Document:

SUPPLEMENTAL AGREEMENT NO. 1

 Exhibit 10.1 
 Supplemental Agreement No. 1 
 to 

Purchase Agreement No. 3712 
 between 
 The Boeing Company 

And 

Federal Express Corporation 
 Relating to Boeing Model 767-3S2F Aircraft 
 THIS SUPPLEMENTAL AGREEMENT, entered into as of the 29th day of June, 2012 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 that certain Purchase Agreement No. 3712, dated December 14, 2011 (Purchase Agreement), relating to the purchase and sale of certain Boeing Model 767-3S2F
Aircraft (the Aircraft); and 
 B. WHEREAS, Customer desires to add nine (9) new firm Aircraft to the
Purchase Agreement, hereinafter referred to as Block C Aircraft, with delivery dates as follows; 
  

			
	 Delivery Month &

Year for new firm
 Aircraft
	 	 Block

	[*]	 	Block C Aircraft
	[*]	 	Block C Aircraft
	[*]	 	Block C Aircraft
	[*]	 	Block C Aircraft
	[*]	 	Block C Aircraft
	[*]	 	Block C Aircraft
	[*]	 	Block C Aircraft
	[*]	 	Block C Aircraft
	[*]	 	Block C Aircraft

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

					
		 	S1-1	 	

 Supplemental Agreement 1 to 
 Purchase Agreement No. 3712 
  

 C. WHEREAS, Customer desires to exercise and reschedule ten
(10) Option Aircraft, which shall be designated as Block B or Block C Aircraft as set forth below, with delivery dates as follows: 
  

					
	 Prior Delivery

Month & Year for
 Option Aircraft
	    	 Rescheduled Delivery

Month & Year for
 exercised Option
 Aircraft
	    	 Block

	[*]	    	[*]	    	Block C Aircraft
	[*]	    	[*]	    	Block C Aircraft
	[*]	    	[*]	    	Block C Aircraft
	[*]	    	[*]	    	Block B Aircraft
	[*]	    	[*]	    	Block C Aircraft
	[*]	    	[*]	    	Block B Aircraft
	[*]	    	[*]	    	Block B Aircraft
	[*]	    	[*]	    	Block C Aircraft
	[*]	    	[*]	    	Block C Aircraft
	[*]	    	[*]	    	Block B Aircraft

 D. WHEREAS, Customer desires to add fifteen (15) new Option Aircraft, hereinafter
referred to as Block D Option Aircraft, to the Purchase Agreement with delivery dates as follows: 
  

			
	 Delivery Month &

Year for new

Option Aircraft
	    	 Block

	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft
	[*]	    	Block D Option Aircraft

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  
 S1-2

 Supplemental Agreement 1 to 
 Purchase Agreement No. 3712 
  

 E. WHEREAS, Customer desires to reschedule eight (8) existing
Option Aircraft with delivery dates as follows: 
  

			
	 Prior Delivery

Month & Year for
 Option Aircraft
	    	 Revised Delivery

Month & Year for
 Option Aircraft

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

 F. WHEREAS, Customer and Boeing desire to reschedule two (2) existing firm Aircraft
with delivery dates as follows: 
  

			
	 Prior Delivery

Month & Year for
 firm Aircraft
	    	 Revised Delivery

Month & Year for
 firm Aircraft

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

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  
 S1-3

 Supplemental Agreement 1 to 
 Purchase Agreement No. 3712 
  

 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
Supplemental Agreement No. 1. 

  

	 	2.	 Boeing and Customer acknowledge and agree that, upon execution of this Supplemental Agreement, (i) the nine (9) new firm Aircraft
described in Recital Paragraph B are hereby added to the Purchase Agreement and will be considered by the parties as “Block C Aircraft”, (ii) six (6) of the Option Aircraft exercised as firm Aircraft described in Recital
Paragraph C are hereby added to the Purchase Agreement and will be considered by the parties as “Block C Aircraft”, (iii) four (4) of the Option Aircraft exercised as [*] Aircraft described in Recital Paragraph C are hereby added
to the Purchase Agreement and will be considered by the parties as “Block B Aircraft”, (iv) the fifteen (15) new Option Aircraft described in Recital Paragraph D are hereby added to the Purchase Agreement as “Block D Option
Aircraft” and (v) the eight (8) Option Aircraft described in Recital Paragraph E are rescheduled as described herein. The Block B and Block C Aircraft will be deemed “Aircraft” for all purposes under the Purchase Agreement
except as described herein. The Block D Option Aircraft will be deemed “Option Aircraft” for all purposes under the Purchase Agreement except as described herein. 

 

	 	3.	 Remove and replace, in its entirety, Table 1-A with a revised Table 1-A attached hereto to reschedule the delivery date of the [*] Aircraft to [*]
as described in Recital paragraph F. Notwithstanding the reschedule of the [*] Aircraft to [*], the parties acknowledge and agree, for the purposes of [*]. 

 

	 	4.	 Insert a new Table 1-A1 to include nine (9) of the Block C Aircraft added to the Purchase Agreement in this Supplemental Agreement and to
incorporate pricing and current escalation factors. 

  

	 	5.	 Remove and replace, in its entirety, Table 1-B with a revised Table 1-B attached hereto to reflect the exercise of six (6) Option Aircraft as
Block C Aircraft and to reflect the exercise of four (4) Option Aircraft as Block B Aircraft. 

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  
 S1-4

 Supplemental Agreement 1 to 
 Purchase Agreement No. 3712 
  

	 	6.	 Insert a new Table 1-B1 which shall include Block D Option Aircraft, if and when such Aircraft are exercised by Customer.

  

	 	7.	 Remove and replace, in its entirety, the BFE-1 document with a revised BFE-1 document attached hereto to update on-dock dates applicable to the
Aircraft and to include additional language applicable to the [*]. 

  

	 	8.	 Revise Letter Agreement FED-PA-03712-LA-1106151 entitled “Special Matters [*] – Option Aircraft and Certain Purchase Right Aircraft”
to FED-PA-03712-LA-1106151R1 to update existing language concerning the calculation of the [*]. 

  

	 	9.	 Revise Letter Agreement FED-PA-03712-LA-1106154 entitled “Firm Aircraft Delivery Matters” to Letter Agreement FED-PA-03712-LA-1106154R1 to
(i) update delivery matters applicable to Aircraft, (ii) address the delivery reschedule of [*] Aircraft and (iii) address the Customer’s concern about the [*]. 

 

	 	10.	 Revise Letter Agreement FED-PA-03712-LA-1106156 entitled “Option Aircraft” to FED-PA-03712-LA-1106156R1 to address certain matters
applicable to Option Aircraft. Replace the existing Attachment with a new (i) Attachment 1 to remove the ten (10) Option Aircraft exercised hereunder referenced in Recital Paragraph C and to reflect rescheduled delivery dates for the eight
(8) Option Aircraft referenced in Recital Paragraph E and (ii) Attachment 2 applicable to the fifteen (15) Block D Option Aircraft referenced in Recital Paragraph D. 

 

	 	11.	 Revise Letter Agreement FED-PA-03712-LA-1106158 entitled “Right to Purchase Additional Aircraft” to FED-PA-03712-LA-1106158R1 concerning
Purchase Right Aircraft to reflect the change in quantity of such Aircraft from a quantity of [*] to a quantity of [*]. Revise Table 1-C, to [*] the quantity of Purchase Right Aircraft from [*] to [*] as a result of incorporating the changes in this
Supplemental Agreement. 

  

	 	12.	 Revise Letter Agreement FED-PA-03712-LA-1106159 entitled “Special Matters Concerning [*]” to FED-PA-03712-LA-1106159R1 to incorporate
certain changes concerning such [*]. 

  

	 	13.	 Revise Letter Agreement FED-PA-03712-LA-1106207 entitled “Special Matters for Firm Aircraft” to FED-PA-03712-LA-1106207R1 to reflect a
change in certain language relating to [*]. 

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  
 S1-5

 Supplemental Agreement 1 to 
 Purchase Agreement No. 3712 
  

	 	14.	 Revise Letter Agreement FED-PA-03712-LA-1106208 entitled “Special Matters for Option Aircraft” to FED-PA-03712-LA-1106208R1 to reflect a
change in certain language relating to [*]. 

  

	 	15.	 Revise Letter Agreement FED-PA-03712-LA-1106584 entitled “Aircraft Performance Guarantees” to FED-PA-03712-LA-1106584R1 to reflect a
change in certain language as a result of including [*]. Customer and Boeing agree that exercised Block B and Block C Aircraft, as listed in Recital paragraph C and included in Table 1-B, are subject to the terms of the Aircraft Performance
Guarantees Letter Agreement described herein. 

  

	 	16.	 Add a new Letter Agreement FED-PA-03712-LA-1208292 entitled “Special Matters Concerning [*] - Block B and Block C Aircraft” to address
special matters concerning [*] applicable to the Block B and Block C Aircraft. 

  

	 	17.	 Add a new Letter Agreement FED-PA-03712-LA-1208296 entitled “Special Matters for Block D Option Aircraft” to address special matters
applicable to Block D Option Aircraft, if and when exercised. 

  

	 	18.	 Insert a new Letter Agreement FED-PA-03712-LA-1208949 entitled “Special Matters for Block C Aircraft in Table 1-A1” to address special
matters applicable to such Block C Aircraft. 

  

	 	19.	 Add a new Letter Agreement 6-1162-SCR-146 entitled “Special Provision - Block B Aircraft” to add a special provision applicable to Block B
Aircraft. 

  

	 	20.	 As a result of the changes incorporated in this Supplemental Agreement No. 1, Customer will submit payment to Boeing in the amount of
(i) [*] of the advance payment base price applicable to the nine (9) firm Block C Aircraft referenced in Recital Paragraph B, (ii) [*] of the advance payment base price less the option deposit of [*] per each of the ten
(10) exercised Option Aircraft referenced in Recital Paragraph C and (iii) [*] option deposit per each of the fifteen (15) Block D Option Aircraft added to the Purchase Agreement referenced in Recital Paragraph D. The total sum of the
above amounts is [*]. The parties agree that the [*] will be applied toward the above amount owed by Customer upon execution of this Supplemental Agreement. The parties further agree that the [*]. The balance of [*] will be due to Boeing [*] after
execution of this Supplemental Agreement. 

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  
 S1-6

 Supplemental Agreement 1 to 
 Purchase Agreement No. 3712 
  

	 	21.	 This Supplemental Agreement No. 1 to the Purchase Agreement shall not be effective unless executed and delivered by the parties on or prior to
June 29, 2012. 

 EXECUTED as of the day and year first above written. 

 

									
	 THE BOEING COMPANY
	 		 	 FEDERAL EXPRESS CORPORATION

					
	 By:
	 	 /s/ STUART C. ROSS
	 		 	 By:
	 	 /s/ PHILLIP C. BLUM

					
	 Its:
	 	 Attorney-In-Fact
	 		 	 Its:
	 	 Vice President Aircraft Acquisition

  
 S1-7

 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
	  	 	1	  
	   1-A1
	  	 Block C Aircraft Information Table
	  	 	1	  
	 1-B
	  	 Exercised Option Aircraft Information Table
	  	 	1	  
	   1-B1
	  	 Exercised Block D Option Aircraft Table
	  	 	1	  
	 1-C
	  	 Exercised Purchase Right Aircraft Information Table
	  	 	1	  
		
	 EXHIBIT
	  	 	 
	 A
	  	 Aircraft Configuration
	  			
	 B
	  	 Aircraft Delivery Requirements and Responsibilities
	  			
		
	 SUPPLEMENTAL EXHIBITS
	  	 	 
	 AE1
	  	 Escalation Adjustment/Airframe and Optional Features
	  			
	 BFE1
	  	 BFE Variables
	  	 	1	  
	 CS1
	  	 Customer Support Variables
	  			
	 EE1
	  	 Engine Escalation, Engine Warranty and Patent Indemnity
	  			
	 SLP1
	  	 Service Life Policy Components
	  			

  

			
	FED-PA-03712	 	 June 29, 2012
 SA - 1

 BOEING PROPRIETARY 

							
	 LETTER AGREEMENTS
	  	SA
Number	 
			
	 LA-1106151R1
	  	 LA-[*] Special Matters–Option Aircraft
	  	 	1	  
			
	 LA-1106152
	  	 LA-[*] Special Matters–Firm Aircraft
	  			
			
	 LA-1106153
	  	 LA-Liquidated Damages Non-Excusable Delay
	  			
			
	 LA-1106154R1
	  	 LA-Firm Aircraft Delivery Matters
	  	 	1	  
			
	 LA-1106155
	  	 LA-Open Configuration Matters
	  			
			
	 LA-1106156R1
	  	 LA-Option Aircraft
	  	 	1	  
			
	 LA-1106157
	  	 AGTA Amended Articles
	  			
			
	 LA-1106158R1
	  	 LA-Purchase Right Aircraft
	  	 	1	  
			
	 LA-1106159R1
	  	 LA-Special Matters Concerning [*]
	  	 	1	  
			
	 LA-1106160
	  	 LA-Spare Parts Initial Provisioning
	  			
			
	 LA-1106163
	  	 LA-Demonstration Flight Waiver
	  			
			
	 LA-1106177
	  	 [*]
	  			
			
	 LA-1106207R1
	  	 LA-Special Matters Firm Aircraft
	  	 	1	  
			
	 LA-1106208R1
	  	 LA-Special Matters Option Aircraft
	  	 	1	  
			
	 LA-1106574
	  	 LA- Deviation from [*]
	  			
			
	 LA-1106584R1
	  	 LA- Performance Guarantees
	  	 	1	  
			
	 LA-1106586
	  	 LA-Miscellaneous Matters
	  			
			
	 LA-1106614
	  	 LA-Special Matters Purchase Right Aircraft
	  			
			
	 LA-1106824
	  	 LA-Customer Support Matters
	  			
			
	 LA-1208292
	  	 LA-[*] Special Matters – Block B and C Aircraft
	  	 	1	  
			
	 LA-1208296
	  	 LA-Special Matters Exercised Block D Option Aircraft
	  	 	1	  
			
	 LA-1208949
	  	 LA-Special Matters Block C Aircraft in Table 1-A1
	  	 	1	  
			
	 6-1162-SCR-146
	  	 LA Special Provisions concerning Block B Aircraft
	  	 	1	  

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	FED-PA-03712	 	 June 29, 2012
 SA - 1

 BOEING PROPRIETARY 

			                        
	 SUPPLEMENTAL AGREEMENTS
	    	DATED AS OF:
		
	 Supplemental Agreement No. 1
	    	June 29, 2012

  

			
	FED-PA-03712	 	 June 29, 2012
 SA - 1

 BOEING PROPRIETARY 

 Table 1-A To 
 Purchase Agreement No. 3712 
 Aircraft Delivery, Description, Price and
Advance Payments 
 Firm Aircraft 
  

			                        		                        		                        		                        		                        
	 Airframe Model/MTOW:
	    	767-300F	    	408000 pounds	 	Detail Specification: D019T002 Rev. K Dated April 30, 2011
	 Engine Model/Thrust:
	    	CF6-80C2B6F	    	60200 pounds	 	 Airframe Price Base Year/Escalation Formula:
	 	[*]	 	ECI-MFG/CPI
	 Airframe Price:
	    		    	[*]	 	 Engine Price Base Year/Escalation Formula:
	 	[*]	 	GE CF6-80 & GE90 (99 rev.)
	 Optional Features:
	    		    	[*]	 		 		 	
		    		    	  
	 		 		 	
	 Sub-Total of Airframe and Features:
	    	[*]	 	 Airframe Escalation Data:
	 		 	
	 Engine Price (Per Aircraft):
	    		    	[*]	 	 Base Year Index (ECI):
	 	[*]	 	
	 Aircraft Basic Price (Excluding BFE/SPE):
	    	[*]	 	 Base Year Index (CPI):
	 	[*]	 	
		    		    	  
	 		 		 	
	 Buyer Furnished Equipment (BFE) Estimate:
	    	[*]	 	 Engine Escalation Data:
	 		 	
	 Seller Purchased Equipment (SPE) Estimate:
	    	[*]	 	 Base Year Index (CPI):
	 	[*]	 	
					
	 Deposit per Aircraft:
	    		    	[*]	 		 	

  
  

																			
	 	    	 	    	Escalation	    	Escalation	    	 	    	Escalation Estimate	    	
Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

	 Delivery

Date
	    	 Number of
Aircraft
	    	 Factor
(Airframe)
	    	 Factor
(Engine)
	    	 	    	
Adv Payment Base
Price Per A/P
	    	 At Signing
1%
	    	 24 Mos.
4%
	    	 21/18/12/9/6 Mos.
5%
	    	 Total
30%

	 [*]
	    	[*]	    	[*]	    	[*]	    	See Note 1	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    		    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 Total:
	    	27	    		    		    		    		    		    		    		    	

  

	Note:	 1. Notwithstanding the delivery date of [*] shown in this Table, the Aircraft is rescheduled to deliver in [*] upon execution of SA 1 to PA 3712.
The parties acknowledge the [*] will be based on a [*]. 

 The parties acknowledge the [*]
will be based on [*]. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	FED-PA-03712 57361-IF.TXT	 	 SA-1
 Page 1

 BOEING PROPRIETARY 

 Table 1-A1 to PA 3712 

Aircraft Delivery, Description, Price and Advance Payments 
 Block C Aircraft 
  

			                        		                        		                        		                        		                        
	 Airframe Model/MTOW:
	    	767-300F	    	408000 pounds	 	 Detail Specification: D019T002-K dated April 30, 2011

	 Engine Model/Thrust:
	    	CF6-80C2B6F	    	60200 pounds	 	 Airframe Price Base Year/Escalation Formula:
	 	[*]	 	ECI-MFG/CPI
	 Airframe Price:
	    		    	[*]	 	 Engine Price Base Year/Escalation Formula:
	 	[*]	 	GE CF6-80 & GE90 (99 rev.)
	 Optional Features:
	    		    	[*]	 		 		 	
		    		    	  
	 		 		 	
	 Sub-Total of Airframe and Features:
	    	[*]	 	 Airframe Escalation Data:
	 		 	
	 Engine Price (Per Aircraft):
	    		    	[*]	 	 Base Year Index (ECI):
	 	[*]	 	
	 Aircraft Basic Price (Excluding BFE/SPE):
	    	[*]	 	 Base Year Index (CPI):
	 	[*]	 	
		    		    	  
	 		 		 	
	 Buyer Furnished Equipment (BFE) Estimate:
	    	[*]	 	 Engine Escalation Data:
	 		 	
	 Seller Purchased Equipment (SPE) Estimate:
	    	[*]	 	 Base Year Index (CPI):
	 	[*]	 	
					
	 Deposit per Aircraft:
	    	[*]	 		 		 	

  
  

																	
	 	    	 	    	Escalation	    	Escalation	    	Escalation Estimate	    	
Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

	 Delivery

Date
	    	 Number of
Aircraft
	    	 Factor
(Airframe)
	    	 Factor
(Engine)
	    	
Adv Payment Base
Price Per A/P
	    	 At Signing
1%
	    	 24 Mos.
4%
	    	 21/18/12/9/6 Mos.
5%
	    	 Total 30%

	 [*]
	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 Total:
	    	9	    		    		    		    		    		    		    	

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	FED-PA-03712 60265-IF.TXT	 	Page 3

 BOEING PROPRIETARY

 Table 1-B To 
 Purchase Agreement No. 3712 
 Aircraft Delivery, Description, Price and
Advance Payments 
 Exercised Option Aircraft 

 

			                        		                        		                        		                        		                        
	 Airframe Model/MTOW:
	    	767-300F	    	408000 pounds	 	Detail Specification: D019T002 Rev. K Dated April 30, 2011
	 Engine Model/Thrust:
	    	CF6-80C2B6F	    	60200 pounds	 	 Airframe Price Base Year/Escalation Formula:
	 	[*]	 	ECI-MFG/CPI
	 Airframe Price:
	    		    	[*]	 	 Engine Price Base Year/Escalation Formula:
	 	[*]	 	GE CF6-80 & GE90 (99 rev.)
	 Optional Features:
	    		    	[*]	 		 		 	
		    		    	  
	 		 		 	
	 Sub-Total of Airframe and Features:
	    	[*]	 	 Airframe Escalation Data:
	 		 	
	 Engine Price (Per Aircraft):
	    		    	[*]	 	 Base Year Index (ECI):
	 	[*]	 	
	 Aircraft Basic Price (Excluding BFE/SPE):
	    	[*]	 	 Base Year Index (CPI):
	 	[*]	 	
		    		    	  
	 		 		 	
	 Buyer Furnished Equipment (BFE) Estimate:
	    	[*]	 	 Engine Escalation Data:
	 		 	
	 Seller Purchased Equipment (SPE) Estimate:
	    	[*]	 	 Base Year Index (CPI):
	 	[*]	 	
		    		    	[*]	 		 		 	
	 Deposit per Aircraft:
	    		    	[*]	 		 		 	

  
  

																			
	 	    	 	    	Escalation	    	Escalation	    	 	    	Escalation Estimate	    	
Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

	 Delivery

Date
	    	 Number of
Aircraft
	    	 Factor
(Airframe)
	    	 Factor
(Engine)
	    	 	    	
Adv Payment Base
Price Per A/P
	    	 At Signing
1%
	    	 24 Mos.
4%
	    	 21/18/12/9/6 Mos.
5%
	    	 Total
30%

	 [*]
	    	[*]	    	[*]	    	[*]	    	Block C	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	Block C	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	Block C	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	Block B	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	Block C	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	Block B	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	Block B	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	Block C	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	Block C	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
	 [*]
	    	[*]	    	[*]	    	[*]	    	Block B	    	[*]	    	[*]	    	[*]	    	[*]	    	[*]
		    		    		    		    		    		    		    		    		    	
		    	 10
	    		    		    		    		    		    		    		    	

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	FED-PA-03712 57361-IF.TXT	 	Page 1

 BOEING PROPRIETARY

 Table 1-B1 To 
 Purchase Agreement No. 3712 
 Aircraft Delivery, Description, Price and
Advance Payments 
 Exercised Block D Option Aircraft 

 

			                        		                        		                        		                        		                        
	 Airframe Model/MTOW:
	    	767-300F	 	408000 pounds	 	Detail Specification: D019T002 Rev. K Dated April 30, 2011
	 Engine Model/Thrust:
	    	CF6-80C2B6F	 	60200 pounds	 	 Airframe Price Base Year/Escalation Formula:
	 	[*]	    	ECI-MFG/CPI
	 Airframe Price:
	    		 	[*]	 	 Engine Price Base Year/Escalation Formula:
	 	[*]	    	GE CF6-80 & GE90 (99 rev.)
	 Optional Features:
	    		 	[*]	 		 		    	
		    		 	  
	 		 		    	
	 Sub-Total of Airframe and Features:
	 	[*]	 	 Airframe Escalation Data:
	 		    	
	 Engine Price (Per Aircraft):
	 	[*]	 	 Base Year Index (ECI):
	 	[*]	    	
	 Aircraft Basic Price (Excluding BFE/SPE):
	 	[*]	 	 Base Year Index (CPI):
	 	[*]	    	
		    		 	  
	 		 		    	
	 Buyer Furnished Equipment (BFE) Estimate:
	 	[*]	 	 Engine Escalation Data:
	 		    	
	 Seller Purchased Equipment (SPE) Estimate:
	 	[*]	 	 Base Year Index (CPI):
	 	[*]	    	
	 Deposit per Aircraft:
	 	[*]	 		 		    	

  
  

																			
	 	    	 	    	Escalation	    	Escalation	    	 	    	Escalation Estimate	    	
Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

	 Delivery Date
	    	 Number of
Aircraft
	    	 Factor
(Airframe)
	    	 Factor
(Engine)
	    	 	    	
Adv Payment Base
Price Per A/P
	    	 At
Signing
1%
	    	 24 Mos.
4%
	    	 21/18/12/9/6 Mos.
5%
	    	 Total
30%

		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	
		    		    		    		    		    		    		    		    		    	

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	FED-PA-03712	 	Page 1

 BOEING PROPRIETARY

 Table 1-C To 
 Purchase Agreement No. 3712 
 Aircraft Delivery, Description, Price and
Advance Payments 
 Exercised Purchase Right Aircraft 

 

			                        		                        		                        		                        		                        
	 Airframe Model/MTOW:
	    	767-300F	    	408000 pounds	 	Detail Specification: D019T002 Rev. K Dated April 30, 2011
	 Engine Model/Thrust:
	    	CF6-80C2B6F	    	60200 pounds	 	 Airframe Price Base Year/Escalation Formula:
	 	[*]	 	ECI-MFG/CPI
	 Airframe Price:
	    		    	[*]	 	 Engine Price Base Year/Escalation Formula:
	 	[*]	 	GE CF6-80 & GE90 (99 rev.)
	 Optional Features:
	    		    	[*]	 		 		 	
		    		    	  
	 		 		 	
	 Sub-Total of Airframe and Features:
	    	[*]	 	 Airframe Escalation Data:
	 		 	
	 Engine Price (Per Aircraft):
	    	[*]	 	 Base Year Index (ECI):
	 	[*]	 	
	 Aircraft Basic Price (Excluding BFE/SPE):
	    	[*]	 	 Base Year Index (CPI):
	 	[*]	 	
		    		    	  
	 		 		 	
	 Buyer Furnished Equipment (BFE) Estimate:
	    	[*]	 	 Engine Escalation Data:
	 		 	
	 Seller Purchased Equipment (SPE) Estimate:
	    	[*]	 	 Base Year Index (CPI):
	 	[*]	 	
	  
 Deposit
per Aircraft:
	    	[*]	 		 		 	

  
  

																			
	 	    	 	    	Escalation	    	Escalation	    	 	    	Escalation Estimate	    	
Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

	 Delivery

Date
	    	 Number of
Aircraft
	    	 Factor
(Airframe)
	    	 Factor
(Engine)
	    	 	    	
Adv Payment Base
Price Per A/P
	    	 At Signing
1%
	    	 24 Mos.
4%
	    	 21/18/12/9/6
Mos. 5%
	    	 Total
30%

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

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	FED-PA-03712 57361-IF.TXT	 	Page 1

 BOEING PROPRIETARY

  
 BUYER FURNISHED
EQUIPMENT VARIABLES 
 between 
 THE BOEING COMPANY 
 and 

FEDERAL EXPRESS CORPORATION 
 Supplemental Exhibit BFE1 to Purchase Agreement Number 3712 

 BUYER FURNISHED EQUIPMENT VARIABLES 

relating to 

BOEING MODEL 767-300F AIRCRAFT 
 This Supplemental Exhibit BFE1 contains vendor selection dates, on-dock dates and other variables applicable to the Aircraft. 
 1. Supplier Selection. 
 Customer will: 

1.1 Select and notify Boeing of the suppliers and part numbers of the following BFE items by the following dates:

  

				                        	
	 Galley System
	    	 	[ * ]	  
		    	  
	  
	 
	 Galley Inserts
	    	 	[ * ]	  
		    	  
	  
	 
	 Seats (passenger)
	    	 	N/A	  
		    	  
	  
	 
	 Overhead & Audio System
	    	 	[ * ]	  
		    	  
	  
	 
	 In-Seat Video System
	    	 	N/A	  
		    	  
	  
	 
	 Miscellaneous Emergency Equipment
	    	 	[ * ]	  
		    	  
	  
	 
	 Cargo Handling System
	    	 	[ * ]	  
		    	  
	  
	 

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

					
	 P.A. No. 03712
	 	BFE1-1	 	

 BOEING PROPRIETARY 

 2. On-dock Dates. 

On or before [*], Boeing will provide to Customer a BFE Requirements On-Dock/Inventory Document (BFE Document) or an electronically
transmitted BFE Report which may be periodically revised, setting forth the items, quantities, on-dock dates and shipping instructions relating to the in-sequence installation of BFE. For planning purposes, a preliminary BFE on-dock schedule is set
forth below: 
  

															
	Preliminary BFE on-dock dates for planning purposes only:
								
	 Month/Year

Delivery
	 	 Qty
	 	 Seats
	 	 Galleys &
Furnishings
	 	 Miscellaneous
Emergency
Equipment
	 	 Electronics
	 	 Textiles/Raw
Materials
	 	 Cargo Handling
System

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

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

					
	 P.A. No. 03712
	 	BFE1-1	 	

 BOEING PROPRIETARY 

 Preliminary BFE on-dock dates for planning purposes only: 

 

															
	 Month/Year

Delivery
	 	 Qty
	 	 Seats
	 	 Galleys &
Furnishings
	 	 Miscellaneous
Emergency
Equipment
	 	 Electronics
	 	 Textiles/Raw
Materials
	 	 Cargo Handling
System

	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	
	 *       -On-dock dates for the following delivery positions are
unavailable at this time as they are currently outside of our production schedule. As these aircraft are implemented into the production system, on-dock dates will become available though MBC (My Boeing Configuration).

	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	sub total	 	42	 		 		 		 		 		 	
	
	 The following four (4) [*] aircraft with [*]:

 

	 Month/Year
Delivery
	 	 Qty
	 	 Seats
	 	 Galleys &
Furnishings
	 	 Miscellaneous
Emergency
Equipment
	 	 Electronics
	 	 Textiles/Row
Materials
	 	 Cargo Handling
System

	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]	 	[ * ]
	sub total	 	4	 		 		 		 		 		 	
								
	Total Aircaft	 	46	 		 		 		 		 		 	

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

					
	 P.A. No. 03712
	 	BFE1-2	 	

 BOEING PROPRIETARY 

 [*] 
 3. Additional Delivery Requirements - Import. 
 Customer will be the “importer of record” (as defined by the U.S. Customs and Border Protection) for all BFE imported into the United States, and as such, it has the responsibility to
ensure all of Customer’s BFE shipments comply with U.S. Customs Service regulations. In the event Customer requests Boeing, in writing, to act as importer of record for Customer’s BFE, and Boeing agrees to such request, Customer is
responsible for ensuring Boeing can comply with all U.S. Customs Import Regulations by making certain that, at the time of shipment, all BFE shipments comply with the requirements in the “International Shipment Routing Instructions”,
including the Customs Trade Partnership Against Terrorism (C-TPAT), as set out on the Boeing website referenced below. Customer agrees to include the International Shipment Routing Instructions, including C-TPAT requirements, in each contract
between Customer and BFE supplier. 
 http://www.boeing.com/companyoffices/doingbiz/supplier_portal/index_general.html 

 

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

					
	 P.A. No. 03712
	 	BFE1-3	 	

 BOEING PROPRIETARY 

			
	 

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

 

  

 June 29, 2012 
 6-1162-SCR-146 
 Federal Express Corporation 

3610 Hacks Cross 
 Memphis, TN 38125 

 

			
		
	Subject:	  	Special Provision – Block B Aircraft
		
	Reference:	  	 Purchase Agreement 3712 (the Purchase Agreement) between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to
Model 767-3S2F aircraft (the 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. 
 [ * ] 

 

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 6-1162-SCR-146
 Special
Provision – Block B Aircraft
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 Very Truly Yours, 
 THE BOEING COMPANY 
  

			
	 /s/ STUART C. ROSS

	 Stuart C. Ross

	 Regional Director

	 BCA Contracts

	 Telephone:
	 	     206-766-2060

	 Email:
	 	     stuart.c.ross@boeing.com

	 Mail Code:
	 	     21-43

  

			
	 Agreed and Accepted

		
	 date:
	 	 29 June 2012

	
	 FEDERAL EXPRESS CORPORATION

		
	 Signature:
	 	 /s/ PHILLIP C. BLUM

		
	 Printed name:
	 	 Phillip C. Blum

		
	 Title:
	 	 Vice President Aircraft Acquisition

  

			
	 6-1162-SCR-146
 Special
Provision – Block B Aircraft
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

			
	 

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

 

  

 FED-PA-03712-LA-1208296 
 Federal Express Corporation 
 3610 Hacks Cross Road 

Memphis, TN 38125 
  

			
		
	 Subject:
	  	 Special Matters for Block D Option Aircraft

		
	 Reference:
	  	 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 shall have the same meaning as in the Purchase Agreement. The credit memorandum provided for in this Letter Agreement will be applicable to exercised Block D Option Aircraft only,
which (i) are priced in [*] dollars and (ii) once exercised by the Customer will be added to Table 1-B1 of the Purchase Agreement (Exercised Block D Option Aircraft). 
 1. Credit Memoranda. 
 [*] 
 2. Escalation of Credit Memoranda. 
 Unless
otherwise noted, the amounts of the Credit Memoranda stated in Paragraphs [*] are 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 Exercised Block D Option Aircraft. The Credit Memoranda may, at the election of Customer, be [*]. 
 3. [*]

 4. Assignment. 
 Unless otherwise noted herein, the Credit Memoranda described in this Letter Agreement are provided as a financial accommodation to Customer and in consideration of Customer’s taking title to the
Exercised Block D Option 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.

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1208296

Special Matters – 767-300F Options Aircraft
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 5. Confidentiality 
 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. 
 Very truly yours, 
  

					
	 THE BOEING COMPANY

		
	 By
	 	 /s/ STUART C. ROSS

		
	 Its
	 	 Attorney-In-Fact

	
	 ACCEPTED AND AGREED TO this

		
	 Date:
	 	 June 29, 2012

	
	 FEDERAL EXPRESS CORPORATION

		
	 By
	 	 /s/ PHILLIP C. BLUM

		
	 Its
	 	 Vice President Aircraft Acquisition

  

			
	 FED-PA-03712-LA-1208296

Special Matters – 767 Freighter Option Aircraft
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

			
	 

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

 

  

 FED-PA-03712-LA-1106208R1 
 Federal Express Corporation 
 3610 Hacks Cross Road 

Memphis, TN 38125 
  

			
		
	 Subject:
	  	 Special Matters for Option Aircraft

		
	 Reference:
	  	 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. In addition, this Letter Agreement cancels and supersedes FED-PA-03712-LA-1106208 in its entirety. All terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement. The credit
memorandum provided for in this Letter Agreement will be applicable to exercised option aircraft only, as identified in Table 1-B of the Purchase Agreement (Exercised Option Aircraft). 
 1. Credit Memoranda. 
 [*] 

2. Escalation of Credit Memoranda. 
 Unless otherwise noted, the amounts of the Credit Memoranda stated in [*] are 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 Exercised Option Aircraft. The Credit Memoranda may, at the election of Customer, be [*]. 
 3. [*] 
 4. Assignment. 

Unless otherwise noted herein, the Credit Memoranda described in this Letter Agreement are provided as a financial
accommodation to Customer and in consideration of Customer’s taking title to the Exercised Option 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. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106208R1

Special Matters – 767-300F Options Aircraft
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 5. Confidentiality 
 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. 
  

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 /s/ STUART C . ROSS

		
	Its	 	 Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	 June 29, 2012

	
	FEDERAL EXPRESS CORPORATION
		
	By	 	 /s/ PHILLIP C. BLUM

		
	Its	 	 Vice President Aircraft Acquisition

  

			
	 FED-PA-03712-LA-1106208R1

Special Matters – 767-300F Options Aircraft
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

			
	

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

 

 FED-PA-03712-LA-1106207R1 
 Federal Express Corporation 
 3610 Hacks Cross Road 

Memphis, TN 38125 
  

			
		
	Subject:	  	Special Matters for Firm Aircraft
		
	Reference:	  	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. In addition, this Letter Agreement cancels and supersedes FED-PA-03712-LA-1106207 in its entirety. All terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement. The credit
memorandum provided for in this Letter Agreement will be applicable to the Aircraft identified in Table 1-A of the Purchase Agreement only. 

1. Credit Memoranda. 
 [*] 
 2. Escalation of Credit Memoranda. 

Unless otherwise noted, the amounts of the Credit Memoranda stated in [*] are 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 Aircraft. The Credit Memoranda may, at the election of Customer, be [*]. 

 

	3.	 [*] 

 4.
Assignment. 
 Unless otherwise noted herein, the Credit Memoranda described in this Letter Agreement are
provided as a financial accommodation to Customer and in consideration of Customer’s taking title to the 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. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106207R1

Special Matters – 767-300F with GE Engines
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

 

			
	 

  
	 	 

  

 5. Confidentiality 
 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. 
 Very truly yours, 
  

					
	THE BOEING COMPANY
		
	By	 	 /s/ STUART C. ROSS

		
	Its	 	 Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	 June 29, 2012

	
	FEDERAL EXPRESSCORPORATION
		
	By	 	 /s/ PHILLIP C. BLUM

		
	Its	 	 Vice President Aircraft
Acquisition

  

			
	 FED-PA-03712-LA-1106207R1

Special Matters – 767 Freighter with GE Engines
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

 

			
	 

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

 

  

 FED-PA-03712-LA-1208949 
 Federal Express Corporation 
 3610 Hacks Cross Road 

Memphis, TN 38125 
  

			
		
	 Subject:
	  	 Special Matters for Block C Aircraft in Table 1-A1

		
	 Reference:
	  	 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 shall have the same meaning as in the Purchase Agreement. The credit memorandum provided for in this Letter Agreement will be applicable to Block C Aircraft, as identified in Table
1-A1 of the Purchase Agreement (Block C Aircraft). 
 1. Credit Memoranda. 

[*] 
 2.
Escalation of Credit Memoranda. 
 Unless otherwise noted, the amounts of the Credit Memoranda stated in
[*] are 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 Block C Aircraft. The Credit Memoranda may, at the
election of Customer, be [*]. 
 3. [*] 
 4. Assignment. 
 Unless otherwise noted herein, the Credit
Memoranda described in this Letter Agreement are provided as a financial accommodation to Customer and in consideration of Customer’s taking title to the Block C 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. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1208949

Special Matters – 767-300F Block C Aircraft
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 5. Confidentiality 
 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. 
 Very truly yours, 
  

			
	THE BOEING COMPANY
		
	By	 	 /s/ STUART C. ROSS

		
	Its	 	 Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	 June 29, 2012

	
	FEDERAL EXPRESS CORPORATION
		
	By	 	 /s/ PHILLIP C. BLUM

		
	Its	 	 Vice President Aircraft Acquisition

  

			
	 FED-PA-03712-LA-1208949

Special Matters – 767-300F Block C Aircraft
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

			
	 

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

 

  

 FED-PA-03712-LA-1106151R1 
 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 option aircraft (Option 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-1106151 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 that are exercised
and scheduled for delivery to Customer during the delivery period from [*] through [*] (Applicable Purchase Right Aircraft). 
 1. [*] 
 2. [*] 

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. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106151R1

[*]
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 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.

 Very truly yours, 
  

			
	THE BOEING COMPANY
		
	By	 	/s/ STUART C. ROSS
		
	Its	 	 Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	 Date:
	 	 June 29, 2012

	
	 FEDERAL EXPRESS CORPORATION

		
	By	 	 /s/ PHILLIP C. BLUM

		
	Its	 	 Vice President Aircraft Acquisition

 Attachments A, B and C 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106151R1

[*]
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

 Attachment A to Letter Agreement FED-PA-03712-LA-1106151R1 

[*] 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106151R1

Attachment A
	 	June 29, 2012

 BOEING
PROPRIETARY 

 Attachment B to Letter Agreement FED-PA-03712-LA-1106151R1 

[*] 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106151R1

[*]
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

 Attachment C to Letter Agreement FED-PA-03712-LA-1106151R1 

[*] 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106151R1

Attachment C
	 	 June 29, 2012

 BOEING PROPRIETARY 

			
	 

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

 

  

 FED-PA-03712-LA-1208292 
 Federal Express Corporation 
 3610 Hacks Cross 

Memphis, TN 38125 
  

			
		
	 Subject:
	  	 Special Matters Concerning [*] – Block B and Block C 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. 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 and Block C Aircraft. 

1. [*] 
 2. [*] 

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 and Block C Aircraft Applicability. 
 Unless otherwise stated, the terms of this Letter Agreement shall only apply to the Block B and Block C Aircraft set forth in Tables 1-A1 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 and Block C Aircraft set forth in Tables 1-A1 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. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1208292

Special Matters – [*]
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 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.

 Very truly yours, 
  

			
	THE BOEING COMPANY
		
	By	 	 /s/ STUART C. ROSS

		
	Its	 	 Attorney-In-Fact

	
	 ACCEPTED AND AGREED TO this

		
	Date:	 	 June 29, 2012

	
	 FEDERAL EXPRESS CORPORATION

		
	 By
	 	 /s/ PHILLIP C. BLUM

		
	Its	 	 Vice President Aircraft Acquisition

 Attachments A, B and C 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1208292 June 29, 2012
 Special Matters – [*]
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

			
	 	 	 

  

 Attachment A to Letter Agreement FED-PA-03712-LA-1208292 

[*] 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1208292

Attachment A
	 	June 29, 2012

 BOEING
PROPRIETARY 

			
	 	 	 

  

 Attachment B to Letter Agreement FED-PA-03712-LA-1208292 

[*] 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1208292

Attachment B
	 	June 29, 2012

 BOEING
PROPRIETARY 

			
	 	 	 

  

 Attachment C to Letter Agreement FED-PA-03712-LA-1208292 

[*] 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1208292

Attachment C
	 	June 29, 2012

 BOEING
PROPRIETARY 

			
	 

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

 

  

 FED-PA-03712-LA-1106159R1 
 Federal Express Corporation 
 3610 Hacks Cross 

Memphis TN 38125 
  

			
		
	Subject:	  	Special Matters Concerning [*]
		
	References:	  	1. Purchase Agreement No. 3712 (Purchase Agreement) between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to
Model 767-3S2F aircraft (Aircraft); and
		
		  	2. 777F Purchase Agreement No. 3157 (777 PA)

 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-1106159 in its entirety. All terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement.

 1. [*] 
 2.
Confidential Treatment. Customer understands that Boeing considers certain commercial and financial information contained in this Agreement as confidential. Customer and Boeing agree that it will treat this Agreement and the information
contained herein as confidential. Customer agrees to limit the disclosure of the contents of this 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 Agreement and the terms and conditions herein to its parent company, FedEx Corporation, to the Board of Directors of its parent company, FedEx
Corporation, to its professional advisors under a duty of confidentiality with respect thereto, and as required by law. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106159R1

Special Matters Concerning [*]
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 Very truly yours, 

					
	
	 THE BOEING COMPANY

		
	 By
	 	 /s/ STUART C. ROSS

		
	 Its
	 	 Attorney-In-Fact

	
	 ACCEPTED AND AGREED TO this

		
	 Date:
	 	 June 29, 2012

	
	 FEDERAL EXPRESS CORPORATION

		
	 By
	 	 /s/ PHILLIP C. BLUM

		
	 Its
	 	 Vice President Aircraft Acquisition

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106159R1

Special Matters Concerning [*]
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

			
	 

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

 

  

 FED-PA-03712-LA-1106158R1 
 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-1106158 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) [*] additional Boeing Model 767-3S2F aircraft as purchase right aircraft
(Purchase Right Aircraft). 
 2. Delivery. 

The Purchase Right Aircraft delivery positions are [*]. 

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. 

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-1106151R1 titled 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. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106158R1

Purchase Right Aircraft
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 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. 
 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. 
 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 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106158R1

Purchase Right Aircraft
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 
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.

 Very truly yours, 
  

			
	THE BOEING COMPANY
		
	By	 	 /s/ STUART C. ROSS

		
	Its	 	 Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	 June 29, 2012

	
	FEDERAL EXPRESS CORPORATION
		
	By	 	 /s/ PHILLIP C. BLUM

		
	Its	 	 Vice President Aircraft Acquisition

  

			
	 FED-PA-03712-LA-1106158R1

Purchase Right Aircraft
	 	 June 29, 2012
 Page 3

 BOEING PROPRIETARY 

			
	 

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

 

  

 FED-PA-03712-LA-1106156R1 
 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-1106156 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 Option Aircraft. 
 Subject to the terms and conditions contained in this Letter Agreement, Customer has the option to purchase twenty (20) 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 shall [*] and such prices will be subject to escalation in accordance with the
Purchase Agreement. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106156R1

Option Aircraft
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 4.2 Subject to the provisions of Letter Agreement
FED-PA-03712-LA-1106151R1 titled 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 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 shall 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 [*] per Block D Option Aircraft (Option Deposit) as set forth in Supplemental Agreement No. 1 to the Purchase Agreement. The parties acknowledge that Customer has previously paid Boeing an Option Deposit in the
amount of [*] for each of the twenty (20) Option Aircraft in Attachment 1 to this Letter Agreement. If Customer exercises an option, the Option Deposit will be credited against the first advance payment due. [*] 

5.2 At Supplemental Agreement for the Option Aircraft, 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.

 6.1 Customer may exercise an option by giving written notice to Boeing on or before the date [*] prior to the
first day of the delivery month listed in the Attachment to this Letter Agreement (Option Exercise Date). In the first instance in which Customer will not exercise an Option Aircraft (Trigger Aircraft), Customer will notify Boeing on
or prior to the Trigger Aircraft’s Option Exercise Date, which notice will include an election by Customer to [*]. 
 6.2 [*] 
 6.3 [*] 

6.4 [*] 
 6.5 [*] 
 6.6 [*] 

6.7 The parties agree that Option Aircraft, once exercised, will be added to Table 1-B or Table 1-B1, as applicable, of
the Purchase Agreement. 
 7. [*] 
 8.
[*] 
 9. Supplemental Agreement. 
 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. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106156R1

Option Aircraft
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 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. 
 Very truly yours, 
  

			
	 THE BOEING COMPANY

		
	 By
	 	 /s/ STUART C. ROSS

		
	 Its
	 	 Attorney-In-Fact

	
	 ACCEPTED AND AGREED TO this

		
	 Date:
	 	 June 29, 2012

	
	 FEDERAL EXPRESS CORPORATION

		
	 By
	 	 /s/ PHILLIP C. BLUM

		
	 Its
	 	 Vice President Aircraft Acquisition

 Attachments 

  

			
	 FED-PA-03712-LA-1106156R1

Option Aircraft
	 	 June 29, 2012
 Page 3

 BOEING PROPRIETARY 

 Attachment 1 to 

Letter Agreement No. FED-PA-03712-LA-1106156R1 
 Aircraft Delivery, Description, Price and Advance Payments 
  

			                        		                        		                        		                        		                        
	 Airframe Model/MTOW:
	 	767-300F	 	408000 pounds	    	 Detail Specification: D019T002-K dated April 30, 2011

	 Engine Model/Thrust:
	 	CF6-80C2B6F	 	60200 pounds	    	 Airframe Price Base Year/Escalation Formula:
	 	[*]	 	 ECI-MFG/CPI

	 Airframe Price:
	 		 	[*]	    	 Engine Price Base Year/Escalation Formula:
	 	[*]	 	 GE CF6-80 & GE90 (99 rev.)

	 Optional Features:
	 		 	[*]	    		 		 	
		 		 	  
	    		 		 	
	 Sub-Total of Airframe and Features:
	 		 	[*]	    	 Airframe Escalation Data:
	 		 	
	 Engine Price (Per Aircraft):
	 		 	[*]	    	 Base Year Index (ECI):
	 	[*]	 	
	 Aircraft Basic Price (Excluding BFE/SPE):
	 		 	[*]	    	 Base Year Index (CPI):
	 	[*]	 	
		 		 	  
	    		 		 	
	 Buyer Furnished Equipment (BFE) Estimate:
	 		 	[*]	    	 Engine Escalation Data:
	 		 	
	 Seller Purchased Equipment (SPE) Estimate:
	 		 	[*]	    	 Base Year Index (CPI):
	 	[*]	 	
	 Deposit per Aircraft:
	 		 	[*]	    		 		 	

  

																	
	 	 	 	 	Escalation	 	Escalation	 	Escalation Estimate	 	
Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

	 Delivery

Date
	 	 Number of
Aircraft
	 	 Factor
(Airframe)
	 	 Factor

(Engine)
	 	 Adv Payment Base
Price Per
A/P
	 	 At Signing

1%
	 	 24 Mos.

4%
	 	 21/18/12/9/6 Mos.
5%
	 	 Total

30%

	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 Total:
	 	20	 		 		 		 		 		 		 	

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	FED-PA-03712 57361-IF.TXT	 	Page 1

 BOEING PROPRIETARY

 Attachment 2 to FED-PA-03712-LA-1106156R1 

Aircraft Delivery, Description, Price and Advance Payments Block D Option Aircraft 

 

			                        		                        		                        		                        		                        		                        
	 Airframe Model/MTOW:
	 	767-300F	 	408000 pounds	 	 Detail Specification: D019T002-K dated April 30, 2011

	 Engine Model/Thrust:
	 	CF6-80C2B6F	 	60200 pounds	 	 Airframe Price Base Year/Escalation Formula:
	 	 [ * ]
	 		 	ECI-MFG/CPI
	 Airframe Price:
	 		 	[ * ]	 	 Engine Price Base Year/Escalation Formula:
	 	 [ * ]
	 		 	GE CF6-80 & GE90 (99 rev.)
	 Optional Features:
	 		 	[ * ]	 		 		 		 	
		 		 	  
	 		 		 		 	
	 Sub-Total of Airframe and Features:
	 		 	[ * ]	 	 Airframe Escalation Data:
	 		 		 	
	 Engine Price (Per Aircraft):
	 		 	[ * ]	 	 Base Year Index (ECI): 
	 		 	[ * ]	 	
	 Aircraft Basic Price (Excluding BFE/SPE):
	 		 	[ * ]	 	 Base Year Index (CPI): 
	 		 	[ * ]	 	
		 		 	  
	 		 		 		 	
	 Buyer Furnished Equipment (BFE) Estimate:
	 		 	[ * ]	 	 Engine Escalation Data:
	 		 		 	
	 Seller Purchased Equipment (SPE) Estimate:
	 		 	[ * ]	 	 Base Year Index (CPI):
	 		 	[ * ]	 	
							
	 Deposit per Aircraft:
	 		 	[ * ]	 		 		 		 	

  

																			
	 	 	 	 	Escalation	 	Escalation	 	 	 	Escalation Estimate	 	
Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery)

	 Delivery

Date
	 	 Number of

Aircraft
	 	 Factor

(Airframe)
	 	 Factor

(Engine)
	 	 Aircraft

Block
	 	 Adv Payment Base

Price Per A/P
	 	 At Signing

1%
	 	 24 Mos.

4%
	 	 21/18/12/9/6 Mos.

5%
	 	 Total

30%

	 	 	 	 	 	 	 	 	 
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]	 	Block D	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
		 	15	 		 		 		 		 		 		 		 	

 NOTE: The above Block D Option Aircraft, if and when exercised by Customer, are subject to the terms
of letter agreement FED-PA-03712-LA-1208296. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	FED-PA-03712 60426-IF.TXT	 	 

 BOEING PROPRIETARY 

			
	 

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

 

  

 FED-PA-03712-LA-1106154R1 
 Federal Express Corporation 
 3610 Hacks Cross 

Memphis TN 38125 
  

			
		
	Subject:	  	Firm 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 Letter Agreement FED-PA-03712-LA-1106154 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 firm Aircraft identified in Tables of the Purchase Agreement only (Firm Aircraft). 
 1. [*] Aircraft Deliveries.  
 1.1 Boeing and Customer
agree to (i) reschedule the delivery date of the [*] Aircraft to [*] and (ii) reschedule the delivery date of the [*] Aircraft to [*]. Under (i) above, the parties agree that the [*] will be based on delivery in [*], as reflected in
Table 1-A, and the [*] will be adjusted to reflect the [*]. 
 1.2 Customer has expressed its concern about the
timing of [*], based on the reschedule described in article 1.1 above, since the Aircraft is a new model being entered into Customer’s aircraft fleet. Accordingly, Boeing agrees to [*]. 

2. Firm Aircraft Scheduled to Deliver by [*]. Notwithstanding firm Aircraft delivery dates as provided in the Tables that reflect
deliveries [*] or earlier, Boeing reserves the right to [*]. 
 3. Firm Aircraft Scheduled to Deliver after [*].
Notwithstanding firm Aircraft delivery dates as provided in the Tables that reflect deliveries after [*], Boeing reserves the right to [*]. 
 4. Customer Delivery Constraints. Notwithstanding Articles 2 and 3 of this Letter Agreement, Boeing will not [*]. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106154R1

Firm Aircraft Delivery Matters
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

			
	 

  
	 	 

  

 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.

 Very truly yours, 
  

			
	THE BOEING COMPANY
		
	By	 	 /s/ STUART C. ROSS

		
	Its	 	 Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	 June 29, 2012

	
	FEDERAL EXPRESS CORPORATION
		
	By	 	 /s/ PHILLIP C. BLUM

		
	Its	 	 Vice President Aircraft Acquisition

  

			
	 FED-PA-03712-LA-1106154R1

Firm Aircraft Delivery Matters
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

			
	 

  
	 	 The Boeing Company

 
 P.O. Box 3707
 Seattle, WA 98124-2207

  

 FED-PA-03712-LA-1106584R1 
 Federal Express Corporation 
 3610 Hacks Cross Road 

Memphis, TN 38125 
  

			
		
	Subject:	  	Aircraft Performance Guarantees
		
	Reference:	  	Purchase Agreement No. 3712 (Purchase Agreement) between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to
Model 767-3S2F firm aircraft listed on Table 1-A or as otherwise agreed by Boeing and Customer in writing (Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase
Agreement. In addition, this Letter Agreement cancels and supersedes FED-PA-03712-LA-1106584 in its entirety. All terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement. 

Boeing agrees to provide Customer with the performance guarantees in the Attachment. These guarantees are exclusive and
expire upon delivery of the Aircraft to Customer. Customer agrees to limit the remedy for non-compliance of any performance guarantee to the terms in Letter Agreements No. FED-PA-03712-LA-1106153 entitled “Liquidated Damages –
Non-Excusable Delay” and FED-PA-03712-LA-1106574 entitled “Agreement for Deviation from [*].” 
 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. 
  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

  

			
	 FED-PA-03712-LA-1106584R1

Aircraft Performance Guarantees
	 	 June 29, 2012
 Page 1

 BOEING PROPRIETARY 

 

			
	

	 	 

  

 Very truly yours, 
 THE BOEING COMPANY 
  

			
	 By
	 	 /s/ STUART C. ROSS

		
	 Its
	 	 Attorney-In-Fact

	
	 ACCEPTED AND AGREED TO this

		
	 Date:
	 	 June 29, 2012

	
	 FEDERAL EXPRESS CORPORATION

		
	 By
	 	 /s/ PHILLIP C. BLUM

		
	 Its
	 	 Vice President Aircraft Acquisition

  

			
	 FED-PA-03712-LA-1106584R1

Aircraft Performance Guarantees
	 	 June 29, 2012
 Page 2

 BOEING PROPRIETARY 

 

 Attachment to Letter Agreement 
 No. FED-PA-03712-LA-1106584R1 
 CF6-80C2B6F Engines 

Page 1 
 MODEL 767-300
FREIGHTER PERFORMANCE GUARANTEES 
 FOR FEDERAL EXPRESS CORPORATION 

 

			
	SECTION	  	CONTENTS
	1	  	AIRCRAFT MODEL APPLICABILITY
	2	  	FLIGHT PERFORMANCE
	3	  	MANUFACTURER’S EMPTY WEIGHT
	4	  	SOUND LEVELS
	5	  	AIRCRAFT CONFIGURATION
	6	  	GUARANTEE CONDITIONS
	7	  	GUARANTEE COMPLIANCE
	8	  	EXCLUSIVE GUARANTEES

 P.A. No. 3712 

					
	 AERO-B-BBA4-M11-1089B
	 	BOEING PROPRIETARY	 	SS12-0336

 Attachment to Letter Agreement 
 No. FED-PA-03712-LA-1106584R1 
 CF6-80C2B6F Engines 

Page 2 
 [*] 

 

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Act of 1934, as amended. 

 P.A. No. 3712 

					
	 AERO-B-BBA4-M11-1089B
	 	BOEING PROPRIETARY	 	SS12-0336SUPPLEMENTAL AGREEMENT NO. 21

 Exhibit 10.2 
 Supplemental Agreement No. 21 
 to 

Purchase Agreement No. 3157 
 between 
 The Boeing Company 

And 
 Federal
Express Corporation 
 Relating to Boeing Model 777-FREIGHTER Aircraft 

THIS SUPPLEMENTAL AGREEMENT, entered into as of the 29th day of June 2012, by and between THE BOEING COMPANY (Boeing) and FEDERAL EXPRESS CORPORATION (Customer); 

W I T N E S S E T H: 

WHEREAS, the parties entered into that certain Purchase Agreement No. 3157, dated November 7, 2006 (Purchase Agreement),
relating to the purchase and sale of certain Boeing Model 777-FREIGHTER Aircraft (Aircraft); and 
 WHEREAS, Customer desires to cancel four
(4) Block B Aircraft as shown in the Table below: 
  

			
	 Manufacturer’s

Serial Number
	  	 Existing

Delivery Date

	 40677
	  	[*]
	 40678
	  	[*]
	 40680
	  	[*]
	 40681
	  	[*]

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

	*	Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities
Exchange Act of 1934, as amended. 

  

					
	P.A. No. 3157	  	1	  	SA 21
			
		  	BOEING PROPRIETARY	  	

 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
Supplemental Agreement No. 21. 

  

	2.	The following four (4) Block B Aircraft are hereby cancelled, and neither Boeing nor Customer shall have any further obligation with respect thereto except as set
forth herein: 

  

			
	 Manufacturer’s

Serial Number
	  	 Existing

Delivery Date

	 40677
	  	[*]
	 40678
	  	[*]
	 40680
	  	[*]
	 40681
	  	[*]

  

	3.	Remove and replace, in its entirety, Table 1-B with a revised Table 1-B, attached hereto, to reflect the change in quantity of the Aircraft. 

 

	4.	As a result of the changes incorporated in this Supplemental Agreement No. 21, excess advance payments in the amount of [*] are currently held by Boeing. Customer
and Boeing agree that [*]. 

 EXECUTED as of the day and year first above written. 

 

									
	THE BOEING COMPANY	 		 	FEDERAL EXPRESS CORPORATION
					
	By:	 	/s/ STUART C. ROSS	 		 	By:	 	/s/ PHILLIP C. BLUM
	Its: Attorney-In-Fact	 		 	Its: Vice President

  

	*	Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities
Exchange Act of 1934, as amended. 

  

					
	P.A. No. 3157	  	2	  	SA 21
			
		  	BOEING PROPRIETARY	  	

 TABLE OF CONTENTS 

 

							
	  	 	 	  	SA
NUMBER
	 ARTICLES
	 		  	
		 	 1.
	 	Quantity, Model and Description	  	
		 	 2.
	 	Delivery Schedule	  	
		 	 3.
	 	Price	  	
		 	 4.
	 	Payment	  	
		 	 5.
	 	Miscellaneous	  	
			
	TABLE	 		  	
		 	 1.
	 	Aircraft Information Table	  	15  
		 	 1A
	 	Block B [*] Aircraft Information Table	  	20  
		 	 1B
	 	Block B [*] Aircraft Information Table	  	21  
		 	 1C
	 	Block C Aircraft Information Table	  	13  
		 	 1C1
	 	Block C Aircraft Information Table (MSN 39285)	  	11  
		 	 1C2
	 	Block C Aircraft Information Table	  	20  
		 	 1D
	 	Block D Aircraft Information Table	  	20  
			
	EXHIBIT	 		  	
		 	 A.
	 	Aircraft Configuration	  	4
		 	 A1.
	 	Aircraft Configuration (Block B Aircraft)	  	4
		 	 A2.
	 	Aircraft Configuration (Block C Aircraft except MSN 39285)	  	11  
		 	 A3.
	 	Aircraft Configuration (Block C Aircraft w/ MSN 39285)	  	11  
		 	 A4.
	 	Aircraft Configuration (Block D Aircraft)	  	12  
		 	 B.
	 	Aircraft Delivery Requirements and Responsibilities	  	
		
	SUPPLEMENTAL EXHIBITS	  	
		 	 AE1.
	 	Escalation Adjustment/Airframe and Optional Features	  	
		 	 CS1.
	 	Customer Support Variables	  	
		 	 EE1.
	 	Engine Escalation/Engine Warranty and Patent Indemnity	  	
		 	 SLP1.
	 	Service Life Policy Components	  	

  

	*	Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities
Exchange Act of 1934, as amended. 

  

					
	P.A. No. 3157	  	3	  	SA 21
			
		  	BOEING PROPRIETARY	  	

					
	  	  	 	  	SA
NUMBER
	LETTER AGREEMENT	  	 	  	 
	 3157-01
	  	777 Spare Parts Initial Provisioning	  	
	 3157-02
	  	Demonstration Flight Waiver	  	
	 6-1162-RCN-1785
	  	[*]	  	
	 6-1162-RCN-1789
	  	Option Aircraft	  	Exercised
		  	Attachment to Letter 6-1162-RCN-1789	  	in SA # 4
	 6-1162-RCN-1790
	  	Special Matters	  	
	 6-1162-RCN-1791
	  	Performance Guarantees	  	4  
	 6-1162-RCN-1792
	  	Liquidated Damages Non-Excusable	  	
		  	Delay	  	
	 6-1162-RCN-1793
	  	Open Configuration Matters	  	
	 6-1162-RCN-1795
	  	AGTA Amended Articles	  	
	 6-1162-RCN-1796
	  	777 First-Look Inspection Program	  	
	 6-1162-RCN-1797
	  	Licensing and Customer Supplemental Type	  	
		  	Certificates	  	
	 6-1162-RCN-1798
	  	777 Boeing Converted Freighter	  	Deleted in
		  		  	SA # 4
	 6-1162-RCN-1798 R1
	  	777 Boeing Converted Freighter	  	4  
	 6-1162-RCN-1799
	  	[*]	  	
	 6-1162-RRO-1062
	  	Option Aircraft	  	4
		  	Attachment to Letter 6-1162-RRO-1062	  	20  
	 6-1162-RRO-1065
	  	Performance Guarantees for Block B Aircraft	  	4
	 6-1162-RRO-1066R1
	  	Special Matters for Block B Aircraft	  	4
	 6-1162-RRO-1067
	  	Special Matters for Option Aircraft detailed in	  	4
		  	Letter Agreement 6-1162-RRO-1062	  	
	 6-1162-RRO-1068
	  	Special Provision – Block B Aircraft	  	4
	 FED-PA-LA-1000790R3
	  	Special Matters for Block C Aircraft	  	20  
	 FED-PA-LA-1001683R2
	  	Special Matters for Block D Aircraft	  	19  
	 6-1162-RRO-1144R7
	  	[*]	  	20  
	 6-1162-SCR-137
	  	777F Miscellaneous Matters	  	20  

  

	*	Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities
Exchange Act of 1934, as amended. 

  

					
	P.A. No. 3157	  	4	  	SA 21
			
		  	BOEING PROPRIETARY	  	

			
	 SUPPLEMENTAL AGREEMENTS
	  	 DATED AS OF:

		
	 Supplemental Agreement No. 1
	  	May 12, 2008
		
	 Supplemental Agreement No. 2
	  	July 14, 2008
		
	 Supplemental Agreement No. 3
	  	December 15, 2008
		
	 Supplemental Agreement No. 4
	  	January 9, 2009
		
	 Supplemental Agreement No. 5
	  	January 11, 2010
		
	 Supplemental Agreement No. 6
	  	March 17, 2010
		
	 Supplemental Agreement No. 7
	  	March 17, 2010
		
	 Supplemental Agreement No. 8
	  	April 30, 2010
		
	 Supplemental Agreement No. 9
	  	June 18, 2010
		
	 Supplemental Agreement No. 10
	  	June 18, 2010
		
	 Supplemental Agreement No. 11
	  	August 19, 2010
		
	 Supplemental Agreement No. 12
	  	September 3, 2010
		
	 Supplemental Agreement No. 13
	  	August 27, 2010
		
	 Supplemental Agreement No. 14
	  	October 25, 2010
		
	 Supplemental Agreement No. 15
	  	October 29, 2010
		
	 Supplemental Agreement No. 16
	  	January 31, 2011
		
	 Supplemental Agreement No. 17
	  	February 14, 2011
		
	 Supplemental Agreement No. 18
	  	March 31, 2011
		
	 Supplemental Agreement No. 19
	  	October 27, 2011
		
	 Supplemental Agreement No. 20
	  	December 14, 2011
		
	 Supplemental Agreement No. 21
	  	June 29, 2012

  

					
	P.A. No. 3157	  	5	  	SA 21
			
		  	BOEING PROPRIETARY	  	

 Table 1-B to Purchase Agreement No. 3157 

Aircraft Delivery, Description, Price and Advance Payments 
 Block B [*] 
  

											
	Airframe Model/MTOW:	 	777-Freighter	 	766000 pounds	    	Detail Specification: D019W007FED7F-1, Rev E dated August 29, 2011
						
	Engine Model/Thrust:	 	GE90-110B1L	 	110000 pounds	    	Airframe Price Base Year/Escalation Formula:	 	Jul-06	 	ECI-MFG/CPI
					
	Airframe Price:	 	[*]	    	Engine Price Base Year/Escalation Formula:	 	N/A	 	N/A
					
	Optional Features:	 	[*]	    		 		 	
					
	Sub-Total of Airframe and Features:	 	[*]	    	Airframe Escalation Data:	 		 	
					
	Engine Price (Per Aircraft):	 	[*]	    	Base Year Index (ECI):	 	[*]	 	
					
	Aircraft Basic Price (Excluding BFE/SPE):	 	[*]	    	Base Year Index (CPI):	 	[*]	 	
					
	Buyer Furnished Equipment (BFE) Estimate:	 	[*]	    		 		 	
					
	Seller Purchased Equipment (SPE) Estimate:	 	[*]	    		 		 	
					
	Non-Refundable Deposit/Aircraft at Def Agreemt:	 	[*]	    		 		 	

  

			                        		                        		                        		                        		                        		                        		                        		                        
	 Delivery
Date
	    	Number of
Aircraft	    	Escalation
Factor
(Airframe)	 	MSN	    	Escalation Estimate
Adv Payment Base
Price Per A/P	 	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to 
Delivery):
	    	    	 	    	 	At Signing
1%	 	24 Mos.
4%	 	21/18/15/12/9/6
Mos. 5%	 	Total
35%
	 [*]
	    	1	    	[*]	 	40683	    	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	    	1	    	[*]	 	40684	    	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	    	1	    	[*]	 	40685	    	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	    	1	    	[*]	 	40671	    	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	    	1	    	[*]	 	40672	    	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	    	1	    	[*]	 	40673	    	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	    	1	    	[*]	 	40676	    	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	    	1	    	[*]	 	40679	    	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	    	1	    	[*]	 	40682	    	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 Total:
	    	9
	    		 		    		 		 		 		 	

  

	*	Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities
Exchange Act of 1934, as amended. 

  

					
	APR 50270	 		 	 Supplemental Agreement #21
 Page 1

			
		 	BOEING PROPRIETARY

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