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December 27, 2012
09:23 EDTORBCORBCOMM replaces prior pact with SpaceX with new agreement
ORBCOMM disclosed in a regulatory filing that the company and SpaceX terminated the Falcon 1e Launch Services Agreement dated as of August 28, 2009, replacing it with the new Falcon 9 Agreement. The companies entered into the Falcon 9 Agreement, under which SpaceX will provide launch services for the carriage into low-Earth-orbit of up to 18 ORBCOMM second-generation commercial communications satellites currently being constructed by Sierra Nevada Corporation. Under the Falcon 9 Agreement, SpaceX will also provide to ORBCOMM satellite-to-launch vehicle integration and launch support services, as well as certain related optional services. The total price under the Falcon 9 Agreement, excluding any optional services, is $42.6M, subject to certain adjustments. The amounts due under the Falcon 9 Agreement are payable by ORBCOMM in installments from the date of execution of the Falcon 9 Agreement through the performance of each Launch Service. The Falcon 9 Agreement anticipates that the Launch Services for 18 Satellites will be performed between the second quarter of 2013 and the second quarter of 2014, subject to certain rights of ORBCOMM and SpaceX to reschedule the Launch Services as needed.
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