EXHIBIT 10.37

Confidential Treatment

Requested Pursuant to Rule 24b‑2

AMENDMENT N°8

TO THE

A350 FAMILY PURCHASE AGREEMENT

BETWEEN

AIRBUS S.A.S.

as Seller

and

AIR LEASE CORPORATION

As Buyer

Air Lease Corporation – A350XWB Family Purchase Agreement

 

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AMENDMENT N°8 TO THE

A350 FAMILY PURCHASE AGREEMENT

This amendment N°8 (the “Amendment N°8)  dated 27 December 2017 is made

BETWEEN:

AIRBUS S.A.S., a French société par actions simplifiée, with its registered
office at 2, rond-point Emile Dewoitine, 31700 Blagnac, France, registered with
the Commercial and Companies Register of Toulouse under number 383 474 814 (the
“Seller”),

and

AIR LEASE CORPORATION, a corporation organised and existing under the laws of
the State of Delaware, U.S.A., having its principal place of business at 2000
Avenue of the Stars, Suite 1000N, Los Angeles, California 90067, U.S.A. (the
“Buyer”).

The Buyer and Seller together are referred to as the “Parties”.

WHEREAS:

A.

The Buyer and the Seller have signed a purchase agreement with reference
CLC-CT1103521 on the 01 February 2013 for the manufacture and sale by the Seller
and purchase by the Buyer of twenty-five  (25)  firm A350 Family aircraft
hereinafter together with its Exhibits and Letter Agreements referred to as the
“Purchase Agreement”.

B.

On 03 March 2015,  the Buyer and the Seller entered into an Amendment N°1 to the
Purchase Agreement to modify the terms and conditions with respect to certain
A350XWB Family Aircraft.

C.

On 03 March 2015, the Buyer and the Seller entered into an Amendment N°2 to the
Purchase Agreement in order to, among other things, provide for the manufacture
and sale by the Seller and purchase by the Buyer of one (1) incremental A350‑900
Aircraft.

D.

On 08 September 2015, the Buyer and the Seller entered into an Amendment N°3 to
the Purchase Agreement for (i) the manufacture and sale by the Seller and
purchase by the Buyer of two (2) incremental A350‑900 Aircraft [*] .

E.

On 14 April 2016, the Buyer and the Seller entered into an Amendment N°4 to the
Purchase Agreement in order to (i) provide the terms by which the Seller shall
manufacture and sell and the Buyer shall purchase one (1) incremental A350‑900
Aircraft, and (ii) [*].

F.

On 25 May 2016,  the Buyer and the Seller entered into an Amendment N°5 to the
Purchase Agreement [*].

G.

On 18 July 2016, the Buyer and the Seller entered into an Amendment N°6 to the
Purchase Agreement in order to, among other things, (i) address specifications
issues for both A350‑900 Aircraft and A350‑1000 Aircraft, (ii) [*] and
(iii) [*].

H.

On 31 July 2017, the Buyer and the Seller entered into an Amendment N°7 to the
Purchase Agreement in order to [*].

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

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The Purchase Agreement as amended and supplemented pursuant to the foregoing
shall be referred to as the “Agreement”.

I.

[*].

J.

[*], the Buyer and the Seller will enter into:

-  an amendment N°4 to the A330neo Agreement dated as of even date herewith to
provide for the purchase of two (2) incremental A330‑900neo aircraft (the
“A330neo Amendment”); and

- an amendment N°21 to the A320 NEO Agreement dated as of even date herewith to
provide for the purchase of two (2) incremental A320 NEO aircraft and four
(4) incremental A321 NEO aircraft (the “A320 NEO Amendment”).

K.

The Buyer wishes to [*] pursuant to the terms and conditions set forth in this
Amendment N°8.

L.

In conjunction with paragraphs I, J and K above, the Buyer and the Seller now
wish to enter into this Amendment N°8 in order to, among other things, (i) [*]
and (ii) [*], subject to the terms set out herein.

The terms “herein”, “hereof” and “hereunder” and words of similar import refer
to this Amendment N°8. Capitalized terms used herein and not otherwise defined
herein shall have the meanings assigned thereto in the Agreement.

NOW IT IS HEREBY AGREED AS FOLLOWS:

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

 

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1.

[*]

2.

[*]

2.1[*]

2.2[*]

2.3The table in Clause 9.1 of the Agreement, as amended from time to time, is
hereby deleted in its entirety and replaced by the table set forth in Appendix 1
hereto.

2.4[*]

2.5[*]

2.6[*]

3.

SUPPORT/ TRAINING MATTERS

3.1[*], the Buyer and the Seller hereby agree that Appendix A to Clause 15 of
the Purchase Agreement, as may have been amended from time to time, shall be
deleted in its entirety and replaced as follows:

QUOTE

SELLER REPRESENTATIVE ALLOCATION

The Seller Representative allocation provided to the Buyer pursuant to Clause
15.1 is defined hereunder.

1The Seller will provide to the Buyer Seller Representative services at the
Buyer’s main base or at other locations to be mutually agreed for the fleet of
twenty-five (25) Aircraft will be [*] man-months in aggregate. This allocation
will be further assigned by the Buyer on a pro-rata basis to each of the Buyer’s
Operators. [*]

2For the sake of clarification, such Seller Representatives’ services will
include [*].

3The number of the Seller Representatives assigned to the Buyer at any one time
will be mutually agreed, [*] Seller Representatives.

UNQUOTE

3.2[*], the Buyer and the Seller hereby agree that Appendix A to Clause 16 of
the Agreement, as may have been amended from time to time, shall be deleted in
its entirety and replaced as follows:

QUOTE

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

 

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TRAINING ALLOWANCE

For the avoidance of doubt, all quantities indicated below are the total
quantities granted for the whole of the Buyer’s fleet of twenty-five (25)
Aircraft firmly ordered, unless otherwise specified. [*]

The contractual training courses defined in this Appendix A will be provided up
to [*].

Notwithstanding the above, flight operations training courses granted per
firmly ordered Aircraft in this Appendix A will be provided by the Seller within
a period [*].

Any deviation to said training delivery schedule will be mutually agreed between
the Buyer and the Seller.

1FLIGHT OPERATIONS TRAINING

1.1Flight Crew Training (standard transition course)

The Seller will provide flight crew training (standard transition course)
[*] for [*] of the Buyer’s flight crews per firmly ordered Aircraft.

1.2Extended Range For Twin Engine Aircraft Operations (ETOPS) Training

The Seller will provide [*] ETOPS training for [*] flight crews per firmly
ordered Aircraft.

1.3Flight Crew Line Initial Operating Experience

The Seller will provide to the Buyer pilot lnstructor(s) [*] for a period of [*]
pilot Instructor months in total for the fleet of twenty five (25) Aircraft.
This allocation will be further assigned by the Buyer on a prorata basis to each
Operator.

Unless otherwise agreed during the Training Conference, in order to follow the
Aircraft Delivery schedule, the maximum number of pilot Instructors present at
any one time will be limited to [*].

1.4Type Specific Cabin Crew Training Course

The Seller will provide to the Buyer [*] type specific training for cabin crews
for [*] in total for the fleet of twenty-five (25) Aircraft. This allocation
will be further assigned by the Buyer on a prorata basis to each of the Initial
Operators.

1.5Airbus Pilot Instructor Course (APIC)

The Seller will provide to the Buyer transition Airbus Pilot
Instructor Course(s) (APIC), for flight and synthetic instruction, [*] for [*]
of the Buyer’s flight instructors in total for the fleet of twenty-five (25)
Aircraft. This allocation will be further assigned by the Buyer on a prorata
basis to each of the Initial Operators. APIC courses will be performed in groups
of two (2) trainees.

2PERFORMANCE / OPERATIONS COURSE(S)

The Seller will provide to the Buyer [*] trainee days of performance /
operations training [*] for the Buyer’s personnel in total for the fleet of
twenty-five (25) Aircraft. This allocation will be further assigned by the Buyer
on a prorata basis to each of the Initial Operators.

3MAINTENANCE TRAINING

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

 

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3.1The Seller will provide to the Buyer [*] trainee days of maintenance training
[*]for the Buyer’s personnel in total for the fleet of twenty-five (25)
Aircraft. This allocation will be further assigned by the Buyer on a pro rata
basis to each of the Initial Operators.

3.2The Seller will provide to the Buyer [*] in total for the fleet of
twenty-four (25) Aircraft. This allocation will be further assigned by the Buyer
on a prorata basis to each of the Initial Operators.

4TRAINEE DAYS ACCOUNTING

Trainee days are counted as follows:

4.1For instruction at the Seller’s Training Centers: one (1) day of instruction
for one (1) trainee equals one (1) trainee day. The number of trainees
originally registered at the beginning of the course will be counted as the
number of trainees to have taken the course.

4.2For instruction outside of the Seller’s Training Centers: one (1) day
of instruction by one (1) Seller Instructor equals the actual number of
trainees attending the course or a minimum of twelve (12) trainee days, except
for structure maintenance training course(s).

4.3For structure maintenance training courses outside the Seller’s
Training Center(s), one (1) day of instruction by one (1) Seller Instructor
equals the actual number of trainees attending the course or the minimum number
of trainees as indicated in the Seller’s Customer Services Catalog.

4.4For practical training, whether on training devices or on aircraft, one
(1) day of instruction by one (1) Seller Instructor equals the actual number
of trainees attending the course or a minimum of six (6) trainee days.

UNQUOTE

4.BUYER FURNISHED EQUIPMENT

[*]

5.EFFECTIVITY

This Amendment N°8 will enter into full force and be binding upon the Parties
upon the fulfilment of each of the following conditions (the “Conditions”):

[*]

If the Conditions are not fulfilled on or before 29 December 2017, this
Amendment N°8 shall be terminated without further act and the Buyer and the
Seller shall have no obligation or liability to the other, whether in contract
or otherwise in respect of this Amendment N°8.

6.INCONSISTENCY AND CONFIDENTIALITY

6.1In the event of any inconsistency between the terms and conditions of the
Agreement and those of this Amendment N°8, the latter shall prevail to the
extent of such inconsistency, whereas the part of the Agreement not concerned by
such inconsistency shall remain in full force and effect.

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

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6.2This Amendment N°8 reflects the understandings, commitments, agreements,
representations and negotiations related to the matters set forth herein
whatsoever, oral and written, and may not be varied except by an instrument in
writing of even date herewith or subsequent hereto executed by the duly
authorised representatives of both Parties.

6.3This Amendment N°8 shall be treated by both Parties as confidential and shall
not be released in whole or in part to any third party without the prior consent
of the other Party except as may be required by law, or to professional advisors
for the implementation hereof.

7.COUNTERPARTS

This Amendment N°8 may be executed by the Parties in separate counterparts, each
of which when so executed and delivered shall be an original, but all such
counterparts shall together constitute one and the same instrument.

8.LAW AND JURISDICTION

This Amendment N°8 will be governed by and construed and the performance thereof
will be determined in accordance with the laws of the State of New York, without
giving effect to its conflicts of laws provisions that would result in the
application of the law of any other jurisdiction.

The provisions of Clause 22.6 of the Purchase Agreement shall apply to this
Amendment N°8 as if the same were set out in full herein, mutatis mutandis.

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IN WITNESS WHEREOF this Amendment N°8 was entered into the day and year first
above written.

For and on behalf of

For and on behalf of

 

 

 

 

 

 

 

 

 

 

AIR LEASE CORPORATION

AIRBUS S.A.S.

 

 

 

 

 

 

 

 

/s/ John L. Plueger

/s/ Christophe Mourey

 

 

By: John L. Plueger

By: Christophe Mourey

 

 

Its: CEO & President

Its: Senior Vice President Contracts

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APPENDIX 1

CAC ID

Aircraft Rank

Scheduled Delivery Month

Aircraft Type

[*]

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2017

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2024

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

 

 

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LETTER AGREEMENT NO  1 TO AMENDMENT NO  8

 

AIR LEASE CORPORATION

2000 Avenue of the Stars, Suite 1000N

Los Angeles, California 90067, U.S.A.

27 December 2017

Subject: [*]

AIR LEASE CORPORATION (the “Buyer") and AIRBUS S.A.S. (the “Seller") have
entered into an Amendment N° 8 dated even date herewith (the “Amendment”) to the
A350XWB Family Purchase Agreement dated 01 February 2013 (the "Agreement") which
covers, among other things, (i) [*] and (ii) [*].

Capitalized terms used herein and not otherwise defined in this Letter Agreement
shall have the meanings assigned thereto in the Agreement.

The Parties agree that this Letter Agreement, upon execution thereof, shall
constitute an integral, non-severable part of the Amendment, that the provisions
of the Amendment are hereby incorporated herein by reference, and that if the
Agreement, the Amendment and this Letter Agreement have specific provisions
which are inconsistent, the specific provisions contained in this Letter
Agreement shall govern.

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

Air Lease Corporation – A350XWB Family Purchase Agreement

 

Amendment No 8 – Letter Agreement No  1

 

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LETTER AGREEMENT NO  1 TO AMENDMENT NO  8

1.

[*]

2.

Assignment

Notwithstanding any other provision of this Letter Agreement or of the
Agreement, this Letter Agreement and the rights and obligations of the Buyer
herein shall not be assigned or transferred in any manner, and any attempted
assignment or transfer in contravention of the provisions of this Clause shall
be void and of no force or effect.

3.Confidentiality

This Letter Agreement (and its existence) shall be treated by both parties as
confidential and shall not be released (or revealed) in whole or in part to any
third party without the prior consent of the other party. In particular, each
party agrees not to make any press release concerning the whole or any part of
the contents and/or subject matter hereof or of any future addendum hereto
without the prior consent of the other party.

4.Counterparts

This Letter Agreement may be signed in separate counterparts. Each counterpart,
when signed and delivered (including counterparts delivered by facsimile
transmission), will be an original, and the counterparts will together
constitute one same instrument.

 

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

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Amendment No 8 – Letter Agreement No  1

 

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LETTER AGREEMENT NO  1 TO AMENDMENT NO  8

If the foregoing correctly sets forth our understanding, please execute two
(2) originals in the space provided below and return one (1) original of this
Letter Agreement to the Seller.

 

 

Agreed and Accepted

Agreed and Accepted

 

 

For and on behalf of

For and on behalf of

 

 

 

 

 

 

AIR LEASE CORPORATION

AIRBUS S.A.S.

 

 

 

 

 

 

/s/ John L. Plueger

/s/ Christophe Mourey

 

 

By:    John L. Plueger

By:    Christophe Mourey

 

 

Its:    CEO & President

Its:    Senior Vice President Contracts

 

 

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LETTER AGREEMENT NO    2 TO AMENDMENT NO  8

 

AIR LEASE CORPORATION

2000 Avenue of the Stars, Suite 1000N

Los Angeles, California 90067, U.S.A.

27 December 2017

Subject: [*]

AIR LEASE CORPORATION (the “Buyer") and AIRBUS S.A.S. (the “Seller") have
entered into an Amendment N° 8 dated even date herewith (the “Amendment”) to the
A350XWB Family Purchase Agreement dated 01 February 2013 (the "Agreement") which
covers, among other things, (i) [*] and (ii) [*] subject to the terms set out in
the Amendment.

Capitalized terms used herein and not otherwise defined in this Letter Agreement
shall have the meanings assigned thereto in the Agreement.

The Parties agree that this Letter Agreement, upon execution thereof, shall
constitute an integral, non-severable part of the Amendment, that the provisions
of the Amendment are hereby incorporated herein by reference, and that if the
Agreement, the Amendment and this Letter Agreement have specific provisions
which are inconsistent, the specific provisions contained in this Letter
Agreement shall govern.

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

Air Lease Corporation – A350XWB Family Purchase Agreement

 

Amendment No 8 – Letter Agreement No  2

 

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LETTER AGREEMENT NO    2 TO AMENDMENT NO  8

1.

[*]

2.

Assignment

Notwithstanding any other provision of this Letter Agreement or of the
Agreement, this Letter Agreement and the rights and obligations of the Buyer
herein shall not be assigned or transferred in any manner, and any attempted
assignment or transfer in contravention of the provisions of this Clause shall
be void and of no force or effect.

3.Confidentiality

This Letter Agreement (and its existence) shall be treated by both parties as
confidential and shall not be released (or revealed) in whole or in part to any
third party without the prior consent of the other party, [*]. In particular,
each party agrees not to make any press release concerning the whole or any part
of the contents and/or subject matter hereof or of any future addendum hereto
without the prior consent of the other party.

4.Counterparts

This Letter Agreement may be signed in separate counterparts. Each counterpart,
when signed and delivered (including counterparts delivered by facsimile
transmission), will be an original, and the counterparts will together
constitute one same instrument.

 

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

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Amendment No 8 – Letter Agreement No  2

 

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LETTER AGREEMENT NO    2 TO AMENDMENT NO  8

If the foregoing correctly sets forth our understanding, please execute two
(2) originals in the space provided below and return one (1) original of this
Letter Agreement to the Seller.

Agreed and Accepted

Agreed and Accepted

 

 

For and on behalf of

For and on behalf of

AIR LEASE CORPORATION

AIRBUS S.A.S.

/s/ John L. Plueger

/s/ Christophe Mourey

 

 

By:    John L. Plueger

By:    Christophe Mourey

 

 

Its:    CEO & President

Its:    Senior Vice President Contracts

 

 

 

 

 

 

Air Lease Corporation – A350XWB Family Purchase Agreement

 

Amendment No 8 – Letter Agreement No  2

 

Ref. CLC-CT1709653

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