Document:

EX-10.5

 Exhibit 10.5 

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
(I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO FEDEX IF PUBLICLY DISCLOSED. 
  

			
	

	  	 FEC
07-0255-046           
  

The Boeing Company     

P.O. Box 3707                

Seattle, WA 98124-2207

 FED-PA-3157-LA-1902776 
 Federal Express Corporation 

3131 Democrat Road 
 Memphis, TN 38118 

 

			
	Attention:	  	 Mr. Guy See
 Managing Director –
Aircraft Acquisitions & Sales

		
	Subject:	  	Revisions to the Detailed Specification and Associated Unincorporated Changes Pricing for 777F Aircraft (Aircraft)
		
	References:	  	Purchase Agreement 3157 between The Boeing Company (Boeing) and Federal Express Corporation (Customer) dated November 7, 2006 relating to Model 777F Aircraft, as amended (777 Purchase Agreement)

 All terms used but not defined in this letter (Letter Agreement) shall have the same meaning as in the referenced 777
Purchase Agreement. 
 l.    Background. 

1.1    The 777 Purchase Agreement sets forth the Detail Specification pursuant to which Boeing manufactures
Customer’s Aircraft. 
 1.2    Pursuant to Article 4, Detailed Specification: Changes, of the AGTA, Boeing
and Customer have agreed upon certain changes to the 777 Aircraft Specification by executing option proposals (each an Option Proposal) for such changes (each an Unincorporated Change). Option Proposals detail the pricing
(Unincorporated Change Price), effective date for the Unincorporated Change, and applicable Aircraft by manufacturer serial number (MSN). 

1.3    [*]. 

2.    Agreement. 

2.1    Boeing and Customer agree that [*]. 

2.2    [*]. 

  

			
	 FED-PA-3712-MISC-1902776
 Follow-On
Unincorporated Changes pricing for 777F Aircraft
	  	Page 1

 BOEING PROPRIETARY 

 

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 2.3    [*]. 

3.    Confidentiality. 

Customer understands and agrees that the information contained herein represents confidential business information and has value precisely
because it is not available generally or to other parties. Customer agrees to limit the disclosure of its contents to employees of Customer with a need to know the contents for purposes of helping Customer perform its obligations under the Purchase
Agreement and who understand they are not to disclose its contents to any other person or entity without the prior written consent of Boeing. 
  

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By:	 	 /s/ Laura Ford

		
	Its:	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	July 9, 2019
	
	FEDERAL EXPRESS CORPORATION
		
	By:	 	 /s/ Kevin Burkhart

		
	Its:	 	 Vice President

  

			
	 FED-PA-3712-MISC-1902776
 Follow-On
Unincorporated Changes pricing for 777F Aircraft
	  	Page 2

 BOEING PROPRIETARY 

Omitted Attachment 
 An attachment to this exhibit
regarding pricing for changes to certain specifications pursuant to which The Boeing Company manufactures FedEx’s B777F aircraft has 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 a copy of the attachment to the Securities and Exchange Commission or its staff upon request. 

 

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.EX-10.6

 Exhibit 10.6 

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 (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO FEDEX IF PUBLICLY DISCLOSED. 

Supplemental Agreement No. 12 

to 
 Purchase Agreement
No. 3712 
 between 
 The
Boeing Company 
 And 
 Federal
Express Corporation 
 Relating to Boeing Model 767-3S2F Aircraft 

THIS SUPPLEMENTAL AGREEMENT, entered into as of June 24, 2019 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 Purchase Agreement No. 3712, dated December 14, 2011 (Purchase Agreement), relating to the
purchase and sale of certain Boeing Model 767-3S2F Aircraft (the Aircraft); and 
 B. WHEREAS,
Customer desires to exercise six (6) Option Aircraft, which shall be designated as Block C Aircraft, with delivery months as set forth in the table below (SA-12 Option Exercise Aircraft): 

 

			
	 Delivery Month &
 Year for
Exercised
 Option Aircraft
	  	Block
	 [*]
	  	Block C
	 [*]
	  	Block C
	 [*]
	  	Block C
	 [*]
	  	Block C
	 [*]
	  	Block C
	 [*]
	  	Block C

  

  
 BOEING PROPRIETARY

 SA12-1 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 Supplemental Agreement No. 12 to 

Purchase Agreement No. 3712 
  

C. WHEREAS, Customer desires to add six (6) Option Aircraft to the Purchase Agreement, hereinafter referred to as Option Aircraft, with
delivery months as set forth in the table below: 
  

			
	 Delivery Month &
 Year for
Option
 Aircraft
	  	Block
	[*]	  	Option Aircraft
	[*]	  	Option Aircraft
	[*]	  	Option Aircraft
	[*]	  	Option Aircraft
	[*]	  	Option Aircraft
	[*]	  	Option Aircraft

 D. WHEREAS, Customer desires to cancel six (6) Purchase Rights from the Purchase Agreement. 

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. 12. 
 2. Boeing and Customer acknowledge and agree that upon execution of this
Supplemental Agreement No. 12 and upon fulfillment of the conditions described in Article 11 below, (i) the six (6) Option Aircraft exercised as firm Aircraft described in Recital Paragraph B above are hereby added to the Purchase
Agreement and are considered by the parties as “Block C Aircraft” and will be deemed “Aircraft” for all purposes under the Purchase Agreement except as otherwise described herein, (ii) the six (6) Option Aircraft
described in Recital Paragraph C above are hereby added to the Purchase Agreement as “Option Aircraft” as described herein and will be deemed such for all purposes under the Purchase Agreement except as otherwise described herein, and
(iii) six (6) Purchase Rights described in Recital Paragraph D above are hereby cancelled from the Purchase Agreement decreasing the total quantity of Purchase Rights to thirty-two (32). 

 

  
 BOEING PROPRIETARY

 SA12-2 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 Supplemental Agreement No. 12 to 

Purchase Agreement No. 3712 
  

3. Revise and replace in its entirety, Table 1-B with a revised Table
1-B, attached hereto, to add the six (6) Aircraft described in Recital Paragraph B above to Table 1-B. 

4. Revise and replace in its entirety Letter Agreement FED-PA-03712-LA-1106156R2, Option Aircraft, with Letter Agreement FED-PA-03712-LA-1106156R3, Option Aircraft, attached hereto, to reflect the [*] for the Option Aircraft described in Recital Paragraph C above. 

5. Revise and replace in its entirety Attachment 1 to Letter Agreement FED-PA-03712-LA-1106156R2, Option Aircraft, attached hereto, to reflect (i) the deletion of the Option Aircraft referred to in Recital Paragraph B
above, and (ii) the addition of the Option Aircraft described in Recital Paragraph C above. 
 6. Revise and replace in its entirety
Attachment 3 to Letter Agreement FED-PA-03712-LA-1106156R2, Option Aircraft,
attached hereto, to reflect the exercise of the Option Aircraft described in Recital Paragraph B above. 
 7. Revise and replace in its
entirety Attachment 4 to Letter Agreement FED-PA-03712-LA-1106156R2, Option
Aircraft, attached hereto, to reflect (i) the exercise of the Option Aircraft described in Recital Paragraph B above and (ii) the addition of the Option Aircraft described in Recital Paragraph C above. 

8. Revise and replace in its entirety Letter Agreement FED-PA-03712-LA-1106158R4, Right to Purchase Additional Aircraft, with Letter Agreement FED-PA-03712-LA-1106158R5, Right to Purchase Additional Aircraft, attached hereto, to reflect the cancellation of six (6) Purchase Rights as
described in Recital Paragraph D above, resulting in a revised quantity of thirty-two (32) Purchase Rights. 

9. Revise and replace in its entirety Letter Agreement FED-PA-03712-LA-1106614R3, Special Matters for Purchase Right Aircraft, with Letter Agreement FED-PA-03712-LA-1106614R4, Special Matters for Purchase Right Aircraft, attached hereto, to reflect the letter agreement
revision described in Paragraph 7 above. 
 10. For the sake of clarity, the parties confirm and agree that the (i) six (6) Block C
Aircraft described in Recital Paragraph B above added herein shall be subject to Letter Agreement
FED-PA-03712-LA-1106159R1, Special Matters Concerning [*] and Letter
Agreement FED-PA-03712-LA-1106584R4, Aircraft Performance Guarantees. 

 

  
 BOEING PROPRIETARY

 SA12-3 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

  

 Supplemental Agreement No. 12 to 

Purchase Agreement No. 3712 
  

11. As a result of the changes incorporated in this Supplemental Agreement No. 12, Customer will [*] applicable to each of the six
(6) Block C Aircraft described in Recital Paragraph B above and added to the Purchase Agreement pursuant to this Supplemental Agreement No. 12 and (ii) an Option Deposit [*] for each of the six (6) Option Aircraft described in
Recital Paragraph C above and added to the Purchase Agreement pursuant to this Supplemental Agreement No. 12. The foregoing results in an [*] (SA-12 Payment Amount). For clarity, the terms “pre-delivery payment(s)”, “PDP(s)” and “advance payment(s)” are used on an interchangeable basis. [*]. 

12. This Supplemental Agreement No. 12 to the Purchase Agreement shall not be effective until executed and delivered by the parties on or
prior to June 28 2019. 
 13. References in the Purchase Agreement and any supplemental agreements and associated letter agreements to
the tables, exhibits, supplemental exhibits and letter agreements listed in the left column of the below table shall be deemed to refer to the corresponding tables, exhibits, supplemental exhibits and letter agreements listed in the right column of
the below table. 
  

			
	Reference	  	Replacement Reference
	FED-PA-03712-LA-1106156R2	  	FED-PA-03712-LA-1106156R3
	FED-PA-03712-LA-1106158R4	  	FED-PA-03712-LA-1106158R5
	FED-PA-03712-LA-1106614R3	  	FED-PA-03712-LA-1106614R4

  

  
 BOEING PROPRIETARY

 SA12-4 
  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

  

 Supplemental Agreement No. 12 to 

Purchase Agreement No. 3712 
  

EXECUTED as of the day and year first above written. 
 THE BOEING
COMPANY 
  

			
	By:	 	 /s/ Laura Ford

		
	Its:	 	Attorney-In-Fact
	
	FEDERAL EXPRESS CORPORATION
		
	By:	 	 /s/ Kevin Burkhart

		
	Its:	 	Vice President Aircraft Acquisition

  
 BOEING PROPRIETARY 

SA12-5 

  

 TABLE OF CONTENTS 

 

							
	 	  	SA Number	 
	 ARTICLES
	  			
			
	 1
	 	Quantity, Model and Description	  			
			
	 2
	 	Delivery Schedule	  			
			
	 3
	 	Price	  			
			
	 4
	 	Payment	  			
			
	 5
	 	Additional Terms	  			
		
	 TABLES
	  			
			
	 1-A
	 	Firm Aircraft Information Table	  	 	10	 
			
	 1-A1
	 	Block B and Block C Aircraft Information Table	  	 	11	 
			
	 1-A2
	 	Block E, Block F and Block G Aircraft Information Table	  	 	11	 
			
	 1-B
	 	Exercised Option Aircraft Information Table	  	 	12	 
			
	 1-B1
	 	Exercised Block D Option Aircraft Information Table	  	 	2	 
			
	 1-C
	 	Exercised Purchase Right Aircraft Information Table	  	 	2	 
			
	 EXHIBIT
	 		  			
			
	 A
	 	Aircraft Configuration	  	 	4	 
			
	 B
	 	Aircraft Delivery Requirements and Responsibilities	  			
		
	 SUPPLEMENTAL EXHIBITS
	  			
			
	 AE1
	 	Escalation Adjustment/Airframe and Optional Features	  			
			
	 BFE1
	 	BFE Variables	  	 	2	 
			
	 CS1
	 	Customer Support Variables	  			
			
	 EE1
	 	Engine Escalation, Engine Warranty and Patent Indemnity	  			
			
	 SLP1
	 	Service Life Policy Components	  			

  

					
	FED-PA-03712	  		  	SA-12
		  	BOEING PROPRIETARY	  	

							
	 	  	SA Number	 
	 LETTER AGREEMENTS
	  			
			
	 LA-1106151R2
	 	LA-Special Matters Concerning [*] – Option	  			
			
		 	Aircraft and Certain Purchase Right Aircraft	  	 	6	 
			
	 LA-1106152
	 	LA-Special Matters Concerning [*] – Firm Aircraft	  			
			
	 LA-1106153
	 	LA-Liquidated Damages Non-Excusable Delay	  			
			
	 LA-1106154R2
	 	LA-Firm Aircraft and Option Aircraft Delivery Matters	  	 	6	 
			
	 LA-1106155
	 	LA-Open Configuration Matters	  			
			
	 LA-1106156R3
	 	LA-Option Aircraft	  	 	12	 
			
		 	Attachment 1 to LA-1106156R3	  	 	12	 
			
		 	Attachment 2 to LA-1106156R3	  	 	6	 
			
		 	Attachment 3 to LA-1106156R3	  	 	12	 
			
		 	Attachment 4 to LA-1106156R3	  	 	12	 
			
	 LA-1106157
	 	AGTA Amended Articles	  			
			
	 LA-1106158R5
	 	LA-Right to Purchase Additional Aircraft	  	 	12	 
			
	 LA-1106159R1
	 	LA-Special Matters Concerning [*]	  	 	1	 
			
	 LA-1106160
	 	LA-Spare Parts Initial Provisioning	  			
			
	 LA-1106163
	 	LA-Demonstration Flight Waiver	  			
			
	 LA-1106177R1
	 	LA-[*]	  	 	6	 
			
	 LA-1106207R1
	 	LA-Special Matters Firm Aircraft	  	 	1	 
			
	 LA-1106208R2
	 	LA-Special Matters Option Aircraft	  	 	1	 
			
	 LA-1106574R1
	 	LA-Agreement for Deviation from the [*]	  	 	6	 
			
	 LA-1106584R4
	 	LA-Aircraft Performance Guarantees	  	 	6	 
			
	 LA-1106586
	 	LA-Miscellaneous Matters	  			
			
	 LA-1106614R4
	 	LA-Special Matters for Purchase Right Aircraft	  	 	12	 
			
	 LA-1106824
	 	LA-Customer Support Matters	  			
			
	 LA-1208292R2
	 	LA-Special Matters Concerning [*] – Block B, Block C, Block E, Block F and Block G Aircraft	  	 	6	 
			
	 LA-1208296R1
	 	LA-Special Matters for Block D Option Aircraft	  	 	6	 
			
	 LA-1208949R1
	 	LA-Special Matters for Aircraft in Table 1-A1	  	 	11	 
			
	
6-1162-SCR-146R2

	 	LA Special Provision - Block B and Block G Aircraft	  	 	11	 
			
	 LA-1306854R1
	 	Performance Guarantees, Demonstrated Compliance	  	 	6	 
			
	
6-1162-LKJ-0696R6

	 	LA-[*]	  	 	6	 
			
	
6-1162-LKJ-0705

	 	LA-Special Matters for Block E, Block F and Block G Aircraft in Table 1-A2	  			
			
	
6-1162-LKJ-0707

	 	LA- Agreement Regarding [*]	  	 	6	 
			
	
6-1162-LKJ-0709

	 	[*] Special Matters	  	 	6	 
			
	
6-1162-LKJ-0728

	 	Special Matters – SA-8 Early Exercise Aircraft	  	 	8	 
			
	
6-1162-LKJ-0744

	 	Special Considerations – SA-10 Accelerated Aircraft	  	 	10	 
			
	
6-1169-LKJ-0773

	 	Special Matters – SA-11	  	 	11	 

  

  

					
	FED-PA-03712	  		  	SA-12
		  	 BOEING PROPRIETARY
  
	  	

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

			
	 SUPPLEMENTAL AGREEMENTS
	  	 DATED AS OF:

	 Supplemental Agreement No. 1
	  	June 29, 2012
		
	 Supplemental Agreement No. 2
	  	October 8, 2012
		
	 Supplemental Agreement No. 3
	  	December 11, 2012
		
	 Supplemental Agreement No. 4
	  	December 10, 2013
		
	 Supplemental Agreement No. 5
	  	September 29, 2014
		
	 Supplemental Agreement No. 6
	  	July 21, 2015
		
	 Supplemental Agreement No. 7
	  	April 18, 2016
		
	 Supplemental Agreement No. 8
	  	June 10, 2016
		
	 Supplemental Agreement No. 9
	  	February 16, 2017
		
	 Supplemental Agreement No. 10
	  	May 10, 2017
		
	 Supplemental Agreement No. 11
	  	June 18, 2018
		
	 Supplemental Agreement No. 12
	  	, 2019

  

					
	FED-PA-03712	  		  	SA-12
		  	BOEING PROPRIETARY	  	

					
	

	 		  	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207

  
  

FED-PA-03712-LA-1106156
R3 
 Federal Express Corporation 

3610 Hacks Cross 
 Memphis, TN 38125 

 

			
	Subject:	  	Option Aircraft
		
	Reference:	  	Purchase Agreement No. 3712 (Purchase Agreement) between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to Model 767-3S2F
aircraft (Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. In addition,
this Letter Agreement cancels and supersedes FED-PA-03712-LA-1106156R2 in its
entirety. All terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement. 
 1. Right to Purchase Option
Aircraft. 
 Subject to the terms and conditions contained in this Letter Agreement, Customer has the option to purchase thirty-five
(35) additional Model 767-3S2F aircraft as option aircraft (Option Aircraft) and fifteen (15) additional Model 767-3S2F aircraft as Block D
option aircraft (Block D Option Aircraft). Except as set forth herein, and in the Purchase Agreement, the Block D Option Aircraft are considered Option Aircraft. 

2. Delivery. 
 The number of Option
Aircraft and associated delivery months are listed in the Attachment 1 to this Letter Agreement. The number of Block D Option Aircraft and associated delivery months are listed in the Attachment 2 to this Letter Agreement. 

3. Configuration. 
 The configuration for
the Option Aircraft will be the Detail Specification for model 767-3S2F aircraft at the revision level in effect at the time of Supplemental Agreement. Such Detail Specification will be revised to include
(i) changes required to obtain required regulatory certificates and (ii) other changes as mutually agreed upon by Customer and Boeing. 
 4.
Price. 
 4.1 The Airframe Price, Engine Price, Optional Features Prices, and Aircraft Basic Price for each of the Option Aircraft
shall remain in base year [*] and such prices will be subject to escalation in accordance with the Purchase Agreement. 
  

  

			
	FED-PA-03712-LA-1106156R3	  	SA-12
	Option Aircraft	  	Page 1
	BOEING PROPRIETARY

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  
 4.2 Subject to the provisions of
Letter Agreement FED-PA-03712-LA-1106151R2 titled “Special Matters
Concerning [*] – Option Aircraft and Certain Purchase Right Aircraft” the Airframe Price, Engine Price, Optional Features Prices, and Aircraft Basic Price for each of the Option Aircraft will be adjusted for escalation in accordance
with the Purchase Agreement. 
 4.3 The Advance Payment Base Price for each exercised Option Aircraft shall be developed in accordance with
the terms of the Purchase Agreement and determined at the time of Supplemental Agreement. 
 5. Payment. 

5.1 Customer will pay an option deposit to Boeing in the amount of [*] (Option Deposit) for each of the six (6) Option Aircraft added to
the Purchase Agreement pursuant to Supplemental Agreement No. 12 to the Purchase Agreement (SA-12). The parties acknowledge that Customer has previously paid an Option Deposit to Boeing in the amount of
[*] for (i) each of the fifteen (15) Block D Option Aircraft added to the Purchase agreement pursuant to Supplemental Agreement No. 1 to the Purchase Agreement, (ii) each of the twenty-nine (29) Option Aircraft in Attachment
1 prior to the execution of SA-12. If Customer exercises an option, the Option Deposit will be credited against the first advance payment due. [*].  

5.2 At execution of this Letter Agreement, advance payments will be payable as specified in the Purchase Agreement. The remainder of the
Aircraft Price for the Option Aircraft will be paid at the time of delivery. 
 6. Option Exercise. 

6.1 Customer will exercise [*], by giving written notice to Boeing on or before the first business day of the month that is [*] months prior to
the month of delivery [*] (Option Exercise Date). [*]. 

  
  

			
	FED-PA-03712-LA-1106156R3	  	SA-12
	Option Aircraft	  	Page 2
	BOEING PROPRIETARY

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  
 6.2 [*]. 

6.2.1 [*]. 
 6.2.2 [*]. 

  
  

			
	FED-PA-03712-LA-1106156R3	  	SA-12
	Option Aircraft	  	Page 3
	BOEING PROPRIETARY

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  
 6.2.3 [*]. 

6.2.4 [*]. 
 6.3 The parties agree
that Option Aircraft, once exercised, will be added to Table 1-B or Table 1-B1, as applicable, of the Purchase Agreement. 

7. [*]. 
 7.1 [*]. 

7.1.1 [*]. 
 7.1.2 [*]. 

8. [*]. 
 [*]. 

9. [*]. 
 [*]. 

10. Supplemental Agreement. 
 Following
Customer’s exercise of an option the parties will sign a supplemental agreement for the purchase of such Option Aircraft (Supplemental Agreement). The Supplemental Agreement will include the provisions of the Purchase Agreement as
modified to reflect the provisions of this Letter Agreement. 
 11. Confidential Treatment. 

Customer understands that Boeing considers 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 foregoing, 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 thereto, and as required by law. 

  
  

			
	FED-PA-03712-LA-1106156R3	  	SA-12
	Option Aircraft	  	Page 4
	BOEING PROPRIETARY

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  

 Very truly yours, 
  

			
	THE BOEING COMPANY
		
	By	 	 /s/ Laura Ford

		
	Its	 	Attorney-In-Fact
	
	ACCEPTED AND AGREED TO this
		
	Date:	 	June 24, 2019
	
	FEDERAL EXPRESS CORPORATION 
		
	By	 	 /s/ Kevin Burkhart

		
	Its	 	Vice President Aircraft Acquisition

 Attachments 

  

			
	FED-PA-03712-LA-1106156R3	  	SA-12
	Option Aircraft	  	Page 5
	BOEING PROPRIETARY

					
	

	 		  	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207

  
  

FED-PA-03712-LA-1106158
R5 
 Federal Express Corporation 

3610 Hacks Cross 
 Memphis, TN 38125 

 

			
	Subject:	  	Right to Purchase Additional Aircraft
		
	Reference:	  	Purchase Agreement No. 3712 (Purchase Agreement) between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to Model 767-3S2F
aircraft (Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. In addition,
this Letter Agreement cancels and supersedes FED-PA-03712-LA-1106158R4 in its
entirety. All terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement. 
 1. Right to Purchase
Incremental Aircraft. 
 Subject to the terms and conditions contained herein, Customer will have the right to purchase (Purchase
Right) thirty-two (32) additional Boeing Model 767-3S2F aircraft as purchase right aircraft (Purchase Right Aircraft). 

2. Delivery. 
 The Purchase Right Aircraft
delivery positions are [*]. 
 3. Configuration. 

The configuration for the Purchase Right Aircraft will be the Detail Specification for
Model 767-3S2F aircraft at the revision level in effect at the time of the Supplemental Agreement. Such Detail Specification will be revised to include (i) changes required to obtain required
regulatory certificates and (ii) other changes as mutually agreed upon by Boeing and Customer. 
 4. Price. 

4.1 The Airframe Price, Engine Price, Optional Features Prices, and Aircraft Basic Price for the Purchase Right Aircraft shall remain in base
year [*] and such prices will be subject to escalation to the scheduled delivery date of the Purchase Right Aircraft. 

  
  

			
	FED-PA-03712-LA-1106158R5	  	SA-12
	Right to Purchase Additional Aircraft	  	Page 1
	BOEING PROPRIETARY

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 

 
  
 4.2 Subject to the provisions of
Letter Agreement FED-PA-03712-LA-1106151R2 “Special Matters Concerning [*]
– Option Aircraft and Certain Purchase Right Aircraft”, the Airframe Price, Engine Price, Optional Features Prices, and Aircraft Basic Price for each of the Purchase Right Aircraft will be adjusted for escalation in accordance with
the Purchase Agreement. 
 4.3 The Advance Payment Base Price for each exercised Purchase Right Aircraft shall be developed in accordance
with the terms of the Purchase Agreement and determined at the time of Supplemental Agreement. 
 5. Payment. 

At Supplemental Agreement for the Purchase Right Aircraft, advance payments will be payable as specified in the Purchase Agreement. The
remainder of the Aircraft Price for the Purchase Right Aircraft will be paid at the time of delivery. 
 6. Notice of Exercise and Payment of Deposit.

 6.1 Customer may exercise a Purchase Right by giving written notice (Notice of Exercise) to Boeing. All Purchase Right aircraft
must be exercised for delivery no later than [*]. Such Notice of Exercise shall be accompanied by payment, by electronic transfer to the account specified below, in accordance with the Purchase Agreement. Such amount will be the initial advance
payment due at execution of the Supplemental Agreement. 
  

	
	 [*]

 6.2 The parties agree that Purchase Right Aircraft, once exercised, will be added to Table 1-C of the Purchase Agreement. 
 7. Supplemental Agreement. 

Following Customer’s exercise of a Purchase Right in accordance with the terms and conditions stated herein [*], the parties will sign a
supplemental agreement for the purchase of such Purchase Right Aircraft (Supplemental Agreement) within thirty (30) calendar days of such exercise (Purchase Right Exercise). The Supplemental Agreement will include the provisions
then contained in the Purchase Agreement as modified to reflect the provisions of this Letter Agreement and any additional mutually agreed terms and conditions. 

  
  

			
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	BOEING PROPRIETARY

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  
 8. [*]. 

[*]. 
 9. General Expiration of Rights.

 Each Purchase Right shall expire at the time of execution of the Supplemental Agreement for the applicable Purchase Right Aircraft, or, if
no such Supplemental Agreement is executed, on [*]. 
 10. Confidential Treatment. 

Customer understands that Boeing considers 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 foregoing, 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 thereto, and as required by law. 

  
  

			
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	BOEING PROPRIETARY

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  

 Very truly yours, 
  

			
	THE BOEING COMPANY
		
	By	 	 /s/ Laura Ford

		
	Its	 	Attorney-In-Fact
	
	ACCEPTED AND AGREED TO this
		
	Date:	 	June 24, 2019
	
	FEDERAL EXPRESS CORPORATION 
		
	By	 	 /s/ Kevin Burkhart

		
	Its	 	Vice President Aircraft Acquisition

  

			
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	BOEING PROPRIETARY

							
	

	  		  		  	 The Boeing Company
 P.O. Box 3707

Seattle, WA 98124-2207

  
  

FED-PA-03712-LA-1106614
R4 
 Federal Express Corporation 

3610 Hacks Cross Road 
 Memphis, TN 38125 

 

			
	Subject:	  	Special Matters for Purchase Right Aircraft
		
	Reference:	  	Purchase Agreement No. PA-3712 (Purchase Agreement) between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to Model 767-3S2F aircraft (Aircraft)

 This letter agreement (Letter Agreement) cancels and supersedes Letter Agreement FED-PA-03712-LA-1106614R3 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 credit memoranda provided for in this Letter Agreement will be applicable to exercised Purchase Right Aircraft only (Exercised Purchase Right Aircraft), as
described in letter agreement FED-PA-03712-LA-1106158R5, Right to Purchase
Additional Aircraft. 
 1. Credit Memoranda. 

1.1 [*]. 
 1.2 [*]. 

1.3 [*]. 
 1.4 [*]. 

1.5 [*]. 
 2. Escalation of Credit
Memoranda. 
 Unless otherwise noted, the amounts of the Credit Memoranda stated in Paragraphs 1.1 through 1.5 are in [*] base year
dollars and will be escalated to the scheduled month of the respective Exercised Purchase Right Aircraft delivery pursuant to the Airframe Escalation formula set forth in the Purchase Agreement applicable to the Exercised Purchase Right Aircraft.
The Credit Memoranda may, at the election of Customer, be [*]. 
 3. [*]. 

  
  

			
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	BOEING PROPRIETARY

  

	*	 Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of
Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed. 

 

 
  

 4. 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 Exercised Purchase Right Aircraft at time of delivery and becoming the operator of the Exercised Purchase Right Aircraft. This Letter Agreement cannot be assigned, in whole or in part,
without the prior written consent of Boeing, which will not be unreasonably withheld. 
 5. Confidentiality 

Customer understands that Boeing considers 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. 

Very truly yours, 
  

			
	THE BOEING COMPANY
		
	By	 	 /s/ Laura Ford

		
	Its	 	Attorney-In-Fact
	
	ACCEPTED AND AGREED TO this
		
	Date:	 	June 24, 2019
	
	FEDERAL EXPRESS CORPORATION
		
	By	 	 /s/ Kevin Burkhart

		
	Its	 	Vice President

  

			
	FED-PA-03712-LA-1106614R4	  	SA-12
	Special Matters for Purchase Right Aircraft	  	Page 2
	 BOEING PROPRIETARY
  

Omitted Attachments
  

Certain attachments to this exhibit regarding delivery and pricing of certain B767F 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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