Exhibit 10.42



 Exhibit 10.42 
 Form of Stock Option Agreement 
 IRIDIUM COMMUNICATIONS INC.

 2009 STOCK INCENTIVE PLAN 
 STOCK OPTION GRANT NOTICE 
 Iridium Communications Inc., a Delaware
corporation (the “Company”), pursuant to its 2009 Stock Incentive Plan (the “Plan”), hereby grants to the individual identified below (“Participant”) a stock option to purchase the number of shares
of the Company’s common stock, $0.001 par value (the “Shares”) set forth below at the Option Price set forth below (the “Option”). This Option is subject to all of the terms and conditions set forth herein and
in the Stock Option Agreement attached hereto as Exhibit A (the “Agreement”) and the Plan, both of which are incorporated herein by reference. Any capitalized terms not otherwise defined in this Stock Option Grant Notice (the
“Grant Notice”) or in the Agreement shall have the meanings ascribed thereto in the Plan. 
 Participant:
                                         
                                    

Grant Date:
                                         
                                    

Total Number of Shares Subject to Option:
                        
 Option Price (Per Share):
$                                        
            
 Total Option Price:
$                                        
                       
 Expiration Date:
                                        
                             

 

			
	Type of Option:	  	     Incentive Stock Option (“ISO”)      Nonqualified Stock Option
		
	Vesting Schedule:	  	Subject to the terms and conditions of the Plan, the Agreement and this Grant Notice, this Option will vest and become exercisable as follows:
		
		  	In no event, however, shall this Option vest or become exercisable for any additional Shares following the termination of Participant’s continuous
Employment.

 By his or her signature below, Participant agrees to be bound by the terms and conditions of the Plan, the Agreement
and this Grant Notice (together, the “Grant Documents”). Participant has reviewed the Grant Documents in their entirety and fully understands all provisions of the Grant Documents. Participant hereby agrees to accept as binding,
conclusive and final all decisions or interpretations of the Committee upon any questions arising under or relating to the Grant Documents. 
  

									
	IRIDIUM COMMUNICATIONS INC.	 		 	PARTICIPANT
					
	By:	 	  
	 		 	By:	 	  

	Print Name:	 	  
	 		 	Print Name:	 	  

	Title:	 	  
	 		 	Address:	 	  

	Address:	 	  
	 		 		 	  



 

			
	Attachments:	 	Stock Option Agreement (Exhibit A)
		 	Form of Exercise Notice (Exhibit B)
		 	Iridium Communications Inc. 2009 Stock Incentive Plan (Exhibit C)
		 	Iridium Communications Inc. 2009 Stock Incentive Plan Prospectus (Exhibit D)








 EXHIBIT A 

TO STOCK OPTION GRANT NOTICE 
 STOCK OPTION AGREEMENT 
 Pursuant to the Stock Option Grant Notice (the
“Grant Notice”) to which this Stock Option Agreement (the “Agreement”) is attached, Iridium Communications Inc. (the “Company”) has granted to Participant a stock option under the Iridium
Communications Inc. 2009 Stock Incentive Plan (the “Plan”) to purchase the number of Shares specified in the Grant Notice upon the terms and conditions set forth in the Plan, the Grant Notice and this Agreement (together, the
“Grant Documents”). Capitalized terms not defined in this Agreement shall have the meaning specified in the Grant Notice or, if not defined therein, the Plan. 
 The Option shall be subject to the terms and conditions set forth below: 
 1.
Grant of Option. In consideration of Participant’s agreement to remain in the service or employ of the Company or an Affiliate and for other good and valuable consideration, effective as of the Grant Date set forth in the Grant Notice,
the Company irrevocably grants to Participant an Option to purchase a portion or all of the total number of Shares set forth in the Grant Notice, upon the terms and conditions set forth in the Grant Documents. Unless designated as an ISO in the
Grant Notice, the Option shall be a nonqualified stock option. 
 2. Exercise Price. The exercise price of the Shares
subject to the Option shall be the Option Price set forth in the Grant Notice; provided that the Option Price per Share subject to the Option shall not be less than 100% of the Fair Market Value of a Share on the Grant Date. Notwithstanding
the foregoing, if this Option is designated as an ISO and Participant owns (within the meaning of Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or any Subsidiary or
“parent corporation” of the Company (as defined in Section 424(e) of the Code), the exercise price per Share subject to the Option shall not be less than 110% of the Fair Market Value of a Share on the Grant Date (or the date the
Option is modified, extended or renewed for purposes of Section 424(h) of the Code). 
 3. Exercisability of Option.

 (a) Subject to the limitations contained herein, the Option will vest and become exercisable as set forth in the Grant Notice,
provided that vesting will cease upon the termination of Participant’s continuous Employment. For the purposes of this Agreement, in the event of an involuntary termination of continuous Employment, the termination shall be effective, and
vesting shall cease, as of the date stated in the relevant notice of termination and, unless otherwise required by law, will not be extended by any notice period or other period of leave. Subject to applicable law, the Company shall determine the
date of termination in its sole discretion. 
 (b) Notwithstanding the foregoing, if Participant’s continuous Employment is
terminated at any time during the twelve (12) month period following a Change in Control (i) by the Company or an Affiliate without “Cause” (as defined below) or (ii) if Participant has entered into an employment or other
agreement with the Company or any Affiliate, by Participant for “Good Reason” (provided, however, that such term is defined in Participant’s agreement), the unvested portion of the Option shall automatically become
vested and exercisable upon such termination. 

  
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 (c) In the event Participant is an employee of the Company or an Affiliate eligible for
overtime compensation under the Fair Labor Standards Act of 1938, as amended (a “Non-Exempt Employee”), and except as otherwise provided in this Section 3(c), Participant may not exercise the Option until Participant has completed at
least six (6) months of Employment measured from the Grant Date set forth in the Grant Notice. Notwithstanding the foregoing, consistent with the provisions of the Worker Economic Opportunity Act, (i) in the event of Participant’s
death or Disability (as defined in Section 4 below), (ii) upon a Change in Control, or (iii) upon Participant’s retirement (as such term may be defined in a written agreement between the Company and Participant or in accordance
with the Company’s then current employment policies and guidelines), the vested portion of the Option may be exercised earlier than six (6) months following the Grant Date set forth in the Grant Notice. This Section 3(c) is intended
to operate so that any income derived by a non-exempt employee of the Company or an Affiliate in connection with the exercise or vesting of the Option will be exempt from such employee’s regular rate of pay. 

4. Term. Participant may not exercise the Option before the commencement of its term on the Grant Date or after its Expiration
Date. Subject to the provisions of the Grant Documents, Participant may exercise all or any part of the vested portion of the Option at any time prior to the earliest to occur of: 

(a) the date on which Participant’s continuous Employment is terminated for Cause; 

(b) three (3) months after Participant’s Employment terminates for any reason other than Cause, death or Disability;

 (c) six (6) months after the termination of Participant’s continuous Employment due to Participant’s death or
“Disability” (as defined below); 
 (d) the Expiration Date indicated in the Grant Notice; provided that if
this Option is designated as an ISO and Participant owned (within the meaning of Section 424(d) of the Code), at the time the Option was granted, more than 10% of the total combined voting power of all classes of stock of the Company or any
Subsidiary or any “parent corporation” of the Company (as defined in Section 424(e) of the Code), the Expiration Date shall be no longer than five years from the Grant Date. 
 For purposes of this Agreement, “Cause” shall have the meaning given to such term in any employment or other agreement between Participant and the Company or an Affiliate, or, if no such
employment or other agreement exists or if Cause is not defined therein, “Cause” shall mean the Company’s or an Affiliate’s, as applicable, termination of Participant’s Employment due to Participant’s: (i) willful
failure to substantially perform Participant’s duties, as set forth in an employment agreement or otherwise (other than any such failure resulting from Participant’s Disability); (ii) willful failure to carry out, or comply with, in
any material respect, any lawful and reasonable directive of the Board, the board of directors of any Affiliate or Participant’s superiors that is applicable to Participant; (iii) Participant’s commission at any time of any act or


  
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omission that results in, or that may reasonably be expected to result in, a conviction, plea of guilty or no contest or imposition of unadjudicated probation for any felony or a lesser crime
involving moral turpitude; (iv) unlawful use (including being under the influence) or possession of illegal drugs on the Company’s or an Affiliate’s premises or while performing Participant’s duties and responsibilities; or
(v) commission at any time of any act of fraud, embezzlement, misappropriation, material misconduct or breach of fiduciary duty against the Company or any Affiliate. 
 For purposes of this Agreement, “Disability” shall have the meaning given to such term in the employment or other agreement between Participant and the Company or an Affiliate, or, if no
such employment or other agreement exists or if Disability is not defined therein, “Disability” shall mean Participant’s “permanent and total disability (within the meaning of Section 22(e)(3) of the Code). 

5. Special Tax Consequences for ISOs. If the Option is designated as an ISO in the Grant Notice, Participant acknowledges that, to
the extent that the aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which ISOs, including the Option, are exercisable for the first time by Participant in any calendar year exceeds
$100,000, the Option and such other options shall be nonqualified stock options to the extent necessary to comply with the limitations imposed by Section 422(d) of the Code. Participant further acknowledges that the rule set forth in the
preceding sentence shall be applied by taking the Option and other ISOs into account in the order in which they were granted, as determined under Section 422(d) of the Code and the Treasury Regulations thereunder. 

6. Method of Payment. 
 (a) Payment of the Option Price for the Option being exercised is due in full upon exercise of all or any part of the vested Option. Participant may elect to make payment of the Option Price in cash or by
check or wire transfer (or any combination thereof). Alternatively, in the Committee’s sole discretion at the time the Option is exercised and to the extent permitted by applicable law, Participant may pay the Option Price by (i) delivery
of a notice that Participant has placed a market sell order with a broker with respect to Shares then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the
Company in satisfaction of the aggregate Option Price for such Shares; provided, that payment of such proceeds is then made to the Company upon settlement of such sale, (ii) delivery of Shares having a Fair Market Value equal to the
aggregate Option Price for the Shares being purchased that are not subject to any pledge, encumbrance or other security interest and satisfy such other requirements as may be imposed by the Committee; provided further, that such Shares
have been held by Participant for no less than six months (or such other period as established from time to time by the Committee in order to avoid adverse accounting treatment under applicable accounting principles); (iii) any other payment
method provided under the Plan that the Committee may approve; or (iv) any combination of cash (or an approved cash equivalent) and any of the foregoing. 
 (b) Concurrently with the exercise of the Option, Participant must pay to the Company in cash (or by check or wire transfer) any amount that the Company determines it is required to withhold under
applicable federal, state or local or foreign tax laws in respect of the exercise or the transfer of such Shares; provided that the Committee may, in its sole discretion, allow such withholding obligation to be satisfied by any other method
described in Section 4 of the Plan. 

  
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 (c) If Participant is permitted to pay the Option Price of such nonqualified stock option
and/or taxes relating to the exercise of an Option by delivering Shares, Participant may, subject to procedures satisfactory to the Committee, satisfy such delivery requirement by presenting proof that Participant is the beneficial owner of such
Shares, in which case the Company shall treat the Option as exercised and/or the taxes paid, as applicable, without further payment and shall withhold such number of Shares from the aggregate number of Shares acquired upon exercise of the Option.

 7. Exercise Procedures. 
 (a) Subject to Section 8 below and other relevant terms and conditions of the Plan and this Agreement, Participant may exercise the vested portion of the Option during its term by delivering a
completed and signed Exercise Notice (substantially in the form attached as Exhibit B to the Grant Notice) together with the Option Price to the Secretary of the Company, or to such other person as the Company may designate, during regular
business hours, together with such additional documents as the Company may then require. 
 (b) Any exercisable portion of the
Option or the entire Option, if then wholly exercisable, may be exercised in whole or in part at any time prior to the time when the Option or portion thereof becomes unexercisable under Section 4; provided, that each partial exercise
shall be for not less than 100 Shares (or, if less, the maximum number of shares for which the Option is vested and exercisable at such time) and shall be for whole Shares only. 

(c) By exercising the Option, Participant agrees that, as a condition to such exercise, Participant and Participant’s spouse, if
requested by the Company, contemporaneously with the exercise of the Option and prior to the issuance of any certificate representing the Shares purchased upon such exercise, shall execute any agreements by and among the Company and the
Company’s stockholders which shall then be applicable to the Shares to be issued to Participant, including any and all amendments to such agreements in effect at the time of such exercise, and agree to comply with any and all restrictions which
then apply to holders of Shares (or the securities which at that time are to be issued upon the exercise of the Option). 
 8.
Securities Law Compliance. Notwithstanding anything to the contrary contained herein, Participant may not exercise the Option unless the Shares issuable upon such exercise are then registered under the Act or, if such Shares are not then so
registered, the Company has determined that such exercise and issuance would be exempt from the registration requirements of the Act. The exercise of the Option must also comply with other applicable law governing the Option, and Participant may not
exercise the Option if the Company determines that such exercise would not be in compliance with applicable law. 
 9.
Limitations on Transfer of Option. Unless expressly permitted by the Committee in the case of an Option that is not designated as an ISO, the Option is not transferable, except by will or by the laws of descent and distribution, and is
exercisable during Participant’s life only by Participant. Notwithstanding the foregoing, (a) the Option will be transferable pursuant to a domestic relations order and (b) by delivering written notice to the Company (in a form
satisfactory to the Company), Participant may designate a third party who, in the event of Participant’s death, shall thereafter be entitled to exercise the Option. 

  
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 10. Rights as Stockholder. The holder of the Option shall not be, nor have any of the
rights or privileges of, a stockholder of the Company in respect of any Shares purchasable upon the exercise of any part of the Option unless and until such Shares shall have been issued by the Company to such holder (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in
Section 9 of the Plan. 
 11. No Right to Employment or Additional Options or Awards. The Option granted hereunder
shall impose no obligation on the Company or any Affiliate to continue Participant’s Employment and shall not lessen or affect the Company’s or any Affiliate’s right to terminate such Employment. Neither Participant nor any other
Person shall have any claim to be granted any additional Option or any other Award and there is no obligation under the Plan for uniformity of treatment of Participants, or holders or beneficiaries of Options or other Awards. The terms and
conditions of the Option granted hereunder or any other Award granted under the Plan (or otherwise) and the Committee’s determinations and interpretations with respect thereto and/or with respect to Participant and any recipient of an Option or
other Award under the Plan need not be the same (whether or not Participant and any such other recipient are similarly situated). 
 12. Notices; Electronic Delivery. 
 (a) Any notice to be given under
the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the address given beneath the signature of the Company’s authorized officer on the Grant Notice, and any notice to be given
to Participant shall be addressed to Participant at the address given beneath Participant’s signature on the Grant Notice or at the last known address for Participant contained in the Company’s records. Any notices provided for in this
Agreement or the Plan shall be given in writing and shall be deemed effectively given upon receipt, or in the case of notices delivered by mail, five days after deposit in the United States mail (or with another delivery service), certified or
registered mail, return receipt requested, postage prepaid. Notwithstanding the foregoing, the Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and the Option by electronic means or to request
Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and, if requested, to agree to participate in the Plan through an online or electronic system
established and maintained by the Company or another third party designated by the Company. 
 (b) If this Option is designated
as an ISO, Participant shall give prompt notice to the Company of any disposition or other transfer of any Shares acquired under this Agreement if such disposition or transfer is made (i) within two years from the Grant Date, or
(ii) within one year after the transfer of such Shares to Participant. Such notice shall specify the date of such disposition or other transfer and the amount realized in cash, other property, assumption of indebtedness or other consideration
by Participant in such disposition or other transfer. 

  
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 13. Option Subject to Plan. By executing the Grant Notice, Participant acknowledges
and agrees that Participant has reviewed the Grant Documents in their entirety, has had an opportunity to obtain the advice of Participant’s personal tax advisor prior to executing the Grant Notice and accepting the Option, and fully
understands all provisions of the Grant Documents to which the Option is subject. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will
govern and prevail. 
 14. Miscellaneous. 
 (a) Additional Documents. Participant agrees upon request to execute any further documents or instruments necessary or desirable in the sole determination of the Company to carry out the purposes
or intent of this Award. 
 (b) Administration. The Committee shall have the power to interpret the Grant Documents and
to adopt such rules for the administration, interpretation and application of the Grant Documents as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the
Committee shall be taken in good faith and shall be final and binding upon Participant, the Company and all other interested Persons. No member of the Committee shall be personally liable for any action, determination or interpretation made in good
faith with respect to the Plan or the Option. 
 (c) Waiver. The waiver by either party of compliance with any provision
of the Agreement by the other party shall not operate or be construed as a waiver of any other provision of the Agreement, or of any subsequent breach by such party of a provision of the Agreement. 

(d) Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and
this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth in Section 9, this Agreement shall be binding upon Participant and Participant’s heirs,
executors, administrators, successors and assigns. 
 (e) Governing Law. This Agreement and the Grant Notice shall be
construed and interpreted in accordance with the laws of the State of Delaware without regard to principles of conflicts of law thereof, or principals of conflicts of laws of any other jurisdiction which could cause the application of the laws of
any jurisdiction other than the State of Delaware. 
 (f) Amendments. The Grant Notice and this Agreement may not be
modified, amended or terminated, except by an instrument in writing, signed by a duly authorized representative of the Company and, to the extent any such modification, amendment or termination may materially adversely affect the rights of
Participant, by Participant, except as otherwise provided under the terms of the Plan. 
 (g) Additional Terms for Non-U.S.
Residents. If Participant is a resident of one or more of the non-U.S. jurisdictions set forth on Appendix I attached hereto, then the additional terms set forth on Appendix I with respect to such jurisdiction(s) shall apply to the
Option and are hereby incorporated into this Agreement. 
 (h) Entire Agreement. The Grant Documents constitute the
entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements or understandings, whether written or oral. 

  
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 EXHIBIT B 

TO STOCK OPTION GRANT NOTICE 
 FORM OF EXERCISE NOTICE 
 Effective as of today,
            , 20     , the undersigned (“Participant”) hereby elects to exercise Participant’s option to purchase the number of
shares of common stock specified below (the “Shares”) of Iridium Communications Inc., a Delaware corporation (the “Company”), under and pursuant to the Iridium Communications Inc. 2009 Stock Incentive Plan (the
“Plan”), the Stock Option Grant Notice dated as of             , 20      and the Stock Option Agreement attached thereto (collectively,
the “Grant Documents”). Capitalized terms used herein without definition shall have the meanings given in the Grant Documents. 
  

							
	Grant Date:	  	                           
                                        
	  	
			
	 Number of Shares as to which
 Option is Exercised:
	  	                           
                                        
	  	
				
	Option Price per Share:	  	$                            
             	  		  	
				
	Total Option Price:	  	$                            
             	  		  	
			
	Certificate to be issued in name of:	  	                           
                                        
	  	


			
		
	Payment of total Option Price plus applicable withholdings:	  	


			
	  
 Cash, check or wire transfer payment delivered
herewith:
	  	$                    
		
	Proceeds of broker-assisted cashless exercise:	  	$                    
		
	Other approved method:	  	$                     (Please specify)


By this exercise, Participant (i) acknowledges that Participant has received, read and understood the Grant Documents and agrees to abide by and be
bound by their terms and conditions, (ii) understands that Participant may suffer adverse tax consequences as a result of Participant’s purchase or disposition of the Shares, (iii) represents that Participant has consulted with any
tax consultants Participant deems advisable in connection with the purchase or disposition of the Shares and that Participant is not relying on the Company for any tax advice, (iv) agrees to provide such additional documents as the Company may
require, and (v) if this exercise relates to an Incentive Stock Option, to notify the Company in writing within 15 days after the date of any disposition of any of the Shares issued upon exercise of this Option that occurs within two years
after the Grant Date of this Option or within one year after such Shares are issued upon exercise of this Option. If this Option is being exercised by an authorized representative of Participant in case of Participant’s Disability or other
legal incapacity or by Participant’s administrator or estate in the event of Participant’s death, then such representative, administrator or estate shall be deemed to have agreed to all of the foregoing on behalf of Participant or his or
her estate, as applicable, as a condition of the exercise of the Option. 
  

									
	Accepted by IRIDIUM COMMUNICATIONS INC.	 		 	Submitted by PARTICIPANT
					
	By:	 	  
	 		 	By	 	  

	 Print Name:
	 	  
	 		 	Print Name:	 	  

	Title:	 	  
	 		 	Address:	 	  

		 		 		 		 	  

		 		 		 		 	  



  
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 EXHIBIT C 

TO STOCK OPTION GRANT NOTICE 
 IRIDIUM COMMUNICATIONS INC. 2009 STOCK INCENTIVE PLAN 

  
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 EXHIBIT D 

TO STOCK OPTION GRANT NOTICE 
 IRIDIUM COMMUNICATIONS INC. 2009 STOCK INCENTIVE PLAN PROSPECTUS 

  
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