Document

EXHIBIT 10.5




CERTAIN IDENTIFIED INFORMATION MARKED BY [*] HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE OF INFORMATION THAT THE REGISTRANT BOTH CUSTOMARILY AND ACTUALLY TREATS AS PRIVATE AND CONFIDENTIAL.








AMENDMENT N° 18






TO THE






A350 FAMILY PURCHASE AGREEMENT






BETWEEN






AIRBUS S.A.S.


as Seller






and






AIR LEASE CORPORATION


As Buyer


























    


									
	Amendment No18 to the ALC A350 Family PA		
	Ref. CLC – CT2109796
		Page 1/6









AMENDMENT N° 18 TO THE
A350 FAMILY PURCHASE AGREEMENT






This amendment N°18 (the “Amendment N°18”) dated 11 January 2022 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 [*]. 


									
	Amendment No18 to the ALC A350 Family PA		
	Ref. CLC – CT2109796
		Page 2/6









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 [*].


S.On 31 August 2020, the Buyer and the Seller entered into an Amendment N°15 in order to [*].


T.On 29 October 2021, the Buyer and the Seller entered into an Amendment N°16 in order to [*].


U.On 20 December 2021, the Buyer and the Seller entered into an Amendment N°17 in order to (i) provide the terms by which the Seller shall manufacture and sell and the Buyer shall purchase seven (7) A350 Freighter aircraft, (ii) [*], and (iii) [*].


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


V.The Parties now wish to enter into this Amendment N°18 in order to, among other things, [*].


The terms “herein”, “hereof” and “hereunder” and words of similar import refer to this Amendment N°18. 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 No18 to the ALC A350 Family PA		
	Ref. CLC – CT2109796
		Page 3/6









1[*]


2DELIVERY SCHEDULE


By virtue of the changes contemplated in clause 1.2 above, the table in Clause 9.1 of the Agreement, as amended from time to time, is hereby deleted in its entirety and replaced by the table set forth in Appendix 1 hereto.




3[*]


4INCONSISTENCY AND CONFIDENTIALITY


4.1In the event of any inconsistency between the terms and conditions of the Agreement and those of this Amendment N°18, 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.


4.2This Amendment N°18 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.


4.3This Amendment N°18 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.




5COUNTERPARTS


This Amendment N°18 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.




6LAW AND JURISDICTION


This Amendment N°18 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°18 as if the same were set out in full herein, mutatis mutandis.


									
	Amendment No18 to the ALC A350 Family PA		
	Ref. CLC – CT2109796
		Page 4/6









IN WITNESS WHEREOF this Amendment N°18 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/ Grant Levy
		/s/ Benoît de Saint-Exupéry

			
	By: Grant Levy
		By: Benoît de Saint Exupéry

			
	Its: Executive Vice President
		Its: Senior Vice President, Contracts































									
	Amendment No18 to the ALC A350 Family PA		
	Ref. CLC – CT2109796
		Page 5/6










APPENDIX 1 
Delivery Schedule


												
	CAC ID	Aircraft Rank	Scheduled Delivery Month /
Scheduled Delivery Period	Aircraft Type
	[*]	[*]	[*]-17
	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]

	[*]	[*]	[*]	[*]







									
	Amendment No18 to the ALC A350 Family PA		
	Ref. CLC – CT2109796
		Page 6/6