Document:

EX-10.12

 Exhibit 10.12 

 
 

 
  
  

TWELFTH AMENDMENT 
 to
the 
 COMPOSITE LEASE AGREEMENT 

By and Between 

MEMPHIS-SHELBY COUNTY AIRPORT AUTHORITY 

and 
 FEDERAL EXPRESS
CORPORATION 
 Effective as of April 1, 2019 
  

 
  
  

 

 
  

 TWELFTH AMENDMENT 

TO THE COMPOSITE LEASE AGREEMENT 

This TWELFTH Amendment is made and entered into as of the 9th day of April 2019,
by and between MEMPHIS-SHELBY COUNTY AIRPORT AUTHORITY (herein referred to as “Authority”), a body politic and corporate, organized and existing under the laws of the State of Tennessee, and FEDERAL EXPRESS CORPORATION (herein referred to
as “Tenant”), a corporation duly organized and existing under the laws of the State of Delaware. 
 W I T N E S S E T H:

 WHEREAS Authority and Tenant executed a “Composite Lease Agreement”, effective January 1, 2007 which was modified by
First Amendment effective September 1, 2008; a Second Amendment effective June 1, 2009; a Third Amendment effective July 1, 2009; a Fourth Amendment effective 15, 2011; a Fifth Amendment effective January 1, 2013; a Sixth
Amendment effective July 1, 2014; a Seventh Amendment effective April 1, 2016; an Eighth Amendment effective April 1, 2017; a Ninth Amendment effective September 1, 2017; a Tenth Amendment effective May 1, 2018; an Eleventh
Amendment effective December 1, 2018; collectively referred to herein as the “Composite Lease Agreement”; and, 
 WHEREAS, a
schedule identifying each parcel of real property the Authority leases to Tenant is attached to the Composite Lease Agreement as EXHIBIT “A”, and the schedule states a portion of the Term (identified in the Composite Lease
Agreement) during which the lease of each parcel will be in effect, and the rent that Tenant is subject to pay Authority for each parcel; and, 

WHEREAS, the parties wish to amend the Composite Lease Agreement to add a total of 18,276 square feet of unimproved land owned by Authority to
be used for glycol tank storage, more particularly identified as Parcel 35 and named in EXHIBIT “B”, which is attached hereto and incorporated by reference, thereby creating an annual increase of $4,145.00 for the rental cost
of this unimproved land (Parcel 35), effective October 1, 2019. 

  

			
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 NOW, THEREFORE, for and in consideration of the promises, covenants and agreements
hereinafter contained to be kept and performed by the parties hereto and upon the provisions and conditions hereinafter set forth, Authority and Tenant do hereby covenant and agree as follows: 

SECTION 1.    Definitions.  Except as otherwise provided herein, and unless the context
shall clearly require otherwise, all words and terms used in this TWELFTH Amendment shall have the respective meanings give to them in the Composite Lease Agreement for all purposes of this TWELFTH Amendment. 

SECTION 2.    Modification of Composite Lease Agreement and Applicable Rent. 

The parties amend the Composite Lease Agreement to reflect the addition of Parcel 35. As of the Effective Date, the parties
incorporate the attached survey and legal description of Parcel 35 to be part of EXHIBIT “B” to the Composite Lease Agreement, and the parties substitute the revised itemized Composite Spreadsheet effective
April 1, 2019, attached hereto and incorporated herein as EXHIBIT “A” to this Amendment, for the schedule included as part of EXHIBIT “A” to the Composite Lease Agreement. The
substitution of the attached EXHIBIT “A”, the revised itemized Composite Spreadsheet effective April 1, 2019, will accomplish the following: 

(a)    Contingent upon receipt of all necessary approvals for installation of glycol tank storage (including FAA) effective
October 1, 2019, Tenant’s annual rent will be increased by $4,145.00, achieved by multiplying the area of Parcel 35 by $0.2268 per square foot, as follows: 
  

							
	 Location    
	  	     Unimproved
Rate    
	  	     Sq.
Ft.    
	  	     Annual
Rent    

	Glycol Tank Storage	  	$0.2268	  	18,276	  	$ 4,145.00

 (b)     The rent, as adjusted in accordance with the foregoing, will continue to be
subject to adjustment in accordance with the terms of Section 2.03(a)(i) of the Composite Lease Agreement. 

  

			
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 SECTION 3.    Improvements by Tenant. 

 

	 	(a)	 Effective April 1, 2019, Authority granted to Tenant all necessary or appropriate rights of reasonable
access, ingress and egress to and from Parcel 35, for Tenant, its servants, agents, employees or independent contractors, to make such alterations and improvements on Parcel 35 as to make it suitable for Tenant’s use, hereinafter
described as “Tenant’s Work”, and the right to do all such other things as may be incidental to Tenant’s Work. 

  

	 	(b)	 Tenant shall obtain, at Tenant’s sole expense, all certificates and approvals relating to Tenant’s
Work. As part of Tenant’s Work on Parcel 35, Tenant shall make, at least, all improvements on Parcel 35, as shown on EXHIBIT “B”, at no cost to Authority. 

 

	 	(c)	 The terms and conditions of the Composite Lease Agreement, including, without limitation, the commercial
liability insurance provisions, shall apply to and be effective during such period of occupancy or access to the premises by Tenant, except for Tenant’s obligation to pay rent as provided in Section 2 (a) above. 

 

	 	(d)	 Tenant’s obligation to provide for builder’s risk coverage covering the premises and any and all
improvements on Parcel 35 commenced on April 1, 2019 and shall be required to remain effective until all improvements are complete. 

  

	 	(e)	 As part of its work on Parcel 35, Tenant shall (i) remain in compliance with all applicable
Environmental Laws and (ii) remain in compliance with the provisions of Section 8.02 of the Composite Lease Agreement. 

SECTION 4.    Remainder of Composite Lease in Effect.  All other terms, provisions,
conditions, covenants and agreements of the Composite Lease Agreement shall continue in full force and effect. 
 SECTION
5.    Effective Date of this TWELFTH Amendment.  This TWELFTH Amendment shall become effective as of April 1, 2019.  

EXHIBIT “A” and EXHIBIT “B”, attached hereto, shall be incorporated herein by reference. 

  

			
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 IN WITNESS WHEREOF, the parties have caused their duly authorized representatives to execute
this TWELFTH Amendment to the Composite Lease Agreement. 
  

									
	MEMPHIS-SHELBY COUNTY AIRPORT AUTHORITY	 		 	FEDERAL EXPRESS CORPORATION
					
	By: 	 	/s/ Scott A. Brockman	 		 	By:	 	/s/ Wiley Johnson, Jr.
		 	 Scott A. Brockman, A.A.E. President
 and Chief
Executive Officer
	 		 	Title: 	 	Managing Director
					
		 		 		 	Date:	 	April 9, 2019

 Approved as to Content: 
  

			
	By:	 	/s/ Forrest B. Artz
	 Forrest B. Artz
 Vice President of
Finance and Administration/CFO

 Approved as to Form and Legality: 
  

	
	/s/ Janet Shipman
	 Janet Shipman
 Associate Airport
Counsel

 Reviewed and Approved: 
  

	
	/s/ Angela Washington
	Director of Properties

  

			
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 Omitted Exhibits 

Exhibit A and Exhibit B to this exhibit, which are described under “Witnesseth” and in Sections 2 and 3 above, 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
Exhibit A and Exhibit B to the Securities and Exchange Commission or its staff upon request. 

  

			
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P a g e  |  6EX-10.53

 Exhibit 10.53 

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. 
  

			
	

	  	 The Boeing Company     

P.O. Box 3707                

Seattle, WA 98124-2207

 FED-PA-3712-LA-1903482 
 Federal Express Corporation 

3131 Democrat Road 
 Memphis, TN 38118 

 

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

		
	Subject:	  	[*]
		
	Reference:	  	Purchase Agreement 3712 between The Boeing Company (Boeing) and Federal Express Corporation (Customer) dated December 14, 2011 relating to Model 767-3S2F Aircraft (767
Purchase Agreement)

 This letter agreement (Letter Agreement) amends and supplements the 767 Purchase Agreement. All terms used but not
defined in this Letter Agreement shall have the same meaning as in the referenced 767 Purchase Agreement. 
 1.    Background.

 1.1    [*] 

1.2    [*] 

2.    Agreement. 

[*] 

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. 
  

			
	 FED-PA-3712-LA-1903482
 [*]
	  	 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. 

 

 
  
 Very truly yours, 

 

			
	THE BOEING COMPANY
		
	By	 	 /s/ Laura Ford

		
	Its	 	
Attorney-In-Fact

 ACCEPTED AND AGREED TO this 

Date: May
10                         , 2019 

 

			
	FEDERAL EXPRESS CORPORATION
		
	By	 	 /s/ Kevin Burkhart

		
	Its	 	 Vice President

  

			
	 FED-PA-3712-LA-1903492
 [*]
	  	 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.

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