Document:

al_Ex10_2

		
			EXHIBIT 10.2
		

		
			 
		

		
			Confidential Treatment
		

		
			Requested Pursuant to Rule 24b-2
		

		
			AMENDMENT No9
		

		
			 
		

		
			 
		

		
			TO THE
		

		
			 
		

		
			 
		

		
			A350 FAMILY PURCHASE AGREEMENT
		

		
			 
		

		
			 
		

		
			BETWEEN
		

		
			 
		

		
			 
		

		
			AIRBUS S.A.S.
		

		
			 
		

		
			as Seller
		

		
			 
		

		
			 
		

		
			and
		

		
			 
		

		
			 
		

		
			AIR LEASE CORPORATION
		

		
			 
		

		
			As Buyer
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

			

					

						Amendment No9 to the ALC A350XWB Family Purchase Agreement

					

					

						 

				
	

					

						Ref. CLC- CT1710042

					

					

						Page 1/6

				

		

			 

		

 

		

		
			AMENDMENT No9  TO THE
		

		
			A350 FAMILY PURCHASE AGREEMENT
		

		
			 
		

		
			This amendment No 9  (the “Amendment No9”)  dated 1st June 2018 is made
		

		
			 
		

		
			BETWEEN:
		

		
			 
		

		
			AIRBUS S.A.S., a French société par actions simplifiée, with its registered office at 2, rond-point Emile Dewoitine, 31700 Blagnac, France, registered with the Commercial and Companies Register of Toulouse under number 383 474 814 (the “Seller”),
		

		
			 
		

		
			and
		

		
			 
		

		
			AIR LEASE CORPORATION, a corporation organised and existing under the laws of the State of Delaware, U.S.A., having its principal place of business at 2000 Avenue of the Stars, Suite 1000N, Los Angeles, California 90067, U.S.A. (the “Buyer”).
		

		
			 
		

		
			The Buyer and Seller together are referred to as the “Parties”.
		

		
			 
		

		
			WHEREAS:
		

		
			 
		

		
			A.   The Buyer and the Seller have signed a purchase agreement with reference CLC-CT1103521 on the 01 February 2013 for the manufacture and sale by the Seller and purchase by the Buyer of twenty-five  (25)  firm A350 Family aircraft hereinafter together with its Exhibits and Letter Agreements referred to as the “Purchase Agreement”.
		

		
			 
		

		
			B.   On 03 March 2015,  the Buyer and the Seller entered into an Amendment No1  to the Purchase Agreement to modify the terms and conditions with respect to certain A350XWB Family Aircraft.
		

		
			 
		

		
			C.   On 03 March 2015, the Buyer and the Seller entered into an Amendment No2 to the Purchase Agreement in order to, among other things, provide for the manufacture and sale by the Seller and purchase by the Buyer of one (1) incremental A350-900 Aircraft.
		

		
			 
		

		
			D.   On 08 September 2015, the Buyer and the Seller entered into an Amendment No3 to the Purchase Agreement for (i) the manufacture and sale by the Seller and purchase by the Buyer of two (2) incremental A350-900 Aircraft [*].
		

		
			 
		

		
			E.   On 14 April 2016, the Buyer and the Seller entered into an Amendment No4 to the Purchase Agreement in order to (i) provide the terms by which the Seller shall manufacture and sell and the Buyer shall purchase one (1) incremental A350-900 Aircraft, and (ii) [*].
		

		
			 
		

		
			F.   On 25 May 2016,  the Buyer and the Seller entered into an Amendment No5 to the Purchase Agreement [*].
		

		
			 
		

		
			G.   On 18 July 2016, the Buyer and the Seller entered into an Amendment  No6 to the Purchase Agreement in order to, among other things, (i) address specifications issues for both A350-900 Aircraft and A350-1000 Aircraft, (ii) [*] and (iii) [*].
		

		
			 
		

		
			H.   On 31 July 2017, the Buyer and the Seller entered into an Amendment No7 to the Purchase Agreement in order to [*].
		

		
			 
		

		
			I.    On 27 December 2017, the Buyer and the Seller entered into an Amendment No8 to the Purchase Agreement in order to [*].
		

		
			 
		

		

		
			* Confidential material omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.
		

		
			
		

		
			

		 

		

			 

		

			

					

						Amendment No9 to the ALC A350XWB Family Purchase Agreement

					

					

						 

				
	

					

						Ref. CLC- CT1710042

					

					

						Page 2/6

				

		

			 

		

 

		

		
			The Purchase Agreement as amended and supplemented pursuant to the foregoing shall be referred to as the “Agreement”.
		

		
			 
		

		
			J.    [*]
		

		
			 
		

		
			K.   In conjunction with paragraph J above, the Buyer and the Seller wish to enter into this Amendment No9  in order to [*].
		

		
			 
		

		
			The terms “herein”, “hereof” and “hereunder” and words of similar import refer to this Amendment No9. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned thereto in the Agreement.
		

		
			 
		

		
			NOW IT IS HEREBY AGREED AS FOLLOWS:
		

		
			 
		

		
			1.          [*]
		

		
			 
		

		
			2.          [*]
		

		
			 
		

		
			3.          [*]
		

		
			 
		

		
			4           EFFECTIVITY
		

		
			 
		

		
			[*]
		

		
			 
		

		
			5           INCONSISTENCY AND CONFIDENTIALITY
		

		
			 
		

		
			5.1        In the event of any inconsistency between the terms and conditions of the Agreement and those of this Amendment No9, the latter shall prevail to the extent of such inconsistency, whereas the part of the Agreement not concerned by such inconsistency shall remain in full force and effect.
		

		
			 
		

		
			5.2        This Amendment No9 reflects the understandings, commitments, agreements, representations and negotiations related to the matters set forth herein whatsoever, oral and written, and may not be varied except by an instrument in writing of even date herewith or subsequent hereto executed by the duly authorised representatives of both Parties.
		

		
			 
		

		
			5.3        This Amendment No9 shall be treated by both Parties as confidential and shall not be released in whole or in part to any third party without the prior consent of the other Party except as may be required by law, or to professional advisors for the implementation hereof.
		

		
			 
		

		
			6           COUNTERPARTS
		

		
			 
		

		
			This Amendment No9 may be executed by the Parties in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument.
		

		
			 
		

		

		
			* Confidential material omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.
		

		
			
		

		
			

		 

		

			 

		

			

					

						Amendment No9 to the ALC A350XWB Family Purchase Agreement

					

					

						 

				
	

					

						Ref. CLC- CT1710042

					

					

						Page 3/6

				

		

			 

		

 

		

		
			7           LAW AND JURISDICTION
		

		
			 
		

		
			This Amendment No9 will be governed by and construed and the performance thereof will be determined in accordance with the laws of the State of New York, without giving effect to its conflicts of laws provisions that would result in the application of the law of any other jurisdiction.
		

		
			 
		

		
			The provisions of Clause 22.6 of the Purchase Agreement shall apply to this Amendment No9 as if the same were set out in full herein, mutatis mutandis.
		

		
			
		

		
			

		 

		

			 

		

			

					

						Amendment No9 to the ALC A350XWB Family Purchase Agreement

					

					

						 

				
	

					

						Ref. CLC- CT1710042

					

					

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			IN WITNESS WHEREOF this Amendment No9  was entered into the day and year first above written.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						For and on behalf of

					
					
						    

					
					
						For and on behalf of

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						AIR LEASE CORPORATION

					
					
						 

					
					
						AIRBUS S.A.S.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						/s/ Grant Levy

					
					
						 

					
					
						/s/ Christophe Mourey

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						Grant Levy

					
					
						 

					
					
						By:

					
					
						Christophe Mourey

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Its:

					
					
						Executive Vice President

					
					
						 

					
					
						Its:

					
					
						Senior Vice President Contracts

				

		
			 
		

		
			
		

		
			

		 

		

			 

		

			

					

						Amendment No9 to the ALC A350XWB Family Purchase Agreement

					

					

						 

				
	

					

						Ref. CLC- CT1710042

					

					

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			APPENDIX 1
		

		
			 
		

			
					
						CAC ID

					
					
						Aircraft
Rank

					
					
						Scheduled Delivery
Month

					
					
						Aircraft
Type

				
	
					
						[*]

					
					
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						2017

					
					
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						2024

					
					
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			* Confidential material omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.
		

		 

		

			 

		

			

					

						Amendment No9 to the ALC A350XWB Family Purchase Agreement

					

					

						 

				
	

					

						Ref. CLC- CT1710042

					

					

						Page 6/6al_Ex10_3

		
			Exhibit 10.3
		

		
			 
		

		
			Non-Employee Director RSU (Deferral)
		

		
			5-9-18
		

		
			 
		

		
			FORM OF
		

		
			AIR LEASE CORPORATION
		

		
			GRANT NOTICE FOR 2014 EQUITY INCENTIVE PLAN
		

		
			NON-EMPLOYEE DIRECTOR RESTRICTED STOCK UNITS (DEFERRAL)
		

		
			FOR GOOD AND VALUABLE CONSIDERATION, Air Lease Corporation (the “Company”) hereby grants to Participant named below the number of restricted stock units specified below (the “Award”), upon the terms and subject to the conditions set forth in this Grant Notice, the Air Lease Corporation 2014 Equity Incentive Plan (the “Plan”), and the Standard Terms and Conditions (the “Standard Terms and Conditions”) adopted under such Plan and provided to Participant, each as amended from time to time.  Each restricted stock unit subject to this Award represents the right to receive one share of the Company’s Class A common stock, par value $0.01 (the “Common Stock”), subject to the conditions set forth in this Grant Notice, the Plan, and the Standard Terms and Conditions.  This Award is granted pursuant to the Plan and is subject to and qualified in its entirety by the Standard Terms and Conditions.
		

			
					
						 

					
					
						 

				
	
					
						Name of Participant:

					
					
						 

				
	
					
						Grant Date:

					
					
						 

				
	
					
						Number of restricted stock units subject to the Award:

					
					
						 

				
	
					
						Vesting Schedule:

					
					
						See Schedule A attached hereto.

				

		
			 
		

		
			By accepting this Grant Notice, Participant acknowledges that he or she has received and read, and agrees that this Award shall be subject to, the terms of this Grant Notice, the Plan and the Standard Terms and Conditions.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						AIR LEASE CORPORATION

					
					
						    

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Participant Signature

				
	
					
						By

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Title:

					
					
						 

					
					
						 

					
					
						Address (please print):

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

			1

		

 

		

		
			SCHEDULE A
		

		
			The Restricted Stock Units will be subject to time vesting conditions, and will vest as follows:
		

			
	
			
				 ·
			

			
	
			
			The Restricted Stock Units will vest in full on the first anniversary of the Grant Date, unless the Participant has a Termination of Service before such date.

			
	
			
				 ·
			

			
	
			
			If Participant has a Termination of Service in connection with Change in Control before the first anniversary of the Grant Date, the Restricted Stock Units will vest in full upon such Termination of Service.

			
	
			
				 ·
			

			
	
			
			If the Participant has a Termination of Service for any reason other than a Change in Control before the first anniversary of the Grant Date, the Restricted Stock Units will vest on a prorated daily basis according to the number of days between the Grant Date and Termination of Service, divided by 365.

		
			
		

		
			

		 

		

			2

		

 

		

		
			AIR LEASE CORPORATION
		

		
			STANDARD TERMS AND CONDITIONS FOR
		

		
			NON-EMPLOYEE DIRECTOR RESTRICTED STOCK UNITS (DEFERRAL)
		

		
			These Standard Terms and Conditions apply to the Award of restricted stock units granted pursuant to the Air Lease Corporation 2014 Equity Incentive Plan (the “Plan”), which are evidenced by a Grant Notice or an action of the Committee or the Board of Directors that specifically refers to these Standard Terms and Conditions.  In addition to these Terms and Conditions, the restricted stock units shall be subject to the terms of the Plan, which are incorporated into these Standard Terms and Conditions by this reference.  Capitalized terms not otherwise defined herein shall have the meaning set forth in the Plan.
		

		
			1.         TERMS OF RESTRICTED STOCK UNITS; VESTING OF RESTRICTED STOCK UNITS
		

		
			(a)        Air Lease Corporation, a Delaware corporation (the “Company”), has granted to the Participant named in the Grant Notice provided to said Participant herewith (the “Grant Notice”) an award of a number of restricted stock units (the “Award” or the “Restricted Stock Units”) specified in the Grant Notice.  Each Restricted Stock Unit represents the right to receive one share of the Company’s Class A common stock, $0.01 par value per share (the “Common Stock”), upon the terms and subject to the conditions set forth in the Grant Notice, these Standard Terms and Conditions and the Plan, each as amended from time to time.  For purposes of these Standard Terms and Conditions and the Grant Notice, any reference to the Company shall include a reference to any Subsidiary.
		

		
			(b)        The Award shall not be vested as of the Grant Date set forth in the Grant Notice and shall be forfeitable unless and until otherwise vested pursuant to the terms of the Grant Notice and these Standard Terms and Conditions.  After the Grant Date, subject to termination or acceleration as provided in these Standard Terms and Conditions and the Plan, the Award shall become vested as described in the Grant Notice with respect to that number of Restricted Stock Units as set forth in Schedule A of the Grant Notice.
		

		
			2.         DIVIDEND EQUIVALENT RIGHTS
		

		
			(a)        Each Restricted Stock Unit granted hereunder is hereby granted in tandem with a corresponding dividend equivalent right.  Such dividend equivalent right shall entitle the Participant to have a hypothetical bookkeeping account (established and maintained for purposes of tracking the Restricted Stock Units and any additional Restricted Stock Units credited to such account in respect of dividend equivalent rights in accordance with this Section 2(a)) (the “Account”) that is credited upon the Company’s payment of dividends to stockholders of outstanding shares of Common Stock if the dividend equivalent right is or
		

		
			
		

		
			

		 

		

			3

		

 

		

		
			was outstanding on the applicable Common Stock record date.  Subject to Section 2(c) hereof, when such dividends are so declared, the following shall occur:
		

		
			(i)         on the date that the Company pays a cash dividend in respect of outstanding shares of Common Stock, the Company shall credit the Participant’s Account with a number of full and fractional Restricted Stock Units equal to the quotient of (A) the total number of Restricted Stock Units credited to the Account that are vested but not yet distributed (including any Restricted Stock Units granted hereunder and any additional Restricted Stock Units credited with respect to dividend equivalent rights), multiplied by the per share dollar amount of such dividend, divided by (B) the Fair Market Value of a share of Common Stock on the date such dividend is paid,
		

		
			(ii)       on the date that the Company pays a Common Stock dividend in respect of outstanding shares of Common Stock, the Company shall credit the Participant’s Account with a number of full and fractional Restricted Stock Units equal to the product of (A) the total number of Restricted Stock Units credited to the Account that are vested but not yet distributed (including any Restricted Stock Units granted hereunder and any additional Restricted Stock Units credited with respect to dividend equivalent rights), multiplied by (B) the number of shares of Common Stock distributed with respect to such dividend per share of Common Stock, or
		

		
			(iii)      on the date that the Company pays any other type of distribution in respect of outstanding shares of Common Stock, the Company shall credit the Participant’s Account in an equitable manner based on the total number of Restricted Stock Units held in the Account, as determined in the sole discretion of the Committee.
		

		
			(b)        To the extent that any additional Restricted Stock Units are credited to the Participant’s Account in respect of the Participant’s dividend equivalent rights, such additional Restricted Stock Units shall be deemed granted and fully vested as of the applicable dividend payment date set forth in Sections 2(a)(i) – 2(a)(iii) hereof and shall also carry corresponding dividend equivalent rights.
		

		
			(c)        Dividend equivalent rights shall remain outstanding from the Grant Date (or later date of grant of such dividend equivalent right in connection with the Company’s payment of a dividend) through the earlier to occur of (i) the termination or forfeiture for any reason of the Restricted Stock Unit to which such dividend equivalent right corresponds, or (ii) the delivery to the Participant of the share of Common Stock underlying the Restricted Stock Unit to which such dividend equivalent right corresponds.  For the avoidance of doubt, if a dividend equivalent right terminates after the applicable Common Stock record date for a Company dividend and prior to the corresponding payment date thereof, the Participant shall still be entitled to payment of the dividend equivalent right amount determined in accordance with this Section 2, if and when the Company pays the underlying dividend; provided, however, that such dividend equivalent right amount shall be made in cash (rather than Restricted Stock Units).
		

		
			(d)        Dividend equivalent rights and any amounts that may become distributable in respect thereof shall be treated separately from the Restricted Stock Units and the rights arising in
		

		
			
		

		
			

		 

		

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			connection therewith for purposes of the designation of time and form of payments required by Section 409A (defined below).
		

		
			3.         SETTLEMENT OF RESTRICTED STOCK UNITS
		

		
			Subject to Section 6(b) hereof, shares of Common Stock underlying the Restricted Stock Units shall, to the extent vested, be delivered to the Participant (or the Participant’s permitted transferee, if applicable) on the thirtieth (30th) day following the earliest to occur of: (i) the date of the Participant’s “separation from service” from the Company or any affiliate within the meaning of Section 409A(a)(2)(A)(i) of the Code (a “Separation from Service”), (ii) the date of the occurrence of a “change of control event” (within the meaning of Code Section 409A) with respect to the Company, [and] (iii) the date of the Participant’s death [ADD THE FOLLOWING IF PARTICIPANT ELECTED A FIXED DATE DISTRIBUTION:][, and (iv) [_______]].  Notwithstanding anything to the contrary contained herein, the exact payment date of any Restricted Stock Units shall be determined by the Company in its sole discretion (and the Participant shall not have a right to designate the time of payment).
		

		
			4.         RIGHTS AS STOCKHOLDER
		

		
			Except as provided in Section 2 with respect to dividend equivalent rights, the Participant shall have no voting rights or the right to receive any dividends with respect to shares of Common Stock underlying Restricted Stock Units unless and until such shares of Common Stock are reflected as issued and outstanding shares on the Company’s stock ledger.
		

		
			5.         RESTRICTIONS ON RESALES OF SHARES
		

		
			The Company may impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales by the Participant or other subsequent transfers by the Participant of any Common Stock issued in respect of vested Restricted Stock Units, including without limitation (a) restrictions under an insider trading policy, (b) restrictions designed to delay and/or coordinate the timing and manner of sales by Participant and other holders and (c) restrictions as to the use of a specified brokerage firm for such resales or other transfers.
		

		
			6.         TAXES
		

		
			(a)        Income Taxes.  The Participant will be responsible to pay all taxes that are imposed on him with respect to the Restricted Stock Units, and the Company will comply with its reporting obligations with respect to the Restricted Stock Units. Under current law, the Company will not have any tax withholding obligations with respect to Restricted Stock Units granted to non-employee Directors. If any tax withholding obligations become applicable with respect to these Restricted Stock Units, subject to compliance with all applicable laws, upon any delivery of shares of Common Stock in respect of the Restricted Stock Units, the Company shall automatically reduce the number of shares to be delivered by (or otherwise reacquire) the appropriate number of whole shares, valued at their then Fair Market Value, to satisfy any applicable withholding obligations of the Company with
		

		
			
		

		
			

		 

		

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			respect to such delivery of shares at any applicable withholding rates.  In the event that the Company cannot legally satisfy such withholding obligations by such reduction of shares, or in the event of a cash payment or any other withholding event in respect of the Restricted Stock Units, the Company shall be entitled to require a cash payment by or on behalf of the Participant and/or to deduct from other fees payable to the Participant any sums required by federal, state or local tax law to be withheld with respect to such distribution or payment.
		

		
			(b)        Section 409A.
		

		
			(i)         To the extent applicable, these Standard Terms and Conditions shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder (“Section 409A”), including without limitation any such regulations or other guidance that may be issued after the Grant Date.  Notwithstanding any other provision of the Plan, the Grant Notice or these Standard Terms and Conditions, if at any time the Committee determines that the Restricted Stock Units (or any portion thereof) may be subject to Section 409A, the Committee shall have the right in its sole discretion (without any obligation to do so or to indemnify the Participant or any other person for failure to do so) to adopt such amendments to the Plan, the Grant Notice or these Standard Terms and Conditions, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Committee determines are necessary or appropriate for the Restricted Stock Units to be exempt from the application of Section 409A or to comply with the requirements of Section 409A.
		

		
			(ii)       Notwithstanding anything to the contrary in the Grant Notice or these Standard Terms and Conditions, no amounts shall be paid to the Participant under the Grant Notice and these Standard Terms and Conditions during the six (6)-month period following the Participant’s Separation from Service to the extent that the Committee determines that the Participant is a “specified employee” (within the meaning of Section 409A) at the time of such Separation from Service and that paying such amounts at the time or times indicated in these Standard Terms and Conditions would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code.  If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of such six (6)-month period (or such earlier date upon which such amount can be paid under Section 409A without being subject to such additional taxes), the Company shall pay to the Participant in a lump-sum all amounts that would have otherwise been payable to the Participant during such six (6)-month period under the Grant Notice and these Standard Terms and Conditions.
		

		
			7.         NON-TRANSFERABILITY OF AWARD
		

		
			The Participant represents and warrants that the Restricted Stock Units are being acquired by the Participant solely for the Participant’s own account for investment and not with a view to or for sale in connection with any distribution thereof.  The Participant further understands, acknowledges and agrees that, except as otherwise provided in the Plan or as permitted by the Committee, the Restricted Stock Units may not be sold, assigned, transferred, pledged or otherwise directly or indirectly encumbered or disposed of.
		

		
			
		

		
			

		 

		

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			8.         OTHER AGREEMENTS SUPERSEDED
		

		
			The Grant Notice, these Standard Terms and Conditions and the Plan constitute the entire understanding between the Participant and the Company regarding the Restricted Stock Units.  Any prior agreements, commitments or negotiations concerning the Restricted Stock Units are superseded.
		

		
			9.         LIMITATION OF INTEREST IN SHARES SUBJECT TO RESTRICTED STOCK UNITS
		

		
			Neither the Participant (individually or as a member of a group) nor any beneficiary or other person claiming under or through the Participant shall have any right, title, interest, or privilege in or to any shares of Common Stock allocated or reserved for the purpose of the Plan or subject to the Grant Notice or these Standard Terms and Conditions except as to such shares of Common Stock, if any, as shall have been issued to such person upon vesting of the Restricted Stock Units.  Nothing in the Plan, in the Grant Notice, these Standard Terms and Conditions or any other instrument executed pursuant to the Plan shall confer upon the Participant any right to continue in the Company’s service nor limit in any way the Company’s right to terminate the Participant’s service at any time for any reason.
		

		
			10.       GENERAL
		

		
			In the event that any provision of these Standard Terms and Conditions is declared to be illegal, invalid or otherwise unenforceable by a court of competent jurisdiction, such provision shall be reformed, if possible, to the extent necessary to render it legal, valid and enforceable, or otherwise deleted, and the remainder of these Standard Terms and Conditions shall not be affected except to the extent necessary to reform or delete such illegal, invalid or unenforceable provision.
		

		
			The headings preceding the text of the sections hereof are inserted solely for convenience of reference, and shall not constitute a part of these Standard Terms and Conditions, nor shall they affect its meaning, construction or effect.
		

		
			These Standard Terms and Conditions shall inure to the benefit of and be binding upon the parties hereto and their respective permitted heirs, beneficiaries, successors and assigns.
		

		
			These Standard Terms and Conditions shall be construed in accordance with and governed by the laws of the State of Delaware, without regard to principles of conflicts of law.
		

		
			In the event of any conflict between the Grant Notice, these Standard Terms and Conditions and the Plan, the Grant Notice and these Standard Terms and Conditions shall control.  In the event of any conflict between the Grant Notice and these Standard Terms and Conditions, the Grant Notice shall control.
		

		
			All questions arising under the Plan or under these Standard Terms and Conditions shall be decided by the Committee in its total and absolute discretion.
		

		
			
		

		
			

		 

		

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			11.       ELECTRONIC DELIVERY
		

		
			By executing the Grant Notice, the Participant hereby consents to the delivery of information (including, without limitation, information required to be delivered to the Participant pursuant to applicable securities laws) regarding the Company and the Subsidiaries, the Plan, and the Restricted Stock Units via Company web site or other electronic delivery.
		

		 

		

			8

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