Document:

Exhibit 10.3

[letterhead of Navigation Technologies Corporation]

 

	
  To:

  	
  Koninklijke
  Philips Electronics N.V.

  
	
   

  	
  F.a.o.
  Corporate Treasury Department

  
	
   

  	
  Breitner
  Center, Building HBT 12

  
	
   

  	
  1070 MX
  Amsterdam

  
	
   

  	
  The
  Netherlands

  
	
   

  
	
   

  	
  Date: June
  27, 2003

  
	
   

  	
  Number:  9440...

  
			

 

Dear Sirs,

 

In consideration of you
granting a guarantee, dated June 27, 2003 with reference 9440 to ABN AMRO Bank
N.V. for our obligations under any loan
agreements entered into on the terms and conditions set out in the letter of
June 27, 2003  and the Promissory Note of June 27, 2003 as referred
to in the guarantee (which guarantee is attached to this letter in the form of
a final draft, conformed copy or copy of the executed version, initialed by us
for identification purposes, hereinafter the “Guarantee”).

 

We herewith irrevocably
guarantee payment to you of all sums paid by you in accordance with the
Guarantee which payment will be effected without undue delay upon receipt by us
of a written request for payment substantially in the form as attached to this
counter guarantee. Such payment shall be made to the account identified in the
request for payment.

 

Within five business days after
the signing hereof, we will pay you a fee equal to 12,5 basispoints over the
Amount as defined in the Guarantee, which fee will therefore amount to US$
3,125 (three thousand one hundred and twenty five US Dollars).

 

Any payments by us hereunder
shall be made free and clear of transfer taxes, withholding taxes or similar
charges.

 

The aforementioned obligations
cannot be cancelled or terminated by us. This letter shall be governed by and
construed in accordance with the laws of The Netherlands. Any dispute arising
hereunder or in connection herewith shall be submitted in first instance to the
District Court of Amsterdam, The Netherlands.

 

	
  Navigation
  Technologies Corporation

  
	
   

  
	
  /s/ Judson
  Green

  	
   

  
	
  Judson Green

  	
   

  
	
  President
  and CEO

  	
   

  

 

1Exhibit 10.4

 

Navigation Technologies

 

Deal Request

22-Apr-03

 

 

	
  Transaction

  	
   

  	
  Euro/Dollar
  Basis Swap

  
	
  Navigation Technologies Receives

  	
   

  	
  1 Month US$
  Libor

  
	
  Navigation Technologies Pays

  	
   

  	
  1 Month
  Euribor

  
	
  Begin Date

  	
   

  	
  April 22,
  2003 with the first coupon date of May 24th, 2003 and the 24th
  of each month thereafter

  
	
  Maturity Date

  	
   

  	
  24-Dec-06

  
	
  Reset

  	
   

  	
  Once every
  month

  
	
  Start Exchange

  	
   

  	
  No

  
	
  End Exchange

  	
   

  	
  Yes, an
  amortizing monthly exchange is agreed

  
	
  Spot Level Eur/USD

  	
   

  	
  Market Rate
  less 17 basis points

  
	
  Exact USD Amount

  	
   

  	
  $187,136,045.79

  
	
  Organization

  	
   

  	
  1

  
	
   

  	
   

  	
   

  
	
  Signature

  	
   

  	
  /s/ David B.
  Mullen

  	
   

  
	
   

  	
   

  	
   

  
	
  Date

  	
   

  	
  4/22/03

  	
   

  
	
   

  	
   

  	
   

  
	
  Title

  	
   

  	
  Executive
  Vice President and

  Chief Financial Officer

  

 

1Exhibit 10.5

 

[letterhead of koninklijke philips
electonics nv]

 

	
  Navigation Technologies BV.

  	
  Corporate Treasury

  Tel: 00 31 20 59 77 367

  Fax: 00 31 20 59 77 370

  Marcel.Onclin @Philips.com

  
	
   

  	
   

  
	
   

  	
   

  
	
  Confirmation of Cross Currency Swap

  	
  Our reference:

  	
  346743

  
	
   

  	
  Date:

  	
  23/05/2003

  

 

Dear Sir or Madam:

 

The purpose of this
communication is to confirm the terms and conditions of the Transaction entered
into between KPENV, through the Corporate Treasury department and Navigation
Technologies B.V. on the Trade Date specified below (the “Transaction”).

 

The terms of the particular Transaction to which this Confirmation
relates are as follows:

 

	
  Trade date:

  	
   

  	
  22-May-2003

  
	
   

  	
   

  	
   

  
	
  Effective date:

  	
   

  	
  27-May-2003

  
	
   

  	
   

  	
   

  
	
  Termination Date:

  	
   

  	
  22-December-2006, subject to adjustment in accordance with the
  Modified Following Business Day Convention

  

 

Initial
exchange

 

	
  Initial exchange date:

  	
   

  	
  Inapplicable

  
	
   

  	
   

  	
   

  
	
  Floating rate Payer I

  	
   

  	
   

  
	
  Initial exchange amount:

  	
   

  	
  Inapplicable

  
	
   

  	
   

  	
   

  
	
  Floating rate Payer II

  	
   

  	
  Inapplicable

  
	
  Initial exchange amount:

  	
   

  	
   

  

 

1

 

	
  Final Exchange

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Final Exchange Date:

  	
   

  	
  Termination Date

  
	
   

  	
   

  	
   

  
	
  Floating Rate Payer I

  	
   

  	
   

  
	
  Final Exchange amount:

  	
   

  	
  Usd 180.063.688.86

  
	
   

  	
   

  	
   

  
	
  Floating Rate Payer II

  	
   

  	
   

  
	
  Final Exchange amount:

  	
   

  	
  Eur 164.486.789.86

  
	
   

  	
   

  	
   

  
	
  Floating amounts I

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Floating Rate Payer I:

  	
   

  	
  KPENV

  
	
   

  	
   

  	
   

  
	
  Floating rate Payer I

  	
   

  	
   

  
	
  Currency amount:

  	
   

  	
  Usd 180.063.688.86

  
	
   

  	
   

  	
   

  
	
  Floating rate Payer I

  	
   

  	
   

  
	
  Payment dates:

  	
   

  	
  The 24th of each month in each year, commencing on the
  24-May-2003 and ending on the termination date, inclusive, subject to
  adjustment in accordance with the Modified Following Business Day Convention.
  (see appendix 1 for exact payment days).

  
	
   

  	
   

  	
   

  
	
  Floating rate payer I

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Floating rate option:

  	
   

  	
  Eur-Euribor-Bloomberg (Page EBF)

  
	
   

  	
   

  	
   

  
	
  Designated maturity:

  	
   

  	
  One month

  
	
   

  	
   

  	
   

  
	
  Spread:

  	
   

  	
  0.0000

  
	
   

  	
   

  	
   

  
	
  Floating Rate

  	
   

  	
   

  
	
  Day Count Fraction:

  	
   

  	
  Act/360

  
	
   

  	
   

  	
   

  
	
  No adjustment of period end dates:

  	
   

  	
  Inapplicable

  
	
   

  	
   

  	
   

  
	
  Reset Dates:

  	
   

  	
  The first day of each Floating Rate Payer I Calculation period

  
	
   

  	
   

  	
   

  
	
  Rate Cut-Off Dates:

  	
   

  	
  Inapplicable

  
	
   

  	
   

  	
   

  
	
  Method of Averaging:

  	
   

  	
  Inapplicable

  

 

2

 

	
  Compounding:

  	
   

  	
  Inapplicable

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Floating Amounts II

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Floating Rate Payer II:

  	
   

  	
  Navigation Technologies BV.

  
	
   

  	
   

  	
   

  
	
  Floating Rate Payer II

  	
   

  	
   

  
	
  Currency Amount:

  	
   

  	
  Eur 164.486.789.86

  
	
   

  	
   

  	
   

  
	
  Floating Rate Payer II

  	
   

  	
   

  
	
  Payment Dates:

  	
   

  	
  The 24th of each month in each year, commencing on the
  24-May-2003 and ending on the termination date, inclusive, subject to
  adjustment in accordance with the Modified Following Business Day Convention.
  (see appendix 1 for exact payment days).

  
	
   

  	
   

  	
   

  
	
  Floating Rate Payer II

  	
   

  	
   

  
	
  Floating Rate Option:

  	
   

  	
  Usd-Libor-Bloomberg (Page BBAM)

  
	
   

  	
   

  	
   

  
	
  Designated maturity:

  	
   

  	
  One Month

  
	
   

  	
   

  	
   

  
	
  Spread:

  	
   

  	
  0.000000

  
	
   

  	
   

  	
   

  
	
  Floating rate

  	
   

  	
   

  
	
  Day Count Fraction:

  	
   

  	
  Actual/360

  
	
   

  	
   

  	
   

  
	
  No Adjustment of

  	
   

  	
   

  
	
  Period End Dates:

  	
   

  	
  Inapplicable

  
	
   

  	
   

  	
   

  
	
  Reset Dates:

  	
   

  	
  The first day of each Floating Rate Payer II Calculation period.

  
	
   

  	
   

  	
   

  
	
  Rate Cut-Off Dates:

  	
   

  	
  Inapplicable

  
	
   

  	
   

  	
   

  
	
  Method of Averaging:

  	
   

  	
  Inapplicable

  
	
   

  	
   

  	
   

  
	
  Compounding:

  	
   

  	
  Inapplicable

  

 

3

 

	
  Business Days:

  	
   

  	
  TARGET Settlement Day, New York.

  
	
   

  	
   

  	
   

  
	
  Calculation Agent:

  	
   

  	
  KPENV Corporate Treasury

  
	
   

  	
   

  	
   

  
	
  Non-reliance:

  	
   

  	
  Each party represents to the other party that its acting for its own
  account, and has made its own independent decisions to enter into this
  Transaction and as to whether this Transaction is appropriate or proper for
  it based on its own judgment and upon advice from such advisors as it has
  deemed necessary. It is not relying on any communication (written or oral) of
  the other party as investment advice or as a recommendation to enter into
  this transaction, it being understood that information and explanations
  related to the terms and conditions of this transaction shall not be
  considered investment advice or a recommendation to enter into this
  transaction. No communication (written or oral) received from the other party
  shall be deemed to be an assurance or guarantee as to the expected results of
  this transaction.

  
	
   

  	
   

  	
   

  
	
  Other Provisions:

  	
   

  	
  Navigation Technologies has the right to partially unwind the basis
  swap, only and only on the dates mentioned in appendix I. The total amount of
  unwinds cannot exceed the notional amount. Corporate Treasury should be
  notified three working days prior to the reset date (appendix I) about the
  amount Nav Tech would to like reset. At each prepayment the Cross Currency
  Swap notional amount will reduce according to the following formula:

  
	
   

  	
   

  	
  Old Notional -/- prepayment amount = New notional. Notification only
  be done by E-mail to the following group of persons:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Marcel.Onclin@philips.com

  
	
   

  	
   

  	
  Simon.karregat@philips.com

  
	
   

  	
   

  	
  Constantijn.sweep@Philips.com

  
	
   

  	
   

  	
  Mark.Kirkland@philips.com

  

 

4

 

	
   

  	
   

  	
  Or to
  their designated replacements should the individuals leave their roles

  

 

	
   

  	
   

  	
   

  
	
  Account Details

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Eur Payments to KPENV:

  	
   

  	
  Citibank N.A. London (Swift:CitiGB2L)

  
	
   

  	
   

  	
  FAO: Koninklijke Philips Electronics NV

  
	
   

  	
   

  	
  Account number: 3172929

  
	
   

  	
   

  	
   

  
	
  Usd Payments to KPENV:

  	
   

  	
  Citibank N.A. New York

  
	
   

  	
   

  	
  FAO: Koninklijke Philips Electronics NV

  
	
   

  	
   

  	
  Account number: 40670981

  
	
   

  	
   

  	
   

  
	
  Eur Payments to Nav Tech:

  	
   

  	
  Please advise

  
	
   

  	
   

  	
   

  
	
  Usd Payments to Nav Tech:

  	
   

  	
  Lasalle Bank Chicago (Swift:LASLUS44)

  
	
   

  	
   

  	
  FAO: Navagation Technologies Corp

  
	
   

  	
   

  	
  Account number: 5800265570

  

 

Please confirm that the foregoing correctly sets forth the terms of our
agreement by executing this Confirmation and returning it to us by facsimile
transmission.

 

 

	
   

  	
  Yours sincerely,

  
	
   

  	
  Koninklijke Philips Electronics NV

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Peter Warmerdam

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  
	
   

  	
   

  
	
   

  	
  For and on behalf of KPENV

  	
   

  
							

 

Accepted and confirmed as

Of the Trade Date written above:

 

Navigation Technologies B.V.

 

	
  By:

  	
  /s/ Chris Peters

  	
   

  
	
  Name:  Chris Peters

  
	
  Title:  V.P. Finance Europe

  

 

5

 

Appendix I:

 

Payment dates as referred to in Floating Rate Payer I Payment Date(s)
and Floating Rate Payer II Payment Date(s):

 

	
  Dates
  2003

  	
   

  	
  Dates 2004

  	
   

  	
  Dates 2005

  	
   

  	
  Dates 2006

  	
   

  
	
   

  	
   

  	
  26-Jan-2004

  	
   

  	
  24-Jan-2005

  	
   

  	
  24-Jan-2006

  	
   

  
	
   

  	
   

  	
  24-Feb-2004

  	
   

  	
  24-Feb-2005

  	
   

  	
  24-Feb-2006

  	
   

  
	
   

  	
   

  	
  24-Mar-2004

  	
   

  	
  24-Mar-2005

  	
   

  	
  24-Mar-2006

  	
   

  
	
   

  	
   

  	
  26-Apr-2004

  	
   

  	
  25-Apr-2005

  	
   

  	
  24-Apr-2006

  	
   

  
	
   

  	
   

  	
  24-May-2004

  	
   

  	
  24-May-2005

  	
   

  	
  24-May-2006

  	
   

  
	
  24-Jun-2003

  	
   

  	
  24-Jun-2004

  	
   

  	
  24-Jun-2005

  	
   

  	
  26-Jun-2006

  	
   

  
	
  24-Jul-2003

  	
   

  	
  26-Jul-2004

  	
   

  	
  25-Jul-2005

  	
   

  	
  24-Jul-2006

  	
   

  
	
  25-Aug-2003

  	
   

  	
  24-Aug-2004

  	
   

  	
  24-Aug-2005

  	
   

  	
  24-Aug-2006

  	
   

  
	
  24-Sep-2003

  	
   

  	
  24-Sep-2004

  	
   

  	
  26-Sep-2005

  	
   

  	
  25-Sep-2006

  	
   

  
	
  24-Oct-2003

  	
   

  	
  25-Oct-2004

  	
   

  	
  24-Oct-2005

  	
   

  	
  24-Oct-2006

  	
   

  
	
  24-Nov-2003

  	
   

  	
  24-Nov-2004

  	
   

  	
  25-Nov-2005

  	
   

  	
  24-Nov-2006

  	
   

  
	
  24-Dec-2003

  	
   

  	
  27-Dec-2004

  	
   

  	
  27-Dec-2005

  	
   

  	
  22-Dec-2006

  	
   

  

 

 

The next coupon will materialize on the 24th of June where:

 

KPENV will pay Usd 184.865.39 and

NavTech Technologies BV will pay Eur 319.707.49

 

6

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