s economic group, according to the needs of the EMPLOYER and within the scope of his duties, and agrees that in this event the remuneration for these services is included in the remuneration agreed upon in clause 4 and benefits of clause 5 herein. 1.3. The EMPLOYEE agrees that the EMPLOYER is entitled at any time to assign to him other compatible duties, in accordance with the EMPLOYERS’ technical or administrative needs. 1.4. The EMPLOYEE hereby undertakes to work exclusively for the EMPLOYER , dedicating his entire time, attention, skills and efforts to the progress and objectives of the EMPLOYER and companies of the same economic group. The EMPLOYEE shall not be involved, directly or indirectly, in any other businesses, profession or compensated occupation, or in any other form of relationship that may in any way conflict or interfere in the performance of his activities as Managing Director, without the prior written consent by EMPLOYER . CLAUSE 2 - TERM 2.1. This Agreement shall commence on April 24, 2017 and will remain valid for an undetermined term and continue unless or until terminated in accordance with this Agreement. CLAUSE 3 - WORKING HOURS 3.1. The services inherent to the position contracted are essentially of trust and, for this reason, included in the exception of subparagraph II of article 62 of the Restated Labor Laws, such that the EMPLOYEE is released from controlling and recording the hours of work. CLAUSE 4 - REMUNERATION 4.1. For the rendered services, EMPLOYEE shall receive from EMPLOYER a gross monthly salary of 184,615.38 Reais to be paid pursuant to the legislation in force, with salary adjustments made as provided by law. Applicable taxes will be deducted from the gross salary. 4.2. EMPLOYER is hereby authorized to deposit in a bank of EMPLOYEE’ s choice, in the EMPLOYEE’ s account, salaries, 13th salaries, vacation and any other sums that make up the EMPLOYEE ’s remuneration. 4.3. In addition to the legal deductions, EMPLOYER is hereby authorized to make the following deductions from salaries or from any other rights or credits related to the EMPLOYEE ’s remuneration: (a) any amounts owed by the EMPLOYEE , such as health insurance, meals, transportation expenses, or other deductions, as duly authorized; and (b) the amount equivalent to any losses and/or damages caused by misconduct, negligence, imprudence or lack of expertise of EMPLOYEE to EMPLOYER ’s property, including material of any kind which have been placed under his responsibility and not returned in due time. CLAUSE 5 – BENEFITS, EXPENSES AND VACATION 5.1. The EMPLOYEE will be entitled to an Annual Bonus of up to 4,800,000 Reais, comprised of quarterly payments of up to 1,200,000.00 Reais each fiscal quarter, starting with a prorated bonus for the second quarter of 2017, 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 Holdings, Inc. (“NII”), the ultimate controlling parent of EMPLOYER, based on the EMPLOYER ’s annual budget and a quarterly bonus 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. 5.2. The conditions in clause 5.1 may be determined from time to time, subject to EMPLOYER ’s sole discretion. 5.3. The EMPLOYER shall reimburse the EMPLOYEE for reasonable expenses incurred by the EMPLOYEE on behalf of the EMPLOYER , in the performance of the EMPLOYEE ’s duties during the term of this Agreement in accordance with the normal policies of the EMPLOYER for reimbursement of business expenses. The EMPLOYEE shall furnish to the EMPLOYER with respect to the expenses receipts and/or invoices and with any other. 5.4. 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; (d) Meal or food allowance in the amount of R$ 32 per business day of each month; (e) Private Pension Plan with the EMPLOYER ’s contribution at the same percentage as the participant’s contribution, capped at 10% of the base salary; (f) Free parking; and (g) Cellphone with all expenses borne by the Company and three additional phones for family members. 5.5. The benefits mentioned above will be granted according to the Company´s policies and they may vary from time to time, including the services provider of those benefits. CLAUSE 6 – ADDITIONAL SEVERANCE PROTECTION 6.1 Should the EMPLOYEE be terminated without cause and the mandated amount of termination fees in Brazil paid by virtue of termination without cause (“Legal Severance”) be less than the gross amount of 2,400,000 Reai, the Employee shall be eligible for an additional payment regarding Legal Severance in order to reach the gross amount of 2,400,000 Reais (“Additional Severance”). 6.2 The Parties acknowledge and agree herein that voluntary termination ( EMPLOYEE ’s resignation) and termination for cause are excluded from the Additional Severance established in clause 6.1 and will not result in payment of the Additional Severance. CLAUSE 7 - CONFIDENTIALITY 7.1 During the term of this Agreement and for a period of 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. 7.2 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. 7.3 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. 7.4 The Employee must return, upon the request of the Company or the termination of this Agreement, any and all materials containing Confidential Information. 7.5 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. CLAUSE 8 – COMPETITIVE ACTIVITIES AND NON-SOLICITATION 8.1. EMPLOYEE hereby agrees that during the term of this Agreement, and for a term of one year immediately after the termination thereof, for any reason, in the Brazilian territory in which EMPLOYEE has performed his services for the EMPLOYER , EMPLOYEE shall not (i) use his knowledge in any work or activity that competes with the EMPLOYER ’s activities, directly or indirectly, either as owner, partner, representative, consultant or employee, nor shall he help, work for, or have interest in any suppliers or customers of EMPLOYER ; (ii) create or acquire any interest in any company or groups carrying on any activities competing with those carried on by the EMPLOYER . For the avoidance of doubt, EMPLOYER includes any companies of its economic group in Brazil. 8.2. The provision contained in clause 8.1 above, shall also apply in the event of termination of this Agreement for any reason. 8.2.1. If the EMPLOYER wishes to enforce its right to require that the EMPLOYEE does not compete with the EMPLOYER after termination of this Agreement, for the term mentioned in clause 8.1 above, the EMPLOYER shall, no later than five business days after the date of termination of the employment of EMPLOYEE , send a written notification to the EMPLOYEE , informing the EMPLOYER ’s intention to exercise such option. EMPLOYER is entitled after such notification to release EMPLOYEE from the restriction in clause 8.1 at any time and will then no longer be required to pay the indemnification set out in clause 8.2.1.1. 8.2.1.1. The exercise of the EMPLOYER 's option for EMPLOYEE 's non competition obligation shall be conditioned to the payment, by EMPLOYER, of an indemnification in the amount equivalent to one month of salary for each month of non-competition. 8.2.1.2 . Any amount paid by the EMPLOYER in connection with the non-competition obligation shall be returned by the EMPLOYEE, duly indexed, in case of EMPLOYEE' s violation of any restriction clauses provided in this Agreement, including the non-compete provision, and in that case, no future payment will be due by the EMPLOYER in connection with such non-competition obligation . 8.3. Non-Solicitation of Employees and Clients . During the term of this Agreement and for a period of one year thereafter, 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 . CLAUSE 9 – TITLE TO INVENTIONS OR CREATIONS 9.1. 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. 9.2. 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. CLAUSE 10 –ANTI-CORRUPTION 10.1. The EMPLOYEE shall fully comply with all legal provisions applicable with respect to ethical conduct and anti-corruption, including, but not limited to, laws and regulations of the Federative Republic of Brazil, specially Law No. 12.846/2013 and the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, and the American legislation regarding the Foreign Corrupt Practice Act (“FCPA”), under the penalty of being punished for gross negligence, under the laws in effect. CLAUSE 11 – SEVERABILITY 11.1. EMPLOYEE hereby agrees that clauses 7, 8 and 9 of this Agreement ("Restrictive Covenants") are reasonable from a geographical and time perspective. 11.2. Any term, clause or provision of this Agreement which is rendered as not valid or not applicable, shall be deemed as null without invalidating or rendering as not applicable the remaining clauses and provisions hereof. 11.3. The extension and reach of each provision hereof shall be construed only to the extent of its applicability. CLAUSE 12- GENERAL PROVISIONS 12.1. Any lack of application, under special circumstances, of any clause of this Agreement on the EMPLOYER ’s part shall not constitute novation to the Agreement. 12.2. Nothing in this Agreement shall be construed as a waiver on the EMPLOYER ’s part of any rights to which it is entitled at any time by the legislation applicable hereto. 12.3. EMPLOYEE is aware of EMPLOYER ’s regulations and Safety Standards that rule EMPLOYER’ s activities and undertakes to use all safety equipment provided, when and if required, under the penalty of being punished for gross negligence, under the terms of the laws in effect. 12.4. In case of EMPLOYEE ’s nonperformance of the terms and conditions agreed upon herein in relation to the Restrictive Covenants, EMPLOYER will have the right to claim proven losses and damages caused by the EMPLOYEE . 12.5. This Agreement and the documents to be entered into pursuant to it, save as expressly otherwise provided therein, shall be governed by and construed in accordance with the Laws of Brazil. CLAUSE 13- TERMINATION 13.1. The Parties hereby acknowledge and agree that both the EMPLOYER or the EMPLOYEE may terminate this Agreement and the employment relationship, at any time, by means of written notice of the termination of the employment relationship. 13.2. In addition to the reasons provided for in Article 482 of the Labor Code, any breach of any of the clauses herein, in whole or in part, shall be a cause for the termination of this Agreement, without the need of prior notice or any judicial or extra-judicial formality. 13.3. The EMPLOYEE undertakes to comply with all legal provisions and policies related to Occupational Health and Safety. 13.4. This Agreement is executed in two counterparts in both the Portuguese and English language, organized in columns. The parties agree that the Portuguese version shall prevail in case of any controversy or conflict of the terms and conditions herein agreed. AND, as a result of the provisions hereof, the parties have executed this Agreement in two identical counterparts of equal contents and form. São Paulo, April 24, 2017 _________________________ Roberto Rittes _____________________________ NEXTEL TELECOMUNICAÇÕES LTDA. Witnesses: 1. Name and ID Card 2. Name and ID Card	CONTRATO DE TRABALHO Pelo presente instrumento particular, firmado entre NEXTEL TELECOMUNICAÇÕES LTDA. , com sede na cidade de São Paulo, Estado de São Paulo, na Avenida das Nações Unidas, n.º 14.171, 27º andar, inscrito no CNPJ/MF sob o nº 66.970.229/0001-67, por seus representantes legais, a seguir denominado EMPREGADOR e SR. Roberto Rittes, residente e domiciliado na ______, na Cidade de São Paulo, Estado de São Paulo, portador da CTPS de n. ______, Series _____ portador do RG ______, inscrito no CPF/MF n. ______, aqui denominado simplesmente EMPREGADO , convencionaram os seguintes termos: CLÁUSULA 1 – OBJETO 1.1. O EMPREGADO é contratado pelo EMPREGADOR para exercer a função de CEO (Diretor Presidente) do EMPREGADOR , sua controladora e suas subsidiárias, obrigando-se a cumprir com todas as obrigações societárias legais e dos contratos sociais, normas trabalhistas e comunicações e instruções gerais do EMPREGADOR, incluindo o Código de Conduta e de Ética Empresarial do EMPREGADOR em vigor, bem como em relação a toda e qualquer política do EMPREGADOR aplicável a todos os seus empregados. Para o exercício do cargo de CEO (Diretor Presidente), o EMPREGADO concorda que a partir de 24 de abril de 2017, ele será nomeado para tal fim, nos termos previstos nos Contratos Sociais do EMPREGADOR , sua controladora e suas subsidiárias, nessa qualidade, para fins societários. 1.2. O EMPREGADO concorda que poderá ser requisitado a prestar serviços para outras empresas do mesmo grupo econômico do EMPREGADOR , de acordo com as necessidades do EMPREGADOR e dentro do escopo de suas atribuições, sendo que, em tal circunstância, o pagamento relativo a esses serviços já está incluído na remuneração acordada na cláusula 4ª e nos benefícios previstos na cláusula 5ª, infra. 1.3. O EMPREGADO concorda que o EMPREGADOR poderá designar-lhe outras atribuições compatíveis, a qualquer tempo e conforme suas necessidades de ordem técnica ou administrativa. 1.4. O EMPREGADO, por este instrumento, obriga-se a trabalhar exclusivamente para o EMPREGADOR , dedicando todo seu tempo, atenção, habilidades e esforços ao progresso e interesses do EMPREGADOR e das empresas que integram seu grupo econômico, sendo-lhe vedado exercer, direta e indiretamente, outra atividade, profissional ou ocupação remunerada ou qualquer outra forma de relacionamento que possa conflitar ou interferir na performance ou nas suas atividades como Diretor Executivo, salvo com prévia autorização, por escrito, por parte do EMPREGADOR . CLÁUSULA 2 – TERMOS 2.1. Esse Contrato tem início em 24 de abril de 2017 e vigorará por tempo indeterminado, até que seja rescindido nos termos previstos neste Contrato. CLÁUSULA 3 - DA DURAÇÃO DA JORNADA DE TRABALHO 3.1. As funções inerentes ao cargo assumido são essencialmente de confiança e, estão, portanto, incluídas na exceção prevista no parágrafo II do artigo 62 da Consolidação das Leis do Trabalho, sendo o EMPREGADO liberado de controlar e registrar a sua jornada de trabalho. CLÁUSULA 4 - DA REMUNERAÇÃO 4.1 Pelos serviços, o EMPREGADO receberá o salário bruto de R$ 184.615,38 (cento e oitenta e quatro mil, seiscentos e quinze reais e trinta e oito centavos), pagos mensalmente, conforme a legislação em vigor, sendo os reajustes de salário feitos de acordo com a lei. Os impostos aplicáveis serão deduzidos do salário bruto. 4.2 O EMPREGADOR fica autorizado a depositar em instituição bancária de sua escolha, na conta corrente do EMPREGADO , salários, 13º salários, férias e quaisquer outras importâncias que se refiram à remuneração do EMPREGADO . 4.3 Além dos descontos legais, fica o EMPREGADOR autorizado a descontar da remuneração ou de quaisquer outros direitos ou créditos de natureza trabalhista do EMPREGADO : (a) as importâncias de que o EMPREGADO for devedor, relativas a assistência médica, refeições, transporte, ou outros descontos já devidamente autorizados; e (b) o valor de prejuízos e/ou danos a que o EMPREGADO der causa em virtude de dolo, negligência, imprudência ou imperícia, ao patrimônio do EMPREGADOR , inclusive materiais de qualquer natureza, sob sua responsabilidade e não devolvidos no tempo devido. CLÁUSULA 5 – DOS BENEFÍCIOS, DESPESAS E FÉRIAS 5.1. O EMPREGADO fará jus a um Bônus Anual de até R$ R$ 4.800.000,00, composto por pagamentos trimestrais de até R$ 1.200.000,00 por trimestre fiscal, começando com um bônus proporcional para o segundo trimestre de 2017, se as metas mínimas trimestrais especificadas forem atingidas. As Partes reconhecem e concordam que as métricas e metas de desempenho específicas do EMPREGADO referente a cada trimestre serão estabelecidas pelo Comitê de Remuneração do Conselho de Administração da NII Holdings, Inc. (“NII”), controladora do EMPREGADOR , com base no orçamento anual do EMPREGADOR e um plano de bônus trimestral, e cada pagamento do bônus trimestral cada será condicionado ao atingimento das metas mínimas em todas métricas de desempenho e sujeito à aprovação do Comitê de Remuneração do Conselho de Administração da NII. Todos os valores aqui indicados são brutos. 5.2. As condições da cláusula 5.1 podem ser alteradas de tempos em tempos, de acordo com a discricionariedade do EMPREGADOR . 5.3. O EMPREGADOR reembolsará o EMPREGADO por despesas razoáveis incorridas pelo EMPREGADO em nome do EMPREGADOR , no exercício das suas funções durante a vigência do presente Contrato em conformidade com as políticas do EMPREGADOR para reembolso de despesas relacionadas ao trabalho. O EMPREGADO deverá apresentar para o EMPREGADOR todos os recibos de despesas e/ou faturas ou qualquer outra documentação quando solicitado pelo EMPREGADOR . 5.4. 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; (d) Vale refeição ou alimentação no valor de R$ 32, por dia útil de cada mês; (e) Plano de previdência privada com contribuição do EMPREGADOR no mesmo percentual da contribuição do participante, limitada a 10% do salário nominal; (f) Estacionamento gratuito; e (g) Telefone celular com despesas pagas pelo EMPREGADOR e 3 celulares adicionais para membros da família. 5.5. Os benefícios acima mencionados serão concedidos de acordo com as políticas da Sociedade e poderão variar de tempos em tempos, incluindo os prestadores de serviços desses benefícios. CLÁUSULA 6 – PAGAMENTO ADICIONAL DE VERBAS RESCISÓRIAS 6.1. Caso a rescisão contratual do EMPREGADO seja sem justa causa e o valor das verbas rescisórias legalmente previstas no Brasil seja inferior ao valor bruto de R$ 2.400.000,00, o EMPREGADO será elegível para receber um pagamento adicional de Verbas Rescisórias para atingir o valor bruto de R$ 2.400.000,00 (“Pagamento Adicional de Verbas Rescisórias”). 6.2. As Partes reconhecem e concordam neste ato que a rescisão voluntária (pedido de demissão do empregado) e a rescisão por justa causa estão excluídas do Pagamento Adicional de Verbas Rescisórias estabelecido na cláusula 6.1 e não haverá o pagamento Adicional de Verbas Rescisórias. CLÁUSULA 7 - DA CONFIDENCIALIDADE 7.1. Durante a vigência deste Contrato e pelo período adicional de 1 (um) ano após o seu término, o Empregado se compromete a não utilizar, divulgar ou de qualquer outra forma revelar Informações Confidenciais da Sociedade a que tenha acesso no desenvolvimento de suas atividades . 7.2. Informações Confidenciais para os fins deste Contrato, inclui, sem limitação, empregados e remunerações, planos de aquisição, políticas de preços, métodos de trabalho e operações, estratégias comerciais, estratégias de negócios e de 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 Sociedade ou de qualquer de suas afiliadas. 7.3. Caso o Empregado venha a ser obrigado por força de lei a divulgar quaisquer Informações Confidenciais, ele deverá imediatamente notificar a Sociedade sobre o fato para que esta possa, tomar todas as medidas que julgar necessárias a fim de: (i) evitar a divulgação das Informações Confidenciais; ou (ii) instruir o Empregado sobre a forma de divulgação das Informações Confidenciais devem ser divulgadas. O Empregado deverá tomar todas e quaisquer medidas necessárias para cooperar com a Sociedade para manter confidenciais as Informações Confidenciais. As medidas a serem tomadas pelo Empregado incluem, exemplificativamente, o pedido às autoridades judiciais ou administrativas aplicáveis do tratamento confidencial das Informações Confidenciais. 7.4. O Empregado deverá restituir, a pedido da Sociedade ou no término do presente Contrato, todos e quaisquer materiais que contenham Informações Confidenciais. 7.5. A violação da obrigação de confidencialidade implicará em rescisão por justa causa deste Contrato, sem prejuízo das sanções penais decorrentes de procedimento criminal e sanções civis. CLAUSE 8 – DAS ATIVIDADES COMPETITIVAS E NÃO SOLICITAÇÃO 8.1. O EMPREGADO concorda que durante a vigência do presente Contrato e 1 (um) ano imediatamente após o seu término, por qualquer motivo, no território brasileiro em que EMPREGADO tenha realizado seus serviços para o EMPREGADOR , o EMPREGADO não poderá (i) usar seu conhecimento em qualquer trabalho ou atividade que compete com as atividades do EMPREGADOR , direta ou indiretamente, seja como proprietário, sócio, representante, consultor ou empregado, nem pode ajudar, trabalhar ou ter interesse em quaisquer fornecedores ou clientes do EMPREGADOR ; (ii) criar ou adquirir qualquer participação em qualquer empresa ou grupo que exerçam quaisquer atividades que competem com as atividades desenvolvidas pelo EMPREGADOR. Para que não restem dúvidas, o EMPREGADOR inclui quaisquer empresas do seu grupo econômico no Brasil. 8.2. A disposição contida na cláusula 7.1 acima, é igualmente aplicável em caso de rescisão deste Contrato por qualquer motivo. 8.2.1. Se o EMPREGADOR quiser fazer valer o seu direito de exigir que o EMPREGADO não compita com o EMPREGADOR após o término deste Contrato, pelo prazo mencionado na cláusula 8.1 acima, o EMPREGADOR deve, em até cinco úteis após a data de cessação do contrato de emprego, enviar uma notificação por escrito ao EMPREGADO , informando a intenção do EMPREGADOR de exercer tal opção. O EMPREGADOR tem o direito de após essa notificação liberar o EMPREGADO da restrição na cláusula 8.1 a qualquer momento e, então, deixar de ser obrigado a pagar a indenização prevista na cláusula 8.2.1.1. 8.2.1.1. O exercício da opção do EMPREGADOR para a obrigação de não concorrência do EMPREGADO deve ser condicionada ao pagamento, pelo EMPREGADOR , de uma indenização no valor equivalente a um mês de salário para cada mês de não-concorrência. 8.2.1.2. Qualquer quantia paga pelo EMPREGADOR em conexão com a obrigação de não concorrência deve ser devolvido pelo EMPREGADO , devidamente indexado, em caso de violação de quaisquer cláusulas de restrição previstas no presente Acordo, incluindo a cláusula de não concorrência, e, nesse caso, nenhum pagamento futuro será devido pelo EMPREGADOR face a essa obrigação de não concorrência. 8.3. Não-Aliciamento (a empregados e clientes) . Durante a vigência deste Contrato e 1 (um) ano após a sua rescisão, o Empregado está proibido de: (a) direta ou indiretamente, incentivar um ou mais dos empregados da Sociedade a deixar a Sociedade e aceitar um emprego com atividade concorrente com a Sociedade; ou (b) direta ou indiretamente, incentivar ou ajudar qualquer pessoa no sentido de incentivar qualquer conselheiro, diretor, empregado, agente, consultor, agente autônomo, ou qualquer outra pessoa afiliada com a Sociedade para rescindir ou alterar a sua relação com a Sociedade; ou (c) direta ou indiretamente, incentivar um ou mais dos clientes da Sociedade para, no todo ou em parte, deixar de contratar a Sociedade ou transferir o seu negócio para um concorrente da Sociedade. CLAUSE 9 – TITULARIDADE DE INVENÇÕES OU CRIAÇÕES 9.1 Todas e quaisquer invenções, descobertas, melhorias, ideias, conceitos, criações ou quaisquer direitos suscetíveis ou não de registro perante órgãos de Propriedade Industrial ou Intelectual no Brasil ou no exterior, que tenham sido criados ou desenvolvido pelo Empregado, a qualquer tempo, relacionados a quaisquer atividades executadas por ele em nome da Sociedade Empresa (“ Criações ”) serão de total e exclusiva propriedade da Sociedade. 9.2. O Empregado deverá transferir à Sociedade 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 Sociedade julgar necessários para permitir o pedido, a consecução e obtenção de direitos autorais, de patentes ou outros direitos de propriedade, ou para transferir para a Sociedade todos os direitos, títulos ou participações em tais Criações ou trabalhos passíveis de proteção autoral. CLAUSE 10 –ANTICORRUPÇÃO 10.1. O EMPREGADO deve cumprir plenamente todas as disposições legais aplicáveis no que diz respeito à conduta ética e combate à corrupção, incluindo, mas não se limitado as leis e regulamentos da República Federativa do Brasil, especialmente a Lei nº 12.846/2013 e a Convenção sobre o Combate Corrupção de Funcionários Públicos Estrangeiros em Transações Comerciais Internacionais, assim como a legislação americana sobre a Prática Lei de Corrupção no Exterior ("FCPA"), sob pena de ser punido por negligência grave, nos termos das leis em vigor. CLAÚSULA 11 - INDEPENDÊNCIA DAS CLÁUSULAS 11.1. O EMPREGADO concorda que as cláusulas 7, 8 e 9 deste Contrato ("Cláusulas Restritivas") são razoáveis no propósito geográfico e temporal. 11.2. Qualquer termo, cláusula ou disposição deste Contrato que não tenha validade ou não seja aplicável, ficará sem efeito, sem com isto invalidar ou tomar inaplicáveis as cláusulas e disposições restantes. 11.3. A extensão e alcance de cada dispositivo do presente contrato será interpretada somente na extensão de sua aplicabilidade. CLÁUSULA 12 - DISPOSIÇÕES GERAIS 12.1. Não constituirá novação contratual a falta de aplicação por parte do EMPREGADOR do pactuado em alguma cláusula deste Contrato, em atendimento a circunstâncias especiais. 12.2 . Nenhuma disposição do presente Contrato poderá ser interpretada como renúncia, por parte do EMPREGADOR , de qualquer direito a ele assegurado a qualquer tempo pela legislação aplicável a este Contrato. 12.3. O EMPREGADO fica ciente do regulamento da empresa e das Normas de Segurança que regulam suas atividades no EMPREGADOR e se compromete a usar os equipamentos de segurança fornecidos, se e quando necessária a utilização, sob pena de ser punida por falta grave, nos termos da legislação vigente. 12.4. No caso de descumprimento, pelo EMPREGADO , dos termos e condições no presente pactuado em relação às cláusulas 6, 7 e 8 acima (“Cláusulas Restritivas”), fica assegurado ao EMPREGADOR o direito de reclamar perdas e danos comprovadamente causados ao seu patrimônio. 12.5. Este Contrato e os documentos a serem celebrados nos termos da mesma, salvo disposição expressa em contrário neste Contrato, devem ser regidos e interpretados de acordo com as leis do Brasil. CLAUSE 13- DA RESCISÃO 13.1. As Partes reconhecem e concordam que tanto o EMPREGADOR ou o EMPREGADO pode denunciar o presente Contrato e a relação de trabalho, a qualquer momento, por meio de aviso prévio por escrito do término da relação de trabalho. 13.2. Além das causas previstas no artigo 482 da CLT, constituem justa causa para a rescisão de pleno direito do presente Contrato qualquer infração, no todo ou em parte, das cláusulas nele contidas, independentemente de notificação ou de qualquer formalidade judicial ou extrajudicial. 13.3. O EMPREGADO se obriga a cumprir com todas as disposições legais e políticas relacionadas com Segurança e Medicina do Trabalho. 13.4. Este Contrato será celebrado em 2 (duas) vias, com ambas as versões em português e inglês dispostas em colunas. As partes concordam que a versão em português é a única versão válida no caso de divergência de interpretação dos termos e condições aqui estabelecidos. POR ESTAREM ASSIM, JUSTAS E AVENÇADAS, as partes assinam o presente Contrato, em duas (2) vias idênticas, de mesmo teor e forma. São Paulo, 24 de abril de 2017. ________________________ Roberto Rittes _____________________________ NEXTEL TELECOMUNICAÇÕES LTDA. Testemunhas: 1. Nome e RG 2. Nome e RG

Re: Amended and Restated Separation and Release Agreement

In consideration of your agreement to remain with NII Holdings, Inc. (“NII”) through April 1, 2018, in addition to the benefits set forth in the Amended and Restated Separation and Release Agreement between you and NII (the “Separation and Release Agreement”) provided to you on July 25, 2017, NII agrees to provide you with a payment equal to six months of your annual base salary on August 15, 2017 (the “Additional Severance”). The Additional Severance is in addition to any amounts due to you under the Separation and Release Agreement.

In the event that you are eligible for benefits pursuant to NII’s Change of Control Severance Plan, as amended and restated effective November 2, 2015, on your termination date, the Additional Severance will be deducted from the total amount due to you pursuant to the Change of Control Severance Plan.

Re: Amended and Restated Separation and Release Agreement

Chief Executive Officer


10.1	Separation and Release Agreement between NII Holdings, Inc. and Steven Shindler dated July 25, 2017.


10.2	Employment Agreement between Nextel Telecomunicações Ltda. and Roberto Rittes dated April 24, 2017.


10.3	Letter Agreement between NII Holdings, Inc. and Daniel Freiman dated July 25, 2017.


10.4	Letter Agreement between NII Holdings, Inc. and Shana Smith dated July 25, 2017.


3.	Complete Release


8.	No Future Lawsuits