Document:

Exhibit 10.3

 

AMENDMENT N° 22

 

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

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

Execution Copy

 

    	 

    	 

    

 

PREAMBLE

 

This Amendment N° 22 (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, as amended, (the “Contract”) is entered into on this 14th day of July,
2014 (“Effective Date”) 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’s customer wishes to have an Auxiliary Component (as defined herein) designated as [***]
integrated on [***] Satellites; and

 

WHEREAS,
Contractor has provided a proposal to Purchaser for the implementation and integration of [***];
and

 

WHEREAS,
the Parties have reached agreement on total price, milestone payment schedule and Deliverable Data for the implementation of [***].

 

NOW, THEREFORE, in consideration
of the premises and for good and valuable consideration, the receipt and adequacy of which are hereby expressly acknowledged, and
intending to be legally bound, the Parties hereby agree as follows:

 

Article 1:     Capitalized terms
used but not defined in this Amendment shall have the meanings ascribed thereto in the Contract or any amendments thereto, as the
case may be.

 

Article 2:     Article 1
of the Contract is hereby revised to add the following definition.

 

“ADS-B Payload”
means, individually or collectively, the ADS-B receiver sensor or instrument to be integrated with each Satellite, intended to
be launched into the orbital location of such Satellite.

 

“Auxiliary
Component” or “AC” means any auxiliary sensor or instrument or other equipment, software, or both, other than
the ADS-B Payload, that is intended to interface with and is located either inside or outside the Payload Enclosure hosted on any
Satellite.

 

“Payload Enclosure”
means the enclosure which includes the ADS-B Payload and Auxiliary Components.

 

Article
3:    The SOW will be revised to reflect Contractor letter TAS-14-CI/DCE-046, dated March 28, 2014 and related presentation
titled “[***]. 

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

Execution CopyIridium / Thales Alenia Space Confidential
& Proprietary

 

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Article
4:    The Base Contract Price set forth in Article 4.1 of the Contract is hereby increased by the amount of [***]
U.S. Dollars (US$ [***]) to a new Base Contract Price of no more
than [***] U.S. Dollars (US$[***]).

 

Article 5:    Article 7.6,
as set forth below, is hereby added to the Contract.

 

“7.6
[***]

 

7.6.1
[***]

 

 

Article
6:   Exhibit D of the Contract is hereby revised to add the following separate milestone payment schedule applicable to
the addition [***].

 

[***]

 

Article
7:   [***] Milestone. Contractor shall support Purchaser
and Purchaser’s customer (the “Customer”) as follows: 

 

[***]

 

Article
8:    The Payment Plan set forth in Exhibit D of the Contract is hereby modified by (i) deleting the US Dollars amount
of $ [***] for [***]
and (ii) inserting the US Dollar amount of $ [***] in place thereof.

 

Article 9:   This Amendment
may be executed and delivered (including via facsimile or other electronic means) in one or more counterparts, each of which shall
be deemed to be an original, but all of which shall constitute one and the same agreement.

 

Article 10:   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.

 

	IRIDIUM SATELLITE LLC	 	THALES ALENIA SPACE FRANCE
	 	 	 
	/s/ S. Scott Smith	 	/s/ Bertrand Maureau
	S. Scott Smith	 	Bertrand Maureau
	Chief Operating Officer	 	Vice President 
	 	 	Telecommunications Business Line 

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

Execution CopyIridium / Thales Alenia Space Confidential
& Proprietary

 

    	2Exhibit 10.4

 

AMENDMENT NO. 5

 

TO THE 

 

CONTRACT FOR LAUNCH SERVICES

 

NO. IS-10-008

 

BETWEEN

 

IRIDIUM SATELLITE LLC

 

AND

 

SPACE EXPLORATION TECHNOLOGIES CORP.

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

Execution Copy             Iridium
& Space Exploration Technologies Corp. Proprietary Information 

 

    	 

    	 

    

 

PREAMBLE

 

This Amendment No. 5 (the “Amendment”)
to the Contract for Launch Services No. IS-10-008, signed on March 19, 2010 between Iridium Satellite LLC and Space Exploration
Technologies Corp. (the “Contract”) is entered into on this 15th day of September, 2014, by and between Iridium
Satellite LLC, a limited liability company organized and existing under the laws of Delaware, having its office at 1750 Tysons
Boulevard, Suite 1400, McLean, VA 22102 (“Customer”) and Space Exploration Technologies Corp., a Delaware corporation,
having its office at 1 Rocket Road, Hawthorne, CA 90250 (“Contractor”).

 

RECITALS

 

WHEREAS, Customer and Contractor
have engaged in discussions relating to changes each would like to incorporate in the Contract reflecting adjustments to the Contract
Price, Launch Schedule, and Milestone Payment Schedules for Non-Recurring and Recurring Payment Milestones; and

 

WHEREAS, the Parties now desire
to amend Exhibit B, Exhibit C and Exhibit E of the Contract.

 

NOW, THEREFORE, in consideration
of the foregoing, the agreements contained herein, the payments to be made by Customer to Contractor under the Contract and other
good and valid consideration, the receipt and adequacy of which are hereby expressly acknowledged, 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.

 

Article 2:   Exhibit B of the
Contract is hereby deleted and replaced in its entirety by the Exhibit B attached hereto.

 

Article 3:   Exhibit C of the
Contract is hereby deleted and replaced in its entirety by the Exhibit C attached hereto.

 

Article 4:   Exhibit E of the
Contract is hereby deleted and replaced in its entirety by the Exhibit E attached hereto.

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

Execution Copy             Iridium & Space Exploration Technologies
Corp. Proprietary Information

  

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Article 5:   This
Amendment may be executed and delivered (including via facsimile or other electronic means) in one or more counterparts, each
of which shall be deemed to be an original, but all of which shall constitute one and the same agreement.

 

Article 6:   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. 

 

	For Customer	 	For Contractor
	 	 	 
	IRIDIUM SATELLITE LLC	 	
        SPACE EXPLORATION 

        TECHNOLOGIES CORP.

	 	 	 	 	 
	Signature:	/s/ S. Scott Smith	
         

        
	Signature:	/s/ Gwynne Shotwell
	Name:	S. Scott Smith	 	Name:	Gwynne Shotwell
	Title:	Chief Operating Officer 	 	Title:	President

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

Execution Copy             Iridium
& Space Exploration Technologies Corp. Proprietary Information 

 

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EXHIBIT B

LAUNCH SCHEDULE 

 

	Firm
    Launch Mission	 	Start
    Date of Launch Slot	 	Launch
    Date
	[***]	 	[***]	 	[***]

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

Execution Copy             Iridium
& Space Exploration Technologies Corp. Proprietary Information 

 

    	4

    	 

    

 

EXHIBIT C

MILESTONE PAYMENT SCHEDULE

 

Table
C.1 identifies the [***] Milestone Payments. 

 

Table C.1 [***]
Payment Milestones

	Milestone	 	
        Milestone

        Due Date
	 	Milestone Payment 

(US$)
	[***]	 	[***]	 	[***]
	Total [***] Payments	 	$ [***]

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

Execution Copy             Iridium
& Space Exploration Technologies Corp. Proprietary Information 

 

    	5

    	 

    

 

EXHIBIT C

MILESTONE PAYMENT SCHEDULE

MILESTONE PAYMENT SCHEDULE (CONTINUED)

 

Table
C.2 identifies the [***] Milestone [***]
for [***] Firm Launches for [***].

 

Table C.2 [***] Milestones

	No.	 	
        Milestone 

        Completion Nominal 

        Dates (Months)
	 	Milestone	 	
        Milestone 

        Payments (US$)

	[***]	 	[***]	 	[***]	 	[***]
	[***] Price	 	$ [***]

Note (1): Milestone payable [***]

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

Execution Copy             Iridium
& Space Exploration Technologies Corp. Proprietary Information 

 

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EXHIBIT C

MILESTONE PAYMENT SCHEDULE

MILESTONE PAYMENT SCHEDULE (CONTINUED)

 

Table
C.3 identifies the [***] Milestone Payments for [***]
Firm Launches for [***].

 

Table C.3 [***] Payment Milestones

	No.	 	
        Milestone 

        Completion Nominal 

        Dates (Months)
	 	Milestone	 	
        Milestone 

        Payments (US$)

	[***]	 	[***]	 	[***]	 	[***]
	[***] Price	 	$ [***]

Note (1): Milestone payable [***]

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

Execution Copy             Iridium
& Space Exploration Technologies Corp. Proprietary Information  

 

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EXHIBIT E

ADDITIONAL LAUNCH PRICE

 

A.           Additional
Launch Option [***]

 

If Customer exercises
an Additional Launch [***]. The resulting amount shall be [***].

 

B.           Additional
Launch Milestone Payments

 

Milestone Payments for
such Additional Launch shall be calculated based upon [***].

 

D.           Application
of Additional Launch Reservation Fee

 

The [***] US Dollars
(US$ [***]) Additional Launch reservation fee, to the extent paid by Customer pursuant to Section 2.1.2, shall be added to the
Additional Launch price as determined in Section A above, to determine the final Launch Service price for the applicable Additional
Launch.

 

Table E.1.

	 	Additional Launch Price [***]
	 	[***]	[***]	[***]	[***]	[***]
	[***]	[***]	[***]	[***]	[***]	[***]
	[***]	[***]	[***]	[***]	[***]	[***]

 

Table E.2.

	
         

        No
	 	
        Milestone [***]

        Dates
	 	Milestone	 	
        Milestone Payment

        (%)

	[***]	 	[***]	 	[***]	 	[***]
	Additional Launch price Sub Total	 	[***]%
	Reservation Fee	 	$ [***]
	Final Launch Service Price	 	Sub Total plus $ [***]

 

*** Certain confidential information contained in this document,
marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

 

Execution Copy             Iridium
& Space Exploration Technologies Corp. Proprietary Information   

 

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