EXHIBIT 10.5

 

Confidential Treatment
Requested Pursuant to Rule 24b-2

 

 

AMENDMENT N° 17

 

 

TO THE

 

 

A320 NEO FAMILY PURCHASE AGREEMENT

 

 

 

 

BETWEEN

 

 

 

 

AIRBUS S.A.S.

 

as Seller

 

 

 

 

and

 

 

 

 

AIR LEASE CORPORATION

 

As Buyer

Page 1/13

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AMENDMENT N° 17 TO THE

A320 NEO FAMILY PURCHASE AGREEMENT

 

This amendment N° 17 (the “Amendment N° 17”) dated 19 June 2017 is made

 

BETWEEN:

 

AIRBUS S.A.S., a  société par actions simplifiée, created and existing under
French law having its registered office at 1 Rond‑Point Maurice Bellonte, 31707
Blagnac-Cedex, France and registered with the Toulouse Registre du Commerce
under number RCS Toulouse 383 474 814 (the "Seller"),

 

and

 

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

 

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

 

WHEREAS:

 

A.  The Buyer and the Seller have signed a purchase agreement with reference
CLC-CT1103377 on the 10th May 2012 for the manufacture and sale by the Seller
and purchase by the Buyer of thirty-six (36) firm A320 NEO Family aircraft
hereinafter together with its Exhibits and Letter Agreements and as further
amended from time to time referred to as the “Agreement”.

 

B.  The Buyer and the Seller have signed an amendment No. 1 to the Agreement on
the 28th December 2012 for the manufacture and sale by the Seller and purchase
by the Buyer of fourteen (14) incremental A320 NEO Family aircraft referred to
as “Amendment N°1”.

 

C.   The Seller and the Buyer have signed an amendment No. 2 to the Agreement on
the 14th of July 2014 to (i) [*] and (ii) [*]; referred to as “Amendment N°2”. 

 

D.   The Buyer and the Seller have signed an amendment No. 3 to the Agreement on
14th July 2014 for the manufacture and sale by the Seller and purchase by the
Buyer of sixty (60) incremental A320 NEO Family aircraft referred to as
“Amendment N°3”.

 

E.   The Buyer and the Seller have signed an amendment No. 4 to the Agreement on
10th of October 2014 [*] referred to as “Amendment N°4”.

 

F.   The Buyer and the Seller have signed an amendment N°5 to the Purchase
Agreement on 3 March 2015 for the cancellation of sixty (60) Amendment 3 NEO

 

 

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

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Aircraft and for the manufacture and sale by the Seller and purchase by the
Buyer of ninety (90) incremental A321 NEO Family aircraft referred to as
“Amendment N°5”.

 

G.    The Buyer and the Seller have signed an amendment N°6 to the Purchase
Agreement on 18 March 2015 to [*], referred to as “Amendment N°6”.

 

H.    The Buyer and the Seller have signed an amendment N°7 to the Purchase
Agreement on 09 November 2015 in order to [*] referred to as “Amendment N°7”.

 

I.      The Buyer and the Seller have signed an amendment N°8 to the Purchase
Agreement on 08 January 2016 in order to [*] referred to as “Amendment N°8”.

 

J.     The Buyer and the Seller have signed an amendment N°9 to the Purchase
Agreement on 04 April  2016  in order to [*] referred to as “Amendment N°9”.

 

K.    The Buyer and the Seller have signed an amendment N°10 to the Purchase
Agreement on 12 April 2016 in order to [*] referred to as “Amendment N°10”.

 

L.    The Buyer and the Seller  have signed an amendment N°11 on 2 June 2016 in
order to [*] referred to as “Amendment N°11”.

 

M.   The Buyer and the Seller have signed an amendment n°12 on 17 August 2016 in
order to among other things (i) introduce the new A321-200NX standard
specification, [*] referred to as “Amendment N°12”.

 

N.   The Buyer and the Seller have signed an amendment N°13 on 20 December 2016
in order to [*] referred to as “Amendment N°13”.

 

O.   The Buyer and the Seller have signed an amendment N°14 on 3 March 2017 in
order to among others [*] referred to as “Amendment N°14”.

 

P.   The Buyer and the Seller have signed an amendment N°15 on 10 April 2017 in
order to, among other things, [*] referred to as “Amendment N°15”.

 

Q.   The Buyer and the Seller have signed an amendment N°16 on the same date
hereof in order to [*] referred to as “Amendment N°16”.

 

R.   The Parties now wish to provide for the manufacture and sale of twelve (12)
incremental A320 NEO Family aircraft,  subject to the terms and conditions set
out below.  

 

The terms “herein”, “hereof” and “hereunder” and words of similar import refer
to this Amendment N° 17. Capitalized terms used herein and not otherwise defined
herein will have the meanings assigned thereto in the Agreement.

 

NOW IT IS HEREBY AGREED AS FOLLOWS:

 

 

 

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

 

Page 3/13

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1.         SCOPE

 

The Seller hereby agrees to sell, and the Buyer agrees to purchase from the
Seller, twelve (12) incremental NEO aircraft (the “Amendment 17 NEO
Aircraft”) [*].

 

 

2.         DELIVERY SCHEDULE

 

2.1       The Amendment 17 NEO Aircraft are designated as A321 NEO Aircraft [*].

 

2.2       The Scheduled Delivery Month and Aircraft type of the Amendment 17 NEO
Aircraft will be as follows:

 

Aircraft Rank

Scheduled Delivery Month

Aircraft Type

Aircraft N°141

[*]

A321-200 NEO

Aircraft N°142

[*]

A321-200 NEO

Aircraft N°143

[*]

A321-200 NEO

Aircraft N°144

[*]

A321-200 NEO

Aircraft N°145

[*]

A321-200 NEO

Aircraft N°146

[*]

A321-200 NEO

Aircraft N°147

[*]

A321-200 NEO

Aircraft N°148

[*]

A321-200 NEO

Aircraft N°149

[*]

A321-200 NEO

Aircraft N°150

[*]

A321-200 NEO

Aircraft N°151

[*]

A321-200 NEO

Aircraft N°152

[*]

A321-200 NEO

 

2.3       Pursuant to the Buyer’s order of Amendment 17 NEO Aircraft, the table
in Clause 9.1 of the Agreement, as may have been amended from time to time, will
be deleted in its entirety and replaced by the one set forth in Appendix 1
hereto.

 

3.         [*]

 

 

4.         PRICING

 

[*]

 

 

5          PREDELIVERY PAYMENTS

 

5.1       Aircraft Rank [*]

 

 

 

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

 

Page 4/13

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5.1.1    Predelivery Payments in respect of the Amendment 17 NEO Aircraft with
Aircraft Rank [*] (as referred to in the table in Clause 2.2 above) will be made
in accordance with the Paragraph 3 of Letter Agreement N°3 to Amendment N°5.

 

5.2       Aircraft Rank [*]

 

5.2.1    [*] 

 

5.2.2    Solely with respect to the [*] Amendment 17 NEO Aircraft, Clause 5.3.3
of the Agreement shall be deleted in its entirety and replaced by the text
between quotes as follows: 

 

QUOTE

 

5.3.3    Predelivery Payments will be paid according to the following schedule:

 

For each [*] Amendment 17 NEO Aircraft, the Predelivery Payments will be paid to
the Seller according to the following schedule:

 

 

 

   Upon signature of Amendment N° 17 to the Agreement

 

[*]

 

 

 

Percentage of PDPRP:

 

 

   On the [*] prior to the Scheduled Delivery Month:

 

 

 

 

- [*] months

[*]% minus the USD [*] paid at signature of Amendment N°17

- [*] months

[*]%

- [*] months

[*]%

- [*] months

[*]%

- [*] months

[*]%

 

 

Total Predelivery Payment prior to Delivery

[*]%

 

Predelivery Payments theoretically falling due before signature of Amendment N°
17 to the Agreement will be payable [*].

 

UNQUOTE

 

6.        SUPPORT/ TRAINING MATTERS

 

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

 

QUOTE

 

SELLER REPRESENTATIVE ALLOCATION

 

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

 

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

Page 5/13

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1         The Seller will provide to the Buyer Seller Representative services at
the Buyer's main base or at other locations to be mutually agreed for the fleet
of one hundred and fifty two (152) Aircraft shall be [*] in aggregate. This
allocation shall be further assigned by the Buyer on a prorata basis to each of
the Buyer’s Operators. [*] In the event that the Agreement is terminated in
respect of any Aircraft, then the aggregate support allocations specified in
this Appendix A and which are not specified on a per Aircraft basis, shall be
reduced on a pro-rata basis by the ratio of the number of terminated Aircraft to
the total number of Aircraft pursuant to the Agreement (it being understood that
such reduction shall be rounded to the nearest whole number, if applicable).

 

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

 

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

 

UNQUOTE

 

6.2      The Buyer and the Seller hereby agree that Appendix A to Clause 16 of
the Agreement shall be deleted in its entirety and replaced as follows:

 

QUOTE

 

APPENDIX "A" TO CLAUSE 16

 

TRAINING ALLOWANCE

 

For the avoidance of doubt, all quantities indicated below are the total
quantities granted for the whole of the Buyer’s fleet of one hundred and fifty
two  (152) Aircraft firmly ordered, unless otherwise specified.  In the event
that the Agreement is terminated in respect of any Aircraft, then the aggregate
support allocations specified in this Appendix A and which are not specified on
a per Aircraft basis, shall be reduced on a pro-rata basis by the ratio of the
number of terminated Aircraft to the total number of Aircraft pursuant to the
Agreement (it being understood that such reduction shall be rounded to the
nearest whole number, if applicable).

 

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

 

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

 

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

 

1      FLIGHT OPERATIONS TRAINING

 

 

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

 

Page 6/13

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1.1       Flight Crew Training (standard transition course)

 

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

 

1.2       Flight Crew Line Initial Operating Experience

 

The Seller will provide to the Buyer pilot [*] in total for the Buyer’s fleet of
one hundred and fifty two (152) Aircraft firmly ordered and [*].

 

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

 

1.3       Type Specific Cabin Crew Training Course

 

The Seller will provide to the Buyer [*] in total for the Buyer’s fleet of one
hundred and fifty two (152) Aircraft firmly ordered.

 

2          PERFORMANCE / OPERATIONS COURSE(S)

 

The Seller will provide to the Buyer [*] in total for the Buyer’s fleet of one
hundred and fifty two (152) Aircraft firmly ordered.

 

3          MAINTENANCE TRAINING

 

3.1       The Seller will provide to the Buyer [*] in total for the buyer’s
fleet of one hundred and fifty two (152) Aircraft firmly ordered.

 

3.2       The Seller will provide to the Buyer [*] in total for the Buyer’s
fleet of one hundred and fifty two (152) Aircraft firmly ordered.

 

4          TRAINEE DAYS ACCOUNTING

 

Trainee days are counted as follows:

 

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

 

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

 

4.3       For structure maintenance training courses outside the Seller’s
Training Center(s), one (1) day of instruction by one (1) Seller Instructor
equals the

 

 

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

 

Page 7/13

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actual number of trainees attending the course or the minimum number of trainees
as indicated in the Seller’s Customer Services Catalog.

 

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

 

UNQUOTE

 

7.        INCONSISTENCY AND CONFIDENTIALITY

 

7.1      In the event of any inconsistency between the terms and conditions of
the Agreement and those of this Amendment N° 17, the latter shall prevail to the
extent of such inconsistency, whereas the part of the Agreement not concerned by
such inconsistency shall remain in full force and effect.

 

7.2      This Amendment N° 17 reflects the understandings, commitments,
agreements, representations and negotiations related to the matters set forth
herein whatsoever, oral and written, and may not be varied except by an
instrument in writing of even date herewith or subsequent hereto executed by the
duly authorised representatives of both Parties.

 

7.3      This Amendment N° 17 shall be treated by both Parties as confidential
and shall not be released in whole or in part to any third party without the
prior consent of the other Party except as may be required by law, or to
professional advisors for the implementation hereof.

 

8.        COUNTERPARTS

 

This Amendment N° 17 may be executed by the Parties in separate counterparts,
each of which when so executed and delivered shall be an original, but all such
counterparts shall together constitute one and the same instrument.

 

9.        LAW AND JURISDICTION

 

This Amendment N° 17 will be governed by and construed and the performance
thereof will be determined in accordance with the laws of the State of New York,
without giving effect to its conflicts of laws provisions that would result in
the application of the law of any other jurisdiction.

 

The provisions of Clause 22.6 of the Agreement shall apply to this Amendment
N° 17 as if the same were set out in full herein, mutatis mutandis.

 

 

 

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

 

Page 8/13

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IN WITNESS WHEREOF this Amendment N° 17 was entered into the day and year first
above written.

 

 

For and on behalf of

For and on behalf of

 

 

 

 

AIR LEASE CORPORATION

AIRBUS S.A.S.

 

 

 

 

/s/ John L. Plueger 

/s/ John J. Leahy

 

 

By:  John L. Plueger

By: John J. Leahy

 

 

Its:  CEO

Its: Chief Operating Officer, Customers

 

Page 9/13

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APPENDIX 1

 

 

 

 

 

 

 

 

CAC ID

Aircraft Rank

Scheduled
Delivery Month

Aircraft Type

A321-200N
/ A321-
200NX
Standard
Specification

Engine Type

 

 

 

 

 

 

 

[*]

[*]

[*]

2016

[*]

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CAC ID

Aircraft Rank

Scheduled
Delivery Month

Aircraft Type

A321-200N
/ A321-
200NX
Standard
Specification

Engine Type

[*]

[*]

[*]

[*]

[*]

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CAC ID

Aircraft Rank

Scheduled
Delivery Month

Aircraft Type

A321-200N
/ A321-
200NX
Standard
Specification

Engine Type

[*]

[*]

[*]

[*]

[*]

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Page 12/13

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CAC ID

Aircraft Rank

Scheduled
Delivery Month

Aircraft Type

A321-200N
/ A321-
200NX
Standard
Specification

Engine Type

[*]

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2023

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[*]

 

 

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

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

 

 

Page 13/13

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

 

LETTER AGREEMENT N° 1

 

AIR LEASE CORPORATION

2000 Avenue of the Stars, Suite 1000N

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

June 19, 2017

 

 

 

 

Subject : [*]

 

 

 

 

AIR LEASE CORPORATION (the “Buyer") and AIRBUS S.A.S. (the “Seller") have
entered into an Amendment N° 17 dated even date herewith (the “Amendment”) to
the A320 NEO Family Purchase Agreement dated as of May 10, 2012 (the
“Agreement”), which covers, among other things, the sale by the Seller and the
purchase by the Buyer of certain Amendment 17 NEO Aircraft pursuant to the
Agreement. The Buyer and the Seller have agreed to set forth in this Letter
Agreement N° 1 to the Amendment (the “Letter Agreement”) certain additional
terms and conditions regarding the purchase and sale of the Amendment 17 NEO
Aircraft.

 

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

 

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

 

 

 

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

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

Page 1/3

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

 

LETTER AGREEMENT N° 1

 

1           [*]

 

2          [*]

 

3.         ASSIGNMENT

 

The provisions of Clause 21 of the Agreement shall apply to this Letter
Agreement as if the same were set out in full herein, mutatis mutandis.

 

4.         LAW AND JURISDICTION

 

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

 

The provisions of Clause 22.6 of the A320 NEO Agreement shall apply to this
Letter Agreement.

 

 

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

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

Page 2/3

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

 

LETTER AGREEMENT N° 1

 

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

 

 

 

 

 

 

For and on behalf of

For and on behalf of

 

 

 

 

 

 

 

 

AIR LEASE CORPORATION

AIRBUS S.A.S.

 

 

 

 

 

 

/s/ John L. Plueger

/s/ John J. Leahy

 

 

 

 

By:

John L. Plueger

By:

John J. Leahy

 

 

Its:

CEO

Its:

Chief Operating Officer, Customers

 

 

 

Page 3/3

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

 

LETTER AGREEMENT N° 2

 

 

AIR LEASE CORPORATION

2000 Avenue of the Stars, Suite 1000N

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

June 19, 2017

 

 

 

Subject : TECHNICAL MATTERS

 

 

 

AIR LEASE CORPORATION (the “Buyer") and AIRBUS S.A.S. (the “Seller") have
entered into an Amendment N° 17 dated even date herewith (the “Amendment”) to
the A320 NEO Family Purchase Agreement dated as of May 10, 2012 (the
“Agreement”), which covers, among other things, the sale by the Seller and the
purchase by the Buyer of certain Amendment 17 NEO Aircraft pursuant to the
Agreement. The Buyer and the Seller have agreed to set forth in this Letter
Agreement N° 2 to the Amendment (the “Letter Agreement”) certain additional
terms and conditions regarding the purchase and sale of the Amendment 17 NEO
Aircraft.

 

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

 

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

 

Page 1/3

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

 

LETTER AGREEMENT N° 2

 

1          [*]

 

2.         ASSIGNMENT

 

The provisions of Clause 21 of the Agreement shall apply to this Letter
Agreement as if the same were set out in full herein, mutatis mutandis.

 

3.         LAW AND JURISDICTION

 

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

 

The provisions of Clause 22.6 of the A320 NEO Agreement shall apply to this
Letter Agreement.

 

 

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

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

 

Page 2/3

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

 

LETTER AGREEMENT N° 2

 

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

 

 

 

 

 

 

For and on behalf of

For and on behalf of

 

 

 

 

 

 

 

 

AIR LEASE CORPORATION

AIRBUS S.A.S.

 

 

 

 

 

 

/s/ John L. Plueger

/s/ John J. Leahy

 

 

 

 

By:

John L. Plueger

By:

John J. Leahy

 

 

Its:

CEO

Its:

Chief Operating Officer, Customers

 

 

Page 3/3

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

 

LETTER AGREEMENT N° 3

 

 

AIR LEASE CORPORATION

2000 Avenue of the Stars, Suite 1000N

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

June 19, 2017

 

 

Subject  : [*]

 

 

AIR LEASE CORPORATION (the “Buyer") and AIRBUS S.A.S. (the “Seller") have
entered into an Amendment N° 17 dated even date herewith (the “Amendment”) to
the A320 NEO Family Purchase Agreement dated as of May 10, 2012 (the
“Agreement”), which covers, among other things, the sale by the Seller and the
purchase by the Buyer of certain Amendment 17 NEO Aircraft pursuant to the
Agreement. The Buyer and the Seller have agreed to set forth in this Letter
Agreement N° 3 to the Amendment (the “Letter Agreement”) certain additional
terms and conditions regarding the purchase and sale of the Amendment 17 NEO
Aircraft.

 

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

 

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

 

 

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

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

Page 1/3

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

 

LETTER AGREEMENT N° 3

 

1           [*]

 

2.         ASSIGNMENT

 

The provisions of Clause 21 of the Agreement shall apply to this Letter
Agreement as if the same were set out in full herein, mutatis mutandis.

 

4.         LAW AND JURISDICTION

 

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

 

The provisions of Clause 22.6 of the A320 NEO Agreement shall apply to this
Letter Agreement.

 

 

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

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

 

Page 2/3

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

 

LETTER AGREEMENT N° 3

 

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

 

 

 

 

 

 

For and on behalf of

For and on behalf of

 

 

 

 

 

 

 

 

AIR LEASE CORPORATION

AIRBUS S.A.S.

 

 

 

 

 

 

/s/ John L. Plueger

/s/ John L. Leahy

 

 

 

 

By:

John L. Plueger

By:

John J. Leahy

 

 

Its:

CEO

Its:

Chief Operating Officer, Customers

 

Page 3/3

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