EXHIBIT 10.1

CERTAIN IDENTIFIED INFORMATION MARKED BY [*] HAS BEEN EXCLUDED FROM THIS

EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE

COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED

AMENDMENT N° 15

TO THE

A350 FAMILY PURCHASE AGREEMENT

BETWEEN

AIRBUS S.A.S.

as Seller

and

AIR LEASE CORPORATION

As Buyer

Amendment Nº15 to the ALC A350 Family PA

Ref. CLC - CT2001909

Page 1/6

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AMENDMENT N° 15 TO THE

A350 FAMILY PURCHASE AGREEMENT

This amendment N°15 (the “Amendment N°15”) dated 31st August 2020 is made

BETWEEN:

AIRBUS S.A.S., a société par actions simplifiée, created and existing under
French law having its registered office at 2, rond-point Emile Dewoitine, 31700
Blagnac, France (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” and individually
as a “Party”.

WHEREAS:

A.

The Buyer and the Seller have signed a purchase agreement with reference
CLC-CT1103521 on 01 February 2013 for the manufacture and sale by the Seller and
purchase by the Buyer of twenty-five (25) firm A350 Family aircraft hereinafter
together with its Exhibits and Letter Agreements referred to as the “Purchase
Agreement”.

B.

On 03 March 2015, the Buyer and the Seller entered into an Amendment N°1 to the
Purchase Agreement to modify the terms and conditions with respect to certain
A350XWB Family Aircraft.

C.

On 03 March 2015, the Buyer and the Seller entered into an Amendment N°2 to the
Purchase Agreement in order to, among other things, provide for the manufacture
and sale by the Seller and purchase by the Buyer of one (1) incremental A350-900
Aircraft.

D.

On 08 September 2015, the Buyer and the Seller entered into an Amendment N°3 to
the Purchase Agreement for (i) the manufacture and sale by the Seller and
purchase by the Buyer of two (2) incremental A350-900 Aircraft and (ii) [*].

E.

On 14 April 2016, the Buyer and the Seller entered into an Amendment N°4 to the
Purchase Agreement in order to (i) provide the terms by which the Seller shall
manufacture and sell and the Buyer shall purchase one (1) incremental A350-900
Aircraft, and (ii) [*].

F.

On 25 May 2016, the Buyer and the Seller entered into an Amendment N°5 to the
Purchase Agreement in order to [*].

G.

On 18 July 2016, the Buyer and the Seller entered into an Amendment N°6 to the
Purchase Agreement in order to, among other things, (i) address specifications
issues for both A350-900 Aircraft and A350-1000 Aircraft, (ii) [*] and (iii)
[*].

H.

On 31 July 2017, the Buyer and the Seller entered into an Amendment N°7 to the
Purchase Agreement in order to [*].

I.

On 27 December 2017, the Buyer and the Seller entered into an Amendment N°8 to
the Purchase Agreement in order to (i) [*].

Amendment Nº15 to the ALC A350 Family PA

Ref. CLC - CT2001909

Page 2/6

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J.

On 01 June 2018, the Buyer and the Seller entered into an Amendment N°9 to the
Purchase Agreement in order to [*].

K.

On 31 December 2018, the Buyer and the Seller agreed to [*].

L.

[*], the Buyer and the Seller have entered into an amendment N° 5 to the A330
Agreement dated as of 31 December 2018 to provide for [*].

M.

On 31 December 2018, the Buyer and the Seller entered into an Amendment N°10 to
the Purchase Agreement in order to, among other things, (i) provide the terms
under which the Seller shall manufacture and sell and the Buyer shall purchase
three (3) incremental A350-900 aircraft and one (1) A350-1000 aircraft and (ii)
[*].

N.

On 26 April 2019, the Buyer and the Seller entered into an Amendment and
Restatement Agreement of Letter Agreement N°1 to Amendment N°10 in order to
cancel and replace Clause 4 of the Original Letter Agreement.

O.

On 15 May 2019, the Buyer and the Seller entered into an Amendment N°11 in order
to [*].

P.

On 20 December 2019, the Buyer and the Seller entered into an Amendment N°12 in
order to (i) provide the terms under which the Seller shall manufacture and sell
and the Buyer shall purchase one (1) incremental A350-900 aircraft, [*].

Q.

On 21 February 2020, the Buyer and the Seller entered into an Amendment N°13 in
order to [*].

R.

On 30 June 2020, the Buyer and the Seller entered into an Amendment N°14 in
order to [*].

The Purchase Agreement as amended and supplemented pursuant to the foregoing
being referred to as the “Agreement”.

S.

The Parties now wish to enter into this Amendment N°15 in order to, [*],
pursuant to the terms and conditions set out herein.

The terms “herein”, “hereof” and “hereunder” and words of similar import refer
to this Amendment N°15. Capitalized terms used herein and not otherwise defined
herein shall have the meanings assigned thereto in the Agreement.

NOW IT IS HEREBY AGREED AS FOLLOWS:

Amendment Nº15 to the ALC A350 Family PA

Ref. CLC - CT2001909

Page 3/6

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1.[*]

2[*]

3     [*]

4

INCONSISTENCY AND CONFIDENTIALITY

4.1

In the event of any inconsistency between the terms and conditions of the
Agreement and those of this Amendment N°15, 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.

4.2

This Amendment N°15 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.

4.3

This Amendment N°15 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.

5

COUNTERPARTS

This Amendment N°15 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.

6

LAW AND JURISDICTION

This Amendment N°15 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 other provisions of Clause 22.6 of the Purchase Agreement shall apply to
this Amendment N°15 as if the same were set out in full herein, mutatis
mutandis.

Amendment Nº15 to the ALC A350 Family PA

Ref. CLC - CT2001909

Page 4/6

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IN WITNESS WHEREOF this Amendment N°15 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.

By: /s/ Grant Levy

By: /s/ Benoît de Saint-Exupéry

Its: Executive Vice President

Its: Senior Vice President, Contracts

Amendment Nº15 to the ALC A350 Family PA

Ref. CLC - CT2001909

Page 5/6

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APPENDIX 1

APPENDIX 1

Delivery Schedule

CAC ID

Aircraft
Rank

Scheduled
Delivery
Month

Aircraft
Type

[*]

[*]

[*]-17

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]-25

[*]

Amendment Nº15 to the ALC A350 Family PA

Ref. CLC - CT2001909

Page 6/6

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LETTER AGREEMENT N° 1

AIR LEASE CORPORATION

2000 Avenue of the Stars, Suite 1000N

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

August 31st, 2020

Subject  : SPECIFIC TERMS

AIR LEASE CORPORATION (the “Buyer") and AIRBUS S.A.S. (the “Seller") have
entered into an Amendment N°15 dated even date herewith (the “Amendment”) to the
A350 Purchase Agreement dated as of February 1, 2013 (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 A350 Aircraft as described in the Agreement.

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.

Amendment Nº15 to the ALC A350 Purchase Agreement – Letter Agreement N°1

Ref. CLC - CT2001909

Page 1/3

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LETTER AGREEMENT N° 1

1SPECIFIC TERMS

[*]

2ASSIGNMENT

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 other provisions of Clause 22.6 of the Purchase Agreement shall apply to
this Letter Agreement as if the same were set out in full herein, mutatis
mutandis.

Amendment Nº15 to the ALC A350 Purchase Agreement – Letter Agreement N°1

Ref. CLC - CT2001909

Page 2/3

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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.

By: /s/ Grant Levy

By: /s/ Benoît de Saint-Exupéry

Its: Executive Vice President

Its: Senior Vice President, Contracts

Amendment Nº15 to the ALC A350 Purchase Agreement – Letter Agreement N°1

Ref. CLC - CT2001909

Page 3/3

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LETTER AGREEMENT N° 2

AIR LEASE CORPORATION

2000 Avenue of the Stars, Suite 1000N

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

August 31st, 2020

Subject : SPECIFIC PROVISIONS

AIR LEASE CORPORATION (the “Buyer") and AIRBUS S.A.S. (the “Seller") have
entered into an Amendment N°15 dated even date herewith (the “Amendment”) to the
A350 Purchase Agreement dated as of February 1, 2013 (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 A350 Aircraft as described in the Agreement.

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.

Amendment Nº15 to the ALC A350 Family PA – Letter Agreement N°2

Ref. CLC - CT2001909

Page 1/3

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LETTER AGREEMENT N° 2

1 [*]

2ASSIGNMENT

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 other provisions of Clause 22.6 of the Purchase Agreement shall apply to
this Letter Agreement as if the same were set out in full herein, mutatis
mutandis.

Amendment Nº15 to the ALC A350 Family PA – Letter Agreement N°2

Ref. CLC - CT2001909

Page 2/3

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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.

By: /s/ Grant Levy

By: /s/ Benoît de Saint-Exupéry

Its: Executive Vice President

Its: Senior Vice President, Contracts

Amendment Nº15 to the ALC A350 Family PA – Letter Agreement N°2

Ref. CLC - CT2001909

Page 3/3

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