Exhibit 10.3



 Exhibit 10.3 
 AMENDMENT NO. 1 
 TO THE 

FULL SCALE SYSTEM DEVELOPMENT CONTRACT 
 No. IS-10-021 
 Between 

IRIDIUM SATELLITE LLC 
 And 
 THALES ALENIA SPACE FRANCE 

for the 

IRIDIUM NEXT SYSTEM 
 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE 
 COPY
FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY 
 REQUEST. OMISSIONS ARE DESIGNATED [***. . .***]. A COMPLETE
VERSION OF THIS EXHIBIT 
 HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 







 PREAMBLE 
 This Amendment No. 1 (the “Amendment”) to the Full Scale System Development Contract No. IS-10-021 signed on June 1, 2010 between Iridium Satellite LLC and Thales Alenia Space France
for the Iridium Next System(the “Contract”) is entered into on this 6th day of August, 2010 by and between Thales Alenia Space France, a company organized and existing under the laws of France, having its registered office at 26 avenue Jean François Champollion 31100
Toulouse – FRANCE (“Contractor”), and Iridium Satellite LLC, a limited liability company organized under the laws of Delaware, having an office at 1750 Tysons Boulevard, Suite 1400, McLean, VA 22102 - USA
(“Purchaser”). 
 RECITALS 
 WHEREAS, Purchaser and Contractor have entered on the date hereof into an Amendment No. 1 to the ATP relating to the purchase by Contractor of [***...***] relating to the [***...***]
firm fixed price of the Work to be performed under the ATP and Contract; 
 WHEREAS, Purchaser and Contractor have engaged in discussions
relating to changes they would like to incorporate in the Contract to implement the [***...***] in relation to Articles 1 and 4 of the Contract; and 
 WHEREAS, the Parties now desire to amend Articles 1 and 4 of the Contract in accordance with the terms and conditions provided for in this Amendment; 

NOW, THEREFORE, in consideration of the payments to be made by Purchaser to Contractor under the Contract and ATP, and other valid consideration
and the mutual covenants and agreements contained in the Contract and ATP, this Amendment, and intending to be legally bound, the Parties agree as follows: 
 Article 1: Capitalized terms used but not defined in this Amendment shall have the meanings ascribed thereto in the Contract, the ATP or any amendments thereto, as the case may be.

 Article 2: The definition of “Spot Rate” in Article 1.106 of the Contract is hereby deleted and replaced in its
entirety by the following: 
 “Spot Rate” means the lower of: (i) [***...***], or as applicable,
[***...***], as determined in accordance with [***...***] of the ATP; and (ii) the exchange rate expressed as the amount of U.S. Dollars per one Euro as reported by the [***...***] on the scheduled Financial Close date, or such other
page that may replace such page for the purpose of displaying such exchange rate, provided, however, that if such page is no longer published and no replacement page is designated, Purchaser and Contractor, In consultation with leading financial
institutions, shall determine such affected rate in good faith and in a commercially reasonable manner.” 

  

			
	 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE

COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY

REQUEST. OMISSIONS ARE DESIGNATED [***. . .***]. A COMPLETE VERSION OF THIS EXHIBIT

HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
	  	1

 Iridium / Thales Alenia
Space Confidential & Proprietary 








 Article 3: A new definition for [***...***] is added immediately following the definition
of “Spot Rate” in Article 1.106 of the Contract, with the rest of the definitions in Article 1 of the Contract accordingly re-numbered” 
 [***...***] means: (i) [***...***] and (ii) [***...***]. 
 Article 4:
Article 4.1 of the Contract “Base Contract Price” is hereby deleted and replaced in its entirety by the following: 

“4.1 Base Contract Price Prior to [***...***], the total price for the Work to be performed under this Contract shall
include firm fixed price Euro and U.S. Dollar portions as follows: 
  

					
	 Firm fixed price Euro portion:
	  	€	1,056,432,400	  
	 Firm fixed price U.S. Dollar portion:
	  	$	863,189,121	 ̈ 

  ̈ The firm fixed price U.S. Dollar portion includes an [***...***] for [***...***]. Such [***...***] includes a fixed price component of
[***...***] and a time and materials portion expected to be [***...***]. If the price for this [***...***] is less or more than [***...***], the firm fixed price U.S. Dollar portion under this Contract shall be [***...***].
Contractor agrees and acknowledges that it shall endeavour on a reasonable efforts basis to [***...***], including the fixed price and time and materials portions thereof. The firm fixed price U.S. Dollar portion also includes an
[***...***] purchase price for the [***...***] provided for in the ATP for purposes of addressing [***...***] associated with the firm fixed price Euro portion. If the actual price for purchase of [***...***], the firm fixed price
U.S. Dollar portion under this Contract shall be [***...***].” 
 Article 5: Article 4.2.2(b) of the Contract
[***...***] is hereby deleted and replaced in its entirety by the following: [***...***] 
 Article 6: Exhibit D of the
Contract “Payment Plan” is hereby amended to incorporate the following Milestone: 
 M/S N° 003A 

Milestone: [***...***] 
 Months after EDC: EDC + [***...***] 
 Planned date: [***...***] 

USD$: [***...***] 

Article 7: All other provisions of the Contract not expressly referred to in this Amendment remain in full force and effect. 

IN WITNESS WHEREOF, the Parties have executed this Amendment by their duly authorized officers as of the date set forth in the Preamble.


  

			
	 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE

COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY

REQUEST. OMISSIONS ARE DESIGNATED [***. . .***]. A COMPLETE VERSION OF THIS EXHIBIT

HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
	  	2

 Iridium / Thales Alenia
Space Confidential & Proprietary 








  

							
	IRIDIUM SATELLITE LLC	 		  	THALES ALENIA SPACE FRANCE	  	
				
	/s/ Thomas J. Fitzpatrick	 		  	/s/ Olivier Janin	  	
	Thomas J. Fitzpatrick	 		  	Olivier Janin	  	
				
	CFO	 		  	VP Trade Finance	  	


  

			
	 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE

COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY

REQUEST. OMISSIONS ARE DESIGNATED [***. . .***]. A COMPLETE VERSION OF THIS EXHIBIT

HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
	  	3

 Iridium / Thales Alenia
Space Confidential & Proprietary