Supplemental Agreement No. 8 to Purchase Agreement No. 03791 between THE BOEING COMPANY and AIR LEASE CORPORATION

EXHIBIT 10.14

 

Confidential Treatment
Requested Pursuant to Rule 24b-2

 

Supplemental Agreement No. 8

 

to

 

Purchase Agreement No. 03791

 

between

 

THE BOEING COMPANY

 

and

 

AIR LEASE CORPORATION

 

THIS SUPPLEMENTAL AGREEMENT is entered into as of January 30,  2017 (Supplemental Agreement No. 8)  by and between THE BOEING COMPANY (Boeing) and AIR LEASE CORPORATION (Customer).

 

All terms used but not defined in this Supplemental Agreement No. 8 have the same meaning as in the Purchase Agreement.

 

WHEREAS, Boeing and Customer have entered into Purchase Agreement No. 03791 dated as of July 3, 2012 as amended and supplemented (Purchase Agreement) relating to the purchase and sale of Model 737-8 and 737-9 Aircraft; 

 

WHEREAS, Boeing and Customer desire to amend the Purchase Agreement to [*] and continue to identify [*] as the lessee for this [*].

 

WHEREAS, Boeing and Customer agree to [*].

 

NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties agree to amend the Purchase Agreement as follows:

 

1.    TABLE OF CONTENTS.

 

The Table of Contents is deleted in its entirety, replaced by a new Table of Contents provided hereto as Enclosure 1 and incorporated into the Purchase

*   Confidential material omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

 

 

 

HAZ-PA-03791

1

SA-8

 

 

 

 

BOEING PROPRIETARY

 

 

 

Agreement by this reference. The new Table of Contents reflects the revisions set forth in this Supplemental Agreement No. 8.

 

2.    TABLES.

 

Table 1A is deleted in its entirety, replaced by a revised Table 1A provided hereto as Enclosure 2 and incorporated into the Purchase Agreement by this reference.  The revised Table 1A reflects [*].

 

3.    LETTER AGREEMENTS.

 

Letter Agreement HAZ-PA-03791-LA-1208090R3 titled Special Matters is deleted in its entirety, and replaced with a revised Letter Agreement HAZ-PA-03791-LA-1208090R4 provided hereto as Enclosure 3 and incorporated into the Purchase Agreement by this reference.

 

The Purchase Agreement will be deemed to be amended to the extent herein provided and as so amended will continue in full force and effect.

 

EXECUTED IN DUPLICATE as of the day and year first above written.

 

 

 

 

 

 

THE BOEING COMPANY

    

AIR LEASE CORPORATION

 

 

 

 

 

 

 

 

 

 

By:

/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇

 

By:

/s/ ▇▇▇▇▇ ▇▇▇▇

 

 

 

 

 

 

 

 

 

 

Its:

    Attorney‑In‑Fact

 

Its:

Executive Vice President

 

 

 

 

 

 

Attachments

 

*   Confidential material omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

 

 

 

 

 

HAZ-PA-03791

2

SA-8

 

 

 

 

BOEING PROPRIETARY

 

 

 

 

Enclosure 1

 

TABLE OF CONTENTS

 

 

 

 

 

ARTICLES

    

SA No.

Article 1.

Quantity, Model and Description

 

SA-4

Article 2.

Delivery Schedule

 

 

Article 3.

Price

 

 

Article 4.

Payment

 

 

Article 5.

Additional Terms

 

 

 

 

 

 

TABLE

 

 

1A

737-8 Block A Aircraft Information Table [*]

 

▇▇-▇

▇▇

▇▇▇-▇ ▇▇▇▇▇ ▇ Aircraft Information Table [*]

 

▇▇-▇

▇▇

▇▇▇-▇ ▇▇▇▇▇ C Aircraft Information Table [*]

 

SA-5

1D

737-8 Block D Aircraft Information Table [*]

 

SA-7

 

 

 

 

EXHIBIT

 

 

A1

737-8 Aircraft Configuration

 

 

A2

737-9 Aircraft Configuration

 

 

B

Aircraft Delivery Requirements and Responsibilities

 

 

 

 

 

 

SUPPLEMENTAL EXHIBITS

 

 

AE1

Escalation Adjustment - Airframe and Optional Features

 

 

BFE1

BFE Variables

 

 

CS1

Customer Support Variables

 

 

EE1

[*], Engine Warranty and Patent Indemnity

 

 

SLP1

Service Life Policy Components

 

 

 

 

 

 

LETTER AGREEMENTS

 

 

LA-1208077

AGTA Matters

 

 

LA-1208078R3

Advance Payment Matters

 

SA-5

LA-1208079

[*] Attachment A

 

▇▇-▇

▇▇-▇▇▇▇▇▇▇

▇▇▇▇▇▇▇▇▇▇ of Customer’s Interest to a Subsidiary or Affiliate

 

 

LA-1208081

Other Matters

 

 

LA-1208082

Demonstration Flight Waiver

 

 

LA-1208083R2

[*]

 

SA-5

LA-1208084

Leasing Matters

 

 

LA-1208085

Liquidated Damages for Non-Excusable Delay

 

 

LA-1208086

Loading of Customer Software

 

 

LA-1208087R1

Open Matters for 737-8 and ▇▇▇-▇ ▇▇▇▇▇▇▇▇ 

 

▇▇-▇

▇▇-▇▇▇▇▇▇▇

▇▇▇▇▇▇▇▇▇▇▇ Matters

 

 

LA-1208089R1

[*]

 

SA-4

LA-1208090R4

Special Matters

 

▇▇-▇

▇▇-▇▇▇▇▇▇▇

▇▇▇▇ Term Revisions for 737-8 and 737-9 Aircraft

 

 

LA-1208092

[*]

 

 

LA-1208958

[*]

 

 

LA-1208963

[*]

 

▇▇-▇

▇▇-▇▇▇▇▇▇▇

[*]

 

 

LA-1300032

[*]

 

SA-4

LA-1400773

[*]

 

SA-4

*   Confidential material omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

 

 

 

HAZ-PA-03791

i

SA-8

 

 

 

 

BOEING PROPRIETARY

 

 

 

 

Enclosure 1

 

TABLE OF CONTENTS

 

 

 

 

 

LA-1401489

[*]

 

SA-4

*   Confidential material omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

 

 

 

 

 

 

HAZ-PA-03791

ii

SA-8

 

 

 

 

BOEING PROPRIETARY

 

 

 

Enclosure 2

 

Table 1A

 

to Purchase Agreement No. PA-03791

 

737-8 Block A [*] Aircraft Delivery, Description, Price and Advance Payments

 

 

 

 

 

 

 

 

Airframe Model/MTOW:

737-8

181200 pounds

 

Detail Specification:

D019A007-B (5/18/2012)

 

 

 

 

 

 

 

 

Engine Model/Thrust:

CFM-LEAP-1B

0 pounds

 

Airframe Price Base Year/Escalation Formula:

[*]

[*]

 

 

 

 

 

 

 

Airframe Price:

[*]

 

Engine Price Base Year/Escalation Formula:

[*]

[*]

 

 

 

 

 

 

Optional Features:

[*]

 

 

 

 

 

 

 

 

 

 

Sub-Total of Airframe and Features:

[*]

 

Airframe Escalation Data:

 

 

 

 

 

 

 

 

Engine Price (Per Aircraft):

[*]

 

Base Year Index (ECI):

[*]

 

 

 

 

 

 

 

Aircraft Basic Price (Excluding BFE/SPE):

[*]

 

Base Year Index (CPI):

[*]

 

 

 

 

 

 

 

Buyer Furnished Equipment (BFE) Estimate:

[*]

 

 

 

 

 

 

 

 

 

 

Seller Purchased Equipment (SPE) Estimate:

[*]

 

 

 

 

 

 

 

 

 

 

Refundable Deposit/Aircraft at Proposal Accept:

[*]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Manufacturer

Escalation

 

 

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery

Number of

Serial

Factor

 

P.A.

Adv Payment Base

[*]

[*]

[*]

[*]

Date

Aircraft

No.

(Airframe)

Lessee

Exhibit A

Price Per A/P

[*]

[*]

[*]

[*]

[*]-2018

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

 

 

 

 

HAZ-PA-03791 60521, 63035

Boeing Proprietary

SA-8

 

 

Page 1 to 7

 

 

Enclosure 2

 

Table 1A

 

to Purchase Agreement No. PA-03791

 

737-8 Block A [*] Aircraft Delivery, Description, Price and Advance Payments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Manufacturer

Escalation

 

 

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery

Number of

Serial

Factor

 

P.A.

Adv Payment Base

[*]

[*]

[*]

[*]

Date

Aircraft

No.

(Airframe)

Lessee

Exhibit A

Price Per A/P

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

 

 

 

 

HAZ-PA-03791 60521, 63035

Boeing Proprietary

SA-8

 

 

Page 2 to 7

 

 

Enclosure 2

 

Table 1A

 

to Purchase Agreement No. PA-03791

 

737-8 Block A [*] Aircraft Delivery, Description, Price and Advance Payments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Manufacturer

Escalation

 

 

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery

Number of

Serial

Factor

 

P.A.

Adv Payment Base

[*]

[*]

[*]

[*]

Date

Aircraft

No.

(Airframe)

Lessee

Exhibit A

Price Per A/P

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

3

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

 

 

 

 

HAZ-PA-03791 60521, 63035

Boeing Proprietary

SA-8

 

 

Page 3 to 7

 

 

Enclosure 2

 

Table 1A

 

to Purchase Agreement No. PA-03791

 

737-8 Block A [*] Aircraft Delivery, Description, Price and Advance Payments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Manufacturer

Escalation

 

 

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery

Number of

Serial

Factor

 

P.A.

Adv Payment Base

[*]

[*]

[*]

[*]

Date

Aircraft

No.

(Airframe)

Lessee

Exhibit A

Price Per A/P

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

 

 

 

 

HAZ-PA-03791 60521, 63035

Boeing Proprietary

SA-8

 

 

Page 4 to 7

 

 

Enclosure 2

 

Table 1A

 

to Purchase Agreement No. PA-03791

 

737-8 Block A [*] Aircraft Delivery, Description, Price and Advance Payments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Manufacturer

Escalation

 

 

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery

Number of

Serial

Factor

 

P.A.

Adv Payment Base

[*]

[*]

[*]

[*]

Date

Aircraft

No.

(Airframe)

Lessee

Exhibit A

Price Per A/P

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

3

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

3

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

 

 

 

 

HAZ-PA-03791 60521, 63035

Boeing Proprietary

SA-8

 

 

Page 5 to 7

 

 

Enclosure 2

 

Table 1A

 

to Purchase Agreement No. PA-03791

 

737-8 Block A [*] Aircraft Delivery, Description, Price and Advance Payments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Manufacturer

Escalation

 

 

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery

Number of

Serial

Factor

 

P.A.

Adv Payment Base

[*]

[*]

[*]

[*]

Date

Aircraft

No.

(Airframe)

Lessee

Exhibit A

Price Per A/P

[*]

[*]

[*]

[*]

[*]

3

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

3

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

 

 

 

 

HAZ-PA-03791 60521, 63035

Boeing Proprietary

SA-8

 

 

Page 6 to 7

 

 

Enclosure 2

 

Table 1A

 

to Purchase Agreement No. PA-03791

 

737-8 Block A [*] Aircraft Delivery, Description, Price and Advance Payments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Manufacturer

Escalation

 

 

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery

Number of

Serial

Factor

 

P.A.

Adv Payment Base

[*]

[*]

[*]

[*]

Date

Aircraft

No.

(Airframe)

Lessee

Exhibit A

Price Per A/P

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

---

 

[*]

[*]

[*]

[*]

[*]

[*]-2022

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

Total:

82

 

 

 

 

 

 

 

 

 

 

 

[*]

 

Manufacturer serial number is subject to change due to production changes.

*   Confidential material omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

 

 

 

 

 

HAZ-PA-03791 60521, 63035

Boeing Proprietary

SA-8

 

 

Page 7 to 7

 

 

Enclosure 3

 

 

Picture 4

 

 

The Boeing Company

▇.▇. ▇▇▇ ▇▇▇▇

▇▇▇▇▇▇▇, ▇▇  ▇▇▇▇▇‑2207

 

 

HAZ-PA-03791-LA-1208090R4

 

Air Lease Corporation

▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇

▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇

 

Subject:         Special Matters

 

Reference:    Purchase Agreement No. PA-03791 (Purchase Agreement) between The Boeing Company (Boeing) and Air Lease Corporation (Customer) relating to Model 737-8 and 737-9 aircraft (Aircraft)

 

This letter agreement (Letter Agreement)  cancels and supersedes all previous versions with an acceptance date prior to the acceptance date indicated below and amends and supplements the Purchase Agreement.  All terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement.

 

1.     Credit Memoranda. In consideration of Customer’s purchase of the Aircraft, at the time of delivery of each such Aircraft or 737-9 [*], unless otherwise noted, Boeing will provide to Customer the following credit memoranda:

 

1.1     Basic Credit Memorandum.  Boeing will issue to Customer a basic credit memorandum (Basic Credit Memorandum)  at delivery of each Aircraft or 737-9 [*] in an amount shown in the table immediately below for the respective minor model [*].  

 

Basic Credit Memorandum

 

 

Model Type

Aircraft Block

[*]

737-8 Aircraft

737-9 Aircraft

737-9 [*]

Block A

[*]

[*]

[*]

[*]

Block B

[*]

[*]

[*]

[*]

Block C

[*]

[*]

[*]

[*]

Block D

[*]

[*]

[*]

[*]

 

1.2     Leasing Credit Memorandum.   Customer expressly intends to lease the Aircraft and 737‑9  [*] to a third party or parties (Lessee or Lessees) who are in the

*   Confidential material omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

 

 

 

 

 

 

 

SA-8

 

 

Page 1

 

 

BOEING PROPRIETARY

 

 

 

Enclosure 3

 

 

Picture 14

 

commercial airline business as aircraft operators.  As an additional consideration and incentive for entering into a lease for the Aircraft and 737‑9  [*] prior to delivery of each such Aircraft or 737‑9  [*] Aircraft, Boeing will issue to Customer a leasing credit memorandum (Leasing Credit Memorandum) in an amount shown in the table immediately below for the respective Aircraft or 737‑9  [*] minor model and [*].  Customer will not be permitted to assign this Leasing Credit Memorandum without the prior written consent of Boeing.

 

 

 

 

 

 

Leasing Credit Memorandum

 

 

Model Type

Aircraft Block

[*]

737-8 Aircraft

737-9 Aircraft

737-9 [*]

Block A

[*]

[*]

[*]

[*]

Block B

[*]

[*]

[*]

[*]

Block C

[*]

[*]

[*]

[*]

Block D

[*]

[*]

[*]

[*]

 

1.3      [*]

1.4      [*]

1.5      [*]

1.6      [*]

1.7      [*]

1.8      [*]

1.9      [*]

1.10    [*]

1.11    [*]

1.12    [*]

1.13    [*]

1.14    [*]

1.15    [*]

1.16    [*]

 

* Confidential material omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

 

 

 

HAZ-PA-03791-LA-1208090R4

 

SA-8

Special Matters

 

Page 2

 

 

BOEING PROPRIETARY

 

 

 

Enclosure 3

 

 

Picture 14

 

2. Escalation of Credit Memoranda. Unless otherwise noted, the amounts of the Credit Memoranda stated in Paragraphs [*] will be escalated from the base year indicated to the scheduled month of the respective Aircraft or 737‑9 [*] delivery pursuant to the Airframe Escalation formula set forth in the Purchase Agreement applicable to such Aircraft or 737‑9 [*].  The Credit Memoranda may, at the election of Customer, be (i) applied against the Aircraft Price of the respective Aircraft or 737‑9 [*] at the time of delivery, or (ii) used for the purchase of other Boeing goods and services (but shall not be applied to advance payments).

 

3. Assignment.

Unless otherwise noted herein, the Credit Memoranda described in this Letter Agreement are provided as a financial accommodation to Customer and in consideration of Customer’s taking title to the Aircraft and 737‑9 [*] at time of delivery and leasing the Aircraft and 737‑9 [*].  This Letter Agreement cannot be assigned, in whole or in part, without the prior written consent of Boeing.

 

4. Confidentiality.

Customer understands and agrees that the information contained herein represents confidential business information of Boeing and has value precisely because it is not available generally or to other parties.  Customer agrees to limit the disclosure of its contents to (a) its directors and officers, (b)  employees of Customer with a need to know the contents for performing its obligations (including, without limitation, those employees performing accounting, finance, administration and other functions necessary to finance and purchase, deliver or lease the Aircraft) and who understand they are not to disclose its contents to any other person or entity (other than those to whom disclosure is permitted by this paragraph 4) without the prior written consent of Boeing and (c) any auditors, financial advisors, attorneys and independent contractors of Customer who have a need to know such information and have signed a confidentiality agreement in the same form and substance similar to this paragraph 4.  Customer shall be fully responsible to Boeing for compliance with such obligations. 

 

*   Confidential material omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

 

 

 

HAZ-PA-03791-LA-1208090R4

 

SA-8

Special Matters

 

Page 3

 

 

BOEING PROPRIETARY

 

 

 

Enclosure 3

 

 

Picture 14

 

 

Very truly yours,

 

 

 

 

THE BOEING COMPANY

 

 

 

By

/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇

 

 

 

 

Its

Attorney-in-fact

 

 

 

ACCEPTED AND AGREED TO this

 

 

 

Date:

January 30, 2017

 

 

 

AIR LEASE CORPORATION

 

 

 

By

/s/ ▇▇▇▇▇ ▇▇▇▇

 

 

 

Its

Executive Vice President

 

 

 

 

 

 

HAZ-PA-03791-LA-1208090R4

 

SA-8

Special Matters

 

Page 4

 

 

BOEING PROPRIETARY

 

 

Document Metadata

Filed: May 4th, 2017