Document:

EX-10.3

 Exhibit 10.3 

INFORMATION IN THIS EXHIBIT IDENTIFIED BY BRACKETS IS CONFIDENTIAL AND HAS BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10)(IV) OF REGULATION S-K BECAUSE IT (I)
IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO FEDEX IF PUBLICLY DISCLOSED. 
  

							
	
AMENDMENT OF SOLICITATION/MODIFICATION OF CONTRACT
	 	1. CONTRACT ID CODE  	 	PAGE  	 	OF
	 	 	 	  

    1    
	 	  

    2    

									
	
2. AMENDMENT/MODIFICATION NO.
 179
	 	 3. EFFECTIVE DATE  

06/01/2020
	 	4. REQUISITION/PURCHASE REQ. NO.    	 	5. PROJECT NO. (If applicable)
	6. ISSUED
BY                                         
     CODE  	 	5ACAAQ	 	7. ADMINISTERED BY (IF OTHER THAN ITEM 6)	 	CODE  	 	5ACAAQ
	 JESSICA J. STRINGER

Cargo Air Acquisitions
 Air Transportation CMC

United States Postal Service
 475 L’Enfant Plaza SW, Room
1P650
 Washington DC 20260-0650
 (202) 268-5527  

 
	 	 Cargo Air Acquisitions

Air Transportation CMC
 United States Postal Service

475 L’Enfant Plaza SW, Room 1P650
 Washington DC
20260-0650

											
	8. NAME AND ADDRESS OF CONTRACTOR (No., Street, County, 
State, and Zip Code)	 	 	 	    (x)      	 	9A. AMENDMENT OF SOLICITATION NO.
	  
 FEDERAL EXPRESS
CORPORATION
	 		 		 		 	 	 	 
	 3610 HACKS CROSS ROAD

MEMPHIS TN 38125-8800
	 		 		 		 	 	 	 9B. DATED (SEE ITEM 11)

 

	 	 	 

    
	 	      x      

 
	 	 10A. MODIFICATION OF CONTRACT/ORDER NO.

ACN-13-FX
  

	 	 	 	 	 	 	 	 		 	10B. DATED (SEE ITEM 13)
	SUPPLIER CODE:       000389122	 	FACILITY CODE                	 	 	 	 	 	04/23/2013
	11. THIS ITEM ONLY APPLIES TO AMENDMENTS OF
SOLICITATIONS     

					
	☐  The above numbered Solicitation is amended as set forth in Item 14. The hour and date 
specified for receipt of Offers	 		  	    ☐  is extended,        ☐  is not 
extended.

													
	  
 Offers must acknowledge receipt of this amendment prior to
the hour and date specified in the solicitation or as amended, by one of the following methods: (a) By completing items 8 and 15, and returning                 
copies of the amendment; (b) By acknowledging receipt of this amendment on each copy of the offer submitted; or (c) By separate letter or telegram which includes a reference to the solicitation and amendment number. FAILURE OF YOUR ACKNOWLEDGEMENT
TO BE RECEIVED AT THE PLACE DESIGNATED FOR THE RECEIPT OF OFFERS PRIOR TO THE HOUR AND DATE SPECIFIED MAY RESULT IN REJECTION OF YOUR OFFER. If by virtue of this amendment you desire to change an offer already submitted, such change may be made by
telegram or letter, provided each telegram or letter makes reference to the solicitation and this amendment, and is received prior to the opening hour and date specified.

 

					
	 12. ACCOUNTING AND
APPROPRIATION DATA (If required.)
 See Schedule
	 	
Net Decrease:            [*]
	  	 

			
	 13. THIS ITEM APPLIES ONLY TO
MODIFICATIONS OF CONTRACTS/ORDERS. IT MODIFIES THE CONTRACT/ORDER NO. AS DESCRIBED IN ITEM 14.
  
	 	 

									
	(x)  	 	 A. THIS CHANGE BY CLAUSE IS ISSUED PURSUANT TO: (Specify clause) THE CHANGES SET
FORTH IN ITEM 14 ARE MADE IN THE CONTRACT ORDER NO. IN ITEM 10A.
	 		 	 
	☐  	 		 	    	 		 	 
	  

☐  
	 	 B. THE ABOVE
NUMBERED CONTRACT/ORDER IS MODIFIED TO REFLECT THE ADMINISTRATIVE CHANGES (such as changes in paying office, appropriation date, etc.) SET FORTH IN ITEM 14.

 
	 	 	 	 
	  

☐  
	 	 C. THIS SUPPLEMENTAL AGREEMENT IS ENTERED
INTO PURSUANT TO THE AUTHORITY OF: THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN THE CONTRACT ORDER NO. IN ITEM 10A.
  
	 	 	 	 
	☒  	 	 D. OTHER (such as no cost
change/cancellation, termination, etc.) (Specify type of modification and authority): THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN THE CONTRACT ORDER NO. IN ITEM 10A.

Mutual Agreement of the Contracting Parties
  
	 	 	 	 

			
	  

E. IMPORTANT: Contractor      ☐    is
not,      ☒    is required to sign this document and return         1     copies to the
issuing office.
  
	 	 
	 14. DESCRIPTION OF AMENDMENT/MODIFICATION (Organized by UCF section headings,
including solicitation/contract subject matter where feasible.)
  
 In accordance with
contract ACN-13-FX and the “Fuel Adjustment” section, the following Line Haul Rate (fuel) for the Day Network as set out in Attachment 10 is modified for performance during the period of June 1, 2020 to June 28, 2020 (Operating Period 81)
as follows:
  
 TIERS: Base – Tier 5

From:
 [*] per cubic foot

To:
 [*] per cubic foot

This is a decrease of [*].
 Continued...
	 	 

			
	 Except as provided herein, all terms and conditions of the document referenced in
Item 9A or 10A, as heretofore changed, remains unchanged and in full force and effect.
  
	 	 

											
	 15A. NAME AND TITLE OF SIGNER (Type or print)

 
     Ron D. Stevens, Vice President
                                         
               
	 	 16A. NAME
AND TITLE OF CONTRACTING OFFICER (Type or print)
  
     Brian
Mckain

	 15B. CONTRACTOR/OFFEROR

 
 /s/ RON D. STEVENS

(Signature of person authorized to sign) 
	 	 	 	 15C. DATE SIGNED  

 
 7-7-20
	 	 16B. CONTRACT AUTHORITY
  

/s/ BRIAN MCKAIN

(Signature of Contracting Officer) 
	 	 	 	 16C. DATE SIGNED

 
 7-7-20

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

															
	 CONTINUATION SHEET
	 	REQUISITION NO.	 	 Page

 
 2
	 	     Of

 
     2
	 	                
  

															
	 CONTRACT/ORDER NO.
  

ACN-13-FX/179
	 	 AWARD/ EFFECTIVE DATE  

06/01/2020
	 	MASTER/AGENCY CONTRACT NO    	 	SOLICITATION NO.	 	 SOLICITATION         ISSUE DATE

											
	 	 	 	 	 	 
	
    ITEM NO     
	 	 SCHEDULE OF SUPPLIES/SERVICES

 
	 	 QUANTITY 

 
	 	  UNIT 

 
	 	
    UNIT PRICE    

 
	 	 AMOUNT

 

	  

 
  
 1

 
  
	 	  

TIERS: 6 - 8
 TIER 6:

From:
 [*] per cubic foot

To:
 [*] per cubic foot

This is a decrease of [*].
  

TIER 7:
 From:

[*] per cubic foot
 To:

[*] per cubic foot
 This is a decrease of [*].

 
 TIER 8:

From:
 [*] per cubic foot

To:
 [*] per cubic foot

This is a decrease of [*].
  

[*]
  

—
 Sub Rept Req’d: Y Carrier Code: FX Route Termini S:
Various Route Termini End: Various Payment Terms: SEE CONTRACT
 Discount Terms:
  

See Schedule
  

Accounting Info:
 BFN: 670167

Period of Performance: 09/30/2013 to 09/29/2024
  

Change Item 1 to read as follows:
  

Day Network
  

Account Number: 53503
  

This is for estimation purposes only and is not a guarantee of contract value.
  

Omitted Attachment
  

An attachment to this exhibit regarding volume information has been omitted pursuant to Item 601(a)(5) of Regulation S-K because the information contained
therein is not material and is not otherwise publicly disclosed. FedEx will furnish supplementally a copy of the attachment to the Securities and Exchange Commission or its staff upon request.

 
     

 
	 	 	 	 	 	 	 	  
  

 
 [*]
  

 

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.EX-10.4

 Exhibit 10.4 

INFORMATION IN THIS EXHIBIT IDENTIFIED BY BRACKETS IS CONFIDENTIAL AND HAS BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10)(IV) OF REGULATION S-K BECAUSE IT (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO FEDEX IF PUBLICLY DISCLOSED. 
  

 
 Supplemental Agreement No. 15 

to 
 Purchase Agreement
No. 3712 
 between 
 The
Boeing Company 
 And 
 Federal
Express Corporation 
 Relating to Boeing Model 767-3S2F Aircraft 

THIS SUPPLEMENTAL AGREEMENT No. 15 (SA-15), entered into as of June 25, 2020
by and between THE BOEING COMPANY (Boeing) and FEDERAL EXPRESS CORPORATION (Customer); 
 W I T N
E S S E T H: 
 A.        WHEREAS, the parties entered
into Purchase Agreement No. 3712, dated December 14, 2011 (Purchase Agreement), relating to the purchase and sale of certain Boeing Model 767- 3S2F Aircraft (Aircraft); and 

B.        WHEREAS, Customer desires to defer the delivery month of eleven (11) Aircraft (SA-15 Rescheduled Aircraft), as set forth in the tables below: 
  

															
	 Aircraft
Block
	  	MSN1	 	  	Table	  	Existing
Delivery Month
of Aircraft	 	 	Revised
Delivery Month
of Aircraft	 
	 E
	  	 	63126	 	  	1-A2	  	 	[	*] 	 	 	[	*] 
	 F
	  	 	63135	 	  	1-A2	  	 	[	*] 	 	 	[	*] 
	 G
	  	 	63140	 	  	1-A2	  	 	[	*] 	 	 	[	*] 
	 G
	  	 	63141	 	  	1-A2	  	 	[	*] 	 	 	[	*] 
	 F
	  	 	63130	 	  	1-A2	  	 	[	*] 	 	 	[	*] 
	 F
	  	 	63132	 	  	1-A2	  	 	[	*] 	 	 	[	*] 
	 F
	  	 	63133	 	  	1-A2	  	 	[	*] 	 	 	[	*] 

  

	1 	 Manufacture Serial Number(s) (MSNs) identified are for informational purposes only and subject to change.

  
 BOEING PROPRIETARY

 SA15–1 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 Supplemental Agreement No.15 to 

Purchase Agreement No. 3712 
  

															
	 Aircraft
Block
	  	MSN2	 	  	Table	  	Existing
Delivery Month
of Aircraft	 	 	Revised
Delivery Month
of Aircraft	 
	 C
	  	 	66247	 	  	1-B	  	 	[	*] 	 	 	[	*] 
	 C
	  	 	66869	 	  	1-B	  	 	[	*] 	 	 	[	*] 
	 C
	  	 	66865	 	  	1-B	  	 	[	*] 	 	 	[	*] 
	 C
	  	 	66866	 	  	1-B	  	 	[	*] 	 	 	[	*] 

 C.        WHEREAS, Customer desires defer the delivery month of fifty
(50) Option Aircraft (SA-15 Rescheduled Option Aircraft), as set forth in the tables below: 
  

									
	 Attachment Number
 to Letter
Agreement

FED-PA-03712-LA-1106156R5;

 Option Aircraft
	  	Existing
Delivery Month of
Option Aircraft	 	 	Revised
Delivery Month of
Option Aircraft	 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 

  

	2 	 Manufacture Serial Number(s) (MSNs) identified are for informational purposes only and subject to change.

  
 BOEING PROPRIETARY

 SA15–2 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 Supplemental Agreement No.15 to 

Purchase Agreement No. 3712 
  

									
	 Attachment Number
 to Letter
Agreement

FED-PA-03712-LA-1106156R5;

 Option Aircraft
	  	Existing
Delivery Month of
Option Aircraft	 	 	Revised
Delivery Month of
Option Aircraft	 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 
	 Attachment 1
	  	 	[	*] 	 	 	[	*] 

  

									
	 Attachment Number
 to Letter
Agreement

FED-PA-03712-LA-1106156R5;

 Option Aircraft
	  	Existing
Delivery Month of
Option Aircraft	 	 	Revised
Delivery Month of
Option Aircraft	 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 
	 Attachment 2
	  	 	[	*] 	 	 	[	*] 

  
 BOEING PROPRIETARY

 SA15–3 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 Supplemental Agreement No.15 to 

Purchase Agreement No. 3712 
  

D.        WHEREAS, Customer and Boeing desire to acknowledge that three (3) Block G Aircraft, each
became a firm Block G Aircraft on the Determination Date (Firm Block G Aircraft) set forth in the table below, and in accordance with the terms of Letter Agreement 6-1162-SCR-146R2, Special Provision – Block B and Block G Aircraft; 
  

																			
	 Aircraft
Block
	  	MSN3	 	  	Table	  	Determination
Date	 	 	Existing
Delivery Month
of Aircraft	 	 	Revised
Delivery Month
of Aircraft	 
	 G
	  	 	63141	 	  	1-A2	  	 	[	*] 	 	 	[	*] 	 	 	[	*] 
	 G
	  	 	63142	 	  	1-A2	  	 	[	*] 	 	 	[	*] 	 	 	[	*] 
	 G
	  	 	63143	 	  	1-A2	  	 	[	*] 	 	 	[	*] 	 	 	[	*] 

 E.        WHEREAS, Customer desires to have a right to purchase
certain Option Aircraft [*], provided that [*]; 
 F.        WHEREAS, Customer desires to the right
to purchase certain Purchase Right Aircraft [*]; 
 G.        WHEREAS, Customer and Boeing desire to
[*]; 
 H.        WHEREAS, Customer and Boeing desire to document previously agreed upon changes to
the 767 Detail Specification with executed option proposals (Option Proposals) for such changes (Unincorporated Changes); 

I.        WHEREAS, Customer and Boeing desire to update a reference in the Purchase Agreement to
reflect the correct revision number; 
  

	3 	 Manufacture Serial Number(s) (MSNs) identified are for informational purposes only and subject to change.

  
 BOEING PROPRIETARY

 SA15–4 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 Supplemental Agreement No.15 to 

Purchase Agreement No. 3712 
  

J.        WHEREAS, Boeing desires provide special business considerations to Customer related to the
two (2) rescheduled Aircraft set forth in the table below (SA-15 Block G Rescheduled Aircraft): 
  

															
	 Aircraft
Block
	  	MSN4	 	  	Table	  	Existing
Delivery Month
of Aircraft	 	 	Revised
Delivery Month
of Aircraft	 
	 G
	  	 	63140	 	  	1-A2	  	 	[	*] 	 	 	[	*] 
	 G
	  	 	63141	 	  	1-A2	  	 	[	*] 	 	 	[	*] 

 K.        WHEREAS, Customer and Boeing agree to document that the
considerations contained in SA-15 are [*]. 
 NOW THEREFORE, in consideration of the mutual
covenants herein contained, the parties hereto agree to supplement the Purchase Agreement as follows: 
 All terms used herein and in the
Purchase Agreement, and not defined herein, shall have the same meaning as in the Purchase Agreement. 

1.        Remove and replace, in its entirety, the Table of Contents with the revised Table of
Contents attached hereto, to reflect the changes made by this SA-15. 

2.        Revise and replace in its entirety, Table 1-A2 with
a revised Table 1-A2, attached hereto, to (i) reflect the revised delivery date, [*], [*], and [*] resulting from the reschedule of each SA-15 Rescheduled Aircraft,
as described in Recital Paragraph B above; and (ii) confirm the nature of three (3) Firm Block G Aircraft as firm, as described in Recital Paragraph D above. 

3.        Revise and replace in its entirety, Table 1-B with a
revised Table 1-B, attached hereto, revised to reflect the revised delivery date, [*], [*], and [*] resulting from the reschedule of the SA-15 Rescheduled Aircraft, as
described in Recital Paragraph B above. 
  

	4 	 Manufacture Serial Number(s) (MSNs) identified are for informational purposes only and subject to change.

  
 BOEING PROPRIETARY

 SA15–5 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 Supplemental Agreement No.15 to 

Purchase Agreement No. 3712 
  

4.        Revise and replace in its entirety Letter Agreement FED-PA-03712-LA-1106156R4, Option Aircraft, with Letter Agreement FED-PA-03712-LA-1106156R5, Option Aircraft, attached hereto, to (i) reflect that in the event [*], as described in Recital Paragraph E above, Customer may
exercise its right to purchase certain Option Aircraft [*]; and (ii) remove the reference to Letter Agreement
FED-PA-3712-LA-2000391, [*], dated January 30, 2020, as it is no longer applicable
to the Option Aircraft. 
 5.        Revise and replace in its entirety Attachment 1 to Letter
Agreement FED-PA-03712-LA-1106156R4, Option Aircraft, with Attachment 1 to Letter
Agreement FED-PA-03712-LA-1106156R5, Option Aircraft, attached hereto, to reflect
the revised delivery date, [*], [*], and [*] resulting from the reschedule of each SA-15 Rescheduled Option Aircraft, as described in Recital Paragraph C above. 

6.        Revise and replace in its entirety Attachment 2 to Letter Agreement FED-PA-03712-LA-1106156R4, Option Aircraft, with Attachment 2 to Letter Agreement FED-PA-03712-LA-1106156R5, Option Aircraft, attached hereto, to reflect the revised
delivery date, [*], [*], and [*] resulting from the reschedule of each SA-15 Rescheduled Option Aircraft, as described in Recital Paragraph C above. 

7.        Revise and replace in its entirety Attachment 3 to Letter Agreement FED-PA-03712-LA-1106156R4, Option Aircraft, with Attachment 3 to Letter Agreement FED-PA-03712-LA-1106156R5, Option Aircraft, attached hereto, to reflect (i) the
revised delivery date for each of the SA-15 Rescheduled Aircraft, as described in Recital Paragraph B above; and (ii) the revised delivery date of each SA-15
Rescheduled Option Aircraft, as described in Recital Paragraph C above. 
 8.        Revise and
replace in its entirety Attachment 4 to Letter Agreement FED-PA-03712-LA-1106156R4,
Option Aircraft, with Attachment 4 to Letter Agreement FED-PA-03712-LA-1106156R5,
Option Aircraft, attached hereto, to reflect (i) the revised delivery date for each of the SA-15 Rescheduled Aircraft, as described in Recital Paragraph B above; and (ii) the revised delivery
date of each SA-15 Rescheduled Option Aircraft, as described in Recital Paragraph C above. 

9.        Revise and replace in its entirety Letter Agreement FED-PA-03712-LA-1106158R5, Right to Purchase Additional Aircraft, with Letter Agreement FED-PA-03712-LA-1106158R6, Right to Purchase Additional Aircraft, attached hereto, to reflect that, in the event [*], as
described in Recital Paragraph F above, Customer has the right to purchase certain Purchase Right Aircraft [*]. 

  
 BOEING PROPRIETARY

 SA15–6 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 Supplemental Agreement No.15 to 

Purchase Agreement No. 3712 
  

10.        Revise and replace in its entirety Letter Agreement FED-PA-03712-LA-1106151R2, Special Matters Concerning [*] – Option Aircraft and Certain Purchase Right
Aircraft, with Letter Agreement FED-PA-03712-LA-1106151R3, Special Matters
Concerning [*] – Option Aircraft and Certain Purchase Right Aircraft, attached hereto, to [*], as described in Recital Paragraph G above. 

11.        Revise and replace in its entirety Letter Agreement FED-PA-03712-LA-1208292R2, Special Matters Concerning [*] – Block B, Block C, Block E, Block F and Block G Aircraft,
with Letter Agreement FED-PA-03712-LA-1208292R3, Special Matters Concerning [*] –
Block B, Block C, Block E, Block F and Block G Aircraft, attached hereto, to [*], as described in Recital Paragraph G above. 

12.        Revise and replace in its entirety Letter Agreement FED-PA-03712-LA-2000793, SA-14 Rescheduled Aircraft Delivery Matters, with Letter
Agreement FED-PA-03712-LA-2000793R1, SA-14
Rescheduled Aircraft Delivery Matters, attached hereto, to update the reference to Letter Agreement
FED-PA-03712-LA-1106154R2, as described in Recital Paragraph I above. 

13.        Add Letter Agreement FED-PA-03712-LA-2002413, SA-15 Block G Rescheduled Aircraft—Additional Considerations, attached hereto, to
reflect additional business considerations to be provided to Customer related to the SA-15 Block G Rescheduled Aircraft, as described in Recital Paragraph I above. 

14.        Revise and replace in its entirety Letter Agreement FED-PA-3712-MISC-1907644, Special Considerations related to [*], with Letter Agreement FED-PA-3712-MISC-1907644R1,
Special Considerations related to [*], attached hereto, to revise [*] impacted by the rescheduling of SA-15 Rescheduled Aircraft. 

15.        Add Letter Agreement FED-PA-03712-LA-2002433, SA-15 Considerations and [*], attached hereto, to document that the considerations contained in SA-15 are [*], as described in Recital Paragraph K above. 

16.        This SA-15 will not be effective until executed and
delivered by the parties on or prior to June 30, 2020. 
 17.        As a result of the changes
incorporated in this SA- 15, [*]. The foregoing results in an [*] (SA-15 Payment Amount). The SA-15 Payment Amount will be
due to Boeing no later than June 30, 2020. 

  
 BOEING PROPRIETARY

 SA15–7 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 Supplemental Agreement No.15 to 

Purchase Agreement No. 3712 
  

18.        References in the Purchase Agreement, any supplemental agreements and associated letter
agreements to the tables, exhibits, supplemental exhibits and letter agreements listed in the left column of the below table shall be deemed to refer to the corresponding tables, exhibits, supplemental exhibits and letter agreements listed in the
right column of the below table. 
  

			
	 Reference
	  	Replacement Reference
	
FED-PA-03712-LA-1106156R4
	  	FED-PA-03712-LA-1106156R5
	
FED-PA-03712-LA-1106158R5
	  	FED-PA-03712-LA-1106158R6
	
FED-PA-03712-LA-2000793
	  	FED-PA-03712-LA-2000793R1
	
FED-PA-03712-LA-1106151R2
	  	FED-PA-03712-LA-1106151R3
	
FED-PA-03712-LA-1208292R2
	  	FED-PA-03712-LA-1208292R3
	
FED-PA-3712-MISC-1907644
	  	FED-PA-3712-MISC-1907644R1

 EXECUTED as of the day and year first above written. 

 

									
	FEDERAL EXPRESS CORPORATION	 		 		 	THE BOEING COMPANY
					
	By:	 	 /s/ Kevin A. Burkhart
	 		 	By:	 	 /s/ Cheryl Khera

					
	Name:	 	 Kevin A. Burkhart
	 		 	Name:	 	 Cheryl Khera

					
	Title:	 	 Vice President
	 		 	Title:	 	
Attorney-In-Fact

  
 BOEING PROPRIETARY

 SA15–8 

 TABLE OF CONTENTS 

 

							
	 ARTICLES
	  		  	SA Number
		 	1	  	 Quantity, Model and Description
	  	
				
		 	2	  	 Delivery Schedule
	  	
				
		 	3	  	 Price
	  	
				
		 	4	  	 Payment
	  	
				
		 	5	  	 Additional Terms
	  	
			
	 TABLES
	  		  	
		 	1-A	  	 Firm Aircraft Information Table
	  	10
				
		 	1-A1	  	 Block B and Block C Aircraft Information Table
	  	13
				
		 	1-A2	  	 Block E, Block F and Block G Aircraft Information Table
	  	15
				
		 	1-B	  	 Exercised Option Aircraft Information Table
	  	15
				
		 	1-B1	  	 Exercised Block D Option Aircraft Information Table
	  	  2
				
		 	1-C	  	 Exercised Purchase Right Aircraft Information Table
	  	  2
			
	 EXHIBIT
	  		  	
		 	A	  	 Aircraft Configuration
	  	  4
				
		 	B	  	 Aircraft Delivery Requirements and Responsibilities
	  	
		
	 SUPPLEMENTAL EXHIBITS
	  	
		 	AE1	  	 Escalation Adjustment/Airframe and Optional Features
	  	
				
		 	BFE1	  	 BFE Variables
	  	  2
				
		 	CS1	  	 Customer Support Variables
	  	
				
		 	EE1	  	 Engine Escalation, Engine Warranty and Patent Indemnity
	  	
				
		 	SLP1	  	 Service Life Policy Components
	  	

  

					
	FED-PA-03712	 		 	SA-15
		 	BOEING PROPRIETARY	 	

					
	LETTER AGREEMENTS	  	 SA

Number

			
	LA-1106151R2	  	 LA-Special Matters Concerning [*] –
Option
	  	
			
	 	  	Aircraft and Certain Purchase Right Aircraft	  	615
			
	LA-1106152	  	 LA-Special Matters Concerning [*] – Firm
Aircraft
	  	
			
	LA-1106153	  	 LA-Liquidated Damages
Non-Excusable Delay
	  	
			
	LA-1106154R2	  	 LA-Firm Aircraft and Option Aircraft Delivery
Matters
	  	    6
			
	LA-1106155	  	 LA-Open Configuration Matters
	  	
			
	LA-1106156R5 	  	 LA-Option Aircraft
	  	  15
			
	 	  	Attachment 1 to LA-1106156R5 	  	  15
			
	 	  	Attachment 2 to LA-1106156R5 	  	  15
			
	 	  	Attachment 3 to LA-1106156R5 	  	  15
			
	 	  	Attachment 4 to LA-1106156R5 	  	  15
			
	LA-1106157	  	 AGTA Amended Articles
	  	
			
	LA-1106158R6	  	 LA-Right to Purchase Additional Aircraft
	  	  15
			
	LA-1106159R1	  	 LA-Special Matters Concerning [*]
	  	    1
			
	LA-1106160	  	 LA-Spare Parts Initial Provisioning
	  	
			
	LA-1106163	  	 LA-Demonstration Flight Waiver
	  	
			
	LA-1106177R1	  	 LA-[*]
	  	    6
			
	LA-1106207R1	  	 LA-Special Matters Firm Aircraft
	  	    1
			
	LA-1106208R2	  	 LA-Special Matters Option Aircraft
	  	    1
			
	LA-1106574R1	  	 LA-Agreement for Deviation from the [*]
	  	    6
			
	LA-1106584R4	  	 LA-Aircraft Performance Guarantees
	  	    6
			
	LA-1106586	  	 LA-Miscellaneous Matters
	  	
			
	LA-1106614R4	  	 LA-Special Matters for Purchase Right Aircraft
	  	  12
			
	LA-1106824	  	 LA-Customer Support Matters
	  	
			
	LA-1208292R3	  	 LA-Special Matters Concerning [*] – Block B, Block
C, Block E, Block F and Block G Aircraft
	  	  15
			
	LA-1208296R1	  	 LA-Special Matters for Block D Option Aircraft
	  	    6
			
	LA-1208949R1	  	 LA-Special Matters for Aircraft in Table 1-A1
	  	  11
			
	6-1162-SCR-146R2	  	 LA Special Provision – Block B and Block G Aircraft
	  	  11
			
	LA-1306854R1	  	 Performance Guarantees, Demonstrated Compliance
	  	    6
			
	6-1162-LKJ-0696R6	  	 LA-[*]
	  	    6
			
	6-1162-LKJ-0705	  	 LA-Special Matters for Block E, Block F and Block G
Aircraft in Table 1-A2
	  	
			
	6-1162-LKJ-0707	  	 LA- Agreement Regarding [*]
	  	    6

  

					
	FED-PA-03712	 		 	SA-15
		 	BOEING PROPRIETARY	 	

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

					
			
	6-1162-LKJ-0709	  	 LA-[*] Special Matters
	  	    6
			
	6-1162-LKJ-0728	  	 LA-Special Matters – SA-8 Early Exercise
Aircraft
	  	    8
			
	6-1162-LKJ-0744	  	 LA-Special Considerations – SA-10 Accelerated
Aircraft
	  	  10
			
	6-1169-LKJ-0773	  	 LA-Special Matters – SA-11
	  	  11
			
	LA-2000793R1	  	 LA-SA-14
Rescheduled Aircraft Delivery Matters
	  	  15
			
	LA-1902775R1	  	 LA- 767 Unincorporated Changes
	  	  15
			
	LA-2002413	  	 LA-SA-15
Block G Rescheduled Aircraft –Additional Considerations
	  	  15
			
	LA-1907644R1	  	 LA-Special Considerations related to
[*]
	  	  15
			
	LA-2002433	  	 SA-15 Considerations and [*]
	  	  15

  

					
	FED-PA-03712	 		 	SA-15
		 	BOEING PROPRIETARY	 	

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	 SUPPLEMENTAL AGREEMENTS
	  	 DATED AS OF:

		
	 Supplemental Agreement No. 1
	  	June 29, 2012
		
	 Supplemental Agreement No. 2
	  	October 8, 2012
		
	 Supplemental Agreement No. 3
	  	December 11, 2012
		
	 Supplemental Agreement No. 4
	  	December 10, 2013
		
	 Supplemental Agreement No. 5
	  	September 29, 2014
		
	 Supplemental Agreement No. 6
	  	July 21, 2015
		
	 Supplemental Agreement No. 7
	  	April 18, 2016
		
	 Supplemental Agreement No. 8
	  	June 10, 2016
		
	 Supplemental Agreement No. 9
	  	February 16, 2017
		
	 Supplemental Agreement No. 10
	  	May 10, 2017
		
	 Supplemental Agreement No. 11
	  	June 18, 2018
		
	 Supplemental Agreement No. 12
	  	June 24, 2019
		
	 Supplemental Agreement No. 13
	  	September 4, 2019
		
	 Supplemental Agreement No. 14
	  	February 28, 2020
		
	 Supplemental Agreement No. 15
	  	, 2020

  

					
	FED-PA-03712	 		 	SA-15
		 	BOEING PROPRIETARY	 	

			
	

	 	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207        

 
  

FED-PA-03712-LA-1106158
R6 
 Federal Express Corporation 

3610 Hacks Cross 
 Memphis, TN 38125 

 

	Subject:	 Right to Purchase Additional Aircraft 

 

	Reference:	 Purchase Agreement No. 3712 (Purchase Agreement) between The Boeing Company (Boeing) and
Federal Express Corporation (Customer) relating to Model 767-3S2F aircraft (Aircraft) 

This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. In addition, this Letter Agreement cancels and
supersedes FED-PA-03712- LA-1106158R5 in its entirety. All terms used but not defined in this Letter Agreement
shall have the same meaning as in the Purchase Agreement. 
  

	1.	 Right to Purchase Incremental Aircraft. 

Subject to the terms and conditions contained herein, Customer will have the right to purchase (Purchase Right) thirty-two (32) additional Boeing Model 767-3S2F aircraft as purchase right aircraft (Purchase Right Aircraft). 

 

	2.	 Delivery. 

2.1    The Purchase Right Aircraft delivery positions are [*]. 

2.2    The parties agree that [*]. In order for Customer to exercise Purchase Right Aircraft [*]. 

 

	3.	 Configuration. 

The configuration for the Purchase Right Aircraft will be the Detail Specification for Model 767-3S2F
aircraft at the revision level in effect at the time of the Supplemental Agreement. Such Detail Specification will be revised to include (i) changes required to obtain required regulatory certificates and (ii) other changes as mutually
agreed upon by Boeing and Customer. 

  

					
	
FED-PA-03712-LA-1106158
R6
 Right to Purchase Additional Aircraft
	 		 	 SA-15

Page 1

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	

  

	4.	 Price. 

4.1    The Airframe Price, Engine Price, Optional Features Prices, and Aircraft Basic Price for the Purchase Right Aircraft
shall remain in base year [*] and such prices will be subject to escalation to the scheduled delivery date of the Purchase Right Aircraft. 

4.2    Subject to the provisions of Letter Agreement FED-PA-03712-LA- 1106151R3 “Special Matters Concerning [*] – Option Aircraft and Certain Purchase Right Aircraft”, the Airframe
Price, Engine Price, Optional Features Prices, and Aircraft Basic Price for each of the Purchase Right Aircraft will be adjusted for escalation in accordance with the Purchase Agreement. 

4.3    The Advance Payment Base Price for each exercised Purchase Right Aircraft shall be developed in accordance with the
terms of the Purchase Agreement and determined at the time of Supplemental Agreement. 
  

	5.	 Payment. 

At Supplemental Agreement for the Purchase Right Aircraft, advance payments will be payable as specified in the Purchase Agreement. The
remainder of the Aircraft Price for the Purchase Right Aircraft will be paid at the time of delivery. 
  

	6.	 Notice of Exercise and Payment of Deposit. 

6.1    Customer may exercise a Purchase Right by giving written notice (Notice of Exercise) to Boeing.
All Purchase Right aircraft must be exercised for delivery no later than [*]. Such Notice of Exercise shall be accompanied by payment, by electronic transfer to the account specified below, in accordance with the Purchase Agreement. Such amount will
be the initial advance payment due at execution of the Supplemental Agreement. 
 [*] 

6.2    The parties agree that Purchase Right Aircraft, once exercised, will be added to Table 1-C of the Purchase Agreement. 
 6.3    The parties agree that [*]. 

 

	7.	 Supplemental Agreement. 

Following Customer’s exercise of a Purchase Right in accordance with the terms and conditions stated herein [*], the parties will sign a
supplemental agreement for the purchase of such Purchase Right Aircraft (Supplemental Agreement) within thirty (30) calendar days of such exercise (Purchase Right Exercise). The Supplemental Agreement will include the provisions
then contained in the Purchase Agreement as modified to reflect the provisions of this Letter Agreement and any additional mutually agreed terms and conditions. 

  

					
	
FED-PA-03712-LA-1106158
R6
 Right to Purchase Additional Aircraft
	 		 	 SA-15

Page 2

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	

  

	8.	 [*]. 

[*]. 
  

	9.	 General Expiration of Rights. 

Each Purchase Right shall expire at the time of execution of the Supplemental Agreement for the applicable Purchase Right Aircraft, or, if no
such Supplemental Agreement is executed, on [*]. 
  

	10.	 Confidential Treatment. 

Customer understands that Boeing considers certain commercial and financial information contained in this Letter Agreement as confidential.
Each of Customer and Boeing agree that it will treat this Letter Agreement and the information contained herein as confidential. Customer agrees to limit the disclosure of the contents of this Letter Agreement to employees of Customer with a need to
know and who understand that they are not to disclose its content to any other person or entity without the prior written consent of Boeing. Notwithstanding the foregoing, Customer may disclose this Letter Agreement and the terms and conditions
herein to its parent company, FedEx Corporation, to the Board of Directors of its parent corporation, FedEx Corporation, to its professional advisors under a duty of confidentiality with respect thereto, and as required by law. 

  

					
	
FED-PA-03712-LA-1106158
R6
 Right to Purchase Additional Aircraft
	 		 	 SA-15

Page 3

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	

  
 Very truly yours, 

 

			
	THE BOEING COMPANY
		
	By	 	/s/ Cheryl Khera
		
	Its	 	Attorney-In-Fact

 ACCEPTED AND AGREED TO this 
  

			
	Date:	 	June 25, 2020

  

			
	FEDERAL EXPRESS CORPORATION
		
	By	 	/s/ Kevin A. Burkhart
		
	Its	 	Vice President

  

					
	
FED-PA-03712-LA-1106158
R6
 Right to Purchase Additional Aircraft
	 		 	 SA-15

Page 4

 BOEING
PROPRIETARY 

			
	

	 	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207        

 
  

FED-PA-03712-LA-1106156R5 

Federal Express Corporation 
 3610 Hacks Cross 

Memphis, TN 38125 
  

	Subject:	 Option Aircraft 

  

	Reference:	 Purchase Agreement No. 3712 (Purchase Agreement) between The Boeing Company (Boeing) and
Federal Express Corporation (Customer) relating to Model 767-3S2F aircraft (Aircraft) 

This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. In addition, this Letter Agreement cancels and
supersedes FED-PA-03712-LA-1106156R4 in its entirety. All terms used but not defined in this Letter Agreement will have
the same meaning as in the Purchase Agreement. 
  

	1.	 Right to Purchase Option Aircraft. 

Subject to the terms and conditions contained in this Letter Agreement, Customer has the option to purchase thirty-five (35) additional
Model 767-3S2F aircraft as option aircraft (Option Aircraft) and fifteen (15) additional Model 767-3S2F aircraft as Block D option aircraft (Block D
Option Aircraft). Except as set forth herein, and in the Purchase Agreement, the Block D Option Aircraft are considered Option Aircraft. 
  

	2.	 Delivery. 

The number of Option Aircraft and associated delivery months are listed in the Attachment 1 to this Letter Agreement. The number of Block D
Option Aircraft and associated delivery months are listed in the Attachment 2 to this Letter Agreement. 
  

	3.	 Configuration. 

The configuration for the Option Aircraft will be the Detail Specification for model 767-3S2F aircraft
at the revision level in effect at the time of Supplemental Agreement. Such Detail Specification will be revised to include (i) changes required to obtain required regulatory certificates and (ii) other changes as mutually agreed upon by
Customer and Boeing. 
  

	4.	 Price. 

4 .1    The Airframe Price, Engine Price, Optional Features Prices, and Aircraft Basic Price for each of the Option
Aircraft will remain in base year [*] and such prices will be subject to escalation in accordance with the Purchase Agreement. 

4.2    Subject to the provisions of letter agreement FED-PA-03712-LA-1106151R3; Special Matters Concerning [*] – Option Aircraft and Certain 

  

					
	
FED-PA-03712-LA-1106156R5

Option Aircraft
	 		 	 SA-15

Page 1

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	

  
 
Purchase Right Aircraft, the Airframe Price, Engine Price, Optional Features Prices, and Aircraft Basic Price for each of the Option Aircraft will be adjusted for escalation in accordance
with the Purchase Agreement. 
 4.3    The Advance Payment Base Price for each exercised Option Aircraft will be
developed in accordance with the terms of the Purchase Agreement and determined at the time of Supplemental Agreement. 
  

	5.	 Payment. 

5.1    Customer will pay an option deposit to Boeing in the amount of [*] (Option Deposit) for each Option Aircraft
added to the Purchase Agreement. The parties acknowledge that Customer has previously paid an Option Deposit to Boeing in the amount of [*] for (i) each of the fifteen (15) Block D Option Aircraft in Attachment 2, and (ii) each of the
thirty-five (35) Option Aircraft in Attachment 1 prior to the execution of Supplemental Agreement No. 15 to the Purchase Agreement (SA-15). If Customer exercises an option, the
Option Deposit will be credited against the first advance payment due. 
 5.2    [*] 

5.3    For the sake of clarity, Customer and Boeing agreed to [*], pursuant to paragraph 2 of letter agreement 6-1162-LKJ-0707, Agreement Regarding [*], dated July 15, 2015. 

5.4    Following option exercise, advance payments will be payable as specified in the Purchase Agreement. The remainder
of the Aircraft Price for the Option Aircraft will be paid at the time of delivery. 
  

	6.	 Option Exercise. 

61.    Customer will exercise [*], by giving written notice to Boeing on or before the first business day of the month that
is [*] months prior to the month of delivery [*] (Option Exercise Date). [*] 

6.2    [*] 

6.2.1    [*] 

6.2.2    [*] 

6.2.3    [*] 

6.2.4    [*] 

6.2.5    [*] 

6.3    Boeing and Customer agree that Option Aircraft, once exercised, will be added to Table 1-B or Table 1-B1, as applicable, of the Purchase Agreement. 
  

	7.	 [*] 

For the avoidance of doubt, [*] as described in letter agreement FED-PA-03712-LA-1106154R2, Firm Aircraft and Option Aircraft Delivery Matters and
FED-PA-03712-LA-2000793R1, SA-14 Rescheduled Aircraft Delivery Matters.

  

					
	
FED-PA-03712-LA-1106156R5

Option Aircraft
	 		 	 SA-15

Page 2

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	

  

	8.	 [*] 

  

	9.	 [*]. 

  

	10.	 Supplemental Agreement. 

10.1    Following Customer’s exercise of an option the parties will sign a supplemental agreement for the purchase of
such Option Aircraft (Supplemental Agreement). The Supplemental Agreement will include the provisions of the Purchase Agreement as modified to reflect the provisions of this Letter Agreement. 

10.2    Boeing and Customer will use their commercially reasonable efforts to sign a Supplemental Agreement within thirty
(30) business days following the applicable Option Exercise Date. 

  

					
	 FED-PA-03712-LA-1106156R5
 Option
Aircraft
	 		 	 SA-15

Page 3

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	

  

	11.	 Confidential Treatment. 

Customer understands that Boeing considers certain commercial and financial information contained in this Letter Agreement as confidential.
Each of Customer and Boeing agree that it will treat this Letter Agreement and the information contained herein as confidential. Customer agrees to limit the disclosure of the contents of this Letter Agreement to employees of Customer with a need to
know and who understand that they are not to disclose its content to any other person or entity without the prior written consent of Boeing. Notwithstanding the foregoing, Customer may disclose this Letter Agreement and the terms and conditions
herein to its parent company, FedEx Corporation, to the Board of Directors of its parent corporation, FedEx Corporation, to its professional advisors under a duty of confidentiality with respect thereto, and as required by law. 

 

									
	ACCEPTED AND AGREED TO this	 		 		 	
					
	Date:	 	 June 25, 2020
	 		 		 	
				
	FEDERAL EXPRESS CORPORATION	 		 		 	THE BOEING COMPANY
					
	By:	 	 /s/ Kevin A. Burkhart
	 		 	By:	 	 /s/ Cheryl Khera

					
	Name:	 	 Kevin A. Burkhart
	 		 	Name:	 	 Cheryl Khera

					
	Title:	 	 Vice President
	 		 	Title:	 	
Attorney-In-Fact

 Attachments to Letter Agreement: 
  

	•	 	 Attachment 1: Option Aircraft Delivery, Description, Price and Advance Payments 

 

	•	 	 Attachment 2: Block D Option Aircraft Delivery, Description, Price and Advance Payments

  

	•	 	 Attachment 3: Production Cycle Option Schedule 

 

	•	 	 Attachment 4: Firm Aircraft and Option Aircraft Delivery Schedule by Customer Fiscal Year

  

					
	 FED-PA-03712-LA-1106156R5
 Option
Aircraft
	 		 	 SA-15

Page 4

 BOEING
PROPRIETARY 

			
	

	 	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207        

 
  

FED-PA-03712-LA-2000793
R1 
 Federal Express Corporation 

3610 Hacks Cross 
 Memphis, TN 38125 

 

	Subject:	 SA-14 Rescheduled Aircraft Delivery Matters 

 

	Reference:	 Purchase Agreement No. 3712 (Purchase Agreement) between The Boeing Company (Boeing) and
Federal Express Corporation (Customer) relating to Model 767-3S2F aircraft (Aircraft) 

This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. In addition, this Letter Agreement cancels
and supersedes FED-PA-03712-LA-2000793 in its entirety. All terms used but not
defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement. The information provided in this Letter Agreement will be applicable to the two (2) firm Aircraft identified in Table 1.2 to this Letter Agreement. 

 

	1.	 SA-14 Rescheduled Aircraft. 

1.1    For the avoidance of doubt, the two (2) firm Aircraft shown in Table 1.2 below (collectively, SA-14 Rescheduled Aircraft), shall be subject to letter agreement
FED-PA-03712-LA-1106154R3, Firm Aircraft and Option Aircraft Delivery
Matters. 
 Table 1.2: 
  

											
	 Aircraft Block
	  	MSN	 	  	Table	  	Revised Delivery Month of Aircraft,
incorporated with SA-14.	 
	 C
	  	 	66868	 	  	Table 1-B	  	 	[	*] 
	 F
	  	 	63134	 	  	Table 1-A2	  	 	[	*] 

  

	2.	 Additional Delivery Flexibility for the SA-14 Rescheduled
Aircraft. 

 2.1    In addition to the delivery flexibility described in letter agreement FED-PA-03712-LA-1106154R2, Firm Aircraft and Option Aircraft Delivery Matters,
Boeing and Customer further agree to the delivery flexibility for the two (2) SA-14 Rescheduled Aircraft as set forth below. 

2.2    Following notification from Customer to Boeing regarding [*] pursuant to letter agreement FED-PA-3712-LA-2000391, [*], Boeing reserves the right to [*] 

  

					
	
FED-PA-03712-LA-2000793
R1
 SA-14 Rescheduled Aircraft Delivery Matters
	 	 SA-15

Page 1

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	

  

	3.	 Supplemental Agreement. 

3.1    [*] 

3.2    Boeing and Customer agree that the revised Delivery Dates(s) of the SA-14
Rescheduled Aircraft will be reflected in Table 1-B or Table 1-A2, as applicable, of the Purchase Agreement. 

3.3    Boeing and Customer will use their commercially reasonable efforts to sign a Supplemental Agreement within thirty
(30) business days following the applicable Option Exercise Date. 
  

	4.	 Confidential Treatment. 

Customer understands that Boeing considers certain commercial and financial information contained in this Letter Agreement as confidential.
Each of Customer and Boeing agree that it will treat this Letter Agreement and the information contained herein as confidential. Customer agrees to limit the disclosure of the contents of this Letter Agreement to employees of Customer with a need to
know and who understand that they are not to disclose its content to any other person or entity without the prior written consent of Boeing. Notwithstanding the foregoing, Customer may disclose this Letter Agreement and the terms and conditions
herein to its parent company, FedEx Corporation, to the Board of Directors of its parent corporation, FedEx Corporation, to its professional advisors under a duty of confidentiality with respect thereto, and as required by law. 

  

					
	
FED-PA-03712-LA-2000793
R1
 SA-14 Rescheduled Aircraft Delivery Matters
	 	 SA-15

Page 2

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	

  

									
	ACCEPTED AND AGREED TO this	 		 		 	
					
	Date:	 	 June 25, 2020
	 		 		 	
				
	FEDERAL EXPRESS CORPORATION	 		 		 	THE BOEING COMPANY
					
	By:	 	 /s/ Kevin A. Burkhart
	 		 	By:	 	 /s/ Cheryl Khera

					
	Name:	 	 Kevin A. Burkhart
	 		 	Name:	 	 Cheryl Khera

					
	Title:	 	 Vice President
	 		 	Title:	 	
Attorney-In-Fact

  

					
	
FED-PA-03712-LA-2000793
R1
 SA-14 Rescheduled Aircraft Delivery Matters
	 	 SA-15

Page 3

 BOEING
PROPRIETARY 

			
	

	 	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207        

 
  

FED-PA-03712-LA-2002413
 
 Federal Express Corporation 
 3610
Hacks Cross Road 
 Memphis, TN 38125 
  

	Subject:	 SA-15 Block G Rescheduled Aircraft—Additional Considerations

  

	Reference:	 (a) Purchase Agreement No. PA-3712 (Purchase Agreement)
between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to Model 767-3S2F aircraft (Aircraft) 

This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in this Letter
Agreement have the same meaning as in the Purchase Agreement. 
  

	1.	 SA-15 Block G Rescheduled Aircraft 

1.1    For the purposes of this Letter Agreement, the following business considerations will apply only to the two
(2) firm Aircraft identified in Table 1.2 below (collectively, SA-15 Block G Rescheduled Aircraft). 

Table 1.2: 
  

																	
	 Aircraft

Block
	  	MSN1	 	  	Table	 	  	Existing Delivery
Month
of Aircraft	 	  	Revised Delivery
Month of
Aircraft	 
	 G
	  	 	63140	 	  	 	1-A2	 	  	 	[*	] 	  	 	[*	] 
	 G
	  	 	63141	 	  	 	1-A2	 	  	 	[*	] 	  	 	[*	] 

 The parties agree and acknowledge that the revisions to the delivery months of
SA-15 Block G Rescheduled Aircraft outlined in Table 1.2 are due to [*]. In consideration of the revisions to the scheduled delivery outlined in Table 1.2, and in recognition of the parties’ long-standing
relationship, Boeing will provide to Customer the business considerations outlined in this Letter Agreement. 
  

	1 	 Manufacture Serial Number(s) (MSNs) identified are for informational purposes only and subject to change.

  

					
	 FED-PA-03712-LA-2002413
 SA-15 Block
G Rescheduled Aircraft—Additional Considerations
	 	 SA-15

Page 1

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  

	2.	 SA-15 Block G Rescheduling Credit Memorandum.

 In order to neutralize the effect escalation of the rescheduled delivery of the
SA-15 Block G Rescheduled Aircraft, at the time of each delivery Boeing shall issue a credit memorandum equivalent to the difference between the Escalation Adjustment calculated using the existing delivery
months for the SA-15 Block G Rescheduled Aircraft in Table 1.2 and the Escalation Adjustment using the revised delivery months outlined in Table 1.2 (SA-15 Block G
Rescheduling Credit Memorandum). 
  

	3.	 Escalation of Credit Memorandum. 

Unless otherwise noted, the SA-15 Block G Rescheduling Credit Memorandum is in [*] base year dollars
and will be escalated to the same time period as the Airframe pursuant to the Airframe Escalation formula set forth in the Purchase Agreement applicable to the SA-15 Block G Rescheduled Aircraft. The Credit
Memoranda may, at the election of Customer, [*]. 
  

	4.	 Assignment. 

Unless otherwise noted herein, the SA-15 Block G Rescheduling Credit Memorandum described in this
Letter Agreement is provided as a financial accommodation to Customer and in consideration of Customer’s taking title to the SA-15 Block G Rescheduled Aircraft at time of delivery and becoming the
operator of the Aircraft. This Letter Agreement cannot be assigned, in whole or in part, without the prior written consent of Boeing, which will not be unreasonably withheld. 
  

	5.	 Confidential Treatment. 

Customer understands that Boeing considers certain commercial and financial information contained in this Letter Agreement as confidential.
Each of Customer and Boeing agree that it will treat this Letter Agreement and the information contained herein as confidential. Customer agrees to limit the disclosure of the contents of this Letter Agreement to employees of Customer with a need to
know and who understand that they are not to disclose its content to any other person or entity without the prior written consent of Boeing. Notwithstanding the foregoing, Customer may disclose this Letter Agreement and the terms and conditions
herein to its parent company, FedEx Corporation, to the Board of Directors of its parent corporation, FedEx Corporation, to its professional advisors under a duty of confidentiality with respect thereto, and as required by law. 

  

					
	 FED-PA-03712-LA-2002413
 SA-15 Block
G Rescheduled Aircraft—Additional Considerations
	 	 SA-15

Page 2

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  
 Very truly yours, 

 

			
	THE BOEING COMPANY
		
	By	 	 /s/ Cheryl Khera

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	 June 25, 2020

	
	FEDERAL EXPRESS CORPORATION
		
	By	 	 /s/ Kevin A. Burkhart

		
	Its	 	 Vice President

  

					
	 FED-PA-03712-LA-2002413
 SA-15 Block
G Rescheduled Aircraft—Additional Considerations
	 	 SA-15

Page 3

 BOEING
PROPRIETARY 

			
	

	 	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207        

 
  

FED-PA-03712-LA-1106151
R3 
 Federal Express Corporation 

3610 Hacks Cross 
 Memphis, TN 38125 

 

	Subject:	 Special Matters Concerning [*] – Option Aircraft and Certain Purchase Right Aircraft

  

	Reference:	 Purchase Agreement No. 3712 (Purchase Agreement) between The Boeing Company (Boeing) and
Federal Express Corporation (Customer) relating to Model 767-3S2F aircraft (Aircraft) 

This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. In addition, this Letter Agreement cancels and
supersedes Letter Agreement FED-PA-03712-LA-1106151R2 in its entirety. All
terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement. The terms provided in this Letter Agreement will be applicable to exercised Option Aircraft, as identified in the Table 1-B and Table 1-B1 of the Purchase Agreement (Exercised Option Aircraft) and Purchase Right Aircraft, as identified in Table 1-C
that are exercised and scheduled for delivery to Customer through [*] (Applicable Purchase Right Aircraft). 
  

	1.	 [*] 

1.1    Boeing will [*] for the Airframe Price and Optional Features Prices of each Exercised Option Aircraft and Applicable
Purchase Right Aircraft for the period beginning [*] and continuing through [*], in accordance with the terms of this Letter Agreement. 

1.2    Notwithstanding the [*], in the event Boeing reschedules an Exercised Option Aircraft delivery outside the [*]
pursuant to the delivery flexibility described in Letter Agreement Option Aircraft
(FED-PA-03712-LA-1106156R2) Boeing agrees that the [*] will extend to apply to such
rescheduled Exercised Option Aircraft. 
 1.3    For the avoidance of doubt, in the event of an Excusable Delay or Non-Excusable Delay of an Exercised Option Aircraft or Applicable Purchase Right Aircraft, Boeing and Customer acknowledge that the [*] to the contracted delivery month will be applied to such Exercised Option
Aircraft or Applicable Purchase Right Aircraft. 

  

					
	 FED-PA-03712-LA-1106151R3

Special Matters Concerning [*] –
 Option Aircraft and Certain
Purchase Right Aircraft
	 	 SA-15

Page 1

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  
 1.4    If Boeing
and Customer mutually agree to reschedule an Exercised Option Aircraft or Applicable Purchase Right Aircraft within the [*], the affected Exercised Option Aircraft or Applicable Purchase Right Aircraft will continue to receive the [*] described
herein, [*] to the rescheduled delivery month. 
 1.5    The [*] for the Airframe Price and Optional Features Price of
each Exercised Option Aircraft and Applicable Purchase Right Aircraft will be [*] during the [*] at a [*]. 
  

	2.	 Determining [*] for Aircraft Delivering Within the [*]. 

2.1    For Exercised Option Aircraft and Applicable Purchase Right Aircraft delivering within the [*], Boeing will, at time
of Exercised Option Aircraft or Applicable Purchase Right Aircraft delivery, calculate the [*] of the Airframe Price and Optional Features Price using (i) [*] in accordance with the provisions of [*] to the Purchase Agreement ([*]) and (ii) the
[*]. The final Aircraft Price will include the [*] Airframe Price and Optional Features Price utilizing the [*] or the [*], except as set forth below. 

2.2    Notwithstanding paragraph 2.1 above, if [*] calculated pursuant to the [*], Customer will [*] on the Airframe Price
and Optional Features Price [*] on the applicable Exercised Option Aircraft or Applicable Purchase Right Aircraft; or 

2.3    If [*] calculated pursuant to the [*], Customer will [*] on the Airframe Price and Optional Features Price [*] on
the applicable Exercised Option Aircraft or Applicable Purchase Right Aircraft. At least [*] of an Exercised Option Aircraft or Applicable Purchase Right Aircraft, but not [*] of a Exercised Option Aircraft or Applicable Purchase Right Aircraft,
Boeing will provide Customer notification in the event the [*]. 
 2.4    For an example of the determination of
escalation factor applicable to the Airframe and Optional Features, refer to Attachment C to this Letter Agreement. 

  

					
	 FED-PA-03712-LA-1106151R3

Special Matters Concerning [*] –
 Option Aircraft and Certain
Purchase Right Aircraft
	 	 SA-15

Page 2

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  

	3.	 Effect on Advance Payments. 

The amount and timing of advance payments Customer is required to pay to Boeing pursuant to the Purchase Agreement shall be unaffected by any
terms set forth in this Letter Agreement. 
  

	4.	 Aircraft Applicability. 

Unless otherwise stated, the terms of this Letter Agreement shall only apply to the Exercised Option Aircraft and Applicable Purchase Right
Aircraft. 
  

	5.	 Applicability to Other Financial Consideration. 

The escalation adjustment for any other sum identified in the Purchase Agreement as subject to escalation pursuant to Supplemental Exhibit AE1,
and which pertains to an Exercised Option Aircraft and Applicable Purchase Right Aircraft, shall be calculated using the escalation methodology established in this Letter Agreement notwithstanding any other provisions of the Purchase Agreement to
the contrary. 
  

	6.	 Confidential Treatment. 

Customer understands that Boeing considers certain commercial and financial information contained in this Letter Agreement as confidential.
Each of Customer and Boeing agree that it will treat this Letter Agreement and the information contained herein as confidential. Customer agrees to limit the disclosure of the contents of this Letter Agreement to employees of Customer with a need to
know and who understand that they are not to disclose its content to any other person or entity without the prior written consent of Boeing. Notwithstanding the foregoing, Customer may disclose this Letter Agreement and the terms and conditions
herein to its parent company, FedEx Corporation, to the Board of Directors of its parent corporation, FedEx Corporation, to its professional advisors under a duty of confidentiality with respect thereto, and as required by law. 

  

					
	 FED-PA-03712-LA-1106151R3

Special Matters Concerning [*] –
 Option Aircraft and Certain
Purchase Right Aircraft
	 	 SA-15

Page 3

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  
 Very truly yours, 

 

			
	THE BOEING COMPANY
		
	By	 	 /s/ Cheryl Khera

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	 June 25, 2020

	
	FEDERAL EXPRESS CORPORATION
		
	By	 	 /s/ Kevin A. Burkhart

		
	Its	 	 Vice President

 Attachments A, B and C 

  

					
	 FED-PA-03712-LA-1106151R3

Special Matters Concerning [*] –
 Option Aircraft and Certain
Purchase Right Aircraft
	 	 SA-15

Page 4

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207        

 
  

FED-PA-03712-LA-1208292
R3 
 Federal Express Corporation 

3610 Hacks Cross 
 Memphis, TN 38125 

 

	Subject:	 Special Matters Concerning [*] – Block B, Block C, Block E, Block F and Block G Aircraft

  

	Reference:	 Purchase Agreement No. 3712 (Purchase Agreement) between The Boeing Company (Boeing) and
Federal Express Corporation (Customer) relating to Model 767-3S2F aircraft (Aircraft) 

This letter agreement (Letter Agreement) cancels and supersedes Letter Agreement FED-PA-03712-LA-1208292R2 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 terms provided in this Letter Agreement will be applicable to Block B, Block C, Block E, Block F and Block G Aircraft. 

 

	1.	 [*]. 

1.1    Boeing will [*] for the Airframe Price and Optional Features Prices of each Block B, Block C, Block E, Block F and
Block G Aircraft for the period beginning [*] and continuing through [*], in accordance with the terms of this Letter Agreement. 

1.2    Notwithstanding the [*], in the event Boeing reschedules a Block B, Block C, Block E, Block F or Block G Aircraft
delivery outside the [*] pursuant to the delivery flexibility described in Letter Agreement Firm Aircraft Delivery Matters (FED-PA-03712-LA-1106154R2), Boeing agrees that the [*] will extend to apply to such rescheduled Block B, Block C, Block E, Block F or Block G Aircraft. 

1.3    For the avoidance of doubt, in the event of an Excusable Delay or
Non-Excusable Delay of a Block B, Block C, Block E, Block F or Block G Aircraft, Boeing and Customer acknowledge that the [*] to the contracted delivery month will be applied to such Block B, Block C, Block E,
Block F or Block G Aircraft. 

  

					
	 FED-PA-03712-LA-1208292R3

Special Matters Concerning [*] – Block B, Block C, Block E, Block F and Block G

Aircraft
	 	 SA-15

Page 1

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  
 1.4    If Boeing
and Customer mutually agree to reschedule a Block B, Block C, Block E, Block F or Block G Aircraft within the [*], the affected Block B, Block C, Block E, Block F or Block G Aircraft will continue to receive the [*] described herein, [*] to the
rescheduled delivery month. 
 1.5    The [*] for the Airframe Price and Optional Features Price of each Block B, Block
C, Block E, Block F and Block G Aircraft will be [*] during the [*] at a [*]. 
  

	2.	 Determining [*] for Block B, Block C, Block E, Block F and Block G Aircraft Delivering Within the [*].

 2.1    For Block B, Block C, Block E, Block F and Block G Aircraft delivering within the [*], Boeing
will, at time of Block B, Block C, Block E, Block F and Block G Aircraft delivery, calculate the [*] of the Airframe Price and Optional Features Price using (i) [*] in accordance with the provisions of [*] to the Purchase Agreement [*] and
(ii) the [*]. The final Block B, Block C, Block E, Block F and Block G Aircraft Price will include the [*] Airframe Price and Optional Features Price utilizing the [*] or the [*], except as set forth below. 

2.2    Notwithstanding paragraph 2.1 above, if [*] calculated pursuant to the [*], Customer will [*] on the Airframe Price
and Optional Features Price [*] on the applicable Block B, Block C, Block E, Block F and Block G Aircraft; or 

2.3    If [*] calculated pursuant to the [*], Customer will [*] on the Airframe Price and Optional Features Price [*] on
the applicable Block B, Block C, Block E, Block F and Block G Aircraft. At least [*] of a Block B, Block C, Block E, Block F or Block G Aircraft, but not [*] of a Block B, Block C, Block E, Block F or Block G Aircraft, Boeing will provide Customer
notification in the event the [*]. 
 2.4    For an example of the determination of escalation factor applicable to the
Airframe and Optional Features, refer to Attachment C to this Letter Agreement. 

  

					
	 FED-PA-03712-LA-1208292R3

Special Matters Concerning [*] – Block B, Block C, Block E, Block F and Block G

Aircraft
	 	 SA-15

Page 2

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  

	3.	 Effect on Advance Payments. 

The amount and timing of advance payments Customer is required to pay to Boeing pursuant to the Purchase Agreement shall be unaffected by any
terms set forth in this Letter Agreement. 
  

	4.	 Block B, Block C, Block E, Block F and Block G Aircraft Applicability.

 Unless otherwise stated, the terms of this Letter Agreement shall only apply to the Block B, Block C, Block E, Block F
and Block G Aircraft set forth in Tables 1-A1, 1-A2 and 1-B of the Purchase Agreement as of the execution date of this Letter
Agreement. 
  

	5.	 Applicability to Other Financial Consideration. 

The escalation adjustment for any other sum identified in the Purchase Agreement as subject to escalation pursuant to Supplemental Exhibit AE1,
and which pertains to Block B, Block C, Block E, Block F and Block G Aircraft set forth in Tables 1-A1, 1-A2 and 1-B as of the
date of this Letter Agreement, shall be calculated using the escalation methodology established in this Letter Agreement notwithstanding any other provisions of the Purchase Agreement to the contrary. 

 

	6.	 Confidential Treatment. 

Customer understands that Boeing considers certain commercial and financial information contained in this Letter Agreement as confidential.
Each of Customer and Boeing agree that it will treat this Letter Agreement and the information contained herein as confidential. Customer agrees to limit the disclosure of the contents of this Letter Agreement to employees of Customer with a need to
know and who understand that they are not to disclose its content to any other person or entity without the prior written consent of Boeing. Notwithstanding the foregoing, Customer may disclose this Letter Agreement and the terms and conditions
herein to its parent company, FedEx Corporation, to the Board of Directors of its parent corporation, FedEx Corporation, to its professional advisors under a duty of confidentiality with respect thereto, and as required by law. 

  

					
	 FED-PA-03712-LA-1208292R3

Special Matters Concerning [*] – Block B, Block C, Block E, Block F and Block G

Aircraft
	 	 SA-15

Page 3

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  
 Very truly yours, 

 

			
	THE BOEING COMPANY
		
	By	 	 /s/ Cheryl Khera

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	 June 25, 2020

	
	FEDERAL EXPRESS CORPORATION
		
	By	 	 /s/ Kevin A. Burkhart

		
	Its	 	 Vice President

 Attachments A, B and C 

  

					
	 FED-PA-03712-LA-1208292R3

Special Matters Concerning [*] – Block B, Block C, Block E, Block F and Block G

Aircraft
	 	 SA-15

Page 4

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207        

 

FED-PA-3712-MISC-1907644R1 

Federal Express Corporation 
 3131 Democrat Road 

Memphis, TN 38118 
  

	Attention:	 Mr. Guy See 

Managing Director – Aircraft Acquisitions & Sales 

 

	Subject:	 Special Considerations related to [*] 

 

	References:	 a)     Purchase Agreement 3712 between The Boeing Company (Boeing) and Federal
Express Corporation (Customer) dated December 14, 2011 relating to Model 767-3S2F Aircraft (767 Purchase Agreement) 

b)    Purchase Agreement 3715 between Boeing and Customer dated November 7, 2006 relating to Model 777-Freighter Aircraft (777 Purchase Agreement) 
 All terms used but not defined in this letter (Letter
Agreement) amends and supplements the 767 Purchase Agreement. In addition, this Letter Agreement cancels and supersedes FED-PA-3712-MISC-1907644 in its entirety.

  

	1.	 Background. 

  

	 	1.1	 [*]. 

  

	 	1.2	 [*]. 

  

	2.	 Agreement. 

  

	 	[*]	 

  

	 	2.1	 [*]. 

2.1.1 [*]. 

2.1.2 Customer will take delivery of the [*] 767 Aircraft and [*] 767 Aircraft on the dates tendered in accordance with
the 767 Purchase Agreement, and ferry these aircraft from Everett, Washington on their respective delivery dates. 

  

					
	 FED-PA-3712-MISC-1907644 R1
 Special
Considerations related to [*]
	 		 	 SA-15

Page 1

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	

  
 2.1.3 Upon transfer
of title to each of the [*] 767 Aircraft and [*] 767 Aircraft, Customer will have full custody and control of and responsibility for such Aircraft. If funds have not been paid to Boeing at the time of delivery of either of these Aircraft,
then Boeing will apply advance payments held by Boeing under the 777 Purchase Agreement to pay all amounts due to Boeing at delivery of such Aircraft ([*] Amounts). Customer will then pay to Boeing an amount equal to the [*] Amounts on or
before [*], to replenish the applied advance payments. 
 2.1.4 The approximate amount of funds to be paid to Boeing in [*]
is [*], inclusive of the [*] Amounts described in paragraph 2.1.3. Such amount will be finally determined based on the amounts due to Boeing at delivery of the [*] 767 Aircraft. 

2.1.5 [*]. Such amount will be finally determined based on the amounts due to Boeing at delivery of the [*] 767 Aircraft. 

2.1.6 [*]. 

2.1.7 Customer will make the [*] to Boeing on [*], which will be applied to the 777 Purchase Agreement to the extent advance
payments held by Boeing under the 777 Purchase Agreement were used to pay the [*]. [*]. 
 2.1.8 [*]. 

 

	 	2.2	 [*]. 

2.2.1 [*]. 

2.2.2 Customer will take delivery of the [*] 767 Aircraft on the dates tendered in accordance with the 767 Purchase Agreement,
and ferry these aircraft from Everett, Washington on their respective delivery dates. 
 2.2.3 Upon transfer of title to each
of the [*] 767 Aircraft, Customer will have full custody and control of and responsibility for such Aircraft. If funds have not been paid to Boeing at the time of delivery of either of these Aircraft, then Boeing will apply advance payments held by
Boeing under the 777 Purchase Agreement to pay all amounts due to Boeing at delivery of such Aircraft ([*] Amounts). Customer will then pay to Boeing an amount equal to the [*] Amounts on or before [*], to replenish the applied advance
payments. 
 2.2.4 The approximate amount of funds to be paid to Boeing in [*] is [*], inclusive of the [*] Amounts described
in paragraph 2.2.3. Such amount will be finally determined based on the amounts due to Boeing at delivery of the [*] 767 Aircraft. 

2.2.5 [*]. Such amount will be finally determined based on the amounts due to Boeing in [*]. 

  

					
	 FED-PA-3712-MISC-1907644R1
 Special
Considerations related to [*]
	 		 	 SA-15

Page 2

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

	
	

  
 2.2.6
[*]. 
 2.2.7 Customer will make the [*] to Boeing on [*], which will be applied to the 777 Purchase Agreement to the extent
advance payments held by Boeing under the 777 Purchase Agreement were used to pay the [*]. [*]. 
 2.2.8 [*]. 

2.3 [*]. 

[*]. 

2.3.1 [*]. 

2.3.2 [*]. 

2.3.3 [*]. 

2.3.4 [*]. 
  

	3.	 Confidentiality. 

Customer understands and agrees that the information contained herein represents confidential business information and has value precisely
because it is not available generally or to other parties. Customer agrees to limit the disclosure of its contents to employees of Customer with a need to know the contents for purposes of helping Customer perform its obligations under the reference
(a) and (b) purchase agreements and who understand they are not to disclose its contents to any other person or entity without the prior written consent of Boeing. 

  

					
	 FED-PA-3712-MISC-1907644R1
 Special
Considerations related to [*]
	 		 	 SA-15

Page 3

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	  	

  
 Very truly yours, 

 

			
	THE BOEING COMPANY
		
	By	 	/s/ Cheryl Khera
		
	Its	 	Attorney-In-Fact

 ACCEPTED AND AGREED TO this 
  

			
	Date:	 	June 25, 2020

 FEDERAL EXPRESS CORPORATION 
  

			
	By	 	/s/ Kevin A. Burkhart
		
	Its	 	Vice President

  

					
	 FED-PA-3712-MISC-1907644R1
 Special
Considerations related to [*]
	 		 	 SA-15

Page 4

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	

	 	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207        

 

FED-PA-3712-MISC-1902775R1 

Federal Express Corporation 
 3131 Democrat Road 

Memphis, TN 38118 
  

	Attention:	 Mr. Guy See 

Managing Director – Aircraft Acquisitions & Sales 

 

	Subject:	 Revisions to the Detailed Specification and Associated Unincorporated Change Pricing for 767-3S2F
Aircraft (Aircraft) 

  

	References:	 Purchase Agreement 3712 between The Boeing Company (Boeing) and Federal Express Corporation
(Customer) dated December 14, 2011 relating to Model 767-3S2F Aircraft (767 Purchase Agreement) 

All terms used but not defined in this letter (Letter Agreement) shall have the same meaning as in the referenced 767 Purchase Agreement. This
Letter Agreement cancels and supersedes FED-PA-3712-MISC-1902775 in its entirety. 
  

	1.	 Background. 

  

	 	1.1.	 The 767 Purchase Agreement sets forth the detailed specifications pursuant to which Boeing manufactures
Customer’s Aircraft. 

  

	 	1.2.	 Pursuant to Article 4, Detailed Specification Changes; of the AGTA, Boeing and Customer have agreed upon
certain changes to the 767 Detail Specification by executing an option proposal (Option Proposal) for such change (Unincorporated Change). The Option Proposal details the pricing (Unincorporated Change Price), effective date for
the Unincorporated Change, and applicable Aircraft by manufacturer serial number (MSN). 

  

	 	1.3.	 [*]. 

  

	2.	 Agreement. 

  

	 	2.1	 Boeing and Customer agree that [*]. 

 

	 	2.1.1	 [*]. 

  

	 	2.2	 [*]. 

  

					
	 FED-PA-3712-MISC-1902775R1

Follow-On Unincorporated Changes pricing for 767-3S2F Aircraftt
	 	 SA-15

Page 1

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

	
	

  

	3.	 Confidentiality. 

Customer understands and agrees that the information contained herein represents confidential business information and has value precisely
because it is not available generally or to other parties. Customer agrees to limit the disclosure of its contents to employees of Customer with a need to know the contents for purposes of helping Customer perform its obligations under the Purchase
Agreement and who understand they are not to disclose its contents to any other person or entity without the prior written consent of Boeing. 
 Very truly
yours, 
  

			
	THE BOEING COMPANY
		
	By	 	/s/ Cheryl Khera
		
	Its	 	Attorney-In-Fact

 ACCEPTED AND AGREED TO this 
  

			
	Date:	 	June 25, 2020

 FEDERAL EXPRESS CORPORATION 
  

			
	By	 	/s/ Kevin A. Burkhart
		
	Its	 	Vice President

  

					
	 FED-PA-3712-MISC-1902775R1

Follow-On Unincorporated Changes pricing for 767-3S2F Aircraftt
	 	 SA-15

Page 2

 BOEING
PROPRIETARY 

			
	

	 	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207        

 
 FED-PA-03712-LA-2002433 
 Federal Express Corporation 

3610 Hacks Cross Road 
 Memphis, TN 38125 

 

	Subject:	 SA-15 Considerations and [*] 

 

	References:	 (a)    Purchase Agreement No. 3712 (767 Purchase Agreement) between The Boeing
Company (Boeing) and (Customer) dated December 14, 2011 relating to Model 767-300F aircraft (767 Aircraft) 

(b)    Purchase Agreement No. 3157 (777 Purchase Agreement) between Boeing and Customer dated November 7,
2006 relating to Model 777F aircraft (777 Aircraft, and together with the 767 Aircraft collectively referred to as Aircraft throughout this letter) 

(c)    Aircraft General Terms Agreement No. AGTA-FED (AGTA) between Boeing
and Customer dated November 7, 2006 
 (d)    [*] 

This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in this Letter
Agreement have the same meaning as in the Purchase Agreement. 
  

	1.	 Background. 

  

	 	1.1	 Boeing provided Customer the reference (d) [*] which [*]. 

 

	 	1.2	 [*]. In response to Customer’s request, Boeing has agreed to defer certain Aircraft deliveries under the
terms of Supplemental Agreement No. 15 to the 767 Purchase Agreement (SA-15). 

  

	 	1.3	 Boeing has informed Customer that [*]. The parties understand that [*]. [*]. 

  

					
	 FED-PA-03712-LA-2002433
 SA-15 Considerations
and [*]
	 		 	 SA-15

Page 1

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

	
	

  

	2.	 [*]. 

Customer agrees that the considerations contained in SA-15 are [*]. 

 

	3.	 [*]. 

[*]. 
  

	4.	 Confidential Treatment. 

Customer understands that Boeing considers certain commercial and financial information contained in this Letter Agreement as confidential.
Each of Customer and Boeing agree that it will treat this Letter Agreement and the information contained herein as confidential. Customer agrees to limit the disclosure of the contents of this Letter Agreement to employees of Customer with a need to
know and who understand that they are not to disclose its content to any other person or entity without the prior written consent of Boeing. Notwithstanding the foregoing, Customer may disclose this Letter Agreement and the terms and conditions
herein to its parent company, FedEx Corporation, to the Board of Directors of its parent corporation, FedEx Corporation, to its professional advisors under a duty of confidentiality with respect thereto, and as required by law. 

  

					
	 FED-PA-03712-LA-2002433
 SA-15 Considerations
and [*]
	 		 	 SA-15

Page 2

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

	
	

  
 Very truly yours, 

 

			
	THE BOEING COMPANY
		
	By	 	/s/ Cheryl Khera
		
	Its	 	Attorney-In-Fact

ACCEPTED AND AGREED TO this 
  

			
	Date:	 	June 25, 2020

 FEDERAL EXPRESS CORPORATION 
  

			
	By	 	/s/ Kevin A. Burkhart
		
	Its	 	Vice President

 Omitted Attachments 

Certain attachments to this exhibit regarding delivery and pricing of certain B767F aircraft manufactured by The Boeing Company for FedEx have been omitted
pursuant to Item 601(a)(5) of Regulation S-K because the information contained therein is not material and is not otherwise publicly disclosed. FedEx will furnish supplementally copies of these attachments to
the Securities and Exchange Commission or its staff upon request. 

  

					
	 FED-PA-03712-LA-2002433
 SA-15 Considerations
and [*]
	 		 	 SA-15

Page 3

 BOEING
PROPRIETARY 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.

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