Document:

EX-10.6

 Exhibit 10.6 

CONFIDENTIAL TREATMENT REQUESTED – REDACTED COPY 

Confidential Treatment has been requested for portions of this Exhibit. Confidential portions of this Exhibit are designated by [*****]. A complete version
of this Exhibit has been filed separately with the Securities and Exchange Commission. 
 OnPointsm Solutions 
 RATE PER ENGINE FLIGHT HOUR 

ENGINE SERVICES AGREEMENT 

BETWEEN 
 GE Engine
Services, Inc. and GE Celma Ltda. 
 And 

Azul Linhas Aereas Brasileiras S.A. 

Agreement Number: 1-1373258434 

Dated: September 25 2009 

This proposed Agreement will remain open until September 25, 2009 and will expire if not signed by all Parties on or before that date.

 PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, Inc. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express
written consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information
contained in this document. Unauthorized export or re-export is prohibited. 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
  

					
	TABLE OF CONTENTS	  			
		
	 TABLE OF CONTENTS
	  	 	2	  
	 ARTICLE 1 – DEFINITIONS
	  	 	3	  
	 ARTICLE 2 – TERM/ENGINES/SERVICES
	  	 	3	  
	 ARTICLE 3 – RATE PER EFH SERVICES
	  	 	3	  
	 ARTICLE 4 – SUPPLEMENTAL WORK
	  	 	6	  
	 ARTICLE 5 – PRICING
	  	 	7	  
	 ARTICLE 6 – INVOICING AND PAYMENT
	  	 	8	  
	 ARTICLE 7 – FLEET MANAGEMENT
	  	 	10	  
	 ARTICLE 8 – WARRANTY
	  	 	12	  
	 ARTICLE 9 – DELIVERY/REDELIVERY
	  	 	13	  
	 ARTICLE 10 – ADDITION OF ENGINES
	  	 	14	  
	 ARTICLE 11 – REMOVAL OF ENGINES
	  	 	14	  
	 ARTICLE 12 – TERMINATION
	  	 	15	  
	 ARTICLE 13 – REPRESENTATIONS
	  	 	16	  
	 ARTICLE 14 – GENERAL TERMS AND CONDITIONS
	  	 	17	  
	 EXHIBIT A: DEFINITIONS
	  	 	18	  
	 EXHIBIT B: ENGINES COVERED
	  	 	20	  
	 EXHIBIT C: RATE ADJUSTMENT
	  	 	22	  
	 EXHIBIT D: PRICE ADJUSTMENT MATRIX
	  	 	23	  
	 EXHIBIT E: SUPPLEMENTAL WORK PRICING
	  	 	24	  
	 EXHIBIT F: SUPPLEMENTAL WORK PRICING – ANNUAL ADJUSTMENT
	  	 	25	  
	 EXHIBIT G: SUPPLEMENTAL WORK PRICING – FIXED PRICE LABOR SCHEDULE-
	  	 	26	  
	 EXHIBIT H: SUPPLEMENTAL ON-WING SUPPORT
	  	 	26	  
	 EXHIBIT H: SUPPLEMENTAL ON-WING SUPPORT
	  	 	27	  
	 EXHIBIT I: LINE REPLACEABLE UNITS
	  	 	29	  
	 EXHIBIT J: GENERAL TERMS AND CONDITIONS
	  	 	30	  
	 EXHIBIT K: WARRANTY AND GUARANTY ASSIGNMENT LETTER
	  	 	35	  
	 EXHIBIT L: [*****] DISTRIBUTION SCHEDULE
	  	 	36	  
	 EXHIBIT M: OPTIONAL AIRCRAFT
	  	 	37	  
	 EXHIBIT N: LEASED AIRCRAFT
	  	 	39	  

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 OnPointsm
Solutions Engine Services Agreement 
 THIS ENGINE SERVICES AGREEMENT is made and is effective as of September 25, 2009 (the “Effective
Date”) by and between Azul Linhas Aereas Brasileiras S.A., having its principal place of business at Alameda Surubiju n° 2010, Alphaville Industrial, Barueri - SP, CEP 06455-040, Brazil 0 Brazil (“Customer”) and GE Engine
Services, Inc., having its principal place of business at One Neumann Way, Cincinnati, Ohio 45215 and GE Celma Ltda. (“GE Celma”), having its principal place of business at Rua Alice Herve 356, Petropolis, 25669-900, Brazil (jointly
referred to as “GE”) (either a “Party” or collectively, the “Parties”). 
 ARTICLE 1 – DEFINITIONS

 Capitalized terms used in this Agreement and not otherwise defined have the meaning set forth in Exhibit A. 

ARTICLE 2 – TERM/ENGINES/SERVICES 

2.1 Term. Each Party’s obligation to perform will commence upon September 25 2009 (the “Commencement Date”) and such obligation
will continue, unless sooner terminated, for a period of [*****] per engine for the current leased fleet listed in Exhibit B and [*****] per engine for the owned fleet. from date of Engine delivery to customer, or [*****], which ever occurs first
(the “Term”) . Parties may renew or extend this Agreement upon mutual agreement prior to the end of the Initial Term. 
 2.2 Engines. The
Engines covered by this Agreement are set forth on Exhibit B. During the term of this Agreement. GE shall [*****] of both Rate Per EFH and Supplemental Work Services for the Engines. 

2.3 Services Provided. GE will provide Services to restore Engines to Serviceable condition in accordance with the Repair Specification, the Workscope
and the terms of this Agreement. 
 2.4 Eligibility. New Engines are eligible for Rate Per EFH Services and Supplemental Work Services on the date of
their delivery. Any Used Engines covered under this Agreement are eligible for Supplemental Services as of the Commencement Date and are eligible for Rate Per EFH Services either as of the date of the completion of a Qualifying Shop Visit
(“QSV”) or, if GE has determined that a QSV is not necessary. as of the Commencement Date. 
 ARTICLE 3 – RATE PER EFH
SERVICES 
 3.1 Covered Services. GE will provide the following Services (the “Rate Per EFH Services”) at a shop visit on a Rate Per
EFH basis: 
  

	 	a.	Provide, either at a Repair Station. an approved subcontractor, or such other location as agreed by Customer and GE, all labor, materials and parts necessary to return an Engine to a Serviceable condition, in accordance
with the Workscope and minimum build specifications. including Engine test and boroscope when required. 

  

	 	b.	Remove. inspect and reinstall, if Serviceable, [*****]. 

  

	 	c.	Recommend. as appropriate, the replacement of a Delivered Engine with a Serviceable replacement Engine of like configuration and condition. If Customer agrees to such replacement, title to the removed Engine will vest
with GE and title to the replacement Engine will vest with Customer, provided the terms of such replacement comply with any aircraft lease applicable to such replaced Engine. Customer will make its best commercial efforts to facilitate such title
passage. 

  

	 	d.	Inspect, repair and replace [*****]. 

  

	 	e.	Repair GE [*****] identified in Exhibit I received with an Engine for a Rate Per EFH Shop Visit and which were installed on the Engine when it was removed from the aircraft for Services, as evidenced by records provided
in accordance with Article 9. 

  

	 	f.	Comply with Airworthiness Directives (“AD”) that are published as of the Commencement Date and ADs and [*****] that are required to be incorporated during the term of this Agreement. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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 CONFIDENTIAL TREATMENT REQUESTED 

 
  

	 	g.	Provide all labor, materials and parts necessary to return Engine to a Serviceable condition when an Engine or module requires Services for, or as a result of, [*****], to a maximum amount for each Engine of the [*****]
of any insurance deductible covering such [*****] event or [*****]. 

  

	 	h.	Services necessary on an Engine when [*****] is determined to be the sole cause of an event. 

  

	 	i.	If an Engine is determined by GE to be BER, then such Engine shall either: 

  

	 	(i)	be removed from the Agreement at the request of Customer pursuant to the terms of Article 11 hereof or 

  

	 	(ii)	be replaced by GE with an engine of equivalent age and/or with equivalent hours and cycles to the BER engine. In the later case, if the BER Engine was eligible to receive Services under Article 3 except for meeting the
definition of BER condition, then the replacement engine shall be provided [*****] by GE; if the BER Engine was not eligible to receive Services under Article 3 hereof, then Customer shall pay the fair market value of such replacement engine.

  

	 	j.	GE will provide inventory control for all Customer owned parts and material secured in a segregated area within the DRS facility. GE will provide inventory reports including usage and activity reports in an electronic
format on a reasonable mutually agreed basis describing the contents and status of the Customer owned parts inventory. 

 3.2 Rate Per EFH
Shop Visit. Engines that require maintenance or repair that cannot be performed on-wing (as determined by Customer and GE’s Customer Program Manager or delegate), will be eligible for a shop visit at which GE will provide Rate Per EFH
Services (a “ Rate Per EFH Shop Visit”) if the shop visit is necessary to: 
  

	 	a.	After troubleshooting by Customer in accordance with the Aircraft Maintenance Manual (AMM) and/or Fault Isolation Manual (FIM), correct a known deficiency or performance deterioration which has created an Unserviceable
condition; 

  

	 	b.	Comply with an AD if such AD mandates compliance prior to the next scheduled shop visit per the Removal Schedule; or 

  

	 	c.	Install [*****] (unless [*****] at the last shop visit prior to the Commencement Date did not conform to the minimum build requirement in the Repair Specification). 

 

	 	d.	On wing and onsite repairs to avoid engine removals or engine shop visit are [*****] in the Rate per EFH as further outlined in [*****]. 

 

	 	e.	Customer will implement an engine stagger program [*****] and time on wing due to several airplanes/engines with the same (or close to) time since new. All engines effected in a Stagger program are [*****] in the Rate
Per EFH Shop Visit 

 3.3 Transportation. GE [*****] of roundtrip transportation to and from [*****] to the Designated Repair Station
for each Rate Per EFH Shop Visit or Supplemental Work Services. 
 3.3.1 Delivery and Redelivery - From the Commencement Date through
December 31, 2012, Delivery and Redelivery shall be as follows: 
  

	 	a.	Delivery. The Engine shall be Delivered by the Customer together with all applicable records and required data [*****] International Chamber of Commerce, [*****], at the [*****], whereby Customer fulfills the
obligations of seller and GE fulfills the obligations of buyer. Delivery shall occur at [*****] when the Engine is loaded for transport for delivery to GE’s Designated Repair Station. All transportation costs, including licenses, and risk of
loss from the moment of [*****] at [*****] throughout the transportation of the Engine to GE’s Designates Repair Station will be [*****] Until Redelivery, GE shall keep an insurance coverage against loss of or damage to the Engines and other
components while Engines are in its care (or its contracted transportation agent’s), custody and control in an amount equal to or greater than the full replacement cost of such Engines. 

 

	 	b.	 Redelivery. After completion of Services. GE shall Redeliver the Engine to the Customer, [*****], International Chamber of Commerce. [*****], at
[*****] or to a different location to be mutually agreed by the Parties 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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 CONFIDENTIAL TREATMENT REQUESTED 

 

	 	
provided that [*****] will not be greater compared to [*****] and if advised by Customer, in writing, by email with at least (7) days prior to scheduled shipment date; whereby Customer
fulfills the obligations of buyer and GE fulfills the obligations of seller.=. 

 3.3.2 Alternate Delivery and Redelivery – As
soon as practicable thereafter GE Celma becomes the Designated Repair Station in accordance with the terms of Section 7.5 hereof, but in no event later than December 31, 2012, Delivery and Redelivery shall be as follows: 

 

	 	a.	Delivery. The Engine shall be Delivered by Customer together with all applicable records and required data Delivered [*****] International Chamber of Commerce, lncoterms 2000, being made available at [*****] whereby
Customer fulfills the obligations of seller and GE fulfills the obligations of buyer. 

  

	 	b.	Redelivery. After completion of Services, GE shall Redeliver the Engine with legally required certifications, [*****], International Chamber of Commerce, [*****], at [*****], whereby Customer fulfills the obligations of
buyer and GE fulfills the obligations of seller. 

 In the event that an Engine (s) need to be serviced at GE Strother
after December 31, 2012, the Delivery Terms of 3.3.1 apply; provided that Customer’s financial obligation will not be greater of Delivery terms set forth in Section 3.3.2 hereof. 

For the avoidance of any doubt, after December 31, 2012, all transportation costs, including transportation taxes, import and export fees. licenses, fees
and risk of loss from [*****] until the Engine is returned [*****] to Customer will be [*****]. GE shall keep an insurance coverage against loss of or damage to the Engines and other components while Engines are in its care (or its contracted
transportation agent’s), custody and control in an amount equal to or greater than the full replacement cost of such Engines. 
 3.3.3 Completion of
Services. After completion of Services, GE will Redeliver the Engine to Customer. In the event Redelivery of an Engine cannot occur due to any act or failure to act of Customer, GE may place such Engine into storage. In such event, GE will
notify Customer of such storage, GE’s Redelivery obligations will be deemed fulfilled, all risk of loss or damage to the Equipment will thereupon pass to Customer, and any amounts payable to GE upon Redelivery will be payable upon presentation
of GE’s invoice. Customer will reimburse GE for all expenses incurred by GE. such as, but not limited to, preparation for and placement into storage, handling, inspections, preservation and insurance of the Equipment. Upon payment of all
amounts due hereunder, GE will assist and cooperate with Customer in the removal of Equipment placed in storage. 
 3.4 Diagnostics. GE will provide
comprehensive diagnostics services to identify and diagnose trend shifts as follows: 
  

	 	a)	Engine condition data will be automatically processed [*****] 24 hours, 7 days a week (“24x7”) when received at the designated GE facility. GE will be responsible for operating and maintaining the [*****] and
the necessary facilities. 

  

	 	b)	[*****] for Engine condition monitoring trend shift observation, including engineering review, analysis, and recommendations will be provided to Customer, as required on a 24x7 basis; 

 

	 	c)	Access to [*****] for [*****] support and consultation as required on a 24 x 7 basis. 

  

	 	d)	Periodic teleconference to review reports and program status. 

  

	 	e)	Weekly engine health trend summary and analysis reports. 

  

	 	f)	Monthly engine thrust derate report. 

  

	 	g)	If desired by Customer, access to web-based tools for reviewing Engine condition data and assessing Engine health. 

  

	 	h)	24x7 automated processing of Engine exceedance data with automated exceedance notification via e-mail to Customer. 

  

	 	i)	24x7 notification and recommendation to Customer regarding Engine exceedances impacting next aircraft dispatch. 

  

	 	j)	24x7 automated processing of aircraft and Engine fault data with automated fault notification via e-mail to Customer. 

  

	 	k)	24x7 notification and recommendation to Customer regarding Engine faults impacting next aircraft dispatch. 

  

	 	l)	Daily aircraft and Engine fault summary reports (7 days a week) with analysis of Engine faults. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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 CONFIDENTIAL TREATMENT REQUESTED 

 
 Any information provided to Customer by GE for use in troubleshooting and managing
operations is advisory only. GE is not responsible for line maintenance or other actions resulting from such advice. Customer is responsible for identifying and resolving any aircraft or Engine faults or adverse trends. 

3.5 On Wing Support. GE On-Wing Support, Inc. (“OWS”) will provide scheduled, unscheduled, line or hospital shop maintenance Services which
are not otherwise considered to be Rate Per EFH Services, up to a maximum of [*****] hours per year during the first contract year of the Agreement and each year thereafter. Customer may carry over a maximum of [*****] of the unused hours from any
one year however, the carry-over amount is [*****]. Therefore the maximum number of hours is [*****] in any given contract year following the first contract year. Every [*****] accrued in non-labor related expenses (e.g., travel time, shipping,
materials, etc.) will be equivalent to one OWS hour. Any OWS Services provided in excess of the hours described above will be invoiced as Supplemental Work as per exhibit ‘H’. 

3.6 All services will be performed in accordance with (1) AAA regulations, (2) OEM overhaul and repair manuals, (3) Azul Engine Maintenance
Program, and such other particular condition as may be expressly mutually agreed to in writing by the Customer Azul and GE. 
 3.7 Turn Time Guarantee
(“TAT Guarantee”). GE guarantees a [*****] Turn Around Time for shop visits at Strother and [*****] for shop visits to be performed at GE Celma (reducing to [*****] for the second, [*****] for the third year, and [*****] thereafter) as
follows for the repair of Engines to a Performance Restoration Workscope in accordance with the terms herein. Turn time shall commence upon: [*****]. Turn Around Time shall end when the Engine is ready for Redelivery (as defined herein and evidenced
solely by GE’s placement of the 8130 Tag, or equivalent governing agency compliance tag, on such Engine) and picked up from the Designated repair Station by GE’s or its contracted agent for shipment to Customer’s facility. GE shall
add [*****] days to the Turn Around Time for Engines received with full [*****] attached. Changes to the Workscope may alter the committed Turn Around Time, which shall be mutually agreed upon at the time the changes are made. In the event of an
Interruption of Service, then the guaranteed Turn Around Time shall be extended by the period of such delay. For purposes of this Article 3.7 only, “Interruption of Service” shall mean an interruption in the Servicing of the Engine due to:
(a) circumstances described in Exhibit J, Article 2.0, “Excusable Delay”; (b) Customer’s failure to timely provide GE with information, records or parts to enable GE to proceed with the timely processing of the Engine: or
(c) the Engine is delivered to GE with missing parts, and Customer or GE cannot immediately supply replacement parts for such missing parts. Such TAT guarantee shall be contingent upon GE’s use of Ratable Parts. 

For the purpose of this Section 3.7, TAT shall be calculated on a 12 month rolling average basis. 

If the TAT is greater than what had been stated above, the DRS shall develop a mutually agreeable action plan with the Customer and will implement such action
plan as soon as practicable thereafter. 
 3.8 EGT Margin Guarantee - GE guarantees a [*****] EGTM as follows for the repair of Engines to a Performance
Restoration workscope. Should the Performance Restoration workscope EGTM be [*****], Customer and GE will review the performance, inspection and workscope records to evaluate potential causes for the recorded EGTM. Customer and GE will mutually
agree on follow up actions to remedy the condition including the option of reinducting the Engine into the shop for EGT margin correction. For the purpose of this Clause EGTM shall mean Exhaust Gas Temperature Margin (“EGTM”). GE further
guarantees that during the first [*****] of an engine following a Performance restoration, the maximum stabilized EGT will not exceed the certified Limit. The certified limit is exceeded lf the engine will not achieve takeoff thrust without
exceeding the certified limit for EGT 
 ARTICLE 4 – SUPPLEMENTAL WORK 

 

	4.1	Supplemental Work. Supplemental Work will include, but will not be limited to: 

  

	 	a.	Any and all Services not covered under Article 3 as Rate Per EFH Services; 

  

	 	b.	Any Services provided on Engines not eligible for Rate Per EFH Services; 

  

	 	c.	Services required as a result of: 

  

	 	(i)	An Aircraft Accident or Aircraft Incident; 

  

	 	(ii)	An act of God, military action or terrorist activity; 

  

	 	(iii)	Improper or negligent installation, operation, removal or maintenance of Customer’s Engine not in conformance with OEM manuals and experimental test applied to the Engine, unless performed by GE; 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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 CONFIDENTIAL TREATMENT REQUESTED 

 
  

	 	(iv)	The use of a non-GE [*****], part or repair; 

  

	 	(v)	Damage caused by transport of an Engine by unapproved method unless done so by GE or GE’s contractor; 

  

	 	(vi)	Removal and replacement of all non-GE parts; 

  

	 	(vii)	[*****] above and beyond what is covered in Article 3; 

  

	 	(viii)	The incorporation of [*****] not covered in Article 3; 

  

	 	(ix)	Engine [*****] programs or [*****] to another [*****] 

  

	 	(x)	Lease return conditions or sale of the Engine; 

  

	 	(xi)	Repair or replacement of [*****] components; or 

  

	 	(xii)	Replacement of [*****] 

  

	 	d.	Repair and maintenance services for Engine transportation stands and containers during shop visits; and 

  

	 	e.	Services provided at a shop visit for which Customer Delivered an Engine for Services against the advice and consent of GE’s Customer Program Manager or delegate unless it is determined after Delivery of the Engine
that such shop visit does qualify as a Rate Per EFH Shop Visit under Article 3.2. 

  

	 	f.	In the event an Engine is delivered to GE for Supplemental Work Shop Visit, which includes Full Performance Restoration, GE will provide such shop visit services in accordance with the Rate per EFH Services, and any
over and above (supplemental) charges will be invoiced accordingly as agreed to by the Parties at Workscope determination. 

ARTICLE 5 – PRICING 
  

	5.1	Rate Per EFH Pricing. Unless otherwise stated, all rates and prices are in 2009 US Dollars. Rate Per EFH Services will be performed by GE at the Rate Per EFH as follows. 

 

																													
	 	  	[*****]	 	 	[*****]	 	 	[*****]	 	 	[*****]	 	 	[*****]	 	 	[*****]	 	 	[*****]	 
	 Popular rate
	  	 	[*****	] 	 	 	[*****	] 	 	 	[*****	] 	 	 	[*****	] 	 	 	[*****	] 	 	 	[*****	] 	 	 	[*****	] 
	 Restored rate
	  	 	[*****	] 	 	 	[*****	] 	 	 	[*****	] 	 	 	[*****	] 	 	 	[*****	] 	 	 	[*****	] 	 	 	[*****	] 

 The above [*****] incurred starting on May 1st 2009. The above
[*****] is applicable to all EFH incurred since new. 
  

	•	 	Total [*****] Rate includes [*****] 

  

	•	 	Total [*****] includes [*****] 

  

	5.2	Rate Per EFH Operating Parameters. The Rate Per EFH is predicated on the following parameters: 

  

									
	Engines:	  	Utilization:	  	EFH/EFC Ratio:	  	[*****]	  	Altitude Adjusted
	 	  	 	  	 	  	 	  	Ambient Temp:
	Type: CF34-10E7	  	[*****] Average	  	[*****] hrs / 1 cycle	  	[*****] at a thrust	  	
	Qty: [*****] installed and [*****] spare Delivered in accordance with the Delivery Schedule set forth on Exhibits B, M and N [*****] Minimum Build = [*****]	  	EFH Per Year	  		  	rating of [*****] lbs.	  	[*****]

  

	5.3	Rate Per EFH Adjustment. 

  

	 	a.	Escalation. This rate shall adjust on an annual basis in accordance with the escalation formula set forth on Exhibit C. 

  

	 	b.	Severity. The Rate Per EFH will be adjusted when there is a deviation from the parameters in Article 5.2 per the Price Adjustment Matrix. Customer will provide information regarding the above parameters on a
monthly basis and in a mutually agreed upon format in accordance with Article 6. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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 CONFIDENTIAL TREATMENT REQUESTED 

 
 5.4 Supplemental Pricing. Supplemental Work Services will be performed by GE in
accordance with pricing provisions set forth on Exhibit E. This rate shall adjust on an annual basis in accordance with the escalation formula set forth on Exhibit F. 

5.5 [*****]. GE shall make available to Customer a maximum of [*****] of [*****]. These [*****] will be made available to Customer in the [*****] on the
[*****] outlined in Exhibit L attached hereto. 
 [*****] for [*****] totaling [*****] shall be issued to the Customer within five (5) Days of Customer
written request to GE subsequent to the issuance dates identified in the Exhibit L. For [*****], at the earlier of, end of the [*****] aircraft lease term or as of the date Customer returns aircraft to the lessor, Customer shall return such engine
thrust levels to the [*****]. Such [*****] amounts are [*****] and are [*****] for any change in the operating parameters (including number and delivery dates of Engines) set forth in Article 5.2 that reduces the Contracted Hours. Contracted Hours
are defined as the Annual Utilization multiplied by number of Engines multiplied by the number of years in the Term. 
 The remaining issued [*****] may
only be [*****] by Customer towards (i) the purchase of aircraft engine services from GE under a separate OnPoint Overhaul (time and material or component repair only) agreement between Customer and GE for the maintenance or repair of
Customer’s Engines, up to a maximum of [*****] of the invoice amount; (ii) up to a maximum of [*****] of the amount due under any Supplemental Work invoice issued under an OnPoint Solutions Rate Per EFH Agreement covering the Engines; or
(iii) the purchase of up to [*****] CF34-10E7 spare engines up to a maximum of [*****] of [*****] may be used for each spare engine and will be available on the issuance dates identified in Exhibit L. 

Such [*****] will be issued and valid only if Customer is current in all payments due and is otherwise not in material breach under this Agreement and any
other applicable agreements to which [*****] are to be applied. GE shall be entitled to set off from such [*****] any outstanding obligation and amounts that are due and owing from Customer to GE (and not subject to a good faith dispute). Customer
may carry over [*****]; however, [*****] must be applied by the end of the term of this Agreement. Any [*****] amounts outstanding at the end of the term of the Agreement will be canceled. 

If an Engine is removed from the Agreement and has not incurred sufficient EFH to meet the Contracted Hours for that Engine. any remaining [*****] to be
issued shall be reduced and, within thirty (30) Days of such Engine’s removal, Customer [*****] on a pro-rata basis based on EFH incurred and for which GE has received all Rate Per EFH Payments under
this Agreement. By way of example only, if an Engine being removed has incurred and GE has received all Rate Per EFH Payments for [*****] and the total Contracted Hours for this Engine are [*****], then Customer shall [*****] such Engine as
determined on a pro-rata basis based on the number of Engines covered by the Agreement. If GE has not received any Rate Per EFH Payments on the removed Engine, Customer shall [*****] allocated and [*****] such Engine as determined on a pro-rata
basis based on the number of Engines covered by the Agreement. 
 In the event of termination of this Agreement due to any reason other than the material
breach by GE, such [*****] will be cancelled and [*****] issued and applied as of the time of termination shall be [*****] to GE by Customer within thirty (30) Days of termination of this Agreement. 

ARTICLE 6 – INVOICING AND PAYMENT 
  

	6.1	Rate Per EFH Payments. 

 Monthly Billing: [*****] of each month, Customer
will provide to GE the Time Since New and Cycles Since New Hours by Engine serial number. Concurrently, GE and/or the Customer will provide to the other Party data on the average derate for each Engine in the previous month. Using this data. and the
data provided by the Customer in the preceding [*****], GE will determine the average flight leg, annualized utilization. derate and Altitude Adjusted Ambient Temperature parameters for the previous quarter for each Engine. The Current escalated
[*****] for each Engine will be adjusted in accordance with the Price Adjustment Matrix based on these parameters. This rate, [*****], will be provided to the Customer in the monthly invoice no later than the [*****] the month. For the sake of
clarity, the first EFH invoice will consist of all hours back to the commencement date. Customer will make payment within [*****]. 
 [*****]
Customer will remit to GE, prior to Redelivery of each Engine, an amount [*****] by that Engine since delivery from manufacturer of the aircraft in which such Engine was originally installed 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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 CONFIDENTIAL TREATMENT REQUESTED 

 
 
(for a new installed Engine), or since delivery from manufacturer (for a new spare Engine), or since the last Rate Per EFH Shop Visit for that Engine, whichever occurred last, multiplied by the
Current adjusted and escalated [*****]. In the event that Customer causes such payment to be made on its behalf by a third party, and such third party fails to pay some or all of the payment due to GE, then Customer will make the payment, in whole
or in part, to make up the amount not paid. In the event that such payment is not paid in full, GE is not obligated to perform its obligations under this Agreement with respect to such Engine. 

 

	6.2	EFH Minimum. 

 The monthly average EFH minimum is the lowest point on the Price Adjustment
Matrix. 
 a. [*****]: GE will compare the actual total EFH reported for each Engine during each calendar [*****] with the monthly minimum
multiplied by [*****] If the reported actual EFH is less than the EFH minimum, GE will render an invoice and Customer will pay GE the difference times the applicable adjusted and escalated [*****]. Payment will be made within [*****] from the date
of the invoice. 
 b. [*****]: At the time of an Engine’s Rate Per EFH Shop Visit, GE will compare the actual total EFH reported for
such Engine since new or since the last Rate Per EFH Shop Visit with the required EFH minimum. If the reported actual EFH for such Engine is less than the cumulative EFH minimum accrued during such period, then GE will render an invoice and Customer
will pay GE the difference times the applicable Current adjusted and escalated [*****]. 
 c. Engine Removal: In the event of an
Engine’s removal from this Agreement, or upon termination of this Agreement if an Engine has not had a Rate Per EFH Shop Visit, GE will compare the actual total EFH reported for such Engine since new or since the last Rate Per EFH Shop Visit
with the required minimum EFH. If the reported actual EFH is less than the EFH minimum, GE will render an invoice and Customer will pay GE the difference times the applicable adjusted and escalated [*****] Rate. Payment will be made within [*****]
from the date of the invoice. 
 d. If [*****] or more of Customer’s engine fleet fail to meet EFH minimum during any [*****]
consecutive [*****] throughout the term of the Agreement, GE will render an invoice for all installed Engines which did not meet such EFH minimum, and Customer will pay GE the difference times the applicable adjusted and escalated [*****]. Payment
will be made within [*****] from the date of the invoice. Any [*****] paid by the Customer under this clause will be credited back to the Customer at the time of a Performance Restoration Shop Visit. 

e. For the sake of clarification, [*****] should not be considered for the EFH minimum calculation, unless it is installed in the Aircraft and,
at this moment, the [*****] EFH will account for the installed [*****] that it has replaced. 
  

	6.3	Supplemental Work Payments. 

  

	 	a.	Initial Invoice: Upon completion of Supplemental Work Services, GE will issue an initial invoice for the Services which Customer will pay within [*****] of the date of invoice. All invoices shall be payable by
Customer [*****] in satisfaction of GE’s performance of Supplemental Work Services. 

  

	 	b.	Final Invoice: Following Redelivery, GE will issue a final invoice for Supplemental Work Services based on actual charges to complete the Services, including any credits due Customer. Such invoice will be
reconciled with the initial invoice and Customer’s payment. Customer will pay the final invoice within [*****] of the date of the invoice. All invoices shall be payable by Customer [*****] in satisfaction of GE’s performance of
Supplemental Work Services. 

 6.4 Late Payment Remedies. Should Customer fail to make any payment when due, GE may [*****], compounded daily
on any unpaid balance commencing on the next Day after the payment due date until such time as the payment plus the late payment charges are received by GE in full. Payments will be applied to any late payment fees then to the oldest outstanding
amounts in order of succession. If Customer fails to make any payment, which is not the subject of a good faith dispute, when due, and does not cure such failure within [*****] of such due date, GE may terminate or suspend performance of all or any
portion of this Agreement. In the event Customer’s account becomes delinquent or Customer’s credit status negatively changes, different terms of payment or other commercially acceptable assurances of payment may be applied. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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 CONFIDENTIAL TREATMENT REQUESTED 

 
 6.5 Payment. Considering that the use and/or installation of equipment and spare
parts imported from the United States of America account for a significant portion of the Services and that GE Celma shall be responsible for performing the Services by it self or through other DRS throughout the term of the Agreement to restore
Engines to Serviceable condition in accordance with the Repair Specification, the Workscope and the terms of this Agreement. all invoices and payments under this Agreement shall be made in Brazilian Reais in an amount equivalent to the USA Dollars
values referenced hereunder, as determined by using the average buy rate for the United States Dollar as published by the Central Bank of Brazil through SISBACEN, PTAX-800, option 5, as of the date of payment by Customer under the terms of this
Agreement. Payment shall be made [*****] by Customer to the bank account and address designated below: 
 GE Celma ltda 

[*****] 
 [*****] 

[*****] 
 CNPJ: 33.435.231/0001-87 

ARTICLE 7 – FLEET MANAGEMENT 
 7.1
Program Manager. GE will assign Customer Program Manager who will be the point of contact for Customer with respect to Services and who will: 
  

	 	a.	Draft a Procedures Manual and submit it to the Customer for mutual approval; The Procedures Manual will define standard or routine operating procedures used during daily execution of this Agreement such as shipping and
delivery instructions, routine communications, AOG procedures, technical performance reviews, Engine technical documentation standards, Engine and Parts configuration control and [*****] parts handling, and any other mutually agreed operating
procedures. In the event of a conflict between the Procedures Manual and this Agreement. then this Agreement shall take precedence over the Procedures Manual. 

  

	 	b.	Work with the Customer, on a monthly basis, to develop a Removal Schedule and a shipment schedule which will identify by serial number the Engine(s) to be removed and shipped during the following [*****] month period,
the anticipated reason for removal of each, and the schedule for Delivery. 

  

	 	c.	Work with the Customer to develop a Repair Specification which is consistent with the GE Workscope Planning Guide. Customization beyond the recommendations in the Workscope Planning Guide can be addressed but may result
in an adjustment in the pricing set forth in Article 5. Any subsequent changes or amendments to the Repair Specification will be mutually agreed by the Parties and may result in an adjustment in the pricing set forth in Article 5. 

 

	 	d.	Work with Customer in developing as required Supplemental Workscope requirements. 

  

	 	e.	Managing and overseeing GE’s relationship with Customer with respect to this Agreement 

  

	 	f.	Take care of all issues related to Customer’s account as its single point of communications. In the event of absence of the assigned Customer Program Manager, GE will designate an acting program manager who will be
knowledgeable in all Customer related Issues in order to oversee all work requirements. 

  

	 	g.	To be the focal point to ensure that GE fulfils its obligation to Customer under this Agreement. 

  

	 	h.	Customer and GE will hold meetings on a quarterly basis, or such other time frame as may be mutually agreed to by the Parties, at a location to be determined by the Parties to review any issues concerning this
Agreement. 

  

	 	i.	Each Party shall ensure that all such meetings are attended by its appropriate representatives in order to facilitate discussion of each of the items listed above 

7.2 Workscope. Prior to Induction. GE will prepare a Workscope in accordance with GE Workscope Planning II Guide, Repair Manual and Repair
specification , Customer’s Aircraft/Engine Maintenance Program, Customer’s General Maintenance Manual and provide it to Customer for approval. Workscope shall incorporate the [*****] minimum build specification requirement of [*****]
remaining before a next shop visit. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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 7.3 Records. The GE record system will include documentation of all Services performed, Rework operations
required and disposition of all Parts replaced. GE agrees to keep all records herein described in form and detail sufficient for accurate and expeditious administration of this Agreement and shall furnish Customer with the following records and
reports, as applicable for each Shop Visit, upon the release of any Engine, Module or other Component to Customer (unless otherwise specified): 
  

	 	•	 	FAA Form 8130-3 Airworthiness Approval Tag and ANAC equivalent (Segvoo 003) 

  

	 	•	 	FAA Form 337 Major Repair and Alteration and ANAC equivalent (Segvoo 001). 

  

	 	•	 	FAA Airworthiness Directives Compliance Status Report, 

  

	 	•	 	Engine Life Limited Parts status, 

  

	 	•	 	Engine Modules Serial Number, Time and Cycles Since New / Overhaul, 

  

	 	•	 	Service Bulletin / Modification Incorporation Report, 

  

	 	•	 	List of Installed Accessories and Components including Times and Cycles (as required), 

  

	 	•	 	FAA Form 8130-3 or Segvoo 003 for each accessory / wiring harness repaired / modified / bench tested, 

  

	 	•	 	Engine Test Log, 

  

	 	•	 	Incoming Inspection report 

  

	 	•	 	Shop findings report 

  

	 	•	 	List of Engine Parts On / Off log (as required),, 

  

	 	•	 	Confirmation of engine long term preservation, 

  

	 	•	 	Open item list, 

  

	 	•	 	Life of all Life Limited Parts and/or time tracking Parts, i.e. list of hours and cycles (TSN, CSN, TSLSV, CSLSV, TSO, CSO), and 

  

	 	•	 	Powerplant Inventory Checklist 

  

	 	•	 	As required, accident and damage reports, including pictures and laboratory investigation results, will be issued by GE 

7.3 Line Maintenance. Customer will provide all line maintenance and repair and line station support, consistent with Customer’s historical
maintenance practices and OEM recommendations. 
 7.4 Monitoring Equipment. Customer will provide an automated method to transfer operational and
maintenance data to GE for the monitoring and diagnosis of Engine condition. If the aircraft is equipped with air-to-ground equipment such as AGARS. the Customer will forward the data directly to the GE SITA/ARINC address. If air-ground equipment is
not available, GE will work with Customer to establish an alternate electronic means of providing this data. 
 7.5 Designated Repair Station. The
Designated Repair Station (“DRS”) will be Strother until December 31, 2012 GE will make reasonable efforts to place full overhaul capability into the Celma, Brazil shop for CF34-10E engines. Based on volume of demand for CF34-10E
engine overhauls in Latin America, GE estimates capability to be achieved in the 2012/2013 timeframe. GE will make reasonable efforts to have a similar level of overhaul capability on the CF34-10E engine as it does on other product lines that are
serviced at the Celma, Brazil shop. GE may change the DRS upon Customer’s consent, which shall not be unreasonably withheld or delayed provided such facility is properly certified and rated by the Approved Aviation Authority to perform the
required services as required by the mutually approved workscope between Azul and GE and in accordance with the terms of the Agreement. GE may provide Services at a location other than a Repair Station including performance of repairs on-wing or
on-site provided GE has obtained Azul’s prior written consent to perform such services at a location other than the DRS. If GE changes the DRS, Customer’s financial obligations, including related taxes, fees, import and customs duties (if
any) under this Agreement will be no greater than if Services were performed at the initial DRS or Celma after December 31, 2012. If GE Celma is not operational by December 31st, 2012, GE and Customer will work on a mutual beneficial plan
to resolve such delay in order to keep Customer’s financial obligations under this Agreement no greater than if Services were to be performed at GE Celma as of December 31, 2012. 

7.6 Subcontracting. All Services performed under the Agreement will be performed by GE or its designated subcontractors at maintenance and repair
facilities that are properly licensed, rated, certified by the AAA to perform the Services. GE will obtain Customer’s consent, pursuant to its General Maintenance Manual requirements, which shall not be unreasonably withheld or delayed, prior
to subcontracting Services on an entire Engine assembly. However, GE shall not be required to obtain Customer’s consent to subcontract Services on individual components of an Engine. If GE does subcontract Services, the Customer obligations
under this Agreement will be no greater than if such Services were performed at the DRS. Customer will, at its sole expense, have the right to review GE’s quality system audit report(s) for such subcontractor(s). Subcontracting of any Services
will not relieve GE of its performance obligations set forth in this Agreement. GE shall remain responsible for any subcontractor’s performance thereof. 

  

					
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 7.7 Parts Replacement Procedures. 

 

	 	a.	Missing Parts. Upon Delivery, GE will notify Customer of any (A) components or LRU’s missing from Engines. GE will replace such missing items at Customer’s expense as Supplemental Work, unless
Customer notifies GE in writing within a reasonable period of time of receiving GE’s notice that Customer wishes to furnish such missing items within a period of time specified by GE. 

 

	 	b.	Parts Replacement. GE will determine which parts are required to perform the Services and will provide all parts and materials (new or used Serviceable, including use of Rotable Parts) required to accomplish the
Services. Each used Serviceable part will be a GE part of a similar age, value and utility to the removed Part. GE may issue compatible parts from GE’s Rotable Parts inventory to replace Customer’s parts requiring Services. Customer agrees
to accept compatible Rotable Parts that are in compliance with the OEM Approved Repair Specification provided: 

 1. GE
supplied replacement parts will be of equal or greater value and equal or latest configuration than that of the Part that is being replaced In order to maintain configuration and/or modification standard in accordance with the Customer’s
General Maintenance Manual. 
 2. With respect to used, serviceable replacement parts, no incident/accident-related Parts from sources other
than Customer shall be installed in any Engine. 
 3. Parties shall work to the best reasonable efforts to determine and identify LRU parts
used from the pool, which have been removed multiple times in the previous 12 months. GE will work with Customer to determine the course of action for the LRU components identified with multiple removals. 

 

	 	c.	Life Limited Parts. All replacement Life Limited Parts will have complete back to birth traceability. GE will provide Customer with information about the previous owners for each replacement Life Limited Part if
so applicable and requested. No replacement Life Limited Parts will be incident/accident-related, as evidenced by GE to Customer in accordance with the Customer’s General Maintenance Manual. 

 

	 	d.	GE will replace, as Supplemental Work, any LLP that GE receives from Customer without the required records. Prior to replacing such LLP, GE will notify Customer of any missing (or incomplete) records and allow Customer
two business days to acknowledge and forward such missing or incomplete records, or GE may immediately replace such LLP without additional notice. 

  

	 	e.	Customer Furnished Equipment (“CFE”). For Supplemental Work only, upon GE’s prior approval on a case-by-case basis, Customer may supply parts to GE as CFE, if such parts are: (A) GE parts;
(B) consistent with the approved Workscope; (C) provided with an AAA serviceability tag; and (D) ready for immediate use. Such CFE is subject to a material handling fee in accordance with Supplemental Work pricing in Exhibit E.

  

	 	f.	Title to Parts or Material. GE furnished parts and material incorporated into an Engine will be deemed to have been sold to Customer and title to such parts and material will pass to Customer upon incorporation
into such Engine. Risk of loss or damage to such parts and material will pass to Customer upon Redelivery of the Engine. Title to and risk of loss of any parts removed from the Engine that are replaced by other parts (including Repairable parts)
will pass to GE upon incorporation of replacement parts into the Engine. 

  

	 	g.	Scrapped Parts. GE will dispose of all Scrapped Parts at its sole expense and without any further adjustment to Customer. For Supplemental work, Customer shall have final approval for determining if a part is
BER. 

 7.8 Auditing. The appropriate aviation authorities and Customer’s representatives may at all reasonable times, audit the
performance of Services. No such auditing shall constitute an acceptance of Services. 
 ARTICLE 8 – WARRANTY 

8.1 Workmanship Warranties. 
  

	 	a.	Services Warranty 

 Rate Per EFH and Supplemental Work Services performed shall be free
from defects in workmanship. Defects in workmanship will be remedied through continued performance of Services under the Agreement for the balance of the term thereof. 

  

					
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 CONFIDENTIAL TREATMENT REQUESTED 

 
 For Engines repaired and Redelivered within [*****] calendar months preceding expiration
of this Agreement, if Customer claims a defect in workmanship within either [*****] calendar months or [*****] EFH following Redelivery, whichever comes first. and a) Customer provides written notice to GE of such defect within [*****] of its
discovery, and b) Customer ships to GE the part or component which gives rise to the claim, or. in cases in which shipment is commercially impracticable, makes such part or component reasonably available to GE’s personnel, and c) GE reasonably
establishes that Customer’s claim is correct, GE will provide the following: 
  

	 	(i)	Repair or replacement of such defective workmanship using its own forces or subcontractor; provided that time spent by GE to correct defective workmanship shall not count towards workmanship guarantee period detailed in
this Section 8. 1 or, upon prior written approval from GE, ii) pay Customer’s reasonable, direct costs for such repairs, but in no event shall such costs exceed GE’s internal costs of repair (For the avoidance of any doubt, Customer
shall not be liable for expenses associated with the correction of defect in workmanship in accordance with the terms of this Section 8.1.) and iii) reimburse Customer for transportation expenses reasonably incurred and adequately documented by
Customer in connection with the warranty claim. The warranty period for the repaired or replaced workmanship will be the remainder of the original warranty period. 

 

	 	b.	Conditions and Limitations – Applicable to Services Warranty 

 Any warranty for
Engines or parts, LRU’s, components and material thereof, including the design, material or engineering defects of a manufacturer, will be the warranty, if any, of the manufacturer of such Engines or parts, LRU’s, components or material
thereof. 
 The foregoing will constitute the sole remedy of Customer and the sole liability of GE for defective workmanship relative to
Customer’s Engines. The liability of GE connected with or resulting from the Services warranty will not in any case exceed the cost of correcting the defect as provided above, and, upon the expiration of the shortest period described therein,
all such liability will terminate. In no event will GE be liable for any special, expectation, consequential, incidental, resultant, indirect, punitive or exemplary damages (including loss of use, loss of profit or loss of revenue in connection with
the Engines). 
 THE WARRANTIES SET FORTH HEREIN ARE EXCLUSIVE AND IN LIEU OF ALL OTHER WARRANTIES, WHETHER WRITTEN, ORAL, EXPRESSED,
IMPLIED OR STATUTORY (INCLUDING ANY EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY AND FITNESS FOR PARTICULAR PURPOSE). 
 8.2 Assignment of
Warranties. Customer will assign to GE all applicable Engine warranties and guarantees using the Warranty Assignment Letter attached as Exhibit K. Upon termination of the Agreement. any such remaining warranties will be reassigned to Customer.

 8.3 Pre-existing Warranties. Customer will assure that any requested repair of an Engine, accessory or component that is covered under a
third-party warranty that is not assigned to GE will be performed directly by that person at no expense to GE. Notwithstanding the above, GE may accept a purchase order for the time and material repair of a warranted item from Customer or the person
giving the warranty. 
 ARTICLE 9 – DELIVERY/REDELIVERY 

9.1 Delivery. All Engines to be serviced will be delivered by Customer to GE. Such Engines will be shipped to GE for restoration to a serviceable
condition in accordance with Customer’s schedule and operational requirements and the agreed to Shipment Schedule. If Customer holds any Engines beyond the timing set forth by the Shipment Schedule, then GE, at its sole discretion, will send an
invoice to Customer for the [*****] per Article 6.1 or elect to remove the Engine held by Customer in accordance with Article 11.1.1. 
 9.2 External
Engine Configuration. Prior to the first shop visit under this Agreement, the Parties shall agree upon an external Engine configuration specification. Upon Delivery of each Engine, GE will notify Customer of any deviations from the configuration
specification of Engines Delivered for Service, and GE and Customer will work to resolve the deviations. 
 9.3 Engine Documentation. Upon Delivery
of each Engine, Customer will provide to GE the information and records set forth in the Procedures Manual. Customer’s failure to timely furnish the required information may delay Induction of the Engine for Service, may cause an Excusable
Delay and may result in premature LLP replacement. Upon receipt of Engine at GE facility, GE will inspect the Engine and complete a receipt condition report. Such report will be forwarded to Customer within five (5) business days after of
engine delivery to GE facility. Report shall include notification of any Accessories/Components, LRU found to be missing or damaged in transit. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

 9.4 Packaging. Customer is responsible for all packaging, labeling and associated documentation of the
Engine at Delivery, in accordance with the International Civil Aviation Organizations (ICAO) Technical Instructions for the Safe Transport of Dangerous Goods by Air, and if the Engine is to be transported over the United States of America, the US
Department of Transport Regulations 48 CFR 171-180. If required by applicable law or regulations, Customer will further provide a material safety data sheet to GE at Delivery of the Engine indicating any substances contained within the Engine to be
consigned. Customer will indemnify, defend and hold harmless GE from all or any claims, liabilities, damages, judgments, costs, penalties, fines and/or any punitive damages imposed, alleged, or assessed by any third party against GE and caused by
and to the extent of Customer’s non-compliance with this Article 9.4. 
 9.5 Shipping Stands. Customer will provide and maintain all shipping
stands, shipping containers, mounting adapters, inlet plugs and covers, required to package the Engine for Redelivery. GE will return each engine stand with the engine that it was originally delivered with. In no event, GE shall return an engine
stand to Customer that is not owned by Customer, unless agreed to between the Parties. 
 9.6 Redelivery. After completion of Services. GE will
prepare and package the Engine for Redelivery to Customer and provide a Services records package that complies with AAA regulations within five (5) business days of redelivery. Customer will accept redelivery at Customer’s facility defined
in associated Work Order and complete a redelivery condition report. GE will advise Customer of the completion of Services and will arrange for transportation to Customer designated facility. Such notice will be given five (5) days prior to the
scheduled ship date. GE shall comply with the reasonable instructions of Customer as to markings to be placed on invoices, bills of lading, packing lists, correspondence and shipping containers. 

ARTICLE 10 – ADDITION OF ENGINES 

10.1 Addition of Engines. Customer and GE may agree to amend Exhibit 8 to add Engines to the Agreement after the Commencement Date. For each added
Engine, Customer will provide information, including, but not limited to, Engine serial number, aircraft tail number, previous operator, current owner, operating time and fight cycles since new and, if applicable, operating time and fight cycles
since last shop visit, historic derate information and thrust rating to be used. Added Engines that have not undergone a shop visit will be eligible for Rate Per EFH Services and Supplemental Services on the date of their addition to the Agreement.
Added Engines that have undergone a shop visit are eligible for Supplemental Services as of the date of their addition to the Agreement and are eligible for Rate Per EFH Services either as of the date of the completion of the QSV or, the date of
their addition to the Agreement if no QSV is necessary. GE will determine if such QSV is required based on an evaluation of the operating parameters of the Engine and other technical considerations. Such QSV shall be invoiced on a Supplemental Work
basis. Engines that have previously and exclusively been maintained off wing by GE or one of its repair stations pursuant to a maintenance or repair service agreement will not require a QSV. 

10.2 Adjustment of Rate. GE will evaluate the effect of any Engine’s addition on the Rate Per EFH taking into consideration effects on the fleet
size, age and condition of the Engines and other commercial considerations and may adjust the Rate Per EFH accordingly upon mutual agreement. The adjusted Rate Per EFH will be incorporated into the Agreement by way of amendment and Customer will pay
the adjusted Rate Per EFH for all EFH incurred by all Engines from the date such added Engine enters the Agreement. 
 10.3 Adjustment of Rate for
Optional Engines and Leased Engines (Exhibit M and N). The Parties agree that any Engines added by mutual agreement per the terms of Exhibits M and N will be incorporated into the Agreement by way of amendment and it shall comply with all terms
and conditions set forth in Exhibits M and N and applicable terms and conditions of this Agreement. 
 ARTICLE 11 – REMOVAL OF
ENGINES 
 11.1 Removal of Engines. Customer may remove Engines from this Agreement upon advance written notice, if Customer is no longer
operating the Engines and is no longer responsible for maintenance of the Engines for the following reasons: 
  

	 	a.	Bona fide sale or other bona fide transfer to an unaffiliated third party; 

  

	 	b.	Return to the Lessor; or 

  

	 	c.	If the Engine has been reasonably determined to be BER 

  

					
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 CONFIDENTIAL TREATMENT REQUESTED 

 
 In all cases of Engine removal, GE and Customer must mutually agree on
which Engine will be removed, unless Customer’s lessor dictates otherwise. Any Engine removal will be subject to reconciliation provisions set forth below. 

11.1.1 GE may remove Engines from this Agreement in accordance with Article 9.1 hereof. In this case, Customer acceptance shall not be necessary. 

11.2 Reconciliation: 
  

	 	1.	If a removed Engine has not undergone a shop visit for Rate Per EFH Services, Customer will pay GE, an amount equal to [*****] of the [*****], as escalated and adjusted in accordance with the terms of this Agreement,
for every EFH since such removed Engine has been covered by the Agreement. GE will retain all [*****] payments received up to the time of removal; 

  

	 	2.	If a removed Engine has undergone at least one shop visit for Rate Per EFH Services, GE will calculate the total cumulative charges for all Rate Per EFH Services provided for such removed Engine as if such Services were
provided on a Supplemental Work basis and the Supplemental Work pricing had applied (‘‘Supplemental Charges”). GE will then compare such Supplemental Charges to the [*****] payments received from the Customer for such removed Engine.
If Supplemental Charges are greater than the [*****] payments received from the Customer for the removed Engine at the time of the Rate Per EFH Shop Visit less [*****], then GE will invoice Customer for the difference. On the other hand, if
Supplemental Charges are lower than the [*****] payments received from the Customer for the removed Engine at the time of the Rate Per EFH Shop Visit, then GE will credit Customer for the difference. GE will also invoice Customer in an amount equal
to [*****] of the [*****], as escalated in accordance with the terms of this Agreement, for the EFH incurred by such Engine since the last Rate Per EFH Shop Visit. Customer will pay the invoice within [*****] of receipt. GE will retain all [*****]
payments received up to the time of removal. 

 GE agrees that if Customer removes an Engine from the Agreement due to the end
of a leasing contract with a lessor, and if by that moment. Customer adds an Engine to the Agreement to compensate GE for the loss of a removed Engine, GE will evaluate the impact of the removal as well as the addition of new Engines, and will enter
into good faith negotiation with Customer. in order to mitigate some of the reconciliation fees set forth in articles 11.2.a and 11.2.b above. If Parties does not reach an agreement after negotiating in good faith, Customer acknowledges and consents
that reconciliation as per the terms of Section 11.2 (a) and (b) hereof shall apply to such removed Engines. GE will retain all [*****] payments received up to the time of removal. 

11.3 Adjustment of Rate: 
 GE will evaluate the effect of
any Engine’s removal on the Rate Per EFH taking into consideration effects on the fleet size, age and condition of the Engines and may adjust the Rate Per EFH accordingly upon mutual agreement. The adjusted Rate Per EFH will be incorporated
into the Agreement by way of amendment and Customer will pay the adjusted Rate Per EFH for all EFH incurred by all Engines from the date of the Engine removal. 

ARTICLE 12 – TERMINATION 
 12.1
Insolvency. Either Party may terminate or suspend performance of all or any portion of this Agreement if the other Party: (A) makes any agreement with any of other Party’s affiliated and/or related companies as creditors due to its
inability to make timely payments of its debts; (B) enters into bankruptcy or liquidation, whether compulsory or voluntary; (C) becomes insolvent; or (D) becomes subject to the appointment of a receiver of the whole or material part
of its assets. If such termination should occur, Customer will not be relieved of its payment obligation for Services rendered hereunder. 
 12.2
Material Provisions. Either Party may terminate this Agreement upon ninety {90) Days written notice to the other for failure to comply with any material provision of this Agreement, unless the failure will have been cured or the Party in
breach has substantially effected all acts required to cure the failure prior to such ninety (90) Days. 
 12.3 Other Agreements.
Customer’s material breach of this Agreement, if not cured hereunder, will. at GE’s option, be a material breach of all other agreements and contracts between Customer and GE. In such an event. GE may: (A) suspend performance under
this Agreement, and any or all of the other agreements and contracts until a reasonable time after all defaults have been cured; (B) require Customer to [*****] Fleet terminate this Agreement and any or all other such agreements and contracts;
and/or (D) pursue any other remedy with respect to this Agreement or the other agreements and contracts which the law permits. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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 CONFIDENTIAL TREATMENT REQUESTED 

 
 12.4 Maximum Removals. If the number of Engines decreases to less than [*****] of
the highest number of Engines at any time during the term of this Agreement. GE may terminate this Agreement. 
 12.5 Payment for Services Performed.
In the event of termination of this Agreement for any reason, Customer will pay GE, in addition to any other remedy allowable under this Agreement or applicable law, for all Services or work performed by GE up to the time of such termination under
the applicable terms and prices of this Agreement including all costs, fees, and charges incurred by GE in providing support and material under this Agreement including lease engines. In addition, the terms of the reconciliation of Rate Per EFH
Payments under the removal of Engines provisions of Article 11 will apply. 
 12.6 Work in Process, Redelivery of Customer’s Engines. Upon the
termination or expiration of this Agreement, GE will complete all work in process in a diligent manner and Redeliver all Engines, parts and related documentation, provided that Customer (a) has paid in full all charges for all such Services and
material, plus all costs, fees and penalties, incurred by GE in providing support. including any lease engines, and (b) has returned all lease engines provided under this Agreement. 

12.7 Minimum EFH Utilization. If [*****] of installed engines is not meeting the monthly EFH minimum at any time during the term of this Agreement. GE
may terminate the Agreement. 
 12.8 Termination due to Change in the Currency of Reference - If the use of US Dollars as the currency of reference
for payments in Reais under this Agreement pursuant to Article 6.5 is changed due to a change on Brazilian law and or Brazilian regulations on the subject, the Parties shall work together in good faith to develop an alternative solution to this
issue. If the Parties are unsuccessful in developing an alternative resolution, either party shall be entitled to cause the immediate termination of this Agreement upon a thirty (30) day prior written notice to the other party without paying
any damages or indemnity to in connection with such termination. 
 ARTICLE 13 – REPRESENTATIONS 

13.1 Customer represents to that it is a corporation, duly organized, validly existing and in good standing under the laws of Brazil. GE represents that it is
a corporation, duly organized, validly existing and in good standing under the laws of State of Delaware. 
 13.2 Customer and GE each represent that the
execution and delivery of this Agreement has been duly and validly authorized by all requisite action on their part. This Agreement has been duly executed and delivered on behalf of Customer and GE, and constitutes a legal, valid and binding
obligation of Customer and GE enforceable in accordance with its terms. 
 13.3 Customer and GE each represent that they have had an opportunity to review
this Agreement and consult with legal counsel prior to execution, and the final form of this Agreement is the result of good faith, arms length negotiations. Customer and GE each represent that this Agreement is fair and commercially reasonable, and
is an ordinary maintenance agreement in their respective industries. Customer further represents that this Agreement is supported by mutual consideration and promises that benefits Customer even though GE may only be required to provide minimal
Service during any given month. Similarly, GE represents that this Agreement is supported by mutual consideration and promises that benefits GE even though GE may be required to provide extensive Service during any given month. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

 ARTICLE 14 – GENERAL TERMS AND CONDITIONS 

The General Terms and Conditions are set forth on Exhibit J. 

IN WITNESS WHEREOF, The parties hereto have executed this Agreement as of the day and the year first above written. 

 

									
	GE ENGINE SERVICES, INC.	 		 	Azul Linhas Aereas Brasileiras S.A.
					
	By:	 	 /s/ Douglas J. Izarra
	 		 	By:	 	 /s/ Gerald B. Lee

					
	Printed Name:	 	 Douglas J. Izarra
	 		 	Printed Name:	 	 Gerald B. Lee

					
	Title:	 	 General Manager – Latin America
	 		 	Title:	 	 Director

				
	GE Celma Ltda.	 		 		 	
					
	By:	 	 /s/ Marcelo Luiz da Silva Soares
	 		 		 	
					
	Printed Name:	 	 Marcelo Luiz da Silva Soares
	 		 		 	
					
	Title:	 	 CEO
	 		 		 	
					
	By:	 	 /s/ João Batista Guimaráes Moragas
	 		 		 	
					
	Printed Name:	 	 João Batista Guimaráes Moragas
	 		 		 	
					
	Title:	 	 CFO
	 		 		 	

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 17 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT A: DEFINITIONS 

Capitalized terms used in the recitals and elsewhere in the Agreement but not otherwise defined in this Agreement will have the following meanings: 

“Agreement”- This Rate Per EFH Engine Services Agreement, as the same may be amended or supplemented from time to time, including all its Exhibits.

 “Aircraft Accident” - An occurrence caused by the operation of an aircraft in which any person suffers a fatal injury or serious injury as a
result of being in or upon the aircraft or by direct contact with the aircraft or anything attached to the aircraft, or in which the aircraft receives substantial damage or a third party’s property is damaged in any way. 

“Aircraft Incident” - An occurrence, other than an Aircraft Accident, caused by the operation of an aircraft that affects or could affect the safety
of operations and that is investigated and reported. 
 “Airworthiness Directive” or “AD” - A document issued by the AAA having
jurisdiction over the Engines, identifying an unsafe condition relating to such Engines and, as appropriate, prescribing inspections and the conditions and limitations, if any, under which the Engines may continue to operate. 

“Approved Aviation Authority” or “AAA”- As applicable, the Federal Aviation Administration of the United States
(‘‘FAA’’), the European Aviation Safety Authority (“EASA”), ANAC or, as identified by Customer and agreed in writing by GE, such other equivalent foreign aviation authority having jurisdiction over the performance of
Services provided hereunder. 
 “Beyond Economic Repair” or “BER” - When the cost, calculated on a Supplemental Work basis, to restore
an Engine to the requirements of the Repair Specification [*****] of the fair market value of a comparable Serviceable Engine. 
 “CLP” -The
manufacturer’s Current catalog or manufacturer’s Current list price pertaining to a new Engine or part thereof. 
 “Current” - As of the
time of the applicable Service or determination. 
 [*****] 

“Day” - Calendar day unless expressly stated otherwise in writing. If performance is due on a recognized public holiday, performance will be
postponed until the next business day. 
 “Delivery” – (i) For Engines serviced at GE Celma shop, the arrival of an Engine together with
all applicable records and required data [*****], International Chamber of Commerce, Incoterms 2000, at [*****], whereby Customer fulfills the obligations of seller and GE fulfills the obligations of buyer; and (ii) For Engines serviced at any
other Designated Repair Station, the arrival of an Engine together with all applicable records and required data [*****], International Chamber of Commerce, [*****], at the [*****], whereby Customer fulfills the obligations of seller and GE fulfills
the obligations of buyer. “Deliver” will mean the act by which Customer accomplishes Delivery. 
 “Designated Repair Station” or
“DRS” - The primary Repair Station designated by GE where GE performs Services on Engines. 
 “Dollars” or “$” - The lawful
currency of the United States of America. 
 “Engine” - Each bare engine assembly or, as applicable, Engine module, which is the subject of this
Agreement and identified in Exhibit B, [*****] as described in the engine manufacturer’s specification manuals. 
 “Engine Flight Hour”
or “EFH” - Engine flight hour expressed in hourly increments of aircraft night from wheels up to wheels down. 
 “Foreign Object Damage”
or “FOD” - Damage to any portion of the Engine caused by impact with or ingestion of a non-Engine object such as birds, hail, ice or normal runway debris. FOD may be further classified as a “Major FOD”, which means FOD that
causes an out of limit condition per the Aircraft Maintenance Manual, and which, either immediately or over time, requires the Engine to be removed from service or prevents the reinstallation of the Engine. 

“Induction” - The date work commences on the Engine at the DRS when all of the following have taken place: (i) GE’s receipt of the Engine
and required data (ii) Parties’ approval of the Workscope (iii) Parties’ agreement on use of the Customer Furnished Equipment: and (iv) receiving inspection (including pre-testing if needed). 

“Life Limited Part” or “LLP”- A part with a limitation on use established by the OEM or the AAA, stated in cumulative EFH or cycles. 

“Line Replaceable Unit” or “LRU” - A major control or accessory that is mounted on the external portion of an Engine. which can be
replaced while the Engine is on-wing. 
 “New Engine” - An Engine which has not undergone a shop visit, which has less than 100 EFH since new and
which contains only GE approved parts and GE approved repairs. 
 “OEM” - The original manufacturer of an Engine or part thereof. 

“Performance Restoration”- The Services performed during a shop visit in which, at a minimum, the combustor and high-pressure turbine are exposed
and subsequently refurbished, consistent with the Repair Specification. 
 “Price Adjustment Matrix”- The matrix set forth on Exhibit D by which
the Rate Per EFH is adjusted based on Customer’s operating parameters. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 18 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 “Procedures Manual” - A separate document, not part of this Agreement, which
provides detailed procedures and guidance for the administration of the Agreement. In case of conflict between the Procedures Manual and the Agreement, the Agreement will prevail. 

“Qualifying Shop Visit” - A Repair Station visit during which the initial Performance Restoration is performed on an Engine on a Supplemental Work
basis and which shall include the removal of all non-GE parts and non-GE approved LRU’s, parts and repairs. The purpose of the Qualifying Shop Visit is to qualify such Engine for the Rate Per EFH fixed rate pricing for subsequent shop visits.

 “Rate Per EFH”- The [*****] and the [*****] as set forth in Article 5. 

“Rate Per EFH Services” - Those Services provided pursuant to Article 3. 

“Rate Per EFH Payments” - Any payments made pursuant to Article 6. 

“Redelivery”·- (i) For Engines serviced at GE Celma shop, the shipment of a Serviceable Engine with legally required certifications.
DDP, International Chamber of Commerce, [*****], at [*****], whereby Customer fulfills the obligations of buyer and GE fulfills the obligations of seller; and (ii) For Engines serviced at any other Designated Repair Station, the shipment of a
Serviceable Engine with legally required certifications, [*****], International Chamber of Commerce, [*****], at the [*****], whereby Customer fulfills the obligations of buyer and GE fulfills the obligations of seller. “Redeliver” will
mean the act by which GE completes Redelivery. 
 “Removal Schedule” -The schedule jointly developed by GE and Customer for Engine removals for
Services or Engine removal from operation. 
 “Repair Specification” - The mutually agreed repair specification which establishes the minimum
baseline to which an Engine or part thereof will be inspected, repaired, modified, reassembled and tested to make and Engine Serviceable. Such Repair Specification will meet or exceed the recommendations of the OEM’s operational specifications,
applicable OEM maintenance or overhaul manuals and Customer’s maintenance plan that has been approved by the AAA. 
 “Repair Station” - One
or more of the repair facilities owned by GE or its affiliates, now or in the future. which are certified by an appropriate AAA to perform the applicable Service hereunder. A list of such repair facilities will be provided upon request. 

“Repairable” - Capable of being made Serviceable. 

‘‘Rotable Part” - A new or used Serviceable part drawn from a common pool of parts used to support one or more customers. A Rotable Part
replaces a like part removed from an Engine when such removed part requires repair. 
 ‘‘Scrapped Parts” - Those parts determined by GE to be
Unserviceable and BER. 
 “Service(s)” - With respect to an Engine or part thereof, all or any part of those maintenance, repair and overhaul
services provided under this Agreement as either Rate Per EFH Services or Supplemental Work Services. “Serviced” will be construed accordingly. 

“Service Bulletin” or “SB” - The document issued and identified as a Service Bulletin by an OEM to notify the operator of modifications,
substitution of parts, special inspections, special checks, amendment of existing life limits or establishment of first time life limits, or conversion of an Engine from one model to another. 

“Serviceable” - Meeting all OEM and AAA specified standards for airworthiness. 

“Shipment and Induction Schedule” - The schedule jointly developed by GE and Customer for an unserviceable Engine to be shipped by Customer to GE
for Services and to be inducted at DRS. If GE and Customer fail to agree to a Ship Schedule within 14 days of an Engine removal, then GE, at its sole discretion, will send an invoice to Customer for the [*****] per Article 6.1 or elect to remove the
Engine held by Customer in accordance with Article 11.1.1. 
 “Supplemental Work Services” - Those Services provided pursuant to Article 4. 

“Termination” - The ending of this Agreement before the expiration of the Initial Term or extension thereof. 

“Unserviceable” - Not meeting all OEM and AAA specified standards for airworthiness. 

“Used Engine” - An Engine which has undergone a shop visit or which has more than 100 EFH since new. 

“Workscope” - The document written by GE and approved by Customer describing the prescribed repair or approach to repair of an Engine to meet the
requirements of the Repair Specification, including appropriate reliability and performance enhancements. 
 “Workscope Planning Guide” - The
document published by GE Aviation which describes the “on condition” maintenance concept for the engines. This document communicates the timing and extent of work required to enable operators to achieve reliability, performance, and
maintenance cost goals. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 19 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT B: ENGINES COVERED 

Customer will maintain a spare Engine(s) to installed Engines ratio of not less [*****] rounded up to the next whole Engine, during the term of this
Agreement. However, GE will work with Customer if the ratio falls [*****] 
 Embraer Aircraft Order Delivery Schedule 

 

					
	 A/C Qty.
	  	 Engine / Aircraft Type
	  	 Delivery Date

	[*****]	  	[*****]	  	Jan 2009
	[*****]	  	[*****]	  	Feb 2009
	[*****]	  	[*****]	  	Dec 2008
	[*****]	  	[*****]	  	Feb 2009
	[*****]	  	[*****]	  	Feb 2009
	[*****]	  	[*****]	  	May 2009
	[*****]	  	[*****]	  	May 2009
	[*****]	  	[*****]	  	Jun 2009
	[*****]	  	[*****]	  	Oct 2009
	[*****]	  	[*****]	  	Jan 2010
	[*****]	  	[*****]	  	Feb 2010
	[*****]	  	[*****]	  	Apr 2010
	[*****]	  	[*****]	  	May 2010
	[*****]	  	[*****]	  	Jun 2010
	[*****]	  	[*****]	  	Jul 2010
	[*****]	  	[*****]	  	Aug 2010
	[*****]	  	[*****]	  	Oct 2010
	[*****]	  	[*****]	  	Nov 2010
	[*****]	  	[*****]	  	Jan 2011
	[*****]	  	[*****]	  	Feb 2011
	[*****]	  	[*****]	  	Mar 2011
	[*****]	  	[*****]	  	Apr 2011
	[*****]	  	[*****]	  	May 2011
	[*****]	  	[*****]	  	May 2011
	[*****]	  	[*****]	  	Jun 2011
	[*****]	  	[*****]	  	Jul 2011
	[*****]	  	[*****]	  	Aug 2011
	[*****]	  	[*****]	  	Sep 2011
	[*****]	  	[*****]	  	Oct 2011
	[*****]	  	[*****]	  	Nov 2011
	[*****]	  	[*****]	  	Dec 2011
	[*****]	  	[*****]	  	Jan 2012
	[*****]	  	[*****]	  	Feb 2012
	[*****]	  	[*****]	  	Mar 2012
	[*****]	  	[*****]	  	Apr 2012
	[*****]	  	[*****]	  	May 2012

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 20 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 [*****] Spare Engine Delivery Schedule 

 

					
	 Spare Engine Qty.
	  	 Engine Type
	  	 Delivery Date

	[*****]	  	[*****]	  	Feb 2009
	[*****]	  	[*****]	  	June 2009
	[*****]	  	[*****]	  	Oct 2009
	[*****]	  	[*****]	  	July 2010
	[*****]	  	[*****]	  	May 2011
	[*****]	  	[*****]	  	Dec 2011
	[*****]	  	[*****]	  	May 2012

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 21 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT C: RATE ADJUSTMENT 

The Rate Per EFH will be adjusted for fluctuation of the economy as described below: 

Year of Operation (“YO”) will be identified as a given year of calendar operation. The prices for any YO will be adjusted in accordance with the
following formula: 
 [*****] 
  

			
	Where:	  	[*****]
	
	Composite Index YO = [*****]
	
	Labor Index YO = [*****]
		
	Where:	  	YO-1 = Year prior to YO
		  	BY = Base Year, which will be [*****]
		  	BY-1 = Year prior to BY

 The calculation of Pn for any YO will be made effective January 1 of the YO. 

Labor Index = the twelve (12) point weighted average of ECI 336411W” Labor Index (North American Industrial Classification System (NAICS) Code
336411, (BLS code: CIU2023211000000I), base month and year December [*****] = 100), as published by the Bureau of Labor Statistics, U.S. Department of Labor, rounded to the second decimal place, for the twelve (12) month period ending on the
last day of June of each year. Should the U.S. Department of Labor revise the methodology used for the determination of the values to be used to determine this index, cease publishing this index, or for any reason has not released values needed to
determine the applicable price adjustment, GE will select a substitute for such values from data published by the Bureau of Labor Statistics or other similar data reported by non governmental United States organizations. Appropriate revisions of the
formula will be made as required to reflect any substitute values.  
 Spare Parts Index YO = the compounded percentage price change from the BY to
the YO, calculated using the annual average price changes published by GE for the CF34-10 Spare Parts Price Catalog, and rounded to the first decimal place. For example, and for illustrative purposes only, if the YO were 2001, and the published
average Spare Parts Catalog price changes were an increase of [*****] Spare Parts Catalog, an increase of [*****] Spare Parts Catalog, and an increase of [*****] Spare Parts Catalog, the Spare Parts Index YO would be [*****] calculated as follows:
[*****]. 
 All Rates are also subject to economic price adjustments on January 1 of each year based upon the cumulative change in these indices with
weightings as shown: For cumulative changes in the Composite Index set forth below less than or equal to [*****], the Rate Per EFH will be adjusted by the cumulative percentage change in the composite index. For cumulative changes in the Composite
Index set forth greater than [*****], but less than or equal to [*****] the Rate Per EFH will be adjusted by [*****]. However, on an annual basis, for changes in the Composite Index greater than [*****], the Rate Per EFH will be adjusted by [*****],
plus [*****] of the changes greater than [*****]. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 22 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT D: PRICE ADJUSTMENT MATRIX 

When the actual operating parameters do not precisely equal the values on the tables, severity will be calculated by [*****] The resultant severity value
[*****] The final severity applied will be [*****] 
 Should Customer’s actual operating parameters go beyond the furthest points of the table
provided, GE shall adjust the table to cover Customer’s updated operating parameters. Such adjusted table will be applied retroactively to the time Customer’s operating parameters moved beyond the points provided and, if applicable, GE
shall invoice or provide a credit to Customer for any amounts that would have been applicable if the rates on such table had been in effect at the time the flight hours were incurred. 

[*****] 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 23 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT E: SUPPLEMENTAL WORK PRICING 

 

	1.	Direct Labor Charges at the DRS: Charged in accordance with the Fixed Price Labor set forth in Exhibit G. 

  

	2.	All Other Labor Charges Not Specified in Exhibit G 

 [*****] per labor hour 

 

	3.	Charges For Parts and Material (GE furnished, unless stated otherwise) 

  

							
	 Type Of Material
	 	 Price
	 	 Handling Fee
	  	 
				
	New Parts (Including LL	 	CLP	 	        [*****]	  	
				
	Rotable Parts	 	Price of the repair when applicable	 	        [*****]	  	
				
	Customer Furnished Equipment	 	Not Applicable	 	        [*****]	  	
				
	 Type Of Material
	 	 Price
	 	 Handling Fee
	  	 
				
	Used Serviceable Parts	 	[*****] of CLP	 	[*****] CLP	  	
				
	Subcontracted Services	 	Subcontractor Invoice	 	[*****] of Invoice	  	

  

	4.	Component And Accessories Repair: 

 Per GE Component Repair Directory or Accessory Repair
Catalog pricing in effect at time of repair. 
  

	5.	Test Cell Usage Charges 

 [*****] per test, plus labor, fuel, oil and other material 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 24 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT F: SUPPLEMENTAL WORK PRICING – ANNUAL ADJUSTMENT 

 

	1.	Basis: 

 All prices are stated in [*****] United States Dollars and are effective through [*****] 

 

	2.	Escalation of Hourly Labor Rates, Fixed Price Labor Charges and Test Cell Usage Charges: 

 On
[*****] and every [*****] of successive years, hourly labor rates, fixed price labor charges and test cell usage charges set forth in the following pricing schedules will be adjusted by an amount [*****] in the 12 point weighted average of the
“Employment Cost Index for Workers in Aerospace Manufacturing” (North American Industrial Classification System (NAICS) Code 336411(BLS code: CIU2023211000000I)) as released by the US Department of Labor, Bureau of Labor Statistics for the
twelve (12) month period ending 31 June of the prior year as compared to the average of the twelve (12) month period ending 31 June of one (1) year previous; provided however, that any [*****] which is less than zero
(0) will, for purposes of this Agreement, be deemed equal to zero (0). Should the U.S. Department of Labor revise the methodology used for the determination of the values to be used to determine this index, cease publishing this index, or for
any reason has not released values needed to determine the applicable price adjustment, the parties will agree on selection of a substitute for such values from data published by the Bureau of Labor Statistics or other similar data reported by non
governmental United States organizations. Appropriate revisions of the formula will be made as required to reflect any substitute values. Each such increase will be effective as to Services performed on or after the relevant change date. 

 

	3.	Escalation of Maximum Charge for Handling Fees 

 GE reserves the right to increase maximum
charge for the Handling Fees set forth in the preceding schedules by values [*****] in the aggregate CLP; provided however, that any [*****] which is less than zero (0) will, for purposes of this Agreement, be deemed equal to zero (0). Each
such increase will be effective as to Services performed on or after the relevant change date. For the avoidance of any doubt, the percentage will not be subject to escalation but only the maximum amount. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 25 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT G: SUPPLEMENTAL WORK PRICING – FIXED PRICE LABOR SCHEDULE
- 
 [*****] 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 26 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT H: SUPPLEMENTAL ON-WING SUPPORT 

SERVICES 
 GE On Wing Support, Inc., will provide on wing
support technicians, along with special tooling, to perform flight-line services, on wing and off wing inspection, maintenance, and repair of Engines as specified in a mutually executed work order by Customer. Such Engine support services may be
provided, as designated by Customer and agreed by GE at Customer’s facilities or at repair facilities owned by GE On Wing Support, Inc. or its affiliates. All Services provided shall be in accordance with its standard commercial quality control
policies, procedures, and practices. A turn-time estimate for each workscope for acceptance by Customer prior to beginning of Services will be provided. 

FIXED WORKSCOPE PRICING 
 Fixed
Prices for Workscopes provided by GE On Wing Support, Inc. include the labor charges involved in preparation and execution of the workscope requiring normal manpower and tooling in normal work conditions. It does not include consumables or other
charges that may be applicable. Prices are stated in year [*****] U.S. Dollars and will remain in effect for the noted calendar year. After the initial term, GE On Wing Support will quote its Current list prices. 

 

					
	 CF34-10 Fixed Workscope Pricing
	  	 	 
	 	  	[*****]	 
	 Replacement of:
	  			
	 Accessory Gearbox
	  	 	[*****	] 
	 Transfer Gearbox
	  	 	[*****	] 
	 Fan Blade Change and Lubrication (Same Set)
	  	 	[*****	] 
	 Fan Blade Change and Lubrication (Change Set & Verify Balance)
	  	 	[*****	] 
	 LPT
	  	 	[*****	] 
	 LPT + HPT
	  	 	[*****	] 
	 Fuel Nozzles (Full Set - Off Wing)
	  	 	[*****	] 
	 Fuel Nozzles (Full Set - On Wing)
	  	 	[*****	] 
		
	 Borescopes:
	  			
	 Complete
	  	 	[*****	] 
	 Complete + Vídeo
	  	 	[*****	] 
	 Hot Section (HPT, Stg 1 Nozzles & Combustor)
	  	 	[*****	] 
	 Borescope Blending - Off Wing Only (per day)
	  	 	[*****	] 
		
	 Other Workscopes:
	  			
	 Engine Change
	  	 	[*****	] 
	 Engine Change with [*****] Swap
	  	 	[*****	] 
	 Powerplant [*****] Builds
	  	 	[*****	] 
	 Top Case
	  	 	[*****	] 
	 Top case + bottom case
	  	 	[*****	] 
	 VSV Dynamic Rig Check
	  	 	[*****	] 
	 Static Rig Check VSV/VBV system
	  	 	[*****	] 
	 Fan Trim balance
	  	 	[*****	] 
	 Fan Case Abradable Grind
	  	 	[*****	] 
	 ECU Software Upgrades
	  	 	[*****	] 
	 Engine Receiving/Prep-To-Ship
	  	 	[*****	] 
	 Engine Preservation
	  	 	[*****	] 

 Other pricing applicable for Engine maintenance provided by GE On Wing Support, Inc 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 27 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
  

	A.	Workscope Pricing and Deployment 

  

	 	1)	If additional workscopes not listed in the fixed price workscope schedule are required, they will be priced and quoted prior to beginning of work. The fixed rate workscope schedule pricing covers all technician repair
activity, preparation and deprep requiring normal manpower and tooling in normal work conditions. Reasonable additional charges may apply for unusual engine or work conditions. 

 

	 	2)	For Services performed at a location other than a station owned by GE On Wing Support, Inc. at the direction of Customer, the following deployment charges may be accessed unless a fixed price is agreed for a specific
deployment: 

  

	 	a)	Travel time for domestic travel from a GE On Wing Support site will be invoiced at the rate of [*****] per technician per day. Additional charges will apply for international deployments. 

 

	 	b)	Travel and living expenses will be charged at actual price, plus a [*****] administrative fee. Miscellaneous expenses may be charged at a reasonable per diem rate. 

 

	 	c)	Charges for shipping tooling to job site will be billed at [*****] cost. 

  

	 	3)	Should a delay outside the control of GE On Wing Support, Inc occur which results in technician idle time necessitating an additional unplanned overnight stay, Customer may be charged [*****] per day per technician in
addition to the applicable travel and living costs. 

  

	 	4)	Engine Unloading/Loading/Prep-To-Ship Fee is applicable to all engines that must be unloaded and prepped for shipment by OWS. 

  

	 	5)	For deployment requested within [*****] hours of initial contact or [*****], an expedite fee of [*****] of the total invoice will be applied. 

 

	 	6)	Parts ordered for agreed workscope will be per standard Unit Pack Quantity (UPQ); parts not consumed as part of the agreed workscope will be turned over to Customer. 

 

	 	7)	When GE OWS agrees to deploy technicians to facilities designated by Customer, it may, at its option, make arrangements to provide security for its and its affiliates’ employees to the extent it views it necessary
to meet a potential security threat or situation. Customer agrees to bear all reasonable additional cost for security arrangements. 

  

	B.	Material and Subcontractor 

 GE On Wing Support, Inc. furnished material or subcontracted
services required for Services performed on Customer’s Equipment at the direction of Customer shall be charged at acquisition cost plus a [*****] fee with a maximum of [*****] per line item. 

 

	C.	Supplemental OWS Labor Hourly Billing 

 Direct labor for services performed is [*****].

 Customer will be entitled to use any remaining OWS hour as per article 3.5 herein towards any of the supplemental OWS invoice. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 28 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT I: LINE REPLACEABLE UNITS 

The following list contains [*****] that are [*****] during a Rate Per EFH Shop Visit in accordance with Article 3.1(e). 

[*****] 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT J: GENERAL TERMS AND CONDITIONS 

 

	1.0	LIMITATION OF LIABILITY AND INDEMNIFICATION 

 1.1 Total Liability. The total liability of GE for
any and all claims, whether in contract, warranty, tort (including negligence but excluding willful misconduct and gross negligence), product liability, patent infringement or otherwise, for any damages arising out of, connected with or resulting
from the performance or non-performance of any Service or from the manufacture, sale, Redelivery, resale, repair, overhaul, replacement or use of the Engine or any item or part thereof, will not exceed the price allocable to the repaired or
overhauled item, part or Service which gives rise to the claim. Notwithstanding the foregoing, in no event will GE have any liability hereunder, whether as a result of breach of contract, warranty, tort (including negligence but excluding willful
misconduct and gross negligence), product liability, or otherwise, for any special, consequential, incidental, resultant or indirect damages, (including, without limitation, loss of: use, profit, revenue or goodwill) or punitive or exemplary
damages. 
 In no event will GE have any liability hereunder, whether as a result of breach of contract, warranty, tort (including negligence), product
liability, patent liability, or otherwise, for the design, material, workmanship, engineering defects or product liability and any damages whatsoever, including damages to personal property and for personal injury or death, caused in any way by the
manufacturer of an Engine, or the parts, LRU’s, components or material, thereof, or related thereto. 
 In the event Customer uses non-GE parts or
non-GE approved LRU’s, parts or repairs in an Engine and such LRU’s, parts or repairs cause personal injury, death or property damage to third parties, Customer shall indemnify and hold harmless GE from all claims and liabilities
associated therewith. The preceding indemnity shall apply whether or not GE was provided a right under this Agreement to remove such LRU’s, parts or repairs, and irrespective of the exercise by GE of such right. 

The limitation of liability contained in this Article 1.1 shall not apply to any liability on the part of GE in connection with third party claims, in respect
to death or personal injury, alleging in whole or in part, the actual negligence of GE in workmanship. 
 1.2 Definition. For the purpose of this
Article 1, the term “GE” is deemed to include GE and its parent and affiliated companies, the subcontractors and suppliers of any Services furnished hereunder, and the directors, officers, employees, agents and representatives of each.

  

	2.0	EXCUSABLE DELAY 

 2.1 Excusable Delay. Either Party will be excused from, and will not be liable
for, any delay in performance or failure to perform hereunder (except for the obligation to pay money or credit or debit an account which will not be excused hereunder), and will not be deemed to be in default for any delay in or failure of
performance hereunder due to causes beyond its reasonable control. Such causes will be conclusively deemed to include, but not be limited to acts of God, fire, terrorism, war (declared or undeclared), severe weather conditions, earthquakes,
epidemics, material shortages, insurrection, acts or omissions of the other Party, any act or omission by any governmental authority, strikes, labor disputes, acts or threats of vandalism or terrorism (including disruption of technology resources),
or transportation shortages (each an “Excusable Delay”). [*****] 
 2.2 Continuing Obligations. Section 2.1 will not, however, relieve
either Party from using its best commercial efforts to avoid or remove such causes of delay and continue performance with reasonable dispatch when such causes are removed. During the period of an excusable delay, GE will have the right to invoice
Customer for Services performed, and Customer will pay all such invoices net thirty (30) Days. 
 2.3 Extended Delay Termination. If delay
resulting from any of the foregoing causes extends for more than [*****] and the Parties have not agreed upon a revised basis for continuing the Services, including any adjustment of the price, then either Party, upon sixty (60) Days written
notice to the other, may terminate the performance of Services with respect to the Engine for which Services were delayed. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

	3.0	NOTICES 

 3.1 Acknowledgment. All notices required or permitted under this Agreement will be in
writing and will be delivered personally, via first class return receipt requested mail, by facsimile, by courier service, or by express mail, addressed as follows, or to such other address as either Party may designate in writing to the other Party
from time to time: 
  

									
	GE Engine Services, Inc.	 		  	Azul Linhas Aereas Brasileiras
			
	  
	 		  	  

	  
	 		  	  

	Attn:	 	  
	 		  	Attn:	  	  

					
	Phone:	 	  
	 		  	Phone:	  	  

	Fax:	 	  
	 		  	Fax:	  	  

			
	Copy to:	 		  	Copy to:
	Senior Counsel, GE Engine Services Inc.	 		  	  

	MD F-125, Cincinnati, Ohio 45215	 		  	  

				
	GE Celma Ltda.	 		  		  	
				
	  
	 		  		  	
	Attn:	 	  
	 		  		  	
					
	Phone:	 	  
	 		  		  	
	Fax:	 	  
	 		  		  	
				
	Copy to:	 		  		  	
	Senior Counsel, GE Engine Services Inc.	 		  		  	
	MD F-125, Cincinnati, Ohio 45215	 		  		  	

 3.2 Effect of Notices. Notices will be effective and will be deemed to have been given to (or “received by”)
the recipient: (A) upon delivery, if sent by courier, express mail, or delivered personally; (B) on the next business day following receipt, if sent by facsimile; or (C) on the fifth (5th) day after posting (or on actual receipt,
if earlier) in the case of a letter sent prepaid first class mail. 
  

	4.0	TAXES AND OTHER: 

 4.1 Taxes, Duties or Charges. In addition to the price for the Services and
save otherwise as expressly provided in this Agreement, Customer will pay to the appropriate authority or to GE, as applicable, upon demand, any Federal, State, Municipal, local or foreign taxes (including sales, use, ad valorem, excise, turnover or
value added taxes), duties, fees, charges, imposts, tariffs, tax on circulation or transfer or assessments of any nature (but excluding taxes assessed on the income, profits or gains) as in force today or created, altered, or otherwise introduced in
the future (“Taxes”), assessed or levied in connection with GE’s performance under this Agreement. For avoidance of doubt and purpose of illustration, any and all Taxes incurred by GE in fulfilling responsibilities under this
Agreement (including, but not limited to, Contribuição de Intervenção no Domínio Econômico (“CIDE”) and ISSQN (tax on services of any nature) (if applicable) borne upon payment to
non-Brazilian service providers) shall be added to Customer’s invoice as a separate line item(s) in addition to the amount calculated pursuant to Article 6, “Invoicing and Payment” of this Agreement. 

4.2 Right To Protest/Refund. If claim is made against GE for any such Taxes, GE will immediately notify Customer and, if requested by Customer, GE will
not pay except under protest, and if payment be made, GE will use all reasonable efforts to obtain a refund thereof. If all or any part of any such Taxes be refunded, GE will repay to Customer such part thereof as Customer will have paid. Customer
will pay to GE, upon demand, all expenses (including penalties, interest and attorney’s fees) incurred by GE in protesting payment and in endeavoring to obtain such refund. 

4.3 Withholdings. All payments by Customer to GE under this Agreement will be free of all withholdings of any nature whatsoever except to the extent
otherwise required by law, and if any such withholding is so required, Customer will pay an additional amount such that after the deduction of all amounts required to be withheld, the net amount received by GE will equal the amount that GE would
have received if such withholding had not been required. 
 
  

	5.0	DISPUTE RESOLUTION, ARBITRATION 

 5.1 Dispute Resolution. If any dispute arises relating to this
Agreement, the Parties will endeavor to resolve the dispute amicably, including by designating senior managers who will meet and use commercially reasonable efforts to resolve any such dispute. If the Parties’ senior managers do not resolve the
dispute within sixty (60) days of first written request, either party may request that the dispute be settled and finally determined by binding arbitration, in accordance with the Commercial Arbitration Rules of the American Arbitration
Association in New York, New York, three (3) arbitrators appointed in accordance with the American Arbitration Association Rules. Each of GE and Airline shall select one arbitrator and the two arbitrators so selected will select the third
arbitrator. If the two arbitrators fail to reach agreement on the selection of third arbitrator within thirty (30) days, then such third arbitrator shall be appointed by the International Court of Arbitration of the International Chamber of
Commerce (“ICC”). The arbitrator(s) will have no authority to award punitive damages, attorney’s fees and related costs or any other damages not measured by the prevailing party’s actual damages, and may not, in any event, make
any ruling, finding or award that does not conform to the terms and conditions of the Agreement and applicable law. The award of the arbitrator(s) will be final, binding and non-appealable, and judgment may be entered thereon in any court of
competent jurisdiction. All statements made or materials produced in connection with this dispute resolution process and arbitration are confidential and will not be disclosed to any third party except as required by law or subpoena. The Parties
intend that the dispute resolution process set forth in this Article will be their exclusive remedy for any dispute arising under or relating to this Agreement or its subject matter. 

5.2 Exception. Either party may at any time, without inconsistency with this Article, seek from a court of competent jurisdiction any equitable,
interim, or provisional relief to avoid irreparable harm or injury. This Article will not apply to and will not bar litigation regarding claims related to a party’s proprietary or intellectual property rights, nor will this Article be construed
to modify or displace the ability of the Parties to effectuate any termination contemplated in Article 12 of the Agreement. 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
  

	6.0	NONDISCLOSURE OF PROPRIETARY DATA 

 6.1 Non-Disclosure. Unless the Parties otherwise agree in
writing, any knowledge, information or data which the Parties have or may disclose to each other shall be held in confidence and may not be either disclosed or used for any purpose, except that GE may disclose the same to its affiliates,
subsidiaries, joint venture participants, engineering service provider, or consultants as needed to perform the Services provided under this Agreement. The preceding clause will not apply to information which (1) is or becomes part of the
general public knowledge or literature otherwise than as a result of breach of any confidentiality obligation to GE, or (2) was, as shown by written records, known to the receiving party prior to receipt from the disclosing party. 

6.2 Intellectual Property. Nothing contained in this Agreement will convey to either Party the right to use the trademarks of the other, or convey or
grant to Customer any license under any patent owned or controlled by GE. 
  

	7.0	PATENTS 

 7.1 Claims. GE will handle all claims and defend any suit or proceeding brought against
Customer insofar as based on a claim that, without further combination, any material or process used in the repair of any items furnished under this Agreement constitutes an infringement of any patent or copyright of the U.S. This Section 7.1
will apply only to the extent that such material or process is so used to GE’s specification. 
 7.2 Liability. GE’s liability under this
Article 7 is expressly conditioned upon Customer promptly notifying GE in writing and giving GE exclusive authority, information and assistance (at GE expense) for the handling, defense or settlement of any claim, suit or proceeding. In case such
material or process is held in such suit to constitute infringement and the use of said material or process is enjoined, GE will, at GE’s own expense and at GE’s option, either, (1) settle or defend such claim or suit or proceeding
arising therefrom, or (2) procure for Customer the right to continue using said material or process in the item repaired under this Agreement, or (3) replace or modify such item with an item incorporating non-infringing material or
process, or (4) refund the repair price applicable to such material or process. 
 7.3 Indemnification. The preceding Section 7.2 will not
apply: (1) to any material or process or part thereof of Customer design or specification, or used at Customer’s direction in any repair under this Agreement, or (2) to the use of any material or process furnished under this Agreement
in conjunction with any other apparatus, article, material or process. As to any material or process or use described in the preceding sentence, GE assumes no liability whatsoever for patent or copyright infringement, and Customer will, in the same
manner as GE is obligated to Customer above, indemnify, defend and hold GE harmless from and against any claim or liability, including costs and expense in defending any such claim or liability in respect thereto. 

7.4 Remedy. THE FOREGOING WILL CONSTITUTE CUSTOMER’S SOLE REMEDY AND GE’S SOLE LIABILITY FOR PATENT OR COPYRIGHT INFRINGEMENT BY ANY MATERIAL
OR PROCESS AND IS SUBJECT TO THE LIMITATION OF LIABILITY SET FORTH IN ARTICLE 1, “LIMITATION OF LIABILITY.” THE PATENT WARRANTY OBLIGATIONS RECITED ABOVE ARE IN LIEU OF ALL OTHER PATENT WARRANTIES WHATSOEVER, WHETHER ORAL, WRITTEN,
EXPRESSED, IMPLIED OR STATUTORY (INCLUDING ANY WARRANTY OF MERCHANTABILITY AND FITNESS FOR PARTICULAR PURPOSE OR ANY IMPLIED WARRANTY ARISING FROM COURSE OF DEALING, COURSE OF PERFORMANCE, OR USAGE OF TRADE). 

 

	8.0	[*****] 

 8.1 [*****] Customer hereby [*****] to GE a [*****] in the [*****] GE or any of GE’s affiliates
at any time [*****], to secure all amounts owed by Customer to GE hereunder, and GE will have all [*****] under the Uniform Commercial Code and applicable law with respect to such property. Customer consents to [*****] and similar instruments
necessary to perfect GE’s security interests as required by the UCC, Federal Aviation Administration, and applicable law. Customer will also exert commercially reasonable efforts to obtain from [*****] as the case may be, of a [*****], which
[*****] will be subordinate to prior [*****] granted by Customer to third parties, in any other property in the [*****] or any of GE’s affiliates at any time [*****] Customer to GE hereunder, and GE will have [*****] and applicable law with
respect to [*****]. Customer will promptly execute and deliver all documentation, as reasonably requested by GE, [*****] and any other statutory [*****] applicable law. Customer shall not [*****] in Engines that are [*****] to those of GE without
GE’s prior written consent. 
 8.1.1 In the event Customer becomes delinquent in making payments under this Agreement, except for payments which are
the subject of a good faith dispute, GE [*****] under this Agreement until all payments due in exchange for the respective Services provided and spare parts and components furnished in connection therewith are fully paid. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 For the purpose of this provision, GE shall be considered as bailee of those Engines and
the Customer as bailor, and the value of the Customer’s corresponding debt to GE shall be the bailment consideration referred to in Article 644 of the Civil Code. Customer shall reimburse GE for all costs and expenses incurred by GE with the
maintenance of the Engines retained in accordance with the terms set forth in this Agreement, which may be strictly necessary to avoid the deterioration of the aforesaid Engines until the full payment of the overdue payments. 

8.2 [*****]. Customer: (i) acknowledges that GE has the [*****] under applicable law (foreign or domestic) against [*****] and (ii) agrees to supply
such information, including name and address [*****] as reasonably requested by GE to facilitate filing of such [*****] in New York or any other jurisdiction where Services may be performed. With respect to Engines leased by Customer, GE understands
that Customer has been [*****] GE may, at its option, notify [*****] and [*****] 
 8.3 [*****] If Customer fails to [*****] under this Agreement and GE
[*****] whether pursuant to a [*****] under this Agreement or a [*****], then Customer [*****] and a [*****] either (i) certifying that the Engine has not been involved in any Aircraft Accident or Incident or (ii) specifying the date and
facts surrounding any Accident or Incident in which the Engine has been involved and the nature and extent of the damage sustained (such records, log books, certificate and other documentation referred to hereinafter as the “Engine
Documents”). The Parties recognize that the failure by Customer to [*****] may have a material, adverse effect on the value of any Engine with respect to which [*****] and the [*****], and that the [*****] GE may sustain as a result are not
readily calculable. 
  

	9.0	GENERAL PROVISIONS 

 9.1 Assignment. This Agreement, any related purchase order or any rights or
obligations hereunder may not be assigned without the prior written consent of the other Party, except that Customer’s consent will not be required for an assignment by GE to one of GE’s affiliates. In the event of any such substitution,
Customer will be so advised in writing. Any assignment in contradiction of this clause will be considered null and void. 
 9.2 Governing Law, Waiver of
Immunity. The Agreement will be interpreted and applied in accordance with the substantive laws of the State of New York, without giving effect to its choice of law or conflict of law provisions, rules or procedures (except to the extent that
the validity, perfection or creation of any lien or security interest hereunder and the exercise of rights or remedies with respect of such lien or security interest for a particular item of equipment are governed by the laws of a jurisdiction other
than New York). With respect to any Customer who is incorporated or based outside the United States, to the extent that such Customer or any of its property becomes entitled at any time to any immunity on the grounds of sovereignty or otherwise from
any legal action, suit or proceeding of any nature, Customer hereby irrevocably waives the application of such immunity and particularly, the U.S. Foreign Sovereign Immunities Act, 28 U.S.C. 1602, et. seq., insofar as such immunity relates to
Customer’s rights and obligations in connection with this Agreement. 
 9.3 Savings Clause. If any portion of this Agreement will be determined
to be a violation of or contrary to any controlling law, rule or regulation issued by a court of competent jurisdiction, then that portion will be unenforceable in such jurisdiction. However, the balance of this Agreement will remain in full force
and effect. 
 9.4 Beneficiaries. Except as herein expressly provided to the contrary, the provisions of this Agreement are for the Parties’
mutual benefit and not for the benefit of any third party. 
 9.5 Controlling Language. The English language will be used in the interpretation and
performance of this Agreement. All correspondence and documentation arising out of or connected with this Agreement and any related purchase order(s), including Engine records and Engine logs, will be in the English language. 

9.6 Non-Waiver of Rights and Remedies. Any failure or delay in the exercise of rights or remedies hereunder will not operate to waive or impair such
rights or remedies. Any waiver given will not be construed to require future or further waivers. 
 9.7 Titles/Subtitles. The titles and subtitles
given to the sections of the Agreement are for convenience. They do not limit or restrict the context of the article or section to which they relate. 
 9.8
Currency Judgment. This is an international transaction in which the specification of United States Dollars is of the essence. No payments required to be made under this Agreement will be discharged by payments in any currency other than
United States Dollars, whether pursuant to a judgment, arbitration award or otherwise. 
 

9.9 No Agency Fees. Customer represents and warrants that no officer, employee, representative or agent of Customer has been or will be paid a fee or
otherwise has received or will receive any personal compensation or consideration by or from GE in connection with the obtaining, arranging or negotiation of this Agreement or other documents entered into or executed in connection herewith. 

9.10 On-Site Representative. Subject to the following conditions, GE agrees to permit one Designated Representative, from time to time during the term
of this Agreement, to enter onto its premises at the Designated Repair Station for the purpose of supporting 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 
the Services on Engines. GE will furnish such Designated Representative the use of a non-exclusive workspace, including the use of a local telephone line, internet access and parking
accommodations. Costs incurred by such Designated Representative, including long distance telephone charges, fax or computer charges will be the responsibility of Customer, and if charged to GE in the first instance, will be invoiced to Customer. GE
will provide ground transportation from nearest major international airport to DRS for a maximum of [*****] trips each quarter. 
 9.11 No Agency.
Nothing in this Agreement will be interpreted or construed to create a partnership, agency or joint venture between GE and Customer. 
 9.12 Entire
Agreement. This Agreement, together with its Exhibits, contains and constitutes the entire understanding and agreement between the Parties hereto respecting the subject matter hereof, and supersedes and cancels all previous negotiations,
agreements, representations and writings in connection herewith. This Agreement may not be released, discharged, abandoned, supplemented, modified or waived, in whole or in part, in any manner, orally or otherwise, except by a writing of concurrent
or subsequent date signed and delivered by a duly authorized officer or representative of each of the Parties hereto making specific reference to this Agreement and the provisions hereof being released, discharged, abandoned, supplemented, modified
or waived. 
 9.13 Counterparts. This Agreement may be executed in one or more counterparts, all of which counterparts will be treated as the same
binding agreement, which will be effective as of the date set forth on the first page hereof, upon execution and delivery by each Party hereto to the other Party of one or more such counterparts. 

9.14 Governmental Authorization. Customer will be the importer and/or exporter of record and will be responsible for timely obtaining any import
license, export license, exchange permit or other required governmental authorization relating to the Engine. At Customer’s request and expense, GE will assist Customer in its application for any required U.S. export licenses. GE will not be
liable if any authorization is not renewed or is delayed, denied, revoked or restricted, and Customer will not thereby be relieved of its obligation to pay for Services performed by GE. All transported Engines will be subject to the U.S. Export
Administration Regulations and/or International Traffic in Arms Regulations. Customer agrees not to dispose of U.S. origin items provided by GE other than in and to the country of ultimate destination and/or as identified in an approved government
license or authorization, except as said laws and regulations may permit. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

 EXHIBIT K: WARRANTY AND GUARANTEE ASSIGNMENT LETTER 

(Customer Letterhead) 
 (Date) 

(Name and Address of Original Engine Manufacturer) 
 Attn: 

 

	Re:	Assignment of Third Party Warranty and Guarantees 

 Dear (Sir/Madam): 

(Customer) and the (Original Engine Manufacturer) entered into Agreement Number          dated
            , 20    , wherein (Customer) agreed to purchase a specified number of          aircraft engines and (Original Engine
Manufacturer) agreed to provide certain warranties and guarantees with regard to said engines to (Customer). 
 (Customer) and GE Engine Services, Inc. have
entered into a separate engine maintenance agreement Number          dated              20    , (“Maintenance
Agreement”) for the maintenance, repair and overhaul of said engines. The Maintenance Agreement specifies that (Customer) shall, during the term of the Agreement, assign to GE Engine Services, Inc. the benefit of all warranties and guarantees
applicable to the engines covered by the Maintenance Agreement. 
 This letter serves as official notification: 1) to (Original Engine Manufacturer) of
Customer’s assignment of the applicable warranties and guarantees under the engine purchase agreement; and 2) to GE Engine Services, Inc. of (Customer)’s fulfillment of this obligation under the Maintenance Agreement. 

The following warranties and guarantees are hereby assigned to GE. 
  

	 	•	 	New Engine Warranty 

  

	 	•	 	New Parts Warranty 

  

	 	•	 	Ultimate Life Warranty 

  

	 	•	 	Campaign Change Warranty 

  

	 	•	 	Shop Visit Rate Guarantee 

  

	 	•	 	Extended Campaign Change Guarantee 

  

	 	•	 	Exhaust Gas Temperature (“EGT”) Guarantee 

 (Original Engine Manufacturer), please indicate your
concurrence with said assignment by signing in the space provided below and returning a copy of this letter to the undersigned. 
 (Signature Block) 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT L: [*****] DISTRIBUTION SCHEDULE 

Owned Aircraft Cash and Spare Engine [*****] 
  

							
	 [*****]
	  	 Delivery

Date
	  	 [*****]
	  	 [*****]

				
	 [*****]
	  	Jan-10	  	[*****]	  	[*****]
				
	 [*****]
	  	Feb-10	  	[*****]	  	[*****]
				
	 [*****]
	  	Apr-10	  	[*****]	  	[*****]
				
	 [*****]
	  	May-10	  	[*****]	  	[*****]
				
	 [*****]
	  	Jun-10	  	[*****]	  	[*****]
				
	 [*****]
	  	Jul-10	  	[*****]	  	[*****]
				
	 [*****]
	  	Aug-10	  	[*****]	  	[*****]
				
	 [*****]
	  	Oct-10	  	[*****]	  	[*****]
				
	 [*****]
	  	Nov-10	  	[*****]	  	[*****]
				
	 [*****]
	  	Jan-11	  	[*****]	  	[*****]
				
	 [*****]
	  	Feb-11	  	[*****]	  	[*****]
				
	 [*****]
	  	Mar-11	  	[*****]	  	[*****]
				
	 [*****]
	  	Apr-11	  	[*****]	  	[*****]
				
	 [*****]
	  	May-11	  	[*****]	  	[*****]
				
	 [*****]
	  	May-11	  	[*****]	  	[*****]
				
	 [*****]
	  	Jun-11	  	[*****]	  	[*****]
				
	 [*****]
	  	Jul-11	  	[*****]	  	[*****]
				
	 [*****]
	  	Aug-11	  	[*****]	  	[*****]
				
	 [*****]
	  	Sep-i1	  	[*****]	  	[*****]
				
	 [*****]
	  	Oct-11	  	[*****]	  	[*****]
				
	 [*****]
	  	Nov-11	  	[*****]	  	[*****]
				
	 [*****]
	  	Dec-11	  	[*****]	  	[*****]
				
	 [*****]
	  	Jan-12	  	[*****]	  	[*****]
				
	 [*****]
	  	Feb-12	  	[*****]	  	[*****]
				
	 [*****]
	  	Mar-12	  	[*****]	  	[*****]
				
	 [*****]
	  	Apr-12	  	[*****]	  	[*****]
				
	 [*****]
	  	May-12	  	[*****]	  	[*****]
				
	 [*****]
	  		  	[*****]	  	[*****]
				
	 [*****]
	  		  	[*****]	  	[*****]
				
		  	[*****]	  	[*****]	  	[*****]

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
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	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT M: OPTIONAL AIRCRAFT 

Customer shall be entitled to add up to [*****] Engines as per the delivery schedule below following the terms and conditions set forth in this Agreement,
which will be installed in the [*****] optional owned aircraft in accordance with the purchase agreement between the Customer and the aircraft manufacturer. 

The optional aircraft, once added Into the Customer’s existing fleet covered under this Agreement in accordance with the terms set forth herewith will be
entitled to pricing set forth In Article 5.1 through 5.4 of the Agreement provided it comply with Rate Per EFH Operational Parameters set forth in Article 5.2 and in compliance with the terms and conditions set forth in this Exhibit. Pricing will be
escalated in accordance with escalation formula set forth on Exhibit C; provided. however, that It shall not be subject to any escalation cap until the date aircraft is delivered as per contractual delivery dates listed below, and as from such
delivery date it shall be subject to a [*****] escalation cap with a Hyper-out of [*****] during the entire Term of the Agreement: provided; further, that Customer takes delivery of each such optional aircraft within [*****] of such delivery dates.
The term of this Agreement shall be [*****] for each of such optional owned aircraft. 
 In case of any change of the delivery dates (plus or minus [*****])
set forth herein below, GE will evaluate the effect on the Rate Per EFH taking into consideration effects on the fleet size and other commercial considerations and may adjust the Rate Per EFH accordingly. The adjusted Rate Per EFH will be
incorporated into the Agreement by way or amendment and Customer will pay the adjusted Rate Per EFH for all the EFH incurred by the optional aircraft engines and Leased aircraft engines identified in Exhibit M and N from the date each of such Engine
enters the Agreement. 
 The optional aircraft, once added to the Customer’s fleet and accepted by GE to be included in this Agreement shall be
entitled to a [*****] of [*****] per aircraft [*****]. Such [*****] will be available to Customer in 04 consecutive annual installments or [*****]. The first installment shall be available within [*****] as of the delivery of the aircraft in
accordance with the delivery date. 
 Customer will maintain a spare Engine(s) to installed Engines ratio of not less than [*****] rounded up to the next
whole Engine, during the term of this Agreement. However, GE will work with Customer if the ratio falls slightly less than [*****]. 
 Optional AJC
delivery schedule 
  

							
	 [*****]
	  	 Contractual Delivery Date
	  	 [*****]
	  	 Contractual Delivery Date

	[*****]	  	February 2012	  	[*****]	  	March 2013
	[*****]	  	April 2012	  	[*****]	  	April 2013
	[*****]	  	June 2012	  	[*****]	  	May 2013
	[*****]	  	July 2012	  	[*****]	  	June 2013
	[*****]	  	August 2012	  	[*****]	  	July 2013
	[*****]	  	October 2012	  	[*****]	  	August 2013
	[*****]	  	November 2012	  	[*****]	  	September 2013
	[*****]	  	December 2012	  	[*****]	  	October 2013
	[*****]	  	January 2013	  	[*****]	  	November 2013
	[*****]	  	February 2013	  	[*****]	  	December 2013
				
	 [*****]
	  	 Contractual Delivery Date
	  	 [*****]
	  	 Contractual Delivery Date

	[*****]	  	January 2014	  	[*****]	  	[*****]
	[*****]	  	February 2014	  	[*****]	  	[*****]
	[*****]	  	March 2014	  	[*****]	  	[*****]
	[*****]	  	April 2014	  	[*****]	  	[*****]
	[*****]	  	May 2014	  	[*****]	  	[*****]
	[*****]	  	June 2014	  	[*****]	  	[*****]
	[*****]	  	July 2014	  	[*****]	  	[*****]
	[*****]	  	August 2014	  	[*****]	  	[*****]
	[*****]	  	September 2014	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]

 [*****] shall be issued to the Customer within five (5) Days of Customer written request to GE subsequent to the delivery
dates or the above delivery schedule. Such [*****] amounts are not subject to escalation and are subject to reduction for any change in the operating parameters (including number and delivery dates or Engines) set forth in Article 5.2 that reduces
the Contracted Hours considering the additional Optional Aircraft. Contracted Hours are defined as the Annual Utilization multiplied by number of Engines multiplied by the number or years in the Term. 

The remaining [*****] may only be applied by Customer towards (i) the [*****] of aircraft engine goods and services from GE, up to a maximum or [*****]
including [*****] of spare engines, provided that those engines are incremental to the spare engine delivery schedule identified in Exhibit L. [*****] be available on the delivery dates of such engines. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 37 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 Such [*****] will be issued and valid only if Customer is current in all payments due
and is otherwise not in material breach under this Agreement and any other applicable agreements to which [*****] are to be applied. GE shall be entitled to set off from such [*****] any outstanding obligation and amounts that are due and owing from
Customer to GE (and not subject to a good faith dispute). Customer may carry over any [*****], however. [*****] must be applied by the end of the term of this Agreement. Any [*****] amounts outstanding at the end of the term of the Agreement will be
canceled. 
 If an Engine is removed from the Agreement and has not incurred sufficient EFH to meet the Contracted Hours for that Engine, any remaining
[*****] to be issued shall be reduced and, within thirty (30) Days of such Engine’s removal, Customer shall [*****] to GE [*****] on a pro-rata basis based on EFH incurred and for which GE has received all Rate Per EFH Payments under this
Agreement. By way of example only, if an Engine being removed has Incurred and GE has received all Rate Per EFH Payments for [*****] and the total Contracted Hours for this Engine are [*****], then Customer shall [*****] of the [*****] and paid
against such Engine as determined on a pro-rata basis based on the number of Engines covered by the Agreement. If GE has not received any Rate Per EFH Payments on the removed Engine. Customer shall [*****] of the [*****] allocated and [*****]
against such Engine as determined on a pro-rata basis based on the number of Engines covered by the Agreement. 
 In the event of termination of this
Agreement due to any reason other than the material breach by GE, such [*****] will be cancelled and any amount issued and applied as of the time of termination shall be [*****] to GE by Customer within thirty (30) Days of termination of this
Agreement. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 38 -
	Proprietary Information Subject to Restrictions on Cover Page

 CONFIDENTIAL TREATMENT REQUESTED 

 
 EXHIBIT N: LEASED AIRCRAFT 

Customer shall have the right to add up to [*****] New Engines (Engines having less than or equal to 50 EFH since new) within the next [*****] months [*****]
as of the Commencement Date, as per the delivery schedule set forth herein below, following the terms and conditions set forth in this Agreement, which will be installed in the [*****] additional leased aircraft (besides [*****]). The added New
Engines should not have more than 50EFH since new when delivered to Customer. For the avoidance of any doubt, Parties agree that Used Engines (meaning for the purposes of this Agreement, Engines having more than 50 EFH since new) shall not be
entitled to the terms and conditions set forth in this Exhibit N. 
 The leased aircraft, once added into the Customer’s existing fleet covered under
this Agreement in accordance with the terms set forth herewith shall be entitled to pricing set forth in Article 5.1 through 5.4 of the Agreement provided it follows Rate Per EFH Operational Parameters set forth in Article 5.2 and in compliance with
the terms and conditions set forth in this Exhibit. . Pricing will be escalated in accordance with escalation formula set forth on Exhibit C; provided, however, that it shall not be subject to any escalation cap until the date aircraft is delivered
as per contractual delivery dates listed below, and as from such delivery date it shall be subject to a [*****] escalation cap with a Hyper-out of [*****] during the Term of the Agreement; provided; further, that Customer takes delivery of [*****]
optional aircraft in each of the following years: 2010, 2011 and 2012 as set forth hereinbelow. The term of this Agreement shall be [*****] for each of such New Engines following terms and conditions of the [*****] lease agreements of each such
aircrafts. 
 In case of any change of the delivery dates set forth herein below, GE will evaluate the effect on the Rate Per EFH taking into consideration
effects on the fleet size and other commercial considerations and may adjust the Rate Per EFH accordingly. The adjusted Rate Per EFH will be incorporated into the Agreement by way of amendment and Customer will pay the adjusted Rate Per EFH for all
the EFH incurred by the optional aircraft engines and Leased aircraft engines identified in Exhibit M and N from the date each of such Engine enters the Agreement. 

Customer will maintain a spare Engine(s) to installed Engines ratio of not less than [*****], rounded up to the next whole Engine, during the term of this
Agreement. However, GE will work with Customer if the ratio falls slightly less than [*****]. 
 Leased A/C delivery schedule: 

Customer is entitled to add up to [*****] Leased Aircraft per year. 
  

					
	Aircraft	  	Contractual Delivery Date	  	 
	01	  	November 2009	  	
	02	  	2010 (Specific month to be decided by Customer)	  	
	03	  	2010 (Specific month to be decided by Customer)	  	
	04	  	2010 (Specific month to be decided by Customer)	  	
	05	  	2011 (Specific month to be decided by Customer)	  	
	06	  	2011 (Specific month to be decided by Customer)	  	
	07	  	2011 (Specific month to be decided by Customer)	  	
	08	  	2012 (Specific month to be decided by Customer)	  	
	09	  	2012 (Specific month to be decided by Customer)	  	
	10	  	2012 (Specific month to be decided by Customer)	  	

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Azul Agreement # 1-1373256434	  	September 25, 2009	  	- 39 -
	Proprietary Information Subject to Restrictions on Cover Page

 GE Engine Services, Inc. 

 
 

 
 Amendment Number 1 to 
  

OnPointSM OVERHAUL 

ENGINE SERVICES AGREEMENT 
 Between

 GE Engine Services, Inc. 

And 
 Azul Linhas Aereas
Brasileiras S.A. 
 Agreement Number: 1-1373258434 

Dated: May     , 2010 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, LLC. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express
written consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information
contained in this document. Unauthorized export or re-export is prohibited. 
  

GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  
 Page 1 of 4 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

AMENDMENT NUMBER 1 
 THIS AMENDMENT NUMBER 1
(“Amendment”) is made and is effective as of May     , 2010 (the “Effective Date”) by and between Azul Linhas Aereas Brasileiras S.A., having its principal place of business of Alameda Surubiju no 2010,
Alphaville Industrial, Baruen - SP, CEP 06455 040, Brazil O Brazil (“Customer”) and GE Engine Services, Inc., having its principal place of business of One Neumann Way, Cincinnati, Ohio 45215 and GE Celma Ltda. (“GE Celma”),
having its principal place of business of Rua Alice Herve 356, Petropolis, 25669-900, Brazil (jointly referred to as “GE”) (either a “Party”) or collectively, the “Parties”). 

RECITALS 
 WHEREAS, the Parties
have entered into a OnPointsm Solutions Agreement, Number 1-1373258434 (“Agreement”), doted September 25, 2009, and  

WHEREAS, the Parties desire to amend Section 5.5 and Exhibit L of the Agreement to adjust utilization of [*****] by Customer; and 

 WHEREAS, the Parties desire to amend the Agreement to reflect the foregoing. 

NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions contained herein, and other good and
valuable consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof. 

Capitalized terms used, and terms otherwise defined, in this Amendment shall have the meaning assigned to them under the Agreement. 

1. Section 5.5 of the Agreement is hereby amended to reflect new [*****] language and it shall read as follows: 

“5.5 [*****] GE shall make available to Customer a maximum of [*****] of [*****] These [*****] will be made available to Customer in the
[*****] on the [*****] outlined in Exhibit L attached hereto. 
 [*****] for [*****] totaling [*****] shall be issued to the Customer within
five (5) Days of Customer written request to GE subsequent to the issuance dates identified in the Exhibit L. Such [*****] may only be applied by Customer as follows: 

(1) For [*****] earned in Year 2010, up to [*****] of such total [*****] can be used towards this Agreement or Supplemental Work invoices
issued under this Agreement or ony other purchase of aircraft engine services from GE under a separate OnPoint Overhaul (time and material or component repair only); provided that up to a maximum of [*****] or each invoice amount may be paid with
such [*****]; 
 (2) For [*****] earned from Year [*****]: (i) up to [*****] of such total [*****] con be used towards this Agreement;
provided that up to a maximum of [*****] of each invoice amount may be paid with such [*****]; and (ii) the remaining [*****] of such total [*****] (i.e. [*****]) can be used towards any Supplemental Work invoices issued under this Agreement or
any other purchase of aircraft engine services from GE under a separate OnPoint Overhaul (time and material or component repair only) between Customer and GE for the maintenance or repair of Customers Engines; provided that up to a maximum of
[*****] of each invoice amount may be paid with such [*****]. 
 The remaining [*****] issued [*****] as identified in Exhibit L, [*****]
spare engines above the [*****] firm spare as per Exhibit 8 (Spare Engine Delivery Schedule), at the rate of a maximum of [*****] applied per each additional spare. The availability of this [*****], if the delivery schedule in Exhibit L is brought
forward. 
 Such [*****] will be issued and valid only if Customer is current in all payments due and is otherwise not in material breach
under this Agreement and any other applicable agreements to which [*****] are to be applied. GE shall be entitled to set off from such [*****] any outstanding obligation and amounts that are due and owing from Customer to GE (and not subject to a
good faith dispute). Customer may carry over [*****]; however, [*****] must be applied by the end of the term of this Agreement. Any [*****] amounts outstanding at the end of the term of the Agreement will be canceled. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 2 of 4

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

For [*****] at the earlier of, end of the [*****] aircraft lease term or as of the date Customer returns aircraft to the lessor, Customer shall
return such engine [*****] to the [*****] 
 All [*****] amounts are not subject to escalation and are subject to reduction for any change in
the operating parameters (including number and delivery dates of Engines) set forth in Article 5.2 that reduces the Contracted Hours. Contracted Hours and are defined as the Annual Utilization multiplied by number of Engines multiplied by the number
of years in the Term. 
 2. Exhibit L ([*****] Distribution Schedule) of the Agreement is hereby replaced in its entirety and it shall read
as follows: 
  

							
	 [*****]
	  	 [*****]
	  	 [*****]
	  	 
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  		  	
	[*****]	  	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	[*****]	  	

 In case of changes in the original delivery dates set forth in Exhibit B of the Agreement, GE will evaluate the
effect taking into consideration effects on the fleet size and other commercial considerations and may adjust the [*****] Distribution Schedule set forth herein above. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 3 of 4

 GE Engine Services, Inc. 

 

 All other terms and conditions contained in the Agreement, which are not modified by this Amendment
No. 1 shall remain in full force and effect. 
 IN WITNESS WHEREOF, GE and Customer have caused this Amendment No. 1 to be signed in duplicate by
their duly authorized officials as of the date written below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 

 

											
	GE ENGINE SERVICES, INC.	 		  	AZUL LINHAS AEREAS BRASILEIRAS S.A.	  	
					
	BY:	 	 /s/ Mark E. Ulliman
	 		  	BY:	  	 /s/ Gerald B. Lee

	NAME:	 	 Mark E. Ulliman
	 		  	NAME:	  	 Gerald Blake Lee

	TITLE:	 	 RGM – Sales Operations
	 		  	TITLE:	  	 Director

	DATE:	 	 Sept. 6 2011
	 		  	DATE:	  	 July 14, 2011 

					
		 		 		  	BY:	  	  

		 		 		  	NAME:	  	  

		 		 		  	TITLE:	  	  

		 		 		  	DATE:	  	  

					
	GE CELMA LTDA	 		  		  		  	
					
	BY:	 	 /s/ Eduardo S. Wildberger
	 		  	 /s/ João Moragas
	  	
	NAME:	 	 Eduardo S. Wildberger
	 		  	 JOÃO MORAGAS
	  	
	TITLE:	 	 Dir DE OPERAÇÕES
	 		  	 CFO
	  	
	DATE:	 	 Sept, 12th 2011
	 		  	 SEPT, 12TH 2011
	  	

  
 GE PROPRIETARY INFORMATION-Subject to
restrictions on the cover or first page. 

  
 Page 4 of 4 

 GE Engine Services, Inc. 

Amendment Number 2 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, Inc.

 And 
 Azul Linhas Aereas
Brasileiras S.A. 
 Agreement Number: 1-1373258434 

Dated: September 25, 2009 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, Inc. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express written
consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information contained in
this document. Unauthorized export or re-export is prohibited. 
  
 GE
PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  
 Page 1 of 3 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

AMENDMENT NUMBER 1 
 THIS AMENDMENT Number 1
(“Amendment”) is made as of this date, by and between Azul Linhas Aereas Brasileiras S.A., having its principal place of business at Alameda dos Indigenas 66, Planalto Paulista São Paulo , CEP 040059-060 Brazil
(“Customer”) and GE Engine Services, Inc., having its principal place of business at One Neumann Way, Cincinnati, Ohio 45215 USA (“GE”); (either a “Party” or collectively, the “Parties”). 

RECITALS 
 WHEREAS, the Parties have
entered into a OnPointsm Solutions Agreement, Number 1-1373258434 (“Agreement”), dated September 25, 2009; and 

WHEREAS, the Parties desire to Amend EXHIBIT D: PRICE ADJUSTMENT MATRIX of the Agreement; and 

WHEREAS, the Parties desire to amend the Agreement to reflect the foregoing. 

NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions contained herein, and other good and valuable
consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof. 

Capitalized terms used, and terms otherwise defined, in this Amendment shall have the meaning assigned to them under the Agreement. 

1. EXHIBIT D: PRICE ADJUSTMENT MATRIX of the Agreement is hereby amended to include the additional severity value 

[*****] 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 2 of 3

 GE Engine Services, Inc. 

 

 All other terms and conditions contained in the Agreement, including any amendments thereto, which are not
modified by this Amendment No. 1 shall remain in full force and effect. 
 IN WITNESS W HEREOF, GE and Customer have caused this Amendment No. 1
to be signed in duplicate by their duly authorized officials as of the date written below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity
indicated below. 
  

									
	GE ENGINE SERVICES, INC.	 		 	Azul Linhas Aereas Brasileira S.A.
					
	BY:	 	 /s/ Mark E. Ulliman
	 		 	BY:	 	 /s/ Gerald B. Lee

	NAME:	 	 Mark E. Ulliman
	 		 	NAME:	 	 Gerald Blake Lee

	TITLE:	 	 RGM – Sales Operations
	 		 	TITLE:	 	 Director

	DATE:	 	 Sept. 6, 2011
	 		 	DATE:	 	 July 14, 2010

 GE CELMA LTDA 
  

							
	BY:	 	 /s/ Eduardo S. Wildberger
	 		 	 /s/ JOÃO MORAGAS

	NAME:	 	 Eduardo S. Wildberger
	 		 	 JOÃO MORAGAS

	TITLE:	 	 Dir DE Operacões
	 		 	 CFO

	DATE:	 	 Sept, 12th 2011
	 		 	 SEPT, 12TH 2011

  
 GE PROPRIETARY INFORMATION-Subject to
restrictions on the cover or first page. 

  
 Page 3 of 3 

 GE Engine Services, Inc. 

Amendment Number 3 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, Inc.

 And 
 Azul Linhas Aereas
Brasileiras S.A. 
 Agreement Number: 1-1373258434 

Dated: August 13th 2010 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, Inc. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express written
consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information contained in
this document. Unauthorized export or re-export is prohibited. 
  
 GE
PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  
 Page 1 of 4 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

AMENDMENT NUMBER 1 
 THIS AMENDMENT Number 3
(“Amendment”) is made and is effective as of August 13, 2010 (the “Effective Date”) by and between Azul Linhas Aereas Brasileiras S.A., having its principal place of business at Alameda Surubiju no 2010, Alphaville
Industrial, Barueri – SP, CEP 06455-040, Brazil C Brazil (“Customer”) and GE Engine Services, Inc., having its principal place of business at One Neumann Way, Cincinnati, Ohio 45215 and GE Celma Ltda. (“GE Celma”), having
its principal place of business at Rua Alice Herve 356, Petropolis, 25669-900, Brazil (jointly referred to as “GE”) (either a “Party” or collectively, the “Parties”). 

RECITALS 
 WHEREAS, the Parties have
entered into a OnPointsm Solutions Agreement, Number 1-1373258434 (“Agreement”), dated September 25, 2009; and 

WHEREAS, the Parties desire to amend Section 5.5 and Exhibit L of the Agreement to adjust utilization of [*****] by Customer; and 

WHEREAS, the Parties desire to amend the Agreement to reflect the foregoing. 

NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions contained herein, and other good and valuable
consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof. 

Capitalized terms used, and terms otherwise defined, in this Amendment shall have the meaning assigned to them under the Agreement. 

1. Section 5.5 of the Agreement is hereby amended to reflect new [*****] language and it shall read as follows: 

“5.5 [*****] GE shall make available to Customer a maximum of [*****] of [*****]. These [*****] will be made available to Customer in the
[*****] on the [*****] outlined in Exhibit L attached hereto. 
 [*****] totaling [*****] shall be issued to the Customer within five
(5) Days of Customer written request to GE subsequent to the issuance dates identified in the Exhibit L. Such [*****] may only be applied by Customer as follows: 

(1) For [*****] earned in Year [*****], up to [*****] of such total [*****] can be used towards this Agreement or Supplemental Work invoices
issued under this Agreement or any other purchase of aircraft engine services from GE under a separate OnPoint Overhaul (time and material or component repair only); provided that up to a maximum of [*****] of each invoice amount may be paid with
such [*****]; 
 (2) For [*****] earned from Year [*****]: (i) up to [*****] of such total [*****] can be used towards this Agreement;
provided that up too maximum of [*****] of each invoice amount may be paid with such [*****] and (ii) the remaining [*****] of such total [*****] (i.e. [*****]) can be used towards any Supplemental Work invoices issued under this Agreement or
any other purchase of aircraft engine services from GE under a separate OnPoint Overhaul (time and material or component repair only) between Customer and GE for the maintenance or repair of Customer’s Engines; provided that up to a maximum of
[*****] of each invoice amount may be paid with such [*****]. 
 The remaining [*****] issued [*****] as identified in Exhibit L, are
effective and available as per the [*****] distribution spreadsheet below and after the purchase of the [*****] firm spare engines as per Exhibit B (Spare Engine Delivery Schedule). These [*****] can be applied towards purchase of spare engines
only, at the rate of a maximum of [*****] for each additional purchased spare engine. The availability of this [*****], if the delivery schedule in Exhibit L is brought forward. 

Such [*****] will be issued and valid only if Customer is current in oil payments due and is otherwise not in material breach under this
Agreement and any other applicable agreements to which [*****] are to be applied. GE shall be entitled to set off from such [*****] any outstanding obligation and amounts that are due and owing from Customer to GE (and not subject to a good faith
dispute). Customer may carry over [*****]; however, all [*****] must be applied by the end of the term of this Agreement. Any [*****] amounts outstanding at the end of the term of the Agreement will be canceled. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 2 of 4

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

For [*****], at the earlier of, end of the [*****] aircraft lease term or as of the date Customer returns aircraft to the lessor, Customer
shall return such [*****] 
 All [*****] amounts are not subject to escalation and are subject to reduction for any change in the operating
parameters (including number and delivery dates of Engines) set forth in Article 5.2 that reduces the Contracted Hours. Contracted Hours are defined as the Annual Utilization multiplied by number of Engines multiplied by the number of years in the
Term. 
 2. Exhibit L ([*****] Distribution Schedule) of the Agreement is hereby replaced in its entirety and it shall read as follows: 

EXHIBIT L: [*****] DISTRIBUTION SCHEDULE 
  

					
	 [*****]
	  	 [*****]
	  	 [*****]

	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]

 In case of changes in the original delivery dates set forth in Exhibit B of the Agreement, GE will evaluate the
effect taking into consideration effects on the fleet size and other commercial considerations and may adjust the [*****] Distribution Schedule set forth herein above. 

All other terms and conditions contained in the Agreement, which are not modified by this Amendment No. 3 shall remain in full force and effect. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 3 of 4

 GE Engine Services, Inc. 

 

 IN WITNESS W HEREOF, GE and Customer have caused this Amendment No. 3 to be signed in duplicate by their
duly authorized officials as of the date written below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 

 

									
	GE ENGINE SERVICES, INC.	 		 	Azul Linhas Aereas Brasileiras S.A.
					
	BY:	 	 /s/ David Kircher
	 		 	BY:	 	 Gerald Blake Lee

	NAME:	 	 David Kircher
	 		 	NAME:	 	 Gerald Blake Lee

	TITLE:	 	 Regional GM – Sales
	 		 	TITLE:	 	 Azul Linhas Aereas Brasileiras S.A.

	DATE:	 	 August 25, 2010
	 		 	DATE:	 	 August 13, 2010

					
		 		 		 	BY:	 	  

		 		 		 	NAME:	 	  

		 		 		 	TITLE:	 	  

		 		 		 	DATE:	 	  

 GE CELMA LTDA 
  

							
	BY:	 	 /s/ Eduardo S. Wildberger
	 		 	 /s/ João Moragas

	NAME:	 	 Eduardo S Wildberger
	 		 	 JOÃO MORAGAS

	TITLE:	 	 Dir DE OPERAÇÕES
	 		 	 CFO

	DATE:	 	 Sept, 12th 2011
	 		 	 SEPT, 12TH 2011

  
 GE PROPRIETARY INFORMATION-Subject to
restrictions on the cover or first page. 

  
 Page 4 of 4 

 GE Engine Services, Inc. 

Amendment Number 4 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, Inc.

 And 
 Azul Linhas Aereas
Brasileiras S.A. 
 Agreement Number: 1-1373258434 

Dated: September 22, 2010 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, Inc. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express written
consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information contained in
this document. Unauthorized export or re-export is prohibited. 
  
 GE
PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  
 Page 1 of 6 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

AMENDMENT NUMBER 4 
 THIS AMENDMENT Number 4
(“Amendment”) is made as of this date, by and between Azul Linhas Aereas Brasileiras S.A., having its principal place of business at Alameda dos Indigenas 66, Planalto Paulista São Paulo , CEP 040059-060 Brazil
(“Customer”) and GE Engine Services, Inc., having its principal place of business at One Neumann Way, Cincinnati, Ohio 45215 USA and GE Celma Ltda. (“GE Celma”), having its principal place of business at Rua Alice Herve 356,
Petropolis, 25669-900, Brazil (jointly referred to as “GE”) (either a “Party” or collectively, the “Parties”). 

RECITALS 
 WHEREAS, the Parties have
entered into a OnPointsm Solutions Agreement, Number 1-1373258434 (“Agreement”), dated September 25, 2009; and 

WHEREAS, the Parties desire to add [*****] new engines and [*****] new spare [*****] to the Agreement therefore Exhibit B thereof shall be amended to
reflect such additional engines; and 
 WHEREAS, GE agreed to [*****] to Customer due to the addition of new engines to the Agreement, the Parties
desire to amend Section 5.5 of the Agreement and Exhibit L of the Agreement [*****] Distribution Schedule; and 
 WHEREAS, the Parties desire to
amend the Agreement to reflect the foregoing. 
 NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions
contained herein, and other good and valuable consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof.

 Capitalized terms used, and terms otherwise defined, in this Amendment shall have the meaning assigned to them under the Agreement. 

1) Customer is adding [*****] new aircraft to its fleet per the below delivery schedule and desires to add [*****] firm new engines and [*****] new spare
[*****] to the Agreement per ARTICLE 10 – ADDITION OF ENGINES of the Agreement. 
 Delivery schedule for [*****] New Aircraft and
[*****] spare: 
  

					
	 [*****]
	  	 [*****]
	  	 Delivery Date

	[*****]	  	[*****]	  	Sep-10
	[*****]	  	[*****]	  	Sep-10
	[*****]	  	[*****]	  	Oct-10
	[*****]	  	[*****]	  	Nov-10
	[*****]	  	[*****]	  	Nov-10

  

					
	 [*****]
	  	 [*****]
	  	 Delivery Date

	[*****]	  	[*****]	  	Nov-10

 The delivery schedule is amended to reflect the addition of the new engines and new spare [*****] and are
included in Item 4 of this Amendment. 
 The firm engines once added into the Customer’s existing fleet covered under the Agreement
in accordance with the terms set forth herewith will be entitled to pricing set forth in Article 5.1 through 5.4 of the Agreement provided it comply with Rate Per EFH. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 2 of 6

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

Operational Parameters set forth in Article 5.2 and in compliance with the terms and conditions set forth in this Amendment. Pricing will be
escalated in accordance with escalation formula set forth on Exhibit C of the Agreement; provided, however, that it shall not be subject to any escalation cap until the date aircraft is delivered as per delivery dates listed above, and as from such
delivery date it shall be subject to a [*****] escalation cap with a Hyper-out of [*****] during the entire Term of the Agreement; provided; further, that Customer takes delivery of each such firm aircraft within [*****] of such delivery dates. The
term of this Agreement shall be [*****] for each of such firm owned aircraft and [*****] additional spare engine. 
 The firm aircraft listed
above, once added to the Customer’s fleet shall be entitled to a [*****] of [*****] per aircraft for [*****], not subject to escalation. The [*****] distribution for the added aircraft is included in the schedule below in Item 2 of the
Amendment. 
 2. Section 5.5 of the Agreement is hereby amended to reflect the issuance new [*****] as described in item 1 above and it
shall read as follows: 
 “5.5 [*****]. GE shall make available to Customer a maximum of [*****] of [*****] These [*****] will be made
available to Customer in the [*****] on the [*****] outlined in Exhibit L attached hereto. 
 [*****] for [*****] totaling [*****] shall be
issued to the Customer within five (5) Days of Customer written request to GE subsequent to the issuance dates identified in the Exhibit L. Such [*****] may only be applied by Customer as follows: 

(1) For [*****] earned in Year 2010, up to [*****] of such total [*****] can be used towards this Agreement or Supplemental Work invoices
issued under this Agreement or any other purchase of aircraft engine services from GE under a separate OnPoint Overhaul (time and material or component repair only); provided that up to a maximum of [*****] or each invoice amount may be paid with
such [*****] 
 (2) For [*****] earned from Year [*****]: (i) up to [*****] of such total [*****] can be used towards this Agreement;
provided that up to a maximum of [*****] of each invoice amount may be paid with such [*****] and (ii) the remaining [*****] of such total [*****] can be used towards any Supplemental Work invoices issued under this Agreement or any other
purchase of aircraft engine services from GE under a separate OnPoint Overhaul (time and material or component repair only) between Customer and GE for the maintenance or repair of Customer’s Engines; provided that up to a maximum of [*****] of
each invoice amount may be paid with such [*****]. 
 The remaining [*****] issued [*****] as identified in Exhibit L, [*****] spare engines
above the [*****] firm spare as per Exhibit B (Spare Engine Delivery Schedule), at the rate of a maximum of [*****] applied per each additional spare. The availability of this [*****], if the delivery schedule in Exhibit L is brought forward. 

Such [*****] will be issued and valid only if Customer is current in all payments due and is otherwise not in material breach under this
Agreement and any other applicable agreements to which [*****] are to be applied. GE shall be entitled to set off from such [*****] any outstanding obligation and amounts that are due and owing from Customer to GE (and not subject to a good faith
dispute). Customer may carry over [*****]; however, all [*****] must be applied by the end of the term of this Agreement. Any [*****] amounts outstanding at the end of the term of the Agreement will be canceled. 

For [*****], at the earlier of, end of the [*****] year aircraft lease term or as of the date Customer returns aircraft to the lessor, Customer
shall return such [*****] configuration. 
 All [*****] amounts are not subject to escalation and are subject to reduction for any change in
the operating parameters (including number and delivery dates of Engines) set forth in Article 5.2 that reduces the Contracted Hours. Contracted Hours are defined as the Annual Utilization multiplied by number of Engines multiplied by the number of
years in the Term. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 3 of 6

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

3. Exhibit L [*****] Distribution Schedule) of the Agreement is hereby replaced in its entirety and it shall read as follows: 

 

					
	 [*****]
	  	 [*****]
	  	 [*****]

	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]

 In case of changes in the original delivery dates set forth in Exhibit B of the Agreement, GE will evaluate the
effect taking into consideration effects on the fleet size and other commercial considerations and may adjust the [*****] Distribution Schedule set forth herein above. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 4 of 6

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

4. Exhibit B (ENGINES COVERED) of the Agreement is hereby replaced in its entirety and it shall read as follows: 

Customer will maintain a spare Engine(s) to installed Engines ratio of not less than [*****], rounded up to the next whole Engine, during the
term of this Agreement. However, GE will work with Customer if the ratio falls slightly less than [*****]. 
  

			
	 [*****]
	  	 Delivery Date

	[*****]	  	Dec-08
	[*****]	  	Jan-09
	[*****]	  	Feb-09
	[*****]	  	Mar-09
	[*****]	  	Apr-09
	[*****]	  	May-09
	[*****]	  	Jun-09
	[*****]	  	Jul-09
	[*****]	  	Dec-09
	[*****]	  	Mar-10
	[*****]	  	Jun-10
	[*****]	  	Jul-10
	[*****]	  	Jul-10
	[*****]	  	Jul-10
	[*****]	  	Aug-10
	[*****]	  	Aug-10
	[*****]	  	Sep-10
	[*****]	  	Sep-10
	[*****]	  	Oct-10
	[*****]	  	Nov-10
	[*****]	  	Nov-10
	[*****]	  	Jan-11
	[*****]	  	Feb-11
	[*****]	  	Mar-11
	[*****]	  	Apr-11
	[*****]	  	May-11
	[*****]	  	May-11
	[*****]	  	Jun-11
	[*****]	  	Jul-11
	[*****]	  	Aug-11
	[*****]	  	Sep-11
	[*****]	  	Oct-11
	[*****]	  	Oct-11
	[*****]	  	Nov-11
	[*****]	  	Dec-11
	[*****]	  	Jan-12
	[*****]	  	Mar-12
	[*****]	  	May-12
	[*****]	  	Sep-12
	[*****]	  	Oct-12
	[*****]	  	Nov-12

  

			
	 [*****]
	  	 Delivery Date

	[*****]	  	Feb-09
	[*****]	  	Jun-09
	[*****]	  	Nov-09
	[*****]	  	Jun-10
	[*****]	  	Nov-10
	[*****]	  	Jun-11
	[*****]	  	Dec-11
	[*****]	  	Jun-12

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 5 of 6

 GE Engine Services, Inc. 

 

 All other terms and conditions contained in the Agreement, which are not modified by this Amendment
No. 4 shall remain in full force and effect. 
 IN WITNESS WHEREOF, GE and Customer have caused this Amendment No. 4 to be signed in duplicate by
their duly authorized officials as of the date written below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 

 

									
	GE ENGINE SERVICES, INC.	 		 	Azul Linhas Aereas Brasileiras S.A.
					
	BY:	 	 /s/ David Kircher
	 		 	BY:	 	 /s/ Gerald B. Lee

	NAME:	 	 David Kircher
	 		 	NAME:	 	 Gerald B. Lee

	TITLE:	 	 Regional GM-Sales
	 		 	TITLE:	 	 Attorney - in - Fact

	DATE:	 	 November 16, 2010
	 		 	DATE:	 	  

				
	GE CELMA LTDA.	 		 	BY:	 	  

		 		 		 	NAME:	 	  

	BY:	 	 /s/ Julio Talon
	 		 	TITLE:	 	  

	NAME:	 	 Julio Talon
	 		 		 	
	TITLE:	 	 General Manager
	 		 		 	
	DATE:	 	 November 22, 2010
	 		 		 	
					
	BY:	 	 /s/ João B. G. Moragas
	 		 		 	
	NAME:	 	 João B. G. Moragas
	 		 		 	
	TITLE:	 	 Finance Director
	 		 		 	
	DATE:	 	 November 29, 2010
	 		 		 	

  
 GE PROPRIETARY INFORMATION-Subject to
restrictions on the cover or first page. 

  
 Page 6 of 6 

 GE Engine Services, Inc. 

Amendment Number 5 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, LLC

 GE CELMA Ltda. 
 And 

Azul Linhas Aereas Brasileiras S.A. 

Agreement Number: 1-1373258434 

Dated: November 10th 2010 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, LLC. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express written
consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information contained in
this document. Unauthorized export or re-export is prohibited. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 1 of 4 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 

AMENDMENT NUMBER 5 
 THIS AMENDMENT Number 5
(“Amendment”) is made and is effective as of November 10, 2010 (the “Effective Date”) by and between Azul Linhas Aereas Brasileiras S.A., having its principal place of business at Alameda Surubiju no 2010, Alphaville
Industrial, Barueri – SP, CEP 06455-040, Brazil (“Customer”) and GE Engine Services, LLC, having its principal place of business at One Neumann Way, Cincinnati, Ohio 45215 and GE Celma Ltda. (“GE Celma”), having its
principal place of business at Rua Alice Herve 356, Petropolis, 25669-900, Brazil (jointly referred to as “GE”) (either a “Party” or collectively, the “Parties”). 

RECITALS 
 WHEREAS, the Parties have
entered into a OnPointsm Solutions Agreement, Number 1-1373258434 (“Agreement”), dated September 25, 2009, and 

WHEREAS, the Parties desire to amend Section 5.5 and Exhibit L of the Agreement to adjust [*****] to be distributed to Customer; and 

WHEREAS, the Parties desire to amend the Agreement to reflect the foregoing. 

NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions contained herein, and other good and valuable
consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof. 

Capitalized terms used, and terms otherwise defined, in this Amendment shall have the meaning assigned to them under the Agreement. 

1. Section 5.5 of the Agreement is hereby amended to reflect new [*****] language due to an advancement of [*****] and due to a
modification to the wording to allow all of the [*****] in [*****] to be used towards this Agreement and it shall read as follows: 

“5.5 [*****]. GE shall make available to Customer a maximum of [*****] of [*****]. These [*****] will be made available to Customer in the
[*****] on the [*****] outlined in Exhibit L attached hereto. 
 [*****] for [*****] totaling [*****] shall be issued to the Customer within
five (5) Days of Customer written request to GE subsequent to the issuance dates identified in the Exhibit L. Such [*****] may only be applied by Customer as follows: 

For [*****] earned from Year [*****], up to [*****] of such total [*****] can be used towards this Agreement or Supplemental Work invoices
issued under this Agreement or any other purchase of aircraft engine services from GE under a separate OnPoint Overhaul (time and material or component repair only); provided that up to a maximum of [*****] of each invoice amount may be paid with
such [*****] 
 The remaining [*****], as identified in Exhibit L, [*****] spare engines above the [*****] firm spare as per Exhibit B (Spare
Engine Delivery Schedule), at the rate of a maximum of [*****] applied per each additional spare. The availability of this [*****], if the delivery schedule in Exhibit L is brought forward. 

Such [*****] will be issued and valid only if Customer is current in all payments due and is otherwise not in material breach under this
Agreement and any other applicable agreements to which [*****] are to be applied. GE shall be entitled to set off from such [*****] any outstanding obligation and amounts that are due and owing from Customer to GE (and not subject to a good faith
dispute). Customer may carry over any [*****]; however, all [*****] must be applied by the end of the term of this Agreement. Any [*****] amounts outstanding at the end of the term of the Agreement will be canceled. 

For [*****], at the earlier of, end of the [*****] year aircraft lease term or as of the date Customer returns aircraft to the lessor, Customer
shall return such [*****] configuration. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 2 of 4 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

All [*****] amounts are not subject to escalation and are subject to reduction for any change in the operating parameters (including number and
delivery dates of Engines) set forth in Article 5.2 that reduces the Contracted Hours. Contracted Hours are defined as the Annual Utilization multiplied by number of Engines multiplied by the number of years in the Term. 

2. In order to reflect issuance of [*****] as per section 1 above, Exhibit L ([*****] Distribution Schedule) of the Agreement is hereby
replaced in its entirety and it shall read as follows: 
  

					
	 [*****]
	  	 [*****]
	  	 [*****]

	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	
	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]

 In case of changes in the original delivery dates set forth in Exhibit B of the Agreement, GE will evaluate the
effect taking into consideration effects on the fleet size and other commercial considerations and may adjust the [*****] Distribution Schedule set forth herein above. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 3 of 4

 GE Engine Services, Inc. 

 

 All other terms and conditions contained in the Agreement, which are not modified by this Amendment
No. 5 shall remain in full force and effect. 
 IN WITNESS WHEREOF, GE and Customer have caused this Amendment No. 5 to be signed in duplicate by
their duly authorized officials as of the date written below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 

 

									
	GE ENGINE SERVICES, INC.	 		 	Azul Linhas Aereas Brasileiras S.A.
					
	BY:	 	 /s/ David Kircher
	 		 	BY:	 	 /s/ Gerald B. Lee

	NAME:	 	 David Kircher
	 		 	NAME:	 	 Gerald B. Lee

	TITLE:	 	 Regional GM-Sales
	 		 	TITLE:	 	 Attorney - in - Fact

	DATE:	 	 December 1, 2010
	 		 	DATE:	 	  

				
	GE CELMA LTDA.	 		 	BY:	 	  

		 		 	NAME:	 	  

	BY:	 	 /s/ Eduardo S. Wildberger
	 		 	TITLE:	 	  

	NAME:	 	 Eduardo S. Wildberger
	 		 		 	
	TITLE:	 	 DIR. DE OPERAÇÕES
	 		 		 	
	DATE:	 	 Sept 12th, 2011
	 		 		 	
					
	BY:	 	 /s/ João Moragas
	 		 		 	
	NAME:	 	 João Moragas
	 		 		 	
	TITLE:	 	 CFO
	 		 		 	
	DATE:	 	 SEPT 12th, 2011
	 		 		 	

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 4 of 4 

 GE Engine Services, Inc. 

Amendment Number 6 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, LLC

 GE CELMA Ltda. 
 And 

Azul Linhas Aereas Brasileiras S.A. 

Agreement Number: 1-1373258434 

Dated: January 31st, 2011 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, LLC. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express written
consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information contained in
this document. Unauthorized export or re-export is prohibited. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 1 of 4 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 

AMENDMENT NUMBER 6 
 THIS AMENDMENT Number 6
(“Amendment”) is made and is effective as of January 31, 2011 (the “Effective Date”) by and between Azul Linhas Aereas Brasileiras S.A., having its principal place of business at Alameda Surubiju no 2010, Alphaville
Industrial, Barueri – SP, CEP 06455-040, Brazil (“Customer”) and GE Engine Services, LLC, having its principal place at business at One Neumann Way, Cincinnati, Ohio 45215 and GE Celma Ltda. (“GE Celma”), having its
principal place at business at Rua Alice Herve 356, Petropolis, 25669-900, Brazil (jointly referred to as “GE”) (either a “Party” or collectively, the “Parties”). 

RECITALS 
 WHEREAS, the Parties have
entered into a OnPointsm Solutions Agreement, Number 1-1373258434 (“Agreement”), dated September 25, 2009; and Amendment 1 through 5; and 

WHEREAS, the Parties desire to amend Exhibit L of the Agreement to adjust [*****] to be [*****] to Customer; and 

WHEREAS, the Parties desire to amend the Agreement to reflect the foregoing. 

NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions contained herein, end other good and valuable
consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 2 of 4 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

Capitalized terms used, and terms otherwise defined, in this Amendment shall have the meaning assigned to them under the Agreement. 

1. Exhibit L ([*****] Distribution Schedule) of the Agreement is hereby amended to reflect new [*****] distribution throughout [*****] to
address Customer [*****], and it shall read as follows: 
 [*****] 

In case of changes in the original delivery dates set forth in Exhibit B of the Agreement, GE will evaluate the effect taking into consideration effects on
the fleet size and other commercial considerations and may adjust the [*****] Distribution Schedule set forth herein above. All other terms and conditions contained in the Agreement, which are not modified by this Amendment No. 6 shall remain
in full force and effect. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 3 of 4

 GE Engine Services, Inc. 

IN WITNESS WHEREOF, GE and Customer have caused this Amendment No. 6 to be signed in duplicate by their duly authorized officials as of the date written
below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 
  

									
	GE ENGINE SERVICES, INC.	 		 	Azul Linhas Aereas Brasileiras S.A.
					
	BY:	 	 /s/ David Kircher
	 		 	BY:	 	 /s/ Gerald B. Lee

	NAME:	 	 David Kircher
	 		 	NAME:	 	 Gerald B. Lee

	TITLE:	 	 Regional GM-Sales
	 		 	TITLE:	 	 Attorney - in - Fact

	DATE:	 	 December 1, 2010
	 		 	DATE:	 	  

				
	GE CELMA LTDA.	 		 	BY:	 	  

		 		 		 	NAME:	 	  

	BY:	 	/s/ Eduardo S. Wildberger	 		 	TITLE:	 	  

	NAME:	 	Eduardo S. Wildberger	 		 	DATE:	 	  

	TITLE:	 	DIR. DE OPERAÇÕES	 		 		 	
	DATE:	 	Sept 12th, 2011	 		 		 	
					
	BY:	 	/s/ João Moragas	 		 		 	
	NAME	 	João Moragas	 		 		 	
	TITLE	 	CFO	 		 		 	
	DATE	 	SEPT 12th, 2011	 		 		 	

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 4 of 4 

 GE Engine Services, Inc. 

Amendment Number 7 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, LLC

 GE CELMA Ltda. 
 And 

Azul Linhas Aereas Brasileiras S.A. 

Agreement Number: 1-1373258434 

Dated: Oct. 19th, 2011 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, LLC. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express
written consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information
contained in this document. Unauthorized export or re-export is prohibited. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 1 of 3 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 

AMENDMENT NUMBER 7 
 THIS AMENDMENT Number 7
(“Amendment”) is made and is effective as of Sept. 7th, 2011 (the “Effective Date”) by and between Azul Linhas Aereas Brasileiras S.A., having its principal place of business
at Alameda Surubiju no 2010, Alphaville Industrial, Barueri – SP, CEP 06455-040, Brazil (“Customer”) and GE Engine Services, LLC, having its principal place of business at One Neumann Way, Cincinnati, Ohio 45215 and GE Celma
Ltda. (“GE Celma”), having its principal place of business at Rua Alice Herve 356, Petropolis, 25669-900, Brazil (jointly referred to as “GE”) (either a “Party” or collectively, the “Parties”). 

RECITALS 
 WHEREAS, the Parties have
entered into a OnPointsm Solutions Agreement, Number 1-1373258434 (“Agreement”), dated September 25, 2009; and Amendment 1 through 6; and 

WHEREAS, the Parties desire to amend Article 6 of the Agreement to add section 6.6 with the purpose of [*****] and 

WHEREAS, the Parties desire to amend the Agreement to reflect the foregoing. 

NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions contained herein, and other good and valuable
consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof. 

Capitalized terms used, and terms otherwise defined, in this Amendment shall have the meaning assigned to them under the Agreement. 

Article 6 of the Agreement is hereby amended (1) with addition of a new section 6.6 and (2) with modification of 6.1 [*****] and it shall read as
follows: 
 [*****] Customer will remit to GE, prior to Redelivery of each Engine, an amount equal [*****] by that Engine since delivery from
manufacturer of the aircraft in which such Engine was originally installed (for a new installed Engine), or since delivery from manufacturer (for a new spare Engine), or since the last Rate Per EFH Shop Visit for that Engine, whichever occurred
last, multiplied by the Current adjusted and escalated [*****], except as otherwise provided for in section 6.6 below. In the event that Customer causes such payment to be made on its behalf by a third party, and such third party fails to pay some
or all of the payment due to GE, then Customer will make the payment, in whole or in part, to make up the amount not paid. In the event that such payment is not paid in full, GE is not obligated to perform its obligations under this Agreement with
respect to such Engine. 
 6.6 ESNs [*****] In consideration for the [*****], the first Rate Per EFH Shop Visit for ESNs [*****] The
second Rate Per EFH Shop Visit for ESNs [*****] will be invoiced at an [*****] by that Engine since [*****] in which such Engine was originally installed. For each subsequent shop visit, the terms of section 6.1 apply. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 2 of 3 

 GE Engine Services, Inc. 

IN WITNESS WHEREOF, GE and Customer have caused this Amendment No. 7 to be signed in duplicate by their duly authorized officials as of the date written
below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 
  

									
	GE ENGINE SERVICES, INC.	 		 	Azul Linhas Aereas Brasileiras S.A.
					
	BY: 	 	 /s/ Thomas D. Hoferer
	 		 	BY:	 	 /s/ Gerald B. Lee

	NAME:	 	 Thomas D. Hoferer
	 		 	NAME:	 	 Gerald B. Lee

	TITLE:	 	 Commercial Operations Manager
	 		 	TITLE:	 	 Attorney - in - Fact

	DATE: 	 	 1 Feb 2012
	 		 	DATE: 	 	 October 19, 2011

				
	GE CELMA LTDA.	 		 	BY:	 	  

		 		 	NAME:	 	  

	BY: 	 	/s/ João Moragas	 		 	 TITLE:
	 	  

	NAME:	 	João B. G. Moragas	 		 	 DATE:
	 	  

	TITLE:	 	CFO	 		 		 	
	DATE: 	 	21 Mar 2012	 		 		 	
					
	BY: 	 	/s/ Eduardo Wildberger	 		 		 	
	NAME:	 	Eduardo Wildberger	 		 		 	
	TITLE:	 	OPERATIONS DIRECTOR	 		 		 	
	DATE: 	 	21 MAR 2012	 		 		 	

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 3 of 3 

 GE Engine Services, Inc. 

Amendment Number 8 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, LLC

 GE CELMA Ltda. 
 And 

Azul Linhas Aereas Brasileiras S.A. 

Agreement Number: 1-1373258434 

Dated: May 15th, 2012 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, LLC. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express
written consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information
contained in this document. Unauthorized export or re-export is prohibited. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 1 of 6 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 

Amendment Number 8 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, LLC;
GE CELMA Ltda. 
 And 
 Azul
Linhas Aereas Brasileiras S.A. 
 THIS AMENDMENT Number 8 (“Amendment”) is made and is effective as of May 15th, 2012 (the “Effective Date”) by and between Azul Linhas Aereas Brasileiras S.A., having its principal place of business at Alameda Surubiju no 2010, Alphaville Industrial, Barueri -
SP, CEP 06455-040, Brazil (“Customer”) and GE Engine Services, LLC., having its principal place of business at One Neumann Way, Cincinnati, Ohio 45215 and GE Celma Ltda. (“GE Celma”), having its principal place of business at Rua
Alice Herve 356, Petropolis, 25669-900, Brazil (jointly referred to as “GE”) (either a “Party” or collectively, the “Parties”). 

RECITALS 
 WHEREAS, the Parties have
entered into a OnPointsm Solutions Agreement, Number 1-1373258434 (“Agreement”), dated September 25, 2009; and Amendment 1 through 7; and 

WHEREAS, the Parties desire to amend the Agreement to add [*****] CF34-10E7 powered Optional Aircraft and [*****] additional CF34-10E7 spare engines;
and 
 WHEREAS, the Parties now desire to amend the Agreement to add coverage for [*****] 

WHEREAS, the Parties desire to amend Section 5.5 of the Agreement to adjust the [*****] to Customer; and 

WHEREAS, the Parties desire to amend Exhibit L of the Agreement to adjust the [*****] distribution; and 

WHEREAS, the Parties desire to amend Exhibit M of the Agreement to adjust the number of Optional Aircraft, 

WHEREAS, the Parties desire to amend the Agreement to reflect the foregoing. 

NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions contained herein, and other good and valuable
consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof. 

Capitalized terms used, and terms otherwise defined, in this Amendment shall have the meaning assigned to them under the Agreement. 

 

	1.	Once the [*****] CF34-10E7 powered Optional Aircraft and the [*****] additional CF34-10E7 spare engines are added into the Customer’s existing fleet covered under the Agreement in accordance with the terms set
forth herewith will be entitled to pricing set forth in Article 5.1 through 5.4 of the Agreement provided it comply with Rate per EHF Operational Parameters set forth in Article 5.2 and in compliance with the terms and conditions set forth in this
Amendment. Pricing will be escalated in accordance with escalation formula set forth on Exhibit C of the Agreement, provided however that it shall not be subject to any escalation cap until the date aircraft is delivered as per Exhibit B of the
Agreement, and as from such delivery date shall be subject to a [*****] escalation cap with a Hyper-out of [*****] during the entire Term of the Agreement, provided further, that Customer takes delivery of each such firm aircraft within [*****]
months of such delivery dates. The term of this Agreement shall be [*****] for each of such firm owned aircraft and spare engine. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 2 of 6 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

	2.	Exhibit B (Engines Covered) of the Agreement is hereby replaced to reflect the new Engine Type in the delivery schedule as follows: 

“EXHIBIT B: Engines Covered 
 Customer will
maintain a spare Engine(s) to installed Engines ratio of not less than [*****], rounded up to the next whole Engine, during the term of this Agreement. However, GE will work with Customer if the ratio falls slightly less than [*****]. 

Aircraft Delivery Schedule 
  

					
	 [*****]
	  	 Delivery Date
	  	 [*****]

	[*****]	  	Dec-08	  	[*****]
	[*****]	  	Jan-09	  	[*****]
	[*****]	  	Feb-09	  	[*****]
	[*****]	  	Mar-09	  	[*****]
	[*****]	  	Apr-09	  	[*****]
	[*****]	  	May-09	  	[*****]
	[*****]	  	Jun-09	  	[*****]
	[*****]	  	Jul-09	  	[*****]
	[*****]	  	Dec-09	  	[*****]
	[*****]	  	Nov-09	  	[*****]
	[*****]	  	Feb-10	  	[*****]
	[*****]	  	Jun-10	  	[*****]
	[*****]	  	Jun-10	  	[*****]
	[*****]	  	Jun-10	  	[*****]
	[*****]	  	Jul-10	  	[*****]
	[*****]	  	Aug-10	  	[*****]
	[*****]	  	Aug-10	  	[*****]
	[*****]	  	Sep-10	  	[*****]
	[*****]	  	Sep-10	  	[*****]
	[*****]	  	Oct-10	  	[*****]
	[*****]	  	Dec-10	  	[*****]
	[*****]	  	Dec-10	  	[*****]
	[*****]	  	Jan-11	  	[*****]
	[*****]	  	Feb-11	  	[*****]
	[*****]	  	Mar-11	  	[*****]
	[*****]	  	May-11	  	[*****]
	[*****]	  	Jun-11	  	[*****]
	[*****]	  	Sep-11	  	[*****]
	[*****]	  	Sep-11	  	[*****]
	[*****]	  	Nov-11	  	[*****]
	[*****]	  	Dec-11	  	[*****]
	[*****]	  	Dec-11	  	[*****]
	[*****]	  	Dec-11	  	[*****]
	[*****]	  	Jan-12	  	[*****]
	[*****]	  	Jan-12	  	[*****]
	[*****]	  	Mar-12	  	[*****]
	[*****]	  	Mar-12	  	[*****]
	[*****]	  	Apr-12	  	[*****]
	[*****]	  	May-12	  	[*****]
	[*****]	  	Sep-12	  	[*****]
	[*****]	  	Oct-12	  	[*****]
	[*****]	  	Nov-12	  	[*****]
	[*****]	  	Mar-13	  	[*****]
	[*****]	  	May-13	  	[*****]
	[*****]	  	Jun-13	  	[*****]
	[*****]	  	Oct-13	  	[*****]
	[*****]	  	Nov-13	  	[*****]
	[*****]	  	Feb-14	  	[*****]
	[*****]	  	Mar-14	  	[*****]
	[*****]	  	Apr-14	  	[*****]
	[*****]	  	Jun-14	  	[*****]
	[*****]	  	Sep-14	  	[*****]
	[*****]	  	[*****]	  	[*****]

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 3 of 6 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

 [*****] Spare Engine Delivery Schedule 

 

					
	 [*****]
	  	 [*****]
	  	 Delivery Date

	[*****]	  	[*****]	  	9-Feb
	[*****]	  	[*****]	  	9-Jun
	[*****]	  	[*****]	  	9-Nov
	[*****]	  	[*****]	  	10-Jun
	[*****]	  	[*****]	  	10-Nov
	[*****]	  	[*****]	  	11-Jun
	[*****]	  	[*****]	  	11-Dec
	[*****]	  	[*****]	  	12-Jun
	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]

 The Spare Engine Delivery Schedule may chance from time-to-time according the changes of the Aircraft Delivery
Schedule in order to respect the [*****] (“Minimum Number of Spares”).” 
  

	3.	Section 5.5 of the Agreement is hereby amended to reflect new [*****] earnings and distribution due to the addition of the [*****] and the [*****] New [*****] to be used towards this Agreement shall read as
follows: 

 “5.5 [*****]. GE shall make available to Customer a maximum of [*****] of [*****]. These [*****] will be made
available to Customer in the [*****] on the [*****] outlined in Exhibit L attached hereto. 
 [*****] totaling [*****] shall be issued to the
Customer within five (5) Days of Customer written request to GE subsequent to the issuance dates identified in the Exhibit L. Such [*****] may only be applied by Customer as follows: 

It is understood the [*****] schedule was revised by Amendment #5 in [*****] and the Parties have put in place a [*****]. It is also understood
that these [*****] were not precedent setting and there is not an obligation for GE to move [*****] 
 For [*****] available from Year 2010
through [*****], up to [*****] of such total [*****] can be used towards this Agreement or Supplemental Work invoices issued under this Agreement or any other purchase of aircraft engine services from GE under a separate OnPoint Overhaul (time and
material or component repair only); provided that up to a maximum of [*****] of each invoice amount may be paid with such [*****]; 
 The
remaining [*****] issued [*****], as identified in Exhibit L, [*****] spare engines above the [*****] firm spare as per Exhibit B (Spare Engine Delivery Schedule), at the rate of a maximum of [*****] applied per each additional spare. The
availability of this [*****] will be adjusted sooner than [*****], if the delivery schedule in Exhibit L is brought forward. 
 GE shall
provide to Customer a [*****] in the amount of [*****] to be used solely for the [*****] by this Agreement. This [*****] is not subject to renewal, extension, or escalation, and shall be available according to Exhibit L [*****] Distribution
Schedule). The [*****] issued will equal [*****] of the total invoiced amount for the test, evaluation, and [*****] 
  

	 	a)	This [*****] shall apply only to [*****] 

  

	 	b)	Customer must provide to GE a copy of the [*****] serial number and any other documentation reasonably requested by GE to document the [*****] before the [*****] becomes payable to Customer. 

 

	 	c)	Once [*****], the [*****] will be made available on a [*****] and shall be applied only to any open Customer [*****] issued pursuant to this Agreement. 

Such [*****] will be issued and valid only if Customer is current in all payments due and is otherwise not in material breach under this Agreement and any
other applicable agreements to which [*****] are to be applied. GE shall be entitled to set off from [*****] any outstanding obligation and amounts that are due and owing from Customer to GE (and not subject to a good faith dispute). 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 4 of 6 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

 Customer may carry over any [*****]; however, all [*****] must be applied by the end of the term of this
Agreement. Any [*****] amounts outstanding at the end of the term of the Agreement will be canceled. 
 All [*****] amounts are not subject to escalation
and are subject to reduction for any change in the operating parameters (including number and delivery dates of Engines) set forth in Article 5.2 that reduces the Contracted Hours. Contracted Hours are defined as the Annual Utilization multiplied by
number of Engines multiplied by the number of years in the Term. 
 If an Engine is removed from the Agreement and has not incurred sufficient EFH to meet
the Contracted Hours for that Engine, any remaining [*****] to be issued shall be reduced and, within thirty (30) Days of such Engine’s removal, Customer shall [*****] to GE the [*****] on a pro-rata basis based on EFH incurred and for
which GE has received all Rate Per EFH Payments under this Agreement. By way of example only, if an Engine being removed has incurred and GE has received all Rate Per EFH Payments for [*****] and the total Contracted Hours for this Engine are
[*****], then Customer shall [*****] of the [*****] as determined on a pro-rata basis based on the number of Engines covered by the Agreement. If GE has not received any Rate Per EFH Payments on the removed Engine, Customer shall [*****] of the
[*****] allocated and paid against such Engine as determined on a pro-rata basis based on the number of Engines covered by the Agreement. 
 In the event of
termination of this Agreement due to any reason other than the material breach by GE, such [*****] will be cancelled and any amount issued and applied as of the time of termination shall be [*****] to GE by Customer within thirty (30) Days of
termination of this Agreement.” 
  

	4.	Exhibit L ([*****] Distribution Schedule) of the Agreement is hereby replaced to reflect new [*****] distribution. 

[*****] 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 5 of 6 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

 In case of changes in the original delivery dates set forth in Exhibit B of the Agreement, GE will evaluate
the effect taking into consideration effects on the fleet size and other commercial considerations and may adjust the [*****] Distribution Schedule set forth in Exhibit L. 
  

	5.	The Optional Aircraft Delivered Schedule established on Exhibit M of the Agreement is hereby deleted and replace by the following table: 

[*****] 
 IN WITNESS WHEREOF, GE and Customer
have caused this Amendment No. 8 to be signed in duplicate by their duly authorized officials as of the date written below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this
Amendment and serves in the capacity indicated below. 
  

									
	 Azul Linhas Aereas Brasileiras S.A.
	 		 	Azul Linhas Aereas Brasileiras S.A.
					
	BY: 	 	  
	 		 	BY:	 	 /s/ Alexandre Malfitani

	NAME:	 	  
	 		 	NAME:	 	 Alexandre Malfitani

	TITLE:	 	  
	 		 	TITLE:	 	 Finance Director

	DATE: 	 	  
	 		 	DATE: 	 	 7/10/2012

			
	GE Celma Ltda.	 		 	 GE Celma Ltda.

					
	BY: 	 	 /s/ Eduardo Soares Wildberger
	 		 	 BY:
	 	 João B. G. Moragas

	NAME:	 	 Eduardo Soares Wildberger
	 		 	 NAME:
	 	 João B. G. Moragas

	TITLE:	 	 DIRECTOR OPERAÇÕES
	 		 	 TITLE:
	 	 Finance Director

	DATE: 	 	 7/25/2012
	 		 	DATE:	 	 7/25/2012

				
	GE Engine Services, LLC 	 		 		 	
					
	BY: 	 	 /s/ Paul McElhinney
	 		 		 	
	NAME:	 	 Paul McElhinney
	 		 		 	
	TITLE:	 	 CEO, Aviation Services
	 		 		 	
	DATE: 	 	 July 10, 2012
	 		 		 	

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 6 of 6 

 GE Engine Services, Inc. 

Amendment Number 9 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, LLC

 GE Celma Ltda. 
 And 

Azul Trip S.A. 
 Azul
Linhas Aéreas Brasileiras S.A. 
 Trip Linhas Aéreas S.A. 

Agreement Number: 1-1373258434 

Dated: December 15th, 2012 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, LLC. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express
written consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information
contained in this document. Unauthorized export or re-export is prohibited. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 1 of 8 

 GE Engine Services, Inc. 

Amendment Number 9 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, LLC;
GE Celma Ltda. 
 And 
 Azul
Trip S.A.; Azul Linhas Aéreas Brasileiras S.A.; 
 Trip Linhas Aéreas S.A. 

THIS AMENDMENT Number 9 (“Amendment”) is made and is effective as of December 15th, 2012
(the “Effective Date”) by and between Azul Trip S.A., with its address at Av. Marcos Penteado de Ulhôa Rodrigues, no 939, 8o andar, Edificio Jatobá, Condominio Castelo Branco Office Park, Tamboré, CEP,
06460-040 (“Holding”), Azul Linhas Aéreas Brasileiras S.A., with its address at Alameda Surubiju no 2010, Alphaville Industrial, Barueri – SP, CEP 06455-040, Brazil (“Azul”), Trip Linhas Aéreas S.A., with
its address at Avenida Cambacicas, no 1200, Parque Imperador, Campinas – SP, Brazil, CEP 13097-104 (“Trip”), GE Engine Services, LLC., with its address at One Neumann Way, Cincinnati, Ohio 45215 (“GEES”) and GE
Celma Ltda., with its address at Rua Alice Herve 356, Petropolis, 25669-900, Brazil (“GE Celma”), GEES and GE Celma are jointly referred to as “GE” and all the signatories if this Amendment are hereinafter referred
to as a “Party” or collectively, the “Parties”. 
 RECITALS 

WHEREAS, the Azul Linhas Aéreas Brasileiras S.A. and GE have entered into a OnPointsm
Solutions Agreement, Number 1-1373258434 (“Agreement”), dated September 25, 2009 and Amendment 1 through 8; 
 WHEREAS, due to
the acquisition of 100% of Trip’s shares by Azul Holding, Trip will become a wholly owned subsidiary of Azul Holding, integrating the Azul Group which already includes Azul Linhas Aréas Brasileiras S.A. (“Azul”); 

WHEREAS, Holding, Azul and Trip now desire to concentrate its fleet management under the Holding; 

WHEREAS, the Parties desire to amend the Agreement and Amendments 1 to 8 to reflect the new structure of Holding, Azul and Trip and to include Holding
and Trip as Parties of the Agreement. 
 NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions
contained herein, end other good and valuable consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof.

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 2 of 8 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

 Capitalized terms used, and terms otherwise defined, in this Amendment shall have the meaning assigned to
them under the Agreement. 
 1. The Parties hereby include Holding and Trip as signatories of the Agreement and therefore the first paragraph of the
Agreement shall now be read as follows: 
 “THIS ENGINE SERVICES AGREEMENT is made and is effective as of September 25, 2009 (the
“Effective Date”) by and between Azul Trip S.A. with its address at Av. Marcos Penteado de Ulhôa Rodrigues, n° 939, 8° andar. Edificio Jatobá, Condomlnio Castelo Branco Office Park, Tamboré — SP, Brazil,
CEP, 06460-040 (“Holding”), Trip Linhas Aéreas S.A., with its address at Avenida Cambacicas, n° 1200, Parque Imperador, Campinas — SP, Brazil, CEP 13097-104 (“Trip”), Azul Linhas Aéreas Brasileiras S.A,,
with Its address at Alameda Surubiju n° 2010, Alphaville Industrial, Banieri - SP, CEP 06455-040, Brazil (“Azul”) and GE Engine Services, Inc., with its address at One Neumann Way, Cincinnati, Ohio 45215 (“GEES’) and GE Celme
Lida, with Its address at Rua Alice Nerve 356, Petropolis, 25669-900, Brazil (“GE Celma”). 
 Azul and Trip are jointly referred to
as Customer; GEES and GE Celma are jointly referred to as “GE”; and all signatories are hereinafter referred to either as a °Party” or collectively, the “Parties”. 

 

	2.	The Parties hereby add [*****] Trip leased Embraer E-195 aircraft to the Agreement (“Trip E-195 Leased Fleet”) that is identified in Attachment A hereto. GE and Trip’s obligation under the Agreement will
commence upon Effective Date and will continue, unless sooner terminated, for a period of [*****] per engine for the Trip E-195 Leased Fleet, or [*****], whichever occurs first (the “Term”). 

 

	3.	All terms and conditions of the Agreement shall be applied to Trip E-195 Leased Peet except for the ones provided below: 

3.1 The Parties agree that exclusively for Trip E-195 Leased Fleet there will be [*****] for [*****] For that reason, the Parties agree that no
reference made to [*****] on Articles 3.1 and 3.2 of the Agreement shall apply to Trip E-195 Leased Fleet. 
 [*****] inspection, repair and
replacement shall be considered as Supplemental Work and therefore included on Article 4.1. 
 In no event, there will be Supplemental
charges for labor costs associated with [ *****] inspection and/or replacement. 
 3.2 The Parties agree to complement Article 5 –
Pricing of the Agreement to include the following pricing condition exclusively for Trip E-195 Leased Fleet: 
 “PRICING FOR TRIP
E-195 LEASED FLEET 
 Rate Per EFH Pricing. Unless otherwise stated, all rates and prices are In [*****] US Dollars. Rate Per
EFH Services will be performed by GE at the Rate Per EFH as follows and is applicable to all EFH incurred starting on the Effective Date. 

[*****] Structure: 

[*****] 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 3 of 8 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

Rate Per EFH Parameters. The Rate Per EFH is predicated on the following parameters: 

 

									
	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]

 Rate Per EFH Adjustment 

a. Escalation. The Rate Per EFH shall adjust on an annual basis in accordance with the escalation formula set forth in Exhibit C of the Agreement.

 b. Severity. The Rate Per EFH will be adjusted when there is a deviation from the parameters above per the Price Adjustment Matrix to be
further mutually agreed by the Parties. Trip will provide information regarding the above parameters on a monthly basis and in a mutually agreed upon format in accordance with Article 6 of the Agreement. 

Supplemental Pricing. Supplemental Work Services will be performed by GE in accordante with pricing provisions set forth on Exhibit E of the
Agreement. This rate shall adjust on an annual basis in accordance with the escalation formula set forth on Exhibit F of the Agreement. 
 3.3 The
Parties agree to complement item 6.1 (Rate Per EFH Payments) of the Agreement to include the following paragraph: 
 “Regarding uniquely the Trip
E-195 Leased Fleet, only the Monthly Billing conditions shall be applicable.” 
 3.4 The Parties agree to complement Article 7.2 — Workscope
of the Agreement to include the following paragraph exclusively for Trip E-195 Leased Fleet: 
 “7.2.1 Workscope for Trip E-195
Leased Fleet. Prior to Induction, GE will prepare a Workscope in accordance with GE Workscope Planning Guide, Repair Manual and Repair specification , Customers Aircraft/Engine Maintenance Program, Customer’s General Maintenance
Manual and provide it to Customer for approval. Workscope shall incorporate the [*****] minimum build specification requirement of [*****] remaining before a next shop visit.” 

3.5 The Parties agree to complement item 11.2 (Reconciliation) of the Agreement to include the following reconciliation conditions exclusively for Trip E-195
Leased Fleet: 
 “Reconciliation for Trip E-195 Leased Fleet: 

1. If a removed Engine has not undergone a shop visit far Rate Per EFH Services, GE will credit to Trip within thirty (30) Days of such Engine’s
removal, all Rate Per EFH Payments received for such Engine since the date that such Engine entered the Agreement whichever occurred last, [*****] 

2. If a removed Engine has undergone at least one shop visit for Rate Per EFH Services. GE will calculate the total cumulative charges for all Rate Per EFH
Services provided for such removed Engine as if such Services were provided on a Supplemental Work basis and the Supplemental Work pricing had applied (“Supplemental Charges”). GE will then compare such Supplemental Charges to the total
cumulative Rate Per EFH Payments received from Trip for such removed Engine [*****]. If the Supplemental Charges are [*****] than the total cumulative Rate Per EFH Payments received from Trip, GE will [*****] for the difference. Trip will [*****]
within [*****] of receipt.” 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 4 of 8

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

4. GE shall make available to Trip a [*****] of [*****] of [*****]. These [*****] will be made available to Trip in the amounts on the dates outlined in
Attachment C hereto. 
 [*****] shall be issued to the Trip Within five (5) Days of Trip written request to GE subsequent to the issuance dates
Identified in Attachment C. Such [*****] may only be applied by Trip as follows: 
 Up to [*****] of such total [*****] can be used towards this Agreement
or Supplemental Work Invoices issued under this Agreement or any other purchase of aircraft engine services from GE under a separate OnPoint Overhaul (time and material or component repair only); provided that up to a maximum of [*****] of each
invoice amount may be paid with such [*****]; 
 Such [*****] will be issued and valid only if Trip is current in all payments due and is otherwise not in
material breach under this Agreement and any other applicable agreements to which [*****]. GE shall be entitled to set off from such [*****] any outstanding obligation and amounts that are due and owing from Trip to GE (and not subject to a good
faith dispute). Trip may carry over [*****]; however, [*****] must be applied by the end of the term of this Agreement. Any [*****] amounts outstanding at the end of the term of the Agreement will be canceled. 

All [*****] amounts are not subject to escalation and are subject to reduction for any change in the operating parameters (including number and delivery dates
of Engines) set forth in Article 5.2 that reduces the Contracted Hours. Contracted Hours are defined as the Annual Utilization multiplied by number of Engines multiplied by the number of years in the Term. 

If an Engine Is removed from the Agreement and has not incurred sufficient EFH to meet the Contracted Hours for that Engine, any remaining [*****] to be
issued shall be reduced and, within thirty (30) Days of such Engine’s removal, Trip shall [*****] to GE the [*****] on a pro-rata basis based on EFH incurred and for which GE has received all Rate Per EFH Payments under this Agreement. By
way of example only, if an Engine being removed has incurred and GE has received all Rate Per EFH Payments for [*****] and the total Contracted Hours for this Engine are [*****] then Trip shall [*****] to GE [*****] of the [*****] and paid against
such Engine as determined on a pro-rata basis based on the number of Engines covered by the Agreement. If GE has not received any Rate Per EFH Payments on the removed Engine, Trip shall [*****] to GE [*****] of the [*****] allocated and [*****]
against such Engine as determined on a pro-rata basis based on the number of Engines covered by the Agreement. 
 In the event of termination of this
Agreement due to any reason other than the material breach by GE, such [*****] will be cancelled and any amount issued and applied as of the time of termination shall be [*****] to GE by Trip within thirty (30) Days of termination of this
Agreement. 
 5. The Parties also agree that any other subsidiaries or affiliates of Holding that are, or may become, and continue to be subject to the
direct or indirect control of, or in which at least [*****] of its ownership is held by Holding might be included in the Agreement and referred to as Customer. 

6. Except as provided in this Amendment 9, all provisions of the Agreement and its Amendments 1 to 8 shall remain in full force and effect. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 5 of 8

 GE Engine Services, Inc. 

 

 IN WITNESS WHEREOF, the Parties have caused this Amendment 9 to be signed in duplicate by their duly
authorized officials as of the date written below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 

 

									
	Azul Trip S.A.	 		 	Azul Linhas Aéreas Brasileiras S.A.
					
	BY:	 	 /s/ John Peter Rodgerson
	 		 	BY:	 	 /s/ John Peter Rodgerson

	NAME:	 	 John Peter Rodgerson
	 		 	NAME:	 	 John Peter Rodgerson

	TITLE:	 	 Attorney in Fact
	 		 	TITLE:	 	 Attorney in Fact

	DATE:	 	  
	 		 	DATE:	 	  

			
	TRIP Linhas Aéreas S.A.	 		 	TRIP Linhas Aéreas S.A.
					
	BY:	 	 /s/ José Mario Caprioli dos Santos
	 		 	BY:	 	 /s/ Evandro Braga de Oliveira

	NAME:	 	 José Mario Caprioli dos Santos
	 		 	NAME:	 	 Evandro Braga de Oliveira

	TITLE:	 	 CEO
	 		 	TITLE:	 	 Management And Quality Director

	DATE:	 	  
	 		 	DATE:	 	  

			
	GE Engine Services, LLC	 		 	GE Celma Ltda.
					
	BY:	 	 /s/ Eduardo S. Wildberger
	 		 	BY	 	 /s/ João Moragas

	NAME:	 	 Eduardo S. Wildberger
	 		 	NAME	 	 João Moragas

	TITLE:	 	 Operations Director
	 		 	TITLE	 	 Finance Director

	DATE:	 	  
	 		 	DATE	 	  

				
	/s/ Thomas D. Hoferor	 		 		 	
	 Thomas D. Hoferor
	 		 		 	
	 Director, Engine Services
	 		 		 	
	 12 Feb 2013
	 		 		 	

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 6 of 8 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

ATTACHMENT A: TRIP E-195 LEASED FLEET 
  

			
	 [*****]
	  	 Delivery Date

	 [*****]
	  	December 2012
	 [*****]
	  	December 2012
	 [*****]
	  	February 2013
	 [*****]
	  	April 2013
	 [*****]
	  	May 2013

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 7 of 8

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

ATTACHMENT C: [*****] DISTRIBUTION SCHEDULE 
  

			
	 Date
	  	 [*****]

	January 2013	  	[*****]
	April 2013	  	[*****]
	July 2013	  	[*****]
	October 2013	  	[*****]
	January 2014	  	[*****]
	April 2014	  	[*****]
	July 2014	  	[*****]
	[*****]	  	[*****]
	[*****]	  	[*****]

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 8 of 8

 GE Engine Services, Inc. 

Amendment Number 10 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, LLC

 GE Celma Ltda. 
 And 

Azul Trip S.A. 
 Azul Linhas
Aéreas Brasileiras S.A. 
 Trip Linhas Aéreas S.A. 

Agreement Number: 1-1373258434 

Dated: March 28, 2013 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, LLC. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express
written consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information
contained in this document. Unauthorized export or re-export is prohibited. 

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 1 of 7 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

Amendment Number 10 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 Between 

GE Engine Services, LLC; GE CELMA Ltda. 

And 
 Azul Trip S.A.; Azul Linhas
Aereas Brasileiras S.A.; 
 Trip Linhas Aéreas S.A. 

THIS AMENDMENT Number 10 (“Amendment”) is made and is effective as of March 31, 2013 (the “Effective Date”) by and between Azul Trip
S.A., having a place of business at Av. Marcos Penteado de Ulhôa Rodrigues, 939, Torre Jatoba, 9th floor, Brazil 06.460-040 (“Holding”), Azul Linhas Aéreas Brasileiras S.A. (“Azul”), Trip Linhas Aéreas S.A.,
having a place of business at Avenida Cambacicas, 1200, Campinas, Brazil 13097-104 (“Trip”), GE Engine Services, LLC. (“GEES”) and GE Celma Ltda. (“GE Celma”), GEES and GE Celma are jointly referred to as
“GE”; Azul and Trip are jointly referred to as “Customer”; and all the signatories if this Amendment are hereinafter referred to as a “Party” or collectively, the “Parties” 

RECITALS 
 WHEREAS, the Parties have
entered into a OnPointsm Solutions Agreement, Number 1-1373258434 (“Agreement”), dated September 25, 2009; and Amendment 1 through 9; and 

WHEREAS, the Parties desire to amend the Agreement to add [*****] Aircraft powered with CF34-10E7 Engine and [*****] CF34-10E7 Spare Engines; and 

WHEREAS, the Parties desire to amend Section 5.5 of the Agreement to include supplementary [*****] to Customer; and 

WHEREAS, the Parties desire to amend Exhibit B of the Agreement in order to update the list of all Engines covered by the Agreement; and 

WHEREAS, the Parties desire to amend Exhibit N of the Agreement to adjust its tables in order to reflect the changes on Leased Aircraft delivery
schedules; and 
 WHEREAS, the Parties desire to establish additional terms for the usage of Azul’s and Trip [*****] at the Agreement; and 

WHEREAS, the Parties desire to amend the Agreement to reflect the foregoing. 

NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions contained herein, and other good and valuable
consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof. 

Capitalized terms used, and terms otherwise defined, in this Amendment shall have the meaning assigned to them under the Agreement. 

 

	1.	For the purposes of this Amendment, the [*****] Aircraft ([*****] Engines) and [*****] Spare Engines to be added to the Agreement shall be classified as follows: 

Group 1: [*****] Aircraft ([*****] Engines) identified in Attachment A.1 

Group 2: [*****] Aircraft ([*****] Engines) and [*****] Spare Engines identified in Attachment A.2 

Group 3: [*****] Aircraft ([*****] Engines) identified in Attachment A.3 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 2 of 7

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

If Customer decides to [*****] (the [*****] of Customer’s fleet), such [*****] shall be included in Group 2 above. 

 

	2.	The Parties agree to replace Exhibit B of the Agreement by the Attachment B hereto in order to update the detailed list of all Engines Covered by the Agreement until this date. 

 

	3.	Unless otherwise stated in this Amendment, all terms and conditions of the Agreement shall be applicable to these [*****] Engines and [*****] Spare Engines. 

 

	4.	The [*****] added Aircraft ([*****] Engines) and [*****] Spare Engines will be entitled to the Rate Per EFH Pricing set forth below, provided such Aircraft comply with Rate per EFH Operational Parameters set forth in
Article 5.2 of the Agreement. Rate Per EFH Services will be performed by GE at the Rate Per EFH as follows. 

  

					
	 Engines
	  	 Popular Rate
	  	 Restored Rate

	 Group 1
	  	[*****]	  	[*****]
	 Group 2
	  	[*****]	  	[*****]
	 Group 3
	  	Price as per Exhibit N of the Agreement

 All rates and prices are in [*****] US Dollars. Pricing will be escalated in accordance with escalation formula set forth on
Exhibit C of the Agreement, provided however that it shall not be subject to any escalation cap until the date aircraft is delivered as per Exhibit B of the Agreement, and as from such delivery date shall be subject to a [*****] escalation cap with
a Hyper-out of [*****] during the entire Term of the Agreement. 
 The above [*****] is applicable to all EFH incurred starting on the Effective Date. The
above [*****] is applicable to all EFH incurred since new. 
  

	5.	For the addition of such [*****] Aircraft ([*****] Engines) and the [*****] Spare Engines, GE shall make available to Customer the [*****] in the amounts and on the dates, as follows: 

 

					
	 Available at
	  	 [*****]
	  	 $ amount

	 April-13
	  	 to be used towards a [*****] loan of [*****] Thrust plugs from [*****] thrust rating [*****]
	  	$[*****]
	 April-13
	  	 to be used towards a [*****]-year loan of [*****] Thrust plugs from [*****] thrust rating [*****] leased from [*****]), or towards
this OnPoint invoices
	  	$[*****]
	 April-13
	  	 to be used towards this OnPoint invoices
	  	$[*****]
	 January-14
	  	 to be used towards [*****], as long as Customer [*****] units
	  	$[*****]
	 January-14
	  	 to be used towards this OnPoint invoices
	  	$[*****]
	 January-14
	  	 to be used towards an incremental [*****] ([*****]) if Customer decides to purchase the [*****]
	  	$[*****]
		  	 Total amount of [*****]
	  	$[*****]

 All terms and conditions set forth in Section 5.5 of the Agreement shall be applied to these [*****]. These [*****] are
all stated in [*****] US Dollars and are not subject to escalation. 
  

	6.	The Parties agree that the costs of the Shop Visit that is already on-going for the Engines with [*****] and [*****] will be charged as [*****] as per Article 4 and Exhibits E, F and G of the Agreement. The Parties also
agree that the next Shop Visit of [*****] Engines will be charged according to the Rate Per EFH Pricing and the [*****] will be retroactive until time since new (TSN) of each Engine. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 3 of 7

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

	7.	The Leased Aircraft Delivery Schedule contained on Exhibit N of the Agreement shall be replaced by the table below: 

Leased A/C delivery schedule 
  

									
	 [*****]
	  	 [*****]
	  	 [*****]
	  	 [*****]
	  	 [*****]

	[*****]	  	[*****]	  	[*****]	  	[*****]	  	November-10
	[*****]	  	[*****]	  	[*****]	  	[*****]	  	November-12
	[*****]	  	[*****]	  	[*****]	  	[*****]	  	To be defined
	[*****]	  	[*****]	  	[*****]	  	[*****]	  	To be defined
	[*****]	  	[*****]	  	[*****]	  	[*****]	  	To be defined
	[*****]	  	[*****]	  	[*****]	  	[*****]	  	To be defined
	[*****]	  	[*****]	  	[*****]	  	[*****]	  	To be defined
	[*****]	  	[*****]	  	[*****]	  	[*****]	  	To be defined
	[*****]	  	[*****]	  	[*****]	  	[*****]	  	To be defined
	[*****]	  	[*****]	  		  	[*****]	  	To be defined

  

	8.	The Parties agree that any [*****] owned by Azul or Trip in relation to: (i) this Agreement and its Amendments; (ii) the General Terms Agreement N. [*****] and its [*****] signed between Azul and General
Electric Company; and (iii) the General Terms Agreement N. [*****] and its Letters [*****] signed between Trip and General Electric Company, shall be used either by Azul or Trip [*****] of the Agreement, regardless the [*****].

 INTENTIONALLY LEFT BLANK 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 4 of 7

 GE Engine Services, Inc. 

 

 IN WITNESS WHEREOF, GE and Customer have caused this Amendment No. 10 to be signed in duplicate by their
duly authorized officials as of the date written below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 

 

									
	Azul Trip S.A.	 		 	Azul Linhas Aereas Brasileiras S.A.
					
	BY:	 	 /s/ John Peter Rodgerson
	 		 	BY:	 	 /s/ John Peter Rodgerson

	NAME:	 	 John Peter Rodgerson
	 		 	NAME:	 	 John Peter Rodgerson

	TITLE:	 	 Attorney in Fact
	 		 	TITLE:	 	 Attorney in Fact

	DATE:	 	  
	 		 	DATE:	 	  

				
	TRIP Linhas Aéreas S.A.	 		 		 	
					
	BY:	 	 /s/ Evandro Braga de Oliveira
	 		 		 	
	NAME:	 	 Evandro Braga de Oliveira
	 		 		 	
	TITLE:	 	 Management and Quality Director
	 		 		 	
	DATE:	 	  
	 		 		 	
	 Alexandre Wagner Malfitani
	 		 		 	
	 Attorney in Fact
	 		 		 	
			
	GE Engine Services, LLC	 		 	GE Celma Ltda.
					
	BY:	 	  
	 		 	BY:	 	  

	NAME:	 	  
	 		 	NAME:	 	  

	TITLE:	 	  
	 		 	TITLE:	 	  

	DATE:	 	  
	 		 	DATE:	 	  

  
 GE PROPRIETARY
INFORMATION-Subject to restrictions on the cover or first page. 
 Page 5 of 7 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

ATTACHMENT A - ADDED AIRCRAFT/ ENGINES 
 [*****]

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 6 of 7

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, Inc. 
  

ATTACHMENT B 
 EXHIBIT B: ENGINES
COVERED 
 Customer will maintain a spare Engine(s) to installed Engines ratio of not less than [*****], rounded up to the next whole Engine, during the
term of this Agreement. However, GE will work with Customer if the ratio falls slightly less than [*****]. 
  

							
	 [*****]

	 [*****]
	  	 [*****]
	  	 [*****]
	  	 [*****]

	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	[*****]
	[*****]	  	[*****]	  	[*****]	  	 
	[*****]	  	[*****]	  	[*****]	  	 

  

	
	[*****]
	[*****]
	[*****]
	[*****]
	[*****]
	[*****]

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 7 of 7

 GE Engine Services, LLC. 

Amendment Number 11 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, LLC

 GE CELMA Ltda. 
 And 

Azul S.A. 
 Azul Linhas
Aéreas Brasileiras S.A. 
 TRIP Linhas Aéreas S.A. 

Agreement Number: 1-1373258434 

Dated: June 13, 2013 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, LLC. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express
written consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information
contained in this document. Unauthorized export or re-export is prohibited. 
  

GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  
 Page 1 of 13 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, LLC. 
  

Amendment Number 11 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, LLC;
GE CELMA Ltda. 
 And 
 Azul
S.A.; Azul Linhas Aereas Brasileiras S.A.; 
 Trip Linhas Aéreas S.A. 

THIS AMENDMENT Number 11 (“Amendment”) is made and is effective as of June 13, 2013 (the “Effective Date”) by and between Azul S.A.
(“Holding”), Trip Linhas Aéreas S.A. (“Trip”), Azul Linhas Aéreas Brasileiras S.A. (“Azul”), GE Engine Services, LLC. (“GEES”) and GE Celma Ltda. (“GE Celma”), GEES and GE Celma are
jointly referred to as “GE”; Azul and Trip are jointly referred to as “Customer”; and all the signatories if this Amendment are hereinafter referred to as a “Party” or collectively, the “Parties”. 

RECITALS 
 WHEREAS, the Parties have
entered into a OnPointsm Solutions Agreement, Number 1-1373258434 (“Agreement”), dated September 25, 2009; and Amendment 1 through 10; and 

WHEREAS, the Parties desire to update the schedules contained in Exhibit B: Engines Covered of the Agreement; 

WHEREAS, the Parties desire to include an additional severity table in Exhibit D: Price Adjustment Matrix; 

WHEREAS, in accordance to item 5 of Amendment 10 to the Agreement, GE agreed to give to Customer, on [*****], a [*****] in case Customer decides to
purchase [*****] incremental [*****]; 
 WHEREAS, Customer has already decided to purchase and take Delivery of such Spare Engine, as per Letter
Agreement No. 5 to GTA No. 1-1190636254; and 
 WHEREAS, the Parties desire to amend the Agreement to reflect the foregoing. 

NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions contained herein, and other good and valuable
consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof. 

Capitalized terms used, and terms otherwise defined, in this Amendment shall have the meaning assigned to them under the Agreement. 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 2 of 13

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, LLC. 
  

 

	1.	The Parties agree to entirely replace Exhibit B: Engines Covered of the Agreement by the Attachment A hereto. 

  

	2.	The Parties also agree to entirely replace Exhibit D: Price Adjustment Matrix of the Agreement by the Attachment B hereto. 

  

	3.	GE hereby agrees [*****], the [*****] to be used toward the payment of the invoice of the 14 Spare Engine. 

  

	4.	The Parties also agree that [*****] to be used towards this Agreement and that would be available in April 2013, according to Amendment 10, will be [*****]. 

 

	5.	Regarding item 6 of Amendment 10, the Parties acknowledge that the Shop Visit for the Engine with [*****]; only the Shop Visit for Engines with [*****] The Parties also restate that the next Shop Visit of these 02
Engines will be charged according to the Rate Per EFH Pricing and the [*****] will be retroactive until time since new (TSN) of each Engine. 

  

	6.	Except as provided in this Amendment 11, all provisions of the Agreement and its Amendments 1 to 10 shall remain in full force and effect. 

IN WITNESS WHEREOF, GE and Customer have caused this Amendment No. 12 to be signed in duplicate by their duly authorized officials as of the date written
below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 
  

									
	Azul S.A.	 		 	Azul Linhas Aereas Brasileiras S.A.
					
	BY:	 	  
	 		 	BY:	 	  

					
	NAME:	 	  
	 		 	NAME:	 	  

					
	TITLE:	 	  
	 		 	TITLE:	 	  

					
	DATE:	 	  
	 		 	DATE:	 	  

				
	TRIP Linhas Aéreas S.A.	 		 		 	
					
	BY:	 	  
	 		 		 	
					
	NAME:	 	  
	 		 		 	
					
	TITLE:	 	  
	 		 		 	
					
	DATE:	 	  
	 		 		 	

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 3 of 13

 GE Engine Services, LLC. 

 

									
	GE Engine Services, LLC.	 		 	GE Celma Ltda.
					
	BY:	 	  
	 		 	BY:	 	  

					
	NAME:	 	  
	 		 	NAME:	 	  

					
	TITLE:	 	  
	 		 	TITLE:	 	  

					
	DATE:	 	  
	 		 	DATE:	 	  

  
 GE PROPRIETARY INFORMATION-Subject to
restrictions on the cover or first page. 

  
 Page 4 of 13 

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, LLC. 
  

ATTACHMENT A 
 EXHIBIT B:
ENGINES COVERED 
 Customer will maintain a spare Engine(s) to installed Engines ratio of [*****], during the term of this Agreement. However, GE
will work with Customer if the ratio [*****] 
 Aircraft Delivery Schedule 

 

					
	 [*****]
	  	 Delivery
Date
	  	 [*****]

	[*****]	  	Nov-08	  	[*****]
	[*****]	  	Dec-08	  	[*****]
	[*****]	  	Dec-08	  	[*****]
	[*****]	  	Dec-08	  	[*****]
	[*****]	  	Dec-08	  	[*****]
	[*****]	  	Feb-09	  	[*****]
	[*****]	  	Feb-09	  	[*****]
	[*****]	  	Mar-09	  	[*****]
	[*****]	  	Apr-09	  	[*****]
	[*****]	  	May-09	  	[*****]
	[*****]	  	Jun-09	  	[*****]
	[*****]	  	Jul-09	  	[*****]
	[*****]	  	Nov-09	  	[*****]
	[*****]	  	Dec-09	  	[*****]
	[*****]	  	Mar-10	  	[*****]
	[*****]	  	Jun-10	  	[*****]
	[*****]	  	Jul-10	  	[*****]
	[*****]	  	Jul-10	  	[*****]
	[*****]	  	Jul-10	  	[*****]
	[*****]	  	Aug-10	  	[*****]
	[*****]	  	Aug-10	  	[*****]
	[*****]	  	Oct-10	  	[*****]
	[*****]	  	Oct-10	  	[*****]
	[*****]	  	Oct-10	  	[*****]
	[*****]	  	Dec-10	  	[*****]
	[*****]	  	Dec-10	  	[*****]
	[*****]	  	Jan-11	  	[*****]
	[*****]	  	Feb-11	  	[*****]
	[*****]	  	Mar-11	  	[*****]
	[*****]	  	Apr-11	  	[*****]
	[*****]	  	Apr-11	  	[*****]
	[*****]	  	May-11	  	[*****]
	[*****]	  	May-11	  	[*****]
	[*****]	  	May-11	  	[*****]
	[*****]	  	Jun-11	  	[*****]
	[*****]	  	Jun-11	  	[*****]

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 5 of 13

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, LLC. 
  

					
	 [*****]
	  	 Delivery
Date
	  	 [*****]

	[*****]	  	Jul-11	  	[*****]
	[*****]	  	Aug-11	  	[*****]
	[*****]	  	Oct-11	  	[*****]
	[*****]	  	Oct-11	  	[*****]
	[*****]	  	Nov-11	  	[*****]
	[*****]	  	Nov-11	  	[*****]
	[*****]	  	Dec-11	  	[*****]
	[*****]	  	Dec-11	  	[*****]
	[*****]	  	Dec-11	  	[*****]
	[*****]	  	Dec-11	  	[*****]
	[*****]	  	Dec-11	  	[*****]
	[*****]	  	Dec-11	  	[*****]
	[*****]	  	Feb-12	  	[*****]
	[*****]	  	Mar-12	  	[*****]
	[*****]	  	Apr-12	  	[*****]
	[*****]	  	Apr-12	  	[*****]
	[*****]	  	May-12	  	[*****]
	[*****]	  	May-12	  	[*****]
	[*****]	  	Jun-12	  	[*****]
	[*****]	  	Nov-12	  	[*****]
	[*****]	  	Dec-12	  	[*****]
	[*****]	  	Dec-12	  	[*****]
	[*****]	  	Dec-12	  	[*****]
	[*****]	  	Dec-12	  	[*****]
	[*****]	  	Dec-12	  	[*****]
	[*****]	  	Dec-12	  	[*****]
	[*****]	  	Mar-13	  	[*****]
	[*****]	  	Apr-13	  	[*****]
	[*****]	  	Apr-13	  	[*****]
	[*****]	  	May-13	  	[*****]
	[*****]	  	May-13	  	[*****]
	[*****]	  	Jun-13	  	[*****]
	[*****]	  	Oct-13	  	[*****]
	[*****]	  	Nov-13	  	[*****]
	[*****]	  	Feb-14	  	[*****]
	[*****]	  	Mar-14	  	[*****]
	[*****]	  	Apr-14	  	[*****]
	[*****]	  	Jun-14	  	[*****]
	[*****]	  	Sep-14	  	[*****]
	[*****]	  	[*****]	  	[*****]

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 6 of 13

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, LLC. 
  

					
	[*****]	  	[*****]	  	[*****]

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 7 of 13

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, LLC. 
  

Spare Engine Delivery Schedule 
  

					
	 [*****]
	  	 Delivery Date
	  	 [*****]

	[*****]	  	Feb-09	  	[*****]
	[*****]	  	Jun-09	  	[*****]
	[*****]	  	Nov-09	  	[*****]
	[*****]	  	Jun-10	  	[*****]
	[*****]	  	Nov-10	  	[*****]
	[*****]	  	Jun-11	  	[*****]
	[*****]	  	Oct-11	  	[*****]
	[*****]	  	Dec-11	  	[*****]
	[*****]	  	Apr-12	  	[*****]
	[*****]	  	Jun-12	  	[*****]
	[*****]	  	Mar-13	  	[*****]
	[*****]	  	Jun-13	  	[*****]
	[*****]	  	Apr-14	  	[*****]
	[*****]	  	[*****]	  	[*****]

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 8 of 13

 CONFIDENTIAL TREATMENT REQUESTED 

GE Engine Services, LLC. 
  

ATTACHMENT B 
 EXHIBIT D:
PRICE ADJUSTMENT MATRIX 
 When the actual operating parameters do not precisely equal the values on the tables, severity will be calculated by
[*****] The resultant severity value [*****] The final severity applied will be [*****] 
 Should Customer’s actual operating parameters go beyond the
furthest points of the table provided, GE shall adjust the table to cover Customer’s updated operating parameters. Such adjusted table will be applied retroactively to the time Customer’s operating parameters moved beyond the points
provided and, if applicable, GE shall invoice or provide a credit to Customer for any amounts that would have been applicable if the rates on such table had been in effect at the time the flight hours were incurred. 

INTENTIONALLY LEFT BLANK 

CONFIDENTIAL TREATMENT REQUESTED 

CONFIDENTIAL TREATMENT REQUESTED 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 
  

 GE PROPRIETARY INFORMATION-Subject to restrictions on the cover or first page. 

  

					
	Page 9 of 13

 CONFIDENTIAL TREATMENT REQUESTED 

 

 [*****] 
  

[*****] Confidential material redacted and filed separately with the Securities and Exchange Commission. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 [*****] 
  

[*****] Confidential material redacted and filed separately with the Securities and Exchange Commission. 

 [*****] 
  

[*****] Confidential material redacted and filed separately with the Securities and Exchange Commission. 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 [*****] 
  

[*****] Confidential material redacted and filed separately with the Securities and Exchange Commission. 

 GE Engine Services, LLC. 

Amendment Number 12 to 
 OnPointSM OVERHAUL 
 ENGINE SERVICES AGREEMENT 

Between 
 GE Engine Services, LLC

 GE CELMA Ltda. 
 And 

Azul S.A. 
 Azul Linhas
Aéreas Brasileiras S.A. 
 TRIP Linhas Aéreas S.A. 

Agreement Number: 1-1373258434 

Dated: June 13, 2013 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, LLC. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express
written consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information
contained in this document. Unauthorized export or re-export is prohibited. 

  

			
	This Document is Proprietary to GE, Holding and Customer	  	Page 1 of 5

 Amendment Number 12 to 

OnPointSM OVERHAUL 

ENGINE SERVICES AGREEMENT 
 Between

 GE Engine Services, LLC; GE CELMA Ltda. 

And 
 Azul S.A.; Azul Linhas
Aereas Brasileiras S.A.; 
 Trip Linhas Aéreas S.A. 

THIS AMENDMENT Number 11 (“Amendment”) is made and is effective as of June 13, 2013 (the “Effective Date”) by and between Azul S.A.
(“Holding”), Trip Linhas Aéreas S.A. (“Trip”), Azul Linhas Aéreas Brasileiras S.A. (“Azul”), GE Engine Services, LLC. (“GEES”) and GE Celma Ltda. (“GE Celma”), GEES and GE Celma are
jointly referred to as “GE”; Azul and Trip are jointly referred to as “Customer”; and all the signatories if this Amendment are hereinafter referred to as a “Party” or collectively, the “Parties”. 

RECITALS 
 WHEREAS, the Parties have
entered into an OnPointSM Engine Services Agreement dated 25 September 2009, as amended and supplemented from time to time (the “OnPoint Agreement”) whereby GE has agreed to provide
the Services in exchange for payments to be made by Customer to GE Celma pursuant to the terms of the OnPoint Agreement; and 
 WHEREAS, pursuant to
five Letter Agreements (the “Letter Agreements”) entered into between GE, the Customer and certain lessors (as identified in each Letter Agreement) who lease or will lease the engines identified in Schedule A hereto (“Engines”)
to the Customer (each a “Lessor” and collectively the “Lessors”), the parties thereto have agreed upon certain provisions relating to the OnPoint Agreement to the extent relating to these specific Engines; and 

WHEREAS, the Parties desire to regulate certain matters relating to the OnPoint Agreement to the extent relating to the Engines; 

WHEREAS, the Parties desire to amend the Agreement to reflect the foregoing. 

NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions contained herein, and other good and valuable
consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof. 

 

	 	1)	Terms which are capitalized but not otherwise defined herein, shall have the meaning ascribed to them in the OnPoint Agreement. 

  

	 	2)	 Notwithstanding the provisions of Articles 5 and 6 of the OnPoint Agreement, the Parties agree that, for as long as the Engines remain subject to the
Letter 

  

			
	This Document is Proprietary to GE, Holding and Customer	  	Page 2 of 5

 CONFIDENTIAL TREATMENT REQUESTED 

 

	 	
Agreements, Customer will pay to GE Celma [*****] established in the respective Letter Agreement on a [*****] basis (the [*****]). 

 

	 	3)	If at any time, GE exercises its rights to terminate a Letter Agreement due to an [*****] (as such term is defined in the relevant Letter Agreement) in accordance with clause 18 of such Letter Agreement, the Parties
agree that the following arrangements will apply with respect to all payments made or to be made under the OnPoint Agreement with respect to the relevant Engine affected by such termination: 

 

	 	(a)	from the date on which the termination of the Letter Agreement takes effect, the Customer [*****] 

  

	 	(b)	in order to maintain the affected Engines covered by the OnPoint Agreement, the Parties agree that: [*****] 

  

	 	(c)	all [*****] paid by Customer to GE Celma since [*****] will be [*****] by GE according to the following criteria; 

  

	 	(i)	GE will calculate [*****] the OnPoint Agreement, as if [*****] 

  

	 	(ii)	GE will calculate the amount [*****] 

  

	 	(iii)	GE will determine the [*****] according to items (i) and (ii) above; 

  

	 	(iv)	GE will make this difference available to Customer in a form of a credit to be used by Customer under the OnPoint Agreement. 

  

	 	4)	Except as provided in this Amendment 11, all provisions of the Agreement and its Amendments 1 to 10 shall remain in full force and effect. 

 
 [*****] Confidential material redacted and filed separately with the Securities and
Exchange Commission. 

  

			
	This Document is Proprietary to GE, Holding and Customer	  	Page 3 of 5

 IN WITNESS WHEREOF, the Parties have caused this Amendment 9 to be signed in duplicate by their duly authorized
officials as of the date written below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 

 

									
	Azul S.A.	 		 	Azul Linhas Aereas Brasileiras S.A.
					
	BY:	 	  
	 		 	BY:	 	  

					
	NAME:	 	  
	 		 	NAME:	 	  

					
	TITLE:	 	  
	 		 	TITLE:	 	  

					
	DATE:	 	  
	 		 	DATE:	 	  

				
	TRIP Linhas Aéreas S.A.	 		 		 	
					
	BY:	 	  
	 		 		 	
					
	NAME:	 	  
	 		 		 	
					
	TITLE	 	  
	 		 		 	
					
	DATE:	 	  
	 		 		 	
			
	GE Engine Services, LLC.	 		 	GE Celma Ltda.
					
	BY:	 	  
	 		 	BY:	 	  

					
	NAME:	 	  
	 		 	NAME:	 	  

					
	TITLE:	 	  
	 		 	TITLE:	 	  

					
	DATE:	 	  
	 		 	DATE:	 	  

  

			
	This Document is Proprietary to GE, Holding and Customer	  	Page 4 of 5

 CONFIDENTIAL TREATMENT REQUESTED 

 

 SCHEDULE A 

THE ENGINES 
 [*****] 

 
 [*****] Confidential material redacted and filed separately with the Securities and
Exchange Commission. 

  

			
	This Document is Proprietary to GE, Holding and Customer	  	Page 5 of 5

 Amendment Number 13 to 

OnPointSM OVERHAUL 

ENGINE SERVICES AGREEMENT 
 Between

 GE Engine Services, LLC 
 GE
CELMA Ltda. 
 And 
 Azul S.A.

 Azul Linhas Aereas Brasileiras S.A. 

TRIP Linhas Aereas S.A. 

Agreement Number: 1-1373258434 

Dated: September 17, 2013 

PROPRIETARY INFORMATION NOTICE 
 The information
contained in this document is GE Engine Services, LLC. (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used, disclosed to others or reproduced without the express written consent of
GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information contained in this
document. Unauthorized export or re-export is prohibited. 

  

			
	This document is Proprietary to GE, Holding and Customer	  	Page 1 of 3

 CONFIDENTIAL TREATMENT REQUESTED 

 

 Amendment Number 13 to 

OnPointSM OVERHAUL 

ENGINE SERVICES AGREEMENT 
 Between

 GE Engine Services, LLC; GE CELMA Ltda. 

And 
 Azul S.A.; Azul Linhas
Aereas Brasileiras S.A.; 
 Trip Linhas Aereas S.A. 

THIS AMENDMENT Number 13 (“Amendment”) is made and is effective as of September 17, 2013 (the “Effective Date”) by and between Azul
S.A. (“Holding”), Trip Linhas Aereas S.A. (“Trip”), Azul Linhas Aereas Brasileiras S.A. (“Azul”), GE Engine Services, LLC. (“GEES”) and GE Celma Ltda. (“GE Celma”), GEES and GE Celma are jointly
referred to as “GE”; Azul and Trip are jointly referred to as “Customer”; and all the signatories if this Amendment are hereinafter referred to as a “Party” or collectively, the “Parties” 

RECITALS 
 WHEREAS, the Parties have
entered into an OnPointSM Engine Services Agreement dated 25 September 2009, as amended and supplemented from time to time (the “OnPoint Agreement”) whereby GE has agreed to provide
the Services in exchange for payments to be made by Customer to GE Celma pursuant to the terms of the OnPoint Agreement; and 
 WHEREAS, pursuant to
the section 5.5 of the OnPoint Agreement, as amended, GE shall make available to Customer [*****], according to the amounts and dates outlined in Exhibit L to the Agreement and 

WHEREAS, GE Celma provided maintenance, repair and overhaul services to Customer, and Customer desires to apply the [*****] towards such invoices. 

WHEREAS, the Parties desire to amend the Agreement to reflect the foregoing. 

NOW THEREFORE, in consideration of the foregoing premises and of the mutual covenants and conditions contained herein, and other good and valuable
consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree to the Agreement revision set forth below. This Amendment shall be effective as of the date hereof. 

 

	 	(1)	Terms which are capitalized but not otherwise defined herein, shall have the meaning ascribed to them in the OnPoint Agreement. 

  

	 	(2)	Customer desires to apply the [*****] towards such invoices and the Parties hereby agree on the utilization of the [*****] in the amount of [*****] towards invoices number [*****], [*****], [*****] and [*****]. issued
by GE Celma, totaling [*****] and equivalent to the amount of [*****] determined by using the average sell rate as of the date of invoice issuance for the United States Dollar as published by the Central Bank of Brazil through SISBACEN, PTAX-800,
option S. 

  

	 	(3)	Except as provided in this Amendment 13, all provisions of the Agreement and its Amendments 1 to 12 shall remain in full force and effect. 

 
 [*****] Confidential material redacted and filed separately with the Securities and
Exchange Commission. 

  

			
	This document is Proprietary to GE, Holding and Customer	  	Page 2 of 3

 IN WITNESS WHEREOF, the Parties have caused this Amendment 13 to be signed in duplicate by their duly
authorized officials as of the date written below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 

 

									
	Azul Trip S.A.	 		 	Azul Linhas Aereas Brasilieras S.A.
					
	By:	 	 /s/ John Peter Rodgerson
	 		 	By:	 	 /s/ John Peter Rodgerson

					
	Name:	 	John Peter Rodgerson	 		 	Name:	 	John Peter Rodgerson
					
	Title:	 	Attorney in Fact	 		 	Title:	 	Attorney in Fact
					
	Date:	 	  
	 		 	Date:	 	  

				
	TRIP Linhas Aéreas S.A.	 		 		 	
					
	By:	 	 /s/ John Peter Rodgerson
	 		 		 	
					
	Name:	 	John Peter Rodgerson	 		 		 	
					
	Title:	 	Attorney in Fact	 		 		 	
					
	Date:	 	  
	 		 		 	
			
	GE Engine Services, LLC.	 		 	GE Celma Ltda.
					
	By:	 	 /s/ Russell P. Shelton
	 		 	By:	 	 /s/ João B.G. Moragas         /s/ Julio Talon

					
	Name:	 	 Russell P. Shelton
	 		 	Name:	 	 João B.G. Moragas             Julio
Talon

					
	Title:	 	 MD Sales
	 		 	Title:	 	 Finance Director
                General Manager

					
	Date:	 	 18 September 2013
	 		 	Date:	 	  

  

			
	This document is Proprietary to GE, Holding and Customer	  	Page 3 of 3EX-10.7

 Exhibit 10.7 

CONFIDENTIAL TREATMENT REQUESTED - REDACTED COPY 

Confidential Treatment has been requested for portions of this Exhibit. Confidential 

portions of this Exhibit are designated by [*****]. A complete version of this Exhibit has 

been filed separately with the Securities and Exchange Commission. 

AGREEMENT FOR COMMERCIAL PURCHASE AND SALE AND OTHER COVENANTS, which is entered into between: 

PETROBRAS DISTRIBUIDORA S.A., with corporate taxpayer ID number [CNPJ] 34.274.233/0001-02, with its-office in the city of Rio de Janeiro, state of Rio de
Janeiro, at Rua General Canabarro 500, Ground Floor, 6th and 11th floors (partial), 12th
through 16th floors, represented here by its President, Mr. José Lima de Andrade Neto, bearer of drivers license number 26703881-8 – DETRAN/RJ and personal taxpayer ID number
[CPF] 102.994.085-15, and by its Consumer Market Officer, Mr. Andurte de Barros Filho, bearer of ID card number 49570D CREA-RJ and personal taxpayer ID number [CPF] 514.048.857-49, from here onwards referred to as “BR,” and, on the
other side, 
 AZUL LINHAS AÉREAS BRASILEIRAS S.A., with its head office at Alameda Surubiju 2010 and 2050, Block C, Alphaville, Barueri, SP, with
corporate taxpayer ID number [CNPJ/MF] 09.296.295/0001-60 represented here in accordance with its corporate bylaws and from here onwards referred to as the BUYER-PROMISOR, which will be governed by the following terms and conditions: 

SECTION 1 – PURPOSE 
 1.1. BR promises to sell to the
BUYER-PROMISOR and the latter, in turn, promises to buy from BR the quantities of QAV-1 aviation kerosene that represent the BUYER-PROMISOR’s [*****] consumption, at all the locations listed in Appendix I, on an [*****] and during a period of
[*****]. In the event of fueling abroad, the consumption will be stipulated according to a previous consultation between the parties. 
 1.1.1. The product
described in the item above is intended for the BUYER-PROMISOR’s own consumption, for the performance of its activity at the locations provided for in Appendix I. 

1.1.2. If BR comes to install new fueling stations at airports at which it does not currently supply QAV-1 aviation kerosene, and so long as the
BUYER-PROMISOR does not have regular operations and supply of aviation kerosene contracted for at that airport, the BUYER-PROMISOR is required to fulfill the [*****] clause in item 1.1 above, independent of an addendum to this agreement. 

1.1.3. BR undertakes to reduce the sales amounts of QAV-1 established in Appendix I for the BUYER-PROMISOR in the event of (i) [*****] in a percentage
equal to or greater than [*****] or (ii) at the end of the pipeline expansion work at the [*****] airport and at the other airports shown in Appendix I. 

SECTION 2 – PRICE AND PAYMENT CONDITIONS 
 2.1. The product
that is the object of this agreement will be sold by BR to the BUYER-PROMISOR and invoiced for at the price charged by BR on the day and at the place of delivery. 
  

[*****] Confidential material redacted and filed separately with the Securities and Exchange Commission. 

  
 1 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 2.2. The price composition in Brazil will observe: 

2.2.1. In the composition of the price of the QAV-1, the producer establishment price will observe the ordinances issued by the Ministry of Mines and Energy
and the National Petroleum, Natural Gas and Biofuels Agency (Agência Nacional do Petróleo, Gás Natrual e Biocombustíveis), or ANP, and all applicable legislation. 

2.2.2. The following will be added to the producer price: 

2.2.2.1. The portion called the “Fixed Differential,” the amount of which in R$/L (reais per liter) is specified in Appendix I, which, initialed by
the parties, is an integral part of this instrument, with an annual inflation adjustment at the rate of the General Market Price Index (Índice Geral de Preços – Mercado), or IGPM, which is published by the Brazilian
Institute of Geography and Statistics (Instituto Brasileiro de Geografia e Estatística), or IBGE. 
 2.2.2.2. The Variable Lease amount
charged by INFRAERO, the State Company that manages Brazilian airports, or by the company responsible for managing the infrastructure of the Airport in question, which, in the case of INFRAERO, represents [*****] of the price established in section
2.2; 
 2.2.2.3. The Tax on the Circulation of Merchandise and Services (Imposto sobre Circulação de Mercadorias e Serviços), or
ICMS, rate owed according to the rates for each Brazilian State, and any legally required taxes, rates and fees; 
 2.2.2.4. The finance charge amount will
be established at [*****] per month, calculated pro rata in relation to the payment period given to the BUYER-PROMISOR. 
 2.3. The special
“fixed price” pricing will take into account the market conditions for the period during which it will be applied to establish the price, in accordance with the process described in item 2.4 and its subitems. The BUYER-PROMISOR can freely
choose the period for its application, with it being the case that it must be at least [*****] and at most extend to the end of the effective term of this agreement. If the BUYER-PROMISOR wishes to qualify for this pricing option, it must request
evaluation rounds from BR on any business day that precedes the last business day of the month (n-2). 
 2.4. For the BUYER-PROMISOR to be able to evaluate
the viability of choosing the special “fixed price” pricing described in item 2.3, to be used at the [*****] airports, the following procedures must be observed during the evaluation rounds: 

2.4.1. When requesting a fixed-price offer, the BUYER-PROMISOR must choose to receive the offer of the fixed price that will be effective during the month
(n) in United States dollars or reais per liter, with all the taxes included. 
 2.4.2. In the event United States dollars are chosen, the amount will
be converted to reais per liter at the average United States dollar selling price during the period between the nineteenth (19th ) and twenty-third
(23rd ) days of the month (n-1), as published by the Brazilian Central Bank; 
  

[*****] Confidential material redacted and filed separately with the Securities and Exchange Commission. 

  
 2 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 2.4.3. D-Day: the BUYER-PROMISOR requests the following parameters from BR in writing:
monthly volume, the period and the maximum price of interest, by Supply Point; 
 2.4.4. D+1 Day: By 12:00 PM Brazilian time of the business day after the
day indicated in item 2.4.3, BR will state the following parameters in writing: price and monthly volume that can be sold at the “fixed rate” during the requested period, by Supply Point, and the BUYER-PROMISOR will confirm its intention
to contract by Supply Point at special prices by 12:20 PM Brasília time of the same day in writing. 
 2.4.5. D+2 Date: BR will confirm in writing
the monthly volume actually accepted with special pricing by Supply Point during the period requested by 12:00 PM Brasília time of the business day following the day stated in item 2.4.4; 

2.4.6. In the event there is more than one round in which this pricing is effectively accepted by the BUYER-PROMISOR, the fixed-price in effect during the
application period agreed to will be calculated at the weighted average of the prices and monthly volumes closed in the n-rounds, in accordance with the table below, rounded to four (4) decimal points: 

[*****] 
 [*****] 

2.5. The monthly volume the BUYER-PROMISOR effectively accepts with special “fixed price” pricing must be taken with priority and completely at each
Supply Point. If this contracted volume is not taken for any reason, the BUYER-PROMISOR will be responsible for reimbursing BR for the storage cost for the product, which will be [*****] per month on the contracted ex-refinery price. 

2.6. The product sold by BR will be measured at delivery and invoiced for payment on the following terms: 

 

	•	 	Product supplied from the [*****] day will be paid on the [*****] 

  

	•	 	Product supplied from the [*****] day will be paid on the [*****] 

  

	•	 	Product supplied from the [*****] day will be paid on the [*****] 

 2.7. It is understood that the payment
period is established because of the current market conditions. The parties undertake to re-examine the payment period by joint agreement if the current market conditions change. 

2.8. The payment must be made through bank deposit or at BR’s head office in the city of Rio de Janeiro or, also, at another location expressly indicated
by it for this purpose; 
  
 [*****] Confidential material redacted and filed separately
with the Securities and Exchange Commission. 

  
 3 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 2.9. The payment period that is referred to in item 2.6 is conditioned on the
BUYER-PROMISOR’s credit limit being established through the presentation of guarantees. 
 2.10. It is clarified between the contracting parties that
any price or payment period conditions provided to the BUYER-PROMISOR by BR that are different from those established in this instrument will be understood as mere liberality and can therefore be suspended or discontinued at any time at BR’s
exclusive option, without any type of right being established for the BUYER-PROMISOR. 
 2.11. If there is a delay in the payment of invoices, the
BUYER-PROMISOR will pay BR the debt adjusted according to the Interbank Certificate of Deposit (Certificado de Depósito Interbancário), or CDI rate, increased by late interest of [*****] per month, pro rata, and a fine of
[*****] on the adjusted debt amount, with the late charges being incident from the maturity date of the respective instruments. 
 2.12. If there is a delay
in the payment of the invoices, BR can require payment of the product price at the time of its delivery, in cash, from the BUYER-PROMISOR. 
 2.13. As a
guarantee of fulfillment of this Agreement, the BUYER-PROMISOR will present a Letter of Surety issued by a first-line Bank contracted for by the BUYER-PROMISOR in the amount of [*****]), valid for one year, with the BUYER-PROMISOR being responsible
for re-validating it for an additional three years. If the Letter of Surety is not renewed, the BUYER-PROMISOR will be obligated to pay a preestablished finance charge of [*****] per month. With the presentation of the Letter of Surety, the finance
charge is that established in section 2.2.2.4. 
 SECTION 3 – AIRCRAFT DEFUELING 

3.1. For the operations for defueling the BUYER-PROMISOR’s aircraft, the Parties agree a fixed price per defueling operation will be charged in the amount
of [*****]), plus a variable amount per liter defueled and refueled, corresponding to the amount of the fixed differential charged at the airport. 
 3.2.
When it is requested by the BUYER-PROMISOR and at the airports with availability for this type of operation, which are listed in Appendix II to these agreements, BR can conduct the operation of defueling aircraft. 

3.2.1. A request for defueling must be sent to the BR employee or BR reseller responsible for the airport where the service will be performed. The request
must be made in writing, through a document signed by an employee of the BUYER-PROMISOR or by an e-mail in which he or she is identified. BR will provide and keep updated a list with contact information for the managers at its bases, contained in
appendix II. 
 3.2.2. The receipt of the defueling request must comply with the prior notice period stated by BR to perform the service, in accordance with
appendix II. 
 3.2.3. The product that is defueled must be returned to the BUYER-PROMISOR by refueling in the same aircraft or another aircraft of the
BUYER-PROMISOR, [*****]. 
  
 [*****] Confidential material redacted and filed
separately with the Securities and Exchange Commission. 

  
 4 

 In cases where there is a suspicion of contamination of the defueled product, the fuel must be submitted to
analysis, storage and, when appropriate, disposal. The costs in reference to the analysis, storage and disposal will be stated in advance to the BUYER-PROMISOR and responsibility for them will be analyzed by the parties on a case-by-case basis. 

3.2.4. The defueled product will remain stored for maximum periods and in maximum volumes determined for each airport, as a function of each one’s
operating capacity. These periods and volumes are specified in appendix II to this agreement. 
 3.2.5. If the BUYER-PROMISOR does not comply with any of
the conditions defined above, BR reserves the right to not effectuate the defueling operations, on written notice to the BUYER-PROMISOR. 
 SECTION 4 –
BR’S OBLIGATIONS 
 4.1. These are BR’s specific responsibilities: 

4.1.1. To supply the QAV-1 necessary to meet the entire monthly consumption contracted by the BUYER-PROMISOR, at the locations defined in Appendix I, at times
compatible with the operation of its flights, listed on the Transportation Times (Horários de Transporte), or HOTRAN, published by the National Civil Aviation Agency (Agência Nacional de Aviação Civil) in
Brazil and according to local rules abroad, as well as all the BUYER-PROMISOR’s other unscheduled, charter, affreightment, training and repositioning flights that require fuel supply; 

4.1.2. To maintain prompt, quality service according to the standards agreed for operations of this type, making all possible efforts and using all possible
resources for good performance of the services contracted for here; 
 4.1.3. To zealously care for and protect the confidential information to which it has
access, as well as the assets and goods delivered by the BUYER-PROMISOR for performance of the services contracted for here; 
 4.1.4. To have personnel and
equipment appropriate for the performance of the services contracted for here; 
 4.1.5. To strictly fulfill the fueling of the BUYER-PROMISOR’s
aircraft on the days and times of its flights; 
 4.1.6. To give reasonable prior notice of any changes necessary for the fueling of the aircraft requested
by the BUYER-PROMISOR; 
 4.1.7. BR is fully responsible for its employees and agents who are members of its work team, for all their acts and actions,
including for any physical damage caused to the BUYER-PROMISOR’s aircraft and employees, as well as for any employment claims which could be brought against the buyer-promisor; 

  
 5 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 4.1.8. To maintain the quality of the products supplied within the technical
specifications, free of water or other contaminants, being required to keep the reports from the periodic tests necessary to prove this quality available; 

4.1.9. To comply with and see that its employees and agents comply with all the legal and regulatory requirements related to its activity as an Oil
Derivatives Distributor, especially the Resolutions, Ordinances and other rules issued by the Brazilian Government regulatory agency; 
 4.1.10. BR will not
be held liable for any lack of aviation kerosene at the locations and times alluded to in sub-item 4.1.1 when this lack results from Government Acts and any other events of force majeure or an act of God, in which case BR will make its best
efforts to maintain the supply to the BUYER-PROMISOR. In this case, the BUYER-PROMISOR will be able to acquire fuel from another supplier without this being considered a violation by the BUYER-PROMISOR of the [*****] supply established in this
agreement; 
 4.1.11. To conduct the defueling operations requested by the BUYER-PROMISOR, respecting the conditions established in this agreement; 

4.1.12. To keep the BUYER-PROMISOR informed regarding the reasons for any delays that occur in the fueling operations, defining the improvements necessary for
monitoring and optimizing operational performance; 
 4.1.13. To standardize the exchange of information about airports using the IATA abbreviation in the
delay reports, price schedule and other reports as agreed between the parties; 
 4.1.14. To maintain all the insurance necessary for the performance of the
services contracted for here, keeping all its employees and vehicles insured, including full coverage for harm caused to the BUYER-PROMISOR’s aircraft. 

4.2. BR undertakes to reimburse, directly or through an insurance company, any additional cost the BUYER-PROMISOR comes to bear that is shown to have
originated from any operational failures attributed to BR. 
 4.3. Taking into consideration that the BUYER-PROMISOR’s services are governed by the
National Civil Aviation Agency and the BUYER-PROMISOR must strictly maintain its departure times, BR must strictly observe and comply with the fueling times for the BUYER-PROMISOR’s flights, being solely and fully responsible for delays in the
departure times due to fueling failures. 
 4.3.1. BR undertakes to pay the BUYER-PROMISOR the amount of [*****] per flight that is not fueled, so long as
the reasons for the lack of supply are shown to be attributable to BR and that the incident occurs at the locations where BR maintains fueling facilities. 

4.4. BR will be solely and fully liable for any harm caused by its employees or equipment to the BUYER-PROMISOR’s aircraft, if its fault is proven. 

 
 [*****] Confidential material redacted and filed separately with the Securities and
Exchange Commission. 

  
 6 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 SECTION 5 – BUYER-PROMISOR’S OBLIGATIONS 

5.1. These are the BUYER-PROMISOR’s specific responsibilities, as well as the others implicitly or explicitly contained in the various terms and
conditions of this agreement: 
 5.1.1. To acquire all of its global consumption of QAV-1 at the locations specified in Appendix I from BR [*****] 

5.1.2. To consult BR regarding the possibility of service at locations where BR is not present at the airport, whether in Brazil or abroad. 

5.1.3. To make the payments of the amounts corresponding to the supply provided by BR, according to that stipulated in section 2 of this instrument. 

5.1.4. To not assign, subrogate, negotiate or, in any form or by any method, transfer this agreement or any rights or obligations arising from it, under
penalty of the sanctions provided for in the agreement. 
 5.1.5. To comply with and ensure compliance with all the Laws and Regulations, positions and
rules in effect in relation to the performance of its activities, accepting liability for the payment of any amounts spent by BR or any loss it comes to suffer as a direct or indirect results of the breach of this obligation; 

5.1.6. To maintain and preserve all the materials, elements and items that bear the BR brand in perfect condition, operation, cleanliness and presentation
while the fueling lasts, including preserving the environment. 
 5.1.7. Bearing in mind that BR products have adequate quality, ensuring the BUYER-PROMISOR
certainty of the quality standards of the products supplied to it, the BUYER-PROMISOR undertakes to verify the quality control of the products received and the exact performance of this agreement, particularly in regard to the safety, health and
environmental conservation rules. 
 SECTION 6 – TERMINATION OF THE AGREEMENT 

6.1. This agreement can be rescinded by operation of law at the option of the other party by simple notification or judicial or extrajudicial formal notice,
with the fine provided for in item 6.2 and in section 6 being applied to the party that causes the rescission of the agreement, in any of the following cases: 

6.1.1. If the party that failed to perform any of its obligations, after it was given notice to cure or cease such breach, has not done so by the deadline
stated in the mentioned notice; 
 6.1.2. Court-supervised or extrajudicial liquidation of either of the parties; 

6.1.3. Request for Court-Supervised Restructuring, request for, declaration of or ratification of bankruptcy; 

 
 [*****] Confidential material redacted and filed separately with the Securities and
Exchange Commission. 

  
 7 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 6.1.4. Failure by the BUYER-PROMISOR to promptly pay an invoice for the purchase of a
product from BR that continues for [*****] days; 
 6.2. The rescission of this instrument, on the basis of items 6.1.1 or 6.1.4, will subject the party
that causes the rescission to the payment, to the other party, of a fine that must equal the result of the following multiplication: [*****] 
 [*****] 

6.3. This agreement can be terminated by operation of law by the BUYER-PROMISOR from [*****] and without it being subject to any expenses, whether as
indemnification, fine or of any other type, so long as it presents a formal proposal from another company that supplies QAV-1 (“Proposing Company”) to BR with a Fixed Differential less than that charged at the time of the
presentation of the proposal and BR declares in writing within fifteen (15) days after the receipt of the mentioned proposal from the BUYER-PROMISOR that it does not intend to at least meet the amounts proposed by the Proposing Company. 

6.3.1. If BR does not make a statement by the fifteen (15) day deadline, the BUYER-PROMISOR will consider that BR does not intend to offer amounts better
than those proposed by the Proposing Company, with this agreement terminating in the manner established in section 6.3 above, with relation to the location(s) where BR cannot meet the offered fixed Differential. The Agreement will remain in effect
and unchanged for the other airports. 
 6.3.2. For the location(s) where there is termination of the agreement (item 6.3), BR will be able to cease supply
to the BUYER-PROMISOR seven days after the date of the notice from BR stating it will not meet the presented proposal. 
 6.3.3. If BR meets the Proposing
Company’s offer, the BUYER-PROMISOR can only present a new proposal of amounts issued by the Proposing Company or by any other company that supplies QAV-1 after a period of [*****] has run from the presentation of the previous proposal by the
BUYER-PROMISOR to BR, regardless of locations. These rules prevail in compliance with the periods mentioned above until the end of the effective term of this agreement. 

SECTION 7 – ACT OF GOD AND FORCE MAJEURE  
 7.1.
Neither of the parties can be held liable for failure to fulfill the obligations under this agreement if such failure is caused by force majeure or an act of God, under article 393 of the Brazilian Civil Code. 

 
 [*****] Confidential material redacted and filed separately with the Securities and
Exchange Commission. 

  
 8 

 7.2. The applicability of this agreement will be suspended if there is an event of force majeure or an act
of God that impedes its fulfillment by either of the parties, with its performance continuing as soon as the cause that gave rise to the suspension ends. 

7.3. If the suspension mentioned in item 7.2 above occurs, the effective term of this agreement will be automatically extended by the time necessary to
compensate for the period during which performance of the agreement was suspended. 
 SECTION 8 – REGULATORY AGENCY 

8.1. The BUYER-PROMISOR undertakes to reimburse BR for any fines that the latter is subject to as a result of the BUYER-PROMISOR’s violation of orders and
instructions from the National Petroleum, Natural Gas and Biofuels Agency (Agência Nacional do Petróleo, Gás Natrual e Biocombustíveis), or ANP, and/or other agencies with jurisdiction to regulate the sale and
distribution of petroleum derivative and ethanol products and products from other sources of energy in either Brazil or abroad. 
 8.2. The supply of the
products indicated in item 1.1 is subordinated to the normal market supply conditions and subject to changes that may be imposed in Brazil by the ANP and/or by other agencies with jurisdiction to regulate the supply of petroleum derivatives, ethanol
and other sources of energy in Brazil and abroad, including in regard to prices, delivery deadlines and payment. 
 SECTION 9 – FUEL PANEL OPERATION

 9.1. BR will also provide the services of operating the BUYER-PROMISOR’s aircraft panel. 

9.2. To perform the panel operation service, BR’s operator must first go through training provided by the BUYER-PROMISOR, which will be liable for all
costs. The BUYER-PROMISOR must also provide continuing retraining for the teams BR subcontracts, as needed. 
 9.3. BR will make a team of operators
available at the stipulated time, so long as the BUYER-PROMISOR request the service seven (7) business days in advance. 
 9.4. If there is some change
in the aircraft or the equipment used by the BUYER-PROMISOR that comes to interfere in panel operation, BR must be advised ten (10) days in advance, with the BUYER-PROMISOR being responsible for providing the necessary operator retraining,
always bearing the necessary costs. 
 9.4.1. If the BUYER-PROMISOR does not inform BR regarding the changes made and this alters panel operation, or of the
inclusion of aircraft models different from those for which the employees have been trained in its fleet, the BUYER-PROMISOR will be exclusively liable for any improper procedures performed by BR’s workers and for the harm they may cause. 

9.4.2. Panel operation can be performed at all the airports were BR has aircraft supply facilities. 

  
 9 

 9.5. Panel operation service is in compliance with the description provided for in “QAMF” Fueling
Procedures,” as level 2 and 3, based on IATA Manual standard into-plane supply procedures. These Fueling Procedures (FP) are incorporated into this agreement as Appendix III. 

9.6. The BUYER-PROMISOR can monitor BR’s or its subcontractors’ training and procedures at any time. 

SECTION 10 – EMPLOYMENT LIABILITY 
 10.1. With the nature of
this Agreement and of the services that make up its purpose being respected, the professionals hired by BR to perform the services contracted for here will be subordinated to BR’s rules and orders and will have an employment relationship with
BR only, with no other employment relationship between these professionals and the BUYER-PROMISOR being established. 
 10.2. Any and all costs or expenses,
whether of an employment nature or not, that involve the professionals hired by BR, including, but not limited to, the payment of salary, overtime, additional payments, charges related to the National Social Security Institute (Instituto Nacional
do Seguro Social), or INSS, or to the Employee’s Time in Service Guarantee Fund (Fundo de Garantia do Tempo de Serviço), or FGTS, expenses and attorneys fees related to employment lawsuits and damages, will be BR’s sole
and exclusive responsibility. 
 10.3. BR undertakes to hold the BUYER-PROMISOR harmless from any and all employment liability that, under this Agreement,
is not the BUYER-PROMISOR’s liability, including the civil and employment liabilities mentioned in this Section 10 above, and undertakes to indemnify the BUYER-PROMISOR for any and all losses the BUYER-PROMISOR may bear, suffer or incur as
a result of the attribution of employment liabilities to the BUYER-PROMISOR that, under this Agreement, are attributable to BR. 
 SECTION 11 –
SUCCESSION 
 11.1. The obligations assumed here extend to the successors and/or assigns of the contracting parties and to all the persons who come to
operate and/or be subrogated in the BUYER-PROMISOR’s activity, for any reason, with any contracting party being released from its obligations only through the other party’s written consent. 

SECTION 12 – TOLERANCE 
 12.1. Any tolerance by one party in
relation to any contractual violations of the other party will not result in a novation or the waiver of the rights that are assured it by law and by this instrument. 

SECTION 13 – TAXES 
 13.1. All the taxes (taxes, fees,
contribution taxes or para-tax charges and any emoluments) directly or indirectly resulting from this agreement or from its performance will be the exclusive responsibility of the party required to pay the same, in the manner defined by tax law,
without that party having a right to any reimbursement from the other party for any reason whatsoever. 

  
 10 

 SECTION 14 – ENVIRONMENTAL LIABILITY 

14.1. The parties accept liability for compliance with laws and regulations relating to environmental protection, including for obtaining and keeping valid all
the licenses, authorizations and studies required for the full performance of their activities and also must take the appropriate measures and perform the appropriate procedures to prevent any damage, danger or risk of harm to the environment that
may be caused by the activities it conducts, even if through subcontractors or delegated to third parties. 
 SECTION 15 – CONFIDENTIALITY 

15.1. The parties agree that the conditions contained in this agreement cannot be supplied or revealed to third parties and guarantee that only the employees
who actually need them will have access to these conditions. 
 15.2. The parties undertake to keep the information referred to in item 14.1 above
confidential for three (3) years from the date this agreement terminates. 
 15.3. Information requested by any government body or agency, regulatory
agency or as determined by law can be provided. In any of these cases, however, the decision must be immediately communicated to the other party so that it may oppose the request. Failure to communicate this will be a breach of contract. 

SECTION 16 – DIRECT IMPORTATION BY THE BUYER-PROMISOR 

16.1. The parties agree that the BUYER-PROMISOR can negotiate, buy and directly import the QAV-1 aviation fuel it needs for its regular operations from a
supplier abroad, under the terms and conditions allowed by Brazilian law. 
 16.2. BR will be the distributor of the aviation kerosene acquired abroad by
the BUYER-PROMISOR in Brazil, with the parties being required to opportunely negotiate in good faith regarding the amount of the same and the conditions of the service. 

16.3. BR can only be held liable for the into-plane operation of this product. The other operations that precede the arrival of this product in BR’s
tanks at the airports are the BUYER-PROMISOR’s responsibility. 
 16.4. The product to be delivered to BR’s tanks must be in accordance with the
quality rules established by the ANP and BR may refuse to receive this product if it does not comply with the specifications in effect. 
 SECTION 17 –
FINAL PROVISIONS 
 17.1. The BUYER-PROMISOR and BR declare, for all legal purposes and effects, that the terms contained in this instrument resulted from
negotiations conducted between the parties. 

  
 11 

 17.2. The parties undertake not to use, in any of the activities related to the performance of this instrument,
child labor, under article 7(XXXIII) of the Brazilian Constitution in effect, as well as to make efforts so that this measure is adopted in the agreements signed with the suppliers of their inputs and/or service providers. 

17.3. The parties undertake not to use labor in degrading work conditions in any of the activities related to the performance of this instrument, under
penalty of suspension of the agreement and the application of the defaults and rescission penalties provided for in this agreement. 
 SECTION 18 –
APPLICABLE LAW AND VENUE FOR THE AGREEMENT 
 18.1. This agreement will be governed by Brazilian law. 

18.2. It is agreed that the venue for this agreement is the city of Rio de Janeiro, state of Rio de Janeiro, to the exclusion of all others, and that, in the
event of litigation, the party in breach will bear the judicial and extrajudicial expenses and costs, as well as the attorneys’ fees calculated on the judgment amount. 

And, having so agreed and contracted, they sign this instrument in two (2) identical copies, in the presence of two (2) witnesses, so that it has
its proper and legal effects. 
 Rio de Janeiro, February 1, 2012. 
  

			
	 /s/ José Lima de Andrade Neto
	  	 /s/ Andurte de Barros Filho

	 José Lima de Andrade Neto
	  	Andurte de Barros Filho
	 PETROBRAS DISTRIBUIDORA S/A
	  	PETROBRAS DISTRIBUIDORA S/A

  

			
	 /s/ John Rodgerson
	 	
	 John Rodgerson
	 	
	 AZUL LINHAS AÉREAS BRASILEIRAS S.A.
	 	

 WITNESSES: 
  

			
	 /s/ Francelino da Silva Paes
	  	 /s/ Claudio Dissenha Portes

	 NAME: Francelino da Silva Paes
	  	NAME: Claudio Dissenha Portes
	 Taxpayer ID [CPF/MF]: 013.585.757-03
	  	Taxpayer ID [CPF/MF]: 301.878.009-44

  
 12 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 APPENDIX I – Fixed Differentials 

 

							
	 Airport
	  	 ICAO
	  	 IATA
	  	 [*****]

	 Confins
	  	SBCF	  	CNF	  	[*****]
	 Aracaju
	  	SBAR	  	AJU	  	[*****]
	 Belem
	  	SBBE	  	BEL	  	[*****]
	 Belo Horizonte
	  	SBBH	  	PLU	  	[*****]
	 Brasilia
	  	SBBR	  	BSB	  	[*****]
	 Boa Vista
	  	SBBV	  	BVB	  	[*****]
	 Campo Grande
	  	SBCG	  	CGR	  	[*****]
	 Caldas Novas
	  	SBCN	  	CLV	  	[*****]
	 São J. dos Pinhais
	  	SBCT	  	CWB	  	[*****]
	 Caxias do Sul
	  	SBCX	  	CXJ	  	[*****]
	 Várzea Grande
	  	SBCY	  	CGB	  	[*****]
	 Manaus
	  	SBEG	  	MAO	  	[*****]
	 Florianópolis
	  	SBFL	  	FLN	  	[*****]
	 Fortaleza
	  	SBFZ	  	FOR	  	[*****]
	 Galeão
	  	SBGL	  	GIG	  	[*****]
	 Goiânia
	  	SBGO	  	GYN	  	[*****]
	 Guarulhos
	  	SBGR	  	GRU	  	[*****]
	 Juiz de Fora
	  	SBFJ	  	JDF	  	[*****]
	 João Pessoa
	  	SBJP	  	JPA	  	[*****]
	 Juazeiro do Norte
	  	SBJU	  	JDO	  	[*****]
	 Campinas
	  	SBKP	  	VCP	  	[*****]
	 Londrina
	  	SBLO	  	LDB	  	[*****]
	 Marília
	  	SBML	  	MII	  	[*****]
	 Maceió
	  	SBMO	  	MCZ	  	[*****]
	 Natal
	  	SBNT	  	NAT	  	[*****]
	 Porto Alegre
	  	SBPA	  	POA	  	[*****]
	 Palmas
	  	SBPJ	  	PMW	  	[*****]
	 Petrolina
	  	SBPL	  	PNZ	  	[*****]
	 Porto Seguro
	  	SBPS	  	BPS	  	[*****]
	 Recife
	  	SBRF	  	REC	  	[*****]
	 Santos Dumont
	  	SBRJ	  	SDU	  	[*****]
	 Ribeirão Preto
	  	SBRP	  	RAO	  	[*****]
	 São J. dos Campos
	  	SBSJ	  	SJK	  	[*****]
	 São Luís
	  	SBSL	  	SLZ	  	[*****]
	 Congonhas
	  	SBSP	  	CGH	  	[*****]
	 São J. do Rio Preto
	  	SBSR	  	SJP	  	[*****]
	 Salvador
	  	SBSV	  	SSA	  	[*****]
	 Comandatuba
	  	SBTC	  	UMA	  	[*****]
	 Teresina
	  	SBTE	  	THE	  	[*****]
	 Uberlândia
	  	SBUL	  	UDI	  	[*****]
	 Uberaba
	  	SBUR	  	UBA	  	[*****]
	 Vitória
	  	SBVT	  	VIX	  	[*****]
	 São Carlos
	  	SDSC	  	QSC	  	[*****]
	 Bauru
	  	SJTC	  	JTC	  	[*****]
	 Navegantes
	  	SBNF	  	NVT	  	[*****]
	 Maringá
	  	SBMG	  	MGF	  	[*****]
	 Goiânia (Zona da Mata)
	  	SDZY	  	IZA	  	[*****]

  
 [*****] Confidential material redacted and filed
separately with the Securities and Exchange Commission. 

  
 13 

 APPENDIX II – Aircraft Defueling 

 

																					
	 AIRPORT
	  	IATA	  	MANAGER	  	TELEPHONE	  	SPECIFIED JET A-1	  	JET A-1 SUSPECTED OF
CONTAMINATION	 
	  	  	  	  	MAXIMUM
VOLUME	 	  	ADVANCE NOTICE	  	MAXIMUM
VOLUME	 	  	ADVANCE
NOTICE	 
	 CONGONHAS
	  	CGH	  	Adriana	  	11-5031-8204	  	 	17 m3	  	  	1.5 hours	  	 	17 m3	  	  	 	10 hours	  
		  		  	Guimarães	  	11-9622-2567	  				  		  				  			
								
	 GUARULHOS
	  	GRU	  	Carlos	  	11-6445-5915	  	 	18 m3	  	  	2.5 hours	  	 	30 m3	  	  	 	10 hours	  
		  		  	Rodrigues	  	11-9919-3019	  				  	Except from 7:30	  				  			
		  		  		  		  				  	to 11:00 and from	  				  			
		  		  		  		  				  	20:00 to 23:00	  				  			
								
	 SÃO JOSÉ
	  	SJK	  	Carlos	  	19-3725-5788	  	 	18 m3	  	  	2.5 hours	  	 	51 m3	  	  	 	10 hours	  
	 DOS
	  		  	Rodrigues	  	19-9798-7331	  				  		  				  			
	 COMPOS [sic]
	  		  		  		  				  		  				  			
								
	 PORTO
	  	POA	  	Luiz Tadeu	  	51-3358-2089	  	 	12 m3	  	  	4 hours	  	 	17 m3	  	  	 	6 hours	  
	 ALEGRE
	  		  	Pacheco	  	51-9973-9407	  				  		  				  			
								
	 BRASÍLIA
	  	BSB	  	Ernesto	  	61-3365-3105	  	 	50 m3	  	  	<5 m3 =1 hour	  	 	37 m3	  	  	 	10 hours	  
		  		  	Denti	  		  				  	>5m3p 2 hours	  				  			
								
	 CAMPINAS
	  	VCP	  	Rogerio	  	19-3725-5788	  	 	38 m3	  	  	2 hours	  	 	30 m3	  	  	 	10 hours	  
		  		  	Leite	  	19-9798-7331	  				  		  				  			
								
	 CAMPO
	  	CRG	  	Beltrão	  	19-3725-5787	  	 	10 m3	  	  	2 hours	  	 	30 m3	  	  	 	10 hours	  
	 GRANDE
	  		  	Lopes	  		  				  		  				  			
		  		  	Júnior	  		  				  		  				  			
								
	 GALEÃO
	  	GIG	  	Alexandre	  	21-3398-5333	  	 	120 m3	  	  	<5 m3 =1 hour	  	 	120 m3	  	  	 	6 hours	  
		  		  	Melo	  		  				  	>5m3p 2 hours	  				  			
								
	 CONFINS
	  	CNF	  	Luis	  	31-3689-2120	  	 	30 m3	  	  	1 hour	  	 	30 m3	  	  	 	6 hours	  
		  		  	Claudio	  	31-9977-4688	  				  		  				  			
								
	 RECIFE
	  	REC	  	Roberto	  	81-3464-4630	  	 	18 m3	  	  	4 hours	  	 	35 m3	  	  	 	10 hours	  
								
	 SALVADOR
	  	SSA	  	Tiago	  	71-3204-1054	  	 	33 m3	  	  	4 hours	  	 	30 m3	  	  	 	10 hours	  
		  		  	Dezordi	  	71-9918-9704	  				  		  				  			

  
 14 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 APPENDIX III – [*****] 

[*****] 
  

[*****] Confidential material redacted and filed separately with the Securities and Exchange Commission. 

  
 15 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 FIRST ADDENDUM TO THE AGREEMENT FOR COMMERCIAL PURCHASE AND SALE AND OTHER COVENANTS,
which is entered into between: 
 PETROBRAS DISTRIBUIDORA S.A., with its head office at Rua General Canabarro 500, Ground Floor, 6th and 11th floors (partial), 12th through
16th floors, in the city of Rio de Janeiro, with corporate taxpayer ID number [CNPJ] 34.274.233/0001-02, represented here in accordance with its corporate bylaws, by its Executive Manager for
Aviation Products, Mr. Francelino da Silva Paes, from here onwards referred to as “BR”; and 
 AZUL LINHAS AÉREAS BRASILEIRAS S.A.,
with its head office at Alameda Surubiju 2010 and 2050, Block C, Alphaville, Barueri, SP, with corporate taxpayer ID number [CNPJ/MF] 09.296.295/0001-60 represented here in accordance with its corporate bylaws and from here onwards referred to as
the BUYER-PROMISOR; 
 Whereas BR and the BUYER-PROMISOR entered into an Agreement for Commercial Purchase and Sale and Other Covenants for the supply, by
the former, of QAV-1 aviation kerosene; 
 Whereas the Parties intend to change the amount of the “Fixed Differential” and the aircraft defueling
amount from the mentioned agreement; 
 The Parties resolve to enter into this ADDENDUM, which is to be governed by the following terms: 

I – The Parties agree to amend “Appendix I – Fixed Differentials” from the Agreement, with this instrument coming to be effective. 

II – The Parties agree to change the defueling amount provided for in item 3.1 of section 3, with the following wording come to be effective: 

3.1. For the BUYER-PROMISOR aircraft defueling operations, the Parties agree that a fixed price will be charged per defueling operation in the
amount of [*****], plus a variable amount per liter defueled and refueled, corresponding to the amount of the fixed differential charged at the airport. 

III – The contracting parties expressly ratify all the terms and conditions of the agreement amended here that were not expressly amended by this
instrument. 
 And, having so agreed and contracted, the Parties sign this instrument in three (3) identical copies, in the presence of two witnesses,
who also sign it. 
 Rio de Janeiro, November 1, 2012. 
  

			
	 PETROBRAS DISTRIBUIDORA S/A
	  	PETROBRAS DISTRIBUIDORA S/A
		
	 Francelino da Silva Paes
	  	Cláudio Dissenha Portes

  
 [*****] Confidential material redacted and filed
separately with the Securities and Exchange Commission. 

  
 16 

  

			
	 /s/ Francelino da Silva Paes
 AZUL LINHAS
AÉREAS BRASILEIRAS S.A.
 Renato Covelo
 Agent
	  	/s/ Cláudio Dissenha Portes
		
	 WITNESS: /s/ Rodrigo Mota Guimarães
	  	WITNESS: /s/ Guilherme Paixaõ Rodrigues Pereira
		
	 NAME: Rodrigo Mota Guimarães
	  	NAME: Guilherme Paixaõ Rodrigues Pereira
	 ID [RG]: 10553977-8
	  	ID [RG]: 12653843-6
	 Taxpayer ID [CPF/MF]: 053.009.147-03
	  	Taxpayer ID [CPF/MF]: 098181457-39

  
 17 

 CONFIDENTIAL TREATMENT REQUESTED 

 
 APPENDIX I – Fixed Differentials 

 

					
	 LOCALE/AIRPORT
	  	[*****]	  	[*****]
	 BAURU
	  	[*****]	  	[*****]
	 ARACAJU
	  	[*****]	  	[*****]
	 ALTA FLORESTA
	  	[*****]	  	[*****]
	 BELEM
	  	[*****]	  	[*****]
	 BRASILIA
	  	[*****]	  	[*****]
	 BOA VISTA
	  	[*****]	  	[*****]
	 BARRA DO GARÇAS
	  	[*****]	  	[*****]
	 CAMPO GRANDE
	  	[*****]	  	[*****]
	 PARAUAPEBAS
	  	[*****]	  	[*****]
	 CRICIUMA
	  	[*****]	  	[*****]
	 CALDAS NOVAS
	  	[*****]	  	[*****]
	 CAMPOS DOS GOYTACAZES
	  	[*****]	  	[*****]
	 CORUMBA
	  	[*****]	  	[*****]
	 SÃO JOSÉ DOS PINHAIS
	  	[*****]	  	[*****]
	 CAXIAS DO SUL
	  	[*****]	  	[*****]
	 VARZEA GRANDE
	  	[*****]	  	[*****]
	 CRUZEIRO DO SUL
	  	[*****]	  	[*****]
	 MANAUS
	  	[*****]	  	[*****]
	 FLORIANÓPOLIS
	  	[*****]	  	[*****]
	 FORTALEZA
	  	[*****]	  	[*****]
	 RIO DE JANEIRO (GALEÃO)
	  	[*****]	  	[*****]
	 GOIÂNIA (ZONA DA MATA)
	  	[*****]	  	[*****]
	 GUARULHOS
	  	[*****]	  	[*****]
	 ALTAMIRA
	  	[*****]	  	[*****]
	 ITAITUBA
	  	[*****]	  	[*****]
	 BAYEUX
	  	[*****]	  	[*****]
	 JUAZEIRO DO NORTE
	  	[*****]	  	[*****]
	 CAMPINAS
	  	[*****]	  	[*****]
	 LONDRINA
	  	[*****]	  	[*****]
	 MARABÁ
	  	[*****]	  	[*****]
	 MACAÉ
	  	[*****]	  	[*****]
	 MARÍLIA
	  	[*****]	  	[*****]
	 RIO LARGO
	  	[*****]	  	[*****]
	 PARNAMIRIM
	  	[*****]	  	[*****]
	 PORTO ALEGRE
	  	[*****]	  	[*****]
	 PALMAS
	  	[*****]	  	[*****]
	 PETROLINA
	  	[*****]	  	[*****]
	 PONTA PORÃ
	  	[*****]	  	[*****]
	 PORTO SEGURO
	  	[*****]	  	[*****]
	 PORTO VELHO
	  	[*****]	  	[*****]
	 RIO BRANCO
	  	[*****]	  	[*****]
	 RECIFE
	  	[*****]	  	[*****]
	 RIO DE JANEIRO (SANTOS DUMONT)
	  	[*****]	  	[*****]
	 RIBEIRÃO PRETO
	  	[*****]	  	[*****]
	 SÃO JOSÉ DOS CAMPOS
	  	[*****]	  	[*****]

  

[*****] Confidential material redacted and filed separately with the Securities and Exchange Commission. 

  
 18 

 CONFIDENTIAL TREATMENT REQUESTED 

 

					
	 SÃO LUÍS
	  	[*****]	  	
	 SANTA MARIA
	  	[*****]	  	
	 SANTARÉM
	  	[*****]	  	
	 SÃO PAULO
	  	[*****]	  	
	 SÃO JOSÉ DO RIO PRETO
	  	[*****]	  	
	 SALVADOR
	  	[*****]	  	
	 UNA
	  	[*****]	  	
	 TERESINA
	  	[*****]	  	
	 TEFÉ
	  	[*****]	  	
	 TABATINGA
	  	[*****]	  	
	 SÃO GABRIEL DA CACHOEIRA
	  	[*****]	  	
	 VILHENA
	  	[*****]	  	
	 VITÓRIA
	  	[*****]	  	
	 CAMPINAS
	  	[*****]	  	
	 SÃO CARLOS
	  	[*****]	  	
	 BONITO
	  	[*****]	  	
	 DOURADOS
	  	[*****]	  	
	 GURUPI
	  	[*****]	  	
	 JI-PARANÁ
	  	[*****]	  	
	 CÁCERES
	  	[*****]	  	
	 SINOP
	  	[*****]	  	
	 BELO HORIZONTE
	  	[*****]	  	
	 LAGOA SANTA
	  	[*****]	  	
	 JUIZ DE FORA
	  	[*****]	  	
	 MONTES CLAROS
	  	[*****]	  	
	 UBERLÂNDIA
	  	[*****]	  	
	 UBERABA
	  	[*****]	  	

  
 [*****] Confidential material redacted and filed
separately with the Securities and Exchange Commission. 

  
 19

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