Document:

exv10w1

 

Exhibit 10.1

America West 2002 Incentive Equity Plan

(As amended through May 23, 2002)

 

 

America West 2002 Incentive Equity Plan

     1. Purpose. The purpose of the America West 2002 Incentive Equity Plan (the “Plan”) is
to promote the interests of the Company by encouraging Employees, Directors and Consultants to
acquire or increase their equity interests in the Company, to provide a means whereby Employees may
develop a sense of proprietorship and personal involvement in the development and financial success
of the Company, and to encourage them to remain with and devote their best efforts to the business
of the Company, thereby advancing the interests of the Company and its stockholders. The Plan also
is intended to enhance the ability of the Company and its Subsidiaries to attract and retain the
services of individuals who are essential for the growth and profitability of the Company. The
Plan shall be effective as of March 27, 2002 (the “Effective Date”).

     2. Definitions. As used in this Plan:

          (a) “Award” means an Option Right or Restricted Stock (each as defined in its
respective paragraph).

          (b) “Board” means the Board of Directors of the Company.

          (c) “Code” means the Internal Revenue Code of 1986, as amended.

          (d) “Committee” means a committee of two or more members of the Board appointed by the
Board pursuant to Paragraph 14.

          (e) “Common Stock” means the Class B Common Stock, $0.01 par value, of the Company.

          (f) “Company” means America West Holdings Corporation.

          (g) “Consultant” means any person, including an advisor, engaged by the Company or a
Subsidiary to render consulting or advisory services and who is compensated for such services.
However, the term “Consultant” shall not include Directors who are compensated by the Company
solely for their services as Directors, and the payment of a Director’s fee by the Company for
services as a Director shall not cause a Director to be considered a “Consultant” for purposes of
the Plan.

          (h) “Continuous Service” means that the Participant’s service with the Company or any
Subsidiary, whether as an Employee, Director or Consultant, is not interrupted or terminated. A
change in the capacity in which the Participant renders service to the Company or any Subsidiary as
an Employee, Director or Consultant or a change in the entity for which the Participant renders
such service, provided that there is no interruption or termination of the Participant’s service
with the Company or any Subsidiary, shall not terminate a Participant’s Continuous Service. For
example, a change in status from an Employee of the Company to a Consultant of a Subsidiary or a
Director shall not constitute an interruption of Continuous Service. The Board or the chief
executive officer of the Company, in that party’s sole discretion, may determine whether Continuous
Service shall be considered interrupted in the case of any leave of absence approved by that party,
including sick leave, military leave or any other

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personal leave. Notwithstanding the foregoing, a leave of absence shall be treated as
Continuous Service for purposes of vesting in an Award only to such extent as may be provided in
the Company’s leave of absence policy or in the written terms of the Participant’s leave of
absence.

          (i) “Date of Grant” means with respect to an Award, the date specified by the
Committee on which such Award will become effective (which date will not be earlier than the date
on which the Committee takes action with respect thereto).

          (j) “Deferral Account” means the account established and maintained by the Company for
deferral of Stock Option Gain by a Deferral Participant. Deferral Accounts will be maintained
solely as bookkeeping entries to evidence unfunded obligations of the Company.

          (k) “Deferral Participant” means any Participant who is a member of a select group of
management or highly compensated Employees, who is designated by the Committee as a Deferral
Participant and who makes a Stock Option Gain deferral election pursuant to Paragraph 9.

          (l) “Director” means a member of the Board of Directors of the Company

          (m) “Disability” means the permanent and total disability of a person within the
meaning of Section 22(e)(3) of the Code.

          (n) “Effective Date” means March 27, 2002.

          (o) “Employee” means any person employed by the Company or any Subsidiary. Service as
a Director shall not constitute employment with the Company or a Subsidiary.

          (p) “Incentive Stock Option” means an Option Right intended to qualify as an incentive
stock option within the meaning of Section 422 of the Code and the regulations promulgated
thereunder.

          (q) “Management Objectives” means the objectives, if any, established by the Committee
that are to be achieved with respect to an Award granted under this Plan, which may be described in
terms of Company-wide objectives, in terms of objectives that are related to performance of the
division, Subsidiary, department or function within the Company or a Subsidiary in which the
Participant receiving the Award is employed or in individual or other terms, and which will relate
to the period of time determined by the Committee. The Management Objectives, intended to qualify
under Section 162(m) of the Code, shall be with respect to one or more of the following measures
which may, at the discretion of the Committee, be measured absolutely or by comparison to similar
measures reported by other major U.S. airlines: (i) earnings before interest, taxes, depreciation,
rent and amortization expenses (“EBITDAR”); (ii) earnings before interest and taxes
(“EBIT”); (iii) EBITDAR, EBIT or earnings before taxes and unusual or nonrecurring items
as measured either against the annual budget or as a ratio to revenue or return on total capital;
(iv) total stockholder return; (v) return on capital; (vi) stock price performance; (vii)
revenue per available seat mile; (viii) costs per available seat mile; and (ix) customer
satisfaction using the Air Travel Consumer Report issued by the United States Department of
Transportation. Which objectives to use with respect to an

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Award, the weighting of the objectives if more than one is used, and whether the objective is
to be measured against a Company-established budget or target, an index or a peer group of
airlines, shall be determined by the Committee in its discretion at the time of grant of the Award.
A Management Objective need not be based on an increase or a positive result and may include, for
example, maintaining the status quo or limiting economic losses. The Committee, in its sole
discretion and without the consent of the Participant, may amend an Award to reflect (1) a change
in corporate capitalization, such as a stock split or dividend, (2) a corporate transaction, such
as a corporate merger, a corporate consolidation, any corporate separation (including a spinoff or
other distribution of stock or property by a corporation), any corporate reorganization (whether or
not such reorganization comes within the definition of such term in Section 368 of the Code) or (3)
any partial or complete corporate liquidation. With respect to an Award that is subject to
Management Objectives, the Committee must first certify that the Management Objectives have been
achieved before the Award may be paid.

          (r) “Market Value per Share” means, as of any date, the closing sales price per share
of Common Stock (or the closing bid, if no sales were reported) as quoted on the exchange or market
with the greatest volume of trading in the Common Stock as of such date, as reported in The Wall
Street Journal or such other source as the Committee deems reliable. If the date of determination
is not a market trading date then the closing sales price on the last market trading day prior to
the day of determination shall be used. In the absence of such markets for the Common Stock, the
Fair Market Value shall be determined in good faith by the Committee.

          (s) “Non-Employee Director” means a director of the Company who is not also an
Employee.

          (t) “Option Price” means the purchase price per share payable on exercise of an Option
Right.

          (u) “Option Right” means the right to purchase a share of Common Stock upon exercise
of an option granted pursuant to Paragraph 4.

          (v) “Participant” means an Employee, Director or Consultant who is selected by the
Committee to receive an Award under the Plan.

          (w) “Restricted Stock” means shares of Common Stock granted or sold pursuant to
Paragraph 5.

          (x) “Rule 16b-3” means Rule 16b-3 of the Securities and Exchange Commission (or any
successor rule to the same effect) as in effect from time to time.

          (y) “Stock Option Gain” means, pursuant to the exercise of an Option Right not
intended to qualify as an Incentive Stock Option, the shares of Common Stock representing the
difference between the aggregate Market Value per Share of shares of Common Stock subject to the
Option Right on the date of exercise less the aggregate Option Price, if, and only if, the
aggregate Option Price is paid with shares of Common Stock already owned by the Deferral
Participant, as described in Paragraph 4(c)(ii) and in Revenue Ruling 80-244, 1980-2 C.B. 234.

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          (z) “Subsidiary” means, at any time, any corporation in which at the time the Company
then owns or controls, directly or indirectly, not less than 50% of the total combined voting power
represented by all classes of stock issued by such corporation.

     3. Shares Available Under Plan. Subject to adjustments as provided in Paragraph 8, (i)
8,000,000 is the maximum number of shares of Common Stock which may be issued or transferred and
covered by all outstanding Awards under this Plan, of which number no more than 1,500,000 shares
will be issued or transferred as Restricted Stock, (ii) 150,000 is the maximum number of shares of
Restricted Stock which may be issued or transferred to any one Participant in any calendar year and
(iii) 500,000 is the maximum number of shares of Common Stock which may be issued pursuant to or
covered by Option Rights granted under this Plan to any one Participant during any calendar year;
provided, however, that, in addition to the annual limit above, upon a Participant’s initial
employment with the Company or any Subsidiary or a Participant’s promotion, 1,500,000 shares is the
maximum number of shares of Common stock that may be issued pursuant to or covered by Option Rights
granted under this Plan with respect to such Participant on account of such event. Such shares may
be shares of original issue or reacquired shares, bought on the market or otherwise. Upon the
exercise of an Option Right pursuant to which Stock Option Gain is deferred under Paragraph 9, the
number of shares representing Stock Option Gain will be deemed to have been issued under this Plan
for purposes of this Paragraph 3; and transfer of shares in respect of the settlement of a Deferral
Account pursuant to Paragraph 9 shall not be deemed to be the transfer of additional shares under
this Paragraph 3. Subject to the provisions of the preceding sentence, any shares of Common Stock
which are subject to Option Rights or awarded or sold as Restricted Stock that are terminated,
unexercised, forfeited or surrendered or which expire for any reason will again be available for
issuance under this Plan, unless, with respect to Restricted Stock, the Participant has received
benefits of ownership with respect to such shares, such as dividends, but not including voting
rights. Notwithstanding the foregoing, the aggregate maximum number of shares of Common Stock that
may be issued as Incentive Stock Options shall be 8,000,000.

     4. Option Rights. The Committee may from time to time authorize grants to any Participant of
options to purchase shares of Common Stock upon such terms and conditions as it may determine in
accordance with the following provisions:

          (a) Each grant will specify the number of shares of Common Stock to which it pertains.

          (b) Each grant will specify its Option Price, which may not be less than 100% of the Market
Value per Share on the Date of Grant.

          (c) Each grant will specify that the Option Price will be payable (i) in cash by check
acceptable to the Company, (ii) by either the transfer, or attestation of ownership by the
Participant, to the Company of shares of Common Stock already owned by the optionee having an
aggregate Market Value per Share at the date of exercise equal to the aggregate Option Price and
which have been held by the Participant for more than six (6) months if such shares were acquired
by the Participant either directly or indirectly from the Company (or such longer or shorter period
of time required to avoid a charge to earnings for financial accounting purposes),

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(iii) from the proceeds of a sale through a broker of some or all of the shares to which such
exercise relates, or (iv) by a combination of such methods of payment.

          (d) Each grant will specify the required period or periods of Continuous Service by the
Participant with the Company and/or any Subsidiary and/or the Management Objectives (if any) to be
achieved before the Option Rights or installments thereof will vest and become exercisable, and any
grant may provide for the earlier vesting of the Option Rights in the event of a change in control
or other corporate transaction or event or upon termination of the Participant’s Continuous Service
due to death, Disability, or otherwise.

          (e) Each grant the vesting of which, or the timing of the vesting of which, is dependent, in
whole or in part, on the achievement of Management Objectives may specify a minimum level of
achievement in respect of the specified Management Objectives below which no Options Rights will
vest and may set forth a formula or other method for determining the number of Option Rights that
will vest if performance is at or above such minimum but short of full achievement of the
Management Objectives.

          (f) Option Rights granted under this Plan may be (i) options which are intended to qualify as
Incentive Stock Options, (ii) options which are not intended to so qualify (“Nonstatutory Stock
Options”) or (iii) combinations of the foregoing.

          (g) Each grant shall specify the period during which the Option Right may be exercised, but no
Option Right will be exercisable more than ten years from its Date of Grant. Each grant shall
specify a maximum time period after termination of Continuous Service for the vested portion of the
grant to remain exercisable. Such post-service exercise period need not be the same for all grants
nor for all reasons for the cessation of the Participant’s Continuous Service. If a
post-termination exercise period is not stated in the Option Right grant agreement, the Option
Right, to the extent vested, will remain exercisable for three (3) months after the termination of
the Participant’s Continuous Service with the Company, and the unvested portion of the Option
Right, if any, will terminate upon termination of the Participant’s Continuous Service.

          (h) Each grant of Option Rights will be evidenced by an agreement executed on behalf of the
Company by any officer, delivered to the Participant and containing such terms and provisions,
consistent with this Plan, as the Committee may approve.

     5. Restricted Stock. The Committee may also from time to time authorize grants or sales to
any Participant of Restricted Stock upon such terms and conditions as it may determine in
accordance with the following provisions:

          (a) Each grant or sale will constitute an immediate transfer of the ownership of shares of
Common Stock to the Participant in consideration of the performance of services, entitling such
Participant to voting and other ownership rights, but subject to the restrictions hereinafter
referred to. Each grant or sale may limit the Participant’s dividend rights during the period in
which the shares of Restricted Stock are subject to any such restrictions.

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          (b) Each grant or sale will specify the Management Objectives, if any, that are to be achieved in
order for the ownership restrictions to lapse. Each grant or sale that is subject to the
achievement of Management Objectives will specify a minimum acceptable level of achievement in
respect of the specified Management Objectives below which the shares of Restricted Stock will be
forfeited and may set forth a formula or other method for determining the number of shares of
Restricted Stock with respect to which restrictions will lapse if performance is at or above such
minimum but short of full achievement of the Management Objectives.

          (c) Each such grant or sale may be made without additional consideration or in consideration
of a payment by such Participant that is less than the Market Value per Share at the Date of Grant.

          (d) Each such grant or sale may provide that the shares of Restricted Stock covered by such
grant or sale will be subject, for a period to be determined by the Committee at the Date of Grant,
to a share repurchase (if the Restricted Stock was purchased) or forfeiture (if the Restricted
Stock was granted without any purchase price) in favor of the Company in the event the
Participant’s Continuous Service terminates. Such share repurchase or forfeiture shall lapse in
accordance with a vesting schedule determined by the Committee. In addition, any grant or sale may
provide for earlier vesting in the event of a change in control or other corporate transaction or
event or upon termination of the Participant’s Continuous Service due to death, Disability, or
otherwise. The Board may grant or sell shares of Restricted Stock without any restrictions such as
the repurchase or forfeiture rights provided for above as a bonus for the past services of the
Participant.

          (e) Each such grant or sale will provide that during the vesting period, if any, the
transferability of the unvested shares (the shares of the Restricted Stock which are subject to
forfeiture or a right of repurchase by the Company) will be prohibited or restricted in a manner
and to the extent prescribed by the Committee on the Date of Grant.

          (f) Each grant or sale of Restricted Stock will be evidenced by an agreement executed on
behalf of the Company by any officer and delivered to and accepted by the Participant and
containing such terms and provisions, consistent with this Plan, as the Committee may approve.

          (g) Unless otherwise approved by the Committee, certificates representing shares of Common
Stock transferred pursuant to a grant of Restricted Stock will be held in escrow pursuant to an
agreement satisfactory to the Committee until such time as the restrictions on transfer, if any,
have expired or the shares have been forfeited.

     6. Director Awards. Awards of Option Rights and Restricted Stock to Non-Employee Directors
may be made under the Plan pursuant to Paragraphs 4 and 5. In addition, automatic formula grants
of Option Rights will be made in accordance with the provisions of this Section.

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          (a) Each Nonemployee Director who is elected or appointed to the Board for the first time
after the effective date of this Plan shall automatically receive, on the date of his or her
election or appointment, a Director Option for 10,000 shares of Common Stock.

          (b) On May 27, 2002 and on the date following each subsequent annual meeting of the
stockholders of the Company in each year that this Plan is in effect (commencing with the 2003
annual meeting of stockholders), each Nonemployee Director who is in office on that day, other than
a Nonemployee Director who is elected or appointed for the first time at such annual meeting and
accordingly receives a Director Option on such day under Paragraph 6(a), shall automatically
receive a Director Option of 10,000 shares of Common Stock.

          (c) Each Director Option will be subject to all of the limitations contained in the following
provisions:

               (i) Each Director Option shall become exercisable (vested) on the first day that is more than
six months following its Date of Grant.

               (ii) The Option Price of each Director Option shall be the Market Value per Share on its Date
of Grant.

               (iii) Each Director Option that is vested may be exercised in full at one time or in part from
time to time by giving written notice to the Company, stating the number of shares of Common Stock
with respect to which the Director Option is being exercised, accompanied by payment in full of the
Option Price for such shares, which payment may be (A) in cash by check acceptable to the Company,
(B) by either the transfer, or attestation of ownership by the Participant, to the Company of
shares of Common Stock already owned by the optionee having an aggregate Market Value per Share at
the date of exercise equal to the aggregate Option Price and which have been held by the
Participant for more than six (6) months if such shares were acquired by the Participant either
directly or indirectly from the Company (or such longer or shorter period of time required to avoid
a charge to earnings for financial accounting purposes), (C) from the proceeds of a sale through a
broker of some or all of the shares to which such exercise relates or (D) by a combination of such
methods of payment.

               (iv) Each Director Option shall expire ten years from its Date of Grant, but shall be subject
to early termination as follows: to the extent unvested, each Director Option held by a
Nonemployee Director shall terminate upon the date such Nonemployee Director ceases to be a
director of the Company; to the extent vested and exercisable as of the date a Nonemployee Director
ceases to be a director of the Company, each Director Option held by such Nonemployee Director must
be exercised within three months of such date; provided that if such termination from the Board
results from the Nonemployee Director’s death, disability or retirement from the Board, then the
Director Options held by such Nonemployee Director must be exercised within three years from the
date of such termination; provided further that if within such three month period the Nonemployee
Director is appointed to serve on the Advisory Committee established by the Board of Directors of
May 20, 1998, then the Director Options must be exercised within three months following the date on
which he or she ceases to serve on such Advisory Committee; but provided further, however, that in
no event shall the normal ten year expiration date of such Director Options be extended.

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               (v) In the event that the number of shares of Common Stock available for grants under this
Plan is insufficient at any time to make all automatic grants of Director Options provided for in
Paragraphs 6(a) and 6(b) at such time, then all Nonemployee Directors who are entitled to an
automatic grant of Director Options at such time shall share ratably in the number of shares then
available for grant under this Plan and shall have no right to receive a grant with respect to the
deficiencies in the number of available shares.

     7. Transferability.

          (a) Except as provided in subparagraph (b) below, no Award that has not become payable, vested
or earned will be transferable by a Participant other than by will or the laws of descent and
distribution, and Option Rights will be exercisable during the Participant’s lifetime only by the
Participant or by the Participant’s guardian or legal representative.

          (b) The Committee may, in its discretion, adopt rules or guidelines under which any Award
previously granted or to be granted to a Participant (other than an Incentive Stock Option) may be
transferred (in whole or in part) by the Participant to (i) a permitted transferee under a
Registration Statement on Form S-8 or (ii) a Code Section 501(c)(3) organization. Following
transfer, any such Awards shall continue to be subject to the same terms and conditions as were
applicable to the Award immediately prior to transfer; provided, however, that no transferred Award
shall be exercisable or payable, as the case may be, unless arrangements satisfactory to the
Company have been made to satisfy any tax withholding obligations the Company may have with respect
to the Award.

     8. Adjustments. The Board shall make or provide for such adjustments (i) in the limitations
specified in Paragraph 3 including the maximum number of shares reserved for issuance under the
Plan, the maximum number of shares which may be issued or transferred as Restricted Stock, the
maximum number of shares which may be issued or transferred as Restricted Stock to any Participant,
the maximum number of shares which may be granted as Option Rights to any Participant, and the
aggregate number of shares of Common Stock which may be granted as Incentive Stock Options, (ii) in
the numbers of shares of Common Stock covered by outstanding Option Rights granted hereunder, (iii)
in the Option Price applicable to any such Option Rights, (iv) in the value of Deferral Accounts
and the deemed investment thereof, and/or (v) in the kind of shares covered thereby (including
shares of another issuer), as is equitably required to prevent dilution or enlargement of the
rights of Participants that otherwise would result from any stock dividend, stock split,
combination of shares, recapitalization or other change in the capital structure of the Company,
merger, consolidation, reorganization, partial or complete liquidation, issuance of writs or
warrants to purchase securities or any other corporation transaction or event having an effect
similar to any of the foregoing.

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     9. Stock Option Gain Deferral.

          (a) Participation. Only Deferral Participants are eligible to make an election
pursuant to this Paragraph 9.

          (b) Deferrals. A Deferral Participant may elect to defer Stock Option Gain pursuant
to one or more Option Rights. All of the gain inherent in an Option Right must be deferred,
although the Option Right may be exercised in parts.

               (i) Elections. Once an election form, properly completed, is received by the Committee, the
election of the Deferral Participant shall be irrevocable; provided, however, that the Committee
may, in its discretion, permit a Deferral Participant to elect a further deferral of amounts
credited to his or her Deferral Account by filing a later election form; provided further, however,
that, unless otherwise approved by the Committee, any election to defer further amounts credited to
a Deferral Account must be made at least one (1) year prior to the date such amounts would
otherwise be payable in the absence of such later election and shall be void in the event of a
Deferral Participant’s earlier termination of employment.

               (ii) Date of Election. An election to defer Stock Option Gain shall be made at least six (6)
months prior to the exercise of an Option Right. Accordingly, once a Deferral Participant has made
such an election, the Deferral Participant may not exercise the Option Right covered by the
election for at least six (6) months thereafter.

          (c) Deferral Accounts.

               (i) Establishment; Crediting of Amounts Deferred. A Deferral Account shall be established for
each Deferral Participant, as directed by the Committee. The amount of Stock Option Gain deferred
with respect each Deferral Account will be credited to such Deferral Account as of the date on
which such amount would have been paid to the Deferral Participant but for the Deferral
Participant’s election to defer receipt hereunder. Amounts credited to a Deferral Account shall be
deemed invested in Common Stock, and the Deferral Account accordingly shall fluctuate in value in
accordance with the Market Value per Share of Common Stock.

               (ii) Adjustments. Amounts credited to a Deferral Account shall be adjusted pursuant to the
terms of Paragraph 8.

          (d) Settlement of Deferral Accounts.

               (i) Form of Payment. The Company shall settle a Deferral Participant’s Deferral Account, and
discharge all of its obligations to pay deferred compensation under this Paragraph 9 with respect
to such Deferral Account, by transferring to the Deferral Participant (or the Deferral
Participant’s beneficiary or estate in the case of death) shares of Common Stock equal in number
(both whole and fractional) to the deemed Common Stock investment of the Deferral Account.

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               (ii) Timing of Transfers. Transfers in settlement of a Deferral Account shall be made as soon as
practicable after the date specified by the Deferral Participant in his or her election relating to
such Deferral Account, or earlier in the event of termination of employment, in the following
circumstances:

                    (1) A single lump sum transfer or installment transfers in settlement of any Deferral Account
shall be made or commence, as the case may be, as promptly as practicable following the Deferral
Participant’s attainment of age 55, 60, or 65, in accordance with the Deferral Participant’s
election made pursuant to Paragraph 9(b); provided, however, that a single lump sum transfer shall
be made in the event of the Deferral Participant’s termination of active employment, regardless of
cause, prior to the transfer date specified in such election. Installment transfers shall be made
in substantially equal amounts (i.e., substantially equal in terms of the number of shares of
Common Stock transferred) over five (5), ten (10) or fifteen (15) years pursuant to the Deferral
Participant’s election made pursuant to Paragraph 9(b).

                    (2) In the event of a change in control (as defined in the election form by which the Stock
Option Gain is deferred), a single transfer in settlement of a Deferral Participant’s entire
Deferral Account shall be made within fifteen (15) business days following the effective date such
change in control.

                    (3) In the event of a Deferral Participant’s death prior to receiving all transfers to which
he or she is entitled, the beneficiary of the Deferral Participant, as last designated in writing
on a form provided by the Committee, or the Deferral Participant’s estate (in the absence of such a
designation) shall receive the remaining transfers in accordance with the single lump sum or
installment method of transfer specified in the Deferral Participant’s election made pursuant to
Paragraph 9(b); provided, however, that such transfer shall be made or commence, as the case may
be, within sixty (60) business days following the date of the Deferral Participant’s death and that
a single lump sum transfer shall be made in all cases in which transfers to the Deferral
Participant have not commenced prior to death.

               (iii) Financial Hardship Transfers. Other provisions of the Plan notwithstanding, if, upon
the written application of a Participant, the Committee determines that the Deferral Participant
has a financial hardship of such a substantial nature and beyond the individual’s control that
settlement of amounts previously deferred under the Plan is warranted, the Committee may direct the
settlement of all or a portion of the balance of a Deferral Account and the time and manner of such
transfer. Financial hardship shall mean a severe financial hardship to the Deferral Participant
resulting from a sudden and unexpected illness or accident of the Deferral Participant or his or
her dependent, loss of the Deferral Participant’s property due to casualty, or other similar
extraordinary and unforeseeable circumstances arising as a result of events beyond the control of
the Deferral Participant.

          (e) Statements. The Committee will furnish statements to each Deferral Participant
reflecting the amount credited to a Deferral Participant’s Account and transactions therein not
less frequently than once each calendar year.

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          (f) Claims Procedure.

               (i) Application for Benefits and Inquiries. Any application or request for the settlement of
a Deferral Account, inquiries about this Paragraph 9 or inquiries about present or future rights
under this Paragraph 9 (a “Claim”) must be submitted to the Plan Administrator in writing by an
applicant (or his or her authorized representative). The Plan Administrator is the Committee and
may be reached at the following:

Compensation/Human Resources Committee

America West Airlines, Inc.

4000 E. Sky Harbor Boulevard

Phoenix, Arizona 85034-3899

or such other address as the Committee may from time to time specify.

               (ii) Denial of Claims. If a Claim is denied in whole or in part, the Committee must provide
the applicant with written or electronic notice of the denial of the application and of the
applicant’s right to review the denial. Any electronic notice will comply with the regulations of
the U.S. Department of Labor. The written notice of denial will be set forth in a manner designed
to be understood by the individual and will include the following:

                    (1) the specific reason or reasons for the denial;

                    (2) references to the specific Plan provisions upon which the denial is based;

                    (3) a description of any additional information or material that the Committee needs to
complete the review and an explanation of why such information or material is necessary; and

                    (4) an explanation of the Plan’s review procedures and the time limits applicable to such
procedures, including a statement of the applicant’s right to bring a civil action under section
502(a) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) following a
denial on review of the Claim, as described in Paragraph 9(f)(v) below.

               (iii) Timing of Written Notice. The written notice will be given to the applicant within 90
days after the Committee receives the application, unless special circumstances require an
extension of time, in which case, the Committee shall have up to an additional 90 days for
processing the application. If an extension of time for processing is required, written notice of
the extension will be furnished to the applicant before the end of the initial 90-day period. This
notice of extension will describe the special circumstances necessitating the additional time and
the date by which the Committee is to render its decision on the application.

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               (iv) Request for a Review. Any person (or that person’s authorized representative) for whom a Claim
is denied, in whole or in part, may appeal the denial by submitting a request for a review to the
Committee within 60 days after the application is denied. The Committee will give the applicant
(or his or her representative) an opportunity to review pertinent documents in preparing a request
for a review. A request for a review shall be in writing and shall be addressed to the Committee
at:

Compensation/Human Resources Committee

America West Airlines, Inc.

4000 E. Sky Harbor Boulevard

Phoenix, Arizona 85034-3899

or such other address as the Committee may from time to time specify.

A request for review must set forth all of the grounds on which it is based, all facts in support
of the request and any other matters that the applicant feels are pertinent. The applicant (or his
or her representative) shall have the opportunity to submit (or the Committee may require the
applicant to submit) written comments, documents, records, and other information relating to his or
her Claim. The applicant (or his or her representative) shall be provided, upon request and free
of charge, reasonable access to, and copies of, all documents, records and other information
relevant to his or her Claim. The review shall take into account all comments, documents, records
and other information submitted by the applicant (or his or her representative) relating to the
Claim, without regard to whether such information was submitted or considered in the initial
benefit determination.

               (v) Decision on Review. The Committee will act on each request for review within 60 days
after receipt of the request, unless special circumstances require an extension of time (not to
exceed an additional 60 days) for processing the request for a review. If an extension for review
is required, written notice of the extension will be furnished to the applicant within the initial
60-day period. This notice of extension will describe the special circumstances necessitating the
additional time and the date by which the Committee is to render its decision on the review. The
Committee will give prompt, written or electronic notice of its decision to the applicant. Any
electronic notice will comply with the regulations of the U.S. Department of Labor. If the
Committee confirms denial of a Claim in whole or in part, the notice will set forth, in a manner
calculated to be understood by the applicant, the following:

                    (1) the specific reason or reasons for the denial;

                    (2) references to the specific Plan provisions upon which the denial is based;

                    (3) a statement that the applicant is entitled to receive, upon request and free of charge,
reasonable access to, and copies of, all documents, records and other information relevant to his
or her Claim; and

12.

 

                    (4) a statement of the applicant’s right to bring a civil action under section 502(a) of ERISA.

               (vi) Rules and Procedures. The Committee will establish rules and procedures, consistent with
the Plan, this Paragraph 9 and Title I of ERISA, as necessary and appropriate in carrying out its
responsibilities in reviewing Claims. The Committee may require an applicant who wishes to submit
additional information in connection with an appeal from the denial of a Claim to do so at the
applicant’s own expense.

               (vii) Exhaustion of Remedies. No legal action in respect of a Claim under this Paragraph 9
may be brought until the claimant (i) has submitted a written Claim in accordance with Paragraph
9(f)(i) above, (ii) has been notified by the Committee that the application is denied, (iii) has
filed a written request for a review of the application in accordance with the appeal procedure
described in Paragraphs 9(f)(iv) above, and (iv) has been notified in writing that the Committee
has denied the appeal. Notwithstanding the foregoing, if the Committee does not respond to an
applicant’s Claim or appeal within the relevant time limits specified in this Paragraph 9(f), the
applicant may bring legal action for benefits under the Plan pursuant to Section 502(a) of ERISA.

          (g) General Provisions.

               (i) Limits on Transfers. Other than by will or the laws of descent and distribution, no
right, title or interest of any kind in a Deferral Account shall be transferable or assignable by a
Deferral Participant or his or her Beneficiary, be subject to alienation, anticipation,
encumbrance, garnishment, attachment, levy, execution or other legal or equitable process, or be
subject to the debts, contracts, liabilities or engagements, or torts of any Deferral Participant
or his or her Beneficiary. Any attempt to alienate, sell, transfer, assign, pledge, garnish,
attach or take any other action subject to legal or equitable process or encumber or dispose of any
interest in a Deferral Account shall be void.

               (ii) Receipt and Release. A transfer to any Deferral Participant or Beneficiary in accordance
with the provisions of this Paragraph 9 shall, to the extent thereof, be in full satisfaction of
all claims for the compensation or awards deferred pursuant to the Deferral Account to which the
transfer relates against the Company or any Subsidiary, and the Committee may require such Deferral
Participant or Beneficiary, as a condition to such transfer, to execute a receipt and release to
such effect.

               (iii) Unfunded Status; Creation of Trusts. This Paragraph 9 is intended to constitute an
“unfunded” plan for deferred compensation, and Deferral Participants shall rely solely on the
unsecured promise of the Company for transfers hereunder with respect to any transfer not yet made
to a Deferral Participant. Nothing contained in this Paragraph 9 shall give a Deferral Participant
any rights that are greater than those of a general unsecured creditor of the Company; provided,
however, that the Committee may authorize the creation of a trust or make other arrangements to
meet the Company’s obligations under this Paragraph 9, which trust or other arrangements shall be
consistent with the “unfunded” status of such deferred compensation plan unless the Committee
otherwise determines with the consent of each affected Deferral Participant.

13.

 

               (iv) Compliance. A Deferral Participant shall have no right to receive any payment or
transfer with respect to his or her Deferral Account until legal and contractual obligations of the
Company relating to this Paragraph 9 and the making of such payment or transfer shall have been
complied with in full. In addition, the Company shall impose such restrictions on Common Stock
delivered to a Participant hereunder and any other interest constituting a security as it may deem
advisable in order to comply with the Securities Act of 1933, as amended, the requirements of the
New York Stock Exchange or any other stock exchange or automated quotation system upon which the
Common Stock is then listed or quoted, any state securities laws applicable to such a transfer, any
provision of the Company’s Certificate of Incorporation or Bylaws, or any other law, regulation, or
binding contract to which the Company is a party.

               (v) Other Participant Rights. No Deferral Participant shall have any of the rights or
privileges of a stockholder of the Company under this Paragraph 9, including as a result of the
deemed investment of a Deferral Account in Common Stock or the creation of any trust and deposit of
Common Stock therein, except at such time as Common Stock may be actually delivered in settlement
of a Deferral Account. Subject to the limitations set forth in Paragraph 9(g)(i) above, the terms
and conditions of this Paragraph 9 shall inure to the benefit of, and be binding upon, the parties
hereto and their successors and assigns.

               (vi) Limitation. A Deferral Participant and his or her Beneficiary shall assume all risk in
connection with any decrease in value of the Deferral Account, and neither the Company, any
Subsidiary nor the Committee shall be liable or responsible therefor.

               (vii) Transfer from and Option Grants under the 1994 Incentive Equity Plan. All deferrals
made under the Company’s 1994 Incentive Equity Plan (the “1994 Plan”) will be transferred from such
Plan to this Plan, to be administered pursuant to the terms of this Plan and this Paragraph 9.
Moreover, any deferral of Stock Option Gain with respect to Option Rights granted under the 1994
Plan shall be made under the provisions of this Plan, and the provisions for the deferral of Stock
Option Gain under the 1994 Plan shall cease to be effective as of the Effective Date.

     10. Eligibility for Awards. Incentive Stock Options may be granted only to Employees. Awards
other than Incentive Stock Options may be granted to Employees, Directors and Consultants;
provided, however, that a Consultant will not be eligible for an Award to the extent that, at the
time of grant, a Form S-8 Registration Statement is not available to register either the offer or
the sale of the Company’s securities to the Consultant. The Board may provide for formula equity
grants to Directors in the future by amending the Plan without stockholder approval.

     11. Fractional Shares. Except as otherwise provided in Paragraph 9(d)(i) above, the Company
will not be required to issue any fractional share of Common Stock pursuant to this Plan. The
Committee may provide for the elimination of fractions or the settlement of fractions in cash.

     12. Use of Proceeds. Proceeds from the sale of Common Stock pursuant to Awards shall
constitute general funds of the Company.

14.

 

     13. Withholding of Taxes. To the extent that the Company is required to withhold federal,
state, local or foreign taxes in connection with any grant or payment made to a Participant or any
other person under this Plan, and the amounts available to the Company for such withholding are
insufficient, it will be a condition to the receipt of such grant or payment that the Participant
or such other person make arrangements satisfactory to the Company for the payment of the balance
of such taxes required or requested to be withheld, which arrangements in the discretion the
Committee may include relinquishment of a portion of such Award or payment. With respect to any
Participant who is subject to Rule 16b-3 at the time withholding is required with respect to an
Award payable in Common Stock, the Participant may direct the Company to withhold a number of
shares of Common Stock having an aggregate Market Value per Share equal to the amount of taxes
required to be withheld by the Company. To the extent that the Company withholds a number of shares
of Common Stock from an Award or a Participant relinquishes a portion of an Award to fulfill the
Participant’s withholding obligation, the Company will not withhold shares or allow for the
relinquishment of shares whose value exceeds the minimum amount of tax required to be withheld by
law (or such lesser amount as may be required to avoid a charge to earnings for financial
accounting purposes).

     14. Administration of the Plan.

          (a) This Plan will be administered by the Board or, as delegated by the Board, a Committee.
The Committee shall at all times consist of not less than two Directors appointed by the Board,
each of whom will be a “non-employee director” within the meaning of Rule 16b-3 and an “outside
director” within the meaning of Section 162(m) of the Code. A majority of the Committee will
constitute a quorum, and the action of the members the Committee present at any meeting at which a
quorum is present, or acts unanimously approved writing, will be the acts of the Committee.

          (b) The Board and as delegated, the Committee, shall have the power, subject to and within the
limitations of, the express provisions of the Plan:

               (i) To determine from time to time which of the persons eligible under the Plan shall be
granted Awards; when and how each Award shall be granted; what type or combination of types of
Awards shall be granted; the provisions of each Award granted (which need not be identical),
including the time or times when a person shall be permitted to receive Common Stock pursuant to an
Award; and the number of shares of Common Stock with respect to which an Award shall be granted to
each such person.

               (ii) To construe and interpret the Plan and Awards, and to establish, amend and revoke rules
and regulations for its administration. In the exercise of this power, the Board or the Committee
may correct any defect, omission or inconsistency in the Plan or in any Award agreement, in a
manner and to the extent it shall deem necessary or expedient to make the Plan fully effective.

               (iii) To amend the Plan or an Award as provided in Paragraph 15.

               (iv) To terminate or suspend the Plan as provided in Paragraph 20.

15.

 

               (v) Generally, to exercise such powers and to perform such acts as the Board or the Committee
deems necessary or expedient to promote the best interests of the Company and that are not in
conflict with the provisions of the Plan

          (c) The interpretation and construction by the Board or the Committee of any provision of this
Plan or of any agreement, notification or document evidencing the grant of an Award and any
determination by the Board or the Committee pursuant to any provision of this Plan or of any such
agreement, notification or documentation will be final and conclusive with respect to all persons.
No member of the Board or the Committee will be liable for any such action or determination made in
good faith or in the absence of gross negligence or willful misconduct on the part of such member.

     15. Amendments.

          (a) This Plan may be amended from time to time by the Board. The Board, in its sole
discretion, may submit any amendment to the Plan for stockholder approval.

          (b) The Committee, in its sole discretion, may take any action it deems to be equitable under
the circumstances or in the best interests of the Company with respect to any Award, unless such
Award is intended to qualify as “performance based” compensation under Section 162(m) of the Code
and such action would cause the Award to fail to so qualify.

          (c) Outstanding Awards may not be amended (either directly or through an amendment to the
Plan) in such a manner that would impair the rights under such Award unless the Company receives
the written consent of the Participant.

     16. No Employment or other Service Rights. Neither this Plan nor the Awards hereunder will
confer upon any Participant any right with respect to continuance of employment or other service
with the Company or any Subsidiary, nor will it interfere in any way with any right the Company or
any Subsidiary would otherwise have to terminate such Participant’s employment or other service at
any time.

     17. Stockholder Rights. No Participant shall be deemed to be the holder of, or to have any
rights of a holder with respect to any shares of Common Stock subject to an Award (except for
Restricted Stock) unless and until such Participant has satisfied all requirements for the exercise
of and has exercised the Award pursuant to its terms.

     18. Effective Date of the Plan. The Plan shall become effective as determined by the Board,
but no Award shall be exercised (or in the case of a Stock Bonus or Restricted Stock, shall be
granted) unless and until the Plan has been approved by the stockholders of the Company, which
approval shall be within twelve (12) months before or after the date the Plan is adopted by the
Board.

     19. Choice of Law. The laws of the state of Delaware shall govern all questions concerning
the construction, validity and interpretation of this Plan, without regard to such state’s conflict
of laws rules.

16.

 

     20. Term. This Plan became effective as of the Effective Date. Unless sooner terminated by
the Board or the Committee, this Plan shall terminate on March 26, 2012, and no further Awards
shall be made, but all outstanding Awards and Deferral Accounts on such date shall remain effective
in accordance with their terms and the terms of this Plan

     21. Performance-Based Awards. The Committee may authorize the payment of cash awards to
Employees under a plan or arrangement approved by the Committee that is based on the Management
Objectives in a manner that satisfies the requirements of Section 162(m) of the Code for qualified
performance-based compensation. The maximum amount of any cash award to an Employee under any such
plan or arrangement in any one calendar year is $2,500,000. Notwithstanding anything else
contained herein to the contrary, to the extent required to qualify any cash award as qualified
performance-based compensation under Section 162(m) of the Code, the Committee shall not be
entitled to exercise any discretion otherwise authorized under the Plan or any such plan or
arrangement to accelerate the vesting of such award or to pay out such award regardless of the
achievement of the Management Objectives if the ability to exercise such discretion would cause
such award to fail to qualify as qualified performance-based compensation.

     This America West 2002 Incentive Equity Plan is hereby executed by a duly authorized officer
of America West Holdings Corporation.

	 	 	 	 	 	 	 
	 	 	America West Holdings Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Its:
	 	Chairman, President and Chief Executive Officer	 	 

17.exv10w3

 

Exhibit 10.3

EMBRAER 190

AMENDED AND RESTATED PURCHASE AGREEMENT DCT-021/03

between

EMBRAER — EMPRESA BRASILEIRA

DE AERONÁUTICA S.A.

and

US AIRWAYS GROUP, INC.

Amended and Restated Purchase Agreement DCT-021/03

 

 

INDEX

	 	 	 	 	 
	ARTICLE	 	PAGE	 
	 
	1. DEFINITIONS
	 	 	4	 
	2. SUBJECT
	 	 	7	 
	3. PRICE
	 	 	7	 
	4. PAYMENT
	 	 	7	 
	5. DELIVERY
	 	 	8	 
	6. CERTIFICATION
	 	 	9	 
	7. ACCEPTANCE AND TRANSFER OF OWNERSHIP
	 	 	9	 
	8. STORAGE CHARGE
	 	 	10	 
	9. DELAYS IN DELIVERY
	 	 	11	 
	10. INSPECTION AND QUALITY CONTROL
	 	 	13	 
	11. CHANGES
	 	 	13	 
	12. WARRANTY
	 	 	14	 
	13. PRODUCT SUPPORT PACKAGE
	 	 	14	 
	14. ASSIGNMENT
	 	 	14	 
	15. RESTRICTIONS AND PATENT INDEMNITY
	 	 	15	 
	16. MARKETING PROMOTIONAL RIGHTS
	 	 	15	 
	17. TAXES
	 	 	15	 
	18. APPLICABLE LAW
	 	 	16	 
	19. JURISDICTION
	 	 	16	 
	20. TERMINATION
	 	 	16	 
	21. PURCHASE OF OPTION AIRCRAFT
	 	 	17	 
	22. INDEMNITY
	 	 	18	 
	23. NOTICES
	 	 	18	 
	24. CONFIDENTIALITY
	 	 	19	 
	25. SEVERABILITY
	 	 	19	 
	26. NON-WAIVER
	 	 	20	 
	27. INTEGRATED AGREEMENT
	 	 	20	 
	28. NEGOTIATED AGREEMENT
	 	 	20	 
	29. COUNTERPARTS
	 	 	20	 
	30. ENTIRE AGREEMENT
	 	 	20	 

ATTACHMENTS

	 	 	 
	“A”

	 	**
	“B”

	 	**
	“C”

	 	**
	“D”

	 	**
	“E”

	 	**

 

			
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Amended and Restated Purchase Agreement DCT-021/03

 

 

AMENDED AND RESTATED PURCHASE AGREEMENT DCT — 021/03

WHEREAS, on May 9, 2003 Embraer-Empresa Brasileira de Aeronautica S.A. (“Embraer”) and US Airways
Group Inc. (“Buyer”) entered into Purchase Agreement DCT-021/03 (“Purchase Agreement DCT-021/03”);

WHEREAS, Buyer and its various affiliates commenced bankruptcy cases in the United States
Bankruptcy Court for the Eastern District of Virginia, Alexandria Division (“Bankruptcy Court”) on
September 12, 2004 in the matter entitled In re US Airways, et al., Case No. 04-13819;

WHEREAS, on September 16, 2005 the Bankruptcy Court entered an order (“Confirmation Order”)
confirming a Joint Plan of Reorganization of the Buyer (“Plan”) which had an effective date of
September 27, 2005;

WHEREAS, pursuant to the Plan the Buyer was authorized to place the Purchase Agreement DCT-021/03
on a post effective date determination schedule;

WHEREAS, on February 16, 2006 the Bankruptcy Court approved a Settlement and Assumption Term Sheet
dated February 9, 2006 (“Term Sheet”) between the Buyer and Embraer, which among other things
required the Parties to amend and restate the Purchase Agreement DCT-021/03; and

WHEREAS, the Parties desire to amend and restate Purchase Agreement DCT-021/03 to comply with the
Term Sheet as approved by the Bankruptcy Court on February 16, 2006;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged and agreed, the Parties hereto agree as follows this                      day of June 2006;

RESTATEMENT:

Purchase Agreement DCT-021/03 is hereby fully and completely amended and restated in its entirety
pursuant to the terms hereof and shall be without any further force or effect, and the Parties’
agreement in regard to the subject matter hereof shall be solely contained in this Agreement.

THIS AGREEMENT SHALL NOT BE EFFECTIVE UNLESS AND UNTIL IT IS SIGNED BY AN AUTHORIZED OFFICER OF US
AIRWAYS GROUP, INC. AND EXECUTED BY TWO AUTHORIZED OFFICERS OF EMBRAER — EMPRESA BRASILEIRA DE
AERONÁUTICA S.A.

 

			
	Amended and Restated Purchase Agreement DCT-021/03
	 	Page 3 of 21

 

 

	1.	 	DEFINITIONS
	 
	 	 	For the purpose of this Agreement, the following definitions are hereby adopted by the Parties
and, unless otherwise expressly provided, the singular includes the plural, the masculine
includes the feminine and neutral genders:

	 	 	 
	1.1 “Actual Delivery
Date”

	 	shall mean, with respect to each Aircraft, the date on which
Buyer obtains title to that Aircraft in accordance with
Article 7 hereof.
	 
	 	 
	1.2 “Additional Aircraft”

	 	shall be the thirty-two (32) EMBRAER 190 Aircraft with
deliveries scheduled to occur pursuant to Article 1.2 of
Attachment E.
	 
	 	 
	1.3 “ADs”

	 	shall mean Airworthiness Directives issued by either the CTA
or the Air Authority, in connection with and with respect to any Aircraft.
	 
	 	 
	1.4 “Agreement” or
“Purchase Agreement”

	 	shall mean this Amended and Restated Purchase Agreement
DCT-021/03, as amended, supplemented or otherwise modified in
accordance with Article 30 and includes all attachments and
schedules hereto.
	 
	 	 
	1.5 “Air Authority”

	 	shall mean the Federal Aviation Administration (“FAA”) in the
United States or such other office of the United States that
shall succeed to its functions.
	 
	 	 
	1.6 “Aircraft Basic
Price”

	 	shall mean the unit Aircraft price, as defined in Article 3.1.
	 
	 	 
	1.7 “Aircraft Purchase
Price”

	 	shall mean the Aircraft price, effective on the relevant
Aircraft Contractual Delivery Month, resulting from the
application of the relevant Escalation Formula to the
Aircraft Basic Price as set forth in Article 3.3.
	 
	 	 
	1.8 “Aircraft”

	 	shall mean each of the EMBRAER 190 Aircraft and, where there
is more than one of such Aircraft, each of them. Aircraft
shall include Initial Aircraft, Additional Aircraft and
Option Aircraft unless the context requires otherwise.
	 
	 	 
	1.9 “Business Day(s)”

	 	shall mean a day on which banks are open for business in São
José dos Campos, São Paulo, Rio de Janeiro, New York, New
York, USA, and Phoenix, Arizona, USA.
	 
	 	 

			
	Amended and Restated Purchase Agreement DCT-021/03
	 	Page 4 of 21

 

 

	 	 	 
	1.10 “Buyer”

	 	shall mean US Airways Group, Inc., a company with its
corporate address at 4000 East Sky Harbor Boulevard, Phoenix,
AZ, 85034, United States of America or any assignee that is
assigned the right to purchase an Aircraft prior to its
delivery in accordance with Article 14 hereof.
	 
	 	 
	1.11 “Contractual
Delivery Month”

	 	shall mean the delivery month referred to in Attachment E to
this Agreement.
	 
	 	 
	1.12 “CTA”

	 	shall mean the Aerospace Technical Center of the Brazilian
Ministry of Aeronautics, or such other office of Brazil that
shall succeed to its functions.
	 
	 	 
	1.13 “Day(s)”

	 	shall mean natural calendar day(s).
	 
	 	 
	1.14 “EMBRAER 190
Aircraft”

	 	shall mean each of the ERJ 190-100 IGW model aircraft
manufactured by Embraer according ** (which, although not
attached hereto, is incorporated herein by reference) and the
Aircraft Specific Configuration, Finishing and Registration
Marks described in Attachment “A”, for sale to Buyer pursuant
to this Agreement, equipped with two GE CF34-10E6 model
engines manufactured by General Electric Company (or, where
there is more than one of such aircraft, each of such
aircraft).
	 
	 	 
	1.15 “Embraer”

	 	shall mean Embraer – Empresa Brasileira de Aeronáutica S.A.,
a Brazilian corporation with its principal place of business
at Av. Brigadeiro Faria Lima, 2170 — Putim, São José dos
Campos, São Paulo, Brazil.
	 
	 	 
	1.16 “Escalation
Formula”

	 	shall mean the escalation formula contained in Attachment “D”
for the Aircraft.
	 
	 	 
	1.17 “FAR”

	 	shall mean the Federal Aviation Regulations of the Air
Authority.
	 
	 	 
	1.18 “ Initial Aircraft”

	 	shall be the twenty-five (25) EMBRAER 190 Aircraft with
deliveries scheduled to occur pursuant to Article 1.1 of
Attachment E.
	 
	 	 
	1.19 “Initial Deposit”

	 	shall mean the initial ** deposit referred to in Article
4.1.1 hereof.
	 
	 	 
	1.20 Letter Agreement
DCT-022/03”

	 	shall mean the Amended and Restated Letter Agreement
DCT-022/03 dated as of the date hereof.

 

			
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	Amended and Restated Purchase Agreement DCT-021/03
	 	Page 5 of 21

 

 

	 	 	 
	1.21 “LIBOR”

	 	shall mean the offered rate for deposits in US dollars, which
appears on the Reuters Screen LIBO Page as of 11:00 a.m.,
London time, on the day that is two (2) Business Days before
the first day of a period, as applied on a pro rata basis
based on a year of 360 days.
	 
	 	 
	1.22 “Major Changes”

	 	shall mean the changes to the design of the Aircraft, as
defined in Article 11.2.2 hereof.
	 
	 	 
	1.23 “Mandatory
Service Bulletins”

	 	shall mean service bulletins applicable to the Aircraft that
are issued by Embraer to implement the ADs referred to under
Article 11.4 herein.
	 
	 	 
	1.24 “Minor Changes”

	 	shall mean the changes to the design of the Aircraft defined
as per the terms and conditions of Article 11.2.1 hereof.
	 
	 	 
	1.25 “Option Aircraft
Basic Price”

	 	shall mean the unit price of the Option Aircraft, as per the
terms and conditions of Article 21.3 hereof.
	 
	 	 
	1.26 “Option Aircraft
Contractual Delivery
Month”

	 	shall mean the delivery schedule of the Option Aircraft
referred to in Attachment E to this Agreement.
	 
	 	 
	1.27 “Option Aircraft
Initial Deposit”

	 	shall mean the initial deposit referred to under Article 21.7.
	 
	 	 
	1.28 “Option Aircraft
Purchase Price”

	 	shall mean the escalated price of the Option Aircraft, as per
the terms and conditions of Article 21.4 hereunder.
	 
	 	 
	1.29 “Option Aircraft”

	 	shall be the EMBRAER 190 Aircraft that Buyer shall have the
option to purchase as per the terms of Article 21 hereof.
	 
	 	 
	1.30 “Parties”

	 	shall mean Embraer and Buyer.
	 
	 	 
	1.31 “Product Support
Package”

	 	shall mean the products and Services to be provided by
Embraer as per Article 13 herein.
	 
	 	 
	1.32 “Scheduled
Delivery Date”

	 	shall have the meaning provided in Section 7.1.
	 
	 	 
	1.33 “Scheduled
Inspection Date”

	 	shall have the meaning provided in Section 7.1.
	 
	 	 
	1.34 “Services”

	 	shall mean the familiarization and on-site support for the
Aircraft, part of the Product Support Package, as specified
in Attachment “B”.

			
	 	 	 
	Amended and Restated Purchase Agreement DCT-021/03
	 	Page 6 of 21

 

 

	 	 	 
	1.35 “Technical
Publications”

	 	shall mean the technical documentation pertaining and related
to the Aircraft as listed in Exhibit 1 to Attachment “B”.
	 
	 	 
	1.36 “USD” or “US$”

	 	shall mean the legal currency of the United States of America.
	 
	 	 
	1.37 “Working Day(s)”

	 	shall mean a day, other than Saturday, Sunday or holiday, on
which Embraer in São José dos Campos, SP, Brazil is open for
business.

	2.	 	SUBJECT
	 
	 	 	Subject to the terms and conditions of this Agreement including but not limited to Attachment
E hereto:
	 
	2.1	 	Embraer shall sell and deliver and Buyer shall purchase and take delivery of twenty-five (25)
Initial Aircraft and thirty-two (32) Additional Aircraft;
	 
	2.2	 	Embraer shall provide to Buyer the Services and the Technical Publications;
	 
	2.3	 	Buyer shall have the option to purchase up to fifty (50) Option Aircraft, in accordance with
Article 21 hereof.
	 
	3.	 	PRICE
	 
	3.1	 	Buyer agrees to pay Embraer, in United States dollars, the following unit Aircraft Basic
Price **.

	 	 	 	 	 	 	 
	 	EMBRAER 190 Initial Aircraft
	 	US$**	 
	 	EMBRAER 190 Additional Aircraft
	 	US$**	 

	3.2	 	The Services and Technical Publications are to be ** . Additional technical publications as
well as other services shall be billed to Buyer in accordance with Embraer’s rates prevailing
at the time Buyer places a purchase order for such additional technical publications or other
services.
	 
	3.3	 	The Aircraft Basic Price shall be escalated according to the Escalation Formula. Such price
as escalated shall be the Aircraft Purchase Price and it will be provided to Buyer ** to the
first day of each Aircraft Contractual Delivery Month.
	 
	4.	 	PAYMENT
	 
	4.1	 	The prices specified in the previous Article shall be paid by Buyer by wire transfer in
immediately available United States dollars funds, to a bank account to be timely informed by
Embraer to Buyer, as follows:

4.1.1 **.

 

			
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	Amended and Restated Purchase Agreement DCT-021/03
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4.1.2 ** .

4.1.3 ** .

4.1.4 Intentionally left in blank.

4.1.5 ** .

	4.2	 	Late Payments:
	 
	 	 	Interest will accrue at the rate of ** on any amount not paid to Embraer as set forth in
Articles 4.1.1 through 4.1.4, of this Article from the date ** days after the date on which
such payments should have been made as therein set forth, until the actual receipt by Embraer
of such amounts. For the payments referred to under Article 4.1.5 hereof, interest shall be
calculated as per Article 7.8 hereunder. Without prejudice to Embraer’s rights set forth in
Article 4.3 below, interest accrued will be invoiced by Embraer on a monthly basis, beginning
one month after date on which payments should have been made, and payment thereof shall be
made by Buyer in accordance with the instructions contained therein.
	 
	4.3	 	Termination for failure to make payments:
	 
	 	 	Without prejudice to the payment of interest on late payments set forth above, should Buyer
fail to make any payment on or before the due date, Embraer shall have the right, at its sole
discretion, to either (i) postpone, at its sole criteria, the relevant Aircraft Contractual
Delivery Month; or (ii) terminate this Agreement in relation to the affected Aircraft in
accordance with Article 20.3 hereinafter, if such failure shall not have been cured within **
Days after the date on which Embraer has issued a written notice to Buyer of such failure.
	 
	4.4	 	Net payments:

	4.4.1	 	All payments to be made by Buyer under this Agreement shall be made without set-off or
withholding whatsoever. If Buyer is obliged by law to make any deduction or withholding from
any such payment, the amount due from Buyer in respect of such payment shall be increased to
the extent necessary to ensure that, after the making of such deduction or withholding,
Embraer receives a net amount equal to the amount Embraer would have received had no such
deduction or withholding been required to be made.

	4.5	 	Payment Date
	 
	 	 	Unless otherwise agreed by the Parties in writing, payment of the amounts referred in Articles
4.1.2, 4.1.3, and 4.1.4 shall be made by Buyer on or before the last Business Day prior to the
** Day of the month in which each of such payments is due.
	 
	5.	 	DELIVERY

 

			
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	 	 	Subject to payment in accordance with Article 4 hereof and the provisions of Articles 7 and 9
hereof, the Aircraft shall be offered by Embraer to Buyer, by means of a written notice, for
inspection, acceptance and subsequent delivery in ** , according to schedules provided on
Attachment E hereto.
	 
	6.	 	CERTIFICATION
	 
	6.1	 	The EMBRAER 190 Aircraft is type certified according to FAR Part 25 amendments 25-1 through
25-117, except section 25.981(c) of Amendment 25-102, Amendment 25-106, Section 25.735(h) of
Amendment 25-107, Amendment 111, Amendment 115 and Amendment 116. On the Scheduled Delivery
Date, Embraer will provide evidence reasonably acceptable to Buyer that each Aircraft is in
compliance with these requirements, as well as the operational requirements of FAR Part 121
(Subparts J and K), except for the items that are under Buyer/operator’s regulatory
responsibility pursuant to the FARs and are not otherwise required to be provided by Embraer
under this Agreement.
	 
	6.2	 	** .
	 
	6.3	 	** .
	 
	7.	 	ACCEPTANCE AND TRANSFER OF OWNERSHIP
	 
	7.1	 	Unless Buyer is notified otherwise and subject to this Agreement, the Aircraft shall be
delivered in accordance with the provisions and schedules specified in Article 5 herein.
Embraer shall give Buyer advance notice of the delivery of each Aircraft as follows: (a) ** .
	 
	7.2	 	On the Scheduled Inspection Date, Buyer shall promptly start inspecting the relevant Aircraft
and Embraer shall provide complete Aircraft delivery documentation for Buyer’s inspection. **.
Buyer shall be allowed a reasonable period of time but in no event greater than ** Working
Days ** to inspect and conduct an acceptance flight of each Aircraft prior to its delivery.
The fuel and insurance for the Aircraft’s acceptance flight(s) and ground inspections will be
provided by Embraer in accordance with Embraer insurance policy.
	 
	7.3	 	If Buyer finds an Aircraft acceptable it shall execute a certificate of acceptance of the
Aircraft and shall promptly make the due payments, if any, according to Article 4 hereof and
accept delivery of such Aircraft, whereupon the necessary title and risk transfer documents
shall be executed in order to effect title transfer. ** .
	 
	7.4	 	Buyer may decline to accept an Aircraft which does not materially comply with the
specification set forth in the relevant Attachment “A” or is not in an airworthy condition.
For the purposes of this Article 7, an Aircraft shall be deemed not to be materially compliant
when one or more of the Aircraft characteristics identified in Article 11.2.1 (i) through
(viii) are adversely affected by such non-compliance vis-à-vis the specification set forth in
the relevant Attachment A **.

 

			
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	7.5	 	If Buyer declines to accept an Aircraft, Buyer shall immediately give Embraer written notice
of all specific reasons for such refusal and Embraer shall have ** Working Days, commencing
on the first Day after receipt of such notice, to take all necessary actions in order to
resubmit the Aircraft to Buyer for re-inspection.
	 
	7.6	 	Buyer shall be allowed ** additional Working Days to re-inspect the Aircraft, starting
immediately upon receipt of notice from Embraer that all necessary actions were taken. The
period required for inspection as well as the one mentioned in item 7.5 above shall not be
considered as part of the grace period provided for in item 9.2.1 hereof. In the event Buyer
declines to accept an Aircraft after this procedure is repeated **, the Parties shall convene
immediately following final refusal to accept the Aircraft in order to negotiate possible
solutions. If within ** Days counted from the date in which Embraer receives notice of such
final refusal to accept the Aircraft, Embraer and Buyer fail to reach an agreement, then
either Party may terminate this Agreement with respect to the affected Aircraft without
liability to either Party, ** .
	 
	7.7	 	Should Buyer fail (other than pursuant to Article 7.4 or 7.6) to perform the acceptance and
transfer of title to the Aircraft within the periods provided for and in accordance with this
Article 7, Embraer shall be entitled, at its reasonable discretion, to either re-negotiate the
terms of this Agreement with Buyer or terminate this Agreement with regard to the affected
Aircraft pursuant to Article 20.3. Embraer’s rights to re-negotiate or terminate this
Agreement shall only become effective if such default of Buyer has not been cured within **
Days counted from the Scheduled Inspection Date.
	 
	7.8	 	Notwithstanding the provisions of Article 7.7 above and in addition to Embraer’s rights
pursuant to Article 20.3 should Buyer fail (other than pursuant to Article 7.4 or 7.6) to
perform the acceptance and transfer of title to the Aircraft within the time period specified
in Articles 7.2, 7.3, 7.5 and 7.6 above, as applicable, interest will accrue at the rate of **
per month over the unpaid balance of the relevant Aircraft Purchase Price, prorated from the
date on which Buyer should have completed the inspection or re-inspection of the Aircraft, as
the case may be, until the date in which transfer of title occurs or until the date Embraer
terminates this Agreement pursuant to Article 7.7 above, whichever occurs first. Without
prejudice to Embraer’s rights set forth in Article 7.7 above, interest accrued will be
invoiced by Embraer on a monthly basis, beginning one month after the date on which the
Aircraft acceptance or transfer of title should have been performed, and payment thereof shall
be made by Buyer in accordance with the instructions contained therein.
	 
	7.9	 	** .
	 
	8.	 	STORAGE CHARGE
	 
	8.1	 	A storage charge equal to USD ** per Day shall be charged by Embraer to Buyer commencing on:

 

			
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	8.1.1	 	Buyer’s failure to be present to perform inspection or re-inspection of an Aircraft, per the
date or time period specified in writing by Embraer, according to Articles 5 and/or 7 hereof,
as applicable.
	 
	8.1.2	 	Buyer’s acceptance of an Aircraft when Buyer defaults in the fulfillment of any payment due
and in taking title to such Aircraft immediately thereafter.
	 
	8.1.3	 	Buyer’s failure to remove an Aircraft from Embraer’s facilities within ** days after title
transfer has occurred.

	8.2	 	If however, Buyer notifies Embraer in writing ** Days in advance of its expected delay in the
performance of its obligations set forth in Articles 8.1.1, 8.1.2 and 8.1.3 above, the storage
charge shall commence on the ** Day after the occurrence of the events set forth in Articles
8.1.1, 8.1.2 or 8.1.3 above, as applicable.
	 
	8.3	 	In the event that an Aircraft Contractual Delivery Month, Scheduled Inspection Date or
Scheduled Delivery Date must be extended by Embraer from that which is designated in Articles
5 and 7 hereof, due to Buyer’s failure to perform any action or provide any information
contemplated by this Agreement other than the ones specified in the preceding paragraphs, the
storage charge shall commence on the ** Day after the Contractual Delivery Month, Scheduled
Inspection Date or Scheduled Delivery Date relative to such Aircraft, as applicable.
	 
	8.4	 	Buyer shall pay the storage charge as set forth in Articles 8.1. or 8.3. hereinbefore, as
applicable, in United States dollars, per each month of delay or prorated for part thereof,
within ** Business Days after the presentation of each invoice by Embraer.
	 
	9.	 	DELAYS IN DELIVERY
	 
	9.1	 	Excusable Delays:

	9.1.1	 	Embraer shall not be held liable or be found in default for any delays in the delivery of an
Aircraft or in the performance of any act to be performed by Embraer under this Agreement,
resulting from, but not restricted to, the following events or occurrences (hereinafter
referred to as “Excusable Delays”): (a) force majeure (including, but not limited to, war or
state of war, civil war, insurrection, fire, accident, explosion, flood, act of government,
requisition, strike, labor disputes causing cessation or interruption of work, including but
not limited to walkouts, sick-outs, protests or slowdowns), (b) any delay resulting from any
failure by Buyer to perform any action or provide any information contemplated by this
Agreement or (c) delays resulting from any other cause to the extent it is reasonably beyond
Embraer’s control ** .
	 
	9.1.2	 	Within a reasonable period of time (not to exceed ** Days) after the occurrence of any of the
above mentioned events which constitute causes of Excusable Delays in delivery of an Aircraft
or in the performance of any act to be performed by Embraer under this Agreement, Embraer
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	 	 	the effects
expected upon the timing of the performance of its contractual obligations.
	 
	9.1.3	 	Any such delays shall ** . Embraer undertakes to use all commercially reasonable efforts
whenever possible to avoid or remove any such cause of delay and to minimize its effect on the
Scheduled Delivery Date of an Aircraft. ** .
	 
	9.1.4	 	If the cause of such Excusable Delay is such as to last longer than ** Days or to render the
performance of this Agreement impossible, then the Parties shall within ** Days following the
last Day of Excusable Delay as provided for herein, re-negotiate the terms of this Agreement
accordingly; failing which, either Party shall have the right to terminate this Agreement ** .

	9.2	 	Non-Excusable Delays:

	9.2.1	 	If an Aircraft is not made available for inspection for more than ** Business Days after
Scheduled Inspection Date without an Excusable Delay, Buyer will be entitled to claim from
Embraer liquidated damages equal to **, for each Day of delay in excess of the above mentioned
** Business Days, up to the date that the Aircraft is available for inspection and acceptance
by, and subsequent delivery as per Article 7 hereof, ** .

	9.2.2	 	Upon the occurrence of any event which constitutes causes of non Excusable Delays in
delivery of an Aircraft, Embraer shall send a written notice to Buyer, within a reasonable
period of time (not to exceed ** Days), including a description of details involved and an
estimate of the effects expected upon the delivery of the Aircraft. ** .

	9.2.3	 	It is agreed between the Parties that if, with respect to a delayed Aircraft, Embraer does
not receive a claim for liquidated damages as mentioned in Article 9.2.1 above, from Buyer,
within ** Days after the Actual Delivery Date of such Aircraft, Buyer shall be deemed to have
fully waived its right to such liquidated damages.

	9.3	 	Delay Due to Loss or Structural Damage of the Aircraft:
	 
	 	 	Should any Aircraft be destroyed or suffer structural damage before acceptance to the extent
that it becomes commercially useless, Buyer may, **, either take a replacement Aircraft at a
later delivery date to be agreed by the Parties, or terminate this Agreement with respect to
such Aircraft by notice to Embraer given in accordance with Article 23 hereof, without any
liability to either Party. If this Agreement is terminated by either Party with respect to
such Aircraft, such termination shall discharge the Parties from all obligations and
liabilities of the Parties hereunder with respect to such Aircraft and Services, except that
Embraer shall return to Buyer any moneys paid by Buyer towards the purchase of such Aircraft,
**.

 

			
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	10.	 	INSPECTION AND QUALITY CONTROL

	10.1	 	In order to effect inspection and acceptance of the Aircraft as set forth in Article 7
hereinbefore, Buyer shall send one or more authorized representatives to Embraer’s facilities
in order to verify that the Aircraft was manufactured in accordance with the procedures
specified in this Agreement and according to all applicable quality control standards.

	10.2	 	Buyer shall communicate to Embraer the names of its authorized representatives, by means of
written notice, at least ** Days prior to the Scheduled Inspection Date for each Aircraft.

	10.3	 	Such representatives, or other representatives indicated by Buyer, shall be authorized and
duly empowered to sign the acceptance and transfer of title and risk documents and accept
delivery of the Aircraft pursuant to Article 7 hereof.

	10.4	 	To facilitate Buyer’s inspection and acceptance of the Aircraft in accordance with this
Agreement, Embraer shall provide, free of charge, communication facilities (telephone and
facsimile) for Buyer’s authorized representatives, ** .

	10.5	 	Buyer’s authorized representatives shall observe Embraer’s administrative rules and
instructions while at Embraer’s facilities.

	10.6	 	Buyer’s authorized representative shall be allowed exclusively in those areas related to the
subject matter hereof and Buyer agrees to hold harmless Embraer from and against all and any
kind of liabilities in respect to such representatives, for whom Buyer is solely and fully
responsible under all circumstances and in any ** .
	 
	11.	 	CHANGES

	11.1	 	Each Aircraft will comply with the standards defined in the relevant Attachment “A” hereto
and shall incorporate all modifications which are classified as ADs by CTA or the Air
Authority as provided in Article 11.4, or those agreed upon by Buyer and Embraer in accordance
with this Article.

	11.2	 	The Parties hereby agree that changes can be made by Embraer in the design of the Aircraft,
the definition of which and its respective classification shall be in compliance to the
Aircraft type specification, as follows:

	11.2.1	 	Minor Changes: defined as those modifications which shall not adversely affect the
Aircraft in any of the following characteristics:

	 	(i)	 	** ;
	 
	 	(ii)	 	** ;
	 
	 	(iii)	 	** ;
	 
	 	(iv)	 	** ;
	 
	 	(v)	 	** ;

 

			
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	 	(vi)	 	** ;
	 
	 	(vii)	 	** ;
	 
	 	(viii)	 	** .

	11.2.2	 	Major Changes: defined as those modifications which affect at least one of the topics
mentioned in Article 11.2.1.

	11.3	 	** .
	 
	11.4	 	Embraer shall notify Buyer of those Major Changes that are classified as ADs by means of
service bulletins approved by the Air Authority and/or CTA, as appropriate. Service bulletins
that implement such ADs shall be referred to as Mandatory Service Bulletins. Embraer shall
incorporate Mandatory Service Bulletins as follows:

	11.4.1	 	Compliance required before Schedule Delivery Date: ** .
	 
	11.4.2	 	Compliance required after Scheduled Delivery Date: ** .

	11.5	 	Major Changes (other than those which are ADs issued per Article 11.4); ** .
	 
	11.6	 	Any Major Change to the Aircraft, made in accordance with the foregoing paragraphs which
affect the provisions of the relevant Attachment “A” hereto, shall be incorporated in said
Attachment by means of an amendment.
	 
	11.7	 	Except as far as it relates to ADs issued per Article 11.4 by CTA or the Air Authority and
Minor Changes, the Aircraft shall, on the Scheduled Inspection Date, comply with the terms and
conditions of Attachment “A” as from time to time amended pursuant to Article 11.6 above.
Determination of such compliance shall be made by Buyer pursuant to Article 7.
	 
	12.	 	WARRANTY
	 
	 	 	The materials and workmanship relative to the Aircraft subject to this Agreement, will be
warranted in accordance with the terms and conditions specified in Attachment “C” hereto.
If Buyer intends ** to assign the rights and obligations as specified in Article 14 hereof,
it is Buyer’s responsibility to obtain Embraer’s prior written consent, which consent shall
not be unreasonably withheld ** .
	 
	13.	 	PRODUCT SUPPORT PACKAGE
	 
	 	 	Embraer shall supply to Buyer the Product Support Package described in Article 2 of
Attachment “B” hereto, which includes Embraer’s spare parts policy, the Technical
Publications and the Services.
	 
	14.	 	ASSIGNMENT

 

			
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	14.1	 	** . In connection with any other sale or financing of the Aircraft, Buyer may ** by
providing notice to Embraer.
	 
	14.2	 	** .
	 
	14.3	 	** .
	 
	14.4	 	** .
	 
	14.5	 	** .
	 
	14.6	 	Except as provided in this Article 14, either Party’s rights and obligations under this
Agreement may not be assigned without the other Party’s prior written consent.
	 
	15.	 	RESTRICTIONS AND PATENT INDEMNITY
	 
	 	 	This sale does not include the transfer of designs, copyrights, patents, and other similar
rights to Buyer. Subject to Buyer’s duty to immediately advise Embraer of any alleged
copyright or patent infringement, Embraer shall indemnify and hold Buyer harmless with
respect to any claims made against Buyer if the Aircraft infringes copyright, patents or
the proprietary rights of others.
	 
	16.	 	MARKETING PROMOTIONAL RIGHTS
	 
	 	 	Embraer shall have the right to show for marketing purposes, free of any charge, the image
of Buyer’s Aircraft, painted with Buyer’s colors and emblems, affixed in photographs,
drawings, films, slides, audiovisual works, models or any other medium of expression
(pictorial, graphic, and sculptural works), through its standard printed promotional
material. ** .
	 
	17.	 	TAXES
	 
	 	 	Embraer shall pay all taxes, impost, fees, withholding taxes, stamp taxes, documentary
taxes and any other similar or dissimilar taxes, arising from the sale subject of this
Agreement, as may be imposed on such sale under Brazilian laws. All other taxes, impost,
fees, withholding taxes, stamp taxes, documentary taxes and any other similar or dissimilar
taxes (other than taxes based on or measured by Embraer’s net income), as well as any
duties as may be imposed on the sale subject of this Agreement, shall be borne by Buyer.
	 
	 	 	**.
	 
	 	 	**.

 

			
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	18.	 	APPLICABLE LAW
	 
	 	 	This Purchase Agreement shall in all respects be governed by the laws of the State of New
York, including all matters of construction, validity and performance, without giving
effect to principles of conflicts of laws other than section 5-1401 of the New York General
Obligations law. This Purchase Agreement is being delivered in the State of New York.
	 
	19.	 	SUBMISSION TO JURISDICTION
	 
	 	 	Each party hereto hereby irrevocably agrees, accepts and submits to, for itself and in
respect of any of its property, generally and unconditionally, the non-exclusive
jurisdiction of the courts of the State of New York in the City and County of New York and
of the United States for the Southern District of New York, in connection with any legal
action, suit or proceeding with respect to any matter relating to or arising out of or in
connection with this Purchase Agreement or any other operative agreement and fully waives
any objection to the venue of such courts. Furthermore to the fullest extent permitted by
applicable law, each party hereby waives, and agrees not to assert, by way of motion, as a
defense, or otherwise, in any such suit, action or proceeding any claim that it is not
personally subject to the jurisdiction of the above named courts, that the suit, action or
proceeding is brought in an inconvenient forum, or that the venue of the suit, action or
proceeding is improper.
	 
	 	 	THE PARTIES HERETO WAIVE THEIR RESPECTIVE RIGHTS TO TRIAL BY JURY IN ANY LITIGATION ARISING
OUT OF OR RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM OR CROSS-CLAIM THEREIN.
	 
	20.	 	TERMINATION
	 
	20.1	 	Should either Party fail to comply partially or completely with its obligations hereunder, the
other Party shall be entitled to give notice of such failure and to require that such failure
be remedied within the period specified in that notice, which period shall not be less than **
Business Days. Should such failure not be remedied within the period so specified, then the
Party who gave notice of such failure shall be entitled to terminate this Agreement (for
avoidance of doubt such termination shall not apply to any existing applicable warranties for
Aircraft delivered prior to such termination). Should termination occur in accordance with
the foregoing, the defaulting Party shall pay to the non-defaulting Party, as liquidated
damages, an amount determined by mutual agreement or by law. The foregoing provision shall not
apply in any circumstance where a specific right of termination is made available hereunder or
will be made available hereunder upon the expiration of a specific period of time.
Notwithstanding anything to the contrary herein, neither Party shall be liable to the other
Party in any circumstance hereunder for any consequential or punitive damages which may arise
out of, or be connected to, any breach or default under of any term, condition, covenant,
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	 	 	otherwise be entitled to under any applicable law, including but not limited to any claims
sounding in contract, tort, equity or statute.
	 
	20.2	 	Buyer and Embraer shall have the right to terminate this Agreement in respect to the relevant
Aircraft, upon the occurrence of any Excusable Delay of ** Days or longer, unless otherwise
agreed in writing by the Parties, and Buyer shall have the right to terminate this Agreement
in respect to the relevant Aircraft upon the occurrence of any non-Excusable Delay of ** Days
or longer after the last day of the Contractual Delivery Month for such Aircraft Scheduled
Delivery Date, such rights to be exercisable by written notice from one Party to the other to
such effect no earlier than the ** Day as applicable after the last day of the Contractual
Delivery Month. Upon receipt of such notice of termination by Buyer or Embraer, as the case
may be, Embraer shall return to Buyer **, it being hereby agreed by the Parties that, in this
case, no other indemnity shall be due by Embraer to Buyer. ** .
	 
	20.3	 	If Buyer terminates this Agreement before an Aircraft Actual Delivery Date (except when such
termination is for delays in the delivery of an Aircraft, because such delays are Excusable
Delays or non-Excusable Delays, as permitted pursuant to Articles 9.1 and 9.2, ** Embraer
terminates this Agreement in relation to an Aircraft, pursuant to Articles 4.3 or 7.7 hereof,
Buyer shall pay to Embraer (i) damages in ** of the relevant Aircraft Purchase Price for any
terminated Aircraft with Contractual Delivery Months within ** .
	 
	20.4	 	If Buyer terminates this Agreement in respect to an Aircraft pursuant to Article 7.6 hereof,
Embraer, upon Buyer’s request, shall return to Buyer all amounts previously paid by Buyer with
respect to the relevant Aircraft, ** .
	 
	21.	 	PURCHASE OF OPTION AIRCRAFT
	 
	 	 	Buyer shall have the option to purchase up to fifty (50) Option Aircraft with the first
twenty (20) Option Aircraft to be delivered according to schedules provided in Attachment E
hereto. The delivery positions of the remaining thirty (30) Option Aircraft will be
determined pursuant to Article 21.1 below.
	 
	 	 	The Option Aircraft will be supplied in accordance with the following terms and conditions:
	 
	21.1	 	** .
	 
	21.2	 	Intentionally deleted.
	 
	21.3	 	** .
	 
	21.4	 	The unit basic price of each relevant Option Aircraft above mentioned shall be escalated
according to the Escalation Formula contained in Attachment “D” hereto, determining the Option
Aircraft Purchase Price.

 

			
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	21.5	 	The payment of the Option Aircraft Purchase Price shall be made according to the following:

	21.5.1	 	Intentionally deleted.
	 
	21.5.2	 	A non-refundable (except as provided herein) progress payment ** of the unit Option Aircraft
Basic Price, is due and payable ** months prior to each relevant Option Aircraft contractual
delivery date.
	 
	21.5.3	 	A non-refundable (except as provided herein) progress payment of ** of the unit Option
Aircraft Basic Price is due and payable ** months prior to each relevant Option Aircraft
contractual delivery date.
	 
	21.5.4	 	Intentionally left in blank.
	 
	21.5.5	 	The balance of each relevant Option Aircraft Purchase Price is due and payable upon
acceptance of each relevant Option Aircraft by Buyer.
	 
	21.5.6	 	The provisions of Article 4.3 through 4.5 shall apply mutatis-mutandis, to the payments to
be made by Buyer towards the Option Aircraft.

	21.6	 	The option to purchase the Option Aircraft shall be exercised ** no later than ** to the
relevant Contractual Delivery Month. Exercise of the option to purchase the Option Aircraft
shall be accomplished by means of a written notice from Buyer delivered to Embraer by mail,
express delivery or facsimile, return receipt requested.

	21.7	 	If the Option Aircraft are confirmed by Buyer as specified above, (a) Buyer shall, as
relevant, make the initial deposit in an amount of ** of the unit Option Aircraft Basic Price
per each Option Aircraft (the “Option Aircraft Initial Deposit”) which deposits shall be
applied toward the price of the relevant Option Aircraft.

	21.8	 	The product support package to be applied to the Option Aircraft is described in Article 2.4
of Attachment “B”.

	22.	 	INDEMNITY
	 
	22.1	 	** .
	 
	22.2	 	** .
	 
	23.	 	NOTICES
	 
	 	 	All notices permitted or required hereunder shall be in writing in the English
language and sent, by registered mail, telex or facsimile, to the attention of the Director
of Contracts as to Embraer and of the Vice President and

 

			
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	 	 	Treasurer as to Buyer, to the addresses indicated below or to such other address as either
Party may, by written notice, designate to the other.
	 
	23.1	 	EMBRAER:

EMBRAER — Empresa Brasileira de Aeronáutica S.A.

Av. Brigadeiro Faria Lima, 2170

12.227-901 São José dos Campos – SP — Brazil

Telephone: (+55-12) 3927-1410

Facsimile: (+55-12) 3927-1257

	23.2	 	BUYER:

US Airways Group, Inc.

4000 East Sky Harbor Boulevard, CH-VTR

Phoenix, AZ 85034 — USA

Telephone: (480) 693-0800

Facsimile: (480) 693-5886

Copy to:

US Airways Group, Inc.

Deputy General Counsel

4000 East Sky Harbor Boulevard, CH-LAW

Phoenix, AZ 85034 — USA

Telephone: (480) 693-0800

Facsimile: (480) 693-5932

	24.	 	CONFIDENTIALITY
	 
	 	 	Buyer does not have the right to disclose the terms of this Agreement, and Buyer agrees not
to disclose any portion of this Agreement or its Attachments, amendments or any other
supplement, to any third party without Embraer’s written consent, except as required by
law. Without limiting the foregoing, in the event Buyer is legally required to disclose the
terms of this Agreement, the Parties agree to exert their reasonable best efforts to
request confidential treatment of the clauses and conditions of this Agreement relevantly
designated by either Party as confidential. Without limiting its obligations pursuant to
the preceding sentence, Buyer agrees that if it is required, in the opinion of counsel, to
file publicly or otherwise disclose the terms of this Agreement under applicable federal
and/or state securities or other laws, it shall promptly (but in no case less than **
Business Days prior to the proposed filing in question) notify Embraer so that Embraer has
a reasonable opportunity to contest or limit the scope of such required disclosure, and
Buyer shall request, and shall use its best reasonable efforts to obtain, confidential
treatment for such sections of this Agreement as Embraer may designate. ** .
	 
	25.	 	SEVERABILITY

 

			
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	 	 	If any provision or part of a provision of this Agreement or any of the Attachments shall
be, or be found by any authority or court of competent jurisdiction to be, invalid or
unenforceable, such invalidity or unenforceability shall not affect the other provisions or
parts of such provisions of this Agreement, all of which shall remain in full force and
effect.
	 
	26.	 	NON-WAIVER
	 
	 	 	Except as otherwise specifically provided to the contrary in this Agreement, any Party’s
refrainment from exercising any claim or remedy provided for herein shall not be deemed a
waiver of such claim or remedy, and shall not relieve the other Party from the performance
of such obligation at any subsequent time or from the performance of any of its other
obligations hereunder.
	 
	27.	 	INTEGRATED AGREEMENT
	 
	 	 	All Attachments referred to in this Agreement and/or attached hereto are, by such reference
or attachment, incorporated in this Agreement.
	 
	28.	 	NEGOTIATED AGREEMENT
	 
	 	 	Buyer and Embraer agree that this Agreement, including all of its Attachments, has been the
subject of discussion and negotiation and is fully understood by the Parties, and that the
rights, obligations and other mutual agreements of the Parties contained in this Agreement
are the result of such complete discussion and negotiation between the Parties.
	 
	29.	 	COUNTERPARTS
	 
	 	 	This Agreement may be signed by the Parties in any number of separate counterparts with the
same effect as if the signatures thereto and hereto were upon the same instrument and all
of which when taken together shall constitute one and the same instrument.
	 
	30.	 	ENTIRE AGREEMENT
	 
	 	 	This Agreement constitutes the entire agreement of the Parties with respect to the sale
described as its subject and supersedes all previous and connected negotiations,
representations and agreements between the Parties. This Agreement may not be altered,
amended or supplemented except by a written instrument executed by the Parties.

			
	 	 	 
	Amended and Restated Purchase Agreement DCT-021/03
	 	Page 20 of 21

 

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by
their proper and duly authorized officers and to be effective as of the day and year first above
written.

	 	 	 	 	 	 	 	 	 
	EMBRAER — Empresa Brasileira	 	US Airways Group, Inc.	 	 
	de Aeronáutica S.A.	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Horacio Aragones Forjaz
	 	By:
	 	/s/ Thomas T. Weir	 	 
	 

	 	 
	 	 	 	 	 	 
	Name:

	 	Horacio Aragones Forjaz
	 	Name:
	 	Thomas T. Weir	 	 
	Title:

	 	Executive Vice President

Corporate Communication
	 	Title:
	 	Vice President & Treasurer	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Artur Coutinno	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	Name:

	 	Artur Coutinno	 	 	 	 	 	 
	Title:

	 	Executive Vice President of
Industrial Operations	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	Date:	 	 	 	Date: 6/13/2006	 	 
	Place:	 	 	 	Place: Tempe, Arizona	 	 

	 	 	 	 	 
	Witnesses:

	 	Witnesses:
	 	 
	/s/ Fernando Bueno

	 	/s/ Ann F. Halton	 	 
	 

	 	 	 	 
	Name: Fernando Bueno

	 	Name: Ann F. Halton	 	 

			
	 	 	 
	Amended and Restated Purchase Agreement DCT-021/03
	 	Page 21 of 21

 

 

ATTACHMENT “A”

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ATTACHMENT B

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EXHIBIT “1” TO ATTACHMENT “B”

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EXHIBIT “2” TO ATTACHMENT “B”

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ATTACHMENT “C”

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ATTACHMENT “D”

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ATTACHMENT “E”

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**

     The delivery schedule will begin with 3 in 4Q06, 8 in 2007, and 14 in 2008. The airline does not have any additional aircraft deliveries scheduled until 2009.

 

			
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AMENDED AND RESTATED LETTER AGREEMENT

DCT-022/03

WHEREAS, on May 9, 2003 Embraer-Empresa Brasileira de Aeronautica S.A. (“Embraer”) and US
Airways Group Inc. (“Buyer”) entered into Letter Agreement DCT-022/03 (“Letter Agreement
DCT-022/03”);

WHEREAS, Buyer and its various affiliates commenced bankruptcy cases in the United States
Bankruptcy Court for the Eastern District of Virginia, Alexandria Division (“Bankruptcy Court”) on
September 12, 2004 in the matter entitled In re US Airways, et al., Case No. 04-13819;

WHEREAS, on September 16, 2005 the Bankruptcy Court entered an order (“Confirmation Order”)
confirming a Joint Plan of Reorganization of the Buyer (“Plan”) which had an effective date of
September 27, 2005;

WHEREAS, pursuant to the Plan the Buyer was authorized to place the Letter Agreement DCT-022/03 on
a post effective date determination schedule;

WHEREAS, on February 16, 2006 the Bankruptcy Court approved a Settlement and Assumption Term Sheet
dated February 9, 2006 (“Term Sheet”) between the Buyer and Embraer, which among other things
required the Parties to amend and restate the Letter Agreement DCT-022/03; and

WHEREAS, the Parties desire to amend and restate the Letter Agreement DCT-022/03 to comply with the
Term Sheet as approved by the Bankruptcy Court on February 16, 2006;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged and agreed, the Parties hereto agree as follows this
___ day of June 2006;

RESTATEMENT:

Letter Agreement DCT-022/03 is hereby fully and completely amended and restated in its entirety
pursuant to the terms hereof and shall be without any further force or effect, and the Parties’
agreement in regard to the subject matter hereof shall be solely contained in this Amended and
Restated Letter Agreement DCT-022/03 and the Attachments hereto (“Agreement”).

This Agreement constitutes an amendment and modification of the Amended and Restated Purchase
Agreement DCT-021/03 (“Purchase Agreement”) and sets forth additional agreements of the Parties
with respect to the matters set forth in the Purchase Agreement. All terms defined in the Purchase
Agreement shall have the same meaning when used herein, and in case of any conflict between this
Agreement and the Purchase Agreement, this Agreement shall govern.

	 	1.	 	Intentionally deleted

 

			
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AMENDED AND RESTATED LETTER AGREEMENT

DCT-022/03

	 	2.	 	CONVERSION

2.1. Conversion to ** .

** .

A. The Basic Prices shall be as follows, based on the optional equipment and
configuration provided in Schedule “A-1”, “A-2” and “A-3” respectively hereto:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	EMBRAER **	 	EMBRAER **	 	EMBRAER **	 
	 	 	US$ in **	 	US$ in **	 	US$ in **	 
	Aircraft Basic Price
	 	 	**	 	 	 	**	 	 	 	**	 	 

(*) In the event of conversion of any Additional Aircraft into a model **, the Aircraft
Basic Price for such converted Aircraft shall be ** economic conditions.

B. ** .

C. ** .

D. ** .

2.2 Additional Optional Equipment/Configuration Changes

Any additional Buyer selected optional equipment and/or specific interior configuration
changes will affect the Aircraft Basic Price for each converted Aircraft accordingly. The
Basic Price for each of the converted Aircraft is subject to the applicable Escalation
Formula.

2.3 Conversion to **

** .

	3.	 	Aircraft Price **

	 	3.1	 	** :

	 	 	 	ü **
	 
	 	 	 	ü **

** .

** .

	 	3.2	 	** .
	 
	 	3.3	 	** .

 

			
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AMENDED AND RESTATED LETTER AGREEMENT

DCT-022/03

	 	3.4	 	** .

	4.	 	EQUIPMENT CHANGES/IMPROVEMENTS

	 	4.1	 	BFE ** 

** .

	 	4.2	 	BFE Election
	 
	 	 	 	In the event Buyer elects to have a certain BFE item installed in the Aircraft, Buyer
shall send a written notice to Embraer. Embraer, at its reasonable discretion, will
analyze, in good faith, the feasibility of such change, and depending on the results of
such analysis, will present to Buyer a Proposal of Major Change with the terms and
conditions for such incorporation, or will give written notice to Buyer that such request
will not be incorporated in the Aircraft together with a written explanation of why such
request will not be incorporated in the Aircraft. Buyer shall be responsible for the costs
associated with certification, procuring and shipping all BFE in DDP conditions (Incoterms
2000) to Embraer’s facilities in Sao Jose dos Campos, Brazil or, for interior items
covered by Section 3.3 of the relevant Attachment A or Schedule A-1, A-2 and A-3, to C&D
Aerospace’s facilities in Los Angeles. Buyer must also provide interface and installation
data and other required information to install and certify the BFE as may be reasonably
required by Embraer. Should Buyer’s request for a BFE item be accepted by Embraer,
Embraer shall inform Buyer by means of a Proposal of Major Change of the Basic Price
adjustment necessary to reflect such change, and also will inform Buyer, in writing of the
lead time of such BFE item in order to not affect the certification process and /or the
production/delivery schedule of any Aircraft. The BFE components are not included in
Aircraft Warranty Certificate or in any other guarantee provided by Embraer in connection
with the purchase of the Aircraft, and may affect the other Aircraft guarantees.
	 
	 	4.3	 	** MTOW
	 
	 	 	 	Should increases in allowable weights (Maximum Ramp Weight, Maximum Zero Fuel Weight,
Maximum Takeoff Weight, Maximum Landing Weight) become certified by the FAA and available
from Embraer, for any Aircraft model, Embraer shall offer ** . These will be made
available to Buyer as follows:

	 	(i)	 	** ;
	 
	 	(ii)	 	** ;
	 
	 	(iii)	 	** .

It is understood that the labor required to incorporate any Service Bulletins on Aircraft
already delivered to Buyer will be provided by Buyer ** . Embraer will

 

			
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AMENDED AND RESTATED LETTER AGREEMENT

DCT-022/03

provide or
arrange for appropriate technical advice and assistance to Buyer with respect to the
incorporation of such Service Bulletins ** . ** .

	 	4.4	 	 ** highest engine thrust
	 
	 	 	 	Should any increased thrust versions of engines installed on any of the Aircraft
become certified by the FAA by the relevant engine manufacturer and such higher thrust
engines are available from the relevant engine manufacturer and Embraer, Embraer shall
offer ** . These will be made available to Buyer as follows:

	 	(i)	 	** ,
	 
	 	(ii)	 	** .

It is understood that the labor required to incorporate any Service Bulletins on Aircraft
already delivered to Buyer will be provided by Buyer ** . Embraer will provide or arrange
for appropriate technical advice and assistance to Buyer with respect to the incorporation
of such Service Bulletins ** . ** .

	5.	 	Advertising Allowances

** .

	6.	 	Additional Product Support

Embraer shall provide additional product support to Buyer on the terms and conditions of
Schedule ** to this Agreement.

	7.	 	Additional Aircraft ** Guarantees

Embraer shall provide ** guarantees for the Aircraft pursuant to the terms and conditions of
Schedule ** to this Agreement.

	8.	 	** Guarantees

Embraer shall provide ** guarantees for the Aircraft pursuant to the terms and conditions of
Schedule ** to this Agreement.

	9.	 	Service Life Policy

Embraer shall provide a service life policy for the Aircraft pursuant to the terms and
conditions of Schedule ** to this Agreement.

	10.	 	** Guarantees

Embraer will provide an ** Guarantee in accordance with the terms and conditions described in
Schedule ** to this Agreement. ** .

	11.	 	**

** .

 

			
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AMENDED AND RESTATED LETTER AGREEMENT

DCT-022/03

	12.	 	Simulator Data Package

** .

	13.	 	** Training Support for EMBRAER ** Aircraft

	 	13.1  **: ** .	 	 
	 
	 	13.2
 **: 	 	

** .

	 	13.3	 	Intentionally deleted
	 
	 	13.4	 	Intentionally deleted 

	14.	 	**Training Products **

	 	14.1	 	** : ** .
	 
	 	14.2	 	** :

** .

	 	14.3	 	Intentionally deleted

	15.	 	** .

** .

	16.	 	Intentionally Deleted
	 
	17.	 	Intentionally deleted
	 
	18.	 	**
	 
	A.	 	** .
	 
	B.	 	** .
	 
	19.	 	**

** .

	20.	 	**

** .

 

			
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AMENDED AND RESTATED LETTER AGREEMENT

DCT-022/03

	21.	 	Confirmation of the Additional Aircraft

The Additional Aircraft are subject to confirmation by Buyer as follows:

** .

	22.	 	**
	 
	A.	 	** .
	 
	B.	 	** .
	 
	23.	 	Regional Carrier Assignment

** .

     SCHEDULES:

     **

 

			
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AMENDED AND RESTATED LETTER AGREEMENT

DCT-022/03

IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered
by their proper and duly authorized officers and to be effective as of the day and year first above
written.

	 	 	 	 	 	 	 	 	 	 	 
	Embraer – Empresa Brasileira de	 	 	 	     US Airways Group, Inc.	 	 
	Aeronáutica S.A.	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Horacio Aragones Forjaz
	 	 	 	     By:
	 	/s/ Thomas T. Weir	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Name:

	 	Horacio Aragones Forjaz
	 	 	 	     Name:
	 	Thomas T. Weir	 	 
	Title:

	 	Executive Vice President
	 	 	 	Title:   
	 	Vice President & Treasurer	 	 
	 

	 	Corporate Communication	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Artur Coutinno	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Artur Coutinno	 	 	 	 	 	 	 	 
	Title:

	 	Executive Vice President of	 	 	 	 	 	 	 	 
	 

	 	Industrial Operations	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 
	Witness:

	 	/s/ Fernando Bueno
	 	 	 	Witness:
	 	/s/ Ann F. Halton
	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Name:

	 	Fernando Bueno
	 	 	 	   Name:
	 	Ann F. Halton	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Place:

	 	 	 	 	 	   Place:
	 	Tempe, Arizona U.S.A.	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	   Date:
	 	6/13/2006	 	 
	 

	 	 	 	 	 	 	 	 	 	 

 

			
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SCHEDULE “A-1”

**

**

 

			
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SCHEDULE “A-2”

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SCHEDULE “A-3”

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SCHEDULE “C”

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**

 

			
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EXHIBIT “A” TO SCHEDULE “C”

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EXHIBIT “B” TO SCHEDULE “C”

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EXHIBIT “C” TO SCHEDULE “C”

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SCHEDULE “E”

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SCHEDULE “F”

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SCHEDULE “G”**

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SCHEDULE “G”

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SCHEDULE “G”

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ATTACHMENT “G”

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SCHEDULE “H”

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