Document:

Exhibit 10.1

 

*** Indicates CONFIDENTIAL MATERIAL OMITTED
AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A
REQUEST FOR CONFIDENTIAL TREATMENT.

 

 

Amendment No. 8

 

to the A330 Purchase Agreement

 

dated as of December 21, 2000

 

between

 

AVSA, S.A.R.L.

 

And

 

NORTHWEST AIRLINES, INC.

 

January
6, 2006

 

Northwest Airlines, Inc.

2700 Lone Oak Parkway

Eagan, MN  55121

 

Re: LETTER AGREEMENT NO.
4: RELIABILITY GUARANTEES 

 

Ladies and Gentlemen:

 

Northwest Airlines, Inc. (“Northwest”) and AVSA, S.A.R.L. (“AVSA”),
have entered into an A330 Purchase Agreement, dated as of December 21, 2000 (as
amended from time to time, the “Agreement”), which covers, among other matters,
the sale by AVSA and the purchase by Northwest of certain Aircraft, under the
terms and conditions set forth in said Agreement. Northwest and AVSA have
agreed to set forth in this Amendment No. 8 to the Agreement (this “Amendment”)
certain amendments to Letter Agreement No. 4 to the Agreement, also dated as of
December 21, 2000 (“L.A. No 4”). Capitalized terms used herein and not
otherwise defined in this Amendment shall have the meanings assigned thereto in
the Agreement. The terms “herein,” “hereof” and “hereunder” and words of
similar import refer to this Amendment.

 

Representatives
of Northwest and Airbus North America Customer Services, Inc., met at the
facilities of Northwest in Minneapolis on July 14, 2005, regarding the
application of L.A. No. 4. Following that meeting, Northwest issued its ***,
under L.A. No. 4, relating to ***.

 

1

 

1.             Amendment. Northwest and AVSA agree that the Aircraft and Converted Firm
A330-200 Aircraft currently in service in Northwest’s fleet are operating with
Achieved ODI Performance, Achieved On-Time Performance, Achieved 30-Minute
On-Time Performance and Completion Factor within the guaranteed parameters set
forth in Paragraph 3 of L.A. No. 4. Accordingly, AVSA and Northwest agree that
Northwest will *** as specified in Paragraph 4.2(i) of L.A. No. 4, provided,
however, that it will ***.

 

2.             Effect of Amendment. The provisions of this Amendment are
binding on each of the parties hereto upon the signature hereof by such parties.
L.A. No. 4 will be deemed amended to the extent herein provided and, except as
specifically amended hereby, will continue in full force and effect in
accordance with its original terms. This Amendment supersedes any previous
understandings, commitments or representations whatsoever, whether oral or
written, relating to the subject matter of this Amendment. The parties agree that this Amendment will
constitute an integral, nonseverable part of L.A. No. 4, that the provisions of
L.A. No. 4 are hereby incorporated herein by reference, and that this Amendment
will be governed by the provisions of L.A. No. 4, except that if L.A. No. 4 and
this Amendment have specific provisions that are inconsistent, those set forth
in this Amendment will govern. Northwest and AVSA agree that this Amendment
will not be deemed to be an assumption under the U.S. Bankruptcy Code by
Northwest of either L.A. No. 4 or the Agreement.

 

3.             Confidentiality. This Amendment is subject to the
confidentiality provisions set forth in Clause 22.4 of the Agreement.

 

IN WITNESS WHEREOF, the
parties have caused this Amendment to be signed by their respective officers
thereunto duly authorized as of the day and year first above written.

 

 

	
  NORTHWEST AIRLINES, INC.

  	
   

  	
  AVSA, S.A.R.L.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Daniel B. Matthews

  	
   

  	
   

  	
  By: 

  	
  /s/ Marie-Pierre Merle Beral

  	
   

  
	
   

  	
     Daniel B. Matthews 

  	
   

  	
   

  	
     Marie-Pierre
  Merle Beral  

  
	
   

  	
     Senior
  Vice President & Treasurer

  	
   

  	
   

  	
     Chief
  Executive Officer

  
							

 

2Exhibit
10.2

 

*** Indicates CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL
TREATMENT.  

 

 

Amendment No. 9

 

to the A330 Purchase Agreement

 

Dated as of December 21, 2000

 

Between

 

AVSA, S.A.R.L.

 

And

 

NORTHWEST AIRLINES, INC.

 

This
Amendment No. 9 (hereinafter referred to as the “Amendment”) is entered into as of January 23, 2006, between
AVSA, S.A.R.L., a société à responsabilité limitée organized and existing under
the laws of the Republic of France, having its registered office located at 2,
Rond-Point Maurice Bellonte, 31700 Blagnac, France (hereinafter referred to as
the “AVSA”), and NORTHWEST
AIRLINES, INC., a corporation organized and existing under the laws of the State
of Minnesota, United States of America, having its principal corporate offices
located at 2700 Lone Oak Parkway, Eagan, Minnesota 55121, USA (hereinafter
referred to as the “Northwest”).

 

WITNESSETH

 

WHEREAS, Northwest and AVSA entered into an A330 Purchase
Agreement, dated as of December 21, 2000, relating to the sale by AVSA and the
purchase by Northwest of certain Airbus A330-300 aircraft (the “Aircraft”) which, together with all
Exhibits, Appendices and Letter Agreements attached thereto, and as amended by
Amendment No. 1 dated as of November 26, 2001, Amendment No. 2 dated as of
December 20, 2002, Amendment No. 3 dated as of April 30, 2003, Amendment No. 4
dated as of December 18, 2003, Amendment No. 5 dated as of April 13, 2004,
Amendment No. 6 dated as of June 6, 2004, notice dated as of July 29, 2004,
Amendment No. 7 dated as of January 21, 2005, and Amendment No. 8, dated as of
January 6, 2006, is hereinafter called the “Agreement.”

 

WHEREAS, Northwest and AVSA entered into a Product
Support Agreement for Airbus A330 Aircraft among and between AVSA, NWA and
Airbus North America Customer Services, Inc. (formerly known as Airbus Service
Company, Inc.), dated as of December 21, 2000, which has been subsequently
amended prior to the date of this Amendment (the “A330 PSA”).

 

1

 

WHEREAS, Northwest and AVSA entered into an A319
Purchase Agreement, dated as of September 19, 1997, which has been subsequently
amended prior to the date of this Amendment (the “A319 PA”).

 

WHEREAS, on September
14, 2005, Northwest and certain of its affiliated companies commenced Chapter
11 cases by filing voluntary petitions for relief under Chapter 11 of the
Bankruptcy Code in the United States Bankruptcy Court, Southern District of New
York (the “Court”) Chapter 11
Case No.  05-17930 (ALG) (the “Case”).

 

WHEREAS,
AVSA, Airbus S.A.S., Airbus North America Customer Services, Inc., Airbus
Leasing IV, Inc., Airbus Financial Services and Airbus Finance Company Limited
and Northwest entered into an agreement titled “Northwest Restructuring Term
Sheet,” dated as of December 7, 2005 (the “Term
Sheet”).

 

WHEREAS,
on December 22, 2005, the Court approved a motion seeking authorization to
implement all aspects of the Term Sheet.

 

WHEREAS,
Northwest wishes to amend the Agreement as contemplated by the Term Sheet, and
AVSA is willing to agree to such amendment, upon the terms and conditions set
forth herein.

 

WHEREAS,
capitalized terms used herein and not otherwise defined herein will have the
meanings assigned to them in the Agreement. The terms “herein,” “hereof” and “hereunder”
and words of similar import refer to this Amendment. 

 

NOW,
THEREFORE, IT IS AGREED AS FOLLOWS:

 

1.             FLEXIBILITY AND DELIVERY

 

1.1           Conversion Rights

 

In
respect only of the ***Aircraft scheduled for delivery in *** 2007 (bearing CAC
Id. No. 191419), AVSA  *** Additional
Conversion Right  (under Paragraph 5.2 of
Amendment No. 7 of the Agreement). 
Therefore, Northwest may ***

 

1.2           *** Rights

 

1.2.1         ***

 

1.2.2        If AVSA
***

 

1.3           Delivery

 

AVSA and Northwest
acknowledge that the name of Aircraft No. 27 in the amended delivery schedule
set forth in Subparagraph 2.4 of Amendment No. 7 of the Agreement is incorrect,
and that CAC Id. Nos. have been provided to Northwest for Aircraft Nos. 23, 25,
26 and 28 through 32 in such schedule. 
Therefore, the delivery schedule in Subclause 9.1 of the Agreement is
hereby canceled and replaced by the following quoted

 

2

 

delivery schedule, and the
sentence following such delivery schedule in such Amendment No. 7 is deleted:

 

QUOTE

 

	
  Rank

  	
   

  	
  CAC Id. No.

  	
   

  	
  Aircraft

  	
   

  	
  Delivery Month

  
	
  1

  	
   

  	
  95239

  	
   

  	
  Firm Aircraft (A330-300)

  	
   

  	
  Jun-03

  
	
  2

  	
   

  	
  95259

  	
   

  	
  Firm Aircraft (A330-300)

  	
   

  	
  Jul-03

  
	
  3

  	
   

  	
  95260

  	
   

  	
  Firm Aircraft (A330-300)

  	
   

  	
  Aug-03

  
	
  4

  	
   

  	
  95261

  	
   

  	
  Firm Aircraft (A330-300)

  	
   

  	
  Sep-03

  
	
  5

  	
   

  	
  95262

  	
   

  	
  Firm Aircraft (A330-300)

  	
   

  	
  Oct-03

  
	
  6

  	
   

  	
  95264

  	
   

  	
  Firm Aircraft (A330-300)

  	
   

  	
  Feb-04

  
	
  7

  	
   

  	
  95266

  	
   

  	
  Firm Aircraft (A330-300)

  	
   

  	
  Apr-04

  
	
  8

  	
   

  	
  95267

  	
   

  	
  Firm Aircraft (A330-300)

  	
   

  	
  May-04

  
	
  9

  	
   

  	
  95268

  	
   

  	
  A330-200 Converted Firm
  A330-200 Aircraft

  	
   

  	
  Jul-04

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10

  	
   

  	
  95269

  	
   

  	
  A330-200 Converted Firm A330-200 Aircraft

  	
   

  	
  Aug-04

  
	
  11

  	
   

  	
  95270

  	
   

  	
  A330-200 Converted
  Firm A330-200 Aircraft

  	
   

  	
  Sep-04

  
	
  12

  	
   

  	
  95271

  	
   

  	
  A330-200 Converted
  Firm A330-200 Aircraft

  	
   

  	
  Sep-04

  
	
  13

  	
   

  	
  95272

  	
   

  	
  A330-200 Converted Firm A330-200 Aircraft

  	
   

  	
  Oct-04

  
	
  14

  	
   

  	
  95273

  	
   

  	
  A330-200 Converted Firm A330-200 Aircraft

  	
   

  	
  Oct-04

  
	
  15

  	
   

  	
  95274

  	
   

  	
  A330-200 Converted Firm A330-200 Aircraft

  	
   

  	
  Nov-04

  
	
  16

  	
   

  	
  95275

  	
   

  	
  Firm Aircraft (A330-300)

  	
   

  	
  May-05

  
	
  17

  	
   

  	
  95276

  	
   

  	
  Firm Aircraft (A330-300)

  	
   

  	
  Jul-05

  
	
  18

  	
   

  	
  95278

  	
   

  	
  Firm Aircraft (A330-300)

  	
   

  	
  Sep-05

  
	
  19

  	
   

  	
  95281

  	
   

  	
  Converted
  Firm A330-200 Aircraft

  	
   

  	
  Jan-06

  
	
  20

  	
   

  	
  95280

  	
   

  	
  Converted
  Firm A330-200 Aircraft

  	
   

  	
  Feb06

  
	
  21

  	
   

  	
  95263

  	
   

  	
  ***

  	
   

  	
  ***-06

  
	
  22

  	
   

  	
  95277

  	
   

  	
  ***

  	
   

  	
  ***-06

  
	
  23

  	
   

  	
  191414

  	
   

  	
  ***

  	
   

  	
  ***-06

  
	
  24

  	
   

  	
  95279

  	
   

  	
  ***

  	
   

  	
  ***-06

  
	
  25

  	
   

  	
  191415

  	
   

  	
  ***

  	
   

  	
  ***-07

  
	
  26

  	
   

  	
  191416

  	
   

  	
  ***

  	
   

  	
  ***-07

  
	
  27

  	
   

  	
  95265

  	
   

  	
  ***

  	
   

  	
  ***-07

  
	
  28

  	
   

  	
  191417

  	
   

  	
  ***

  	
   

  	
  ***-07

  
	
  29

  	
   

  	
  191418

  	
   

  	
  ***

  	
   

  	
  ***-07

  
	
  30

  	
   

  	
  191419

  	
   

  	
  ***

  	
   

  	
  ***-07

  
	
  31

  	
   

  	
  191420

  	
   

  	
  ***

  	
   

  	
  ***-07

  
	
  32

  	
   

  	
  191421

  	
   

  	
  ***

  	
   

  	
  ***-07

  

 

UNQUOTE

 

2.             PREDELIVERY PAYMENTS

 

2.1           *** (the “Remaining
A330s”).  

 

3

 

2.2           ***

 

***Remaining
A330s as ****as follows ****

 

	
  Rank

  	
   

  	
  CAC Id. No.

  	
   

  	
  Aircraft

  	
   

  	
  Delivery Month

  	
   

  	
  ***

  
	
  19

  	
   

  	
  95281

  	
   

  	
  Converted
  Firm A330-200 Aircraft

  	
   

  	
  Jan-06

  	
   

  	
  ***

  
	
  20

  	
   

  	
  95280

  	
   

  	
  Converted
  Firm A330-200 Aircraft

  	
   

  	
  Feb06

  	
   

  	
  ***

  
	
  21

  	
   

  	
  95263

  	
   

  	
  ***

  	
   

  	
  ***-06

  	
   

  	
   

  
	
  22

  	
   

  	
  95277

  	
   

  	
  ***

  	
   

  	
  ***-06

  	
   

  	
  ***

  
	
  23

  	
   

  	
  191414

  	
   

  	
  ***

  	
   

  	
  ***-06

  	
   

  	
  ***

  
	
  24

  	
   

  	
  95279

  	
   

  	
  ***

  	
   

  	
  ***-06

  	
   

  	
  ***

  
	
  25

  	
   

  	
  191415

  	
   

  	
  ***

  	
   

  	
  ***-07

  	
   

  	
  ***

  
	
  26

  	
   

  	
  191416

  	
   

  	
  ***

  	
   

  	
  ***-07

  	
   

  	
  ***

  
	
  27

  	
   

  	
  95265

  	
   

  	
  ***

  	
   

  	
  ***-07

  	
   

  	
  ***

  
	
  28

  	
   

  	
  191417

  	
   

  	
  ***

  	
   

  	
  ***-07

  	
   

  	
  ***

  
	
  29

  	
   

  	
  191418

  	
   

  	
  ***

  	
   

  	
  ***-07

  	
   

  	
  ***

  
	
  30

  	
   

  	
  191419

  	
   

  	
  ***

  	
   

  	
  ***-07

  	
   

  	
  ***

  
	
  31

  	
   

  	
  191420

  	
   

  	
  ***

  	
   

  	
  ***-07

  	
   

  	
  ***

  
	
  32

  	
   

  	
  191421

  	
   

  	
  ***

  	
   

  	
  ***-07

  	
   

  	
  ***

  

 

If
any of the Remaining A330s is converted to another aircraft type, in accordance
with the Agreement as amended by this Amendment, the foregoing *** will remain
unchanged from the *** listed in the above table.

 

2.3           Letter Agreement No. 8

 

Subparagraphs 1.2 and
1.3.1 through 1.3.5 of Letter Agreement No. 8 of the Agreement  (as amended and restated in Letter Agreement
No. 2 to Amendment No. 7 of the A330 PA) (“Letter
Agreement No. 8”) are canceled and replaced by the text in the
following quoted provisions:

 

QUOTE

 

1.2           Firm
Aircraft

 

1.2.1        ***

 

1.2.2        ***

 

1.2.3        ***

 

1.3           ***

 

1.3.1        ***

 

1.3.2        ***

 

4

 

1.3.3        ***

 

1.3.4

 

1.3.4        ***

 

(i)            ***

 

(ii)           ***

 

1.3.5        ***

 

UNQUOTE

 

3.             PURCHASE INCENTIVES

 

3.1           AVSA grants Northwest a credit in an amount
equal to the ***  AVSA will make an
amount equal to this credit available to Northwest at delivery of each of the
*** currently scheduled to be delivered in *** and *** 2006 (two (2) A330-200
model Remaining A330s) and *** and *** 2006 (two (2) A330-300 model Remaining
A330s), bearing, respectively, CAC Id. Nos. 95281, 95277, 95277, 95279 (each,
an *** “Aircraft”) in the following
amounts (each, an *** “Credit”): 

 

(i)            in respect of each A330-300 model *** Aircraft,
US  *** US dollars), at September 2003
delivery conditions; and

 

(ii)           in
respect of each A330-200 model *** Aircraft, US *** US dollars), at July 2004
delivery conditions.

 

3.2           The *** Credits set forth in Paragraph 3.1(i)
for A330-300 model *** Aircraft have been established in accordance with
September 2003 delivery conditions (dollars) and *** Aircraft ***

 

The
amount of each such *** Credit will be adjusted from September 2003 *** 

 

ECIb       =              average ECI-SIC-3721W for August 2002/September
2002/October 2002 (162.7)

 

ICb          =              average IC-Index for August 2002/September
2002/October 2002 (133.8)

 

3.3           The *** Credits set forth in Paragraph 3.1(ii)
for A330-200 model *** Aircraft have been established in accordance with July
2004 delivery conditions (dollars) and will be revised to the actual delivery
date of each applicable A330-200 model *** Aircraft in accordance with ***

 

The
amount of each such * Credit will be adjusted from July 2004 ***

 

ECIb       =              average ECI-SIC-3721W for June 2003/July 2003/
August 2003 (167.2)

 

ICb          =              average IC-Index for June 2003/July 2003/
August 2003 (139.1)

 

3.4           Each
*** Credit will be applied by AVSA against the Final Contract Price of the applicable
*** Aircraft.

 

5

 

4.             CONDITIONS
PRECEDENT 

 

Each of the obligations of AVSA is contingent on all of the conditions
below being met:

 

(i)            The Court order dated December 22, 2005 and entitled, “ORDER
AUTHORIZING DEBTOR NORTHWEST AIRLINES, INC. TO (I) OBTAIN POST PETITION
FINANCING AND GRAND SECURITY INTERESTS AND LIENS WITH RESPECT THERETO, (II)
ASSUME CERTAIN AMENDED SUBLEASE AND PURCHASE AGREEMENTS, (III) USE CASH
COLLATERAL TO PURCHASE AND LEASE AIRCRAFT, (IV) IMPLEMENT ALL OTHER ASPECTS OF
THE TERM SHEET AND (V) FILE AGREEMENTS UNDER SEAL”, has not been reversed,
modified, vacated or stayed (the “Order”).

 

(ii)           Assumption of the A319 PA, ***
as amended in accordance with the Term Sheet, and A330 PSA.

 

(iii)          Completion of all amendments
contemplated in the Term Sheet and any other documentation required under the
Term Sheet.

 

5.             MISCELLANEOUS

 

5.1          Unsecured
Claims

 

No provision of this Amendment will be construed as an agreement by AVSA
to limit any unsecured claim it may have against Northwest or any of its
Affiliates.

 

5.2          Plan of
Reorganization

 

Nothing in this Amendment is intended to constitute a limitation on the
right of AVSA to vote with respect to any plan of reorganization proposed
by or in respect of Northwest.

 

6.            EFFECT OF THE AMENDMENT

 

The Agreement will be
deemed amended to the extent herein provided, and, except as specifically
amended hereby, will continue in full force and effect in accordance with its
original terms.

 

7.             ASSUMPTION

 

Northwest hereby assumes
the Agreement, as amended by this Amendment, as authorized in the Order.

 

8.             LIMITATION
OF ADMINISTRATIVE CLAIM

 

The amount that may be asserted by AVSA under 11 U.S.C. §503 as an
administrative priority claim is limited as set forth in this Paragraph 8.  Such limitation will apply solely in

 

6

 

the event Northwest defaults with respect to the Agreement in connection
with a liquidation by Northwest under Chapter 7 or Chapter 11 of the U.S.
Bankruptcy Code.   The amount that may be
claimed under such section will not exceed the aggregate amount of the PDP Fund
held by AVSA from time to time under the Agreement.  All such amounts will constitute liquidated
damages and Northwest will not have any right to claim that AVSA does not have
the right to retain the entire amount thereof.  
In all circumstances other than a liquidation specified in the second
sentence of this Paragraph 8, there will be no limitation on any claim of AVSA
or any of its Affiliates under 11 U.S.C. §503 in respect of the Agreement.

 

9.            CONFIDENTIALITY

 

This Amendment is subject to the confidentiality provisions set forth in
Subclause 22.4 of the Agreement.

 

10.          ASSIGNMENT

 

Northwest may not assign its rights under this Amendment without the
consent of AVSA.

 

11.          COUNTERPARTS

 

This
Amendment may be signed in any number of separate counterparts.  Each counterpart, when signed and delivered
(including counterparts delivered by facsimile transmission), will be an
original, and the counterparts will together constitute one same instrument.

 

7

 

IN WITNESS WHEREOF, the
parties have caused this Amendment to be signed by their respective officers
thereunto duly authorized as of the day and year first above written.

 

 

	
  NORTHWEST AIRLINES, INC. 

  	
   

  	
  AVSA, S.A.R.L. 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Daniel
  B. Matthews

  	
   

  	
   

  	
  By:

  	
  /s/ Marie-Pierre Merle Beral

  	
   

  
	
   

  	
     Daniel B. Matthews 

  	
   

  	
   

  	
     Marie-Pierre
  Merle Beral

  
	
   

  	
     Senior
  Vice President & Treasurer

  	
   

  	
   

  	
     Chief
  Executive Officer

  
								

 

8

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