Document:

Exhibit
10.2.1

 

 

 

FIRST AMENDMENT TO SUBLEASE AGREEMENT

[NW            ]

 

Dated as of

 

[               ],
2003

 

Between

 

NORTHWEST AIRLINES, INC.,

Sublessor

 

AND

 

PINNACLE AIRLINES, INC.,

Sublessee

 

One Bombardier Inc. Canadair Regional
Jet Model CL-600-2B19 Aircraft

 

 

 

 

FIRST AMENDMENT TO SUBLEASE AGREEMENT

[NW           ]

 

This
FIRST AMENDMENT TO SUBLEASE AGREEMENT [NW
         
    ], dated as of
[                 ],
2003, between NORTHWEST AIRLINES, INC., a corporation organized and existing
pursuant to the laws of the State of Minnesota (“Sublessor”), and PINNACLE
AIRLINES, INC., a corporation organized and existing pursuant to the laws of
the State of Georgia (“Sublessee”), to a certain Sublease
Agreement [NW
           
    ], dated as of
[                 ],
between Sublessee and Sublessor (as supplemented by Sublease Supplement No. 1
[NW            
    ] (“Sublease Supplement No. 1”) between
Sublessor and Sublessee, dated
[                  ],
herein called the “Sublease”);

 

Except
as otherwise defined in this Amendment, the terms used herein in capitalized
form shall have the meanings attributed thereto in the Sublease;

 

W I T N E S S E T H:

 

WHEREAS,
pursuant to the Sublease, Sublessee has subleased from Sublessor the Aircraft,
which consists of the following components: (i) Airframe:  FAA Registration No.
N         ; manufacturer’s serial
No.           ; and (ii)
Engines: two (2) General Electric Model CF34-3B1 engines bearing, respectively,
manufacturer’s serial nos.
            and
          .

 

WHEREAS,
a counterpart of the Sublease, to which was attached and made part thereof
Sublease Supplement No. 1, was recorded by the Federal Aviation Administration
(the “FAA”) on
             ,
and assigned Conveyance No.
             .

 

WHEREAS,
Sublessor and Sublessee wish to amend the Sublease to extend the Term of the
Sublease.

 

NOW,
THEREFORE, in consideration of the mutual agreements contained herein, the
parties hereto agree as follows:

 

SECTION 1.    Amendment of Section 1 of the Sublease.   Section 1 of the Sublease is hereby amended
by deleting the definition of “Expiration Date” in its entirety and replacing
it with the following:

 

“Expiration
Date” means December 31, 2017, or such later date to which the
effectiveness of the Airline Services Agreement shall be extended in accordance
with its terms, such that this Sublease and the Airline Services Agreement
shall be coterminous, provided, however, that in no event shall
the “Expiration Date” be a date later than the date of expiration of the term
of the Head Lease.

 

SECTION 2.    Amendment of Exhibit B and Exhibit C to the Sublease.  Exhibits B and C to the Sublease are hereby
deleted in their entirety and replaced with Exhibits B and C hereto.

 

 

SECTION 3.    Ratification.   Except as expressly amended hereby, the Sublease as heretofore
amended, modified or supplemented shall remain in full force and effect in all
respects.

 

SECTION 4.    Miscellaneous.   Any provision of this Amendment which is prohibited or
unenforceable in any jurisdiction, as to such jurisdiction, be ineffective to
the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in
any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction.  No term or
provision of this Amendment may be changed, waived, discharged or terminated
orally, but only by an instrument in writing signed by Sublessor, Sublessee and
any assignee of Sublessor’s rights hereunder. Nothing contained herein shall be
construed as conveying to Sublessee any right, title or interest in the
Aircraft except as sublessee. The section and paragraph headings in this
Amendment and the table of contents are for convenience of reference only and
shall not modify, define, expand or limit any of the terms or provisions hereof
and all references herein to numbered sections, unless otherwise indicated, are
to sections of this Amendment.  THIS
AMENDMENT HAS BEEN DELIVERED IN THE STATE OF NEW YORK AND SHALL IN ALL RESPECTS
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE.
This Amendment may executed by the parties hereto in separate counterparts,
each of which when so executed and delivered shall be an original, but all of
such counterparts shall together constitute but one and the same instrument.

 

2

 

IN WITNESS WHEREOF,
Sublessor and Sublessee have each caused this Amendment to be duly executed as
of the day and year first above written.

 

	
   

  	
  NORTHWEST AIRLINES, INC.,

  
	
   

  	
  Sublessor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PINNACLE AIRLINES, INC.,

  
	
   

  	
  Sublessee

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Agreed this
           day of
        :

  	
   

  	
   

  
	
  PINNACLE AIRLINES CORP.,

  	
   

  	
   

  
	
  Sublessee
  Guarantor

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

3

 

EXHIBIT B

to

First Amendment to

Sublease Agreement

[NW             ]

 

 

EXHIBIT B

to

Sublease Agreement

[NW         ]

 

BASIC
RENT SCHEDULE

 

The
portion of this Exhibit appearing below this text is intentionally deleted from
the FAA filing counterpart as the parties hereto deem it to contain
confidential information.

 

4

 

EXHIBIT C

to

First Amendment to

Sublease Agreement

[NW         ]

 

EXHIBIT C

to

Sublease Agreement

[NW         ]

 

STIPULATED
LOSS VALUE SCHEDULE

 

The
portion of this Exhibit appearing below this text is intentionally deleted from
the FAA filing counterpart as the parties hereto deem it to contain
confidential information.

 

5Exhibit
10.3.1

 

 

 

FIRST AMENDMENT TO ENGINE LEASE
AGREEMENT

[NW           ]

 

Dated as of

 

[           ],
2003

 

Between

 

NORTHWEST AIRLINES, INC.,

                     Lessor

 

AND

 

PINNACLE AIRLINES, INC.,

                     Lessee

 

One General Electric Model CF34-3B1
Engine

 

 

 

 

FIRST AMENDMENT TO ENGINE LEASE
AGREEMENT

[NW           ]

 

This
FIRST AMENDMENT TO ENGINE LEASE AGREEMENT [NW           ], dated as of
[                   ],
2003, between NORTHWEST AIRLINES, INC., a corporation organized and existing
pursuant to the laws of the State of Minnesota (“Lessor”), and PINNACLE
AIRLINES, INC., a corporation organized and existing pursuant to the laws of
the State of Georgia (“Lessee”), to a certain Engine Lease
Agreement [NW          
    ], dated as of
[                   ],
between Lessee and Lessor (as supplemented by Lease Supplement No. 1 [NW
              ]
(“Lease
Supplement No. 1”) between Lessor and Lessee, dated
[                     ],
herein called the “Lease”);

 

Except
as otherwise defined in this Amendment, the terms used herein in capitalized
form shall have the meanings attributed thereto in the Lease;

 

W I T N E S S E T H:

 

WHEREAS,
pursuant to the Lease, Lessee has Leased from Lessor the Engine, a General
Electric Model CF34-3B1 engine bearing manufacturer’s serial no.
                 .

 

WHEREAS,
a counterpart of the Lease, to which was attached and made part thereof Lease
Supplement No. 1, was recorded by the Federal Aviation Administration (the
“FAA”) on
               ,
and assigned Conveyance No.
                   .

 

WHEREAS,
Lessor and Lessee wish to amend the Lease to extend the Term of the Lease.

 

NOW,
THEREFORE, in consideration of the mutual agreements contained herein, the
parties hereto agree as follows:

 

SECTION 1.                                Amendment of
Section 1 of the Lease.   Section 1 of the Lease is hereby amended by deleting the
definition of “Expiration Date” in its entirety and replacing it with the
following:

 

“Expiration
Date” means December 31, 2017, or such later date to which the
effectiveness of the Airline Services Agreement shall be extended in accordance
with its terms, such that this Lease and the Airline Services Agreement shall
be coterminous.

 

SECTION 2.                                Amendment of
Exhibit B and Exhibit C to the Lease.  Exhibits B and C to the Lease are hereby deleted in their
entirety and replaced with Exhibits B and C hereto.

 

SECTION 3.                                Ratification.
  Except as expressly amended
hereby, the Lease as heretofore amended, modified or supplemented shall remain
in full force and effect in all respects.

 

2

 

SECTION 4.                                Miscellaneous.
  Any provision of this
Amendment which is prohibited or unenforceable in any jurisdiction, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.  No term or provision of this Amendment may
be changed, waived, discharged or terminated orally, but only by an instrument
in writing signed by Lessor, Lessee and any assignee of Lessor’s rights
hereunder. Nothing contained herein shall be construed as conveying to Lessee
any right, title or interest in the Engine except as lessee. The
section and paragraph headings in this Amendment and the table of contents
are for convenience of reference only and shall not modify, define, expand or
limit any of the terms or provisions hereof and all references herein to
numbered sections, unless otherwise indicated, are to sections of this
Amendment.  THIS AMENDMENT HAS BEEN DELIVERED IN THE
STATE OF NEW YORK AND SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF
CONSTRUCTION, VALIDITY AND PERFORMANCE. This Amendment may executed
by the parties hereto in separate counterparts, each of which when so executed
and delivered shall be an original, but all of such counterparts shall together
constitute but one and the same instrument.

 

3

 

IN
WITNESS WHEREOF, Lessor and Lessee have each caused this Amendment to be duly
executed as of the day and year first above written.

 

	
   

  	
  NORTHWEST AIRLINES, INC.,

  
	
   

  	
  Lessor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PINNACLE AIRLINES, INC.,

  
	
   

  	
  Lessee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
  Agreed this       day of
         :

  	
   

  
	
  PINNACLE AIRLINES CORP.,

  	
   

  
	
  Lessee
  Guarantor

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
						

 

4

 

EXHIBIT B

to

First Amendment to

Engine Lease

Agreement

[NW             ]

 

 

EXHIBIT B

to

Engine Lease

Agreement

[NW             ]

 

BASIC
RENT SCHEDULE

 

The
portion of this Exhibit appearing below this text is intentionally deleted from
the FAA filing counterpart as the parties hereto deem it to contain
confidential information.

 

5

 

EXHIBIT C

to

First Amendment to

Engine Lease

Agreement

[NW             ]

 

 

EXHIBIT C

to

Engine Lease

Agreement

[NW             ]

 

STIPULATED
LOSS VALUE SCHEDULE

 

The
portion of this Exhibit appearing below this text is intentionally deleted from
the FAA filing counterpart as the parties hereto deem it to contain
confidential information.

 

6

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