Exhibit 10.4

 

 

Description of Future Compensation Arrangement between Air Lease Corporation

and Steven F. Udvar-Hazy, Executive Chairman of the Board of Directors

 

Air Lease Corporation (“Company”) has entered into compensation arrangements
with Mr. Steven F. Udvar-Hazy in connection with his appointment to the position
of Executive Chairman of the Board of Directors of the Company, effective July
1, 2016.  The following compensation arrangement provides for payments to be
made in the future.

 

Beginning in 2017, Mr. Udvar-Hazy’s target bonus opportunity percentage under
the Company’s performance-based annual cash incentive plan will be increased
from 100% to 120% of base salary, subject to achieving Company performance
objectives to be determined by the Compensation Committee of the Board of
Directors and he will no longer be eligible to participate in the Company’s
Amended and Restated Deferred Bonus Plan.

 

 

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