Document:

EX-10.5

 Execution version 

 

 Exhibit 10.5 

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.

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

  

					
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Proprietary Information Subject to Restrictions on Cover Page
	 	

 Execution version 
  

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
	  	 	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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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
[*****], whichever 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 Designated 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 [*****], in writing, by email with at least [*****] 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, [*****], 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 [*****] 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 [*****] basis; 
 c) Access to
[*****] for [*****] support and consultation as required on a [*****] basis. 
 d) [*****] teleconference to review reports and program
status. 
 e) [*****] engine health trend summary and analysis reports. 

f) [*****] engine thrust derate report. 

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

h) [*****] automated processing of Engine exceedance data with automated exceedance notification via e-mail to Customer. 

i) [*****] notification and recommendation to Customer regarding Engine exceedances impacting next aircraft dispatch. 

j) [*****] automated processing of aircraft and Engine fault data with automated fault notification via e-mail to Customer. 

k) [*****] notification and recommendation to Customer regarding Engine faults impacting next aircraft dispatch. 

l) Daily aircraft and Engine fault summary reports [*****] 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 [*****]. 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 Around 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 if 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

Qty: [*****] installed and [*****] spare

Delivered in accordance with the

Delivery Schedule set forth on

Exhibits B, M and N [*****]

Minimum Build = [*****]
	  	 [*****] Average

EFH Per Year
	  	[*****] hrs / 1 cycle	  	[*****] at a thrust
 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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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 [*****] 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 [*****] 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 [*****] 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 [*****] 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 [*****] from the date of the invoice. 

[*****] 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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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 [*****] 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. 

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

  

					
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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. 
  

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

  

					
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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 

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

  

					
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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. 
 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 

  

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

  

					
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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 do 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 [*****] 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 [*****]. 
 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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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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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-LAT-[Illegible]	 		 	Title:	 	Diretor

  

			
	GE Celma Ltda.
		
	By:	 	/s/    [Illegible]
	Printed Name:	 	Marcelo Luiz da Silva Soares
	Title:	 	CEO

  

			
	By:	 	/s/    [Illegible]
	Printed Name:	 	Joao Batista Guimaraes Moraes
	Title:	 	CFO

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

  

					
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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, [*****] 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 flight 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 [*****] 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. 

  

					
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“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.
[*****], 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 [*****] 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 [*****] 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. 

  

					
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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. 

  

					
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[*****] 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. 

  

					
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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. 

  

					
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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. 

  

					
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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. 

  

					
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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. 

  

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

 

	[*****]	

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

  

					
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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. 

  

					
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	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 [*****] 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. 

  

					
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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). 
  

											
	Package	  	Component	  	QPE	  	Classification	  	Latest Port Number	  	Shop Support (Y/N)
	 [*****]
	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]

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

  

					
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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 [*****] written notice to the other, may terminate the performance of Services with respect to the Engine for which Services were delayed.

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

  

					
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	GE Engine Services, Inc.	 		 	Azul Linhas Aereas Brasileiras
			
	Attn:	 		 	Attn:
	Phone:	 		 	Phone:
	Fax:	 		 	Fax:
	Copy to: Senior Counsel, GE Engine Services Inc. MD F-125, Cincinnati, Ohio 45215	 		 	Copy to:
	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 [*****] 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 [*****], 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 

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

  

					
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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. 

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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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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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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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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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-11	 	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	 	 [*****]
	  	 	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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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	  	[*****]	  	November 2014
	[*****]	  	February 2014	  	[*****]	  	December 2014
	[*****]	  	March 2014	  	[*****]	  	January 2015
	[*****]	  	April 2014	  	[*****]	  	February 2015
	[*****]	  	May 2014	  	[*****]	  	March 2015
	[*****]	  	June 2014	  	[*****]	  	April 2015
	[*****]	  	July 2014	  	[*****]	  	May 2015
	[*****]	  	August 2014	  	[*****]	  	June 2015
	[*****]	  	September 2014	  	[*****]	  	July 2015
	[*****]	  	October 2014	  	[*****]	  	August 2015

 [*****] shall be issued to the Customer within [*****] 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

Proprietary Information Subject to Restrictions on Cover Page
	 	- 37 -

 Execution version 
  

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 [*****] 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 [*****] of termination of this Agreement. 

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

  

					
	Azul Agreement # 1-1373256434	 	 September 25, 2009

Proprietary Information Subject to Restrictions on Cover Page
	 	- 38 -

 Execution version 
  

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 50 EFH 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 herein below. 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

Proprietary Information Subject to Restrictions on Cover Page
	 	- 39 -

 Execution version 

 

 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: September 12, 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

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 GE Engine Services, Inc. 

 

 AMENDMENT NUMBER 1 

THIS AMENDMENT NUMBER 1 (“Amendment”) is made and is effective as of September 12, 2011 (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
[*****] 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

 Execution version 

 

 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

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 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 [illegible]
		
		 	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

  
 [*****] 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 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 tables as follows: 

[*****] 
  

  
 [*****] 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 W ITNESS 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 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:	 	September 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 Operações	  	CFO
	DATE:	 	Sept, 12th 2011	  	SEPT, 12TH 2011

  

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

 Execution version 

 

 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

 Execution version 

 

 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 [*****] 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 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 [*****] 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 remaming [*****] 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

 Execution version 

 

 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

 Execution version 

 

 GE Engine Services, Inc. 

 

 IN W ITNESS 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

 Execution version 

 

 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

 Execution version 

 

 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

 Execution version 

 

 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
[*****] 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 [*****] 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 remaming [*****] 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

 Execution version 

 

 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

 Execution version 

 

 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

 Execution version 

 

 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 AERE AS 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:	  	
			
		  		  	
		  		  	BY:	  	
		  		  	NAME:	  	
		  		  	TITLE:	  	
		  		  	
			
	 GE CELMA LTDA
	  	BY:	  	 /s/ João B. G. Moragas

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

  

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

 Execution version 

 

 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

 Execution version 

 

 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
[*****] 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 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 [*****] of each invoice amount may be paid with
such [*****]. 
 The remaming [*****], 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

 Execution version 

 

 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

 Execution version 

 

 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 AERE AS 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:	  	 /s/ Eduardo S. Wildberger
	  	BY:	  	
	NAME:	  	Eduardo S. Wildberger	  	NAME:	  	
	TITLE:	  	Dir de Operações	  	TITLE:	  	
	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

 Execution version 

 

 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

 Execution version 

 

 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. 

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: 

  
 [*****] 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

 Execution version 

 

 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 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. 
 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. 

  
 [*****] 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

 Execution version 

 

 GE Engine Services, Inc. 

 

			
	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:
	 BY: /s/ Eduardo S. Wildberger
	  	NAME:
	 NAME: Eduardo S. Wildberger
	  	TITLE:
	 TITLE: DIR. DE OPERAÇÕES
	  	DATE:
	 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

 Execution version 

 

 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

 Execution version 

 

 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. 

1. Article 6 of the Agreement is hereby amended (1) with addition of a new section 6.6 and (2) with modification of [*****] 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, multlptied
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 originatty instatled. For each subsequent shop visit, the terms of section 6.1 apply. 

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. 

 

  
 [*****] 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

 Execution version 

 

 GE Engine Services, Inc. 

 

			
	GE ENGINE SERVICES, INC.	  	Azul Linhas Aereas Brasileiras S.A.
		
	 BY: /s/ [Illegible]
	  	BY: /s/ Gerald B. Lee
	 NAME: [Illegible]
	  	NAME: Gerald B. Lee
	 TITLE: Commercial Operations Manager
	  	TITLE: Attorney - in - Fact
	 DATE: 1 Feb 2012
	  	DATE: October 19, 2014
		
	 GE CELMA LTDA.
	  	BY:
	 BY: /s/ João Moragas
	  	NAME:
	 NAME: João B. G. Moragas
	  	TITLE:
	 TITLE: CFO
	  	DATE:
		
	 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

 Execution version 

 

 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

 Execution version 

 

 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 [*****] of
such delivery dates. The term of this Agreement shall be [*****] for each of such firm owned aircraft and spare engine. 

  

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

  
 [*****] 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

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 GE Engine Services, Inc. 

 

 “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	  	[*****]
	 [*****]
	  	Oct-14	  	[*****]
	 [*****]
	  	Jan-15	  	[*****]
	 [*****]
	  	Mar-15	  	[*****]
	 [*****]
	  	Jun-15	  	[*****]
	 [*****]
	  	Sep-15	  	[*****]
	 [*****]
	  	Nov-15	  	[*****]
	 [*****]
	  	Feb-16	  	[*****]
	 [*****]
	  	Apr-16	  	[*****]
	 [*****]
	  	Jun-16	  	[*****]
	 [*****]
	  	Jul-16	  	[*****]
	 [*****]
	  	Sep-16	  	[*****]

  
 [*****] 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

 Execution version 

 

 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
	 [*****]
	  	[*****]	  	13-Jun
	 [*****]
	  	[*****]	  	14-Nov
	 [*****]
	  	[*****]	  	15-Dec

 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

 Execution version 

 

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

 Execution version 

 

 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: 

[*****] 
  

							
	 Aircraft
	  	 Contractual Delivery Date
	  	 Aircraft
	  	 Contractual
Delivery Date

	 [*****]
	  	June 2015	  	[*****]	  	 April 2016

	 [*****]
	  	July 2015	  	[*****]	  	May 2016
	 [*****]
	  	August 2015	  	[*****]	  	June 2016
	 [*****]
	  	September 2015	  	[*****]	  	July 2016
	 [*****]
	  	October 2015	  	[*****]	  	August 2016
	 [*****]
	  	November 2015	  	[*****]	  	September 2016
	 [*****]
	  	December 2015	  	[*****]	  	[*****]
	 [*****]
	  	January 2016	  	[*****]	  	[*****]
	 [*****]
	  	February 2016	  	[*****]	  	[*****]
	 [*****]
	  	March 2016	  		  	

 IN WITNESS W HEREOF, 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

 Execution version 

 

 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

 Execution version 

 

 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.

 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: 

 

  

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

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 GE Engine Services, Inc. 

 

 “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 [*****] aircraft to the Agreement (“Trip [*****] 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 [*****] Leased Fleet, or [*****], whichever occurs first (the “Term”). 

 

	3.	All terms and conditions of the Agreement shall be applied to Trip [*****] Leased Peet except for the ones provided below: 

3.1 The Parties agree that exclusively for Trip [*****] 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 [*****] 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 [*****] Leased Fleet: 
 “PRICING FOR TRIP
[*****] 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: 

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

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

  
 [*****] 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

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 GE Engine Services, Inc. 

 

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

 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
[*****] 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 [*****] missing (the LLP) minimum build specification requirement of [*****] remaining before a next shop visit.” 

3.5 The Parties agree to complement item 11.2 (ReooncifiatIon) of the Agreement to include the following reconciliation conditions exclusively for Trip
[*****] Leased Fleet: 
 “Reconciliation for Trip [*****] Leased Fleet: 

1. If a removed Engine has not undergone a shop visit far Rate Per EFH Services, GE will credit to Trip within [*****] 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 cumulatie Rate Per EFH Payments received from Trip for such removed Engine [*****]. If 

 

  
 [*****] 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

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 GE Engine Services, Inc. 

 

 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.” 
 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 [*****] 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 [*****] of such Engine’s removal, Trip shall [*****] to GE the [*****] on a [*****] 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 [*****] 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 [*****] 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 [*****] 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. 
 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 

  
 [*****] 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

 Execution version 

 

 GE Engine Services, Inc. 

 

 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

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 GE Engine Services, Inc. 

 

 ATTACHMENT A: TRIP [*****] LEASED FLEET 

 

					
	[*****]	 	[*****]	  	Delivery Date
	 [*****]
	 	 [*****]
	  	December 2012
	 [*****]
	 	 [*****]
	  	December 2012
	 [*****]
	 	 [*****]
	  	February 2013
	 [*****]
	 	 [*****]
	  	April2013
	 [*****]
	 	 [*****]
	  	May2013

  
 [*****] 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

 Execution version 

 

 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
	  	[*****]
	 October 2014
	  	[*****]
	 January 2015
	  	[*****]

  
 [*****] 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

 Execution version 

 

 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

 Execution version 

 

 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. 

  

					
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 Execution version 

 

 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

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

  

					
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 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 GE Engine Services, Inc. 

 

 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. 
  

	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

 Execution version 

 

 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: /s/ Roy Gozum	  	BY: /s/ Joao Morabad	  	/s/ Eduardo Soares Wildberger
	NAME: Roy Gozum	  	NAME: Joao Morabad	  	Eduardo Soares Wildberger
	TITLE: GM, Business Operations	  	TITLE: Finance Director	  	Operations Director
	DATE: June 27, 2013	  	DATE:	  	

  

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

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 GE Engine Services, Inc. 

 

 ATTACHMENT A – ADDED AIRCRAFT/ ENGINES 

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

[*****] 

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

  

					
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 Execution version 

 

 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 [*****] 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: /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

       /s/ John Peter Rodgerson
	  	
		
	 NAME: Evandro Braga de Oliveira

              John Peter Rodgerson
	  	
		
	 TITLE: Management and Quality Director

             Attorney in fact
	  	
		
	 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

 CONFIDENTIAL TREATMENT REQUESTED 

 

 GE Engine Services, LLC. 

 

			
		
	GE Engine Services, LLC.	  	GE Celma Ltda.
		
	 BY: /s/ Nathan Hoening
	  	BY: /s/ Julio Talon
		
	 NAME: Nathan Hoening
	  	NAME: /s/ Julio Talon
		
	 TITLE: RES Customer Programs Leader
	  	TITLE: General Manager
		
	 DATE:
	  	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 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	 	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 
	 [*****]
	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 	  	 	Oct-14	 	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 
	 [*****]
	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 	  	 	Jan-15	 	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 
	 [*****]
	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 	  	 	Mar-15	 	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 
	 [*****]
	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 	  	 	Jun-15	 	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 
	 [*****]
	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 	  	 	Sep-15	 	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 
	 [*****]
	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 	  	 	Nov-15	 	  	 	[*****]	 	  	 	[*****]	 	  	 	[*****]	 

  
 [*****] 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. 

 

															
	 [*****]
	  	 [*****]
	  	 [*****]
	  	 [*****]
	  	Delivery Date	  	 [*****]
	  	 [*****]
	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]	  	Feb-16	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]	  	Apr-16	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]	  	Jun-16	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]	  	Jul-16	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]	  	Sep-16	  	[*****]	  	[*****]	  	[*****]

  
 [*****] 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	 	  	 	[*****]	 
	 [*****]
	 	[*****]	  	 	Jun-15	 	  	 	[*****]	 

  
 [*****] 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 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 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. 

  

					
		 		 	

 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 6

 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 6

 Execution version 

 

 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 6

 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. 

  

					
		 	This Document is Proprietary to GE, Holding and Customer	 	Page 4 of 6

			
	Azul 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

      /s/ John Peter Rodgerson
	  	
		
	 NAME: Evandro Braga de Oliveira

              John Peter Rodgerson
	  	
		
	 TITLE: Management and Quality 
Director

    Attorney in fact
	  	
		
	 DATE:
	  	
		
	GE Engine Services, LLC.	  	GE Celma Ltda.
		
	 BY: /s/ Nathan Hoening
	  	BY: /s/ Julio Talon
		
	 NAME: Nathan Hoening
	  	NAME: /s/ Julio Talon
		
	 TITLE: RES Customer Programs Leader
	  	TITLE: General Manager
		
	 DATE:
	  	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 5 of 6

 CONFIDENTIAL TREATMENT REQUESTED 

 

 SCHEDULE A 

THE ENGINES 
  

			
	 Aircraft MSN
	  	Engine Serial Numbers
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]

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

  

					
		 	This Document is Proprietary to GE, Holding and Customer	 	Page 6 of 6

 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 

  
 [*****] 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

 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. 

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. Shehan
	  	By: /s/ Joao B. G. Morgas / Julio Talon
		
	 Name: Russell P. Shehan
	  	Name: Joao B. G. Morgas / 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 3

 Execution version 

 

 AMENDMENT NUMBER 14 

TO 
 OnPointsm Overhaul 
 RATE PER FLIGHT HOUR 

ENGINE SERVICES AGREEMENT 

BETWEEN 
 GE Engine
Services, LLC 
 GE CELMA LTDA. 

AND 
 AZUL LINHAS
AÉREAS BRASILEIRAS S.A. 
 AZUL S.A. 

Agreement Number: 1-1373258434-AM14 

Dated: December 30, 2014 

 

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. 

  

					
		 		 	Page 1 of 4

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 AMENDMENT NUMBER 14 

THIS AMENDMENT Number 14 (“Amendment”) is entered into by and between AZUL S.A. (“Holding”), 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 as “GE” and Azul are jointly referred as
“Customer”, (each a “Party” and collectively referred to herein as “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 (“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 Article 10
of the Agreement, Addition of Engines, and [*****] in accordance with the payment schedule outlined in Exhibit A of this Amendment. 
 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 as follows: 
  

	 	1.	GE will provide [*****] to Customer according to the terms, amounts and dates outlined in Exhibit A of this Amendment and as per Section 5 of the Agreement. 

All other terms and conditions contained in the Agreement, which are not modified by this Amendment Number 14, shall remain in full force and effect. 

This Amendment shall be effective as of the date hereof. 

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

  

					
		 		 	Page 2 of 4

 Execution version 

 

 Execution Version 

IN WITNESS WHEREOF, GE and Customer have caused this Amendment Number 14 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 Celma ltda
	  	Azul S.A.
		
	 BY: /s/ João Moragas
	  	BY: /s/ Amir Nasruddin
		
	 PRINTED NAME: João Moragas
	  	PRINTED NAME: Amir Nasruddin
		
	 TITLE: Finance Director
	  	TITLE: Attorney in Fact
		
	 GE Engine Services, LLC
	  	Azul Linhas Aéreas Brasileiras S.A.
		
	 BY: /s/ Russell P. Shelton
	  	BY: /s/ Amir Nasruddin
		
	 PRINTED NAME: Russell P. Shelton
	  	PRINTED NAME: Amir Nasruddin
		
	 TITLE: Director, Customer Marketing
	  	TITLE: Attorney in Fact

  

					
		 		 	Page 3 of 4

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 EXHIBIT A 

GE shall make available to Customer the Credits in the amounts and on the dates, as follows: 

 

			
	Date	  	 Amount

(USS$)

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

 These credits are all stated in 2014 US Dollars and are not subject to escalation. 

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

  

					
		 		 	Page 4 of 4

 Execution version 

 

 AMENDMENT NUMBER 15 

TO 
 OnPointsm Overhaul 
 RATE PER FLIGHT HOUR 

ENGINE SERVICES AGREEMENT 

BETWEEN 
 GE Engine
Services, LLC 
 GE CELMA LTDA. 

AND 
 AZUL LINHAS
AÉREAS BRASILEIRAS S.A. 
 AZUL S.A. 

Agreement Number: 1-1373258434-AM15 

Dated: December 30, 2014 

 

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. 

  

					
		 		 	Page 1 of 4

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 RECITALS 

WHEREAS, the Parties have entered into an OnPointSM Engine Services Agreement dated 25 September 2009, as
amended and supplemented from time to time (“Agreement”) whereby GE has agreed to provide the Services in exchange for payments to be made by Customer to GE Celina pursuant to the terms of the OnPoint Agreement; and 

WHEREAS, Customer agrees to make additional payments to GE according to the terms and conditions set forth in this Amendment. 

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 as follows: 
  

	 	1.	Customer will make [*****] payments to GE, according to the terms, amounts and dates outlined in Exhibit 1 of this Amendment, and in consideration of section 5 of the Agreement. 

 

	 	2.	In the event of termination of the Agreement due to any reason, any outstanding payment / obligation due by the Customer as of the time of termination shall be paid by the Customer within [*****] of termination of the
Agreement. 

  

	 	3.	All other terms and conditions contained in the Agreement, which are not modified by this Amendment Number 15, shall remain in full force and effect. 

This Amendment shall be effective as of the date hereof. 

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

  

					
		 		 	Page 2 of 4

 Execution version 

 

 IN WITNESS WHEREOF, GE and Customer have caused this Amendment Number 15 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 Celma ltda	  	Azul S.A.
		
	 BY: /s/ João Moragas
	  	BY: /s/ Amir Nasruddin
		
	 PRINTED NAME: João Moragas
	  	PRINTED NAME: Amir Nasruddin
		
	 TITLE: Finance Director
	  	TITLE: Attorney in Fact
		
	GE Engine Services, LLC	  	Azul Linhas Aereas Brasileiras S.A.
		
	 BY: /s/ Russell P. Shelton
	  	BY: /s/ Amir Nasruddin
		
	 PRINTED NAME: Russell P. Shelton
	  	PRINTED NAME: Amir Nasruddin
		
	 TITLE: Director, Customer Marketing
	  	TITLE: Attorney in Fact

  

					
		 		 	Page 3 of 4

 Execution version 

 

 CONFIDENTIAL TREATMENT REQUESTED 

 

 EXHIBIT 1 

Customer shall pay GE the amounts at the dates outlined below. 
  

			
	Date	  	Amount
(US$)
	 [*****]
	  	[*****]
	 [*****]
	  	[*****]
	 TOTAL
	  	[*****]

 These amounts are all stated in 2014 US Dollars and are not subject to escalation or severity adjustment. They will be paid
through incremental invoices issued from the Agreement. 

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

  

					
		 		 	Page 4 of 4

 AMENDMENT NUMBER 16 

TO 
 OnPointsm Overhaul 
 RATE PER FLIGHT HOUR 

ENGINE SERVICES AGREEMENT 

BETWEEN 
 GE Engine
Services, LLC 
 GE CELMA LTDA. 

AND 
 AZUL LINHAS
AÉREAS BRASILEIRAS S.A. 
 AZUL S.A. 

Agreement Number: 1-1373258434-AM16 

Dated: October 22, 2015 

 

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. 

  

					
		 		 	1/3

 CONFIDENTIAL TREATMENT REQUESTED 

 
 AMENDMENT NUMBER 16 

THIS AMENDMENT Number 16 (“Amendment”) is entered into by and between AZUL S.A. (“Holding”), 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 as “GE”, Azul is referred as
“Customer”, (each a “Party” and collectively referred to herein as “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 (“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, Parties agree to temporarily apply a [*****] to certain clauses of the
Agreement, valid for a period of [*****], 
 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 as follows: 
  

	 	1.	As a special and temporary condition, [*****] in the Agreement shall be extended from [*****]. Therefore, the payment term to pay an invoice, only for the below listed clauses, shall be [*****]: 

 

	 	(i)	Article 6 – Invoicing and Payment: Section 6.1 – Rate Per EFH Payments; Section 6.2 – EFH Minimum; Section 6.3 – Supplemental Work Payments; 

 

	 	(ii)	Article 11 – Removal of Engines: Section 11.2 – Reconciliation 

  

	 	(iii)	Exhibit J – General Terms and Conditions: Article 2.0 Excusable Delay, Section 2.2 – Continuing Obligations. 

  

	 	2.	This special and temporary condition shall remain for a period of [*****], as of the execution of this Amendment, and only if Customer is current in all payments due and is otherwise not in material breach under the
Agreement. 

  

	 	3.	After the period of [*****], the original payment terms of the Agreement shall return to full force and effect. 

  

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

  

					
		 		 	2/3

 All other terms and conditions contained in the Agreement, which are not modified by this Amendment, shall remain
in full force and effect. 
 This Amendment shall be effective as of the date hereof. 

IN WITNESS WHEREOF, GE and Customer have caused this Amendment 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 Celma ltda	  	Azul S.A.
		
	 BY: /s/ Julio Talon
	  	BY: /s/ John Peter Rodgerson
		
	 PRINTED NAME: Julio Talon
	  	PRINTED NAME: John Peter Rodgerson
		
	 TITLE: General Manager
	  	TITLE: Attorney in Fact
		
	GE Engine Services, LLC	  	Azul Linhas Aéreas Brasileiras S.A.
		
	 BY: /s/ Nathan Hoening
	  	BY: /s/ John Peter Rodgerson
		
	 PRINTED NAME: Nathan Hoening
	  	PRINTED NAME: John Peter Rodgerson
		
	 TITLE: RES Customer Programs Leader
	  	TITLE: Attorney in Fact

  

					
		 		 	3/3

 AMENDMENT NUMBER 17 

TO 
 OnPointsm Overhaul 
 RATE PER FLIGHT HOUR 

ENGINE SERVICES AGREEMENT 

BETWEEN 
 GE Engine
Services, LLC 
 GE CELMA LTDA. 

AND 
 AZUL LINHAS
AÉREAS BRASILEIRAS S.A. 
 AZUL S.A. 

TRIP LINHAS AÉREAS S.A. 

Agreement Number: 1-1373258434-AM16 

Dated: December, 18th 2015 

 

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. 

  

					
		 		 	1/7

 CONFIDENTIAL TREATMENT REQUESTED 

 
 AMENDMENT NUMBER 17 

THIS AMENDMENT Number 17 (“Amendment”) is entered into 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 as
“GE”, Azul and Trip are jointly referred as “Customer”, (each a “Party” and collectively referred to herein as “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 (“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, the Parties agree on
the removal of certain Engines of the Agreement, without applying the Reconciliation terms of Section 11.2; 
 WHEREAS, the Parties agree on [*****]
for such removed Engines, per the terms of this Amendment; 
 WHEREAS, the Parties desire to update and change the table reflecting the status and
contractual term of the remaining Engines covered by the Agreement. 
 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 as follows: 
  

	 	1.	The Parties agree to remove Engines [*****] and [*****], the Reconciliation terms of Section 11.2 of the Agreement. 

  

	 	2.	As per Article 4.1 Section F, and Exhibit E: Supplemental Work Pricing, Parties hereby agree, for [*****] on [*****], to the following Workscope and [*****] in Exhibit O attached to this Amendment. Pricing is valid for
a [*****] of the signing of this Amendment. 

  

	 	a.	Engines covered by FFP SVs in Exhibit O will [*****] per Article 11.2.1 and Article 11.2.2 as long as they meet the following conditions: 

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

  

					
		 		 	2/7

 CONFIDENTIAL TREATMENT REQUESTED 

 

	 	i.	Removal from contract must be for lease return, only for the [*****] Engine Serial Numbers listed herein 

  

	 	ii.	Should FFP SV not be completed on any Engine listed above, all [*****] Engines will be subject to reconciliation per Article 11 

  

	 	b.	[*****] 

  

	 	c.	In all cases GE will [*****] received up to the time of the engine removal from the aircraft. 

  

	 	d.	For the avoidance of doubt, [*****] as per Article 8 of the Agreement. 

  

	 	3.	The Parties agree to replace Attachment A Group 1 of Amendment n. 10 by the Attachment A to this Amendment n. 17, in order to reflect the current status and contractual term of the Engines covered by the Agreement.

  

	 	a.	Should FFP SV not be completed on any Engine listed above in section 2, this attachment will be void and terms will revert back to the Attachment A Group 1 of Amendment 10. 

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

  

					
		 		 	3/7

 All other terms and conditions contained in the Agreement, which are not modified by this Amendment, shall remain
in full force and effect. 
 This Amendment shall be effective as of the date hereof. 

IN WITNESS WHEREOF, GE and Customer have caused this Amendment 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 Celma ltda	 	Azul S.A.
		
	 BY: /s/ Eduardo Soares Wildberger / Marcio A. Perillo
	 	BY: /s/ Amir Nasruddin
		
	 PRINTED NAME: Eduardo Soares Wildberger /

Marcio A. Perillo
	 	PRINTED NAME: Amir Nasruddin
		
	 TITLE: Operations Manager / Finance Manager
	 	TITLE: Director A/C Programs/Procurement
		
	GE Engine Services, LLC	 	Azul Linhas Aéreas Brasileiras S.A.
		
	 BY: /s/ Nathan Hoening
	 	BY: /s/ Amir Nasruddin
		
	 PRINTED NAME: Nathan Hoening
	 	 PRINTED NAME: Amir Nasruddin

		
	 TITLE: RES Customer Programs Leader
	 	TITLE: Director A/C Programs/Procurement
		
		 	Trip Linhas Aéreas S.A.
		
		 	BY:
                                         
                                       
		
		 	PRINTED NAME:
                                         
               
		
		 	TITLE:
                                         
                                   

  
  
  

  

					
		 		 	4/7

 CONFIDENTIAL TREATMENT REQUESTED 

 
 Exhibit O – CONDITIONS FOR LEASE RETURN PRICING 

 

	1	Workscope 

  

	 	1.1	The FFP price offered to Customer is based on the following specified workscope and is priced per SV by ESN. Pricing, in 2015$, is dependent on all [*****] being completed and is valid for [*****], subject to
escalation per Exhibit C. For up to [*****] Engines listed below, if inducted in the shop by December 31st 2015, [*****]. LLP material shall be purchased as required directly from GE and is not included in the pricing below. 

 

					
	 Workscope definitions
	  	 	  	 
	
Workscope/Module
	  	[*****]	  	[*****]
	
[*****]
	  	[*****]	  	[*****]
	 	 	 
	
Pricing
	  	 	  	 
	
ESNs
	  	[*****]	  	[*****]
	
Pricing Structure
	  	FFP+	  	 FFP+

	 Pricing
(2015$)
	  	[*****]	  	[*****]

  

	 	1.2	Workscope level definitions 

  

	 	a	The following are defined as the minimum disassembly specified in the Workscope 

Planning Guide. 
  

	 	i	MIN = Minimum Workscope 

  

	 	ii	PERF = Performance Workscope 

  

	 	iii	FULL = Full Overhaul Workscope 

  

	 	b	“NONE” = Check Inspection for Overall Condition per [*****] 

  

	 	c	Engine Disassembly/Reassembly/Test = minimum required for specified modular Workscope 

  

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

  

					
		 		 	5/7

 CONFIDENTIAL TREATMENT REQUESTED 

 

	2	Pricing conditions and limitations 

  

	 	2.1	Shop visit must be caused by meeting lease return conditions, and must not be caused by Major FOD, operator error, or other abnormal cause which results in investigation. 

 

	 	2.2	Based on Services performed in accordance with the above specified workscope. Any further disassembly or repairs required or damages found on the Engine beyond the specified workscope will be re-quoted.

  

	 	2.3	SB/AD (Categories 1 through 6) coverage in the FFP price is limited to parts replaced for condition and removed by the workscope specified above. The following SB’s are included in the price: [*****].
The following additional SB’s are included in the price for [*****]. Additional charges will be applied above the FFP+ price for: 

a [*****] 
 b [*****]

  

	 	2.4	The FFP Price is [*****] are taken into account. Customer shall appoint GE to act as claims administrator and benefits recipient during the Term of this Agreement, and authorizes GE to receive from the OEM in the
name of GE all proceeds of such Engine Benefits. Customer warrants to the OEM that all actions undertaken by GE pursuant to this authorization shall be binding on Customer, such that Customer will not seek to receive such Engine Benefits directly
from the OEM. 

  

	 	2.5	Certain high cost or unpredictable part replacements are excluded from the FFP+ Pricing Guarantee. These are: 

a [*****] 
 b
[*****] 
 c [*****] 

d [*****] 
 e
[*****] 
 f [*****] 
  

					
	 Exclusions
	  		  	
	 Part Nomenclature/Type
	  	Excluded	  	All ESNs
	 High $ Parts per Section 2.5.A
	  	Material	  	 [*****] 

  
  

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

  

					
		 		 	6/7

 CONFIDENTIAL TREATMENT REQUESTED 

 
 Attachment A: Added Aircraft/Engines 

The following replaces Attachment A Group 1 of Amendment n. 10 in order to reflect the current status and contractual term of the Engines covered by the
Agreement. 
 Group 1: 
  

									
	 	  	ACFT	  	Engine	  	 Ownership

Status
	  	Term END Date
					
	 #1
	  	[*****]	  	[*****]	  	Op Lease	  	1-Dec-15
	  	  	[*****]	  	  
	 #2
	  	[*****]	  	[*****]	  	Op Lease	  	1-Dec-15
	  	  	[*****]	  	  
	 #3
	  	[*****]	  	[*****]	  	Op Lease	  	[*****]
	  	  	[*****]	  	  
	 #4
	  	[*****]	  	[*****]	  	Op Lease	  	[*****]
	  	  	[*****]	  	  
	 #5
	  	[*****]	  	[*****]	  	Op Lease	  	[*****]
	  	  	[*****]	  	  
	 #6
	  	[*****]	  	[*****]	  	Op Lease	  	[*****]
	  	  	[*****]	  	  
	 #7
	  	[*****]	  	[*****]	  	Op Lease	  	[*****]
	  	  	[*****]	  	  
	 #8
	  	[*****]	  	[*****]	  	Op Lease	  	[*****]
	  	  	[*****]	  	  
	 #9
	  	[*****]	  	[*****]	  	Op Lease	  	[*****]
	  	  	[*****]	  	  
	 #10
	  	[*****]	  	[*****]	  	Op Lease	  	[*****]
	  	  	[*****]	  	  
	 #11
	  	[*****]	  	[*****]	  	Owned	  	[*****]
	  	  	[*****]	  	  
	 #12
	  	[*****]	  	[*****]	  	Owned	  	[*****]
	  	  	[*****]	  	  

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

  

					
		 		 	7/7

 AMENDMENT NUMBER 18 

TO 
 OnPointsm Overhaul 
 RATE PER FLIGHT HOUR 

ENGINE SERVICES AGREEMENT 

BETWEEN 
 GE Engine
Services, LLC 
 GE CELMA LTDA. 

AND 
 AZUL LINHAS
AÉREAS BRASILEIRAS S.A. 
 AZUL S.A. 

Agreement Number: 1-1373258434-AM18 

Dated: May, 18 2016 

 

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. 

  

					
		 		 	1/9

 CONFIDENTIAL TREATMENT REQUESTED 

 
 AMENDMENT NUMBER 18 

THIS AMENDMENT Number 18 (“Amendment”) is entered into by and between Azul S.A. (“Holding”), 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 as “GE”, Holding, and Azul are jointly referred
as “Customer”, (each a “Party” and collectively referred to herein as “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 (“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, the Parties want to include in the Covered Services of Article 3.1
certain SB related services, as per the terms of this Amendment; 
 WHEREAS, the Parties agree on the sublease of [*****] Engines and [*****] Spare Engines
to Portugalia – Companhia Portuguesa de Transportes Aéreos, S.A. (“PGA”) without the application of the provisions of Article 11 of the Agreement; 

WHEREAS, the Parties agree to such Engines will continue to be covered by the Agreement and [*****] will pay [*****] to [*****] for its portion of the
Services; 
 WHEREAS, the Parties agree to amend Article 5 of the Agreement to revise section 5.1 Rates per EFH; 

WHEREAS, the Parties agree to amend and replace Exhibit D Severity table, effective January 1, 2016; 

WHEREAS, the Parties agree to amend Article 6 of the Agreement to revise section 6.2 EFH Minimum, with the purpose of clarifying and aligning with Article 11;

 WHEREAS, the Parties agree to amend Article 5.5 of the Agreement to include additional Service credits to be distributed to the Customer; 

WHEREAS, the Parties agree to amend Article 11 of the Agreement by adding a new Section 11.4. Capitalized terms used, and terms otherwise defined in this
Amendment shall have the meaning assigned to them under the Agreement. 
 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 as follows: 

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

  

					
		 		 	2/9

 CONFIDENTIAL TREATMENT REQUESTED 

 
  

	 	1.	Rates per EFH in Article 5.1 of the Agreement, and its amendments (including, but not limited to amendments 4, 8, 9, and 10), shall be entirely replaced by the table below: 

 

							
	Fleet	  	 New Rates

(Popular /Restored)
	  	 Rate as of 9/1/2018

(Popular /Restored)
	  	 Escalation

Cap

	 Rate-1

(all engines except 10 GECAS ESNs)
	  	[*****]	  	[*****]	  	[*****]
	 Rate-2... unchanged

(GECAS 10 engines as per Amd 9)
	  	[*****]	  	[*****]	  	[*****]

 All rates listed above are in 2016 USD and shall be escalated based on the escalation formula listed in the Agreement, subject
to the Escalation Cap shown here. 
 All covered services remain as defined in the Agreement, and each amendment as applicable. 

 

	 	2.	Item “k” below shall be added to Article 3.1 (“Covered Services”) of the Agreement: 

k. Provide, for applicable Engines, all labor, materials and parts necessary to comply with 

i. [*****] 

ii. [*****] 

iii. [*****] 

iv. [*****] 

v. [*****] 

vi. [*****] 

vii. [*****] 

GE hereby further agrees to work to incorporate future recommended solutions that address [*****] in conjunction with Customer and
OEMs. 
  

	 	3.	GE agrees on the sublease by Customer to its affiliated company PGA of [*****] Aircraft, totaling [*****] Engines, covered by the Agreement, as per the list below, along with [*****] spare engines to be defined by
Customer within its fleet, (the “Subleased Engines”) for 

  

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

  

					
		 		 	3/9

 CONFIDENTIAL TREATMENT REQUESTED 

 
 the remaining duration of the Agreement, without applying the provisions
of Article 11 of the Agreement. It is further agreed Customer, PGA and GE will enter into an agreement no later than June 30th, 2016 to allow for [*****] payment to [*****] by [*****]. 

 

							
	 ANAC

REGISTRATION
	  	AIRCRAFT S/N	  	ENGINE TYPE	  	ORIGINAL ENGINE S/Ns
	 [*****]
	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  	[*****]	  	[*****]	  	[*****]
	 [*****]
	  		  	[*****]	  	[*****]
	 [*****]
	  		  	[*****]	  	[*****]
	 [*****]
	  		  	[*****]	  	[*****]

  

	 	4.	The Parties agree that the Subleased Engines, as listed in Item 3 of this Amendment, can be operated by Customer or by PGA, without any prior authorization to GE, provided that in any case Customer shall continue
to be entirely responsible for all obligations and payments related to the Subleased Engines. For the avoidance of doubt, Customer is fully responsible for transportation of Equipment to and from PGA. 

 

	 	5.	The Parties agree that invoices for Services in connection to Subleased Engines shall be 

 i.
[*****]; or 
 ii. [*****]; or 

iii. [*****] 
 In that regard,
[*****] will notify [*****] no less than [*****] before invoice date, as per Article 6 of the Agreement, [*****]. If [*****] fails to produce such a notification in time, GE will invoice [*****]. For the avoidance of doubt, Customer will continue to
be solely and entirely responsible for all obligations and payments in connection with the Agreement. 
  

	 	6.	The Parties understand and recognize that all Services shall continue to be performed at [*****], as per the terms of the Agreement. 

 

	 	7.	The Parties agree to replace the Severity Table of Exhibit D of the Agreement by the Severity Table of Attachment A to this Amendment, effective as of January 1, 2016. 

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

  

					
		 		 	4/9

 CONFIDENTIAL TREATMENT REQUESTED 

 
  

	 	8.	The Parties agree to replace section 6.2 in its entirety with the following: 

6.2 EFH Minimum. 

The monthly average EFH minimum is [*****]. 
  

	 	a.	[*****] GE will compare the actual total EFH reported for each Engine during each calendar quarter with the monthly minimum [*****]. If the reported actual EFH is less than the EFH minimum, GE will render an invoice and
Customer will pay GE [*****] 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 [*****]. Payment will be made within [*****] from the date of the invoice.

  

	 	c.	Engine Removal subject to reconciliation per Article 11: 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
[*****] Payment will be made within [*****] from the date of the invoice. 

  

	 	d.	If [*****] of Customer’s engine fleet fail to meet EFH minimum during any [*****] calendar months 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 [*****]. Payment will be made within [*****] from the date of the invoice. Any [*****] paid by the Customer under this clause [*****]. 

 

	 	e.	For the sake of clarification, a [*****] 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. 

  

	 	9.	The Parties agree to revise Section 5.5 to include the following paragraph: 

 GE shall make
available to Customer, [*****] of the date of this Amendment, [*****] in the amount equal to the quarterly minimum EFH payments invoiced during 
  

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

  

					
		 		 	5/9

 CONFIDENTIAL TREATMENT REQUESTED 

 
 the period from [*****] in accordance with Article 6.2 (a), which amount
is equal to USD [*****]. 
 For the avoidance of doubt, any charges regarding Min EFH beginning from [*****] shall be based on [*****] as per
Paragraph 8 above. 
  

	 	10.	The Parties agree to amend Article 11 to include a new Section 11.4 as follows: 

 11.4
– For the first [*****] installed Engines and [*****] Spare Engines, [*****] that are early removed from this Agreement through [*****], the following conditions shall apply: 

 

	 	(i)	Up to a maximum of [*****] of such early removed Engines may be Engines that [*****]; 

  

	 	(ii)	Customer shall provide [*****] prior notice of each engine removal to allow GE to work with Customer on a TrueChoice Transition agreement; 

 

	 	(iii)	Customer shall grant [*****]; 

  

	 	(iv)	Any Lease Return Shop visit caused by an early removal shall be workscoped per the lease return conditions, charged [*****], and performed by GE per the terms of the Agreement, or in conjunction with a mutually agreed
TrueChoice Overhaul agreement; 

  

	 	(v)	In the case of early removal of Engines introduced under Amendment 9, such Engines will be considered part of the aforementioned [*****] installed Engines but reconciliation will be as per Amendment 9.

  

	 	11.4.1	Reconciliation for such Engines shall apply as follows: 

  

	 	1.	If a removed Engine has not undergone a shop visit, [*****]; 

  

	 	2.	If a removed Engine has undergone at least one shop visit, GE will calculate the total cumulative charges for [*****] Charges”). GE will then compare such [*****] Charges to any [*****] payments received, if any,
from the Customer for such removed Engine. If [*****] Charges are greater than the [*****] payments received from the Customer for the removed Engine, then GE will [*****]. 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 [*****]. [*****] will [*****] the invoice within [*****] of receipt. GE will retain all [*****] payments received up to the time of removal;

  

	 	3.	[*****] will reimburse to [*****], on a [*****] basis, all [*****] allocated and paid against such Engine if a TSV invoice has been issued. [*****] will reimburse to [*****] 

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

  

					
		 		 	6/9

 CONFIDENTIAL TREATMENT REQUESTED 

 
 [*****] allocated and paid against such Engine if a TSV invoice has not
been issued; 
  

	 	11.	For the next [*****] owned Engines following the signature of this Amendment, that are inducted to a Rate Per EFH Shop Visit with less than [*****] cycles since new, GE will [*****]. GE will [*****]. 

All other terms and conditions contained in the Agreement, which are not modified by this Amendment, shall remain in full force and effect. 

This Amendment shall be effective as of the date hereof. 
 IN
WITNESS WHEREOF, GE and Customer have caused this Amendment 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 Celma ltda	 	Azul S.A.
		
	 BY: /s/ Julio Talon
	 	BY: /s/ Amir Nasruddin
		
	 /s/ Eduardo Soares Wildberger
	 	
		
	 PRINTED NAME: Julio Talon
	 	PRINTED NAME: Amir Nasruddin
		
	 Eduardo Soares Wildberger
	 	
		
	 TITLE: General Manager
	 	TITLE: Attorney in Fact
		
	 Operations Manager
	 	
		
	GE Engine Services, LLC	 	Azul Linhas Aéreas Brasileiras S.A.
		
	 BY: /s/ Nathan Hoening
	 	BY: /s/ Amir Nasruddin
		
	 PRINTED NAME: Nathan Hoening
	 	PRINTED NAME: Amir Nasruddin
		
	 TITLE: RES Customer Programs Leader
	 	TITLE: Attorney in Fact

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

  

					
		 		 	7/9

 CONFIDENTIAL TREATMENT REQUESTED 

 
 ATTACHMENT A 

UPDATED SEVERITY MATRIX 

[*****] Severity Table 
  

																																			
	 Util
	 	2750	 	Temp	 	50	 		 		 	Util 	 	2750	 	Temp 	 	50	 		 		 	Util	 	2750	 	Temp	 	50	 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
																		
	 Util
	 	3000	 	Temp	 	50	 		 		 	Util	 	3000	 	Temp	 	60	 		 		 	Util	 	3000	 	Temp	 	70	 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
																		
	 Util
	 	3250	 	Temp	 	50	 		 		 	Util	 	3250	 	Temp	 	60	 		 		 	Util	 	3250	 	Temp	 	70	 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
																		
	 Util
	 	3500	 	Temp	 	50	 		 		 	Util	 	3500	 	Temp	 	60	 		 		 	Util	 	3500	 	Temp	 	70	 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
																		
	 Util
	 	3750	 	Temp	 	50	 		 		 	Util	 	3750	 	Temp	 	60	 		 		 	Util	 	3750	 	Temp	 	70	 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
																		
	 Util
	 	4000	 	Temp	 	50	 		 		 	Util	 	4000	 	Temp	 	60	 		 		 	Util	 	4000	 	Temp	 	70	 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
																		
	 Util
	 	4250	 	Temp	 	50	 		 		 	Util	 	4250	 	Temp	 	60	 		 		 	Util	 	4250	 	Temp	 	70	 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]

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

  

					
		 		 	8/9

 CONFIDENTIAL TREATMENT REQUESTED 

 
 [*****] Severity Table 

 

																																					
	 Util
	 	2750	 	Temp	 	80	 		 		 	Util	 	2750	 	Temp	 	90	 		 		 		 		 		 		 		 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 		 		 		 		 		 		 	
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
																			
	 Util
	 	3000	 	Temp	 	80	 		 		 	Util	 	3000	 	Temp	 	90	 		 		 		 		 		 		 		 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 		 		 		 		 		 		 	
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
																			
	 Util
	 	3250	 	Temp	 	80	 		 		 	Util	 	3250	 	Temp	 	90	 		 		 		 		 		 		 		 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 		 		 		 		 		 		 	
	 0 5
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
																			
	 Util
	 	3500	 	Temp	 	80	 		 		 	Util	 	3500	 	Temp	 	90	 		 		 		 		 		 		 		 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 		 		 		 		 		 		 	
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
																			
	 Util
	 	3750	 	Temp	 	80	 		 		 	Util	 	3750	 	Temp	 	90	 		 		 		 		 		 		 		 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 		 		 		 		 		 		 	
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
																			
	 Util
	 	4000	 	Temp	 	80	 		 		 	Util	 	4000	 	Temp	 	90	 		 		 	Util	 	4000	 	Temp	 	85	 	85	 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.5	 	1.6	 	1.8	 	2
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]
																			
	 Util
	 	4250	 	Temp	 	80	 		 		 	Util	 	4250	 	Temp	 	90	 		 		 		 		 		 		 		 		 	
	 DR/FL
	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 	DR/FL	 	1.2	 	1.4	 	1.6	 	1.8	 	2	 		 		 		 		 		 		 	
	 0.05
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.05	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.1
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.1	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.15
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.15	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	
	 0.2
	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	0.2	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 	[*****]	 		 		 		 		 		 		 	

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

  

					
		 		 	9/9EX-10.6

 Execution version 
  

			
	

	  	CONFIDENTIAL TREATMENT REQUESTED

  

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. 

 

	 	CONTRACT FOR SALE AND OTHER COVENANTS, ENTERED INTO BETWEEN: 

  

	 	PETROBRAS DISTRIBUIDORA S.A., HEADQUARTERED AT RUA CORREIA VASQUES, No 250 – 6o ANDAR BAIRRO CIDADE NOVA, IN THE CITY OF RIO DE JANEIRO, STATE OF RIO DE JANEIRO, CEP 20211-14-, ENROLLED WITH THE
CORPORATE TAXPAYERS’ REGISTRY (WPS) UNDER NO. 34.274.233/0001-02, HEREBY REPRESENTED BY ITS DULY AUTHORIZED REPRESENTATIVES, ANTONIO CARLOS ALVES CALDEIRA (CONSUMER MARKET DIRECTOR) AND ÉRICA SAIÃO CAPUTO (AVIATION PRODUCTS
EXECUTIVE MANAGER) AND ITS AIRLINE MARKETING MANAGER), HEREINAFTER REFERRED TO AS “BR”. 

  

	 	AND AZUL LINHAS AÉREAS BRASILEIRAS S/A, A CORPORATION DULY INCORPORATED UNDER THE LAWS OF BRAZIL, HEADQUARTERED AT AVENIDA MARCOS PENTEADO DE ULHOA RODRIGUES, 939, TORRE JATOBÁ, 9o ANDAR,
TAMBORÉ, IN THE CITY OF BARUERI, STATE OF SÃO PAULO, ENROLLED WITH THE CORPORATE TAXPAYERS’ REGISTRY (CNPJ) UNDER NO. 09.296.295/0001-60, HEREBY REPRESENTED BY ITS ATTORNEY-IN-FACT, DULY ELECTED PURSUANT TO ITS BYLAWS, HEREINAFTER
REFERRED TO AS “PROMISSEE-PURCHASER.” BEFORE THE SAME WITNESSES, THE REPRESENTATIVES OF THE PARTIES HERETO AGREE AS FOLLOWS: 

ARTICLE 1 – SUBJECT MATTER 
  

	1.1	BR promises to sell to the PROMISSEE-PURCHASER and the PROMISSEE- PURCHASER promises to purchase from BR, during a period of [*****], the monthly minimum quantities of Aviation Kerosene, at the places and in the volume
percentages set forth in Annex I hereto. 

  

	 	1.1.1	The Parties represent they are aware of the retroactive effects of rights and obligations arising out of this Agreement as of December 16, 2015. 

 

	 	1.1.2.	The product set forth in Item 1.1 is intended for the consumption of the PROMISSEE-PURCHASER at the places set forth in Annex I hereto. 

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

  
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	1.2.	The term hereof may be renewed for equal and successive periods, upon the execution of an amendment by the Parties. 

ARTICLE 2 – PRICE AND CONTRACTUAL ADJUSTMENT 
  

	2.1	The product that is the subject matter hereof will be sold by BR to the PROMISSEE-PURCHASER and invoiced at the price practiced by BR, in effect on the day and place of delivery, according to the price list monthly
disclosed by BR to the PROMISSEE-PURCHASER. This price list will be sent by BR to the PROMISSEE-PURCHASER [*****] before the price effective date, in excel format, including all formulas that are used to calculate the price. 

 

	2.2	In the price formation of Aviation Kerosene in Brazil, the price of the producer must observe the Ordinances (Portarias) issued by the Ministry of Mines and Energy and the Brazilian Agency of Oil, Natural Gas and
Biofuels (Agência Nacional do Petróleo, Gas Natural e Biocombustíveis – ANP), as well as applicable law. 

  

	2.3	The price of the producer P-45 (refinery price) will be added by: 

  

	 	2.3.1	The portion referred to as “fixed differential,” whose price in R$/liter (Reais per liter) is set forth in Annex I hereto (which Annex, initialed by the Parties, is an integral part hereof), adjusted
annually by the Brazilian Broad Consumer Price Index (Índice de Preços ao Consumidor Amplo – IPCA) published by the Brazilian Institute of Geography and Statistics (Instituto Brasileiro de Geografia e
Estatística – IBGE), corresponding to the index accumulated in the past twelve (12) months, published in December. The base date of adjustment is January 1 of each year. 

 

	 	2.3.1.1	At any time, as agreed by the Parties, the amount of the “fixed differential” portion may be changed, with regards to each airport listed in Annex I hereto and new airports where the PROMISSEE-PURCHASER may
fuel with BR, so as to maintain the weighted average differential of the total volume of the bases indicated by the Parties. If required, semi-annual adjustments will be carried out to maintain the weighted average amount of the bases indicated by
the Parties. 

  

	 	2.3.1.2	The pricing of the “fixed differential” portion for new airports must be negotiated by the Parties. 

  

	 	2.3.2	The variable lease portion charged by the Brazilian Aiport Infrastructure Company (Empresa Brasileira de Infraestrutura Aeroportuária – INFRAERO), the Brazilian airport authority, or by the company in
charge of the administration of the airport, in the amount set forth by them. 

  

	 	2.3.3	The rate of the tax on goods and services (Imposto sobre Circulação de Mercadorias e Serviços – ICMS), payable in accordance with the rates of each Brazilian State and any other
taxes and fees provided by law. 

  

	 	2.3.4	Financial charges corresponding to [*****], relating to the payment term granted to the PROMISSEE-PURCHASER. 

ARTICLE 3 – SPECIAL PRICING 
  

	3.1	The special pricing of the “Fixed Price” is optional and will take into account market conditions for the period in which it will apply, pursuant to the process described in Item 3.2 and Subitems. The
PROMISSEE-PURCHASER may freely choose the period of establishment of the fixed price, within [*****], limited to the end of the term hereof. In the event the PROMISSEE-PURCHASER intends to qualify for this pricing option, the PROMISSEE-PURCHASER
must request assessment rounds from BR on any business day before [*****]. 

  

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

  
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	 	3.1.1	The “fixed price” category will only be applied to the price of the producer P-45 (refinery price). 

  

	3.2	The following procedures must be followed in the assessment rounds in order to allow the PROMISSEE-PURCHASER to review the feasibility of the special pricing of the fixed price to be applied, as set forth in
Item 3.1: 

  

	 	3.2.1	Upon request of offer of a fixed price, the PROMISSEE-PURCHASER must choose to receive the offer of the fixed price that will be in effect in month (n), in U.S. dollars or Reais per liter, net of PIS, COFINS,
ICMS and any other included taxes. BR must inform the rates in effect in the relevant month to the PROMISSEE-PURCHASER. 

  

	 	3.2.2	U.S. dollar amounts will be converted to Reais per liter using the average selling exchange rate of the U.S. dollar of the period between the [*****], as published by the Central Bank of Brazil.

  

	 	3.2.3	Day D: the PROMISSEE-PURCHASER will request from BR, in writing, the following parameters: monthly volume and period intended, per distribution hub with free allocation by the PROMISSEE-PURCHASER among the airports that
are part of each hub; 

  

	 	3.2.4	Day D+1: by 12:00 p.m. (Brasília time) of the business day following the day set forth in Item 3.2.3, BR will inform, in writing, the following parameters: price and monthly volume that can be sold at the
“fixed price,” within the requested period, per point of supply, and the PROMISSEE-PURCHASER will confirm, in writing, by 12:20 p.m. (Brasília time) of the same day, its intention to contract per point of supply, at special prices;

  

	 	3.2.5	BR will confirm, in writing, by 4:00 p.m. (Brasília time) of the same day set forth in Item 3.2.4, the monthly volume effectively accepted at the special pricing per point of supply, within the requested
period. 

  

	 	3.2.6	In case of more than one round in which the PROMISSEE-PURCHASER effectively accepts this pricing, the fixed price in effect for the agreed period will be calculated as the weighted average of prices and monthly volumes
agreed in the n-rounds, in accordance with the formula below, including four decimal places. 

  

	 	[*****]	

  

	 	[*****]	

  

	3.3	The monthly volume effectively accepted by the PROMISSEE-PURCHASER at the special “fixed price” must be primarily and fully collected at each point of supply. In the event such contracted volume is not
collected, for any reason, the PROMISSEE-PURCHASER will be responsible for paying a fine to BR, calculated [*****]. 

  

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

  
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	3.4	The volume to be supplied at the fixed price in a certain month cannot exceed [*****] of the volume delivered in the same month of the previous year or [*****] at the distribution hub chosen by the PROMISSEE-PURCHASER,
whichever is higher. 

  

	 	3.4.1	BR may, at its discretion, suspend the negotiation of the fixed price or restrict the volume to be negotiated. 

ARTICLE 4 – PAYMENT 
  

	4.1	The Aviation Kerosene sold by BR will be measured upon delivery and invoiced on behalf of the PROMISSEE-PURCHASER, as follows: 

  

	 	*	Supply from [*****] will be paid on the [*****]; 

  

	 	*	Supply from [*****] will be paid on [*****]; 

  

	 	*	Supply from [*****] will be paid on the [*****]. 

  

	4.2	The Parties agree that the payment term is set forth due to current market conditions and the financial backing of the PROMISSEE-PURCHASER with BR. The Parties mutually agree to re-examine the payment term in the event
current market conditions and/or the financial backing of the PROMISSEE- PURCHASER with BR change. 

  

	4.3	Payments will be made through bank deposit or bank electronic transfer (TED) to the account held at [*****] located in the city of Rio de Janeiro or at a place expressly indicated by BR for this purpose.

  

	4.4	In the event of delay in payment of invoices, the PROMISSEE-PURCHASER will pay to BR amounts due [*****], plus pro rata interest for late payment of [*****] and a fine of [*****]. Interest for late payment will be
payable as of the due date of the relevant invoices. 

  

	4.5	In the event of delay in payment of invoices, BR may demand early payment from the PROMISSEE-PURCHASER. 

  

	4.6	The Parties agree that BR may request the early payment of amounts payable by the PROMISSEE-PURCHASER hereunder to the financial institution with which the PROMISSEE-PURCHASER entered into an Agreement for the
Prepayment of Receivables under Credit Assignment Transactions – Confirming. 

  

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

  
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 ARTICLE 5 – ELETRONIC FILES 

 

	5.1	During the term hereof, BR will generate electronic files that will be sent daily via FTP to the PROMISSEE-PURCHASER. These files will inform the amount of Aviation Kerosene purchased by the PROMISSEE-PURCHASER for its
aircrafts and other data (number of the invoice (Nota Fiscal), date, place of refueling, unit price, total amount of the Nota Fiscal, flight number, aircraft prefix, etc.), which will be used to issue invoices. 

 

	5.2	In order to protect the confidentiality of the files and facilitate the access of the PROMISSEE-PURCHASER, BR made available the website ftp.br-petrobras.com.br (“Website”), through which the
PROMISSEE-PURCHASER has daily access to the files. 

  

	5.3	BR agrees that: 

  

	 	(i)	the PROMISSEE-PURCHASER may copy, use, and store files, even after the termination of the Agreement, for a period provided by applicable law; 

 

	 	(ii)	the network server of the PROMISSEE-PURCHASER and its appointed employees, through their desktop computers, are authorized to access the Website on a personal basis through individual passwords provided by BR to each of
them; 

  

	 	(iii)	the area intended for storage of information of the PROMISSEE-PURCHASER will not be shared with other institutions, and only the PROMISSEE-PURCHASER and BR may store and/or handle the files; 

 

	 	(iv)	employees of the PROMISSEE-PURCHASER must obtain the files at the Website of BR within one hundred eighty (180) days from the date of their issuance; 

 

	 	(v)	any information exchanged between the PROMISSEE-PURCHASER and BR must be encrypted before its transfer to the Website. 

  

	 	(vi)	the PROMISSEE-PURCHASER and BR will share a password, known only by each of them, in order to decrypt information. 

  

	5.4	Moreover, BR acknowledges that the PROMISSEE-PURCHASER is not responsible for the availability and management of its FTP servers. 

  

	5.5	In the event the information made available by BR at the Website is not complete or presents any inconsistency, BR will provide such information subsequently, as soon as possible. 

 

	5.6	The Parties also agree, even after termination hereof, not to use and/or disclose to third parties the contents of the files, agreement, and their relationship due to the confidentiality of the information involved and
made available, under penalty of the applicable sanctions. Any undue disclosure will subject the Infringing Party to the payment or redress regarding all losses confirmedly incurred by the other Party, including pain and suffering or competitive
injury, and other losses resulting from administrative or judicial proceedings, and civil and criminal liability, which will be assessed in the due course of the relevant judicial or administrative proceeding. 

  
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ARTICLE 6 – AIRCRAFT FUEL DRAINAGE 
  

	6.1	BR may drain the fuel from aircraft tanks, upon request of the PROMISSEE-PURCHASER at the airports where this type of operation is available, as listed in Annex II hereto. 

 

	6.2	The request for fuel drainage must be sent to the employee or reseller of BR responsible for the airport where the operation will be conducted. The request must be made in writing, signed by an employee of the
PROMISSEE-PURCHASER, or via email including the employee’s identification. BR will provide and maintain an updated list of contact managers at its bases, included in Annex II hereto. 

 

	6.3	The request for fuel drainage must be received within the advance period set forth by BR to provide the service, as included in Annex II hereto. 

 

	6.4	The product that is drained from the aircraft tank must be returned to the same aircraft or to a different aircraft of the PROMISSEE-PURCHASER [*****]. BR will provide to the PROMISSEE-PURCHASER a proof of delivery of
the fuel returned to the aircraft tank. 

  

	 	6.4.1	– In the event of suspected contamination, the product drained from the aircraft tank must be submitted for analysis, storage, and possible disposal, as applicable. 

 

	 	6.4.2	– The costs regarding the analysis, storage, and disposal will be previously informed to the PROMISSEE-PURCHASER and a review will be conducted on a case-by-case basis to define which Party will bear such costs.

  

	 	6.5	The product that is drained from the aircraft tank will remain stored for maximum periods and at maximum volumes as set forth for each airport, depending on their operating capacity, as specified in Annex II hereto.

  

	 	6.6	In the event the PROMISSEE-PURCHASER fails to fulfill any of the conditions set forth above, BR reserves the right not to conduct the operations of fuel drainage, upon written notice to the PROMISSEE-PURCHASER.

  

	 	6.7	For the fuel drainage operations of the aircrafts of the PROMISSEE- PURCHASER, the Parties agree that a fixed price per fuel drainage operation will be charged, in the amount of [*****], plus a variable amount per liter
of fuel drained and returned, corresponding to the fixed differential price practiced at the airport. 

  

	 	6.7.1.	The conditions set forth in Item 6.7 above will only apply in the event more than [*****] fuel drainage operations per month are conducted in the aircrafts. 

ARTICLE 7 – OBLIGATIONS OF BR 
 The specific
obligations of BR are set forth below: 
  

	7.1	BR agrees to provide the Aviation Kerosene required to meet the monthly total consumption contracted by the PROMISSEE-PURCHASER, at the locations set forth in Annex I hereto, at times compatible with the relevant
flights in Brazil, included in the HOTRAN (transport time) published by the Brazilian Civil Aviation Agency (Agência Nacional de Aviação Civil), and abroad, pursuant to local rules, as well as all other non-regular
flights, charter flights, training flights and repositioning flights of the PROMISSEE-PURCHASER that require fuel. 

  

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

  
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	 	7.1.1	BR will reimburse the PROMISSEE-PURCHASER for all direct expenses resulting from delays in flights above [*****], pursuant to ANAC Resolution 141, up to [*****] per event, and pay a fine of [*****] per event, provided
that the delays are confirmedly caused by BR and the relevant flights are immediately informed to the local team [*****] hours in advance. 

  

	 	7.1.2.	BR agrees to pay to the PROMISSEE-PURCHASER the amount of [*****] per flight whose aircraft is not fueled, in addition to [*****], pursuant to ANAC Resolution 141, including, but not limited to [*****], provided that BR
is confirmedly responsible for the failure to fuel aircrafts at the locations where BR has fueling facilities. 

  

	 	7.1.3	BR is not required to pay [*****]. 

  

	7.2	BR agrees to maintain the quality and the readiness of its service according to the standards set forth for this type of operation, placing all possible efforts and resources towards the good provision of the services
contracted hereunder. 

  

	7.3	BR agrees to maintain the quality of the Aviation Kerosene within technical specifications, free of water or other contaminants, making periodic test reports available as required to confirm such quality.

  

	 	7.3.1.	Respond to quality audits conducted by the PROMISSEE-PURCHASER within the period mutually agreed and comply with the items of the IOSA checklist. 

 

	 	7.3.2	The PROMISSEE-PURCHASER may request from BR, at any time, the result of the quality assessments conducted on the fuel used in the aircrafts of the PROMISSEE-PURCHASER, and BR will send it to the PROMISSEE-PURCHASER,
within [*****] after the request, or [*****] in case the safety of the flight may be compromised. 

  

	 	7.3.3	Item 10.2 below will apply in the event the irregularity mentioned above is found by BR. 

  

	7.4	BR agrees to comply with, and cause its employees and agents to comply with, all legal and regulated orders concerning its activity as Distributor of Oil Byproducts, especially Resolution, Ordinances (Portarias),
and other acts issued by the federal legislative body. 

  

	7.5	BR will not be held liable for any lack of Aviation Kerosene at the locations and times referred to in Item 7.1.1 in the event this lack of Aviation Kerosene results from governmental acts and any other events of
force majeure or Act of God. In these cases, BR will put in its best efforts to maintain the supply to the PROMISSEE-PURCHASER. 

  

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

  
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	 	7.5.1	Scheduled strikes of employees of BR or outsourced service providers that may harm the supply of fuel provided hereunder will not be deemed an Act of God. 

 

	7.6	BR agrees to reimburse, directly or through an insurance company, [*****]. 

  

	7.7	BR agrees to conduct the fuel drainage operations requested by the PROMISSEE-PURCHASER in accordance with the conditions set forth herein. 

 

	7.8	At all times the PROMISSEE-PURCHASER obtains benefits under an ICMS Special Regime or extends an existing Special Regime, the PROMISSEE-PURCHASER must immediately submit it to BR, which, after analysis, will proceed
with the parameterization of the BR system as soon as possible. The temporary interruption in the supply is recommended in order to avoid issuances based on outdated parameters. 

 

	 	7.8.1	With regards to the analysis mentioned above, a representation letter may be requested to be delivered, in the form provided by BR, which must include at least the following information: 

 

	 	7.8.1.1	The PROMISSEE-PURCHASER agrees to immediately and primarily notify BR [*****] in the event of any change and/or revocation of the regime or its applicability, especially, but not exclusively, any cause that may
result in loss of the tax benefit. 

  

	 	7.8.1.2	In the event deficiency notices are issued under tax proceedings, or collection notices are issued under judicial or administrative proceedings, against BR, because the State believes that the Special Regime does not
apply or due to a change and/or revocation of the Special Regime or its applicability that is not informed by the PROMISSEE-PURCHASER to BR, the PROMISSEE-PURCHASER agrees to be the main debtor, bearing all resulting burden. 

 

	 	7.8.1.3	The PROMISSEE-PURCHASER is hereby informed that the obligation set forth above includes, but is not limited to, the recognition of additional invoices issued to collect the difference between the product’s full
tax amount and reduced tax amount as a result of a tax benefit or special regime, regarding all operations conducted in [*****], due to a judicial decision rendered in a lawsuit relating to diffuse or concentrated control of constitutionality that
may declare, in full or in part, the unconstitutionality of rules that support the special regime or tax benefit. 

  

	 	7.8.1.4	The PROMISSEE-PURCHASER agrees, through this representation, within the scope of the operation described herein, to [*****]. 

  

	 	7.8.1.5	[*****] BR is solely required to [*****] notify the PROMISSEE-PURCHASER about these situations to allow the [*****]. 

  

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

  
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	 	7.8.2	In the event of error in the formation of the price due to misinterpretation of the legislation/special regime or the parameterization of the system by BR, BR must promptly make the relevant adjustments to its system
and request the authorization of tax authorities to reimburse the PROMISSEE-PURCHASER for these amounts upon a discount included in the next invoice to be issued by BR to the PROMISSEE-PURCHASER, provided that the PROMISSEE-PURCHASER identifies the
issue upon receipt of the invoice (nota fiscal). 

  

	 	7.8.3	At all times required, BR must present the list of invoices (Notas Fiscais) and the price impact relating to the special regime within [*****] from the date the inconsistency is found. 

 

	 	7.8.4	Any acquisition of ICMS credits as a result of Special Regimes must be negotiated, and discounts granted to the PROMISSEE-PURCHASER will be negotiated on a case-by-case basis. 

ARTICLE 8 – OBLIGATIONS OF THE PROMISSEE-PURCHASER 
  

	8.1	The specific obligations of the PROMISSEE-PURCHASER, and other obligations implicitly or explicitly included herein, are set forth below: 

 

	 	8.1.1	The PROMISSEE-PURCHASER will purchase from BR, during the term hereof, the minimum volumes of Aviation Kerosene, at the locations and in the volumes specified in Annex I hereto. 

 

	 	8.1.2	The PROMISSEE-PURCHASER will pay the amounts corresponding to the supplies provided by BR, pursuant to Article 2 hereof. 

  

	 	8.1.3	The PROMISSEE-PURCHASER will not assign, subrogate, negotiate or in any way transfer this Agreement or any rights or obligations hereunder, under penalty of the sanctions set forth herein. 

 

	 	8.1.4	The PROMISSEE-PURCHASER will comply with and cause the compliance with all laws and regulations, ordinances and rules in effect relating to the performance of its activities. The PROMISSEE-PURCHASER is responsible for
the payment of any amounts or losses incurred by BR, directly or indirectly, as a result of the non-performance of this obligation. 

  

	8.2	Considering that the quality of the Aviation Kerosene of BR is appropriate, assuring the quality standard of the supplied product to the PROMISSEE- PURCHASER, the PROMISSEE-PURCHASER agrees to verify the quality control
of the product received and the exact compliance herewith, notably in terms of safety, health and environmental rules. 

  

	8.3	The PROMISSEE-PURCHASER agrees to previously notify BR in the event of any change and/or revocation of the special regime or its applicability, and of any cause that may result in the loss of this tax incentive.

  

	 	8.3.1	In the event deficiency notices are issued under tax proceedings, or collection notices are issued under judicial or administrative proceedings, against BR, due to a change and/or revocation of the Special Regime
or its applicability that is not informed by the PROMISSEE-PURCHASER to BR, [*****]. 

  

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

  
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	 	8.3.2	The PROMISSEE-PURCHASER is hereby aware that the obligation set forth above includes, but is not limited to, [*****] due to a judicial decision rendered in a lawsuit relating to diffuse or concentrated control of
constitutionality that may declare, in full or in part, the unconstitutionality of the application of the tax benefit. 

  

	 	8.3.3	The PROMISSEE-PURCHASER agrees to reimburse BR for [*****]. BR is solely required to timely notify the PROMISSEE-PURCHASER about these situations to allow payment arrangements. 

ARTICLE 9 – TAXES 
  

	9.1	All taxes (taxes, fees, tax or quasi-fiscal contributions and any emoluments) directly or indirectly resulting from this Agreement or its performance will be exclusively payable by the Party responsible for such taxes,
pursuant to applicable tax law, without any right to reimbursement by the other Party, at any title. 

 ARTICLE 10 – TERMINATION

  

	10.1	This agreement may be terminated by operation of law, at the discretion of the non-breaching party, irrespective of notice or judicial or extrajudicial notification. The penalty set forth in Item 10.3, subitem
10.3.1 and Article 11 will be imposed on the breaching party in the following events: 

  

	 	10.1.1	Judicial or extrajudicial liquidation of any of the Parties; 

  

	 	10.1.2	Petition or proposition of judicial or extrajudicial reorganization; filing for, adjudication or confirmation of bankruptcy; conversion from reorganization to bankruptcy or legitimate protest of an issuance or
co-obligation instrument of the PROMISSEE-PURCHASER, without cancelation within the legal term. 

  

	 	10.1.3	Delay by the PROMISSEE-PURCHASER regarding the payment of the product purchase invoice to BR, after [*****] from the due date. 

  

	 	10.1.4	Failure by the breaching party, once notified to cure its noncompliance, to do so within the period set forth in the relevant notice. 

 

	 	10.1.5	Failure by the PROMISSEE-PURCHASER to fulfill its obligation to purchase the volume percentages of Aviation Kerosene set forth in Item 1.1 and specified in Annex I hereto. 

 
 [*****] Confidential material redacted and filed separately with the Securities and
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	 	10.2	In the event of non-compliance with any articles or conditions set forth herein, the breaching party will be notified to cure the non-compliance within [*****], under penalty of default, in which case the non-breaching
party may terminate this Agreement, without prejudice to the penalty of payment of the fine set forth in Item 10.3.1 by the breaching party to the non-breaching party. 

 

	 	10.3.1	The Party that causes the termination of this Agreement or fails to comply with any provision hereof will be subject to the payment of a termination fine corresponding to [*****], as follows: 

 

	 	[*****]	

 ARTICLE 11 – ACT OF GOD AND FORCE MAJEURE 

 

	11.1	The enforceability hereof will be suspended due to force majeure or Act of God that prevents its performance by any of the Parties. Performance hereof will be resumed as soon as the event that caused the suspension of
its enforceability ceases to exist. 

  

	11.2	In the event of the abovementioned suspension, the term hereof will be automatically extended for the time required to offset the time of suspension of enforceability. 

 

	11.3	Once the suspension has ended, this Agreement will be automatically terminated in the event of breach of any of the obligations hereby assumed by the Parties, and the fine set forth in Item 10.3 and subitem 10.3.1
hereof will be applied to the breaching party. 

 ARTICLE 12 – REGULATORY AGENCY 

 

	12.1	The PROMISSEE-PURCHASER agrees to reimburse BR for any fines that may be imposed on BR due to confirmed non-compliance, exclusively by the PROMISSEE-PURCHASER, of orders and instructions of the Brazilian Oil Agency
(Agência Nacional de Petróleo – ANP) and/or other agencies that are competent to regulate the sale and distribution of oil by-products, ethanol, and the by-products of other sources of energy. 

 

	12.2	The supply of Aviation Kerosene included in Item 1.1 is subject to the same usual market conditions of supply and the changes that are imposed by ANP and/or other agencies that are competent to regulate the supply
of oil by-products, ethanol, and the by-products of other sources of energy, including in connection with prices, delivery and payment terms. 

  

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

  
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ARTICLE 13 – SUCCESSION 
  

	13.1	The obligations assumed hereunder extend to the assignees and/or successors of the Parties and all persons that may operate the relevant business and/or is sub-rogated in the activity of the PROMISSEE- PURCHASER, at any
title. The Parties will only be released from these obligations upon written consent from the other Party. 

 ARTICLE 14 – SOCIAL
FUNCTION OF THE AGREEMENT 
  

	14.1	In all activities related to the performance hereof, BR must not employ child labor, pursuant to Item XXXIII of Article 7 of the Brazilian Federal Constitution, or labor in conditions similar to that of slavery. BR must
include a specific provision in this regard in the agreements entered into with its suppliers of inputs and/or service providers, under penalty of fine or termination hereof, without prejudice to other applicable measures. 

 

	14.2	In recruiting and hiring its work force, the PROMISSEE-PURCHASER must not exercise any kind of discrimination relating to race/ethnicity, color, age, gender, marital status, as well as political opinion, ideology,
philosophy and/or religion, or for any other reason, under penalty of termination hereof, irrespective of applicable penalties. 

 ARTICLE
15 – AMENDMENT TO THE BYLAWS 
  

	15.1	In the event the PROMISSEE-PURCHASER amends its bylaws reflecting a change of its trade name, assignment or change in its control, the PROMISSEE-PURCHASER must notify BR of the fact within [*****], through the Registry
of Deeds and Documents. 

 ARTICLE 16 – VALUE OF THE AGREEMENT 

 

	16.1	The Parties attribute to this Agreement the value of [*****]. 

 ARTICLE 17 – CONTRACTUAL GOOD FAITH

  

	17.1	The PROMISSEE-PURCHASER and BR represent, for all legal purposes and effects, that the conditions set forth herein are the result of the negotiation between them. 

ARTICLE 18 – CONFIDENTIALITY 
  

	18.1	The Parties agree that the conditions set forth herein cannot be provided or disclosed to third parties and guarantee that only employees that effectively need to know these conditions will have access to them.

  

	18.2	The Parties agree to keep the confidentiality of the information referred to in Item 18.1 for up to three (3) years from the date of termination hereof. 

 

	18.3	Information requested by any governmental body or agency may be provided, as well as information requested pursuant to applicable law. Nonetheless, in any event, the relevant Party must inform the other Party to allow
it to oppose the request. Failure to inform the other Party constitutes a breach of contract. 

  

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

  
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ARTICLE 19 – ENVIRONMENTAL LIABILITY 
  

	19.1.	The PROMISSEE-PURCHASER undertakes to comply with environmental laws and regulations, as well as to obtain and maintain the validity of all licenses, authorizations, and studies required for the full development of its
activities. The PROMISSEE-PURCHASER also agrees to adopt the applicable measures and procedures in order to remove any aggression, danger or risk of damage to the environment that may be caused by its activities, including outsourced activities.

  

	 	19.1.1.	For purposes hereof, the term “environment” or expressions related to environmental liability include all other matters regulated by applicable rules, such as public health, urban planning, historical/cultural
heritage, and environmental management. 

  

	19.2.	The PROMISSEE-PURCHASER and its representatives are exclusively subject to the sanctions imposed by environmental rules and liable for any and all damage to the environment exclusively caused by the PROMISSEE-PURCHASER,
as a result of its activities or losses of any nature, especially due to defects, usage, packaging, products and equipment it owns or holds under loans, leases or other means, even if transferred to third parties not included herein.

  

	 	19.2.1.	The environmental liability of the PROMISSEE-PURCHASER covers all sanctions and requirements provided in Law No. 9.605/98 and other laws or normative acts that currently provide or may provide in the future for
environmental matters. 

  

	 	19.2.2.	The environmental liability of the PROMISSEE-PURCHASER for damages exclusively caused by it, or originated during the term hereof and any term extensions, remains even if the effects of the damages become known or occur
after termination hereof. 

  

	 	19.2.3.	[*****] 

  

	 	19.2.4.	In the event the PROMISSEE-PURCHASER breaches the environmental rules or fails do take the measures required to avoid environmental damages or losses, BR may, at its discretion, immediately suspend the Agreement until
the PROMISSEE- PURCHASER takes the relevant required measures. 

  

	 	19.2.5.	In the event of any environmental damage exclusively caused by the PROMISSEE-PURCHASER, the PROMISSEE-PURCHASER agrees to immediately inform the competent authorities and take all measures required to remediate and
minimize environmental damage and impact. The PROMISSEE-PURCHASER also agrees to immediately and efficiently inform BR of the relevant damage and any notices, process, and infringement notices that it receives, and such fact will not imply the
assumption of any liability by BR. 

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

  
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ARTICLE 20 – JURISDICTION 
  

	20.1	The Parties choose the jurisdiction of the courts of the city of Rio de Janeiro, State of Rio de Janeiro, excluding any other. In the event of a dispute, the breaching party will bear all judicial and extrajudicial
expenses and attorney’s fees [*****] of the amount set forth by the court decision. 

  

	20.2	IN WITNESS WHEREOF, the Parties executed this Agreement in three (3) counterparts of the same content in the presence of two (2) witnesses. 

Rio de Janeiro, May 25, 2016. 
  

	
	
	/s/ Antonio Carlos Alves Caldeira
	PETROBRAS DISTRIBUIDORA S.A.
	Antonio Carlos Alves Caldeira
	Consumer Market Director

  

	
	
	/s/ Erica Saião Caputo
	PETROBRAS DISTRIBUIDORA S.A.
	Erica Saião Caputo
	Aviation Products Manager

  

	
	
	/s/ John Rodgerson
	AZUL LINHAS AÉREAS BRASILEIRAS S.A.
	Name: John Rodgerson
	Title: Attorney in fact

 WITNESSES: 
  

					
			
	/s/ Raffael Quintas Alves	 		 	/s/ Julio Cesar Abrahão
	Name: Raffael Quintas Alves	 		 	Name: Julio Cesar Abrahão
	ID (RG): 25607886-5	 		 	ID (RG): 1991102971 (CREA RJ)

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

  
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	  	CONFIDENTIAL TREATMENT REQUESTED

  

ANNEX I 
 [*****] 

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

  
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	  	CONFIDENTIAL TREATMENT REQUESTED

  

[*****] 
  

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

  
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	  	CONFIDENTIAL TREATMENT REQUESTED

  

ANNEX II 
 [*****] 

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

  
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