Document:

EX-10.1

 Exhibit 10.1 

Execution Copy 

COOPERATION AGREEMENT 

This Cooperation Agreement (this “Agreement”) is made and entered into as of July 17, 2016, by and among CSW Industrials,
Inc. (the “Company”) and the entities and natural persons listed on Exhibit A hereto (collectively, “Newtyn”) (each of the Company and Newtyn, a “Party” to this Agreement, and collectively,
the “Parties”). 
 RECITALS 

WHEREAS, the Company and Newtyn have engaged in discussions and communications concerning the Company’s business, financial performance
and strategic plans; 
 WHEREAS, Newtyn is deemed to beneficially own shares of common stock of the Company (the “Common
Stock”) totaling, in the aggregate,1,285,609 shares, or approximately 8.2% percent, of the Common Stock of the Company issued and outstanding on the date hereof; 

WHEREAS, Newtyn submitted a nomination letter to the Company on May 10, 2016 (the “Nomination Letter”) nominating
Yevgeny Neginsky as a director candidate to be elected to the Company’s board of directors (the “Board”) at the 2016 annual meeting of stockholders of the Company (the “2016 Annual Meeting”); and 

WHEREAS, the Company and Newtyn have determined to come to an agreement with respect to the election of a member of the Board at the 2016
Annual Meeting, certain matters related to the 2016 Annual Meeting, and the 2017 annual meeting of stockholders of the Company (the “2017 Annual Meeting”) and any other special meeting of stockholders of the Company that may occur
prior to the date of the 2017 Annual Meeting (any such meetings together with the 2016 Annual Meeting and the 2017 Annual Meeting are referred to in this Agreement as the “Stockholder Meetings”) and certain other matters, all as
provided in this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants and agreements contained
in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties hereto, intending to be legally bound hereby, agree as follows: 

1. Board Matters; Stockholder Meetings. 

(a) Upon the execution of this Agreement, Newtyn hereby irrevocably withdraws its Nomination Letter and Newtyn will not (i) nominate any
person for election at the 2016 Annual Meeting, the 2017 Annual Meeting or any other Stockholder Meeting, (ii) submit any proposal for consideration at, or bring any other business before, the 2016 Annual Meeting, the 2017 Annual Meeting or any
other Stockholder Meeting, directly or indirectly, or (iii) initiate, encourage or participate in any “withhold” or similar campaign with respect to the 2016 Annual Meeting, the 2017 Annual Meeting or any other Stockholder Meeting,
directly or indirectly, and not permit any of its Affiliates or Associates to do any of the items in this Section 1(a). Newtyn will not publicly or privately encourage or support any other stockholder to take any of the actions described in
this Section 1(a). 

 (b) At the 2016 Annual Meeting and at the 2017 Annual Meeting, Newtyn will appear in person or by
proxy and vote all shares of Common Stock beneficially owned by it (i) in favor of the election of the Company’s nominees for election to the Board and (ii) in accordance with the Board’s recommendation with respect to the Company’s
“say-on-pay” proposal. 
 (c) As previously announced on July 6, 2016, the Company intends to commence a search for two additional
independent directors. In connection with that search process, the Company agrees with respect to one of the proposed new directors to consult with Newtyn Management LLC (“NMLLC”), and NMLLC will be permitted to (i) participate in
the development of the position profile and desired attributes of the director candidate; (ii) recommend suitable candidates for consideration by the executive search firm and the Nominating and Corporate Governance Committee of the Board (the
“Nominating Committee”); (iii) review resumes of the final three candidates that the Nominating Committee has identified; (iv) provide input and recommendations to the Nominating Committee regarding the candidates; and (v) by
written notice to the Nominating Committee, exclude from further consideration one of such director candidates as to whom NMLLC reasonably objects. The Nominating Committee will consider any reasonable objections identified by NMLLC with respect to
any other candidates for the one position. Subject to clause (v) above, the Parties agree that the final decision regarding the appointment of any individual to the Board will be at the sole discretion of the Board. 

(d) Within 60 days of the date of this Agreement, the Board will consider in good faith the adoption of a share repurchase program. In
connection with that process, the Board will prepare, with the assistance of its financial advisor, an analysis of intrinsic value of the Company’s common stock. The input of NMLLC will be considered by the Board in the preparation of that
analysis. The Parties agree that the final decision as to whether to establish the program and the repurchase limits thereunder will be in the sole discretion of the Board consistent with its fiduciary duties. 

(e) Newtyn agrees that it will cause its Affiliates and Associates to comply with the terms of this Agreement. As used in this Agreement, the
terms “Affiliate” and “Associate” have the respective meanings set forth in Rule 12b-2 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, or the rules or regulations
promulgated thereunder (the “Exchange Act”) and include all persons or entities that at any time during the term of this Agreement become Affiliates or Associates of any person or entity referred to in this Agreement. 

2. Certain Covenants. 

(a) Newtyn agrees that, from the date of this Agreement until the day following the 2017 Annual Meeting (the “Period”),
neither it nor any of its Affiliates or Associates will, and it will cause each of its Affiliates and Associates not to, directly or indirectly, in any manner: 

  
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 (i) engage in any solicitation of proxies or consents or become a “participant” in a
“solicitation” as such terms are defined in Regulation 14A under the Exchange Act of proxies or consents (including, without limitation, any “withhold campaign” or solicitation of consents that improperly seeks to call a special
meeting of stockholders), in each case, with respect to securities of the Company; 
 (ii) form, join or in any way participate in any
“group” (within the meaning of Section 13(d)(3) of the Exchange Act) with respect to the Common Stock (other than a “group” that includes all or some of the persons identified on Exhibit A, but does not include any other
entities or persons not identified on Exhibit A as of the date hereof); provided, however, that nothing in this Agreement limits the ability of an Affiliate of Newtyn to join the “group” following the execution of this Agreement, so
long as any such Affiliate agrees to be bound by the terms and conditions of this Agreement; 
 (iii) deposit any Common Stock in any voting
trust or subject any Common Stock to any arrangement or agreement with respect to the voting of any Common Stock, other than any such voting trust, arrangement or agreement solely among the members of Newtyn and otherwise in accordance with this
Agreement; 
 (iv) seek or encourage any person to submit nominations in furtherance of a “contested solicitation” for the
election or removal of directors with respect to the Company or seek, encourage or take any other action with respect to the election or removal of any directors; 

(v) (A) make any proposal for consideration by stockholders at any annual or special meeting of stockholders of the Company or (B) make any
offer or proposal (with or without conditions) with respect to a merger, acquisition, recapitalization, restructuring, disposition or other business combination involving the Company, or encourage, initiate or support any other third party in any
such related activity; 
 (vi) seek, alone or in concert with others, representation on the Board; 

(vii) seek to advise, encourage, support or influence any person with respect to the voting or disposition of any securities of the Company at
any annual or special meeting of stockholders; or 
 (viii) make any request or submit any proposal to amend the terms of this Agreement
other than through non-public communications with the Company that would not be reasonably determined to require public disclosure obligations for any Party. 

(b) Except as expressly provided in Section 2(a), each member of Newtyn shall be entitled to: 

  
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 (i) vote its or his shares on any other proposal duly brought before the 2016 Annual Meeting, the
2017 Annual Meeting or otherwise vote as each member of Newtyn determines in its or his sole discretion; or 
 (ii) disclose, publicly or
otherwise, how it intends to vote or act with respect to any securities of the Company, any stockholder proposal or other matter to be voted on by the stockholders of the Company and the reasons therefor; provided that, as applicable, all such
activity is in compliance with the requirements of this Agreement. 
 3. Representations and Warranties of the Company. 

The Company represents and warrants to Newtyn that (a) the Company has the corporate power and authority to execute this Agreement and to bind
it thereto, (b) this Agreement has been duly and validly authorized, executed and delivered by the Company, constitutes a valid and binding obligation and agreement of the Company, and is enforceable against the Company in accordance with its
terms, except as enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject to general equity principles, and (c)
the execution, delivery and performance of this Agreement by the Company does not and will not violate or conflict with (i) any law, rule, regulation, order, judgment or decree applicable to the Company or (ii) result in any breach or violation of
or constitute a default (or an event which with notice or lapse of time or both could constitute such a breach, violation or default) under or pursuant to, or result in the loss of a material benefit under, or give any right of termination,
amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment, understanding or arrangement to which the Company is a party or by which it is bound. 

4. Representations and Warranties of Newtyn. 

Newtyn represents and warrants to the Company that (a) the authorized signatories of Newtyn set forth on the signature page hereto have the
power and authority to execute this Agreement and any other documents or agreements to be entered into in connection with this Agreement and to bind it or him thereto, (b) this Agreement has been duly authorized, executed and delivered by Newtyn,
and is a valid and binding obligation of Newtyn, enforceable against Newtyn in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or similar
laws generally affecting the rights of creditors and subject to general equity principles, (c) the execution of this Agreement, the consummation of any of the transactions contemplated hereby, and the fulfillment of the terms hereof, in each
case in accordance with the terms hereof, will not conflict with, or result in a breach or violation of the organizational documents of any member of Newtyn as currently in effect, (d) the execution, delivery and performance of this Agreement by
Newtyn does not and will not violate or conflict with (i) any law, rule, regulation, order, judgment or decree applicable to Newtyn or (ii) result in any breach or violation of or constitute a default (or an event which with

  
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notice or lapse of time or both could constitute such a breach, violation or default) under or pursuant to, or result in the loss of a material benefit under, or give any right of termination,
amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment, understanding or arrangement to which such member is a party or by which it is bound, and (e) as of the date of this Agreement, (i) Newtyn
is deemed to beneficially own in the aggregate 1,285,609 shares of Common Stock and (ii) Newtyn does not currently have, and does not currently have any right to acquire, any interest in any other securities of the Company (or any rights, options or
other securities convertible into or exercisable or exchangeable (whether or not convertible, exercisable or exchangeable immediately or only after the passage of time or the occurrence of a specified event) for such securities or any obligations
measured by the price or value of any securities of the Company or any of its Affiliates, including any swaps or other derivative arrangements designed to produce economic benefits and risks that correspond to the ownership of Common Stock, whether
or not any of the foregoing would give rise to beneficial ownership (as determined under Rule 13d-3 promulgated under the Exchange Act), and whether or not to be settled by delivery of Common Stock, payment of cash or by other consideration,
and without regard to any short position under any such contract or arrangement). 
 5. Press Release. 

Promptly following the execution of this Agreement, the Company will publish a press release (the “Press Release”) announcing
certain terms of this Agreement, substantially in the form attached hereto as Exhibit B. Prior to the publication of the Press Release, neither the Company nor Newtyn will publish or make any press release or public announcement
regarding this Agreement without the prior written consent of the other Party. During the Period, neither the Company nor Newtyn will knowingly make any public announcement or statement that is inconsistent with or contrary to the statements
made in the Press Release, except as it determines in good faith is required by law or the rules of any stock exchange or with the prior written consent of the other Party. 

6. Specific Performance. 

Each of Newtyn, on the one hand, and the Company, on the other hand, acknowledges and agrees that irreparable injury to the other party hereto
would occur in the event any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached and that such injury would not be adequately compensable by the remedies available at law
(including the payment of money damages). It is accordingly agreed that Newtyn, on the one hand, and the Company, on the other hand (the “Moving Party”), will each be entitled to specific enforcement of, and injunctive relief to
prevent any violation of, the terms hereof, and the other party hereto will not take action, directly or indirectly, in opposition to the Moving Party seeking such relief on the grounds that any other remedy or relief is available at law or in
equity. This Section 6 is not the exclusive remedy for any violation of this Agreement. 

  
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 7. Expenses. 

The Company shall reimburse Newtyn for its reasonable, documented out-of-pocket legal fees and expenses of its counsel incurred in connection
with the matters related to the 2016 Annual Meeting and the negotiation and execution of this Agreement, provided that such reimbursement shall not exceed $50,000 in the aggregate. 

8. Severability. 
 If any
term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement will remain in full
force and effect and will in no way be affected, impaired or invalidated. It is hereby stipulated and declared to be the intention of the Parties that the Parties would have executed the remaining terms, provisions, covenants and restrictions
without including any of such which may be hereafter declared invalid, void or unenforceable. In addition, the Parties agree to use their respective best efforts to agree upon and substitute a valid and enforceable term, provision, covenant or
restriction for any of such that is held invalid, void or enforceable by a court of competent jurisdiction. 
 9. Notices. 

Any notices, consents, determinations, waivers or other communications required or permitted to be given under the terms of this Agreement
must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally, (ii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on
file by the sending party), or (iii) one business day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such
communications will be: 
 If to the Company: 

CSW Industrials, Inc. 

5420 Lyndon B. Johnson Freeway, Suite 500 

Dallas, Texas 75240 

Attn: Luke E. Alverson 

Telephone: (214) 489-7128 

with a copy (which will not constitute notice) to: 

  
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 Jones Day 

2727 N. Harwood St. 

Dallas, Texas 75201 

Attention:    R. Scott Cohen 

  James E. O’Bannon 

Telephone:  (214) 220-3939 

Facsimile:   (214) 969-5100 

If to Newtyn or any member thereof: 

Newtyn Management LLC 

405 Park Avenue, Suite 1104 

New York, New York 10022 

Attention:     Noah G. Levy 

Telephone:   (212) 446-2460 

Facsimile:    (212) 446-2461 

with a copy (which will not constitute notice) to: 

Olshan Frome Wolosky LLP 

1325 Avenue of the Americas 

New York, New York 10019 

Attention:     Andrew Freedman 

Telephone:   (212) 451-2250 

Facsimile:     (212) 451-2222 

10. Applicable Law. 

This Agreement will be governed by and construed and enforced in accordance with the laws of the State of Delaware without reference to the
conflict of laws principles thereof. Each of the Parties hereto irrevocably agrees that any legal action or proceeding with respect to this Agreement and the rights and obligations arising hereunder, or for recognition and enforcement of any
judgment in respect of this Agreement and the rights and obligations arising hereunder brought by the other party hereto or its successors or assigns, will be brought and determined exclusively in the Delaware Court of Chancery and any state
appellate court therefrom within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, any state or federal court within the State of Delaware). Each of the Parties hereto hereby
irrevocably submits, with regard to any such action or proceeding for itself and in respect of its property, generally and unconditionally, to the personal jurisdiction of the aforesaid courts and agrees that it will not bring any action relating to
this Agreement in any court other than the aforesaid courts. Each of the Parties hereto hereby irrevocably waives, and agrees not to assert in any action or proceeding with respect to this Agreement, (i) any claim that it is not personally
subject to the jurisdiction of the above-named courts for any reason, (ii) any claim that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service of
notice, attachment prior to judgment, 

  
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attachment in aid of execution of judgment, execution of judgment or otherwise), and (iii) to the fullest extent permitted by applicable legal requirements, any claim that (A) the suit,
action or proceeding in such court is brought in an inconvenient forum, (B) the venue of such suit, action or proceeding is improper, or (C) this Agreement, or the subject matter hereof, may not be enforced in or by such courts. 

11. Counterparts.  
 This
Agreement may be executed in two or more counterparts, each of which will be considered one and the same agreement and shall become effective when counterparts have been signed by each of the Parties and delivered to the other Party (including by
means of electronic delivery or facsimile). 
 12. Entire Agreement; Amendment and Waiver; Successors and Assigns; Third Party
Beneficiaries. 
 This Agreement contains the entire understanding of the Parties hereto with respect to its subject matter. There
are no restrictions, agreements, promises, representations, warranties, covenants or undertakings between the Parties other than those expressly set forth herein. No modifications of this Agreement may be made except in writing signed by an
authorized representative of each the Company and Newtyn, except that the signature of an authorized representative of the Company will not be required to permit an Affiliate of Newtyn to agree to be listed on Exhibit A and be bound by the
terms and conditions of this Agreement. No failure on the part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof, nor will any single or partial exercise of such right,
power or remedy by such party preclude any other or further exercise thereof or the exercise of any other right, power or remedy. All remedies hereunder are cumulative and are not exclusive of any other remedies provided by law. The terms
and conditions of this Agreement will be binding upon, inure to the benefit of, and be enforceable by the Parties hereto and their respective successors, heirs, executors, legal representatives, and permitted assigns. No party will assign this
Agreement or any rights or obligations hereunder without, with respect to any member of Newtyn, the prior written consent of the Company, and with respect to the Company, the prior written consent of NMLLC. This Agreement is solely for the
benefit of the Parties and is not enforceable by any other persons. 
 13. Mutual Non-Disparagement. 

Subject to applicable law, each of the Parties covenants and agrees that, during the Period, or if earlier, until such time as the other Party
or any of its agents, subsidiaries, affiliates, successors, assigns, officers, key employees or directors will have breached this Section, neither it nor any of its respective agents, subsidiaries, affiliates, successors, assigns, officers, key
employees or directors, will in any way publicly disparage, call into disrepute, or otherwise defame or slander the other Party or such other Party’s subsidiaries, affiliates, successors, assigns, officers (including any current officer of a
Party or its subsidiaries who no longer serves in such capacity 

  
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following the execution of this Agreement), directors (including any current director of a Party or its subsidiaries who no longer serves in such capacity following the execution of this
Agreement), employees, stockholders, agents, attorneys or representatives, or any of their products or services, in any manner that would damage the business or reputation of such other Party, its products or services or its subsidiaries,
affiliates, successors, assigns, officers (or former officers), directors (or former directors), employees, stockholders, agents, attorneys or representatives. 

[The remainder of this page intentionally left blank] 

  
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 IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly authorized
signatories of the Parties as of the date hereof. 
  

			
	CSW INDUSTRIALS, INC.
		
	By:	 	 /s/ Joseph B. Armes

	Name:	 	Joseph B. Armes
	Title:	 	Chief Executive Officer
	
	Newtyn Partners, LP
		
	By:	 	Newtyn Management, LLC
		 	Investment Manager
		
	By:	 	 /s/ Noah G. Levy

	Name:	 	Noah G. Levy
	Title:	 	Authorized Signatory
	
	Newtyn TE Partners, LP
		
	By:	 	Newtyn Management, LLC
		 	Investment Manager
		
	By:	 	 /s/ Noah G. Levy

	Name:	 	Noah G. Levy
	Title:	 	Authorized Signatory
	
	Newtyn Management, LLC
		
	By:	 	 /s/ Noah G. Levy

	Name:	 	Noah G. Levy
	Title:	 	Authorized Signatory

 [Signature Page to Agreement] 

			
	Newtyn Capital Partners, LP
		
	By:	 	Ledo Capital, LLC
		 	General Partner
		
	By:	 	 /s/ Noah G. Levy

	Name:	 	Noah G. Levy
	Title:	 	Authorized Signatory
	
	Ledo Capital, LLC
		
	By:	 	 /s/ Noah G. Levy

	Name:	 	Noah G. Levy
	Title:	 	Authorized Signatory
	
	 /s/ Noah G. Levy

	Noah G. Levy

 [Signature Page to Agreement] 

 EXHIBIT A 

Newtyn Partners, LP 
 Newtyn TE
Partners LP 
 Newtyn Management, LLC 

Newtyn Capital Partners, LP 
 Ledo
Capital, LLC 
 Noah LevyEX-10.7

 Exhibit 10.7 

 
  

SEVENTH AMENDMENT 
 to
the 
 COMPOSITE LEASE AGREEMENT 

By and Between 

MEMPHIS-SHELBY COUNTY AIRPORT AUTHORITY 

and 
 FEDERAL EXPRESS
CORPORATION 
 Effective as of April 1, 2016 
  

 

 SEVENTH AMENDMENT TO THE COMPOSITE LEASE AGREEMENT 

This SEVENTH Amendment is made and entered into as of the 1st day of June 2016, by and
between MEMPHIS-SHELBY COUNTY AIRPORT AUTHORITY (herein referred to as “Authority”), a body politic and corporate, organized and existing under the laws of the State of Tennessee, and FEDERAL EXPRESS CORPORATION (herein referred to as
“Tenant”), a corporation duly organized and existing under the laws of the State of Delaware. 
 W I T N E S S E T H: 

WHEREAS Authority and Tenant executed an instrument entitled “Composite Lease Agreement” with an effective date of January 1, 2007
(that instrument, as previously amended by First Amendment to the Composite Lease Agreement intended to be effective as of September 1, 2008; by Second Amendment to the Composite Lease Agreement intended to be effective as of June 1, 2009;
by Third Amendment to the Composite Lease Agreement intended to be effective as of July 1, 2009; by Fourth Amendment to the Composite Lease Agreement intended to be effective as of December 15, 2011; by Fifth Amendment to the Composite Lease
Agreement intended to be effective as of January 1, 2013; by Sixth Amendment to the Composite Lease Agreement intended to be effective as of July 1, 2014; collectively referred to herein as the “Composite Lease Agreement”); 

WHEREAS Authority and Tenant intended the Composite Lease Agreement to represent each of 23 separate lease agreements between the parties
(later increased to 26) and showed the differences among the 23 (later 26 leases) by attaching to the Composite Lease Agreement as Exhibit A, a schedule that identified each parcel of real property Authority leased to Tenant, the portion of the Term
(as defined in the Composite Lease Agreement) during which the lease of each parcel will be in effect, and the rent that Tenant pays to Authority for each parcel; and 

WHEREAS the parties entered into a Special Facility Ground Lease Agreement dated July 1, 1993, and as amended by First Amendment dated
September 1, 2008, and a Special Facility Lease Agreement dated July 1, 1993, in conjunction with the issuance of Special Facilities Revenue Bonds, Series 1993 (“Series 1993 Bonds”), to finance the construction, installation, renovation,
and remodeling of the building known as the Corporate Hangar and the buildings known as Hangars 11 and 12; and 

  
 2 

 WHEREAS the Series 1993 Bonds will be paid in full and retired on or before the effective date of
this SEVENTH Amendment, and the Special Facility Ground Lease Agreement and the Special Facility Lease Agreement will terminate upon retirement of the Series 1993 Bonds; and 

WHEREAS the parties wish to amend the Composite Lease Agreement to add a parcel of land to be used for but not limited to parking effective as
of April 1, 2016.
 NOW, THEREFORE, for and in consideration of the promises, covenants and agreements hereinafter contained to be kept
and performed by the parties hereto and upon the provisions and conditions hereinafter set forth, Authority and Tenant do hereby covenant and agree as follows: 

SECTION 1. Definitions. Except as otherwise provided herein, and unless the context shall clearly require otherwise, all
words and terms used in this SEVENTH Amendment that are defined in the Composite Lease Agreement, the Special Facility Ground Lease Agreement and the Special Facility Lease Agreement shall have the respective meanings given to them in
each agreement for all purposes of this SEVENTH Amendment. 
 SECTION 2. Modification of Composite Lease and Applicable
Rent. The parties amend the Composite Lease Agreement to reflect the addition of Parcel 29, as described in the attached description, and all improvements constructed on Parcel 29 prior to the effective date of this
Amendment which is approximately 29,174 square feet, the parties incorporate the attached descriptions of Parcel 29, to be part of Exhibit “A” to the Composite Lease Agreement and the parties substitute the table attached to
this Amendment for the table included as part of Exhibit “A” to the Composite Lease Agreement. The substitution of that table will accomplish the following: 

(a) Effective as of April 1, 2016 the annual rent will be increased by an amount equal to the product achieved by multiplying the combined
area of the improved land (i.e., 29,174 square feet) by $ 0.2077 per square foot of additional area footprint. 
 (b) The rent, as
adjusted in accordance with the foregoing, will continue to be subject to adjustment in accordance with the terms of Section 2.03(a)(i) of the Composite Lease Agreement 

SECTION 3. Remainder of Composite Lease in Effect. All other terms, provisions, conditions, covenants and
agreements of the Composite Lease shall continue in full force and effect. 
 SECTION 4. Effective Dates of this SEVENTH
Amendment. This SEVENTH Amendment shall become effective as of April 1, 2016. 

  
 3 

 IN WITNESS WHEREOF, the parties have caused their duly authorized representatives to execute this
SEVENTH Amendment to the Composite Lease Agreement.  
  

									
	MEMPHIS-SHELBY COUNTY	 		 	FEDERAL EXPRESS CORPORATION
	AIRPORT AUTHORITY	 		 		 	
				
	 /s/ Scott A. Brockman
	 		 		 	
	By:	 	Scott A Brockman	 		 	By:	 	 /s/ Wiley Johnson, Jr.

	Scott A. Brockman, A.A.E.	 		 		 	
	President and CEO	 		 	Title:	 	 Managing Director, Real Estate and Airport Development

				
		 		 	Date:	 	  

  

			
	Approved as to Content
		
	By:	 	 /s/ Forrest B. Artz

		 	Forrest B. Artz, Vice President of Finance and Administration & CFO
	
	Approved as to Form and Legality:
		
	By:	 	 /s/ Brian Kuhn

		 	Brian Kuhn, General Counsel

  
 4 

 [DIAGRAM] 

 Description of Lease Parcel 

Description of a ground lease area being a portion of the Memphis-Shelby County Airport Authority Property as recorded in Special Warranty Deed F5-5925,
Parcel 1, said ground lease area being located south of Democrat Road and west of the former T.A.N.G. property and more particularly described by metes and bounds as follows: 

BEGINNING at the northwest corner of the former T.A.N.G. Supplemental Agreement No. 5, said northwest corner being located in the south right-of-way
line of Democrat Road (100’ right-of-way, 60’ from centerline) and being located South 89 degrees 11 minutes 03 seconds East, a distance of 1362.75 feet along the south right-of-way line of Democrat Road from a right-of-way corner in which
the rightof-way of Democrat Road changes from a 200 foot right-of-way to a 100 foot right-of-way, said right of way corner being N00°40’37”E, 39.20’ from a found right-of-way concrete marker; thence departing from said south
right-of-way line of Democrat Road and with a portion of the west line of said former T.A.N.G. Supplemental Agreement No. 5, South 02 degrees 17 minutes 08 seconds West a distance of 322.96 feet to the most northerly northeast corner of Lease Parcel
4; thence with a portion of the north line of said Parcel 4, South 66 degrees 23 minutes 23 seconds West a distance of 89.62 feet to a point; thence departing from said north line, North 00 degrees 50 minutes 00 seconds East a distance 359.92 feet
to a point on said south right-of-way line of Democrat Road; thence with a portion of said south right-of-way line, South 89 degrees 11 minutes 03 seconds East a distance of 89.77 feet to the TRUE POINT OF BEGINNING and containing 29,174
square feet or 0.67 acres, more or less. 

 APPROVED: 

            MSCAA 

            FEDEX 

 

																																																																																	
	 	 	A	 	B	 	 C
	 	D	 	F	 	 	G	 	 	H	 	 	P	 	 	Q	 	 	R	 	 	S	 	 	T	 	 	U	 	 	 V
	 	W	 	 	X	 	 	Y	 	 	Z	 	 	AA	 	 	AB	 	 	 AC
	 	 AD
	 	 AE
	 	 AF
	 	 AG

	1	 	 EXHIBIT A to the Composite Lease Agreement as amended by the Sixth Amendment
dated July 1, 2014

	2	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	2011	 	 	2012	 	 	 2013
	 	 	2014	 	 	 2015-17
	 	 2018
	 	 
	3	 	 	 	FEDEX	 	 	 	 	 	 	 	 	 	 	 	EFFECTIVE	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4	 	PARCEL	 	LEASE	 	 	 	 	 	EFFECTIVE	 	 	SQUARE	 	 	DATE	 	 	EFFECTIVE
DECEMBER
2011	 	 	EFFECTIVE SEPTEMBER 2012	 	 	 EFFECTIVE July 1, 2013
	 	 	 	 	 	EFFECTIVE July 1, 2014	 	 	 Effective April 1, 2015-
December 31,
2017
	 	 EFFECTIVE
July 1, 2018
	 	 
	5	 	NUMBER	 	NUMBER	 	 SUPPLEMENTAL
	 	USE
OR LOCATION	 	DATE	 	 	FEET	 	 	RATE	 	 	RATES	 	 	MONTHLY	 	 	ANNUAL	 	 	RATES	 	 	MONTHLY	 	 	ANNUAL	 	 	 ESCALATION
(3)
	 	RATES	 	 	MONTHLY	 	 	ANNUAL	 	 	RATES	 	 	MONTHLY	 	 	ANNUAL	 	 	 RATES
	 	 MONTHLY
	 	 ANNUAL
	 	 ESCALATION
(3)
	 	 
	6	 	1	 	07-0958	 	 N/A
	 	TAXIWAY N	 	 	2/1/2009	  	 	 	100,035	  	 	$	0.1906	  	 	$	0.1906	  	 	$	1,588.89	  	 	$	19,066.67	  	 	$	0.1906	  	 	$	1,588.89	  	 	$	19,066.67	  	 	CPI OR 13%	 	$	0.2077	  	 	$	1,731.41	  	 	$	20,776.95	  	 	$	0.2077	  	 	$	1,731.41	  	 	$	20,776.95	  	 		 		 		 	CPI OR 13%	 	
	7	 		 		 		 		 				 				 				 				 				 				 				 				 				 		 				 				 				 				 				 				 		 		 		 		 	
	8	 	2	 	07-0959	 	 SUPPLEMENTAL 26
	 	AMR
FACILITIES/
LANDLOCKED
PARCELS	 	 	1/1/2007	  	 	 	1,082,446	  	 	 	Varies (1)	  	 	 	Varies (1)	  	 	$	28,533.41	  	 	$	342,400.87	  	 	 	Varies (1)	  	 	$	28,533.41	  	 	$	342,400.87	  	 	CPI OR 13%	 	 	Varies (1)	  	 	$	31,092.85	  	 	$	373,114.23	  	 	 	Varies (1)	  	 	$	31,092.85	  	 	$	373,114.23	  	 		 		 		 	CPI OR 13%	 	
	9	 		 		 	N/A 5th Amendment to Composite Lease	 	UNIMPROVED
GROUND	 	 	11/1/2013 	(9) 	 	 	44,344	  	 	$	0.2077	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	CPI OR 13%	 	 	0.2077 	(9) 	 	 	N/A	  	 	 	N/A	  	 	$	0.2077	  	 	$	767.52	  	 	 	$9,210.25	  	 		 		 		 	CPI OR 13%	 	
	10	 		 		 		 		 				 				 				 				 				 				 				 				 				 		 				 				 				 				 				 				 		 		 		 		 	
	11	 	3	 	07-0960	 	 SUPPLEMENTALS
	 	WEST RAMP	 				 				 				 				 				 				 				 				 				 		 				 				 				 				 				 				 		 		 		 		 	
	12	 	 	 	18, 19, 20, 21, 22 & 23	 	UNIMPROVED
GROUND	 	 	1/1/2007	  	 	 	3,111,647	  	 	$	0.1525	  	 	$	0.1906	  	 	$	49,423.33	  	 	$	593,079.92	  	 	$	0.1906	  	 	$	49,423.33	  	 	$	593,079.92	  	 	CPI OR 13%	 	$	0.2077	  	 	$	53,856.60	  	 	$	646,279.19	  	 	$	0.2077	  	 	$	53,856.60	  	 	$	646,279.19	  	 		 		 		 	CPI OR 13%	 	
	13	 	 	 	22, 24 & 25	 	UNIMPROVED
GROUND	 	 	1/1/2007	  	 	 	914,283	  	 	$	0.1525	  	 	$	0.1906	  	 	$	14,521.86	  	 	$	174,262.34	  	 	$	0.1906	  	 	$	14,521.86	  	 	$	174,262.34	  	 	CPI OR 13%	 	$	0.2077	  	 	$	15,824.47	  	 	$	189,893.67	  	 	$	0.2077	  	 	$	15,824.47	  	 	$	189,893.67	  	 		 		 		 	CPI OR 13%	 	
	14	 		 		 	N/A 5th Amendment to Composite Lease	 	UNIMPROVED
GROUND	 	 	11/1/2013 	(9) 	 	 	2,744	  	 	$	0.2077	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	CPI OR 13%	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	$	0.2077	  	 	$	47.49	  	 	$	569.92	  	 		 		 		 	CPI OR 13%	 	
	15	 		 		 		 		 				 				 				 				 				 				 				 				 				 		 				 				 				 				 				 				 		 		 		 		 	
	16	 	4	 	07-0961	 	 N/A
	 	TAXIWAY C	 	 	2/1/2009	  	 	 	731,098	  	 	$	0.2400	  	 	$	0.2400	  	 	$	14,621.96	  	 	$	175,463.52	  	 	$	0.2400	  	 	$	14,621.96	  	 	$	175,463.52	  	 	CPI OR 13%	 	$	0.2615	  	 	$	15,933.55	  	 	$	191,202.60	  	 	$	0.2615	  	 	$	15,933.55	  	 	$	191,202.60	  	 		 		 		 	CPI OR 13%	 	
	17	 		 		 		 		 				 				 				 				 				 				 				 				 				 		 				 				 				 				 				 				 		 		 		 		 	
	18	 	5	 	07-0962	 	 SUPPLEMENTAL 13
	 	UNIMPROVED
APRON/
GRACELAND
RAMP	 	 	1/1/2007	  	 	 	515,496	  	 	$	0.1525	  	 	$	0.1906	  	 	$	8,187.79	  	 	$	98,253.48	  	 	$	0.1906	  	 	$	8,187.79	  	 	$	98,253.48	  	 	CPI OR 13%	 	$	0.2077	  	 	$	8,922.24	  	 	$	107,066.88	  	 	$	0.2077	  	 	$	8,922.24	  	 	$	107,066.88	  	 		 		 		 	CPI OR 13%	 	
	19	 	 	 	SUPPLEMENTAL 17	 	UNIMPROVED
APRON/
SIERRA RAMP	 	 	1/1/2007	  	 	 	$	0.1525	  	 	 	 	 	 	 	 	CPI OR 13%	 	 	 	 	 	 	 		 		 		 	CPI OR 13%	 	
	20	 		 		 		 		 				 				 				 				 				 				 				 				 				 		 				 				 				 				 				 				 		 		 		 		 	
	21	 	6	 	07-0963	 	 AGREEMENT #92-0833
	 	IRS/AOD	 	 	1/1/2007	  	 	 	2,248,286	  	 	 	N/A (6)	  	 	 	N/A (6)	  	 	$	125,000.00	  	 	$	1,500,000.00	  	 	 	N/A (6)	  	 	$	125,000.00	  	 	$	1,500,000.00	  	 	15% (7)	 	 	N/A (6)	  	 	$	143,750.00	  	 	$	1,725,000.00	  	 	 	N/A (6)	  	 	$	143,750.00	  	 	$	1,725,000.00	  	 		 		 		 	CPI OR 13%	 	
	22	 		 		 		 		 				 				 				 				 				 				 				 				 				 		 				 				 				 				 				 				 		 		 		 		 	
	23	 	7	 	07-0964	 	 SOUTHWIDE #90-0242
	 	GRAEBER
ASSIGNMENT	 	 	1/1/2007	  	 	 	427,030	  	 	 	N/A (6)	  	 	 	N/A (6)	  	 	$	2,506.15	  	 	$	30,073.80	  	 	 	N/A (6)	  	 	$	2,506.15	  	 	$	30,073.80	  	 	CPI OR 13%	 	 	N/A (6)	  	 	$	2,730.95	  	 	$	32,771.42	  	 	 	N/A (6)	  	 	$	2,730.95	  	 	$	32,771.42	  	 		 		 		 	CPI OR 13%	 	
	24	 		 		 		 		 				 				 				 				 				 				 				 				 				 		 				 				 				 				 				 				 		 		 		 		 	
	25	 	8	 	07-0965	 	 SOUTHWIDE ASGMT. #80-0223
	 	EQUITABLE
LIFE	 	 	1/1/2007	  	 	 	451,370	  	 	 	N/A (6)	  	 	 	N/A (6)	  	 	$	2,340.16	  	 	$	28,081.92	  	 	 	N/A (6)	  	 	$	2,340.16	  	 	$	28,081.92	  	 	CPI OR 13%	 	 	N/A (6)	  	 	$	2,550.07	  	 	$	30,600.87	  	 	 	N/A (6)	  	 	$	2,550.07	  	 	$	30,600.87	  	 		 		 		 	CPI OR 13%	 	
	26	 		 		 		 		 				 				 				 				 				 				 				 				 				 		 				 				 				 				 				 				 		 		 		 		 	
	27	 	9	 	07-0966	 	SUPPLEMENTAL 15 (INTERNATIONAL PARK)	 	FEDEX
PARKING -
TCHULAHOMA	 	 	1/1/2007	  	 	 	833,458	  	 	$	0.2673	  	 	$	0.2673	  	 	$	18,565.28	  	 	$	222,783.32	  	 	$	0.2673	  	 	$	18,565.28	  	 	$	222,783.32	  	 	CPI OR 13%	 	$	0.2913	  	 	$	20,230.58	  	 	$	242,766.99	  	 	$	0.2913	  	 	$	20,230.58	  	 	$	242,766.99	  	 		 		 		 	CPI OR 13%	 	

																																																																																							
	28	 		 				 		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 		 		 		 				 	
	29	 	10	 	 	07-0967	  	 	SUPPLEMENTAL 16 (INTERNATIONAL PARK)	 	FEDEX CONSTRUCTION STORAGE AREA	 	 	1/1/2007 	(2) 	 	 	140,617	  	 	$	0.2673	  	 	$	0.2673	  	 	$	3,132.24	  	 	$	37,586.92	  	 	$	0.2673	  	 	$	3,132.24	  	 	$	37,586.92	  	 	 	CPI OR 13%	  	 	$	0.2913	  	 	$	3,413.21	  	 	$	40,958.47	  	 	$	0.2913	  	 	$	3,413.21	  	 	$	40,958.47	  	 		 		 		 	 	CPI OR 13	% 	 	
	30	 		 				 		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 		 		 		 				 	
	31	 	11	 	 	07-0968	  	 	SUPPLEMENTAL 13	 	UNIMPROVED GROUND/GSE STORAGE	 	 	1/1/2007	  	 	 	187,217	  	 	$	0.1525	  	 	$	0.1906	  	 	$	2,973.63	  	 	$	35,683.56	  	 	$	0.1906	  	 	$	2,973.63	  	 	$	35,683.56	  	 	 	CPI OR 13%	  	 	$	0.2077	  	 	$	3,240.36	  	 	$	38,884.38	  	 	$	0.2077	  	 	$	3,240.36	  	 	$	38,884.38	  	 		 		 		 	 	CPI OR 13	% 	 	
	32	 		 				 		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 		 		 		 				 	
	33	 	12	 	 	07-0969	  	 	SUPPLEMENTAL 27	 	A-380 GSE STORAGE	 	 	12/01/07	  	 	 	187,618	  	 	$	0.1525	  	 	$	0.1525	  	 	$	2,384.31	  	 	$	28,611.75	  	 	$	0.1525	  	 	$	2,384.31	  	 	$	28,611.75	  	 	 	CPI OR 13%	  	 	$	0.1662	  	 	$	2,598.18	  	 	$	31,178.22	  	 	$	0.1662	  	 	$	2,598.18	  	 	$	31,178.22	  	 		 		 		 	 	CPI OR 13	% 	 	
	34	 		 				 		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 		 		 		 				 	
	35	 	13	 	 	07-0970	  	 	SUPPLEMENTAL 23	 	A-380 RAMP	 	 	1/1/2007	  	 	 	1,897,879	  	 	$	0.1220	  	 	$	0.1220	  	 	$	19,295.10	  	 	$	231,541.24	  	 	$	0.1220	  	 	$	19,295.10	  	 	$	231,541.24	  	 	 	CPI OR 13%	  	 	$	0.1329	  	 	$	21,025.87	  	 	$	252,310.49	  	 	$	0.1329	  	 	$	21,025.87	  	 	$	252,310.49	  	 		 		 		 	 	CPI OR 13	% 	 	
	36	 	 	 	SUPPLEMENTAL 25	 	A-380 GSE RAMP	 	 	1/1/2007	  	 	 	319,113	  	 	$	0.1525	  	 	$	0.1906	  	 	$	5,068.58	  	 	$	60,822.94	  	 	$	0.1906	  	 	$	5,068.58	  	 	$	60,822.94	  	 	 	CPI OR 13%	  	 	$	0.2077	  	 	$	5,523.23	  	 	$	66,278.76	  	 	$	0.2077	  	 	$	5,523.23	  	 	$	66,278.76	  	 		 		 		 	 	CPI OR 13	% 	 	
	37	 		 				 		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 		 		 		 				 	
	38	 	14	 	 	07-0971	  	 	SUPPLEMENTAL 14	 	UNIMPROVED APRON/DE-ICING EQUIPMENT STORAGE	 	 	1/1/2007	  	 	 	428,616	  	 	$	0.1525	  	 	$	0.1906	  	 	$	6,807.85	  	 	$	81,694.21	  	 	$	0.1906	  	 	$	6,807.85	  	 	$	81,694.21	  	 	 	CPI OR 13%	  	 	$	0.2077	  	 	$	7,418.52	  	 	$	89,022.18	  	 	$	0.2077	  	 	$	7,418.52	  	 	$	89,022.18	  	 		 		 		 	 	CPI OR 13	% 	 	
	39	 		 				 		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 		 		 		 				 	
	40	 	15	 	 	07-0972	  	 	N/A	 	SPRANKLE ROAD	 	 	1/1/2007	  	 	 	200,695	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.00	  	 	$	0.00	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.0000	  	 	 	N/A	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.0000	  	 		 		 		 	 	N/A	  	 	
	41	 	16	 	 	07-0973	  	 	N/A	 	REPUBLIC ROAD	 	 	1/1/2007	  	 	 	113,179	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.00	  	 	$	0.00	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.0000	  	 	 	N/A	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.0000	  	 	$	0.0000	  	 		 		 		 	 	N/A	  	 	
	42	 		 				 		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 		 		 		 				 	
	43	 	17	 	 	07-0974	  	 	SUPPLEMENTALS	 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 		 		 		 				 	
	44	 	 	 	1 Parcel 1, 2, 3, 4, 6 & 9 (UNIMP GROUND)	 		 	 	1/1/2007	  	 	 	1,662,877	  	 	$	0.1525	  	 	$	0.1906	  	 	$	26,412.03	  	 	$	316,944.36	  	 	$	0.1906	  	 	$	26,412.03	  	 	$	316,944.36	  	 	 	CPI OR 13%	  	 	$	0.2077	  	 	$	28,781.19	  	 	$	345,374.26	  	 	$	0.2077	  	 	$	28,781.19	  	 	$	345,374.26	  	 		 		 		 	 	CPI OR 13	% 	 	
	45	 	 	 	1 Parcel 1, 2, 7, 9 (IMP APRON)	 		 	 	1/1/2007	  	 	 	1,908,290	  	 	$	0.1906	  	 	$	0.2383	  	 	$	37,895.46	  	 	$	454,745.51	  	 	$	0.2383	  	 	$	37,895.46	  	 	$	454,745.51	  	 	 	CPI OR 13%	  	 	$	0.2597	  	 	$	41,294.68	  	 	$	495,536.18	  	 	$	0.2597	  	 	$	41,294.68	  	 	$	495,536.18	  	 		 		 		 	 	CPI OR 13	% 	 	
	46	 	 	 	Parcel 5 (INTERNATIONAL PARK)	 		 	 	1/1/2007	  	 	 	24,000	  	 	$	0.2673	  	 	$	0.3341	  	 	$	668.25	  	 	$	8,019.00	  	 	$	0.3341	  	 	$	668.25	  	 	$	8,019.00	  	 	 	CPI OR 13%	  	 	$	0.3641	  	 	$	728.14	  	 	$	8,737.65	  	 	$	0.3641	  	 	$	728.14	  	 	$	8,737.65	  	 		 		 		 	 	CPI OR 13	% 	 	
	47	 	 	 	1 Parcel 8 (INTERNATIONAL PARK)	 	FUEL TANKS	 	 	1/1/2007	  	 	 	247,254	  	 	$	0.2673	  	 	$	0.3341	  	 	$	6,884.48	  	 	$	82,613.74	  	 	$	0.3341	  	 	$	6,884.48	  	 	$	82,613.74	  	 	 	CPI OR 13%	  	 	$	0.3641	  	 	$	7,501.45	  	 	$	90,017.46	  	 	$	0.3641	  	 	$	7,501.45	  	 	$	90,017.46	  	 		 		 		 	 	CPI OR 13	% 	 	
	48	 	 	 	1 & 8 Parcel 12 (INETRNATIONAL PARK)	 	ARTC TRAINING BUILDING	 	 	1/1/2007	  	 	 	117,915	  	 	$	0.2673	  	 	$	0.3341	  	 	$	3,283.20	  	 	$	39,398.35	  	 	$	0.3341	  	 	$	3,283.20	  	 	$	39,398.35	  	 	 	CPI OR 13%	  	 	$	0.3641	  	 	$	3,577.43	  	 	$	42,929.17	  	 	$	0.3641	  	 	$	3,577.43	  	 	$	42,929.17	  	 		 		 		 	 	CPI OR 13	% 	 	
	49	 	 	 	1 & 8 Parcel 11 (INTERNATIONAL PARK)	 	GAS STATION	 	 	1/1/2007	  	 	 	45,359	  	 	$	0.2673	  	 	$	0.3341	  	 	$	1,262.96	  	 	$	15,155.58	  	 	$	0.3341	  	 	$	1,262.96	  	 	$	15,155.58	  	 	 	CPI OR 13%	  	 	$	0.3641	  	 	$	1,376.15	  	 	$	16,513.80	  	 	$	0.3641	  	 	$	1,376.15	  	 	$	16,513.80	  	 		 		 		 	 	CPI OR 13	% 	 	
	50	 	 	 	8 Parcel 9 (INTERNATIONAL PARK)	 	SOUTH RAMP, COURTYARD, SOUTHGATES	 	 	1/1/2007	  	 	 	1,586,172	  	 	$	0.2673	  	 	$	0.3341	  	 	$	44,164.98	  	 	$	529,979.72	  	 	$	0.3341	  	 	$	44,164.98	  	 	$	529,979.72	  	 	 	CPI OR 13%	  	 	$	0.3641	  	 	$	48,122.97	  	 	$	577,475.69	  	 	$	0.3641	  	 	$	48,122.97	  	 	$	577,475.69	  	 		 		 		 	 	CPI OR 13	% 	 	
	51	 	 	 	Parcel 10 (INTERNATIONAL PARK)	 	SOUTHEASTERN RAMP, NORTH SECONDARY,	 	 	1/1/2007	  	 	 	70,200	  	 	$	0.2673	  	 	$	0.3341	  	 	$	1,954.63	  	 	$	23,455.58	  	 	$	0.3341	  	 	$	1,954.63	  	 	$	23,455.58	  	 	 	CPI OR 13%	  	 	$	0.3641	  	 	$	2,129.80	  	 	$	25,557.63	  	 	$	0.3641	  	 	$	2,129.80	  	 	$	25,557.63	  	 		 		 		 	 	CPI OR 13	% 	 	
	52	 	 	 	Parcel 17 (INTERNATIONAL PARK)	 	NORTH INPUT, PRIMARY SORT,	 	 	1/1/2007	  	 	 	4,333,659	  	 	$	0.2673	  	 	$	0.3341	  	 	$	120,665.32	  	 	$	1,447,983.81	  	 	$	0.3341	  	 	$	120,665.32	  	 	$	1,447,983.81	  	 	 	CPI OR 13%	  	 	$	0.3641	  	 	$	131,479.16	  	 	$	1,577,749.90	  	 	$	0.3641	  	 	$	131,479.16	  	 	$	1,577,749.90	  	 		 		 		 	 	CPI OR 13	% 	 	
	53	 	 	 		 	SMALL PACKAGE SORT SYSTEM,	 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 		 		 		 				 	
	54	 	 	 		 	INTERNATIONAL INPUT, HEAVY WEIGHT, EAST RAMP	 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 		 		 		 				 	
	55	 	 	 		 	TAB-LINE MAINTENANCE	 	 	1/1/2007	  	 	 	556,334	  	 	$	0.2673	  	 	$	0.3341	  	 	$	15,490.42	  	 	$	185,885.10	  	 	$	0.3341	  	 	$	15,490.42	  	 	$	185,885.10	  	 	 	CPI OR 13%	  	 	$	0.3641	  	 	$	16,878.65	  	 	$	202,543.84	  	 	$	0.3041	  	 	$	14,099.88	  	 	$	169,198.54	  	 		 		 		 	 	CPI OR 13	% 	 	
	56	 	 	 	10 Parcel 27A (IMP APRON)	 	PARCEL 27A	 	 	1/1/2007	  	 	 	487,512	  	 	$	0.1906	  	 	$	0.2383	  	 	$	9,681.18	  	 	$	116,174.11	  	 	$	0.2383	  	 	$	9,681.18	  	 	$	116,174.11	  	 	 	CPI OR 13%	  	 	$	0.2597	  	 	$	10,549.58	  	 	$	126,594.93	  	 	$	0.2597	  	 	$	10,549.58	  	 	$	126,594.93	  	 		 		 		 	 	CPI OR 13	% 	 	
	57	 	 	 	11 Parcel A & B West (UNIMP GROUND)	 	NORTH RAMP	 	 	1/1/2007	  	 	 	527,676	  	 	$	0.1525	  	 	$	0.1906	  	 	$	8,381.25	  	 	$	100,575.05	  	 	$	0.1906	  	 	$	8,381.25	  	 	$	100,575.05	  	 	 	CPI OR 13%	  	 	$	0.2077	  	 	$	9,133.05	  	 	$	109,596.63	  	 	$	0.2077	  	 	$	9,133.05	  	 	$	109,596.63	  	 		 		 		 	 	CPI OR 13	% 	 	

																																																																																											
	58	 		 		  	5 Parcel 16 (INTERNATIONAL PARK)	 		 	 	1/1/2007	  	 	 	796,312	  	 	$	0.2673	  	 	 	$0.3341	  	 	 	$22,172.31	  	 	$	266,067.75	  	 	$	0.3341	  	 	$	22,172.31	  	 	$	266,067.75	  	 	 	CPI OR 13	% 	 	$	0.3641	  	 	$	24,159.36	  	 	$	289,912.33	  	 	$	0.3641	  	 	$	24,159.36	  	 	$	289,912.33	  	 				 				 				 	 	CPI OR 13	% 	 	
	59	 		 		  	23	 	GRAEBER ASSIGNMENT/TRUCKING OPERATION	 	 	1/1/2007	  	 	 	261,460	  	 	$	0.1029	  	 	 	$0.1286	  	 	 	$2,802.53	  	 	$	33,630.32	  	 	$	0.1286	  	 	$	2,802.53	  	 	$	33,630.32	  	 	 	CPI OR 13	% 	 	$	0.1401	  	 	$	3,053.32	  	 	$	36,639.83	  	 	$	0.1401	  	 	$	3,053.32	  	 	$	36,639.83	  	 				 				 				 	 	CPI OR 13	% 	 	
	60	 		 		  	SUPPLEMENTAL 9 (INTERNATIONAL PARK)	 	PARKING AREA	 	 	1/1/2007	  	 	 	18,933	  	 	$	0.2673	  	 	 	$0.3341	  	 	$	527.17	  	 	$	6,325.99	  	 	$	0.3341	  	 	$	527.17	  	 	$	6,325.99	  	 	 	CPI OR 13	% 	 	$	0.3641	  	 	$	574.41	  	 	$	6,892.91	  	 	$	0.3641	  	 	$	574.41	  	 	$	6,892.91	  	 				 				 				 	 	CPI OR 13	% 	 	
	61	 		 		  		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 	
	62	 	18	 	07-0975	  	SUPPLEMENTAL 8 (INTERNATIONAL PARK)	 	DC-10 HANGAR (LAND)	 	 	1/1/2007	  	 	 	552,730	  	 	$	0.2673	  	 	 	$0.2673	  	 	 	$12,312.06	  	 	$	147,744.73	  	 	$	0.2673	  	 	$	12,312.06	  	 	$	147,744.73	  	 	 	CPI OR 13	% 	 	$	0.2913	  	 	$	13,416.45	  	 	$	160,997.43	  	 	$	0.2913	  	 	$	13,416.45	  	 	$	160,997.43	  	 				 				 				 	 	CPI OR 13	% 	 	
	63	 	18A	 	07-0976	  	BUILDING HAVING AN AREA OF 72,378 SQ FT & OTHER IMPROVEMENTS	 	DC-10 HANGAR (BUILDING)	 	 	9/1/2012 	(4) 	 	 	72,378	  	 	$	1.2600	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	$	1.2600	  	 	$	7,599.69	  	 	$	91,196.28	  	 	 	CPI OR 13	% 	 	$	1.3730	  	 	$	8,281.38	  	 	$	99,376.59	  	 	$	1.3730	  	 	$	8,281.38	  	 	$	99,376.59	  	 				 				 				 	 	CPI OR 13	% 	 	
	64	 		 		  	CONSTRUCTED ON PARCEL 18	 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 	
	65	 	19	 	07-0977	  	SUPPLEMENTAL 8 (INTERNATIONAL PARK)	 	ENGINE SHOP	 	 	1/1/2007	  	 	 	418,016	  	 	$	0.2673	  	 	 	$0.2673	  	 	 	$9,311.31	  	 	$	111,735.68	  	 	$	0.2673	  	 	$	9,311.31	  	 	$	111,735.68	  	 	 	CPI OR 13	% 	 	$	0.2913	  	 	$	10,146.53	  	 	$	121,758.37	  	 	$	0.2913	  	 	$	10,146.53	  	 	$	121,758.37	  	 				 				 				 	 	CPI OR 13	% 	 	
	66	 		 		  		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 	
	67	 	20	 	07-0978	  	SUPPLEMENTAL 27	 	WEST SIDE OF TANG	 	 	3/1/2008	  	 	 	108,051	  	 	$	0.1525	  	 	 	$0.1525	  	 	 	$1,373.15	  	 	$	16,477.78	  	 	$	0.1525	  	 	$	1,373.15	  	 	$	16,477.78	  	 	 	CPI OR 13	% 	 	$	0.1662	  	 	$	1,496.32	  	 	$	17,955.83	  	 	$	0.1662	  	 	$	1,496.32	  	 	$	17,955.83	  	 				 				 				 	 	CPI OR 13	% 	 	
	68	 		 		  		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 	
	69	 	21	 	07-0979	  	SUPPLEMENTAL 7	 	DEMOCRAT VEHICLE PARKING	 	 	1/1/2007	  	 	 	1,812,363	  	 	$	0.1525	  	 	 	$0.1906	  	 	 	$28,786.37	  	 	$	345,436.39	  	 	$	0.1906	  	 	$	28,786.37	  	 	$	345,436.39	  	 	 	CPI OR 13	% 	 	$	0.2077	  	 	$	31,368.50	  	 	$	376,422.03	  	 	$	0.2077	  	 	$	31,368.50	  	 	$	376,422.03	  	 				 				 				 	 	CPI OR 13	% 	 	
	70	 	22	 	07-0980	  	SUPPLEMENTAL 9	 	DEMOCRAT VEHICLE PARKING	 	 	1/1/2007	  	 	 	491,127	  	 	$	0.1525	  	 	 	$0.1906	  	 	 	$7,800.73	  	 	$	93,608.81	  	 	$	0.1906	  	 	$	7,800.73	  	 	$	93,608.81	  	 	 	CPI OR 13	% 	 	$	0.2077	  	 	$	8,500.46	  	 	$	102,005.52	  	 	 	$0.2077	  	 	$	8,500.46	  	 	$	102,005.52	  	 				 				 				 	 	CPI OR 13	% 	 	
	71	 		 		  		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 	
	72	 	23	 	07-0981	  	N/A	 	TAXIWAY SIERRA	 	 	2/1/2009	  	 	 	248,711	  	 	$	0.2400	  	 	 	$0.2400	  	 	 	$4,974.22	  	 	$	59,690.64	  	 	$	0.2400	  	 	$	4,974.22	  	 	$	59,690.64	  	 	 	CPI OR 13	% 	 	$	0.2615	  	 	$	5,420.41	  	 	$	65,044.89	  	 	$	0.2615	  	 	$	5,420.41	  	 	$	65,044.89	  	 				 				 				 	 	CPI OR 13	% 	 	
	73	 		 		  		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 	
	74	 	24	 	07-0982	  	N/A	 	SORT FACILITY	 	 	9/1/2009	 (5) 	 	 	292,000	  	 	$	1.2600	  	 	 	$1.2600	  	 	 	$30,660.00	  	 	$	367,920.00	  	 	$	1.2600	  	 	$	30,660.00	  	 	$	367,920.00	  	 	 	CPI OR 13	% 	 	$	1.3730	  	 	$	33,410.20	  	 	$	400,922.42	  	 	$	1.3730	  	 	$	33,410.20	  	 	$	400,922.42	  	 				 				 				 	 	CPI OR 13	% 	 	
	75	 		 		  		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 	
	76	 	25	 	07-0983	  	N/A	 	DEMOCRAT PARKING AREA	 	 	12/15/11 	(8) 	 	 	36,128	  	 	$	0.1906	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	$	0.1906	  	 	$	573.83	  	 	$	6,885.99	  	 	 	CPI OR 13	% 	 	$	0.2077	  	 	 	$625.31	  	 	$	7,503.67	  	 	$	0.2077	  	 	$	625.31	  	 	$	7,503.67	  	 				 				 				 	 	CPI OR 13	% 	 	
	77	 	26	 	07-0985	  	N/A	 	CORPORATE AVIATION HANGAR (BUILDING)	 	 	7/1/2014	  	 	 	35,070	  	 	$	1.4238	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	CPI OR 13	% 	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	$	1.4238	  	 	$	4,161.06	  	 	$	49,932.67	  	 				 				 				 	 	CPI OR 13	% 	 	
	78	 		 		  		 	CORPORATE AVIATION HANGAR (LAND)	 	 	7/1/2014	  	 	 	161,334	  	 	$	0.0000	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 				 				 				 	 	N/A	  	 	
	79	 	27	 	07-0984	  	N/A	 	HANGAR 11 (BUILDING)	 	 	7/1/2014	  	 	 	58,265	  	 	$	1.4238	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	CPI OR 13	% 	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	$	1.4238	  	 	$	6,913.14	  	 	$	82,957.71	  	 				 				 				 	 	CPI OR 13	% 	 	
	80	 		 		  	N/A	 	HANGAR 12 (BUILDING)	 	 	7/1/2014	  	 	 	117,306	  	 	$	1.4238	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	CPI OR 13	% 	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	$	1.4238	  	 	$	13,918.36	  	 	$	167,020.28	  	 				 				 				 	 	CPI OR 13	% 	 	
	81	 		 		  		 	HANGARS 11 AND 12 (LAND)	 	 	7/1/2014	  	 	 	1,290,083	  	 	$	0.0000	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 				 				 				 	 	N/A	  	 	
	82	 	28	 	07-0986	  	N/A	 	EAST GSE RAMP	 	 	7/1/2014 	(10) 	 	 	1,000,681	  	 	$	0.1741	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	CPI OR 13	% 	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	$	0.1741	  	 	$	14,518.21	  	 	$	174,218.56	  	 				 				 				 	 	CPI OR 13	% 	 	
	83	 	29	 		  	N/A	 	COLD CHAIN STORAGE (PARKING)	 	 	4/1/2016 	(11) 	 	 	29,174	  	 	$	0.2077	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 	 	N/A	  	 				 				 				 	$	0.2077	  	 	$	504.95	  	 	$	6,059.44	  	 	 	CPI OR 13	% 	 	
	84	 		 		  		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 	
	85	 	 Note 1:
	 		  		 		 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 				 	
	86	 	 (a) Hangar 26 has been removed from Parcel 2 and, effective July 1, 2009, rent
for Parcel 2 has been reduced by $1,322.50 per month, $15,870.00 per year.
	   
	 				 				 				 				 				 	 	Totals	  	 	$	781,847.02	  	 	$	9,382,164.23	  	 				 	$	819,394.03	  	 	$	9,832,728.33	  	 	 	Totals	  	 	$	819,898.98	  	 	$	9,838,787.77	  	 				 	
	87	 	 (b) As of December 14, 2010, the date of Tenant’s beneficial occupancy of
the Replacement Hangar, as defined in the Third Amendment to the Composite Lease Agreement, the annual rent will be reduced by $44,246.00 ($3,687.17 monthly). The rent rate for the 35,000 square foot Replacement Hangar will be
$0.1906.
	   
	 				 				 				 				 				 				 				 				 				 				 				 	

			
	88	 	 (c) As of December 14, 2010, the date of Tenant’s benefical occupancy of renovated
Hangars 24, 25 and 27, the combined annual rent for these Hangars will be reduced by $23,458.05 (30% of $78,193.49).

	89	 	 Note 2: In accordance with the Second Amendment to the Composite Lease Agreement, Parcel 10
will not be part of the demised premises between May 1, 2010, and December 31, 2011, and no rent will be payable with respect to that Parcel during that time period.

  

																																																							
		 		 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	Exhibit A
		 		 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	April 1, 2016
		 		 		 				 				 		 		 		 	1	 		 		 		 		 		 		 		 	Seventh Amendment to Composite Lease Agreement
																										
	 	 	 A
	 	 B
	 	C	 	 	D	 	 	 F
	 	 G
	 	H	 	P	 	Q	 	R	 	S	 	T	 	U	 	V	 	W	 	X	 	Y	 	Z	 	AA	 	AB	 	AC	 	AD	 	AE	 	AF	 	AG
	1	 	EXHIBIT A to the Composite Lease Agreement as amended by the Sixth Amendment dated July 1, 2014	 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	2	 		 		 				 				 		 		 		 		 		 		 		 		 		 		 		 	
	3	 	 	 	 FEDEX
	 	 	 	 	 	 	 	 	 	 	 	EFFECTIVE	 	2011	 	2012	 	2013	 	2014	 	2015-17	 	2018
	4	 	 PARCEL
	 	 LEASE
	 	 	 	 	 	 	 	 EFFECTIVE
	 	 SQUARE
	 	DATE	 	EFFECTIVE
DECEMBER 2011	 	EFFECTIVE SEPTEMBER 2012	 	EFFECTIVE July 1, 2013	 	 	 	EFFECTIVE July 1, 2014	 	Effective April 1, 2015-
December 31, 2017	 	EFFECTIVE July 1,
2018
	5	 	 NUMBER
	 	 NUMBER
	 	SUPPLEMENTAL	 	 	USE
OR LOCATION	 	 	 DATE
	 	 FEET
	 	RATE	 	RATES	 	MONTHLY	 	ANNUAL	 	RATES	 	MONTHLY	 	ANNUAL	 	ESCALATION
(3)	 	RATES	 	MONTHLY	 	ANNUAL	 	RATES	 	MONTHLY	 	ANNUAL	 	RATES	 	MONTHLY	 	ANNUAL	 	ESCALATION
(3)	 	 
	90	 	Note 3: Refer to Section 2.03(a)(i) of the Composite Lease Agreement for a further description of the rent adjustment summarized in this column.	 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	91	 	Note 4: The Effective Date is subject to the operation and effect of Section 1.04(b) of the Composite Lease Agreement. When the Effective Date occurs, the rent for Parcel 18A will be calculated based upon a
rental rate of $1.26 per square foot of building footprint area.	 		 		 		 	
	92	 	Note 5: The Effective Date is subject to the operation and effect of Section 1.04(b) of the Composite Lease Agreement. When the Effective Date occurs, the rent for Parcel 24 will be calculated based upon a rental rate of
$1.26 per square foot of building footprint area.	 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	93	 	Note 6: For Parcels 6, 7, and 8, the monthly rent for each is an amount previously agreed upon by the Parties, and is not calculated on any applicable current rate.	 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	94	 	Note 7: Section 2.03(a)(i) of the Composite Lease Agreement will govern the escalation of the rent for Parcel 6 beginning July 1, 2018.	 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	95	 	Note 8: In accordance with the terms of the 4th Amendment to the Composite Lease, rent for Parcel 25 began to accrue March 1, 2012 at the rate of $0.1906	 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	96	 	Note 9: In accordance with the terms of the 5th Amendment to the Composite Lease, rent for the unimproved property that the 5th Amendment adds to Parcels 2 and 3 will begin to accrue on November 1, 2013 at
the July 1, 2013 rental rate for unimproved property. (See Notes 3 and 7)	 		 		 		 		 		 		 		 		 		 		 		 		 	
	97	 	Note 10: Rate agreed upon by the parties and as defined in the 6th Amendment to the Composite Lease	 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	98	 	Note 11: Parcel 29 adds the lot used for Cold Chain Storage Parking effective April 1, 2015 and should be added.	 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	99	 	RATE & RATE ESCALATION	 	CURRENT RATES	 	 	7/1/2013	  	 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	100	 	IMPROVED GROUND	 		 	$	0.2383	  	 	$	0.2597	  	 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	101	 		 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	102	 	UNIMPROVED GROUND	 		 	$	0.1906	  	 	$	0.2077	  	 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	103	 		 		 				 				 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
	104

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}]]