Document:

EX-10.32

  
   
    Exhibit 10.32 

    INFORMATION IN THIS EXHIBIT IDENTIFIED BY BRACKETS IS CONFIDENTIAL AND HAS BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10)(IV) OF REGULATION S-K BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT FEDEX TREATS AS PRIVATE OR CONFIDENTIAL. 

    Supplemental Agreement No. 23 

    to 

    Purchase Agreement No. 3157 

    between 

    The Boeing Company 

    And 

    Federal Express Corporation 

    Relating to Boeing Model 777-FREIGHTER Aircraft 

    THIS SUPPLEMENTAL AGREEMENT, entered into as of the 10th day of December 2013, by and between THE BOEING COMPANY (Boeing) and FEDERAL EXPRESS CORPORATION (Customer); 

    W I T N E S S E T H: 

    A. WHEREAS, the parties entered into that certain Purchase Agreement No. 3157, dated November 7, 2006 (Purchase Agreement), relating to the purchase and sale of certain Boeing Model 777-FREIGHTER Aircraft (Aircraft); and 

    B. WHEREAS, Customer desires to reschedule the delivery date of eleven (11) Option Aircraft under Letter Agreement 6-1162- 

    RRO-1062 to the Purchase Agreement as shown in the table below: 

     

    			
	 Existing Delivery Dates
 of Option Aircraft
	  	 Revised Delivery Dates
 of Option Aircraft

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

     

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	P.A. No. 3157	  	1	  	SA 23

    BOEING PROPRIETARY 

   

  
   

  

  
   
    NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties hereto agree to supplement the 

    Purchase Agreement as follows: 

    All terms used herein and in the Purchase Agreement, and not defined herein, shall have the same meaning as in the Purchase Agreement. 

     

    	1.	 Remove and replace, in its entirety, the “Table of Contents” with the revised Table of Contents, attached hereto, to reflect the changes made by this Supplemental Agreement No. 23. 

     

    	2.	 The Option Aircraft described in Recital Paragraph B are hereby rescheduled as set forth in Recital Paragraph B. Remove and replace, in its entirety, Attachment to Letter Agreement 6-1162-RRO-1062 with a revised Attachment, attached hereto, to reflect such rescheduling. The parties acknowledge and agree that the Option Aircraft rescheduling referenced herein is not being made under Article 4.2 of Letter Agreement 6-1162-RRO-1062; accordingly, with respect to the foregoing rescheduled Option Aircraft, (i) [*], (ii) [*] and (iii) the rescheduled Option [*] to the end of the then-current delivery stream. 

     

    	3.	 Customer and Boeing have previously executed letter agreement 6-1162-SCR-186 concerning certain terms related to [*] Engine Hard Mount Kits. The parties agree to add this letter agreement to the Purchase Agreement in this Supplemental Agreement No. 23. 

     

    	4.	 [*] Accordingly, the parties agree to add a new letter agreement to the Purchase Agreement in this Supplemental Agreement No. 23 to address [*]. Such letter agreement number is 6-1162-SCR-193 and the letter is also added to the Table of Contents herein. 

     

     

     

     

     

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	P.A. No. 3157	  	2	  	SA 23

    BOEING PROPRIETARY 

   

  
   

  

  
   
    	5.	 This Supplemental Agreement No. 23 to the Purchase Agreement shall not be effective unless executed and delivered by the parties on or prior to December 6, 2013. 

     

    	6.	 Notwithstanding the foregoing Article 5, this Supplemental Agreement No. 23 shall not be effective unless and until, and the matters expressed herein are expressly conditioned upon, Customer receiving approval from the board of directors of Customer’s parent company, FedEx Corporation. Should such approval not be granted and confirmed in writing by Customer to Boeing by December 11, 2013, this Supplemental Agreement shall automatically terminate and be null and void in all respects, and neither party shall owe any obligation to the other party with respect to the matters expressed herein; provided, however, no such termination shall otherwise impact the parties’ rights and obligations existing under the Purchase Agreement, as amended or otherwise modified, prior to this Supplemental Agreement. For the sake of clarity, neither party shall be deemed to be in default hereunder for failing to have performed any obligation created under this Supplement Agreement, including without limitation any payment obligation, prior to the receipt by Boeing of the aforementioned written confirmation. In addition to the foregoing, this Supplemental Agreement No. 23 to the Purchase Agreement shall not be effective unless Customer and Boeing execute and deliver Supplemental Agreement No. 4 to Purchase Agreement No. 3712 on or before December 11, 2013. 

    EXECUTED as of the day and year first above written. 

     

    									
			
	THE BOEING COMPANY	  	    	  	FEDERAL EXPRESS CORPORATION
					
	By:	  	 /s/ Stuart C. Ross
	  		  	By:	  	 /s/ Phillip C. Blum

	Its:	  	 Attorney-In-Fact
	  		  	Its:	  	 VP Aircraft Acquisitions

     

    					
	P.A. No. 3157	  	3	  	SA 23

    BOEING PROPRIETARY 

   

  
   

  

  
   
    TABLE OF CONTENTS 

     

    							
	 	 	 	  	SA
NUMBER	 
	ARTICLES	 	 	  	 	 
			
	 1.
	 	Quantity, Model and Description	  			
	 2.
	 	Delivery Schedule	  			
	 3.
	 	Price	  			
	 4.
	 	Payment	  			
	 5.
	 	Miscellaneous	  			
			
	 TABLE
	 		  			
			
	 1.
	 	Aircraft Information Table	  	 	15	 
	 1A
	 	Block B Firm Aircraft Information Table	  	 	22	 
	 1B
	 	Block B Conditional Firm Aircraft Information Table	  	 	21	 
	 1C
	 	Block C Aircraft Information Table	  	 	13	 
	 1C1
	 	Block C Aircraft Information Table (MSN 39285)	  	 	11	 
	 1C2
	 	Block C Aircraft Information Table	  	 	20	 
	 1D
	 	Block D Aircraft Information Table	  	 	20	 
			
	 EXHIBIT
	 		  			
			
	 A.
	 	Aircraft Configuration	  	 	4	 
	 A1.
	 	Aircraft Configuration (Block B Aircraft)	  	 	4	 
	 A2.
	 	Aircraft Configuration (Block C Aircraft except MSN 39285)	  	 	11	 
	 A3.
	 	Aircraft Configuration (Block C Aircraft w/ MSN 39285)	  	 	11	 
	 A4.
	 	Aircraft Configuration (Block D Aircraft)	  	 	12	 
	 B.
	 	Aircraft Delivery Requirements and Responsibilities	  			
		
	 SUPPLEMENTAL EXHIBITS
	  			
			
	 AE1.
	 	Escalation Adjustment/Airframe and Optional Features	  			
	 CS1.
	 	Customer Support Variables	  			
	 EE1.
	 	Engine Escalation/Engine Warranty and Patent Indemnity	  			
	 SLP1.
	 	Service Life Policy Components	  			

     

    					
	P.A. No. 3157	  	4	  	SA 23

    BOEING PROPRIETARY 

   

  
   

  

  
   
    					
	 	  	 	  	 SA
 NUMBER

		
	LETTER AGREEMENT	  	 
			
	3157-01	  	777 Spare Parts Initial Provisioning	  	
			
	3157-02	  	Demonstration Flight Waiver	  	
			
	6-1162-RCN-1785	  	Demonstrated Compliance	  	
			
	6-1162-RCN-1789	  	Option Aircraft	  	Exercised
			
		  	Attachment to Letter 6-1162-RCN-1789	  	in SA #4
			
	6-1162-RCN-1790	  	Special Matters	  	
			
	6-1162-RCN-1791	  	Performance Guarantees	  	  4
			
	6-1162-RCN-1792	  	Liquidated Damages Non-Excusable Delay	  	
			
	6-1162-RCN-1793	  	Open Configuration Matters	  	
			
	6-1162-RCN-1795	  	AGTA Amended Articles	  	
			
	6-1162-RCN-1796	  	777 First-Look Inspection Program	  	
			
	6-1162-RCN-1797	  	Licensing and Customer Supplemental Type Certificates	  	
			
	6-1162-RCN-1798	  	777 Boeing Converted Freighter	  	Deleted in SA #4
			
	6-1162-RCN-1798 R1	  	777 Boeing Converted Freighter	  	  4
			
	6-1162-RCN-1799	  	[*]	  	
			
	6-1162-RRO-1062	  	Option Aircraft	  	  4
			
		  	Attachment to Letter 6-1162-RRO-1062	  	23
			
	6-1162-RRO-1065	  	Performance Guarantees for Block B Aircraft	  	  4
			
	6-1162-RRO-1066R1	  	Special Matters for Block B Aircraft	  	22
			
	6-1162-RRO-1067	  	Special Matters for Option Aircraft detailed in	  	  4
			
		  	Letter Agreement 6-1162-RRO-1062	  	
			
	6-1162-RRO-1068	  	Special Provision – Block B Aircraft	  	  4
			
	FED-PA-LA-1000790R3	  	Special Matters for Block C Aircraft	  	20
			
	FED-PA-LA-1001683R2	  	Special Matters for Block D Aircraft	  	19
			
	6-1162-RRO-1144R7	  	[*] as related to SAs #8, #13 through #16, SA #18 through SA #20	  	20
			
	6-1162-SCR-137	  	777F Miscellaneous Matters	  	20
			
	6-1162-SCR-154	  	[*] Letter	  	22
			
	6-1162-SCR-155	  	[*] Engine Hard Mount Letter	  	22

     

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	P.A. No. 3157	  	5	  	SA 23

    BOEING PROPRIETARY 

   

  
   

  

  
   
    					
	6-1162-SCR-186	  	[*] Non-Isolated Engine Mounts Letter	  	23
			
	6-1162-SCR-193	  	[*] Matters	  	23

     

     

     

     

     

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	P.A. No. 3157	  	6	  	SA 23

    BOEING PROPRIETARY 

   

  
   

  

  
   
    					
	 SUPPLEMENTAL AGREEMENTS
	  	 	  	 DATED AS OF:

	Supplemental Agreement No. 1	  		  	May 12, 2008
	Supplemental Agreement No. 2	  		  	July 14, 2008
	Supplemental Agreement No. 3	  		  	December 15, 2008
	Supplemental Agreement No. 4	  		  	January 9, 2009
	Supplemental Agreement No. 5	  		  	January 11, 2010
	Supplemental Agreement No. 6	  		  	March 17, 2010
	Supplemental Agreement No. 7	  		  	March 17, 2010
	Supplemental Agreement No. 8	  		  	April 30, 2010
	Supplemental Agreement No. 9	  		  	June 18, 2010
	Supplemental Agreement No. 10	  		  	June 18, 2010
	Supplemental Agreement No. 11	  		  	August 19, 2010
	Supplemental Agreement No. 12	  		  	September 3, 2010
	Supplemental Agreement No. 13	  		  	August 27, 2010
	Supplemental Agreement No. 14	  		  	October 25, 2010
	Supplemental Agreement No. 15	  		  	October 29, 2010
	Supplemental Agreement No. 16	  		  	January 31, 2011
	Supplemental Agreement No. 17	  		  	February 14, 211
	Supplemental Agreement No. 18	  		  	March 31, 2011
	Supplemental Agreement No. 19	  		  	October 27, 2011
	Supplemental Agreement No. 20	  		  	December 14, 2011
	Supplemental Agreement No. 21	  		  	June 29, 2012
	Supplemental Agreement No. 22	  		  	December 11, 2012
	Supplemental Agreement No. 23	  		  	December 10, 2013

     

    					
	P.A. No. 3157	  	7	  	SA 23

    BOEING PROPRIETARY 

   

  
   

  

  
   
     

    					
	   
	  		  	 The Boeing Company

	  		  	 P.O. Box 3707

	  		  	 Seattle, WA 98124-2207

     

     

    6-1162-SCR-186 

    October 1, 2013 

    Federal Express Corporation 

    3131 Democrat Road 

    Memphis, TN 38118 

     

    			
	Attention:	 	Mr. Curt Gobbell
		 	Manager, Airframe Forecasting and Analysis

     

    					
	Subject:	  	    	  	[*], “ENGINE MOUNTS - REPLACE ISOLATED ENGINE MOUNTS WITH NON-ISOLATED ENGINE MOUNTS ([*] ENGINES)”

    	

     

    					
	References:	  	1.	  	Purchase Agreement No. 3157 (Purchase Agreement) between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to Model 777F aircraft, collectively the (Aircraft);
			
		  	2.	  	Boeing letter agreement 6-1162-SCR-155 (Letter Agreement); and
			
		  	3.	  	Boeing offer 6-1131-CMM-LLO-10136, Master Change No. 7120MK5114 dated September 11, 2013.

     

    	1.	 Background. 

    Boeing agreed to provide Customer certain business considerations related to [*] Engine Hard Mount Kits (Kits) as detailed under the Letter Agreement. At the time of execution of said Letter Agreement, Customer had ordered [*] Kits on a cumulative basis. 

    Subsequent to the date of execution of the Letter Agreement, Boeing has provided Customer three separate Master Change proposals relating to the Kits as follows: 

     

    	 	a.	 6-1131-CMM-LLO-07919 – For the purchase of [*] Kits; executed by Customer on May 1, 2013; 

     

    	 	b.	 6-1131-CMM-LLO-08048 – For the purchase of [*] Kits; executed by Customer on May 16, 2013; and 

     

    	 	c.	 6-1131-CMM-LLO-10136 – For the purchase of [*] Kits; executed by Customer on September 20, 2013. 

    On a cumulative basis, the total number of Kits ordered by Customer, including the initial quantity of [*] Kits, through item 2 above is [*] Kits. Of the [*] Kits included in item c, (i) [*] of the Kits will fall under the terms of paragraph 2 of the Letter Agreement and (ii) [*] of the Kits will fall under the terms of paragraph 3 of the Letter Agreement, except as described in the paragraph immediately below. 

     

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	6-1162-SCR-186    	  		  	October 1, 2013

    BOEING PROPRIETARY 

   

  
   

  

  
   
      

     

    	2.	 [*] Memorandum Applicable to Kits [*] Purchased by Customer. 

     

    	 	     [*]	 

     

    	3.	 Confidential Treatment. 

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

     

    					
	AGREED AND ACCEPTED this 	  		  	
			
	 28 October 2013
	  		  	
	Date	  		  	
			
	THE BOEING COMPANY	  		  	FEDERAL EXPRESS CORPORATION
			
	 /s/ Stuart C. Ross
	  		  	 /s/ Mark S. Blair

	Signature	  		  	Signature
			
	 Stuart C. Ross
	  		  	 Mark S. Blair

	Printed Name	  		  	Printed Name
			
	 Attorney-In-Fact
	  		  	 VP

	Title	  		  	Title

     

     

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	 6-1162-SCR-186     
	  		  	October 1, 2013

    BOEING PROPRIETARY 

   

  
   

  

  
   
    6-1162-SCR-193 

    November 29, 2013 

    Federal Express Corporation 

    3131 Democrat Road 

    Memphis, TN 38118 

     

    					
	Attention:	  		  	Mr. Kevin Burkhart
		  	  	  	Managing Director – Aircraft Acquisitions & Sales
			
		  		  	Mr. Bradley Harris
		  		  	Senior Attorney
			
	Subject:	  		  	[*] Matters
			
	References:	  		  	Purchase Agreement 3157 between The Boeing Company (Boeing) and Federal Express Corporation (Customer) dated November 7, 2006 (Purchase Agreement) relating to the purchase of 777F aircraft (Aircraft).

    Any capitalized term used but not defined herein shall have the meaning ascribed to it in the Purchase Agreement. 

     

    	1.	 Background. 

     

    	 	     [*]	 

    The purpose of this Letter Agreement is to document certain terms and conditions under which [*]. 

     

    	2.	 [*]. 

     

    	 	     [*]	 

     

    	3.	 [*]. 

     

    	 	     [*]	 

     

    	4.	 Other Matters. 

     

    	 	     [*]	 

     

    	5.	 Confidential Treatment. 

    Customer understands that Boeing considers certain commercial and financial information contained in this business consideration as confidential. Each of Customer and Boeing agree that it will treat this business consideration and the information contained herein as confidential. Customer agrees to limit the disclosure of the contents of this business consideration to employees of Customer with a need to know and who understand that they are 

     

     

     

     

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

   

  
   

  

  
   
      

    not to disclose its content to any other person or entity without the prior written consent of Boeing. Notwithstanding the foregoing, Customer may disclose this business consideration and the terms and conditions herein to its parent company, FedEx Corporation, to the Board of Directors of its parent corporation, FedEx Corporation, to its professional advisors under a duty of confidentiality with respect hereto, and as required by law. 

    Very truly yours, 

     

    									
			
	THE BOEING COMPANY	  	    	  	FEDERAL EXPRESS CORPORATION
					
	By	  	 /s/ Stuart C. Ross
	  		  	By	  	 /s/ Phillip C. Blum

	Its	  	 Attorney-In-Fact
	  		  	Its	  	 VP Aircraft Acquisitions

    ACCEPTED AND AGREED TO this 

    Date: December 10, 2013 

     

     

     

    Omitted Attachments 

    Certain attachments to this exhibit regarding delivery and pricing of certain B777F aircraft manufactured by The Boeing Company for FedEx have been omitted pursuant to Item 601(a)(5) of Regulation S-K because the information contained therein is not material and is not otherwise publicly disclosed. FedEx will furnish supplementally copies of these attachments to the Securities and Exchange Commission or its staff upon request.EX-10.33

  
   
    Exhibit 10.33 

    INFORMATION IN THIS EXHIBIT IDENTIFIED BY BRACKETS IS CONFIDENTIAL AND HAS BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10)(IV) OF REGULATION S-K BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT FEDEX TREATS AS PRIVATE OR CONFIDENTIAL. 

    FedEx contract # 07-0255—030 

    Supplemental Agreement No. 24 

    to 

    Purchase Agreement No. 3157 

    between 

    The Boeing Company 

    And 

    Federal Express Corporation 

    Relating to Boeing Model 777-FREIGHTER Aircraft 

    THIS SUPPLEMENTAL AGREEMENT No. 24 (SA-24), entered into as of the 4 th day of May 2016, by and between THE BOEING COMPANY (Boeing) and FEDERAL EXPRESS CORPORATION (Customer); 

    W I T N E S S E T H : 

    A. WHEREAS, the parties entered into that certain Purchase Agreement No. 3157, dated November 7, 2006 (Purchase Agreement), relating to the purchase and sale of certain Boeing Model 777-FREIGHTER Aircraft (Aircraft); 

    B. WHEREAS, Customer desires to reschedule the delivery month of one (1) Block B conditional firm Aircraft (SA-24 Accelerated Block B Aircraft) as shown in the table below: 

     

    					
	 Aircraft Block
	  	 Existing Delivery Month
 of Aircraft
	  	 Revised Delivery Month
 of Aircraft

	B (Conditional Firm)	  	[*]	  	[*]

    C. WHEREAS, Boeing and Customer agree that the SA-24 Accelerated Block B Aircraft [*] upon execution of this Supplemental Agreement No. 24 as a result of the reschedule described in Recital Paragraph B above in accordance with the terms of Letter Agreement 6-1162-RRO-1068, Special Provision – Block B Aircraft, due to [*] provision therein as it relates to such Accelerated Block B Aircraft, [*]. 

    D. WHEREAS, Boeing and Customer have agreed to an [*]. 

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

     

     

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	P.A. No. 3157	  	1	  	SA-24

    BOEING PROPRIETARY 

   

  
   

  

  
   
    All terms used herein and in the Purchase Agreement, and not defined herein, shall have the same meaning as in the Purchase Agreement. 

     

    	1.	 Remove and replace, in its entirety, the “Table of Contents” with the revised Table of Contents, attached hereto, to reflect the changes made by this Supplemental Agreement No. 24. 

     

    	2.	 Boeing and Customer agree that upon execution of this Supplemental Agreement No. 24 the SA-24 Accelerated Block B Aircraft is hereby (i) rescheduled as described in Recital Paragraph B above and (ii) [*] in accordance with Recital Paragraph C above. 

     

    	3.	 Remove and replace, in its entirety, “Table 1-A”, with the revised Table 1-A, attached hereto, revised to reflect (i) the addition of the SA-24 Accelerated Block B Aircraft [*] and (ii) the revised delivery month and [*], Advance Payment Base Price and Advance Payment(s), subject to Paragraph 6, below, resulting from the reschedule of SA-24 Accelerated Block B Aircraft. 

     

    	4.	 Remove and replace, in its entirety, “Table 1-B”, with the revised Table 1-B, attached hereto, revised to reflect the removal of the SA-24 Accelerated Block B Aircraft. 

     

    	5.	 Remove and replace, in its entirety, Letter Agreement 6-1162-RCN-1799, [*], with a revised Letter Agreement 6-1162-RCN-1799R1, attached hereto, [*]. 

     

    	6.	 Add Letter Agreement 6-1162-LKJ-0726, [*] – SA-24 Accelerated Block B Aircraft, attached hereto, to reflect an [*] schedule for the SA-24 Accelerated Block B Aircraft. 

     

    	7.	 [*] 

     

    	8.	 This Supplemental Agreement No. 24 to the Purchase Agreement shall not be effective unless executed and delivered by the parties on or prior to May 13, 2016.  

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	P.A. No. 3157	  	2	  	SA-24

    BOEING PROPRIETARY 

   

  
   

  

  
   
    EXECUTED as of the day and year first above written. 

     

    									
	THE BOEING COMPANY	 		 	FEDERAL EXPRESS CORPORATION
					
	By:	 	 /s/ Kirsten Jensen
	 		 	By:	 	 /s/ Phillip C. Blum

	Its:	 	Attorney-In-Fact	 		 	Its:	 	Vice President

     

    					
	P.A. No. 3157	  	3	  	SA-24

    BOEING PROPRIETARY 

   

  
   

  

  
   
    TABLE OF CONTENTS 

     

    							
	 	 	 	  	SA
NUMBER	 
	 ARTICLES
	  			
	 1.
	 	Quantity, Model and Description	  			
	 2.
	 	Delivery Schedule	  			
	 3.
	 	Price	  			
	 4.
	 	Payment	  			
	 5.
	 	Miscellaneous	  			
	
	 TABLE
	  

			
	 1.
	 	Aircraft Information Table	  	 	15	 
	 1A
	 	Block B Firm Aircraft Information Table	  	 	24	 
	 1B
	 	Block B Conditional Firm Aircraft Information Table	  	 	24	 
	 1C
	 	Block C Aircraft Information Table	  	 	13	 
	 1C1
	 	Block C Aircraft Information Table (MSN 39285)	  	 	11	 
	 1C2
	 	Block C Aircraft Information Table	  	 	20	 
	 1D
	 	Block D Aircraft Information Table	  	 	20	 
	
	 EXHIBIT
	  

			
	 A.
	 	Aircraft Configuration	  	 	4	 
	 A1.
	 	Aircraft Configuration (Block B Aircraft)	  	 	4	 
	 A2.
	 	Aircraft Configuration (Block C Aircraft except MSN 39285)	  	 	11	 
	 A3.
	 	Aircraft Configuration (Block C Aircraft w/ MSN 39285)	  	 	11	 
	 A4.
	 	Aircraft Configuration (Block D Aircraft)	  	 	12	 
	 B.
	 	Aircraft Delivery Requirements and Responsibilities	  			
	
	 SUPPLEMENTAL EXHIBITS
	  

			
	 AE1.
	 	Escalation Adjustment/Airframe and Optional Features	  			
	 CS1.
	 	Customer Support Variables	  			
	 EE1.
	 	Engine Escalation/Engine Warranty and Patent Indemnity	  			
	 SLP1.
	 	Service Life Policy Components	  			

     

    					
	P.A. No. 3157	  	4	  	SA-24

    BOEING PROPRIETARY 

   

  
   

  

  
   
    					
	 LETTER AGREEMENT
	  	 SA NUMBER

			
	3157-01	  	777 Spare Parts Initial Provisioning	  	
			
	3157-02	  	Demonstration Flight Waiver	  	
			
	6-1162-RCN-1785	  	Demonstrated Compliance	  	
			
	6-1162-RCN-1789	  	Option Aircraft Attachment to Letter 6-1162-RCN-1789	  	 Exercised
 in SA # 4

			
	6-1162-RCN-1790	  	Special Matters	  	
			
	6-1162-RCN-1791	  	Performance Guarantees	  	4
			
	6-1162-RCN-1792	  	Liquidated Damages Non-Excusable Delay	  	
			
	6-1162-RCN-1793	  	Open Configuration Matters	  	
			
	6-1162-RCN-1795	  	AGTA Amended Articles	  	
			
	6-1162-RCN-1796	  	777 First-Look Inspection Program	  	
			
	6-1162-RCN-1797	  	Licensing and Customer Supplemental Type Certificates	  	
			
	6-1162-RCN-1798	  	777 Boeing Converted Freighter	  	 Deleted
 in SA # 4

			
	6-1162-RCN-1798 R1	  	777 Boeing Converted Freighter	  	4
			
	6-1162-RCN-1799 R1 	  	[*]	  	24
			
	6-1162-RRO-1062	  	Option Aircraft Attachment to Letter 6-1162-RRO-1062	  	23
			
	6-1162-RRO-1065	  	Performance Guarantees for Block B Aircraft	  	4
			
	6-1162-RRO-1066R1	  	Special Matters for Block B Aircraft	  	22
			
	6-1162-RRO-1067	  	Special Matters for Option Aircraft detailed in Letter Agreement 6-1162-RRO-1062	  	4
			
	6-1162-RRO-1068	  	Special Provision – Block B Aircraft	  	4
			
	FED-PA-LA-1000790R3	  	Special Matters for Block C Aircraft	  	20
			
	FED-PA-LA-1001683R2	  	Special Matters for Block D Aircraft	  	19
			
	6-1162-RRO-1144R7	  	[*] as related to SAs #8, #13 through #16, SA #18 through SA #20	  	20
			
	6-1162-SCR-137	  	777F Miscellaneous Matters	  	20
			
	6-1162-SCR-154	  	[*] Letter	  	22
			
	6-1162-SCR-155	  	[*] Engine Hard Mount Letter	  	22
			
	6-1162-SCR-186	  	[*] Non-Isolated Engine Mounts Letter	  	23
			
	6-1162-SCR-193	  	[*] Matters	  	23

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
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	 LETTER AGREEMENT
	  	 SA    
 NUMBER

			
	6-1162-LKJ-0726	  	[*]	  	24
			
		  	SA-24 Accelerated Block B Aircraft	  	

     

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	P.A. No. 3157	  	6	  	SA-24

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	 SUPPLEMENTAL AGREEMENTS
	  	 SA          
 DATED AS OF:

		
	Supplemental Agreement No. 1	  	May 12, 2008
		
	Supplemental Agreement No. 2	  	July 14, 2008
		
	Supplemental Agreement No. 3	  	December 15, 2008
		
	Supplemental Agreement No. 4	  	January 9, 2009
		
	Supplemental Agreement No. 5	  	January 11, 2010
		
	Supplemental Agreement No. 6	  	March 17, 2010
		
	Supplemental Agreement No. 7	  	March 17, 2010
		
	Supplemental Agreement No. 8	  	April 30, 2010
		
	Supplemental Agreement No. 9	  	June 18, 2010
		
	Supplemental Agreement No. 10	  	June 18, 2010
		
	Supplemental Agreement No. 11	  	August 19, 2010
		
	Supplemental Agreement No. 12	  	September 3, 2010
		
	Supplemental Agreement No. 13	  	August 27, 2010
		
	Supplemental Agreement No. 14	  	October 25, 2010
		
	Supplemental Agreement No. 15	  	October 29, 2010
		
	Supplemental Agreement No. 16	  	January 31, 2011
		
	Supplemental Agreement No. 17	  	February 14, 211
		
	Supplemental Agreement No. 18	  	March 31, 2011
		
	Supplemental Agreement No. 19	  	October 27, 2011
		
	Supplemental Agreement No. 20	  	December 14, 2011
		
	Supplemental Agreement No. 21	  	June 29, 2012
		
	Supplemental Agreement No. 22	  	December 11, 2012
		
	Supplemental Agreement No. 23	  	December 10, 2013
		
	Supplemental Agreement No. 24	  	, 2016

     

    					
	P.A. No. 3157	  	7	  	SA-24

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    Fedex contract #07-0255-030 

    6-1162-RCN-1799 R1 

    Federal Express Corporation 

    3131 Democrat Road 

    Memphis TN 38125 

     

    	Subject:            	 [*] 

    Reference:         Purchase Agreement No. 3157 (the Purchase Agreement) between The Boeing Company (Boeing) and Federal Express                       Corporation (Customer) relating to Model 777-FREIGHTER aircraft (Aircraft). 

    This letter agreement (Letter Agreement) cancels and supersedes Letter Agreement 6-1162-RCN-1799 dated March 6, 2007 and amends and supplements the Purchase Agreement. All terms used but not defined in this Letter Agreement have the same meaning as in the Purchase Agreement. 

    Recital. 

    [*] 

    Agreement. 

     

    	1.	 Definitions. 

    1.1 “Covered Aircraft” shall mean those Aircraft identified on Table 1 to the Purchase Agreement as of March 6, 2007. 

    1.2 [*] 

    1.3 [*] shall have the meaning set forth in Article 2, below. 

    1.4 [*] 

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	 P.A. No. 3157
 [*]
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    BOEING PROPRIETARY 

   

  
   

  

  
   
    Federal Express Corporation 

    6-1162-RCN-1799 R1     Page 2 

    1.5 [*] 

     

    	2.	 [*] 

    2.1 [*] 

    2.2 [*] 

    2.3 [*] 

     

    	3.	 Methods of Performance. 

    [*] 

    3.1 [*] 

    3.2 [*] 

     

    	4.	 Project Approval. 

    [*] 

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	 P.A. No. 3157
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    Federal Express Corporation 

    6-1162-RCN-1799 R1     Page 3 

     

    	5.	 Confidentiality. 

    The commercial and financial information contained in this Letter Agreement is considered by Boeing as confidential. Customer agrees that it will treat this Letter Agreement and the information contained herein as confidential and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any of the information contained herein. 

    Very truly yours, 

     

    			
	THE BOEING COMPANY
		
	By	 	 /s/ Kirsten Jensen

	Its	 	Attorney-In-Fact

    ACCEPTED AND AGREED TO this 

    Date: May 4, 2016 

     

    			
	FEDERAL EXPRESS CORPORATION
		
	By	 	 /s/ Phillip C. Blum

	Its	 	Vice President

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	 P.A. No. 3157
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	  	  	 The Boeing Company    

		  	 P.O. Box 3707                

		  	 Seattle, WA 98124-2207

     

    Fedex contract #07-0255-030 

    6-1162-LKJ-0726 

    Federal Express Corporation 

    3131 Democrat Road 

    Memphis, TN 38125 

     

    			
	Subject:	 	[*] – SA-24 Accelerated Block B Aircraft
		
	Reference:	 	Purchase Agreement No. 3157 (Purchase Agreement) between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to Model 777-FREIGHTER aircraft (Aircraft)

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

     

    	1.	 [*] 

    1.1 [*] 

    1.2 [*] 

    # Supplemental Agreement No. 4 

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

     

    					
	 6-1162-LKJ-0726 
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	  		  	 Page 1

    BOEING PROPRIETARY 

   

  
   

  

  
   
      

     

    	2.	 [*] 

    [*] 

     

    	3.	 Assignment. 

    Notwithstanding any other provisions of the Purchase Agreement, the rights and obligations described in this Letter Agreement are provided to Customer only and cannot be assigned in whole or, in part without the prior written consent of Boeing. 

     

    	4.	 Confidential Treatment. 

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

    If the foregoing correctly sets forth your understanding of our agreement with respect to matters described above, please indicate your acceptance and approval below. 

    Very truly yours, 

     

    			
	THE BOEING COMPANY
		
	By	 	 /s/ Kirsten Jensen

	Its	 	Attorney-In-Fact

    ACCEPTED AND AGREED TO this 

     

    			
	Date:	 	May 4, 2016
	
	FEDERAL EXPRESS CORPORATION

     

    			
	By	 	 /s/ Phillip C. Blum

	Its	 	Vice President

     

    	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both (i) not material and (ii) the type that FedEx treats as private or confidential. 

    Omitted Attachments 

    Certain attachments to this exhibit regarding delivery and pricing of certain B777F aircraft manufactured by The Boeing Company for FedEx have been omitted pursuant to Item 601(a)(5) of Regulation S-K because the information contained therein is not material and is not otherwise publicly disclosed. FedEx will furnish supplementally copies of these attachments to the Securities and Exchange Commission or its staff upon request. 

     

    					
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