Exhibit 10.7

FedEx Contract #

Supplemental Agreement No. 11

to

Purchase Agreement No. 3712

between

The Boeing Company

And

Federal Express Corporation

Relating to Boeing Model 767-3S2F Aircraft

THIS SUPPLEMENTAL AGREEMENT, entered into as of June 18, 2018 by and between THE
BOEING COMPANY (Boeing) and FEDERAL EXPRESS CORPORATION (Customer);

W I T N E S S E T H:

A. WHEREAS, the parties entered into Purchase Agreement No. 3712, dated
December 14, 2011 (Purchase Agreement), relating to the purchase and sale of
certain Boeing Model 767-3S2F Aircraft (the Aircraft); and

B. WHEREAS, Customer desires to add six (6) incremental Aircraft to the Purchase
Agreement, such Aircraft to be designated as either Block B or Block C Aircraft,
with delivery dates as follows:

 

Delivery Month & Year

of new Aircraft

 

   Block    

[*]

 

  

Block C

 

   

 

[*]

  

Block C

 

   

[*]

 

  

Block C

 

   

[*]

 

  

Block C

 

   

[*]

 

  

Block C

 

   

[*]

 

  

Block B

 

C. WHEREAS, Customer desires to reschedule the delivery month of one
(1) Aircraft as set forth in the table below:

 

 

   BOEING PROPRIETARY       SA11–1   

 

*

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.

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

Supplemental Agreement No.11 to

Purchase Agreement No. 3712

 

Current

Delivery Month

& Year

  

Revised

Delivery Month

& Year

   Block   

Table

Reference

       

[*]

 

  

[*]

 

  

Block E

 

  

Table 1-A2

 

D. WHEREAS, Customer desires to exercise six (6) Option Aircraft, which shall be
designated as Block C Aircraft, with delivery months as set forth in the table
below (SA-11 Option Exercise Aircraft):

 

Delivery Month &

Year for Exercised

Option Aircraft

   Block    

[*]

 

  

Block C

 

   

[*]

 

  

Block C

 

   

[*]

 

  

Block C

 

   

[*]

 

  

Block C

 

   

[*]

 

  

Block C

 

   

[*]

 

  

Block C

 

E. WHEREAS, Customer desires to add six (6) Option Aircraft to the Purchase
Agreement, hereinafter referred to as Option Aircraft, with delivery months as
set forth in the table below:

 

Delivery Month &

Year for Option

Aircraft

   Block    

[*]

 

  

Option Aircraft

 

   

[*]

 

  

Option Aircraft

 

   

[*]

 

  

Option Aircraft

 

   

[*]

 

  

Option Aircraft

 

   

[*]

 

  

Option Aircraft

 

   

[*]

 

  

Option Aircraft

 

F. WHEREAS, Customer desires to cancel six (6) Purchase Rights from the Purchase
Agreement.

 

BOEING PROPRIETARY

SA11-2

 

*

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.

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

Supplemental Agreement No.11 to

Purchase Agreement No. 3712

 

G. WHEREAS, Boeing desires to provide an additional business consideration to
Customer.

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

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. 11.

 

2.

Boeing and Customer acknowledge and agree that upon execution of this
Supplemental Agreement No. 11 and upon fulfillment of the conditions described
in Article 16 below, (i) five (5) of the Aircraft described in Recital Paragraph
B above are hereby added to the Purchase Agreement and are considered by the
parties as “Block C Aircraft” and will be deemed “Aircraft” for all purposes
under the Purchase Agreement except as otherwise described herein, (ii) one
(1) of the Aircraft described in Recital Paragraph B above is hereby added to
the Purchase Agreement as a conditional firm aircraft and is considered by the
parties as a “Block B Aircraft” for all purposes under the Purchase Agreement
except as otherwise described herein, (iii) the one (1) Aircraft described in
Recital Paragraph C above is hereby rescheduled as described herein, (iv) the
six (6) Option Aircraft exercised as firm Aircraft described in Recital
Paragraph D above are hereby added to the Purchase Agreement and are considered
by the parties as “Block C Aircraft” and will be deemed “Aircraft” for all
purposes under the Purchase Agreement except as otherwise described herein,
(v) the six (6) Option Aircraft described in Recital Paragraph E above are
hereby added to the Purchase Agreement as “Option Aircraft” as described herein
and will be deemed such for all purposes under the Purchase Agreement except as
otherwise described herein, and (vi) six (6) Purchase Rights are hereby
cancelled from the Purchase Agreement decreasing the total quantity of Purchase
Rights to thirty-eight (38).

 

3.

Revise and replace in its entirety, Table 1-A1 with a revised Table 1-A1,
attached hereto, to add to the Purchase Agreement the six (6) Aircraft described
in Recital Paragraph B above.

 

BOEING PROPRIETARY

SA11-3

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

Supplemental Agreement No.11 to

Purchase Agreement No. 3712

 

4.

Revise and replace in its entirety, Table 1-A2 with a revised Table 1-A2,
attached hereto, to reschedule the delivery month of one (1) Aircraft as
identified in Recital Paragraph C above with a Table 1-A2 table reference.

 

5.

Revise and replace in its entirety, Table 1-B with a revised Table 1-B, attached
hereto, to add the six (6) Aircraft described in Recital Paragraph D above to
Table 1-B.

 

6.

Revise and replace in its entirety Attachment 1 to Letter Agreement
FED-PA-03712-LA-1106156R2, Option Aircraft, attached hereto, to reflect (i) the
deletion of the Option Aircraft referred to in Recital Paragraph D above, and
(ii) the addition of the Option Aircraft described in Recital Paragraph E above.

 

7.

Revise and replace in its entirety Attachment 3 to Letter Agreement
FED-PA-03712-LA-1106156R2, Option Aircraft, attached hereto, to reflect the
exercise of the Option Aircraft described in Recital Paragraph D above.

 

8.

Revise and replace in its entirety Attachment 4 to Letter Agreement
FED-PA-03712-LA-1106156R2, Option Aircraft, attached hereto, to reflect (i) the
addition of the six (6) Block C Aircraft described in Recital Paragraph B above,
(ii) the reschedule of the Aircraft described in Recital Paragraph C above,
(iii) the exercise of the Option Aircraft described in Recital Paragraph D above
and (iv) the addition of the Option Aircraft described in Recital Paragraph E
above.

 

9.

Revise and replace in its entirety Letter Agreement FED-PA-03712-LA-1106158R3,
Right to Purchase Additional Aircraft, with Letter Agreement
FED-PA-03712-LA-1106158R4, Right to Purchase Additional Aircraft, attached
hereto, to reflect the cancellation of six (6) Purchase Rights as described in
Recital Paragraph G above, resulting in a revised quantity of thirty-eight
(38) Purchase Rights.

 

10.

Revise and replace in its entirety Letter Agreement FED-PA-03712-LA-1106614R2,
Special Matters for Purchase Right Aircraft, with Letter Agreement
FED-PA-03712-LA-1106614R3, Special Matters for Purchase Right Aircraft, attached
hereto, to reflect the letter agreement revision described in Paragraph 9 above.

 

11.

Revise and replace in its entirety Letter Agreement FED-PA-03712-LA-1208949,
Special Matters for Block C Aircraft in Table 1-A1, with Letter Agreement
FED-PA-03712-LA-1208949R1, Special Matters for Aircraft in Table 1-A1, attached
hereto, to revise the applicability of the letter agreement to include the Block
B Aircraft described in Recital Paragraph B above.

 

BOEING PROPRIETARY

SA11-4

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

Supplemental Agreement No.11 to

Purchase Agreement No. 3712

 

12.

Revise and replace in its entirety Letter Agreement 6-1162-SCR146R1, Special
Provision – Block B and Block G Aircraft, with Letter Agreement 6-1162-SCR146R2,
Special Provision – Block B and Block G Aircraft, attached hereto, to revise the
applicability of the letter agreement to include the Block B Aircraft described
in Recital Paragraph B above.

 

13.

Add Letter Agreement 6-1169-LKJ-0773, Special Matters – SA-11, attached hereto,
to provide additional business considerations to Customer.

 

14.

For the sake of clarity, the parties confirm and agree that the (i) five (5)
Block C Aircraft and one (1) Block B Aircraft described in Recital Paragraph B
above added herein and (ii) six (6) Block C Aircraft described in Recital
Paragraph D above added herein shall be subject to Letter Agreement
FED-PA-03712-LA-1106159R1, Special Matters Concerning [*] and Letter Agreement
FED-PA-03712-LA-1106584R4, Aircraft Performance Guarantees.

 

15.

As a result of the changes incorporated in this Supplemental Agreement No. 11,
Customer will [*] applicable to each of the six (6) Aircraft described in
Recital Paragraph B above and added to the Purchase Agreement pursuant to this
Supplemental Agreement No. 11, (ii) [*] applicable to each of the six (6) Block
C Aircraft described in Recital Paragraph D above and added to the Purchase
Agreement pursuant to this Supplemental Agreement No. 11 and (iii) an Option
Deposit [*] for each of the six (6) Option Aircraft described in Recital
Paragraph E above and added to the Purchase Agreement pursuant to this
Supplemental Agreement No. 11 and (iv) [*] applicable to the Aircraft described
in Recital Paragraph C above as a result of the reschedule of such Aircraft. The
foregoing results in an [*] (SA-11 Payment Amount). For clarity, the terms
“pre-delivery payment (s)”, “PDP (s)” and “advance payment (s)” are used on an
interchangeable basis. [*].

 

16.

This Supplemental Agreement No. 11 to the Purchase Agreement shall not be
effective until (i) executed and delivered by the parties on or prior to
June 26, 2018, and (ii) Customer and Boeing execute and deliver Supplemental
Agreement No. 30 to Purchase Agreement No. 3157 on or prior to June 26, 2018.

 

BOEING PROPRIETARY

SA11-5

 

*

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.

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

Supplemental Agreement No.11 to

Purchase Agreement No. 3712

 

EXECUTED as of the day and year first above written.

 

THE BOEING COMPANY     By:  

/s/ L. Kirsten Jensen

      Its:  

Attorney-In-Fact

      FEDERAL EXPRESS CORPORATION       By:  

/s/ Phillip C. Blum

      Its:  

Vice President Aircraft Acquisition

     

 

BOEING PROPRIETARY

SA11-6

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

TABLE OF CONTENTS

 

ARTICLES   

SA
Number

 

1

   Quantity, Model and Description   

2

   Delivery Schedule   

3

   Price   

4

   Payment   

5

   Additional Terms    TABLES       

1-A

   Firm Aircraft Information Table      10  

1-A1

   Block B and Block C Aircraft Information Table      11  

1-A2

   Block E, Block F and Block G Aircraft Information Table      11  

1-B

   Exercised Option Aircraft Information Table      11  

1-B1

   Exercised Block D Option Aircraft Information Table      2  

1-C

   Exercised Purchase Right Aircraft Information Table      2  

EXHIBIT

      

A

   Aircraft Configuration      4  

B

   Aircraft Delivery Requirements and Responsibilities   

SUPPLEMENTAL EXHIBITS

      

AE1

   Escalation Adjustment/Airframe and Optional Features   

BFE1

   BFE Variables      2  

CS1

   Customer Support Variables   

EE1

   Engine Escalation, Engine Warranty and Patent Indemnity   

SLP1

   Service Life Policy Components   

 

 

FED-PA-03712       SA–11    BOEING PROPRIETARY   

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

LETTER AGREEMENTS

  

SA

Number

LA-1106151R2

  

LA-Special Matters Concerning [*] – Option

     

Aircraft and Certain Purchase Right Aircraft

   6

LA-1106152

  

LA-Special Matters Concerning [*] – Firm Aircraft

  

LA-1106153

  

LA-Liquidated Damages Non-Excusable Delay

  

LA-1106154R2

  

LA-Firm Aircraft and Option Aircraft Delivery Matters

   6

LA-1106155

  

LA-Open Configuration Matters

  

LA-1106156R2

  

LA-Option Aircraft

   6   

Attachment 1 to LA-1106156R2

   11   

Attachment 2 to LA-1106156R2

   6   

Attachment 3 to LA-1106156R2

   11   

Attachment 4 to LA-1106156R2

   11

LA-1106157

  

AGTA Amended Articles

  

LA-1106158R4

  

LA-Right to Purchase Additional Aircraft

   11

LA-1106159R1

  

LA-Special Matters Concerning [*]

   1

LA-1106160

  

LA-Spare Parts Initial Provisioning

  

LA-1106163

  

LA-Demonstration Flight Waiver

  

LA-1106177R1

  

LA-[*]

   6

LA-1106207R1

  

LA-Special Matters Firm Aircraft

   1

LA-1106208R1

  

LA-Special Matters Option Aircraft

   1

LA-1106574R1

  

LA-Agreement for Deviation from the [*]

   6

LA-1106584R4

  

LA-Aircraft Performance Guarantees

   6

LA-1106586

  

LA-Miscellaneous Matters

  

LA-1106614R3

  

LA-Special Matters for Purchase Right Aircraft

   11

LA-1106824

  

LA-Customer Support Matters

  

LA-1208292R2

  

LA-Special Matters Concerning Escalation – Block B, Block C, Block E,

     

Block F and Block G Aircraft

   6

LA-1208296R1

  

LA-Special Matters for Block D Option Aircraft

   6

LA-1208949R1

  

LA-Special Matters for Aircraft in Table 1-A1

   11

6-1162-SCR-146R2

  

LA Special Provision — Block B and Block G Aircraft

   11

LA-1306854R1

  

Performance Guarantees, Demonstrated Compliance

   6

6-1162-LKJ-0696R6

  

LA-[*]

   6

6-1162-LKJ-0705

  

LA-Special Matters for Block E, Block F and Block G Aircraft in Table 1-A2

  

6-1162-LKJ-0707

  

LA- Agreement Regarding [*]

   6

 

 

FED-PA-03712       SA–11    BOEING PROPRIETARY   

 

*

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.

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

6-1162-LKJ-0709

  

[*] Special Matters

   6

6-1162-LKJ-0728

  

Special Matters – SA-8 Early Exercise Aircraft

   8

6-1162-LKJ-0744

  

Special Considerations – SA-10 Accelerated Aircraft

   10

6-1169-LKJ-0773

  

Special Matters – SA-11

   11

 

 

FED-PA-03712       SA–11    BOEING PROPRIETARY   

 

*

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.

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

SUPPLEMENTAL AGREEMENTS

  

DATED AS OF:

Supplemental Agreement No. 1

  

June 29, 2012

Supplemental Agreement No. 2

  

October 8, 2012

Supplemental Agreement No. 3

  

December 11, 2012

Supplemental Agreement No. 4

  

December 10, 2013

Supplemental Agreement No. 5

  

September 29, 2014

Supplemental Agreement No. 6

  

July 21, 2015

Supplemental Agreement No. 7

  

April 18, 2016

Supplemental Agreement No. 8

  

June 10, 2016

Supplemental Agreement No. 9

  

February 16, 2017

Supplemental Agreement No. 10

  

May 10, 2017

Supplemental Agreement No. 11

  

June     , 2018

 

 

FED-PA-03712       SA–11    BOEING PROPRIETARY   

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

Table 1-A1 to PA 3712

Aircraft Delivery, Description, Price and Advance Payments

Block B and Block C Incremental Aircraft

 

Airframe Model/MTOW:   767-300F   408,000 pounds   
Detail Specification: D019T002-K dated April 30, 2011   Engine Model/Thrust:  
CF6-80C2B6F   60,200 pounds   

Airframe Price Base Year/Escalation Formula:

  [*]     ECI-MFG/CPI Airframe Price:   [*]   

Engine Price Base Year/Escalation Formula:

  [*]     GE CF6-80 & GE90(99 rev.) 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:

  [*]    Engine Escalation Data:                  Seller Purchased Equipment
(SPE) Estimate:   [*]    Base Year Index (CPI):     [*]   Deposit per Aircraft:
  [*]         

 

                                  

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

Delivery    Number of    Escalation
Factor    Escalation
Factor              Escalation Estimate
Adv Payment Base   

At Signing

   24 Mos.    21/18/12/9/6 Mos.    Total

Date

  

Aircraft

  

(Airframe)

  

(Engine)

  

Block

  

MSN

  

Price Per A/P

  

1%

  

4%

  

5%

  

30%

[*]

   1    [*]    [*]    Block C    43544    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    44377    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    44378    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43542    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43543    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    44379    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    44380    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43545    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43546    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43547    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43548    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    42721    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    42722    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    61206    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43538    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*]

 

         Supplemental Agreement No. 11
FED-PA-03712 62134, 87796, 105239, 108705.TXT    Boeing Proprietary    Page 1

 

*

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.

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

Table 1-A1 to PA 3712

Aircraft Delivery, Description, Price and Advance Payments

Block B and Block C Incremental Aircraft

 

                                  

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

Delivery    Number of    Escalation
Factor    Escalation
Factor              Escalation Estimate
Adv Payment Base   

At Signing

   24 Mos.    21/18/12/9/6 Mos.    Total

Date

  

Aircraft

  

(Airframe)

  

(Engine)

  

Block

  

MSN

  

Price Per A/P

  

1%

  

4%

  

5%

  

30%

[*]

   1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block B       [*]    [*]    [*]    [*]    [*]

Total:

   25                           

 

         Supplemental Agreement No. 11
FED-PA-03712 62134, 87796, 105239, 108705.TXT    Boeing Proprietary    Page 2

 

*

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.

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

Table 1-A2 To

Purchase Agreement No. 3712

Aircraft Delivery, Description, Price and Advance Payments

Block E, Block F and Block G Aircraft

 

Airframe Model/MTOW:   767-300F   408,000 pounds   

Detail Specification: D019T002FED63F-1, Rev D dated March 26, 2015

Engine Model/Thrust:   CF6-80C2B6F   60,200 pounds   

Airframe Price Base Year/Escalation Formula:

  [*]   ECI-MFG/CPI Airframe Price:   [*]   

Engine Price Base Year/Escalation Formula:

  [*]   GE CF6-80 & GE90 (99 rev.) 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:   [*]    Engine Escalation
Data:     Seller Purchased Equipment (SPE):   [*]    Base Year Index (CPI):  
[*]   Deposit per Aircraft:   [*]       

 

 

                       

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

   

Number of

Aircraft

 

Escalation

Factor

(Airframe)

 

Escalation

Factor

(Engine)

 

Block

 

Escalation Estimate
Adv Payment Base

Price Per A/P

 

At Signing

1%

 

24 Mos.

4%

 

21/18/12/9/6 Mos.

5%

 

Total

30%

Delivery
Date

[*]

  1   [*]   [*]   Block E   [*]   [*]   [*]   [*]   [*]

[*]

  1   [*]   [*]   Block E   [*]   [*]   [*]   [*]   [*]

[*]

  1   [*]   [*]   Block E   [*]   [*]   [*]   [*]   [*]

[*]

  1   [*]   [*]   Block E   [*]   [*]   [*]   [*]   [*]

[*]

  1   [*]   [*]   Block E   [*]   [*]   [*]   [*]   [*]

[*]

  1   [*]   [*]   Block E   [*]   [*]   [*]   [*]   [*]

[*]

  1   [*]   [*]   Block E   [*]   [*]   [*]   [*]   [*]

 

         SA-11 FED-PA-03712 73706, 105237, 108705    Boeing Proprietary    Page
1

 

*

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.

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

Table 1-A2 To

Purchase Agreement No. 3712

Aircraft Delivery, Description, Price and Advance Payments

Block E, Block F and Block G Aircraft

 

                             

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

Delivery    Number of    Escalation
Factor    Escalation
Factor         Escalation Estimate
Adv Payment Base   

At Signing

   24 Mos.    21/18/12/9/6 Mos.    Total

Date

  

Aircraft

  

(Airframe)

  

(Engine)

  

Block

  

Price Per A/P

  

1%

  

4%

  

5%

  

30%

[*]    1    [*]    [*]    Block E    [*]    [*]    [*]    [*]    [*] [*]    1   
[*]    [*]    Block E    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]
   Block E    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block E
   [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block E    [*]   
[*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block E    [*]    [*]    [*]
   [*]    [*] [*]    1    [*]    [*]    Block E    [*]    [*]    [*]    [*]   
[*] [*]    1    [*]    [*]    Block E    [*]    [*]    [*]    [*]    [*] [*]   
1    [*]    [*]    Block E    [*]    [*]    [*]    [*]    [*] [*]    1    [*]   
[*]    Block E    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]   
Block E    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block E   
[*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block E    [*]    [*]
   [*]    [*]    [*] [*]    1    [*]    [*]    Block E    [*]    [*]    [*]   
[*]    [*] [*]    1    [*]    [*]    Block E    [*]    [*]    [*]    [*]    [*]
[*]    1    [*]    [*]    Block E    [*]    [*]    [*]    [*]    [*] [*]    1   
[*]    [*]    Block E    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]
   Block E    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block E
   [*]    [*]    [*]    [*]    [*]

 

      SA-11 FED-PA-03712 73706, 105237, 108705    Boeing Proprietary    Page 2

 

*

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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

Table 1-A2 To

Purchase Agreement No. 3712

Aircraft Delivery, Description, Price and Advance Payments

Block E, Block F and Block G Aircraft

 

                             

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

Delivery    Number of    Escalation
Factor    Escalation
Factor         Escalation Estimate
Adv Payment Base   

At Signing

   24 Mos.    21/18/12/9/6 Mos.    Total

Date

  

Aircraft

  

(Airframe)

  

(Engine)

  

Block

  

Price Per A/P

  

1%

  

4%

  

5%

  

30%

[*]    1    [*]    [*]    Block E    [*]    [*]    [*]    [*]    [*] [*]    1   
[*]    [*]    Block E    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]
   Block E    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block E
   [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block E    [*]   
[*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block E    [*]    [*]    [*]
   [*]    [*] [*]    1    [*]    [*]    Block E    [*]    [*]    [*]    [*]   
[*] [*]    1    [*]    [*]    Block E    [*]    [*]    [*]    [*]    [*] [*]   
1    [*]    [*]    Block E    [*]    [*]    [*]    [*]    [*] [*]    1    [*]   
[*]    Block F    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]   
Block F    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block F   
[*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block F    [*]    [*]
   [*]    [*]    [*] [*]    1    [*]    [*]    Block F    [*]    [*]    [*]   
[*]    [*] [*]    1    [*]    [*]    Block F    [*]    [*]    [*]    [*]    [*]
[*]    1    [*]    [*]    Block F    [*]    [*]    [*]    [*]    [*] [*]    1   
[*]    [*]    Block F    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]
   Block F    [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block F
   [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block F    [*]   
[*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block G    [*]    [*]    [*]
   [*]    [*] [*]    1    [*]    [*]    Block G    [*]    [*]    [*]    [*]   
[*] [*]    1    [*]    [*]    Block G    [*]    [*]    [*]    [*]    [*] [*]   
1    [*]    [*]    Block G    [*]    [*]    [*]    [*]    [*] Total:    50      
                 

 

         SA-11 FED-PA-03712 73706, 105237, 108705    Boeing Proprietary    Page
3

 

*

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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

Table 1-B To

Purchase Agreement No. 3712

Aircraft Delivery, Description, Price and Advance Payments

Exercised Option Aircraft

 

Airframe Model/MTOW:   767-300F   408,000 pounds   

Detail Specification: D019T002FED63F-1, Rev D dated March 26, 2015

Engine Model/Thrust:   CF6-80C2B6F   60,200 pounds   

Airframe Price Base Year/Escalation Formula:

  [*]   ECI-MFG/CPI Airframe Price:   [*]   

Engine Price Base Year/Escalation Formula:

  [*]   GE CF6-80 & GE90 (99 rev.) 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:   [*]    Engine Escalation
Data:     Seller Purchased Equipment (SPE) Estimate:   [*]    Base Year Index
(CPI):   [*]   Deposit per Aircraft:   [*]       

 

                                  

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

Delivery    Number of    Escalation
Factor    Escalation
Factor              Escalation Estimate
Adv Payment Base    At Signing    24 Mos.    21/18/12/9/6 Mos.    Total

Date

  

Aircraft

  

(Airframe)

  

(Engine)

  

Block

  

MSN

  

Price Per A/P

  

1%

  

4%

  

5%

  

30%

[*]

   1    [*]    [*]    Block C    61205    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43549    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43551    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block B 1    43630    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43552    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block B 1    43631    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block B 1    43632    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43553    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C    43554    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block B 1    43633    [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*]

 

         Supplemental Agreement No. 11
FED-PA-03712 57361,87796,105239,108571,108705    Boeing Proprietary    Page 1

 

*

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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

Table 1-B To

Purchase Agreement No. 3712

Aircraft Delivery, Description, Price and Advance Payments

Exercised Option Aircraft

 

                                  

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

Delivery    Number of    Escalation
Factor    Escalation
Factor              Escalation Estimate
Adv Payment Base   

At Signing

   24 Mos.    21/18/12/9/6 Mos.    Total

Date

  

Aircraft

  

(Airframe)

  

(Engine)

  

Block

  

MSN

  

Price Per A/P

  

1%

  

4%

  

5%

  

30%

[*]    1    [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*] [*]    1
   [*]    [*]    Block C       [*]    [*]    [*]    [*]    [*] [*]    1    [*]
   [*]    Block C       [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]
   Block C       [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block
C       [*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block C      
[*]    [*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block C       [*]   
[*]    [*]    [*]    [*] [*]    1    [*]    [*]    Block C       [*]    [*]   
[*]    [*]    [*]

[*]

   1    [*]   

[*]

   Block C       [*]    [*]    [*]    [*]    [*]

[*]

   1    [*]   

[*]

   Block C       [*]    [*]    [*]    [*]    [*]    22                        
  

 

1 

The Determination Date has passed and the special provision pursuant to Letter
Agreement 6-1162-SCR-146R1, Special Provision - Block B and Block G Aircraft,
has expired.

 

         Supplemental Agreement No. 11
FED-PA-03712 57361,87796,105239,108571,108705    Boeing Proprietary    Page 2

 

*

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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

Attachment 1 to

Letter Agreement No. FED-PA-03712-LA-1106156R2

Option Aircraft Delivery, Description, Price and Advance Payments

 

Airframe Model/MTOW:   767-300F   408,000 pounds   

Detail Specification: D019T002FED63F-1, Rev D dated March 26, 2015

Engine Model/Thrust:   CF6-80C2B6F   60,200 pounds   

Airframe Price Base Year/Escalation Formula:

  [*]   ECI-MFG/CPI Airframe Price:   [*]   

Engine Price Base Year/Escalation Formula:

  [*]   GE CF6-80 & GE90 (99 rev.) 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:   [*]    Engine Escalation
Data:     Seller Purchased Equipment (SPE) Estimate:   [*]    Base Year Index
(CPI):   [*]   Deposit per Aircraft:   [*]       

 

 

                       

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

Delivery   Number   

Escalation

Factor

 

Escalation

Factor

     

Escalation Estimate

Adv Payment Base

  At Signing   24 Mos.   21/18/12/9/6 Mos.   Total

Date

 

of Aircraft

 

(Airframe)

 

(Engine)

 

 

 

Price Per A/P

 

1%

 

4%

 

5%

 

30%

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

 

        

Supplemental Agreement No.11

Attachment 1, Revised June 2018

Page 1

FED-PA-03712-LA-1106156R2

73706, 88398-1O, 108764.

   Boeing Proprietary

 

*

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.

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

Attachment 1 to

Letter Agreement No. FED-PA-03712-LA-1106156R2

Option Aircraft Delivery, Description, Price and Advance Payments

 

                       

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

Delivery   Number   

Escalation

Factor

 

Escalation

Factor

     

Escalation Estimate

Adv Payment Base

  At Signing   24 Mos.   21/18/12/9/6 Mos.   Total

Date

 

of Aircraft

 

(Airframe)

 

(Engine)

 

 

 

Price Per A/P

 

1%

 

4%

 

5%

 

30%

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

[*]

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

Total:

  35                

 

        

Supplemental Agreement No.11

Attachment 1, Revised June 2018

Page 2

FED-PA-03712-LA-1106156R2

73706, 88398-1O, 108764.

   Boeing Proprietary

 

*

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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

Attachment 3 to

Letter Agreement No. FED-PA-03712-LA-1106156R2

[*]

[*]

Notes:

        (i) FED Customer Fiscal Year June 1 – May 31

        (ii) See paragraph 6.2 of Letter Agreement FED-PA-03712-LA-1106156R2 for
[*]

        (iii) [*]

[*]

 

FED-PA-03712-LA-1106156R2    SA-11
Option Aircraft, Attachment 3, Revised June 2018    Page 1    BOEING PROPRIETARY
  

 

*

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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

Attachment 4 to

Letter Agreement No. FED-PA-03712-LA-1106156R2

Firm Aircraft and Option Aircraft Delivery Schedule

[*]

Notes:

(i) FY: FED Customer Fiscal Year June 1 - May 31

(ii) Customer has the right to purchase thirty-eight (38) Purchase Right
Aircraft for delivery through [*]

 

FED-PA-03712-LA-1106156R2

   SA-11 Option Aircraft, Attachment 4, Revised June 2018    Page 1    BOEING
PROPRIETARY   

 

*

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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

LOGO [g618491g0908083633445.jpg]    The Boeing Company    P.O. Box 3707   
Seattle, WA 98124-2207

 

 

 

FED-PA-03712-LA-1106158 R4

Federal Express Corporation

3610 Hacks Cross

Memphis, TN 38125

 

Subject:    Right to Purchase Additional Aircraft Reference:    Purchase
Agreement No. 3712 (Purchase Agreement) between The Boeing Company (Boeing) and
Federal Express Corporation (Customer) relating to Model 767-3S2F aircraft
(Aircraft)

This letter agreement (Letter Agreement) amends and supplements the Purchase
Agreement. In addition, this Letter Agreement cancels and supersedes
FED-PA-03712-LA-1106158R3 in its entirety. All terms used but not defined in
this Letter Agreement shall have the same meaning as in the Purchase Agreement.

 

1.

Right to Purchase Incremental Aircraft.

Subject to the terms and conditions contained herein, Customer will have the
right to purchase (Purchase Right) thirty-eight (38) additional Boeing
Model 767-3S2F aircraft as purchase right aircraft (Purchase Right Aircraft).

 

2.

Delivery.

The Purchase Right Aircraft delivery positions are [*].

 

3.

Configuration.

The configuration for the Purchase Right Aircraft will be the Detail
Specification for Model 767-3S2F aircraft at the revision level in effect at the
time of the Supplemental Agreement. Such Detail Specification will be revised to
include (i) changes required to obtain required regulatory certificates and
(ii) other changes as mutually agreed upon by Boeing and Customer.

 

4.

Price.

4.1 The Airframe Price, Engine Price, Optional Features Prices, and Aircraft
Basic Price for the Purchase Right Aircraft shall remain in base year [*] and
such prices will be subject to escalation to the scheduled delivery date of the
Purchase Right Aircraft.

 

FED-PA-03712-LA-1106158R4    SA-11 Right to Purchase Additional Aircraft    Page
1    BOEING PROPRIETARY   

 

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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

LOGO [g618491g0908082928937.jpg]         

 

4.2 Subject to the provisions of Letter Agreement FED-PA-03712-LA-1106151R2
“Special Matters Concerning [*] – Option Aircraft and Certain Purchase Right
Aircraft”, the Airframe Price, Engine Price, Optional Features Prices, and
Aircraft Basic Price for each of the Purchase Right Aircraft will be adjusted
for escalation in accordance with the Purchase Agreement.

4.3 The Advance Payment Base Price for each exercised Purchase Right Aircraft
shall be developed in accordance with the terms of the Purchase Agreement and
determined at the time of Supplemental Agreement.

 

5.

Payment.

At Supplemental Agreement for the Purchase Right Aircraft, advance payments will
be payable as specified in the Purchase Agreement. The remainder of the Aircraft
Price for the Purchase Right Aircraft will be paid at the time of delivery.

 

6.

Notice of Exercise and Payment of Deposit.

6.1 Customer may exercise a Purchase Right by giving written notice (Notice of
Exercise) to Boeing. All Purchase Right aircraft must be exercised for delivery
no later than [*]. Such Notice of Exercise shall be accompanied by payment, by
electronic transfer to the account specified below, in accordance with the
Purchase Agreement. Such amount will be the initial advance payment due at
execution of the Supplemental Agreement.

 

      

[*]

6.2 The parties agree that Purchase Right Aircraft, once exercised, will be
added to Table 1-C of the Purchase Agreement.

 

7.

Supplemental Agreement.

Following Customer’s exercise of a Purchase Right in accordance with the terms
and conditions stated herein [*], the parties will sign a supplemental agreement
for the purchase of such Purchase Right Aircraft (Supplemental Agreement) within
thirty (30) calendar days of such exercise (Purchase Right Exercise). The
Supplemental Agreement will include the provisions then contained in the
Purchase Agreement as modified to reflect the provisions of this Letter
Agreement and any additional mutually agreed terms and conditions.

 

FED-PA-03712-LA-1106158R4    SA-11 Right to Purchase Additional Aircraft    Page
2    BOEING PROPRIETARY   

 

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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

LOGO [g618491g0908082928937.jpg]

 

8.

[*]

 

[*]

 

9.

General Expiration of Rights.

Each Purchase Right shall expire at the time of execution of the Supplemental
Agreement for the applicable Purchase Right Aircraft, or, if no such
Supplemental Agreement is executed, on [*].

 

10.

Confidential Treatment.

Customer understands that Boeing considers certain commercial and financial
information contained in this Letter Agreement as confidential. Each of Customer
and Boeing agree that it will treat this Letter Agreement and the information
contained herein as confidential. Customer agrees to limit the disclosure of the
contents of this Letter Agreement to employees of Customer with a need to know
and who understand that they are not to disclose its content to any other person
or entity without the prior written consent of Boeing. Notwithstanding the
foregoing, Customer may disclose this Letter Agreement and the terms and
conditions herein to its parent company, FedEx Corporation, to the Board of
Directors of its parent corporation, FedEx Corporation, to its professional
advisors under a duty of confidentiality with respect thereto, and as required
by law.

 

 

FED-PA-03712-LA-1106158R4    SA-11 Right to Purchase Additional Aircraft    Page
3    BOEING PROPRIETARY   

 

*

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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

LOGO [g618491g0908082928937.jpg]

Very truly yours,

 

  THE BOEING COMPANY   By  

/s/ L. Kirsten Jensen

  Its  

Attorney-In-Fact

    ACCEPTED AND AGREED TO this

 

    Date:  

June 18, 2018

 

    FEDERAL EXPRESS CORPORATION     By  

/s/ Phillip C. Blum

    Its  

Vice President Aircraft Acquisition

 

 

FED-PA-03712-LA-1106158R4    SA-11 Right to Purchase Additional Aircraft    Page
4    BOEING PROPRIETARY   

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

LOGO [g618491g0908082928937.jpg]    The Boeing Company    P.O. Box 3707   
Seattle, WA 98124-2207

 

 

 

FED-PA-03712-LA-1106614 R3

Federal Express Corporation

3610 Hacks Cross Road

Memphis, TN 38125

 

Subject:    Special Matters for Purchase Right Aircraft Reference:    Purchase
Agreement No. PA-3712 (Purchase Agreement) between The Boeing Company (Boeing)
and Federal Express Corporation (Customer) relating to Model 767-3S2F aircraft
(Aircraft)

This letter agreement (Letter Agreement) cancels and supersedes Letter Agreement
FED-PA-03712-LA-1106614R2 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 credit memoranda provided for in this Letter
Agreement will be applicable to exercised Purchase Right Aircraft only
(Exercised Purchase Right Aircraft), as described in letter agreement
FED-PA-03712-LA-1106158R4, Right to Purchase Additional Aircraft.

 

1.

Credit Memoranda.

[*]

 

2.

Escalation of Credit Memoranda.

Unless otherwise noted, the amounts of the Credit Memoranda stated in
Paragraphs 1.1 through 1.5 are in [*] base year dollars and will be escalated to
the scheduled month of the respective Exercised Purchase Right Aircraft delivery
pursuant to the Airframe Escalation formula set forth in the Purchase Agreement
applicable to the Exercised Purchase Right Aircraft. The Credit Memoranda may,
at the election of Customer, be [*].

 

3.

[*]

[*]

 

4.

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 Exercised Purchase Right
Aircraft at time of delivery and becoming the operator of the Exercised Purchase
Right Aircraft. This Letter Agreement cannot be assigned, in whole or in part,
without the prior written consent of Boeing, which will not be unreasonably
withheld.

 

FED-PA-03712-LA-1106614R3    SA-11 Special Matters for Purchase Right Aircraft
   Page 1    BOEING PROPRIETARY   

 

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Securities Exchange Act of 1934, as amended.

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

LOGO [g618491g0908082928937.jpg]         

 

5.

Confidentiality

Customer understands that Boeing considers certain commercial and financial
information contained in this Letter Agreement as confidential. Each of Customer
and Boeing agree that it will treat this Letter Agreement and the information
contained herein as confidential. Customer agrees to limit the disclosure of the
contents of this Letter Agreement to employees of Customer with a need to know
and who understand that they are not to disclose its content to any other person
or entity without the prior written consent of Boeing. Notwithstanding the
forgoing, Customer may disclose this Letter Agreement and the terms and
conditions herein to its parent company, FedEx Corporation, to the Board of
Directors of its parent corporation, FedEx Corporation, to its professional
advisors under a duty of confidentiality with respect hereto, and as required by
law.

Very truly yours,

 

  THE BOEING COMPANY   By  

/s/ L. Kirsten Jensen

  Its  

Attorney-In-Fact

    ACCEPTED AND AGREED TO this

 

    Date:  

June 18, 2018

 

    FEDERAL EXPRESS CORPORATION     By  

/s/ Phillip C. Blum

    Its  

Vice President Aircraft Acquisitions

& Planning and Performance

 

FED-PA-03712-LA-1106614R3    SA-11 Special Matters for Purchase Right Aircraft
   Page 2    BOEING PROPRIETARY   

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LOGO [g618491g0908082928937.jpg]    The Boeing Company    P.O. Box 3707   
Seattle, WA 98124-2207

 

 

 

FED-PA-03712-LA-1208949 R1

Federal Express Corporation

3610 Hacks Cross Road

Memphis, TN 38125

 

Subject:    Special Matters for Aircraft in Table 1-A1 Reference:    Purchase
Agreement No. PA-3712 (Purchase Agreement) between The Boeing Company (Boeing)
and Federal Express Corporation (Customer) relating to Model 767-3S2F aircraft
(Aircraft)

This letter agreement (Letter Agreement) cancels and supersedes Letter Agreement
FED-PA-03712-LA-1208949 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 credit memoranda provided for in this Letter
Agreement will be applicable to Block B Aircraft and Block C Aircraft, as
identified in Table 1-A1 of the Purchase Agreement (Table 1-A1 Aircraft).

 

1.

Credit Memoranda.

[*]

 

2.

Escalation of Credit Memoranda.

Unless otherwise noted, the amounts of the Credit Memoranda stated in
Paragraphs 1.1 through 1.5 are in [*] base year dollars and will be escalated to
the same time period as the Airframe pursuant to the Airframe Escalation formula
set forth in the Purchase Agreement applicable to the Table 1-A1 Aircraft. The
Credit Memoranda may, at the election of Customer, be [*].

 

3.

[*]

[*]

 

4.

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 Table 1-A1 Aircraft at time of
delivery and becoming the operator of the Aircraft. This Letter Agreement cannot
be assigned, in whole or in part, without the prior written consent of Boeing,
which will not be unreasonably withheld.

 

FED-PA-03712-LA-1208949    SA-11 Special Matters for Aircraft in Table 1-A1   
Page 1    BOEING PROPRIETARY   

 

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Securities Exchange Act of 1934, as amended.

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5.

Confidentiality

Customer understands that Boeing considers certain commercial and financial
information contained in this Letter Agreement as confidential. Each of Customer
and Boeing agree that it will treat this Letter Agreement and the information
contained herein as confidential. Customer agrees to limit the disclosure of the
contents of this Letter Agreement to employees of Customer with a need to know
and who understand that they are not to disclose its content to any other person
or entity without the prior written consent of Boeing. Notwithstanding the
foregoing, Customer may disclose this Letter Agreement and the terms and
conditions herein to its parent company, FedEx Corporation, to the Board of
Directors of its parent corporation, FedEx Corporation, to its professional
advisors under a duty of confidentiality with respect thereto, and as required
by law.

Very truly yours,

 

  THE BOEING COMPANY   By  

/s/ L. Kirsten Jensen

  Its  

Attorney-In-Fact

    ACCEPTED AND AGREED TO this

 

    Date:  

June 18, 2018

 

    FEDERAL EXPRESS CORPORATION     By  

/s/ Phillip C. Blum

    Its  

Vice President Aircraft Acquisition

 

FED-PA-03712-LA-1208949R1    SA-11 Special Matters for Aircraft in Table 1-A1   
Page 2    BOEING PROPRIETARY   

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LOGO [g618491g0908082929030.jpg]    The Boeing Company    P.O. Box 3707   
Seattle, WA 98124-2207

 

 

6-1162-SCR-146R2

Federal Express Corporation

3610 Hacks Cross

Memphis, TN 38125

 

Subject:    Special Provision – Block B and Block G Aircraft Reference:   
Purchase Agreement 3712 (the Purchase Agreement) between The Boeing Company
(Boeing) and Federal Express Corporation (Customer) relating to Model 767-3S2F
aircraft (the Aircraft)

This letter agreement (Letter Agreement) cancels and supersedes Letter Agreement
6-1162-SCR-146R1 and amends and supplements the Purchase Agreement. All terms
used but not defined in this Letter Agreement have the same meaning as in the
Purchase Agreement.

[*]

[Defined Terms]

“Block B Aircraft” means (i) the four (4) Option Aircraft exercised, as
identified in Table 1-B as Block B Aircraft, under Supplemental Agreement Number
1 to the Purchase Agreement and shall have the meaning as defined therein, and
(ii) the one (1) Aircraft added to the Purchase Agreement and identified in
Table 1-A1 as a Block B Aircraft pursuant to Supplemental Agreement No. 11 and
shall have the meaning as defined therein.

“Block G Aircraft” means the four (4) Aircraft identified in Table 1-A2 as Block
G Aircraft pursuant to Supplemental Agreement Number 6 to the Purchase Agreement
and shall have the meaning as defined therein.

[*]

“RLA” or “Railway Labor Act” means 45 USC Section 151 et seq.

“NLRA” or “National Labor Relations Act” means 29 USC Section 151 et seq.

 

6-1162-SCR-146R2    SA-11 Special Provision – Block B and Block G Aircraft   
Page 1    BOEING PROPRIETARY   

 

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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Very Truly Yours,

 

  THE BOEING COMPANY   By  

/s/ L. Kirsten Jensen

  Its  

Attorney-In-Fact

    ACCEPTED AND AGREED TO this

 

    Date:  

June 18, 2018

 

    FEDERAL EXPRESS CORPORATION     By  

/s/ Phillip C. Blum

    Its  

Vice President Aircraft Acquisition

 

6-1162-SCR-146R2    SA-11 Special Provision – Blocks B and Block G Aircraft   
Page 2    BOEING PROPRIETARY   

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LOGO [g618491g0908083633445.jpg]    The Boeing Company    P.O. Box 3707   
Seattle, WA 98124-2207

 

 

 

6-1162-LKJ-0773

Federal Express Corporation

3610 Hacks Cross Road

Memphis, TN 38125

 

Subject:    Special Matters – SA-11 Reference:    Purchase Agreement No. PA-3712
(Purchase Agreement) between The Boeing Company (Boeing) and Federal Express
Corporation (Customer) relating to Model 767-3S2F aircraft (Aircraft)

This letter agreement (Letter Agreement) amends and supplements the Purchase
Agreement. All terms used but not defined in this Letter Agreement have the same
meaning as in the Purchase Agreement.

In consideration of Boeing’s long term relationship with Customer, Boeing will
provide to Customer the following business consideration.

 

  1.

Business Consideration.

 

  [*]

 

  2.

Confidential Treatment.

Customer understands that Boeing considers certain commercial and financial
information contained in this Letter Agreement as confidential. Each of Customer
and Boeing agree that it will treat this Letter Agreement and the information
contained herein as confidential. Customer agrees to limit the disclosure of the
contents of this Letter Agreement to employees of Customer with a need to know
and who understand that they are not to disclose its content to any other person
or entity without the prior written consent of Boeing. Notwithstanding the
foregoing, Customer may disclose this Letter Agreement and the terms and
conditions herein to its parent company, FedEx Corporation, to the Board of
Directors of its parent corporation, FedEx Corporation, to its professional
advisors under a duty of confidentiality with respect thereto, and as required
by law.

 

6-1169-LKJ-0773    SA-11 Special Matters – SA-11    Page 1    BOEING PROPRIETARY
  

 

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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Very truly yours,

 

  THE BOEING COMPANY   By  

/s/ L. Kirsten Jensen

  Its  

Attorney-In-Fact

    ACCEPTED AND AGREED TO this

 

    Date:  

June 18, 2018

 

    FEDERAL EXPRESS CORPORATION     By  

/s/ Phillip C. Blum

    Its  

Vice President Aircraft Acquisitions & Planning and Performance

 

6-1169-LKJ-0773    SA-11 Special Matters – SA-11    Page 2    BOEING PROPRIETARY
  

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LOGO [g618491g0908082928937.jpg]    The Boeing Company    P.O. Box 3707   
Seattle, WA 98124-2207

 

 

FED-SU-1106178R3

Federal Express Corporation

3610 Hacks Cross Road

Memphis, TN 38125

 

Subject:    Federal Express Corporation [*] References:   

1) Purchase Agreement No. PA-03712 (767 Purchase Agreement) between The Boeing
Company (Boeing) and Federal Express Corporation (Customer) relating to
Model 767-3S2F aircraft (Aircraft)

   2) FED-MO-1105406 R1 Proposal for 767-300 Boeing Converted Freighter (BCF)
Program (Proposal for 25 767-300 BCF aircraft)    3) FED-MO-1105421 R1 Proposal
for 767-300 Boeing Converted Freighter Program (Proposal for 50 767-300 BCF
aircraft)

This agreement No. FED-SU-1106178R3, dated June ____, 2018, supersedes and
replaces in its entirety agreement No. FED-SU-1106178R2, dated July 21, 2015.

This Agreement incorporates the terms and conditions of Customer Services
General Terms Agreement No. S2-2 (“CSGTA”) between Boeing and Customer by
reference. All capitalized terms used but not defined in this Agreement have the
same meaning as in the CSGTA. On the date Customer accepts this offer it will
become an Order to the CSGTA.

 

1.

[*]

 

[*]

 

2.

Definitions

 

  2.1

“Agreement” means this Order to the CSGTA.

 

  2.2

[*]

 

  2.3

[*]

 

  2.4

[*]

 

  2.5

“Option Aircraft” means all exercised Aircraft options as listed in Table 1-B of
the 767 Purchase Agreement.

 

  2.6

“Purchase Right Aircraft” means all Purchase Right Aircraft as listed in Table
1-C of the 767 Purchase Agreement.

 

  2.7

[*]

 

  2.8

[*]

 

3.

Term

 

  3.1

Once this Agreement is executed, this Agreement will be in effect and [*].

 

  3.2

[*]

 

  3.3

[*]

 

FED-SU-1106178R3    [*]    Page 1    BOEING PROPRIETARY   

 

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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4.

[*]

 

  4.1

[*]

 

  4.2

[*]

 

  4.3

[*]

 

  4.4

[*]

 

  •  

Other than to a subsidiary of Customer, Customer may not assign [*] under this
Agreement, in whole or in part, without the prior written consent of Boeing.

  [*]

 

5.

Miscellaneous

5.1 Entire Agreement. This Agreement and the CSGTA contain the entire agreement
between the parties and supersede all previous proposals, understandings,
commitments or representations, oral or written, with respect to the subject
matter hereof.

5.2 Confidential Treatment. Customer understands that Boeing considers certain
commercial and financial information contained in this Agreement as
confidential. Customer and Boeing agree that it will treat this Agreement and
the information contained herein as confidential. Customer agrees to limit the
disclosure of the contents of this Agreement to employees of Customer with a
need to know and who understand that they are not to disclose its content to any
other person or entity without the prior written consent of Boeing.
Notwithstanding the forgoing, Customer may disclose this Agreement and the terms
and conditions herein to its parent company, FedEx Corporation, to the Board of
Directors of its parent company, FedEx Corporation, to its professional advisors
under a duty of confidentiality with respect hereto, and as required by law.

 

AGREED AND ACCEPTED this     June 18, 2018    

 

Date     THE BOEING COMPANY     FEDERAL EXPRESS CORPORATION /s/ Susan Englander
    /s/ Phillip C. Blum Signature     Signature Susan Englander     Phillip C.
Blum Printed name     Printed name

Attorney-in-Fact

    Vice President Aircraft Acquisitions
& Planning and Performance

Title

    Title

 

FED-SU-1106178R3    [*]    Page 2    BOEING PROPRIETARY   

 

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with the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

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LOGO [g618491g0908084414052.jpg]    The Boeing Company    P.O. Box 3707   
Seattle, WA 98124 2207

 

FED-MISC-LA-1804229    

Federal Express Corporation

3610 Hacks Cross Road

Memphis, TN 38125

 

Subject:    Boeing Global Services (BGS) – Special Matters

[*]

In consideration of Boeing’s long term relationship with Customer, and
Customer’s continued purchase of BGS goods and services to support operation of
the Boeing model 767 aircraft, Boeing will provide to Customer the following
business consideration.

 

  1.

Business Consideration.

 

  [*]

 

  2.

Confidentiality.

Customer understands that Boeing considers certain commercial and financial
information contained in this Letter Agreement as confidential. Each of Customer
and Boeing agree that it will treat this Letter Agreement and the information
contained herein as confidential. Customer agrees to limit the disclosure of the
contents of this Letter Agreement to employees of Customer with a need to know
and who understand that they are not to disclose its content to any other person
or entity without the prior written consent of Boeing. Notwithstanding the
foregoing, Customer may disclose this Letter Agreement and the terms and
conditions herein to its parent company, FedEx Corporation, to the Board of
Directors of its parent corporation, FedEx Corporation, to its professional
advisors under a duty of confidentiality with respect thereto, and as required
by law.

 

      Page 1    BOEING PROPRIETARY   

 

*

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.

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LOGO [g618491g0908084414052.jpg]         

 

Very truly yours,

 

  THE BOEING COMPANY   By   /s/ Susan Englander   Its   Attorney-In-Fact

    ACCEPTED AND AGREED TO this

 

    Date:   June 18, 2018

 

    FEDERAL EXPRESS CORPORATION     By   /s/ Phillip C. Blum     Its  

Vice President Aircraft Acquisitions

& Planning and Performance

 

FED-MISC-LA-1804229    Boeing Global Services - Special Matters    Page 2   
BOEING PROPRIETARY