Document:

al_Ex_10_127

		
			Exhibit 10.127
		

		
			Air Lease Corporation
		

		
			Non-Employee Director Compensation
		

		
			(Since January 1, 2017)
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Retainers

					
					
						 

				
	
					
						Annual Board Retainer:

					$
80,000
				
	
					
						 

					
					
						 

				
	
					
						Committee Member Retainer:

					
					
						 

				
	
					
						Audit

					$
15,000
				
	
					
						Compensation

					$
10,000
				
	
					
						Nominating and Corporate Governance

					$
10,000
				
	
					
						 

					
					
						 

				
	
					
						Additional Committee Chair Retainer:

					
					
						 

				
	
					
						Audit

					$
20,000
				
	
					
						Compensation

					$
10,000
				
	
					
						Nominating and Corporate Governance

					$
10,000
				
	
					
						 

					
					
						 

				
	
					
						Lead Director Retainer:

					$
50,000
				

		
			 
		

		
			Non-employee directors receive annual retainer fees quarterly on the date of the Board Meeting in the applicable quarter, paid in cash.
		

		
			Non-employee directors may be paid conditional meeting fees if there are periods of unexpected and increased participation required by the non-employee directors, and a per diem fee in certain circumstances. A non-employee director will receive a meeting fee of $1,500 per meeting (i) if he or she attends a number of Board meetings in excess of the number of scheduled meetings plus two additional Board meetings during the applicable calendar year or (ii) if he or she attends during the applicable year a number of meetings of a committee on which he or she serves, in excess of the number of scheduled meetings plus two additional meetings of that committee for that year.
		

		
			Non-employee directors may be paid a per diem fee of $2,500 for non-ordinary course Board or committee activity (excluding any educational events) subject to the approval of the Board of Directors, the Chairman of the Board or the Lead Director of the Board.
		

		
			As a matter of policy, a non-employee director may elect to receive all or a portion of the cash compensation in the form of outright shares of the Company’s Class A Common Stock.   The number of outright shares issued in lieu of cash compensation is determined by dividing the cash compensation by, the fair market value of a share of the Company’s Class A Common Stock on the date of grant (rounded down to the next whole share) based on the closing price on the date of grant. Outright
		

		
			
		

		
			

		 

 

		

		
			shares issued in lieu of Board cash compensation are issued as of the same date as the quarterly cash payment is made.
		

		
			Non-Employee Director Equity Program Annual Equity Grant:  An annual grant of Restricted Stock Units (“Annual Director Grant”)  is to be made each year on the date of the Annual Meeting of Stockholders, with a value of $120,000.
		

		
			 
		

		
			Alternatively, annually a non-employee director may elect to defer the receipt of the shares of his or her vested Annual Director Grant beyond the one-year vesting period. Directors may elect to defer receipt of his or her shares until separation from service or alternatively, may elect a deferral period of 5 years or 10 years from the date of grant, provided that shares will be distributed upon a separation from service, a change of control or at death, if earlier than the elected deferral date. Deferred RSUs receive dividend equivalent rights which are reinvested in additional RSUs based on the market price of the Company’s Class A Common Stock on the date the dividends are paid.
		

		
			Initial Equity Grant:  For a non-employee director who becomes a member of the Board of Directors on or after the date of grant of the Annual Equity Grant, a grant of Restricted Stock Units (“Initial Director Grant”) is to be made on the date of the first meeting of the Board of Directors which is held when the new director is a member of the Board, with a value of $180,000.  A new director will then be eligible to receive an Annual Equity Grant in the calendar year after the year when the director joins the Board.
		

		
			Terms of Annual Grant and Initial Grant Director Restricted Stock Units
		

		
			The number of Restricted Stock Units is determined by dividing the value of the grant by the closing price of Air Lease Corporation Class A Common Stock on the date of grant (rounded down to the next whole share).  The restricted stock units will vest in full on the first anniversary of the date of grant, unless the director terminates service prior to such date. If termination of service is in connection with a change of control before the first anniversary date of the grant date, the Restricted Stock Unit will vest in full upon such termination of service.    If the Board service of a non-employee director terminates for any reason other than a change in control, the Restricted Stock Units will vest on a prorated daily basis according to the number of days between the grant date and termination of service divided by 365.  Each RSU entitles a director to receive on the vesting date one share of the Company’s Class A Common Stock unless a director elects to defer the receipt of the shares beyond the vesting date as described above.
		

		
			Other Arrangements 
		

		
			Non-employee directors are reimbursed for travel and lodging expenses incurred in connection with their attendance at meetings. The Company enters into agreements with non-employee directors to provide them with indemnification and advancement of expenses to supplement that provided under the Company’s certificate of incorporation and bylaws, subject to certain requirements and limitations.al_Ex_10_22

		
			Exhibit 10.22
		

		
			 
		

		
			Execution Version
		

		
			 
		

		
			NEW LENDER SUPPLEMENT
		

		
			 
		

		
			SUPPLEMENT, dated as of February 4, 2019, to the Second Amended and Restated Credit Agreement, dated as of May 5, 2014, as amended by the First Amendment dated as of June 1, 2015, by the Second Amendment dated as of May 27, 2016, by the Third Amendment dated as of May 2, 2017, by the Fourth Amendment dated as of May 2, 2018, and as further amended, supplemented or otherwise modified from time to time (the “Credit Agreement”) among AIR LEASE CORPORATION, a Delaware corporation (the “Borrower”), the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”), and JPMORGAN CHASE BANK, N.A., as administrative agent (the “Administrative Agent”).
		

		
			 
		

		
			W I T N E S S E T H:
		

		
			 
		

		
			WHEREAS, the Credit Agreement provides in Section 2.1(c) thereof that any bank, financial institution or other entity may become a party to the Credit Agreement with the consent of the Borrower and the Administrative Agent (which consent of the Administrative Agent shall not be unreasonably withheld) by executing and delivering to the Borrower and the Administrative Agent a supplement to the Credit Agreement in substantially the form of this Supplement; and
		

		
			 
		

		
			WHEREAS, the undersigned now desires to become a party to the Credit Agreement;
		

		
			 
		

		
			NOW, THEREFORE, the undersigned hereby agrees as follows:
		

		
			 
		

		
			1.  The undersigned agrees to be bound by the provisions of the Credit Agreement, and agrees that it shall, on the date this Supplement is accepted by the Borrower and the Administrative Agent (or on such other date as may be agreed upon among the undersigned, the Borrower and the Administrative Agent), become a Lender for all purposes of the Credit Agreement to the same extent as if originally a party thereto, with a Commitment of $75,000,000.
		

		
			 
		

		
			2.  The undersigned (a) represents and warrants that it is legally authorized to enter into this Supplement; (b) confirms that it has received a copy of the Credit Agreement, together with copies of the financial statements most recently delivered pursuant to Sections 6.1(a) and (b) thereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Supplement; (c) agrees that it has made and will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement or any instrument or document furnished pursuant hereto or thereto; (d) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement or any instrument or document furnished pursuant hereto or thereto as are delegated to the Administrative Agent by the terms thereof, together with such powers as are incidental thereto; and (e) agrees that it will be bound by the provisions of the Credit Agreement and will perform in accordance with its terms all the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender including, without limitation, if it is organized under the laws of a jurisdiction outside the United States, its obligation pursuant to Section 2.15(e) of the Credit Agreement.
		

		
			 
		

		
			3.  The undersigned hereby confirms and agrees that the Termination Date in respect of its Commitment is May 5, 2022.
		

		
			 
		

		
			4.  The address for notices for the undersigned for the purposes of the Credit Agreement is as follows:
		

		
			 
		

		
			
		

		
			

		 

 

		

		
			 
		

		
			OCBC Bank
		

		
			801 S. FIGUEROA STREET, SUITE 970
		

		
			LOS ANGELES, CA 90017
		

		
			Attention: Randall Mitchell
		

		
			Telephone: 212-624-1189 Ext. 111
		

		
			Email: RandallMitchell@ocbc.com
		

		
			 
		

		
			5.  Terms defined in the Credit Agreement shall have their defined meanings when used herein.
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			 
		

		
			IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by a duly authorized officer on the date first above written.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						OVERSEA-CHINESE BANKING
CORPORATION LIMITED

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Charles Ong

				
	
					
						 

					
					
						 

					
					
						Name:

					
					
						Charles Ong

				
	
					
						 

					
					
						 

					
					
						Title:

					
					
						General Manager

				

		
			 
		

		
			
		

		
			

		 

		

			[Signature Page to OCBC New Lender Supplement]

		

 

		

		
			 
		

			
					
						Accepted and agreed to as of

					
					
						 

				
	
					
						the date first written above:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						AIR LEASE CORPORATION

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Gregory B. Willis

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Gregory B. Willis

					
					
						 

				
	
					
						 

					
					
						Title:

					
					
						Executive Vice President and Chief Financial Officer

					
					
						 

				

		
			
		

		
			

		 

		

			[Signature Page to OCBC New Lender Supplement]

		

 

		

		
			 
		

			
					
						Accepted and agreed to as of

					
					
						 

				
	
					
						the date first written above:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						JPMORGAN CHASE BANK, N.A. as Administrative Agent

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Cristina Caviness

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						Cristina Caviness

					
					
						 

				
	
					
						 

					
					
						Title:

					
					
						Vice President

					
					
						 

				

		
			 
		

		 

		

			[Signature Page to OCBC New Lender Supplement]

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