Exhibit 10.2

 

Confidential Treatment
Requested Pursuant to Rule 24b-2

 

Supplemental Agreement No. 11

 

to

 

Purchase Agreement No. PA-03659

 

between

 

The Boeing Company

 

and

 

Air Lease Corporation

 

This Supplemental Agreement is entered into as of August 24, 2018, (Supplemental
Agreement No. 11) by and between THE BOEING COMPANY (Boeing) and AIR LEASE
CORPORATION (Customer);

 

All terms used but not defined in this Supplemental Agreement No. 11 have the
same meaning as in the Purchase Agreement;

 

WHEREAS, Boeing and Customer have entered into Purchase Agreement No. PA-03659
dated as of October 31, 2011 (the Purchase Agreement) relating to the purchase
and sale of Model 787-9 aircraft and Model 787-10 aircraft;

 

WHEREAS, Boeing and Customer agree to [*].

 

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

 

1.        TABLE OF CONTENTS.

 

The Table of Contents of the Purchase Agreement is deleted in its entirety and
replaced by a new Table of Contents, provided as Enclosure 1 to this
Supplemental Agreement No. 11 which reflects the revisions set forth in this
Supplemental Agreement No. 11.

 

 

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

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

 

HAZ-PA-03659

 

SA-11

i

BOEING PROPRIETARY

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

 

2.        TABLE 1.

 

a.   Table 1E to Purchase Agreement No. PA-03659, 787-9 Block D Aircraft
Delivery, Description, Price and Advance Payments Rolls Royce Engines is deleted
in its entirety and replaced by a revised Table 1E to Purchase Agreement No.
PA-03659, 787-9 Block D Aircraft Delivery, Description, Price and Advance
Payments Rolls Royce Engines provided as Enclosure 2 to this Supplemental
Agreement No. 11 to reflect [*].

 

b.   Table 1E to Purchase Agreement No. PA-03659, 787-9 Block D Aircraft
Delivery, Description, Price and Advance Payments General Electric Engines is
deleted in its entirety and replaced by a revised Table 1E to Purchase Agreement
No. PA-03659, 787-9 Block D Aircraft Delivery, Description, Price and Advance
Payments General Electric Engines provided as Enclosure 3 to this Supplemental
Agreement No. 11 to reflect [*].

 

3.        SUPPLEMENTAL EXHIBITS.

 

a.   Exhibit A4, HAZ/[*] 787-9 Aircraft Configuration, provided as Enclosure 4
to this Supplemental Agreement No. 11 is hereby incorporated into the Purchase
Agreement to identify [*].

 

4.        LETTER AGREEMENTS.

 

a.   Letter Agreement LA-1104720R6, Advance Payment Matters, is deleted in its
entirety and replaced by a revised Letter Agreement LA-1104720R7, Advance
Payment Matters, provided as Enclosure 5 to this Supplemental Agreement No. 11,
which reflects an agreement that [*].

 

b.   Letter Agreement LA-1301080R4, Special Matters - 787-9 Blocks B, C, D and E
Aircraft, is deleted in its entirety and replaced by a revised Letter Agreement
LA-1301080R5, Special Matters - 787-9 Blocks B, C, D and E Aircraft, provided as
Enclosure 6 to this Supplemental Agreement No. 11, [*].

 

5.        MISCELLANEOUS.

 

a.  The Purchase Agreement is amended as set forth above, and all other terms
and conditions of the Purchase Agreement remain unchanged and are in full force
and effect.  Any Tables of Contents, Tables, Supplemental Exhibits, Letter
Agreements or other documents that are listed in the Sections above are
incorporated into this Supplemental Agreement by this reference.

 

b.  This Supplemental Agreement will become effective upon execution and receipt
by both Parties on or before August 24, 2018, after which date this Supplemental
Agreement will be null and void and have no force or effect.

 

 

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

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

 

HAZ-PA-03659

 

SA-11

ii

BOEING PROPRIETARY

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

 

EXECUTED IN DUPLICATE as of the day and year first above written.

 

 

THE BOEING COMPANY

    

AIR LEASE CORPORATION

 

 

 

 

 

 

BY:

/s/ Michael Lombardi

 

BY: 

/s/ Grant Levy

 

 

 

ITS:

Attorney-In-Fact

 

ITS: 

Executive Vice President

 

 

 

 

HAZ-PA-03659

 

SA-11

iii

BOEING PROPRIETARY

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

 

Enclosure 1

 

PURCHASE AGREEMENT NUMBER PA-03659

 

between

 

THE BOEING COMPANY

 

and

 

Air Lease Corporation

 

Relating to Boeing Model 787-9 and 787-10 Aircraft

 

 

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

 

Enclosure 1

 

TABLE OF CONTENTS

 

 

 

 

ARTICLES

Article 1.

Quantity, Model, Description and Inspection

SA-2

Article 2.

Delivery Schedule

SA-2

Article 3.

Price

SA-2

Article 4.

Payment

SA-2

Article 5.

Additional Terms

SA-2

 

 

 

 

 

 

 

 

 

TABLE

1A.

787-9 Block A Aircraft Information Table

SA-8

1B.

787-9 Block B Aircraft Information Table

SA-7

1C.

787-10 Block A Aircraft Information Table

SA-10

1D.

787-9 Block C Aircraft Information Table

SA-6

1E.

787-9 Block D Aircraft Information Table

SA-11

1F.

787-9 Block E Aircraft Information Table

SA-10

 

 

 

 

 

 

 

 

 

EXHIBIT

A1.

HAZ[*] 787-9 Aircraft Configuration

SA-7

A2.

HAZ[*] 787-9 Aircraft Configuration

SA-7

A3.

HAZ[*] 787-9 Aircraft Configuration

SA-8

A4.

HAZ[*] 787-9 Aircraft Configuration

SA-11

B.

Aircraft Delivery Requirements and Responsibilities

SA-2

 

 

 

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL EXHIBITS

AE1.

Escalation Adjustment Airframe and Optional Features

SA-2

BFE1.

BFE Variables

SA-7

CS1.

Customer Support Document

SA-10

EE1.

[*],  Engine Warranty and Patent Indemnity – General Electric Engines

SA-2

EE1.

[*], Engine Warranty and Patent Indemnity – Rolls Royce Engines

SA-2

SLP1.

Service Life Policy Components

SA-2

 

 

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

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

 

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

 

Enclosure 1

 

LETTER AGREEMENTS

LA-1104716R1

[*]

SA-2

LA-1104717R1

Demonstration Flight Waiver

SA-2

LA-1104718R1

[*]

SA-2

LA-1104719R1

Other Matters

SA-2

LA-1104720R7

Advance Payment Matters

SA-11

LA-1104721R1

[*]

SA-2

LA-1104722R1

Assignment of Customer’s Interest to a Subsidiary or Affiliate

SA-2

LA-1104724

e-Enabling Software Matters

 

LA-1104725R1

[*]

SA-2

LA-1104726R1

Special Matters relating to COTS Software and End User License Agreements

SA-2

LA-1104727R2

AGTA Matters

SA-2

LA-1104728R1

Leasing Matters for 787 Aircraft

SA-2

LA-1104729R1

Liquidated Damages – Non-Excusable Delay

SA-2

LA-1104730R5

Open Configuration Matters

SA-10

LA-1104731R1

Performance Guarantees – 787-9 Block A Aircraft

SA-2

LA-1104733R1

Special Terms - Seats and In-flight Entertainment

SA-2

LA-1104734R2

Special Matters – 787-9 Block A Aircraft

SA-6

LA-1300863

Performance Guarantees – 787-10 Block A Aircraft

SA-2

LA-1300864R3

Performance Guarantees – 787-9 Block B, C and D Aircraft

SA-10

LA-1301080R5

Special Matters – 787-9 Blocks B, C, D, and E Aircraft

SA-11

LA-1301081R1

Special Matters – 787-10 Block A Aircraft

SA-10

LA-1301082R2

[*]

SA-7

 

Promotional Support – 787-10 Aircraft

SA-2

LA-1301083

[*]

SA-2

LA-1301084

[*]

SA-10

LA-1302043R1

[*]

SA-2

LA-1302348R1

 

 

 

 

 

LA-1601083

Special Matters Relating to In-Seat IFE [*]

SA-7

 

 

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

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

 

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

 

Enclosure 1

 

 

 

 

LA-1605597

[*] 

SA-9

LA-1805142

[*]

SA-10

LA-1805362

Model 787 Post‑Delivery Software and Data Loading

SA-10

 

 

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

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

 

 

 

 

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

 

Enclosure 2

 

Table 1E To

Purchase Agreement No. PA-03659

787-9 Block D Aircraft Delivery, Description, Price and Advance Payments

Rolls Royce Engines

 

Airframe Model/MTOW:

787-9

 

553,000 pounds

 

Detail Specification:

 

787B1-4102-S (12/11/2015)

 

Engine Model/Thrust:

TRENT1000-J

 

74,400 pounds

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Airframe Base Year/ Esc. Formula:

 

[*]

 

 

Engine Base Year/ Esc. Formula:

 

[*]

 

 

 

 

Airframe Escalation Data:

[*]

 

 

 

Engine Escalation Data:

[*]

 

 

 

 

 

Base Year Index (ECI):

 

 

[*]

 

 

Base Year Index (ECI):

 

[*]

 

 

 

 

Base Year Index (CPI):

 

 

[*]

 

 

Base Year Index (CPI):

 

[*]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposit per Aircraft:

 

[*] 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number

Mfr's

 

Airframe

Airframe

P.A.

Optional

Engine

Engine

Engine

SPE/

Airframe

Engine

Estimated

Delivery

of

Serial

Lessee

Base

Base

Exh

Features

Selection

Base

Base

IFE

Escalation

Escalation

Adv Pymt Base

Date

Aircraft

Number

 

Year

Price

A

Price

 

Year(1)

Price(1)

Estimate

Factor

Factor

Price Per A/P

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]-2019

1

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

Total:

[*]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[*]

Note: Serial Numbers are provided as guidance only and are subject to change.

 

[*]

 

 

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

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

 

 

 

87954-1F.TXT

 

SA-11

Page 1

Boeing Proprietary

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

 

Enclosure 3

 

Table 1E To

Purchase Agreement No. PA-03659

787-9 Block D Aircraft Delivery, Description, Price and Advance Payments

General Electric Engines

 

Airframe Model/MTOW:

787-9

 

553,000 pounds

 

Detail Specification:

787B1-4102-S (12/11/2015)

 

 

 

 

Engine Model/Thrust:

GENX‑1B74/75

 

74,100 pounds

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Airframe Base Year/ Esc. Formula:

 

[*]

 

 

Engine Base Year/ Esc. Formula:

 

[*]

 

 

 

 

Airframe Escalation Data:

[*]

 

 

 

Engine Escalation Data:

[*]

 

 

 

 

 

Base Year Index (ECI):

 

[*]

 

 

Base Year Index (ECI):

 

[*]

 

 

 

 

Base Year Index (CPI):

 

[*]

 

 

Base Year Index (CPI):

 

[*]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposit per Aircraft:

[*]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number

Mfr's

 

Airframe

Airframe

P.A.

Optional

Engine

Engine

Engine

SPE/

Airframe

Engine

Estimated

Delivery

of

Serial

Lessee

Base

Base

Exh

Features

Selection

Base

Base

IFE

Escalation

Escalation

Adv Pymt Base

Date

Aircraft

Number

 

Year

Price

A

Price

 

Year(1)

Price(1)

Estimate

Factor

Factor

Price Per A/P

[*]-2019

1

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]-2020

1

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

Total:

[*]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[*]

 

Note: Serial Numbers are provided as guidance only and are subject to change.

 

 

 

 

 

 

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

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

 

 

 

87954-1F.TXT

 

SA-11

Page 1

Boeing Proprietary

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

 

Enclosure 4

 

HAZ[*] 787-9 AIRCRAFT CONFIGURATION

 

between

 

THE BOEING COMPANY

 

and

 

Air Lease Corporation

 

Exhibit A4

 

to Purchase Agreement Number PA-03659

 

 

 

 

 

 

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

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

 

HAZ-PA-03659-EXA4

 

Page 1

SA-11

BOEING PROPRIETARY

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

 

Enclosure 4

 

 

Exhibit A4

 

AIRCRAFT CONFIGURATION

 

Dated August 24, 2018

 

relating to

 

BOEING MODEL 787-9 AIRCRAFT

 

The Detail Specification is [*]. The Detail Specification provides further
description of the configuration set forth in this Exhibit A4. Such Detail
Specification will be comprised of Boeing configuration specification [*]. As
soon as practicable, Boeing will furnish to Customer copies of the Detail
Specification, which copies will reflect [*].  [*].

 

 

 

 

 

 

 

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

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

 

 

 

HAZ-PA-03659-EXA4

 

Page 2

SA-11

BOEING PROPRIETARY

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

 

BOEING PROPRIETARY

 

Exhibit A4 To

Boeing Purchase Agreement

 

 

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

P.A. 3659 - Exhibit A4

 

Page 1

SA-11

BOEING PROPRIETARY

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

 

BOEING PROPRIETARY

Exhibit A4 To

Boeing Purchase Agreement

 

 

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

P.A. 3659 - Exhibit A4

 

Page 2

SA-11

BOEING PROPRIETARY

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

 

BOEING PROPRIETARY

Exhibit A4 To

Boeing Purchase Agreement

 

 

[*]

 

 

[*]

 

 

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

[*]

 

 

 

 

[*]

[*]

 

 

 

[*]

 

 

 

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

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

 

 

 

 

P.A. 3659 - Exhibit A4

 

Page 3

SA-11

BOEING PROPRIETARY

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

 

Enclosure 5

Picture 1 [al20180930ex10283eddf001.jpg]

 

The Boeing Company
P.O. Box 3707
Seattle, WA  98124‑2207

 

 

 

HAZ-PA-03659-LA-1104720R7

 

Air Lease Corporation

2000 Avenue of the Stars, Suite 1000N

Los Angeles, CA 90067

 

Subject:         Advance Payment Matters

 

Reference:    Purchase Agreement No. PA-03659 (Purchase Agreement) between The
Boeing Company (Boeing) and Air Lease Corporation (Customer) relating to
Model 787-9 and 787-10 aircraft (collectively, the Aircraft)

 

This letter agreement (Letter Agreement) cancels and supersedes letter agreement
HAZ‑PA‑03659-LA-1104720R6 and amends and supplements the Purchase
Agreement.  All terms used but not defined in this Letter Agreement shall have
the same meaning as in the Purchase Agreement.

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

1.        Alternative Fixed Advance Payment Schedule.

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

1.2      Alternative Fixed Advance Payment Schedule – 787-9 Block A Aircraft.

[*]

1.3      Alternative Fixed Advance Payment Schedule – 787-9 Block B Aircraft.

[*]

1.4      Alternative Fixed Advance Payment Schedule – 787-9 Block C, 787-9 Block
D Aircraft, and 787-9 Block E Aircraft. [*]

 

 

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

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

 

HAZ-PA-03659-LA-1104720R7

 

SA-11

Advance Payment Matters

 

LA  Page 1

 

BOEING PROPRIETARY

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

 

Enclosure 5

Picture 5 [al20180930ex10283eddf001.jpg]

 

 

 

1.5       Alternative Fixed Advance Payment Schedule – 787-10 Block A Aircraft
 [*]

1.6      [*]

2.        [*]

3.        [*]

4.        [*]

5.        Confidentiality.

Customer understands and agrees that the information contained herein represents
confidential business information of Boeing and has value precisely because it
is not available generally or to other parties.  Customer agrees to limit the
disclosure of its contents to (a) its directors and officers, (b)  employees of
Customer with a need to know the contents for performing its obligations
(including, without limitation, those employees performing accounting, finance,
administration and other functions necessary to finance and purchase, deliver or
lease the Aircraft) and who understand they are not to disclose its contents to
any other person or entity (other than those to whom disclosure is permitted by
this paragraph 5), without the prior written consent of Boeing and (c) any
auditors, financial advisors, attorneys and independent contractors of Customer
who have a need to know such information and have signed a confidentiality
agreement in the same form and substance similar to this paragraph 5.  Customer
shall be fully responsible to Boeing for compliance with such obligations.

6.        Assignment.

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

If the foregoing correctly sets forth your understanding of our agreement with
respect to the matters treated above, please indicate your acceptance and
approval below.

 

 

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

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

 

HAZ-PA-03659-LA-1104720R7

 

SA-11

Advance Payment Matters

 

LA  Page 2

 

BOEING PROPRIETARY

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

 

Enclosure 5

Picture 5 [al20180930ex10283eddf001.jpg]

 

 

 

Very truly yours,

 

 

 

 

 

THE BOEING COMPANY

 

 

 

 

 

By

/s/ Michael Lombardi

 

 

 

 

 

 

Its

Attorney-In-Fact

 

 

 

 

 

 

ACCEPTED AND AGREED TO this

 

 

 

 

 

Date:

August 24, 2018

 

 

 

 

 

 

AIR LEASE CORPORATION

 

 

 

 

 

By

/s/ Grant Levy

 

 

 

 

 

 

Its

Executive Vice President

 

 

 

 

 

 

 

 

HAZ-PA-03659-LA-1104720R7

 

SA-11

Advance Payment Matters

 

LA  Page 3

 

BOEING PROPRIETARY

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

 

Enclosure 6

Picture 6 [al20180930ex10283eddf001.jpg]

 

The Boeing Company
P.O. Box 3707
Seattle, WA  98124‑2207

 

 

 

HAZ-PA-03659-LA-1301080R5

 

Air Lease Corporation

2000 Avenue of the Stars, Suite 1000N

Los Angeles, California 90067

 

Subject:        Special Matters – 787-9 Blocks B, C, D, and E Aircraft

 

Reference:    Purchase Agreement No. PA-03659 (Purchase Agreement) between The
Boeing Company (Boeing) and Air Lease Corporation (Customer) relating to
Model 787-9 and 787-10 aircraft (collectively, the Aircraft)

 

This letter agreement (Letter Agreement) cancels and supersedes letter agreement
HAZ-PA-03659-LA-1301080R4 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. This Letter Agreement applies
only to [*].

1.        Credit Memoranda.

1.1       Basic Credit Memorandum.  At the time of delivery of each 787-9
Aircraft, Boeing will issue to Customer a Basic Credit Memorandum in the
following amount:

 

Applicable Aircraft

Amount (U.S. Dollars)

Base Year

787-9 Block B Aircraft

[*]

[*]

787-9 Block C Aircraft

[*]

[*]

787-9 Block D Aircraft

[*]

[*]

787-9 Block E Aircraft

[*]

[*]

 

1.2       Leasing Credit Memorandum.  Customer expressly intends to lease the
Aircraft to a third party or parties (Lessee or Lessees) who is/are in the
commercial airline business as aircraft operator(s).  As an incentive for and in
consideration of Customer entering into a lease for the 787-9 Aircraft prior to
delivery of the 787-9 Aircraft to be leased, in accordance with the requirements
set forth in the Purchase Agreement, Boeing will issue to Customer a Leasing
Credit Memorandum, which under no circumstances may be assigned, in the
following amount:

 

Applicable Aircraft

Amount (U.S. Dollars)

Base Year

787-9 Block B Aircraft

[*]

[*]

787-9 Block C Aircraft

[*]

[*]

787-9 Block D Aircraft

[*]

[*]

787-9 Block E Aircraft

[*]

[*]

 

 

 

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

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

 

HAZ-PA-03659-LA-1301080R5

 

SA-11

Special Matters – 787-9 Blocks B, C, D, and E Aircraft

 

LA  Page 1

 

BOEING PROPRIETARY

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

 

Enclosure 6

Picture 8 [al20180930ex10283eddf001.jpg]

 

 

 

1.3       [*]

1.4       [*]

1.5       [*]

1.6       [*]

1.7       [*]

1.8       [*]

1.9       [*]

1.10     [*]

1.11     [*]

1.12     [*]

1.13     [*]

1.14     [*]

1.15     [*]

1.16     [*]

1.17     [*]

2.        Escalation of Credit Memoranda.

Unless otherwise noted, the amounts of the Credit Memoranda stated in [*] and
will be escalated to the scheduled month of the respective 787-9 Block B, C, D,
and E Aircraft delivery pursuant to the Airframe Escalation formula set forth in
the Purchase Agreement applicable to the Aircraft.  The Credit Memoranda are
stated in U.S. Dollars and may, at the election of Customer, be (i) applied
against the Aircraft Price of the respective Aircraft at the time of delivery,
or (ii) used for the purchase of other Boeing goods and services (but shall not
be applied to advance payments).

3.        [*]

4.        [*]

5.        [*]

6.        [*]

7.        [*]

8.        Confidentiality.

 

 

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

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

 

HAZ-PA-03659-LA-1301080R5

 

SA-11

Special Matters – 787-9 Blocks B, C, D, and E Aircraft

 

LA  Page 2

 

BOEING PROPRIETARY

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

 

Enclosure 6

Picture 8 [al20180930ex10283eddf001.jpg]

 

 

 

Customer understands and agrees that the information contained herein represents
confidential business information of Boeing and has value precisely because it
is not available generally or to other parties.  Customer agrees to limit the
disclosure of its contents to (a) its directors and officers, (b)  employees of
Customer with a need to know the contents for performing its obligations
(including, without limitation, those employees performing accounting, finance,
administration and other functions necessary to finance and purchase, deliver or
lease the Aircraft) and who understand they are not to disclose its contents to
any other person or entity (other than those to whom disclosure is permitted by
this paragraph 8), without the prior written consent of Boeing and (c) any
auditors, financial advisors, attorneys and independent contractors of Customer
who have a need to know such information and have signed a confidentiality
agreement in the same form and substance similar to this paragraph 8.  Customer
shall be fully responsible to Boeing for compliance with such obligations.

 

Very truly yours,

 

 

 

 

 

THE BOEING COMPANY

 

 

 

 

 

By

/s/ Michael Lombardi

 

 

 

 

 

 

Its

Attorney-In-Fact

 

 

 

 

 

 

ACCEPTED AND AGREED TO this

 

 

 

 

 

Date:

August 24, 2018

 

 

 

 

 

 

AIR LEASE CORPORATION

 

 

 

 

 

 

 

 

 

By

/s/ Grant Levy

 

 

 

 

 

 

Its

Executive Vice President

 

 

 

HAZ-PA-03659-LA-1301080R5

 

SA-11

Special Matters – 787-9 Blocks B, C, D, and E Aircraft

 

LA  Page 3

 

BOEING PROPRIETARY

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