Exhibit 10.2

Supplemental Agreement No. 21

to

Purchase Agreement No. 3157

between

The Boeing Company

And

Federal Express Corporation

Relating to Boeing Model 777-FREIGHTER Aircraft

THIS SUPPLEMENTAL AGREEMENT, entered into as of the 29th day of June 2012, by
and between THE BOEING COMPANY (Boeing) and FEDERAL EXPRESS CORPORATION
(Customer);

W I T N E S S E T H:

WHEREAS, the parties entered into that certain Purchase Agreement No. 3157,
dated November 7, 2006 (Purchase Agreement), relating to the purchase and sale
of certain Boeing Model 777-FREIGHTER Aircraft (Aircraft); and

WHEREAS, Customer desires to cancel four (4) Block B Aircraft as shown in the
Table below:

 

Manufacturer’s

Serial Number

  

Existing

Delivery Date

40677

   [*]

40678

   [*]

40680

   [*]

40681

   [*]

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

 

* Blank spaces contained confidential information which has been filed
separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Exchange Act of 1934, as amended.

 

P.A. No. 3157    1    SA 21    BOEING PROPRIETARY   

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All terms used herein and in the Purchase Agreement, and not defined herein,
shall have the same meaning as in the Purchase Agreement.

 

1. Remove and replace, in its entirety, the “Table of Contents” with the revised
Table of Contents, attached hereto, to reflect the changes made by this
Supplemental Agreement No. 21.

 

2. The following four (4) Block B Aircraft are hereby cancelled, and neither
Boeing nor Customer shall have any further obligation with respect thereto
except as set forth herein:

 

Manufacturer’s

Serial Number

  

Existing

Delivery Date

40677

   [*]

40678

   [*]

40680

   [*]

40681

   [*]

 

3. Remove and replace, in its entirety, Table 1-B with a revised Table 1-B,
attached hereto, to reflect the change in quantity of the Aircraft.

 

4. As a result of the changes incorporated in this Supplemental Agreement
No. 21, excess advance payments in the amount of [*] are currently held by
Boeing. Customer and Boeing agree that [*].

EXECUTED as of the day and year first above written.

 

THE BOEING COMPANY     FEDERAL EXPRESS CORPORATION By:   /s/ STUART C. ROSS    
By:   /s/ PHILLIP C. BLUM Its: Attorney-In-Fact     Its: Vice President

 

* Blank spaces contained confidential information which has been filed
separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Exchange Act of 1934, as amended.

 

P.A. No. 3157    2    SA 21    BOEING PROPRIETARY   

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

TABLE OF CONTENTS

 

          SA
NUMBER

ARTICLES

      

1.

  Quantity, Model and Description     

2.

  Delivery Schedule     

3.

  Price     

4.

  Payment     

5.

  Miscellaneous    TABLE       

1.

  Aircraft Information Table    15    

1A

  Block B [*] Aircraft Information Table    20    

1B

  Block B [*] Aircraft Information Table    21    

1C

  Block C Aircraft Information Table    13    

1C1

  Block C Aircraft Information Table (MSN 39285)    11    

1C2

  Block C Aircraft Information Table    20    

1D

  Block D Aircraft Information Table    20   EXHIBIT       

A.

  Aircraft Configuration    4  

A1.

  Aircraft Configuration (Block B Aircraft)    4  

A2.

  Aircraft Configuration (Block C Aircraft except MSN 39285)    11    

A3.

  Aircraft Configuration (Block C Aircraft w/ MSN 39285)    11    

A4.

  Aircraft Configuration (Block D Aircraft)    12    

B.

  Aircraft Delivery Requirements and Responsibilities    SUPPLEMENTAL EXHIBITS
    

AE1.

  Escalation Adjustment/Airframe and Optional Features     

CS1.

  Customer Support Variables     

EE1.

  Engine Escalation/Engine Warranty and Patent Indemnity     

SLP1.

  Service Life Policy Components   

 

* Blank spaces contained confidential information which has been filed
separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Exchange Act of 1934, as amended.

 

P.A. No. 3157    3    SA 21    BOEING PROPRIETARY   

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           SA
NUMBER LETTER AGREEMENT          

3157-01

   777 Spare Parts Initial Provisioning   

3157-02

   Demonstration Flight Waiver   

6-1162-RCN-1785

   [*]   

6-1162-RCN-1789

   Option Aircraft    Exercised    Attachment to Letter 6-1162-RCN-1789    in SA
# 4

6-1162-RCN-1790

   Special Matters   

6-1162-RCN-1791

   Performance Guarantees    4  

6-1162-RCN-1792

   Liquidated Damages Non-Excusable       Delay   

6-1162-RCN-1793

   Open Configuration Matters   

6-1162-RCN-1795

   AGTA Amended Articles   

6-1162-RCN-1796

   777 First-Look Inspection Program   

6-1162-RCN-1797

   Licensing and Customer Supplemental Type       Certificates   

6-1162-RCN-1798

   777 Boeing Converted Freighter    Deleted in       SA # 4

6-1162-RCN-1798 R1

   777 Boeing Converted Freighter    4  

6-1162-RCN-1799

   [*]   

6-1162-RRO-1062

   Option Aircraft    4    Attachment to Letter 6-1162-RRO-1062    20  

6-1162-RRO-1065

   Performance Guarantees for Block B Aircraft    4

6-1162-RRO-1066R1

   Special Matters for Block B Aircraft    4

6-1162-RRO-1067

   Special Matters for Option Aircraft detailed in    4    Letter Agreement
6-1162-RRO-1062   

6-1162-RRO-1068

   Special Provision – Block B Aircraft    4

FED-PA-LA-1000790R3

   Special Matters for Block C Aircraft    20  

FED-PA-LA-1001683R2

   Special Matters for Block D Aircraft    19  

6-1162-RRO-1144R7

   [*]    20  

6-1162-SCR-137

   777F Miscellaneous Matters    20  

 

* Blank spaces contained confidential information which has been filed
separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Exchange Act of 1934, as amended.

 

P.A. No. 3157    4    SA 21    BOEING PROPRIETARY   

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

SUPPLEMENTAL AGREEMENTS

  

DATED AS OF:

Supplemental Agreement No. 1

   May 12, 2008

Supplemental Agreement No. 2

   July 14, 2008

Supplemental Agreement No. 3

   December 15, 2008

Supplemental Agreement No. 4

   January 9, 2009

Supplemental Agreement No. 5

   January 11, 2010

Supplemental Agreement No. 6

   March 17, 2010

Supplemental Agreement No. 7

   March 17, 2010

Supplemental Agreement No. 8

   April 30, 2010

Supplemental Agreement No. 9

   June 18, 2010

Supplemental Agreement No. 10

   June 18, 2010

Supplemental Agreement No. 11

   August 19, 2010

Supplemental Agreement No. 12

   September 3, 2010

Supplemental Agreement No. 13

   August 27, 2010

Supplemental Agreement No. 14

   October 25, 2010

Supplemental Agreement No. 15

   October 29, 2010

Supplemental Agreement No. 16

   January 31, 2011

Supplemental Agreement No. 17

   February 14, 2011

Supplemental Agreement No. 18

   March 31, 2011

Supplemental Agreement No. 19

   October 27, 2011

Supplemental Agreement No. 20

   December 14, 2011

Supplemental Agreement No. 21

   June 29, 2012

 

P.A. No. 3157    5    SA 21    BOEING PROPRIETARY   

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Table 1-B to Purchase Agreement No. 3157

Aircraft Delivery, Description, Price and Advance Payments

Block B [*]

 

Airframe Model/MTOW:   777-Freighter   766000 pounds     
Detail Specification: D019W007FED7F-1, Rev E dated August 29, 2011 Engine
Model/Thrust:   GE90-110B1L   110000 pounds      Airframe Price Base
Year/Escalation Formula:   Jul-06   ECI-MFG/CPI Airframe Price:   [*]     
Engine Price Base Year/Escalation Formula:   N/A   N/A 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)   MSN      Escalation Estimate
Adv Payment Base
Price Per A/P   Advance Payment Per Aircraft (Amts. Due/Mos. Prior to 
Delivery):                    At Signing
1%   24 Mos.
4%   21/18/15/12/9/6
Mos. 5%   Total
35%

[*]

     1      [*]   40683      [*]   [*]   [*]   [*]   [*]

[*]

     1      [*]   40684      [*]   [*]   [*]   [*]   [*]

[*]

     1      [*]   40685      [*]   [*]   [*]   [*]   [*]

[*]

     1      [*]   40671      [*]   [*]   [*]   [*]   [*]

[*]

     1      [*]   40672      [*]   [*]   [*]   [*]   [*]

[*]

     1      [*]   40673      [*]   [*]   [*]   [*]   [*]

[*]

     1      [*]   40676      [*]   [*]   [*]   [*]   [*]

[*]

     1      [*]   40679      [*]   [*]   [*]   [*]   [*]

[*]

     1      [*]   40682      [*]   [*]   [*]   [*]   [*]

Total:

     9
                   

 

* Blank spaces contained confidential information which has been filed
separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Exchange Act of 1934, as amended.

 

APR 50270    

Supplemental Agreement #21

Page 1

  BOEING PROPRIETARY