(e) NII Holdings, Inc. (the "Company") entered into a Separation Agreement dated December 21, 2012 (the "Separation Agreement") with Steven P. Dussek, who resigned as the Chief Executive Officer of the Company effective December 13, 2012 (the "Separation Date"). Under the Separation Agreement, Mr. Dussek will receive the following payments in accordance with the Company's Severance Plan:
(i) a severance payment of $946,000, which is equal to 12 months of Mr. Dussek's annualized base salary on the Separation Date (the "Severance Payment") and (ii) a pro-rated annual incentive bonus under the Company's 2012 Bonus Plan, based on the number of days he was actually employed by the Company during 2012 and calculated using a rating of "consistently meets expectations" for the personal performance component thereof (the "Bonus Payment"). In consideration of the observation by Mr. Dussek of certain restrictive covenants agreed to in the Separation Agreement for a period of two years after the Separation Date, Mr. Dussek will receive a payment of $1,346,000. The Company and Mr. Dussek also mutually release all claims. Due to the requirements of Section 409A of the Internal Revenue Code of 1986 and pursuant to Company policy, payment of the Bonus Payment and $429,000 of the Severance Payment will be delayed for a period of six months after the Separation Date. A copy of the Separation Agreement is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Pursuant to the terms of the Company's 2012 Incentive Compensation Plan and in accordance with the terms of their governing agreements, all unvested equity awards held by Mr. Dussek as of the Separation Date were forfeited. Pursuant to the terms of their governing agreements, Mr. Dussek's vested stock options will remain exercisable for 90 days after the Separation Date.

Item 9.01    Financial Statements and Exhibits.

Exhibit No.   Description

10.1          Separation Agreement, dated December 21, 2012, between NII Holdings,
              Inc. and Steven P. Dussek