Exhibit 10.15

 

[g51731kai001.jpg]

 

DIRECTOR COMPENSATION

(Effective May 22, 2007)

NAVTEQ pays fees (cash and equity compensation) to its non-employee directors as
set forth in the table below.(1)  Directors that are employees of NAVTEQ or
affiliates of NAVTEQ will not receive fees.  If a director who does not
currently receive fees becomes eligible as a non-employee director, they will be
treated for compensation purposes as a new non-employee director as of the date
of the change in status.

--------------------------------------------------------------------------------

(1) The Compensation Committee and Board of Directors approved this director
compensation program on February 13 and February 14, 2007, respectively.

The “annual” period to which the fees pertain is the period between the
Company’s successive Annual Meetings of Stockholders to elect directors (each an
“Annual Meeting”).

Annual Cash Compensation

 

Full Board

 

Retainer

 

$

60,000

 

 

 

Per-Meeting Fee (in excess of four (4) meetings)

 

$

1,500

 

Committee Members

 

Per Committee Fee (including Chairman)

 

$

7,500

 

 

 

(Additional) Audit Committee Chairman Fee

 

$

10,000

 

 

 

(Additional) Other Committee Chairman Fee

 

$

5,000

 

 

Annual Equity-Based Compensation

 

Restricted Stock Units (RSUs)

 

 

 

$

125,000

*

 

--------------------------------------------------------------------------------

*Dollar amount represents the fair value of the equity at the grant date (actual
stock price for RSUs)

Retainers and committee fees will be paid in quarterly installments on the first
day of each calendar quarter, beginning with the first full calendar quarter
following the Annual Meeting.  Directors who are elected or depart between
Annual Meetings will be paid full quarterly retainers and committee fees for
serving any portion of a quarter.  The payment of retainers for directors
elected in the middle of a quarter will be paid at the beginning of the quarter
following election.  Directors will only be paid four quarterly fees for each
“annual” period.

Per-meeting fees will be accrued after the fourth meeting attended during the
annual period.  Committee meetings and actions by written consent do not earn
per-meeting fees and are not considered in the per-meeting fee count.  Any
meeting that lasts less than 30 minutes will earn only a half-share of the
per-meeting fee, if applicable, but will count fully towards the four-meeting
threshold.  Per-meeting fees will not be accrued for a meeting that a director
does not

CONFIDENTIAL

--------------------------------------------------------------------------------

attend. Any per-meeting fees earned in a calendar quarter will be paid along
with the next quarterly retainers on the first day of the next calendar quarter.

The annual equity-based compensation will be granted as of the date of the
Annual Meeting.  For directors elected to the Board between Annual Meetings, the
annual equity-based compensation will be pro-rated based on the partial year of
service and will be granted on the date of election.

RSUs will vest on the first anniversary of the date of grant, and will be
distributed on the fifth anniversary of the date of grant or, if earlier, the
director’s date of resignation or termination from the Board of Directors.

NAVTEQ also reimburses members of the Board of Directors for travel, lodging and
other reasonable out-of-pocket expenses incurred in attending board and
committee meetings or conducting other board-related business.

 

--------------------------------------------------------------------------------