SEC Contract Filing

Filing Date: 2018-04-26

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>6
<FILENAME>irdm10-q033118exx104.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
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<div><a name="sB3B3E04E5DE03F9AD26DDEA7A6C2F597"></a></div><div><div style="line-height:120%;text-align:right;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.4</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">IRIDIUM COMMUNICATIONS INC.</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">2018 EXECUTIVE PERFORMANCE BONUS PLAN</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:0px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;font-weight:bold;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Purpose.&#160;&#160; </font><font style="font-family:inherit;font-size:12pt;">As part of its executive compensation program, Iridium Communications Inc. (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;) has designed this 2018 Executive Performance Bonus Plan (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Bonus Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;) for the 2018 calendar year. The Bonus Plan operates under, and is part of, the Iridium Communications Inc. Amended and Restated 2015 Equity Incentive Plan (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">A&amp;R 2015 Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;), which has been approved by the Board and the Company&#8217;s stockholders. The Bonus Plan provides Participants with incentive awards, paid in restricted stock units and cash, based on the achievement of objectively determinable performance goals. The Bonus Plan is intended to permit the payment of bonuses that may qualify as Performance-Based Compensation. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Definitions. </font><font style="font-family:inherit;font-size:12pt;">Defined terms not explicitly defined in the Bonus Plan but defined in the A&amp;R 2015 Plan shall have the same definitions as in the A&amp;R 2015 Plan. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Base Salary</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the base salary earned by the Participant during the Performance Period. Such Base Salary shall be before both (i)&#160;deductions for taxes or benefits, and (ii)&#160;deferrals of compensation pursuant to Company-sponsored plans.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Bonus Award</font><font style="font-family:inherit;font-size:12pt;">&#8221; means, with respect to each Participant, the award determined pursuant to Section&#160;5(g) below, which is subject to the Committee&#8217;s authority under Section&#160;5(g)&#160;to eliminate or reduce the Bonus Award otherwise payable based on the Personal Performance Factor. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Code</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the Internal Revenue Code of 1986, as amended.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Committee</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the Compensation Committee of the Board (or a subcommittee thereof), or such other committee of the Board (including, without limitation, the full Board) to which the Board has delegated power to ac