Document:

Document

Exhibit 10.6

CERTAIN IDENTIFIED INFORMATION MARKED BY [*] HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE OF INFORMATION THAT THE REGISTRANT BOTH CUSTOMARILY AND ACTUALLY TREATS AS PRIVATE AND CONFIDENTIAL.

Supplemental Agreement No. 28
to
Purchase Agreement No. 03791
between
THE BOEING COMPANY
and
AIR LEASE CORPORATION
THIS SUPPLEMENTAL AGREEMENT is entered into as of July _22__, 2021 (Supplemental Agreement No. 28) by and between THE BOEING COMPANY (Boeing) and AIR LEASE CORPORATION (Customer).
WHEREAS, Boeing and Customer have entered into Purchase Agreement No. 03791 dated as of July 3, 2012 as amended and supplemented (Purchase Agreement) relating to the purchase and sale of Model 737-8 and 737-9 Aircraft; 
WHEREAS, Boeing and Customer desire to [*].  
[*]
WHEREAS, Boeing and Customer previously agreed to [*]. 
[*]
           WHEREAS, Boeing and Customer wish to [*]. 
WHEREAS, Boeing and Customer desire to amend the Purchase Agreement to [*]; and
WHEREAS, Boeing and Customer desire to amend the Purchase Agreement to [*]. 
NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties agree to amend the Purchase Agreement as follows:

1.TABLE OF CONTENTS.
The Table of Contents is deleted in its entirety and replaced by a new Table of Contents, provided as Enclosure 1, and incorporated into the Purchase Agreement. The 
									
	HAZ-PA-03791	1
	SA-28
		BOEING PROPRIETARY	

new Table of Contents reflects the revisions set forth in this Supplemental Agreement No. 28.
2.TABLES.
2.1    Table 1A is deleted in its entirety and replaced by a revised Table 1A, provided as Enclosure 2, which is incorporated into the Purchase Agreement by this reference. The new Table 1A [*].
2.2    Table 1B is deleted in its entirety and replaced by a revised Table 1B, provided as Enclosure 3, which is incorporated into the Purchase Agreement by this reference. The new Table 1B [*]. 
2.3    Table 1J, provided hereto as Enclosure 4, is incorporated into the Purchase Agreement by this reference. This new Table 1J [*].
3.    EXHIBITS.
3.1    New Exhibit A7-1, HAZ/[*] 737-8 Aircraft Configurations [*], provided as Enclosure 5 to this Supplemental Agreement No. 28, is incorporated into the Purchase Agreement.  [*]. 
3.2    New Exhibit A22-1, HAZ/[*] 737-9 Aircraft Configurations [*], provided as Enclosure 6 to this Supplemental Agreement No. 28, is incorporated into the Purchase Agreement.  [*].
4.    LETTER AGREEMENTS.
4.1     Letter Agreement HAZ-PA-03791-LA-1208078R10, entitled “[*]” is deleted in its entirety, and replaced with a revised Letter Agreement HAZ-PA-03791-LA-1208078R11, entitled “[*]” ([*]) which is provided as Enclosure 7 to this Supplemental Agreement No. 28, and incorporated into the Purchase Agreement.
4.2    Letter Agreement HAZ-PA-03791-LA-1208090R10, entitled “[*]” is deleted in its entirety, and replaced with a revised Letter Agreement HAZ-PA-03791-LA-1208090R11, entitled “[*]” which is provided as Enclosure 8 to this Supplemental Agreement No. 28, and incorporated into the Purchase Agreement.
4.3    New Letter Agreement HAZ-PA-03791-LA-2101360, entitled “[*]” which is provided as Enclosure 9 to this Supplemental Agreement No. 28, is incorporated into the Purchase Agreement. 

5.    MISCELLANEOUS.
5.1    All terms used but not defined in this Supplemental Agreement No. 28 will have the same meaning as such terms have in the Purchase Agreement.
5.2    This Supplemental Agreement No. 28 will become effective upon execution and receipt by both parties of this Supplemental Agreement No. 28. The terms of this Supplemental Agreement No. 28 will expire if not executed by July 22, 2021.

									
	HAZ-PA-03791	2
	SA-28
		BOEING PROPRIETARY	

EXECUTED IN DUPLICATE as of the day and year first above written.

															
	THE BOEING COMPANY
		AIR LEASE CORPORATION

					
	By:
	/s/ Sydney A. Bard                          
		By:	 /s/ Grant Levy                               
					
	Its:	Attorney-In-Fact                                         		Its:
	   Executive Vice President           

									
	HAZ-PA-03791	3
	SA-28
		BOEING PROPRIETARY	

Enclosure 1

TABLE OF CONTENTS

									
	ARTICLES	SA No.
	Article 1.	Quantity, Model and Description	SA-4
	Article 2.	Delivery Schedule	
	Article 3.	Price	
	Article 4.	Payment	
	Article 5.	Additional Terms	

									
	TABLES	
	1A	737-8 Block A Aircraft Information Table [*]	SA-28
	1B	737-9 Block B Aircraft Information Table [*]	SA-28
	1C	737-8 Block C Aircraft Information Table [*]	SA-27
	1D	737-8 Block D Aircraft Information Table [*]	SA-26
	1E	737-8 Block E Aircraft Information Table [*]	SA-14
	1F	737-7 Block F Aircraft Information Table [*]	SA-24
	1G	737-8 Block G Aircraft Information Table [*]	SA-18
	1H1	737-8 Block H1 Aircraft Information Table [*]	SA-18
	1H2	737-8 Block H2 Aircraft Information Table [*]	SA-18
	1H3	737-8 Block H3 Aircraft Information Table [*]	SA-18
	1H4	737-8 Block H4 Aircraft Information Table [*]	SA-18
	1H5	737-8 Block H5 Aircraft Information Table [*]	SA-25
	1I	737-8 Block I Aircraft Information Table [*]	SA-27
	1J	737-8 Block J Aircraft Information Table [*]	SA-28

												
	EXHIBITS	
	A1	HAZ/[*] 737-8 Aircraft Configuration	SA-16
	A2	HAZ/[*] 737-8 Aircraft Configuration	SA-16
	A2-1	HAZ/[*] 737-8 Aircraft Configuration (Block I)	SA-27
	A3	HAZ/[*] 737-8 Aircraft Configuration	SA-16
	A4	HAZ/[*] 737-8 Aircraft Configuration	SA-16
	A5	HAZ/[*] 737-8 Aircraft Configuration	SA-16

									
	HAZ-PA-03791	i
	SA-28
		BOEING PROPRIETARY	

Enclosure 1

TABLE OF CONTENTS

												
	A6	HAZ/[*] 737-9 Aircraft Configuration	SA-19
	A7	HAZ/[*] 737-8 Aircraft Configuration [*]	SA-21
	A7-1	HAZ/[*] 737-8 Aircraft Configuration [*] (Block J)     
	SA-28
	A8	HAZ/[*] 737-8 Aircraft Configuration [*]	SA-21
	A9	HAZ/[*] 737-8 Aircraft Configuration [*]	SA-21
	A10	HAZ/[*] 737-8 Aircraft Configuration [*]	SA-21
	A11	HAZ/[*] 737-8 Aircraft Configuration [*]	SA-21
	A12	HAZ/[*] 737-8 Aircraft Configuration [*]	SA-21
	A13	HAZ/[*] 737-9 Aircraft Configuration [*]	SA-21
	A14	HAZ/[*] 737-9 Aircraft Configuration [*]	SA-21
	A15	HAZ 737-8 Baseline Aircraft Configuration [*]	SA-21
	A16	HAZ 737-9 Baseline Aircraft Configuration [*]	SA-21
	A17	HAZ/[*] 737-8 Aircraft Configuration [*]	SA-24
	A18	HAZ/[*] 737-8 Aircraft Configuration [*]	SA-24
	A19	HAZ/[*] 737-8 Aircraft Configuration [*]	SA-25
	A20	HAZ/[*] 737-8 Aircraft Configuration [*]	SA-25
	A21	HAZ/[*] 737-8 Aircraft Configuration [*]	SA-25
	A22	HAZ/[*] 737-9 Aircraft Configuration [*]	SA-25
	A22-1	HAZ/[*] 737-9 Aircraft Configuration [*]     
	SA-28
	A23	HAZ/[*] 737-9 Aircraft Configuration [*]	SA-26
	B	Aircraft Delivery Requirements and Responsibilities	

									
	SUPPLEMENTAL EXHIBITS	
	AE1	Escalation Adjustment - Airframe and Optional Features	
	BFE1	BFE Variables	SA-9
	CS1	Customer Support Variables	
	EE1	[*], Engine Warranty and Patent Indemnity	
	SLP1	Service Life Policy Components	

									
	HAZ-PA-03791	ii
	SA-28
		BOEING PROPRIETARY	

Enclosure 1

TABLE OF CONTENTS

									
	LETTER AGREEMENTS	SA No.
	LA-1208077	AGTA Matters	
	LA-1208078R11
	Advance Payment Matters	SA-28
	LA-1208079R2	[*]	SA-18
	LA-1208080	Assignment of Customer’s Interest to a Subsidiary or Affiliate	
	LA-1208081	Other Matters	
	LA-1208082	Demonstration Flight Waiver	
	LA-1208083R4	[*]	SA-17
	LA-1208084	Leasing Matters	
	LA-1208085	Liquidated Damages for Non-Excusable Delay	
	LA-1208086	Loading of Customer Software	
	LA-1208087R1	Open Matters for 737-8 and 737-9 Aircraft	SA-4
	LA-1208088	Performance Matters	
	LA-1208089R1	[*]	SA-4
	LA-1208090R11
	Special Matters for 737-8 and 737-9 Aircraft	SA-28
	LA-1208091	AGTA Term Revisions for 737-8 and 737-9 Aircraft	
	LA-1208092	[*]	
	LA-1208958	[*]	
	LA-1208963	[*]	SA-4
	LA-1209052	[*]	
	LA-1300032	[*]	SA-4
	LA-1400773	[*]	SA-4
	LA-1401489	[*]	SA-4
	LA-1701519	Special Matters Related to [*]	SA-10
	LA-1701714	Special Matters for 737-7 Aircraft	SA-24
	LA-1704831	Special Matters Relating to [*]	SA-14
	LA-1704362	[*]	SA-15
	LA-1805016	[*]	SA-18
	LA-1805303	[*]	SA-18
	LA-2003489	[*]	SA-26

									
	HAZ-PA-03791	iii
	SA-28
		BOEING PROPRIETARY	

Enclosure 1

TABLE OF CONTENTS

									
	LA-2100098	Miscellaneous Matters – Block I Aircraft	SA-27
	LA-2101360	Miscellaneous Matters – Block J Aircraft	SA-28

									
	HAZ-PA-03791	iv
	SA-28
		BOEING PROPRIETARY	

									
		Table 1A	Enclosure 2
	to Purchase Agreement No. PA-03791
737-8 Block A [*] Aircraft Delivery, Description, Price and Advance Payments

																																	
	Airframe Model/MTOW:		737-8	181,200 pounds		Detail Specification:	D019A007-B (5/18/2012)	
	Engine Model/Thrust:		CFM-LEAP-1B	0 pounds		Airframe Price Base Year/Escalation Formula:	[*]	[*]
	Airframe Price:			[*]		Engine Price Base Year/Escalation Formula:	[*]	[*]
	Optional Features:			[*]						
	Sub-Total of Airframe and Features:		[*]		Airframe Escalation Data:			
	Engine Price (Per Aircraft):		[*]		Base Year Index (ECI):		[*]	
	Aircraft Basic Price (Excluding BFE/SPE):		[*]		Base Year Index (CPI):		[*]	
	Buyer Furnished Equipment (BFE) Estimate:	[*]						
	Seller Purchased Equipment (SPE) Estimate:	[*]						
											
	Refundable Deposit/Aircraft at Proposal Accept:	[*]						
											
			Manufacturer	Escalation			Escalation Estimate	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):
	Delivery	Number of	Serial	Factor		P.A.	Adv Payment Base	[*]	[*]	[*]	[*]
	Date	Aircraft	No.	(Airframe)	Lessee	Exhibit A	Price Per A/P	[*]	[*]	[*]	[*]
	[*]-2018	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]

									
	HAZ-PA-03791 60521, 63035	Boeing Proprietary	SA-28 Page 1 of 2

									
		Table 1A	Enclosure 2
	to Purchase Agreement No. PA-03791
737-8 Block A [*] Aircraft Delivery, Description, Price and Advance Payments

																																	
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]-2021	[*]	[*]	[*]	[*]	[*]	[*]
	Total:	47									
											
	[*]
	
	Manufacturer serial number is subject to change due to production changes.						

									
	HAZ-PA-03791 60521, 63035	Boeing Proprietary	SA-28 Page 2 of 2

									
		Table 1B	Enclosure 3
	to Purchase Agreement No. PA-03791 
737-9 Block B [*] Aircraft Delivery, Description, Price and Advance Payments

																																	
	Airframe Model/MTOW:		737-9	194,700 pounds		Detail Specification:		D019A007-B (5/18/2012)	
	Engine Model/Thrust:		CFM-LEAP-1B	0 pounds		Airframe Price Base Year/Escalation Formula:	[*]	[*]
	Airframe Price:			[*]		Engine Price Base Year/Escalation Formula:	[*]	[*]
	Optional Features:			[*]						
	Sub-Total of Airframe and Features:		[*]		Airframe Escalation Data:			
	Engine Price (Per Aircraft):		[*]		Base Year Index (ECI):		[*]	
	Aircraft Basic Price (Excluding BFE/SPE):	[*]		Base Year Index (CPI):		[*]	
	Buyer Furnished Equipment (BFE) Estimate:	[*]						
	Seller Purchased Equipment (SPE) Estimate:	[*]						
					[*]						
	Refundable Deposit/Aircraft at Proposal Accept:	[*]						
											
			Manufacturer	Escalation			Escalation Estimate	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):
	Delivery	Number of	Serial	Factor		P.A.	Adv Payment Base	[*]	[*]	[*]	[*]
	Date	Aircraft	No.	(Airframe)	Lessee	Exhibit A	Price Per A/P	[*]	[*]	[*]	[*]
	[*]-2019	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	[*]-2022	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
											
	Total:	15									
											
	
											
	Manufacturer serial number is subject to change due to production changes.

									
	HAZ-PA-03791 60522-1F.TXT	Boeing Proprietary	SA-28 Page 1 of 1

									
		Table 1J	Enclosure 4
	to Purchase Agreement No. PA-03791
737-8 Block J [*] Aircraft Delivery, Description, Price and Advance Payments

																																	
	Airframe Model/MTOW:		737-8	174,166 pounds		Detail Specification:		D019A008-B (5/18/2012)	
	Engine Model/Thrust:		CFMLEAP-1B25	25,000 pounds		Airframe Price Base Year/Escalation Formula:	[*]	[*]
	Airframe Price:			[*]		Engine Price Base Year/Escalation Formula:	[*]	[*]
	Optional Features:			[*]						
	Sub-Total of Airframe and Features:		[*]		Airframe Escalation Data:			
	Engine Price (Per Aircraft):			[*]		Base Year Index (ECI):		[*]	
	Aircraft Basic Price (Excluding BFE/SPE):		[*]		Base Year Index (CPI):		[*]	
	Buyer Furnished Equipment (BFE) Estimate:		[*]						
	Seller Purchased Equipment (SPE) Estimate:		[*]						
	LIFT Seats Provided by Boeing (Estimate):		[*]						
	Deposit per Aircraft:			[*]						
			Manufacturer	Escalation			Escalation Estimate	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):
	Delivery	Number of	Serial	Factor	Lessee	P.A.	[*]	[*]	[*]	[*]	[*]
	Date	Aircraft	No.	(Airframe)		Exhibit A	[*]	[*]	[*]	[*]	[*]
	[*]-2021	1	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]	[*]
	Total:	1									
											
	Manufacturer serial number is subject to change due to production changes.						
											
											
											
											

									
	HAZ-PA-03791 117000-1F.txt	Boeing Proprietary	SA-28 Page 1 of 1

Enclosure 5

HAZ/[*] 737-8 AIRCRAFT CONFIGURATION [*]

between

THE BOEING COMPANY

and

AIR LEASE CORPORATION

Exhibit A7-1

to Purchase Agreement Number PA-03791

									
	HAZ-PA-03791-EXA7-1    
	BOEING PROPRIETARY
	SA-28 EXA Page 1

Enclosure 5

Exhibit A7-1

AIRCRAFT CONFIGURATION

Dated July 22, 2021

relating to

BOEING MODEL 737-8 AIRCRAFT

The Detail Specification is [*].  The Detail Specification provides further description of Customer’s configuration set forth in this Exhibit A.  Such Detail Specification will be comprised of Boeing Configuration Specification [*]. Boeing will furnish to Customer copies of the Detail Specification, which copies will reflect [*].

									
	HAZ-PA-03791-EXA7-1    
	BOEING PROPRIETARY
	SA-28 EXA Page 2

									
		Exhibit A7-1 to 
Boeing Purchase Agreement	

									
	Customer	Air Lease Corporation - [*]	
	Model	737-8	
	Base Date	[*]	
	[*]		

									
	PA No. 3791 SA-28
Exhibit A7-1 [*]	 Boeing Proprietary 	Page 1 of 1

Enclosure 6

HAZ/[*] 737-9 AIRCRAFT CONFIGURATION [*]

between

THE BOEING COMPANY

and

AIR LEASE CORPORATION

Exhibit A22-1

to Purchase Agreement Number PA-03791

									
	HAZ-PA-03791-EXA22-1
		EXA Page 1

	

	BOEING PROPRIETARY
	SA-28

Enclosure 6

Exhibit A22-1

AIRCRAFT CONFIGURATION

Dated July 22, 2021

relating to

BOEING MODEL 737-9 AIRCRAFT

The Detail Specification is [*].  The Detail Specification provides further description of Customer’s configuration set forth in this Exhibit A. Such Detail Specification will be comprised of Boeing Configuration Specification [*]. Boeing will furnish to Customer copies of the Detail Specification, which copies will reflect [*].

									
	HAZ-PA-03791-EXA22-1
		EXA Page 2

	

	BOEING PROPRIETARY
	SA-28

									
		Exhibit A22-1 to 
 Boeing Purchase Agreement	

									
	Customer	HAZ - Air Lease Corporation - [*]	
	Model	737-8	
	Base Date	[*]	
	[*]		

									
	PA No. 3791 SA-28
Exhibit A22-1 [*]	Boeing Proprietary	Page 1 of 1

												
				Enclosure 7
	
		The Boeing Company P.O. Box 3707 Seattle, WA 98124 2207	

HAZ-PA-03791-LA-1208078R11

Air Lease Corporation
2000 Avenue of the Stars, Suite 1000N
Los Angeles, CA 90067

Subject:    Advance Payment Matters

Reference:    Purchase Agreement No. PA-03791 (Purchase Agreement) between The Boeing Company (Boeing) and Air Lease Corporation (Customer) relating to Model 737-8 and 737-9 aircraft (Aircraft)
This letter agreement (Letter Agreement) cancels and supersedes all previous versions with an acceptance date prior to the acceptance date indicated below and amends and supplements the Purchase Agreement.  All terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement.
The Purchase Agreement incorporates the terms and conditions of HAZ-AGTA between Boeing and Customer.  This Letter Agreement modifies certain terms and conditions of the AGTA with respect to the Aircraft.

1.Deferred Advance Payment Schedule.  
1.1Notwithstanding the Aircraft advance payment schedule provided in Table 1 of the Purchase Agreement, Customer may elect to pay an alternative fixed advance payment schedule for the Aircraft, as set forth below (Alternative Advance Payment Schedule).
[*]

1.2[*]

2.[*]

3.[*]

    SA-28
    Page 1
BOEING PROPRIETARY

									
			Enclosure 7
	
		

4.[*]

5.Assignment.
Notwithstanding any other provisions of the Purchase Agreement, the rights and obligations described in this Letter Agreement are provided to Customer in consideration of Customer taking title to the Aircraft at the time of delivery and leasing the Aircraft and cannot be assigned in whole or, in part.
6.Confidential Treatment. 
Customer understands and agrees that the information contained herein represents confidential business information of Boeing and has value precisely because it is not available generally or to other parties.  Customer agrees to limit the disclosure of its contents to (a) its directors and officers, (b)  employees of Customer with a need to know the contents for performing its obligations (including, without limitation, those employees performing accounting, finance, administration and other functions necessary to finance and purchase, deliver or lease the Aircraft) and who understand they are not to disclose its contents to any other person or entity (other than those to whom disclosure is permitted by this paragraph 6) without the prior written consent of Boeing and (c) any auditors, financial advisors, attorneys and independent contractors of Customer who have a need to know such information and have signed a confidentiality agreement in the same form and substance similar to this paragraph 6.  Customer shall be fully responsible to Boeing for compliance with such obligations.

Very truly yours,

												
	THE BOEING COMPANY	
	By	/s/ Sydney A. Bard	
	
	Its	Attorney-in-fact	
		
	ACCEPTED AND AGREED TO this	
		
	Date:	July 22                           , 2021	
		
	AIR LEASE CORPORATION	
		
	By	/s/ Grant Levy	
		
	Its	Executive Vice President	

									
	HAZ-PA-03791-LA-1208078R11                                                        
Advance Payment Matters                                                               
		SA-28

		BOEING PROPRIETARY
	Page 2

												
				Enclosure 8
	
		The Boeing Company P.O. Box 3707 Seattle, WA 98124 2207	

HAZ-PA-03791-LA-1208090R11

Air Lease Corporation
2000 Avenue of the Stars, Suite 1000N    
Los Angeles, CA 90067

Subject:    Special Matters for 737-8 and 737-9 Aircraft

Reference:    Purchase Agreement No. PA-03791 (Purchase Agreement) between The Boeing Company (Boeing) and Air Lease Corporation (Customer) relating to Model 737-8 and 737-9 aircraft (Aircraft)

This letter agreement (Letter Agreement) cancels and supersedes all previous versions with an acceptance date prior to the acceptance date indicated below and 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.Credit Memoranda. In consideration of Customer’s purchase of the Aircraft, at the time of delivery of each such Aircraft or [*], unless otherwise noted, Boeing will provide to Customer the following credit memoranda:
1.1Basic Credit Memorandum.  Boeing will issue to Customer a basic credit memorandum (Basic Credit Memorandum) at delivery of each Aircraft or [*] in an amount shown in the table immediately below for the respective minor model [*]. 
																		
	Basic Credit Memorandum	
	 	 	Model Type	
	Aircraft Block	[*]	737-8 Aircraft	737-9 Aircraft	737-9 [*]
	737-8 [*]

	Block A	[*]	[*]	[*]	[*] 
	[*]
	Block B	[*]	[*]	[*] 
	[*] 
	[*]
	Block C	[*]	[*]	[*]	[*]	[*]
	Block D	[*]	[*]	[*]	[*]	[*]
	Block E	[*]	[*]	[*]	[*]	[*]
	Block G	[*]	[*]	[*]	[*]	[*]
	Block H	[*]	[*]	[*]	[*]	[*]

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BOEING PROPRIETARY

									
	
		
			Enclosure 8

1.2Leasing Credit Memorandum.  Customer expressly intends to lease the Aircraft and [*] to a third party or parties (Lessee or Lessees) who are in the commercial airline business as aircraft operators.  As an additional consideration and incentive for entering into a lease for the Aircraft and [*] prior to delivery of each such Aircraft or [*], Boeing will issue to Customer a leasing credit memorandum (Leasing Credit Memorandum) in an amount shown in the table immediately below for the respective Aircraft or [*] minor model and [*].  Customer will not be permitted to assign this Leasing Credit Memorandum without the prior written consent of Boeing.

																		
	Leasing Credit Memorandum	
	 	 	Model Type	
	Aircraft Block	[*]	737-8 Aircraft	737-9 Aircraft	737-9 [*]
	737-8 [*]

	Block A	[*]	[*]	[*] 
	[*]	[*]
	Block B	[*]	-[*]
	[*] 
	[*]	[*]
	Block C	[*]	[*]	[*]	[*]	[*]
	Block D	[*]	[*] 
	[*]	[*]	[*]
	Block E	[*]	[*]	[*]	[*]	[*]
	Block G	[*]	[*]	[*]	[*]	[*]
	Block H	[*]	[*]	[*]	[*]	[*]

1.3[*]
1.4[*].
1.5[*]
1.6[*].
1.7[*]
1.8[*]
1.9[*]
1.10[*]
1.11[*]
1.12[*]
1.13[*]
1.14[*]
1.15[*]
1.16[*]
1.17[*]
HAZ-PA-03791-LA-1208090R11    SA-28
Special Matters for 737-8 and 737-9 Aircraft    Page 2
BOEING PROPRIETARY

									
	
		
			Enclosure 8

1.18[*]
1.19[*]
1.20[*]
1.21[*]
1.22[*]. 
1.23[*]
1.24[*]
1.25[*]
1.26[*]
1.27[*]
1.28[*]
1.29[*]
1.30[*]
1.31[*]
1.32[*]
1.33[*]
1.34[*]
1.35[*]
1.36[*]
1.37Escalation of Credit Memoranda. Unless otherwise noted, the amounts of the Credit Memoranda stated in [*] will be escalated from the base year indicated to the scheduled month of the respective Aircraft or [*] delivery pursuant to the Airframe Escalation formula set forth in the Purchase Agreement applicable to such Aircraft or [*].  The Credit Memoranda may, at the election of Customer, be (i) applied against the Aircraft Price of the respective Aircraft or [*] at the time of delivery, or (ii) used for the purchase of other Boeing goods and services (but shall not be applied to advance payments).
2.[*]

3.[*]

4.[*]

HAZ-PA-03791-LA-1208090R11    SA-28
Special Matters for 737-8 and 737-9 Aircraft    Page 3
BOEING PROPRIETARY

									
	
		
			Enclosure 8

5.Assignment.
Unless otherwise noted herein, the Credit Memoranda described in this Letter Agreement are provided as a financial accommodation to Customer and in consideration of Customer’s taking title to the Aircraft and [*] at time of delivery and leasing the Aircraft and [*].  This Letter Agreement cannot be assigned, in whole or in part, without the prior written consent of Boeing.
6.Confidentiality.
Customer understands and agrees that the information contained herein represents confidential business information of Boeing and has value precisely because it is not available generally or to other parties.  Customer agrees to limit the disclosure of its contents to (a) its directors and officers, (b)  employees of Customer with a need to know the contents for performing its obligations (including, without limitation, those employees performing accounting, finance, administration and other functions necessary to finance and purchase, deliver or lease the Aircraft) and who understand they are not to disclose its contents to any other person or entity (other than those to whom disclosure is permitted by this paragraph 6) without the prior written consent of Boeing and (c) any auditors, financial advisors, attorneys and independent contractors of Customer who have a need to know such information and have signed a confidentiality agreement in the same form and substance similar to this paragraph 6.  Customer shall be fully responsible to Boeing for compliance with such obligations.  

Very truly yours,

															
	THE BOEING COMPANY	
		
	By	/s/ Sydney A. Bard	
					
	Its
	Attorney-in-fact
	
		
	ACCEPTED AND AGREED TO this	
		
	Date:	July 22, 2021	
		
	AIR LEASE CORPORATION	
		
	By	/s/ Grant Levy	
		
	Its	Executive Vice President	

HAZ-PA-03791-LA-1208090R11    SA-28
Special Matters for 737-8 and 737-9 Aircraft    Page 4
BOEING PROPRIETARY

												
				Enclosure 9
	
		The Boeing Company P.O. Box 3707 Seattle, WA 98124 2207	

HAZ-PA-03791-LA-2101360

Air Lease Corporation
2000 Avenue of the Stars, Suite 1000N    
Los Angeles, CA 90067

Subject:    Miscellaneous Matters – Block J Aircraft

Reference:    Purchase Agreement No. PA-03791 (Purchase Agreement) between The Boeing Company (Boeing) and Air Lease Corporation (Customer) relating to Model 737-8 and 737-9 aircraft (Aircraft)

This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in this Letter Agreement will have the same meaning as in the Purchase Agreement. This Letter Agreement applies to the Aircraft in Table 1J of the Purchase Agreement (Block J Aircraft).
    For purposes of this Letter Agreement, [*].

1.[*]

2.[*]

3.[*]

4.Maintenance Planning Document Tasks. 
4.1In accordance with AGTA Article 3.1 Certificates, Boeing will provide a FAA Standard Certificate of Airworthiness or Export Certificate of Airworthiness at delivery of each Block J Aircraft. Without exception and for the Block J Aircraft, maintenance tasks with calendar time driven intervals, as defined and performed in accordance with Maintenance Planning Document No. D626A011, are based on the date of issuance of the Certificate of Airworthiness. Prior to delivery, Boeing will issue to Customer documentation which summarizes the maintenance tasks performed on the Block J Aircraft prior to transfer of title of such Block J Aircraft. 
4.2Boeing further confirms that the maintenance clock start-time for landing gear parts and the first landing gear overhaul for the Block J Aircraft begins on the issuance of the Certificate of Airworthiness. 
4.3If there are any future deviations or exceptions to this approach on the timing of the maintenance clock start-time for the Block J Aircraft, as determined by the 
    SA-28 Page 1
BOEING PROPRIETARY

									
	
		Enclosure 9

FAA or another civil aviation authority, then Boeing will assist Customer in any related technical discussions with the aim of sharing Boeing’s rationale for why time driven maintenance intervals are, from a Boeing perspective, based on the issuance of the Certificate of Airworthiness.  
4.4Upon delivery of the Block J Aircraft to Customer, Boeing will provide a list of all hard time parts, life limited parts and time tracked parts installed on the Block J Aircraft, which will include the relevant time consumed for such parts.  In addition, Boeing will support any other reasonable Customer requests for traceability documents involving equipment installed on Block J Aircraft.
4.5Boeing is looking into a potential attachment to the Airworthiness Directive letters to provide compliance statements (including method of compliance) and support documentation related to the 737-8 and 737-9 return to service airworthiness directive as issued by the FAA, EASA and any other regulatory authority having specific return to service requirements.
5.[*]

6.Confidentiality.
Customer understands and agrees that the information contained herein represents confidential business information of Boeing and has value precisely because it is not available generally or to other parties.  Customer agrees to limit the disclosure of its contents to (a) its directors and officers, (b)  employees of Customer with a need to know the contents for performing its obligations (including, without limitation, those employees performing accounting, finance, administration and other functions necessary to finance and purchase, deliver or lease the Aircraft) and who understand they are not to disclose its contents to any other person or entity (other than those to whom disclosure is permitted by this paragraph 6) without the prior written consent of Boeing and (c) any auditors, financial advisors, attorneys and independent contractors of Customer who have a need to know such information and have signed a confidentiality agreement in the same form and substance similar to this paragraph 6.  Customer shall be fully responsible to Boeing for compliance with such obligations. 
									
	HAZ-PA-03791-LA-2101360                        
	

	SA-28 Page 2

		BOEING PROPRIETARY
	

									
	
		Enclosure 9

Very truly yours,

																		
	THE BOEING COMPANY	
		
	ACCEPTED AND AGREED TO this			
				
	Date:	July 22, 2021
			
				
	AIR LEASE CORPORATION			THE BOEING COMPANY
				
	By:	/s/ Grant Levy		By:	/s/ Sydney A. Bard
				
	Name:	Grant Levy		Name:	Sydney A. Bard
				
	Title:	Executive Vice President		Title:	Attorney-In-Fact

									
	HAZ-PA-03791-LA-2101360                        
	

	SA-28 Page 3

		BOEING PROPRIETARYDocument

THE MDU RESOURCES GROUP, INC. DEFERRED COMPENSATION PLAN 

ADOPTION AGREEMENT

THIS AGREEMENT is the adoption by MDU Resources Group, Inc. (the "Company") of the MDU Resources Group, Inc. Deferred Compensation Plan ("Plan").

W I T N E S S E T H:

WHEREAS, the Company desires to adopt the Plan as an unfunded, nonqualified deferred compensation plan; and

WHEREAS, the provisions of the Plan are intended to comply with the requirements of Section 409A of the Code and the regulations thereunder and shall apply to amounts subject to section 409A; and

WHEREAS, the Company has been advised by Principal Life Insurance Company to obtain legal and tax advice from its professional advisors before adopting the Plan,

NOW, THEREFORE, the Company hereby adopts the Plan in accordance with the terms and conditions set forth in this Adoption Agreement:

ARTICLE I

Terms used in this Adoption Agreement shall have the same meaning as in the Plan, unless some other meaning is expressly herein set forth. The Company hereby represents and warrants that the Plan has been adopted by the Company upon proper authorization and the Company hereby elects to adopt the Plan for the benefit of its Participants as referred to in the Plan. By the execution of this Adoption Agreement, the Company, for itself and its subsidiaries, hereby agrees to be bound by the terms of the Plan.

ARTICLE II

The Employer hereby makes the following designations or elections for the purpose of the Plan:

2.6    Committee:    The duties of the Committee set forth in the Plan shall be satisfied by:

        (a)    Company

        (b)    The administrative committee appointed by the Board to serve at the pleasure of the Board.

        (c)    Board.

XX    (d)    Other (specify): The Compensation Committee of the MDU Resources Board of Directors, or its designee.

2.8Compensation: The "Compensation" of a Participant shall mean all of a Participant's:
XX    (a)    Base salary.

XX    (b)    Service Bonus.

XX Service Bonus earned from 1/1 – 12/31, paid on or around first quarter of the following Plan Year.

Classification: Customer Confidential

        Service Bonus earned each calendar quarter, paid on or around the following calendar quarter.

        Service Bonus with no defined earnings period (e.g.: a “spot bonus”)

XX    (c)    Performance-Based Compensation earned in a period of 12 months or more.

XX Performance Based Bonus earned from 1/1 – 12/31, paid on or around first quarter the following Plan Year and whose elections must be made no later than 6/30 of the Plan Year it is earned.

         Performance Based Bonus earned from     , paid on or around
      the following Plan Year and whose elections must be made no later than       of the Plan Year it is earned.

        (d)    Commissions.

XX    (e)    Compensation received as an Independent Contractor reportable on Form 1099.

        (f)    Other:

2.9        Crediting Date: The Deferred Compensation Account of a Participant shall be credited as follows:

Participant Deferral Credits at the time designated below:
XX    (a)    On any business day as specified by the Employer.

        (b)    Each pay day as reported by the Employer.

        (c)    The last business day of each payroll period during the Plan Year.

Employer Credits at the time designated below:

XX    (a)    On any business day as specified by the Employer.

DD2320-9
2
Classification: Customer Confidential

2.13Effective Date:
(a)This is a newly-established Plan, and the Effective Date of the Plan is January 1, 2021.

XX    (b)    This is an amendment of a plan named MDU Resources Group, Inc.
Deferred Compensation Plan dated January 1, 2021 and governing all
contributions to the plan through and after August 12, 2021. The Effective Date of this amended Plan is August 12, 2021.

2.20Normal Retirement Age: The Normal Retirement Age of a Participant shall be:

XX    (a)    Age 65.

        (b)    The  later  of  age     or  the     anniversary of the participation

commencement date. The participation commencement date is the first day of the first Plan Year in which the Participant commenced participation in the Plan.

        (c)    Other:     .

2.23    Participating Employer(s): As of the Effective Date, the following Participating Employer(s) are parties to the Plan:

						
	Name of Employer	EIN
	MDU Resources Group, Inc. for itself and
     its subsidiaries          
	

30-1133956    

2.26    Plan: The name of the Plan is

MDU Resources Group, Inc. Deferred Compensation Plan.

2.28    Plan Year: The Plan Year shall end each year on the last day of the month of December.

2.30    Seniority Date: The date on which a Participant has:

        (a)    Attained age .

        (b)    Completed Years of Service from First Date of Service.

        (c)    Attained age and completed Years of Service from First Date of Service.

XX    (d)    Not applicable – distribution elections for Separation from Service are not based on Seniority Date.

DD2320-9
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Classification: Customer Confidential

4.1Participant Deferral Credits: Subject to the limitations in Section 4.1 of the Plan, a Participant may elect to have his Compensation (as selected in Section 2.8 of this Adoption Agreement) deferred within the annual limits below by the following percentage or amount as designated in writing to the Committee:

XX    (a)    Base salary:

minimum deferral:          %

maximum deferral:     80     %

XX    (b)    Service Bonus:

XX    Service Bonus

minimum deferral:          %

maximum deferral:     100     %

XX    (c)    Performance-Based Compensation:

XX    Performance Based Bonus

minimum deferral:          %

maximum deferral:     100     %

        (d)    Commissions:

									
	minimum deferral:		%
	maximum deferral:		%

XX    (e)    Form 1099 Compensation:

minimum deferral:          %

maximum deferral:     100     %

        (f)    Other:
									
	minimum deferral:		%
	maximum deferral:		%

        (g)    Participant deferrals not allowed.

DD2320-9
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Classification: Customer Confidential

4.1.2    Participant Deferral Credits and Employer Credits – Election Period: Participant elections regarding Participant Deferral Credits and Employer Credits shall be subject to the following effective periods (one must be selected):
XX           (a) Evergreen election. An election made by the Participant shall continue in effect for subsequent years until modified by the Participant as permitted in Section 4.1and Section 4.2. (This option is not permitted if source year accounts are elected in Section 4.3)

               (b) Non-Evergreen election. Any election made by the Participant shall only remain in effect for the current election period and will then expire. An election for each subsequent year will be required as permitted in Sections 4.1 and 4.2.

4.2Employer Credits: Employer Credits will be made in the following manner:
XX    (a)    Employer Credits 1 (Employer Discretionary Credits): The Employer may make discretionary credits to the Deferred Compensation Account of each Active Participant in an amount determined as follows:
XX    (i)    An amount determined each Plan Year by the Employer.

        (ii)    Other:     .

        (b)    Employer Credits 2 (Other Employer Credits): The Employer may make other credits to the Deferred Compensation Account of each Active Participant in an amount determined as follows:
        (i)    An amount determined each Plan Year by the Employer.

        (ii)    Other:     .

        (c)    Employer Credits not allowed.

DD2320-9
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Classification: Customer Confidential

4.3        Deferred Compensation Account: The Participant is permitted to establish the following accounts:
XX    (a)    Non-source year account(s). Deferred Compensation Account(s) will not be established on a source year basis:

            (i)   A Participant may establish only one account to be distributed upon Separation from Service. One set of payment options for that account is allowed as permitted in Section 7.1. Additional In-Service or Education accounts may be established as permitted in Section 5.4.

XX   (ii)   A Participant may establish multiple accounts to be distributed upon Separation from Service. Each account may have one set of payment options as permitted in Section 7.1 Additional In-Service or Education accounts may be established as permitted in Section 5.4. If this multiple account option is elected, the Participant will also be required to elect Separation from Service payment options for each In-Service or Education account established.

             (b) Source year account(s): Annual Deferred Compensation Account(s) will be established each year in which Participant Deferral Credits or Employer Credits are credited to the Participant. Only one account may be established each year for distribution upon Separation from Service. One set of payment options for that account is allowed as permitted in Section 7.1. Additional In-Service or Education accounts may be established for each source year as permitted in Section 5.4. If this option is selected, Evergreen elections as described in Section 4.1.2 are not permitted.

5.2Disability of a Participant:
XX       (a)     A Participant's becoming Disabled shall be a Qualifying Distribution Event and the Deferred Compensation Account shall be paid by the Employer as provided in Section 7.1.

        (b)    A Participant becoming Disabled shall not be a Qualifying Distribution Event.

5.3        Death of a Participant: If the Participant dies while in Service, the Employer shall pay a benefit to the Beneficiary in an amount equal to the vested balance in the Deferred Compensation Account of the Participant determined as of the date payments to the Beneficiary commence, plus:
        (a)    An amount to be determined by the Committee.

XX    (b)    No additional benefits.

DD2320-9
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Classification: Customer Confidential

5.4        In-Service or Education Distributions: In-Service and Education Accounts are permitted under the Plan:
XX    (a)    In-Service Accounts are allowed with respect to:
XX    Participant Deferral Credits only.
        Employer Credits only.
        Participant Deferral and Employer Credits.

In-service distributions may be made in the following manner:
XX    Single lump sum payment.
XX    Annual installments over a term certain not to exceed 5 years.

Education Accounts are allowed with respect to:
        Participant Deferral Credits only.
        Employer Credits only.
        Participant Deferral and Employer Credits.

Education Accounts distributions may be made in the following manner:
        Single lump sum payment.
        Annual installments over a term certain not to exceed        years.

If applicable, amounts not vested at the time payments due under this Section cease will be:
        Forfeited
        Distributed at Separation from Service if vested at that time

        (b)    No In-Service or Education Distributions permitted.

5.5Change in Control Event:
        (a)    Participants may elect upon initial enrollment to have accounts distributed upon a Change in Control Event.

XX    (b)    A Change in Control shall not be a Qualifying Distribution Event.

5.6Unforeseeable Emergency Event:
XX    (a)    Participants may apply to have accounts distributed upon an Unforeseeable Emergency event.

                 (b)       An Unforeseeable Emergency shall not be a Qualifying Distribution Event.

DD2320-9
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Classification: Customer Confidential

6.    Vesting: An Active Participant shall be vested in the Employer Credits made to the Deferred Compensation Account upon the first to occur of the following events:
         (a)    Normal Retirement Age.

XX    (b)    Full vesting upon Death.

XX    (c)    Full vesting upon Disability.

XX    (d)    Full vesting after attaining age sixty-five (65) and completing at least ten (10) “years of continuous service” with the Company.

XX    (e)    Involuntary separates from service with the Company within twelve (12) months of a “change in control” of the Participant’s direct Employer (within the meaning of Code Section 409A), then such Participant shall have a nonforfeitable (vested) right to 100% of the amounts credited to the Participant’s account(s).

XX    (f)    Satisfaction of the vesting requirement as specified below:

												
	  
	(i)	Immediate 100% vesting.	
	  
	(ii)	100% vesting after       Years of Service.
	
	  
	(iii)	100% vesting at age      .
	
	XX	(iv)	Number of Years                             
of Service                                    
	Vested Percentage

												
	Less than	1	    0    
	%
		1	   34
	%
		2	   67
	%
		3	  100
	%
		4		%
		5		%
		6		%
		7		%
		8		%
		9		%
		10 or more		%

For this purpose, Years of Service of a Participant shall be calculated from the date designated below:									
	  
	(1)
	First day of Service.
	  
	(2)
	Effective date of Plan participation.
	XX
	(3)
	Each Crediting Date. Under this option (3), each Employer Credit shall vest based on the Years of Service of a Participant from the Crediting Date on which each Employer Credit is made to his or her
Deferred Compensation Account.

DD2320-9
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Classification: Customer Confidential

        Employer Credits 2 (Other Employer Credits):

												
	  
	(i)
	Immediate 100% vesting.	
	  
	(ii)
	100% vesting after           Years of Service.
	
	  
	(iii)
	100% vesting at age        .
	
	  
	(iv)
	Number of Years                     
of Service                                            
	Vested Percentage

									
	Less than	1	       %

		1	       %

		2	       %

		3	       %

		4	       %

		5	       %

		6	       %

For this purpose, Years of Service of a Participant shall be calculated from the date designated below:

        (1)    First day of Service.

        (2)    Effective date of Plan participation.

             (3)     Each Crediting Date.  Under this  option  (3),  each  Employer Credit shall vest based on the Years of Service of a Participant from the Crediting Date on which each Employer Discretionary Credit is made to his or her Deferred Compensation Account.

7.1     Payment Options: Any benefit payable under the Plan upon a permitted Qualifying Distribution Event may be made to the Participant or his Beneficiary (as applicable) in any of the following payment forms, as selected by the Participant in the Participation Agreement:

(a)Separation from Service (Seniority Date is Not Applicable)

XX    (i)    A lump sum.

XX    (ii)    Annual installments over a term certain as elected by the Participant not to exceed 10 years.

(b)Separation from Service prior to Seniority Date (If Applicable)

        (i)    A lump sum.

XX    (ii)    Not Applicable

(c)Separation from Service on or After Seniority Date (If Applicable)

(i)A lump sum.

DD2320-9
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Classification: Customer Confidential

        (ii)    Annual installments over a term certain as elected by the Participant not to exceed years.

XX    (iii)    Not Applicable

(d)Separation from Service Upon a Change in Control Event

XX    (i)    A lump sum.

(e)Death

XX    (i)    A lump sum.

        (ii)    Annual installments over a term certain as elected by the Participant not to exceed            years.

(f)Disability

XX    (i)    A lump sum.

XX    (ii)    Annual installments over a term certain as elected by the Participant not to exceed 10 years.

        (iii)    Not applicable.

If applicable, amounts not vested at the time payments due under this Section cease will be:
        Forfeited
        Distributed at Separation from Service if vested at that time

(g)Change in Control Event

        (i)    A lump sum.

XX    (ii)    Not Applicable

If applicable, amounts not vested at the time payments due under this Section cease will be:
        Forfeited
        Distributed at Separation from Service if vested at that time

7.4    De Minimis Amounts.

XX (a) Notwithstanding any payment election made by the Participant, the vested balance in all Deferred Compensation Account(s) of the Participant will be distributed in a single lump sum payment at the time designated under the Plan if at the time of a permitted Qualifying Distribution Event that is either a Separation from Service, death, Disability (if applicable) or Change in Control Event (if applicable) the vested balance does not exceed $50,000. In addition, the Employer may distribute a Participant's vested balance in all Deferred Compensation Account(s) of the Participant at any time if the balance does not exceed the limit in Section 402(g)(1)(B) of the Code and results in the termination of the Participant's 

DD2320-9
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Classification: Customer Confidential

entire interest in the Plan and any other Employer plan subject to aggregation under Section 409A of the Code.

        (b)     There shall be no pre-determined de minimis amount under the Plan; however, the Employer may distribute a Participant's vested balance at anytime if the balance does not exceed the limit in Section 402(g)(1)(B) of the Code and results in the termination of the Participant's entire interest in the Plan and any other Employer plan subject to aggregation under Section 409A of the Code.

10.1    Contractual Liability: Liability for payments under the Plan shall be the responsibility of the:

XX    (a)    Company.

        (b)    Employer or Participating Employer who employed the Participant when amounts were deferred.

14. Amendment and Termination of Plan: Notwithstanding any provision in this  Adoption Agreement or the Plan to the contrary, Section     of the Plan shall be amended to read as provided in attached Exhibit      

XX    There are no amendments to the Plan.

17.8 Construction: The provisions of the Plan shall be construed and enforced according to the laws of the State of North Dakota, except to the extent that such laws are superseded by ERISA and the applicable provisions of the Code.

IN WITNESS WHEREOF, this Agreement has been executed as of the day and year stated below.

MDU Resources Group, Inc.
Name of Employer

						
	By:	
	Authorized Person
	Date:	

DD2320-9
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Classification: Customer Confidential

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