Exhibit 10.3

CONFIDENTIAL MATERIAL APPEARING IN THIS DOCUMENT HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION IN ACCORDANCE WITH THE
SECURITIES ACT OF 1933, AS AMENDED, AND RULE 24B-2 PROMULGATED THEREUNDER.
OMITTED INFORMATION HAS BEEN REPLACED WITH ASTERISKS.

Supplemental Agreement No. 62

to

Purchase Agreement No. 1951

(the Agreement)

Between

The Boeing Company

and

United Airlines, Inc.

Relating to Boeing Model 737 Aircraft

THIS SUPPLEMENTAL AGREEMENT, entered into as of January 14, 2015, by and between
THE BOEING COMPANY (Boeing) and UNITED AIRLINES, INC. (a Delaware corporation)
(Customer);

WHEREAS, the parties hereto entered into Purchase Agreement No. 1951 dated
July 23, 1996, as amended and supplemented, (the Purchase Agreement) relating to
the purchase and sale of Boeing model 737 aircraft (the Aircraft). This
Supplemental Agreement No. 62 is an amendment to the Purchase Agreement;

WHEREAS, Boeing and Customer agree to *** model 737-*** aircraft (*** Aircraft)
in lieu of the following *** model 737-*** Aircraft (*** Aircraft) pursuant to
Supplemental Agreement No. 2 to Purchase Agreement No. 03776:

 

MSN

  

*** Aircraft

Delivery Month

  

*** Aircraft

Delivery Month

***

   ***    ***

WHEREAS, Boeing and Customer agree to *** the following *** model 737-*** Option
Aircraft (*** Options):

 

Delivery Month

  

Quantity

***

   ***

 

P.A. 1951

  SA 62   Page 1 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

Supplemental Agreement No. 62 to

Purchase Agreement No. 1951

 

WHEREAS, Boeing and Customer agree to reschedule the delivery of the following
model 737-*** Option Aircraft:

 

Current Option

Delivery Month

  

Revised Option

Delivery Month

***

   ***

WHEREAS, Boeing and Customer agree to *** received by Boeing for the ***
Aircraft and *** received by Boeing for the *** Options *** the *** Aircraft;

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

 

1. Table of Contents, Articles, Tables, Exhibits, and Letter Agreements:

1.1 Remove and replace, in its entirety, the “Table of Contents”, with the
“Table of Contents” attached hereto, to reflect the changes made by this
Supplemental Agreement No. 62.

1.2 Remove and replace, in its entirety, pages T-6-2 through T-6-4 to Table 1,
with the revised pages T-6-2 through T-6-3 to Table 1 attached hereto to reflect
the above revisions.

1.3 Remove and replace, in its entirety, Attachment B to Letter Agreement
1951-9R20, with the revised Attachment B to Letter Agreement 1951-9R20 attached
hereto to reflect the above revisions.

2. Conditions Precedent: This Supplemental Agreement No. 62 will be effective
subject to satisfaction of all of the following conditions precedent
(collectively the Conditions Precedent):

2.1 Execution of Supplemental Agreement No. 2 to Purchase Agreement No. 03776
between Boeing and Customer relating to Boeing model 737-9 aircraft; and

2.2 Execution of Purchase Agreement No. 04308 between Boeing and Customer
relating to Boeing model 777 aircraft.

Upon satisfaction of the Conditions Precedent, the Purchase Agreement will be
deemed to be supplemented to the extent herein provided as of the date hereof
and as so supplemented will continue in full force and effect.

 

P.A. 1951

  SA 62   Page 2 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

Supplemental Agreement No. 62 to

Purchase Agreement No. 1951

 

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

 

THE BOEING COMPANY

UNITED AIRLINES, INC.

/s/ Susan E. Englander

/s/ Gerald Laderman

Signature

Signature

Attorney-in-Fact

Senior Vice President – Finance, Procurement and Treasurer

Title

Title

 

P.A. 1951

SA 62 Page 3 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

TABLE OF CONTENTS

 

         Page
Number      SA
Number   ARTICLES              

1.

  Subject Matter of Sale      1-1         SA 39   

2.

  Delivery, Title and Risk of Loss      2-1      

3.

  Price of Aircraft      3-1         SA 39   

4.

  Taxes      4-1      

5.

  Payment      5-1      

6.

  Excusable Delay      6-1      

7.

  Changes to the Detail Specification      7-1         SA 39   

8.

  Federal Aviation Requirements and Certificates and Export License      8-1   
     SA 39   

9.

  Representatives, Inspection, Flights and Test Data      9-1      

10.

  Assignment, Resale or Lease      10-1      

11.

  Termination for Certain Events      11-1      

12.

  Product Assurance; Disclaimer and Release; Exclusion of Liabilities; Customer
Support; Indemnification and Insurance      12-1      

13.

  Buyer Furnished Equipment and Spare Parts      13-1      

14.

  Contractual Notices and Requests      14-1         SA 39   

15.

  Miscellaneous      15-1      

 

P.A. 1951

    SA 62 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

TABLE OF CONTENTS

 

         Page
Number      SA
Number   TABLES              

1.

  Aircraft Deliveries and Descriptions - 737-500      T-1         SA 3     
Aircraft Deliveries and Descriptions - 737-700      T-2         SA 57     
Aircraft Deliveries and Descriptions - 737-800      T-3         SA 55     
Aircraft Deliveries and Descriptions - 737-600      T-4         SA 4     
Aircraft Deliveries and Descriptions - 737-900      T-5         SA 39     
Aircraft Deliveries and Descriptions - 737-900ER      T-6         SA 62   

 

EXHIBITS       

A-1

  Aircraft Configuration - Model 737-724 (Aircraft delivering through July 2004)
     SA 26    A-1.1   Aircraft Configuration - Model 737-724 (Aircraft
delivering on or after August 2004)      SA 46    A-2   Aircraft Configuration -
Model 737-824 (Aircraft delivering through July 2004)      SA 26    A-2.1  
Aircraft Configuration - Model 737-824 (Aircraft delivering August 2004 through
December 2007)      SA 41    A-2.2   Aircraft Configuration - Model 737-824
(Aircraft delivering January 2008 through July 2008)      SA 45    A-2.3  
Aircraft Configuration - Model 737-824 (Aircraft scheduled to deliver between
August 2008 and October 2010)      SA 50   

 

P.A. 1951

    SA 62 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

TABLE OF CONTENTS

 

     SA
Number  

EXHIBITS (continued)

      

A-2.4

  Aircraft Configuration - Model 737-824 (Aircraft scheduled to deliver in or
after November 2010)      SA 50   

A-3

  Aircraft Configuration - Model 737-624      SA 1   

A-4

  Aircraft Configuration - Model 737-524      SA 3   

A-5

  Aircraft Configuration - Model 737-924 (Aircraft delivering through July 2004)
     SA 26   

A-6

  Aircraft Configuration - Model 737-924ER (Aircraft delivering January 2008
through December 2008)      SA 45   

A-6.1

  Aircraft Configuration - Model 737-924ER (Aircraft delivering during or after
January 2009 and before December 2010)      SA 53   

A-6.2

  Aircraft Configuration - Model 737-924ER (Aircraft delivering during or after
January 2011)      SA 53   

B

  Product Assurance Document      SA 1   

C

  Customer Support Document - Code Two - Major Model Differences      SA 1   

C1

  Customer Support Document - Code Three - Minor Model Differences      SA 39   

D

  Aircraft Price Adjustments - New Generation Aircraft (1995 Base Price -
Aircraft delivering through July 2004)      SA 1   

D1

  Airframe and Engine Price Adjustments - Current Generation Aircraft      SA 1
  

D2

  Aircraft Price Adjustments - New Generation Aircraft (1997 Base Price -
Aircraft delivering through July 2004)      SA 5   

 

P.A. 1951

    SA 62 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

TABLE OF CONTENTS

 

         SA
Number  

EXHIBITS (continued)

  

D3

  Aircraft Price Adjustments - New Generation Aircraft (July 2003 Base Price -
Aircraft delivering through December 2007)      SA 41   

D4

  Escalation Adjustment - Airframe and Optional Features (Aircraft delivering in
or after January 2008)      SA 41   

E

  Buyer Furnished Equipment Provisions Document      SA 39   

F

  Defined Terms Document      SA 5   

 

LETTER AGREEMENTS       

1951-1

  Not Used   

1951-2R4

  Seller Purchased Equipment      SA 39   

1951-3R22

  Option Aircraft-Model 737-824 Aircraft      SA 38   

1951-4R1

  Waiver of Aircraft Demonstration      SA 1   

1951-5R3

  Promotional Support - New Generation Aircraft      SA 48   

1951-6

  Configuration Matters   

1951-7R1

  Spares Initial Provisioning      SA 1   

1951-8R2

  Escalation Sharing - New Generation Aircraft      SA 4   

1951-9R20

  Option Aircraft-Model 737-724 Aircraft      SA 58      Attachment A     
Attachment B      SA 62   

1951-11R1

  Escalation Sharing-Current Generation Aircraft      SA 4   

1951-12R7

  Option Aircraft - Model 737-924 Aircraft      SA 32   

 

P.A. 1951

    SA 62 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

TABLE OF CONTENTS

 

         SA
Number  

LETTER AGREEMENTS (continued)

  

1951-13

  Configuration Matters - Model 737-924      SA 5   

1951-14

  Installation of Cabin Systems Equipment 737-924      SA 22   

1951-15

  Configuration Matters - Model 737-924ER      SA 39   

 

         SA
Number  

RESTRICTED LETTER AGREEMENTS

  

6-1162-MMF-295

  Performance Guarantees - Model 737-724 Aircraft   

6-1162-MMF-296

  Performance Guarantees - Model 737-824 Aircraft   

6-1162-MMF-308R4

  Disclosure of Confidential Information      SA 39   

6-1162-MMF-309R1

  ***      SA 1   

6-1162-MMF-311R8

  ***      SA 59   

6-1162-MMF-312R1

  Special Purchase Agreement Provisions      SA 1   

6-1162-MMF-319

  Special Provisions Relating to the Rescheduled Aircraft   

6-1162-MMF-378R1

  Performance Guarantees - Model 737-524 Aircraft      SA 3   

6-1162-GOC-015R1

  ***      SA 31   

6-1162-GOC-131R12

  Special Matters      SA 59   

 

P.A. 1951

    SA 62 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

TABLE OF CONTENTS

 

         SA
Number  

RESTRICTED LETTER AGREEMENTS (continued)

  

6-1162-DMH-365

  Performance Guarantees - Model 737-924 Aircraft      SA 5   

6-1162-DMH-624

  ***      SA 8   

6-1162-DMH-680

  Delivery Delay Resolution Program      SA 9   

6-1162-DMH-1020

  ***      SA 14   

6-1162-DMH-1035

  ***      SA 15   

6-1162-DMH-1054

  ***      SA 16   

6-1162-CHL-048

  Rescheduled Aircraft Agreement      SA 26   

6-1162-CHL-195

  Restructure Agreement for Model 737NG and 757-300 Aircraft      SA 30   

6-1162-MSA-768

  Performance Guarantees - Model 737-924ER Aircraft (Aircraft delivering prior
to May 2012)      SA 57   

6-1162-SEE-0361

  Performance Guarantees - Model 737-924ER Aircraft (Aircraft delivering May
2012 and on)      SA 57   

6-1162-SEE-133

  ***      SA 46   

6-1162-SEE-0176R4

  Record Option Proposals      SA 48   

6-1162-SEE-0187

  Passenger Service Unit Resolution      SA 50   

6-1162-SEE-0225R1

  Use of Aircraft - *** and Abuse Takeoff Testing      SA 50   

 

P.A. 1951

    SA 62 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

TABLE OF CONTENTS

 

         SA
Number  

RESTRICTED LETTER AGREEMENTS (continued)

  

6-1162-SEE-0263

  Use of Aircraft - 737NG Performance Improvement Package Testing      SA 50   

6-1162-RCN-1888

  Use of Aircraft - Boeing 747-800 and 787 Flight Test Training      SA 53   

6-1162-RCN-1890

  Use of Aircraft for Testing      SA 57   

6-1162-SEE-0326

  Model 737 - Koito Seat Resolution      SA 56   

CAL-PA-1951-LA-1208066

  Aircraft Performance Guarantees - Model 737-924ER Aircraft (delivering July
2013 and on)      SA 59   

CAL-PA-1951-LA-1209037

  ***      SA 59   

CAL-PA-1951-LA-1209110

  Privileged and Confidential Matters      SA 59   

CAL-PA-1951-LA-1210098

  Aircraft Acceleration from October 2012 to September 2012      SA 60   

 

P.A. 1951

    SA 62 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

TABLE OF CONTENTS

 

SUPPLEMENTAL AGREEMENTS

  

DATED AS OF:

Supplemental Agreement No. 1

   October 10, 1996

Supplemental Agreement No. 2

   March 5, 1997

Supplemental Agreement No. 3

   July 17, 1997

Supplemental Agreement No. 4

   October 10, 1997

Supplemental Agreement No. 5

   May 21, 1998

Supplemental Agreement No. 6

   July 30, 1998

Supplemental Agreement No. 7

   November 12, 1998

Supplemental Agreement No. 8

   December 7, 1998

Supplemental Agreement No. 9

   February 18, 1999

Supplemental Agreement No. 10

   March 19, 1999

Supplemental Agreement No. 11

   May 14, 1999

Supplemental Agreement No. 12

   July 2, 1999

Supplemental Agreement No. 13

   October 13, 1999

Supplemental Agreement No. 14

   December 13, 1999

Supplemental Agreement No. 15

   January 13, 2000

Supplemental Agreement No. 16

   March 17, 2000

Supplemental Agreement No. 17

   May 16, 2000

Supplemental Agreement No. 18

   September 11, 2000

Supplemental Agreement No. 19

   October 31, 2000

Supplemental Agreement No. 20

   December 21, 2000

Supplemental Agreement No. 21

   March 30, 2001

 

P.A. 1951

    SA 62 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

TABLE OF CONTENTS

 

SUPPLEMENTAL AGREEMENTS

  

DATED AS OF:

Supplemental Agreement No. 22

   May 23, 2001

Supplemental Agreement No. 23

   June 29, 2001

Supplemental Agreement No. 24

   August 31, 2001

Supplemental Agreement No. 25

   December 31, 2001

Supplemental Agreement No. 26

   March 29, 2002

Supplemental Agreement No. 27

   November 6, 2002

Supplemental Agreement No. 28

   April 1, 2003

Supplemental Agreement No. 29

   August 19, 2003

Supplemental Agreement No. 30

   November 4, 2003

Supplemental Agreement No. 31

   August 20, 2004

Supplemental Agreement No. 32

   December 29, 2004

Supplemental Agreement No. 33

   December 29, 2004

Supplemental Agreement No. 34

   June 22, 2005

Supplemental Agreement No. 35

   June 30, 2005

Supplemental Agreement No. 36

   July 21, 2005

Supplemental Agreement No. 37

   March 30, 2006

Supplemental Agreement No. 38

   June 6, 2006

Supplemental Agreement No. 39

   August 3, 2006

Supplemental Agreement No. 40

   December 5, 2006

Supplemental Agreement No. 41

   June 1, 2007

Supplemental Agreement No. 42

   June 13, 2007

Supplemental Agreement No. 43

   July 18, 2007

 

P.A. 1951

    SA 62 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

Supplemental Agreement No. 45

February 20, 2008

Supplemental Agreement No. 46

June 25, 2008

Supplemental Agreement No. 47

October 30, 2008

Supplemental Agreement No. 48

January 29, 2009

Supplemental Agreement No. 49

May 1, 2009

Supplemental Agreement No. 50

July 23, 2009

Supplemental Agreement No. 51

August 5, 2009

Supplemental Agreement No. 52

August 31, 2009

Supplemental Agreement No. 53

December 23, 2009

Supplemental Agreement No. 54

March 1, 2010

Supplemental Agreement No. 55

March 31, 2010

Supplemental Agreement No. 56

August 12, 2010

Supplemental Agreement No. 57

March 2, 2011

Supplemental Agreement No. 58

January 6, 2012

Supplemental Agreement No. 59

July 12, 2012

Supplemental Agreement No. 60

October 7, 2012

Supplemental Agreement No. 61

September 11, 2013

Supplemental Agreement No. 62

January 14, 2015

 

P.A. 1951

SA 62 BOEING / UNITED AIRLINES, INC. PROPRIETARY

--------------------------------------------------------------------------------

Table 1 to Purchase Agreement 1951

Aircraft Deliveries and Descriptions

Model 737-900ER Aircraft

 

Airframe Model/MTOW:

   737-900ER    *** pounds       Detail Specification:        ***      

Engine Model/Thrust:

   CFM56-7B***    *** 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:

$***

 

Delivery

Date

  

Number of

Aircraft

  

Escalation

Factor

(Airframe)

  

Serial

Number

        Escalation Estimate
Adv Payment Base
Price Per A/P  

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

                

***

  

***

  

***

  

***

***

   ***    ***       ***    *    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***       ***    **    $***   $***    $***    $***    $***

***

   ***    ***1    ***    **    $***   $***    $***    $***    $***

 

CAL

  T-6-1   SA 62 Boeing / United Airlines, Inc. Proprietary

--------------------------------------------------------------------------------

Table 1 to Purchase Agreement 1951

Aircraft Deliveries and Descriptions

Model 737-900ER Aircraft

 

 

Delivery

Date

  

Number of

Aircraft

   Escalation
Factor
(Airframe)    Serial
Number         Escalation Estimate
Adv Payment Base
Price Per A/P    Advance Payment Per Aircraft (Amts. Due/Mos. Prior to
Delivery):                   ***    ***    ***    ***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    ***    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    ***    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    ***    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    ***    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    ***    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    ***    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

***

   ***    ***    ***    **    $***    $***    $***    $***    $***

Total:

   34                        

 

1 ***

* *** Escalation Factors ***

** *** Escalation Factors ***

*** *** Escalation Factors ***

**** *** Escalation Factors ***

***** *** Escalation Factors ***

+ *** Escalation Factors ***

 

CAL

  T-6-2   SA 62 Boeing / United Airlines, Inc. Proprietary

--------------------------------------------------------------------------------

Attachment B to

Letter Agreement 1951-9R20

Option Aircraft Delivery, Description, Price and Advance Payments

 

Airframe Model/MTOW:

   737-700    ***                  

Detail Specification:        ***

     

Engine Model/Thrust:

   CFM56-7B***    *** 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:

$***

Non-Refundable Deposit/Aircraft at Def Agreemt:

$***

 

Delivery

Date

  

Number of

Aircraft

  

Escalation

Factor

(Airframe)

             Escalation Estimate
Adv Payment Base
Price Per A/P  

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

                

***

  

***

  

***

  

***

***

   ***    ***          $***   $***    $***    $***    $***

***

   ***    ***          $***   $***    $***    $***    $***

***

   ***    ***          $***   $***    $***    $***    $***

***

   ***    ***          $***   $***    $***    $***    $***

***

   ***    ***          $***   $***    $***    $***    $***

***

   ***    ***          $***   $***    $***    $***    $***

Total:

   ***                       

 

CAL

    SA-62 ***   Boeing Proprietary   Page 1 of 1