Document:

Exhibit

Exhibit 10.2

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

AMENDMENT NO. 13

to the A320 Family Aircraft Purchase Agreement

Dated as of October 19, 2011

Between

AIRBUS S.A.S.

And

JETBLUE AIRWAYS CORPORATION

This Amendment No. 13 (hereinafter referred to as the “Amendment”) is entered into as of June 20, 2019 between Airbus S.A.S. a société par actions simplifiée, created and existing under French law, having its registered office at 2 Rond-Point Emile Dewoitine, 31700 Blagnac, France and registered with Toulouse Registre du Commerce under number RCS Toulouse 383 474 814 (the “Seller”) and JetBlue Airways Corporation, a corporation organized under the laws of Delaware having its principal corporate offices at 27-01 Queens Plaza North, Long Island City, New York 11101 (formerly 118-29 Queens Boulevard, Forest Hills, New York 11375), United States of America (the “Buyer”).

WHEREAS, the Buyer and the Seller entered into an A320 Family Purchase Agreement dated as of October 19, 2011, relating to the sale by the Seller and the purchase by the Buyer of certain firmly ordered Airbus A320 family aircraft, which together with all amendments, exhibits, appendices, and letter agreements attached thereto is hereinafter called the “Agreement”.

WHEREAS, the Buyer and the Seller wish to amend the Agreement to reflect, among other things, the type conversion of certain Aircraft.

NOW THEREFORE, SUBJECT TO THE TERMS AND CONDITIONS SET FORTH HEREIN, IT IS AGREED AS FOLLOWS:

Capitalized terms used herein and not otherwise defined in this Amendment will have the meanings assigned to them in the Agreement. Except as used within quoted text, the terms “herein”, “hereof”, and “hereunder” and words of similar import refer to this Amendment.

		
	1
	SCOPE

		
	1.1
	The Buyer wishes to [***], to convert thirteen (13) Aircraft into thirteen (13) Converted A321 XLR Aircraft. 

		
	1.2
	[***]

2    DELIVERY
		
	2.1
	[***], the Buyer and the Seller hereby irrevocably convert two (2) Converted A321 NEO Aircraft, five (5) Incremental A321 NEO Aircraft, four (4) Additional A321 NEO Aircraft and two (2) 2018 Converted A321 NEO Aircraft; into thirteen (13) Converted A321 XLR Aircraft as detailed in the following table:

	
					
	CAC ID
	Original Aircraft
	Revised Aircraft
	Original Scheduled Delivery Quarter
	Revised Scheduled Delivery Quarter

	402 132
	Converted A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2023
	[***]/2023

	10054137
	Additional A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2023
	[***]/2023

	10002779
	Incremental A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2023
	[***]/2023

	402 139
	Converted A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2023
	[***]/2023

	10002789
	Incremental A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2024
	[***]/2024

	10002790
	Incremental A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2024
	[***]/2024

	402 148
	2018 Converted A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2024
	[***]/2024

	10054131
	Additional A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2024
	[***]/2024

	402 159
	2018 Converted A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2024
	[***]/2024

	10002791
	Incremental A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2024
	[***]/2024

	10002793
	Incremental A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2024
	[***]/2024

	10054129
	Additional A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2024
	[***]/2024

	10054132
	Additional A321 NEO Aircraft
	Converted A321 XLR Aircraft
	[***]/2024
	[***]/2024

All terms and conditions governing the sale and purchase of A321 XLR Aircraft under the Agreement will apply to the Converted A321 XLR Aircraft.

		
	2.2
	The scheduled delivery month of each Converted A321 XLR Aircraft [***].

		
	2.3
	Notwithstanding anything to the contrary in the Agreement, for the Converted A321 XLR Aircraft scheduled for delivery [***].

		
	2.4
	Schedule 1 to the Agreement is deleted in its entirety and replaced by the Amended and Restated Schedule 1 (the “Amended and Restated Schedule 1”) attached hereto as Appendix 1.

		
	2.5
	It shall be the Buyer’s sole responsibility to ensure, without any intervention necessary from the Seller, that all of the BFE Suppliers are notified of and accept the rescheduling and conversion set forth in Clauses 2.1 to 2.2 above without the Seller incurring any costs, losses, expenses, additional obligations, penalties, damages or liabilities of any kind by reason of such rescheduling or conversion, and the Buyer will indemnify and hold the Seller harmless against any and all of such costs, losses, expenses, additional obligations, penalties, damages or liabilities so incurred by the Seller unless such costs, losses, expenses, additional obligations, penalties, damages or liabilities are a result of the Seller’s gross negligence or willful misconduct.

		
	2.6
	The Buyer shall enter into discussions directly with the relevant Propulsion System manufacturer to amend the relevant propulsion systems agreement(s) in order to reflect the rescheduling and conversion set out in Clause 2.1 above and will indemnify and hold the Seller harmless against any and all costs, losses, expenses, additional obligations, penalties, damages or liabilities so incurred by the Seller in the event that the Buyer fails to perform its obligations as set out under this Clause 2.6 unless such costs, losses, expenses, additional obligations, penalties, damages or liabilities are a result of the Seller’s gross negligence or willful misconduct.

		
	2.7
	Any and all Predelivery Payments [***] described in Clause 2.1 herein [***].

Any and all Predelivery Payments [***] described in Clause 2.1 herein [***].

3    A321 XLR STANDARD SPECIFICATION AND DEFINITIONS

		
	3.1
	With respect to the A321 XLR Aircraft, any reference made in the Agreement to A321 NEO Standard Specification shall be deemed to be a reference to the A321 NEO ACF standard specification number [***], a copy of which has been annexed hereto as Exhibit A.

		
	3.2
	The definition of “A321 XLR Aircraft” set out in Clause 0 of the Agreement, as further described in Paragraph 1 of Amended and Restated Letter Agreement No. 3 to the Agreement, shall be deleted in its entirety and replaced by the following quoted text:

QUOTE

A321 XLR Aircraft – an A321-200NX type aircraft with the A321XLR Variant together with all components, equipment, parts and accessories installed in or on such aircraft and the A321 XLR Propulsion System installed thereon [***]. 

UNQUOTE

		
	3.3
	The definition of “[***]” set out in Clause 0 of the Agreement, as further described in Paragraph 1 of Amended and Restated Letter Agreement No. 3 to the Agreement, shall be deleted in its entirety and replaced by the following quoted text:

QUOTE

Converted A321 XLR Aircraft - any or all of the A321 XLR Aircraft that have been converted from A321 NEO Aircraft and that are sold by the Seller and purchased by the Buyer pursuant to the Agreement together with all components, equipment, parts and accessories installed in or on such aircraft and the A321 XLR Propulsion System installed thereon [***]. 

UNQUOTE

4    COMMERCIAL TERMS FOR CONVERTED A321 XLR AIRCRAFT

		
	4.1
	The Base Price of the A321 XLR Airframe shall be as set forth in Clauses 3.1.15, 3.1.16, 3.1.17 and 3.1.18 of the Agreement as further described in Paragraph 4.3 of Amended and Restated Letter Agreement No. 3 to the Agreement.

		
	4.2
	The Predelivery Payments for the Converted A321 XLR Aircraft shall be as set forth in Clause 5.3 of the Agreement as modified by Paragraphs 1.8 and 2 of the Amended and Restated Letter Agreement No. 2 to the Agreement.

		
	4.3
	The purchase incentives applicable to the Converted A321 XLR Aircraft shall be as set forth in Paragraph 13 of the Amended and Restated Letter Agreement No. 1 to the Agreement.

		
	4.4
	[***]

		
	4.4
	The Buyer hereby confirms that it [***].

		
	4.5
	[***]

		
	4.6
	[***]

		
	5
	ADDITIONAL COMMERCIAL TERMS

[***]

		
	6
	[***]

		
	7
	EFFECT OF THE AMENDMENT

		
	7.1
	[***]

		
	7.2
	The Agreement will be deemed amended to the extent herein provided, and, except as specifically amended hereby, will continue in full force and effect in accordance with its original terms. This Amendment contains the entire agreement between the Buyer and the Seller with respect to the subject matter hereof and supersedes any previous understandings, commitments, or representations whatsoever, whether oral or written, related to the subject matter of this Amendment.

		
	7.3
	Both parties agree that this Amendment will constitute an integral, nonseverable part of the Agreement and will be governed by its provisions, except that if the Agreement and this Amendment have specific provisions that are inconsistent, the specific provisions contained in this Amendment will govern.

		
	7.4
	This Amendment will become effective upon its execution [***].

 

		
	8
	CONFIDENTIALITY

This Amendment is subject to the confidentiality provisions set forth in Clause 22.10 of the Agreement.

		
	9
	ASSIGNMENT

Notwithstanding any other provision of this Amendment or of the Agreement, this Amendment will not be assigned or transferred in any manner without the prior written consent of the other party, and any attempted assignment or transfer in contravention of the provisions of this Clause 9 will be void and of no force or effect. 

		
	10
	COUNTERPARTS

This Amendment may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument.

		
	11
	INTERPRETATION AND LAW

This Amendment is subject to the Interpretation and Law provisions set forth in Clause 22.6 of the Agreement.

IN WITNESS WHEREOF, the parties hereto have entered into this Amendment by their respective officers or agents as of the date first above written.

JETBLUE AIRWAYS CORPORATION     AIRBUS S.A.S.

By: _/s/ Steve Priest    By: /s/ Benoit de Saint-Exupery

        
Its: Chief Financial Officer     Its: Senior Vice President, Contracts

Page 1/1ex_151316.htm

 

Exhibit 4.2

 

DESCRIPTION OF CAPITAL STOCK

 

General

 

The following is a description of the material terms of the capital stock of Frequency Electronics, Inc. (the “Company”). This description is not complete and is qualified by reference to the Company’s amended and restated certificate of incorporation (the “Certificate of Incorporation”) and its amended and restated bylaws (the “Bylaws”). The Certificate of Incorporation and the Bylaws are filed as exhibits to the Company’s Annual Report on Form 10-K and incorporated by reference herein. Additionally, the following description of certain provisions of Delaware law is not complete and is qualified by reference to the Delaware General Corporation Law (“DGCL”).

 

Under the Certificate of Incorporation, the Company’s authorized capital stock consists of 12,000,000 shares of common stock, $1.00 par value per share (“Common Stock”), and (b) 600,000 shares of preferred stock, $1.00 par value per share (“Preferred Stock,” and collectively with Common Stock, “Capital Stock”).

 

As of July 25, 2019, 8,996,299 shares of Common Stock were outstanding and no shares of (a) Preferred Stock were outstanding. All outstanding shares of Common Stock are duly authorized, validly issued, fully-paid and non-assessable.

 

Common Stock 

 

Voting Rights

 

Each holder of Common Stock is entitled to one vote for each share of Common Stock held on all matters submitted to a vote of stockholders, except as otherwise expressly provided in the Certificate of Incorporation or required by applicable law. The Certificate of Incorporation does not provide for cumulative voting for the election of directors.

 

Dividend Rights

 

Holders of Common Stock are entitled to receive dividends as may be declared from time to time by the Company’s board of directors (the “Board”) out of funds legally available therefor and in the sole discretion of the Board, except as otherwise provided by law or the Certificate of Incorporation.

 

Liquidation Rights

 

Pursuant to Delaware law, in the event of the liquidation, dissolution, or winding-up of the Company, the remaining assets legally available for distribution to stockholders shall be distributed ratably among the holders of Common Stock.

 

Other Rights 

 

Holders of Common Stock have no preemptive rights and no right to convert their Common Stock into any other securities. The Common Stock is not subject to any redemption or sinking fund provisions.

 

 

 

 

Preferred Stock

 

The Board may issue shares of Preferred Stock from time to time in series or otherwise without further stockholder action. The Board has the authority to make designations regarding any Preferred Stock it issues, including preferences, voting powers and relative, participating, optional or other special rights and qualifications, limitations or restrictions of such Preferred Stock.

 

Anti-Takeover Provisions

 

Certain provisions of the Certificate of Incorporation and the Bylaws and Delaware law could have an anti-takeover effect and could delay, discourage or prevent a tender offer or takeover attempt that a stockholder might consider to be in its best interests, including attempts that might otherwise result in a premium being paid over the market price of the Common Stock.

 

Certificate of Incorporation and Bylaw Provisions

 

The Certificate of Incorporation and the Bylaws contain provisions that could have the effect of delaying or preventing changes in control or changes in the Company’s management without the consent of the Board, including, among other things:

 

	 	
			●

				
			no cumulative voting in the election of directors, which limits the ability of minority stockholders to elect director candidates;

			

 

	 	
			●

				
			the right of the Board to elect a director to fill a vacancy in the Board, which prevents stockholders from being able to fill vacancies on the Board;

			

 

	 	
			●

				
			the requirement that a special meeting of stockholders may be called only by a majority vote of the Board, the Company’s president or the Company’s secretary;

			

 

	 	
			●

				
			the ability of the Board, by majority vote, to amend the Bylaws, which may allow the Board to take additional actions to prevent a hostile acquisition and inhibit the ability of an acquirer to amend the Bylaws to facilitate a hostile acquisition;

			

 

	 	
			●

				
			advance notice procedures with which stockholders must comply to nominate candidates to the Board or to propose matters to be acted upon at a stockholders’ meeting, which may preclude stockholders from bringing matters before a meeting of stockholders or from making nominations for directors at a meeting of stockholders if the proper procedures are not followed; and

			

 

	 	
			●

				
			the requirement that a business combination with any party that beneficially owns 5% or more of the Capital Stock then entitled to vote on the election of directors be approved by the affirmative vote of (i) not less than 75% of the outstanding shares of Capital Stock entitled to vote on the election of directors and (ii) not less than a majority of all outstanding shares of Capital Stock, in each case, excluding all Capital Stock owned by the acquiring party and subject to certain exceptions and qualifications provided in the Certificate of Incorporation.

			

 

 

 

 

Delaware Law

 

The Company is subject to Section 203 of the DGCL, which prohibits a Delaware corporation from engaging in any business combination with any interested stockholder for a period of three years after the date that such stockholder became an interested stockholder, with the following exceptions:

 

	 	
			●

				
			before such date, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;

			

 

	 	
			●

				
			upon the closing of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) those shares owned by (i) persons who are directors and also officers and (ii) employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

			

 

	 	
			●

				
			on or after such date, the business combination is approved by the board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder.

			

 

In general, Section 203 defines business combination to include the following:

 

	 	
			●

				
			any merger or consolidation involving the corporation and the interested stockholder;

			

 

	 	
			●

				
			any sale, transfer, pledge, or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;

			

 

	 	
			●

				
			subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder;

			

 

	 	
			●

				
			any transaction involving the corporation that has the effect of increasing the proportionate share of the stock or any class or series of the corporation beneficially owned by the interested stockholder; or

			

 

	 	
			●

				
			the receipt by the interested stockholder of the benefit of any loss, advances, guarantees, pledges, or other financial benefits by or through the corporation.

			

 

 In general, Section 203 defines an “interested stockholder” as an entity or person who, together with the person’s affiliates and associates, beneficially owns, or within three years prior to the time of determination of interested stockholder status did own, 15% or more of the outstanding voting stock of the corporation.

 

Transfer Agent and Registrar

 

The transfer agent and registrar for the Common Stock is American Stock Transfer & Trust Company, LLC “(AST)”

 

Listing 

 

The Common Stock is listed on the NASDAQ Global Market under the symbol “FEIM.”

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