EXHIBIT 10.18

Confidential Treatment
Requested Pursuant to Rule 24b-2

Supplemental Agreement No. 5

to

Purchase Agreement No. 03791

Between

THE BOEING COMPANY

and

AIR LEASE CORPORATION

THIS SUPPLEMENTAL AGREEMENT is entered into as of May 17, 2016 (Supplemental
Agreement No. 5) by and between THE BOEING COMPANY (Boeing) and AIR LEASE
CORPORATION (Customer).

All terms used but not defined in this Supplemental Agreement No. 5 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 agree to (i) amend the Purchase Agreement to
document Customer's purchase of three (3) firm 737-8 Aircraft (2015 base year)
(Incremental Aircraft) for delivery in the Nominal Delivery Months of [*]  and
(ii) designate the Incremental Aircraft as a Block D Aircraft (Block D
Aircraft);

WHEREAS, Boeing and Customer desire to amend the Purchase Agreement to identify
[*] as the lessee for one (1) Block D Aircraft scheduled to deliver in [*]. [*];

WHEREAS, Boeing and Customer desire to amend the Purchase Agreement to identify
[*] as the lessee for two (2) Block A Aircraft scheduled to deliver in [*].

 

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

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

1

BOEING PROPRIETARY

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

 

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

WHEREAS, [*].

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
Agreement by this reference. The new Table of Contents reflects the revisions
set forth in this Supplemental Agreement No. 5.

2.            TABLES.

a.           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

b.           Table 1C is deleted in its entirety, replaced by a revised Table 1C
provided hereto as Enclosure 3 and incorporated into the Purchase Agreement by
this reference.

c.           New Table 1D is added to the Purchase Agreement, provided hereto as
Enclosure 4 and incorporated into the Purchase Agreement by this reference.

3.            LETTER AGREEMENTS.

a.           Letter Agreement HAZ-PA-03791 -LA-1208078R2 titled Advance Payment
Matters is deleted in its entirety, replaced with a revised
HAZ-PA-03791-LA-1208078R3 provided hereto as Enclosure 5 and incorporated into
the Purchase Agreement by this reference. This revised Letter Agreement adds the
advance payment schedule for the Block D Aircraft.

b.           Letter Agreement HAZ-PA-03791-LA-1208083R1 titled [*] is deleted in
its entirety, replaced with a revised HAZ-PA-03791-LA-1208083R2 provided hereto
as Enclosure 6 and incorporated into the Purchase Agreement by this reference.
This revised Letter Agreement revises Attachment B to include [*].

c.           Letter Agreement HAZ-PA-03791-LA-1208090R1 titled Special Matters
is deleted in its entirety, replaced with a revised HAZ-PA-03791-LA-1208090R2

 

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

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

 

2

BOEING PROPRIETARY

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

 

provided hereto as Enclosure 7 and incorporated into the Purchase Agreement by
this reference. This revised Letter Agreement [*].

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/ James E. Carpenter

 

By:

 

/s/ Grant Levy

 

 

 

 

 

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.

 

 

 

3

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 (2011 base)

 

SA-5

1B

 

737-9 Block B Aircraft Information Table (2011 base)

 

SA-4

1C

 

737-8 Block C Aircraft Information Table (2014 base)

 

SA-5

1D

 

737-8 Block D Aircraft Information Table (2015 base)

 

SA-5

 

 

 

 

 

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

 

SA-4

LA-1208080

 

Assignment 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 737-9 Aircraft

 

SA-4

LA-1208088

 

Performance Matters

 

 

LA 1208089R1

 

[*]

 

SA-4

LA-1208090R2

 

Special Matters

 

SA-5

LA-1208091

 

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

 

 

LA-1208092

 

[*]

 

 

LA-1208958

 

[*]

 

 

LA-1208963

 

[*]

 

SA-4

 

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

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

i

BOEING PROPRIETARY

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

 

Enclosure 1

 

 

 

 

 

LA-1209052

 

[*]

 

 

LA-1300032

 

[*]

 

SA-4

LA 1400773

 

[*]

 

SA-4

LA-1401489

 

[*]

 

SA-4

 

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

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

 

 

 

ii

BOEING PROPRIETARY

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

 

Enclosure 2

Table 1A
To Purchase Agreement No. PA-03791
737-8 Block A (2011 base) 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-

0 pounds

 

Airframe Price Base Year/Escalation

[*]

[*]

 

1B

 

 

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 Pruchased Equipment (SPE) Estimate:

 

[*]

 

 

 

 

Refundable Deposit/Aircraft at Proposal Accept:

 

 

 

 

 

 

 

Delivery Date

Number of
Aircraft

Manufacturer
Serial No.

Escalation
Factor
(Airframe)

Lessee

P.A.
Exhibit A

Escalation Estimate
Adv Payment Base
Price Per A/P

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

[*]

[*]

[*]

[*]

[*]-2018

1

[*]

[*]

[*]

            

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

60388

[*]

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]-2019

[*] 

[*]

[*]

[*]

[*]

[*]

 

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

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

 

BOEING PROPRIETARY

Page 1 of 6

 

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

 

Enclosure 2

Table 1A
To Purchase Agreement No. PA-03791
737-8 Block A (2011 base) Aircraft Delivery, Description, Price and Advance
Payments

Delivery Date

Number of
Aircraft

Manufacturer
Serial No.

Escalation
Factor
(Airframe)

Lessee

P.A.
Exhibit A

Escalation Estimate
Adv Payment Base
Price Per A/P

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

[*]

1

[*]

[*]

[*]

              

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

 

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

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

 

 

BOEING PROPRIETARY

Page 2 of 6

 

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

 

Enclosure 2

Table 1A
To Purchase Agreement No. PA-03791
737-8 Block A (2011 bse) Aircraft Delivery, Description, Price and Advance
Payments

Delivery Date

Number of
Aircraft

Manufacturer
Serial No.

Escalation
Factor
(Airframe)

Lessee

P.A.
Exhibit A

Escalation Estimate
Adv Payment Base
Price Per A/P

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

[*]

1

[*]

[*]

—

               

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*] 

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

3

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

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

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

 

 

BOEING PROPRIETARY

Page 3 of 6

 

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

 

Enclosure 2

Table 1A
To Purchase Agreement No. PA-03791
737-8 Block A (2011 bse) Aircraft Delivery, Description, Price and Advance
Payments

Delivery Date

Number of
Aircraft

Manufacturer
Serial No.

Escalation
Factor
(Airframe)

Lessee

P.A.
Exhibit A

Escalation Estimate
Adv Payment Base
Price Per A/P

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

[*]

1

[*]

[*]

—

         

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

3

[*]

[*]

—

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

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

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

 

 

BOEING PROPRIETARY

Page 4 of 6

 

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

 

Enclosure 2

Table 1A
To Purchase Agreement No. PA-03791
737-8 Block A (2011 bse) Aircraft Delivery, Description, Price and Advance
Payments

Delivery Date

Number of
Aircraft

Manufacturer
Serial No.

Escalation
Factor
(Airframe)

Lessee

P.A.
Exhibit A

Escalation Estimate
Adv Payment Base
Price Per A/P

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

[*]

2

[*]

[*]

—

—

            

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

3

[*]

[*]

—

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

3

[*]

[*]

—

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

3

[*]

[*]

—

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

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

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

 

 

BOEING PROPRIETARY

Page 5 of 6

 

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

 

Enclosure 2

Table 1A
To Purchase Agreement No. PA-03791
737-8 Block A (2011 bse) Aircraft Delivery, Description, Price and Advance
Payments

Delivery Date

Number of
Aircraft

Manufacturer
Serial No.

Escalation
Factor
(Airframe)

Lessee

P.A.
Exhibit A

Escalation Estimate
Adv Payment Base
Price Per A/P

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

[*]

2

[*]

[*]

—

—

            

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

2

[*]

[*]

—

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

—

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

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

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

 

 

BOEING PROPRIETARY

Page 6 of 6

 

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

 

Enclosure 2

Table 1A
To Purchase Agreement No. PA-03791
737-8 Block A (2011 bse) Aircraft Delivery, Description, Price and Advance
Payments

Delivery Date

Number of
Aircraft

Manufacturer
Serial No.

Escalation
Factor
(Airframe)

Lessee

P.A.
Exhibit A

Escalation Estimate
Adv Payment Base
Price Per A/P

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

[*]

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.

 

 

 

BOEING PROPRIETARY

Page 7 of 6

 

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

 

Enclosure 3

Table 1C
To Purchase Agreement No. PA-03791
737-8 Block C (2014 Base) Aircraft Delivery, Description, Price and Advance
Payments

 

 

 

 

 

 

 

Airframe Model/MTOW:

737-8

181,200 Pounds

       

Detail Specification:

D019A008-J

 

 

 

 

 

 

(1/16/2015)

 

Engine Model/Thrust:

CFMLEAP-

25,000 pounds

 

Airframe Price Base Year/Escalation

[*]

[*]

 

1B25

 

 

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

Manufacturer
Serial No.

Escalation
Factor
(Airframe)

Lessee

P.A.
Exhibit A

Escalation
Estimate
Adv Payment Base
Price Per A/P

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

 

 

 

 

 

               

 

 

 

 

 

[*]-2019

1

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

 

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

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

 

 

 

 

BOEING PROPRIETARY

Page 1 of 2

 

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

 

Enclosure 3

Table 1C
To Purchase Agreement No. PA-03791
737-8 Block C (2014 Base) Aircraft Delivery, Description, Price and Advance
Payments

Delivery
Date

Number of
Aircraft

Manufacturer
Serial No.

Escalation
Factor
(Airframe)

Lessee

P.A.
Exhibit A

Escalation
Estimate
Adv Payment Base
Price Per A/P

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

[*]

1

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

 

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

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

 

 

BOEING PROPRIETARY

Page 2 of 2

 

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

 

Enclosure 3

Table 1C
To Purchase Agreement No. PA-03791
737-8 Block C (2014 Base) Aircraft Delivery, Description, Price and Advance
Payments

Delivery
Date

Number of
Aircraft

Manufacturer
Serial No.

Escalation
Factor
(Airframe)

Lessee

P.A.
Exhibit A

Escalation
Estimate
Adv Payment Base
Price Per A/P

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

[*]

1

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]-2022

[*]

 

 

[*]

[*]

[*]

[*]

[*]

Total:

8

 

 

 

 

 

 

 

 

 

 

[*]

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.

 

 

 

BOEING PROPRIETARY

Page 3 of 2

 

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

 

Enclosure 4

Table 1D
To Purchase Agreement No. PA-03791
737-8 Block D (2015 Base) Aircraft Delivery, Description, Price and Advance
Payments

 

 

 

 

 

 

 

Airframe Model/MTOW:

737-8

181,200 Pounds

 

Detail Specification:

D019A008-L (10/5/2015)

 

Engine Model/Thrust:

CFMLEAP-

25,000 pounds

 

Airframe Price Base Year/Escalation

[*]

[*]

 

1B25

 

 

Formula:

 

 

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:

 

[*]

 

 

 

 

Refundable Deposit/Aircraft at Proposal Accept:

 

[*]

 

 

 

 

 

 

Delivery
Date

Numberof
Aircraft

Manufacturer
Serial
No.

Escalation
Factor
(Airframe)

Lessee

P.A.
Exhibit A

Escalation
Estimate
Adv Payment Base
Price Per A/P

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

[*]-2018

1

[*]

[*]

[*]

[*]

 

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

 

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

 

[*]

[*]

[*]

[*]

[*]

1

[*]

[*]

 

[*]

 

[*]

[*]

[*]

[*]

[*]

[*]

 

[*]

 

[*]

[*]

[*]

[*]

[*]-2021

[*]

 

[*]

 

[*]

[*]

[*]

[*]

Total:

3

 

 

 

 

 

 

 

 

 

[*]

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.

 

 

 

BOEING PROPRIETARY

Page 1

 

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

 

Enclosure 5

HAZ-PA-03791-LA-1208078R3

Air Lease Corporation

2000 Avenue of the Stars, Suite 1000N

Los Angeles, CA 90067

Subject:                Advance Payment Matters

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

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.

The Purchase Agreement incorporates the terms and conditions of HAZ-AGTA between
Boeing and Customer. This Letter Agreement modifies certain terms and conditions
of the AGTA with respect to the Aircraft.

1.            Deferred Advance Payment Schedule.

1.1          Notwithstanding the Aircraft advance payment schedule provided in
Table 1 of the Purchase Agreement, Customer may elect to pay an alternative
fixed advance payment schedule for the Aircraft, as set forth below (Alternative
Advance Payment Schedule).

 

 

 

 

[*]

[*]

[*]

[*]

[*]

[*]

—

—

[*]

[*]

[*]

[*]

[*]

[*]

—

—

[*]

[*]

—

—

[*]

[*]

—

—

[*]

—

[*]

—

[*]

—

[*]

—

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

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

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

 

BOEING PROPRIETARY

Page 1

 

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

 

 

Enclosure 5

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

[*]

[*]

[*]

[*]

[*]

 

1.2         [*]

2.            [*]

 

3.            [*]

 

4.            [*]

 

5.            Assignment.

Notwithstanding any other provisions of the Purchase Agreement, the rights and
obligations described in this Letter Agreement are provided to Customer in
consideration of Customer's taking title to the Aircraft at the time of delivery
and leasing the Aircraft and cannot be assigned in whole or, in part.

6.            Confidential Treatment.

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 6) 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 6. Customer
shall be fully responsible to Boeing for compliance with such obligations.

Very truly yours,

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

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

 

 

BOEING PROPRIETARY

Attachment B Page 2

 

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

 

 

Enclosure 5

THE BOEING COMPANY

By

/s/ James E. Carpenter

 

 

 

 

Its

 Attorney-in-fact

 

 

 

ACCEPTED AND AGREED TO this

 

 

 

Date:

May 17, 2016

 

 

 

AIR LEASE CORPORATION

 

 

 

By

/s/ Grant Levy

 

 

 

 

Its

Executive Vice President

 

 

 

 

 

BOEING PROPRIETARY

Attachment B Page 3

 

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

 

Enclosure 6

HAZ-PA-03791 -LA-1208083R2

Air Lease Corporation

2000 Avenue of the Stars, Suite 1000N

Los Angeles, CA 90067

Subject:               [*]

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.            [*]

2.            [*]

3.            [*]

4.            [*]

5.            [*]

6.            Assignment.

Notwithstanding any other provisions of the Purchase Agreement, the rights and
obligations described in this Letter Agreement are provided to Customer in
consideration of Customer taking title to the Aircraft at the time of delivery
and leasing the Aircraft to commercial operators and becoming the operator of
the Aircraft and cannot be assigned in whole or, in part.

7.            Confidential Treatment.

 

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

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

 

BOEING PROPRIETARY

Page 1

 

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

 

 

Enclosure 6

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 7), 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 7. Customer
shall be fully responsible to Boeing for compliance with such obligations.

Very truly yours,

THE BOEING COMPANY

By

/s/ James E. Carpenter

 

 

 

 

 

 

Its

Attorney-in-fact

 

 

 

 

ACCEPTED AND AGREED TO this

 

 

 

Date:

              May 17, 2016

 

 

 

 

AIR LEASE CORPORATION

 

 

 

By

/s/ Grant Levy

 

 

 

 

 

 

Its

Executive Vice President

 

 

 

 

 

 

 

BOEING PROPRIETARY

Attachment B Page 2

 

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

 

 

Enclosure 6

Attachment A to Letter Agreement HAZ-PA-03791-LA-1208083R2

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

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

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

 

 

 

 

BOEING PROPRIETARY

Attachment A Page 1

 

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

 

 

Enclosure 6

Attachment B to Letter Agreement HAZ-PA-03791-LA-1208083R2

[*] [*]:

[*]

 

 

[*]:

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

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

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

 

BOEING PROPRIETARY

Attachment B Page 1

 

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

 

 

Enclosure 6

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

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

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

 

 

BOEING PROPRIETARY

Attachment B Page 2

 

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

 

 

Enclosure 6

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

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

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

 

 

 

 

 

BOEING PROPRIETARY

Attachment B Page 3

 

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

 

 

Enclosure 7

HAZ-PA-03791-LA-1208090R2

Air Lease Corporation

2000 Avenue of the Stars, Suite 1000N

Los Angeles, CA 90067

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 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 [*], Boeing will issue to
Customer a leasing credit memorandum (Leasing Credit Memorandum) in an

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

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

 

BOEING PROPRIETARY

Page 1

 

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

 

 

Enclosure 7

amount shown in the table immediately below for the respective Aircraft or 737-9
[*] minor model [*]. 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       [*]

2.            Escalation of Credit Memoranda.  Unless otherwise noted, the
amounts of the Credit Memoranda stated in [*] 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).

 

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

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

 

 

BOEING PROPRIETARY

Page 2

 

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

 

 

Enclosure 7

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.

 

 

BOEING PROPRIETARY

Page 3

 

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

 

 

Enclosure 7

Very truly yours,

THE BOEING COMPANY

By

/s/ James E. Carpenter

    

 

 

 

 

 

Its

Attorney-in-fact

 

 

 

 

 

ACCEPTED AND AGREED TO this

 

 

 

 

 

Date:

June 21, 2016

 

 

 

 

 

AIR LEASE CORPORATION

 

 

 

 

 

By

/s/ Grant Levy

 

 

 

 

 

 

Its

Executive Vice President

 

 

 

 

 

BOEING PROPRIETARY

Page 4

 

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