X0305 4 2012-05-22 0 0001006269 LORAL SPACE & COMMUNICATIONS INC. LORL 0001233421 SIMON ARTHUR L 971 HAVERSTRAW RD SUFFERN NY 10901 1 0 0 0 Restricted Stock Units 2012-05-22 4 A 0 1701 0 A Common Stock 1701 1701 D Each restricted stock unit has a value equal to one share of Loral voting common stock, par value $0.01 per share (the "Stock"), and generally provides the grantee with the right to receive one share of Stock or cash equal to one share of Stock, at the option of the Company, on the settlement date. The restricted stock units vest on the earlier of (i) the first anniversary of the grant date (or, if earlier, the date of the Company's first regular annual meeting of stockholders held after the grant date); or (ii) the termination of the grantee's service as a director of the Company by reason of death or permanent disability, provided the grantee remains a director through the applicable vesting date. Vested shares (or cash equal to the value of such shares, in the Company's discretion) will be delivered to the grantee on the earliest of (a) the date of the grantee's death; (b) the date the grantee undergoes a Separation from Service with the Company (as defined in the applicable treasury regulations) and (c) the date of consummation of a Change of Control (as defined in the applicable treasury regulations). Avi Katz, Attorney-in-Fact 2012-05-23