Document:

al_Ex10_9

		
			EXHIBIT 10.9
		

		
			 
		

		
			Confidential Treatment
Requested Pursuant to Rule 24b-2
		

		
			 
		

		
			 
		

		
			Supplemental Agreement No. 12
		

		
			to
		

		
			Purchase Agreement No. 03791
		

		
			between
		

		
			THE BOEING COMPANY
		

		
			and
		

		
			AIR LEASE CORPORATION
		

		
			THIS SUPPLEMENTAL AGREEMENT is entered into as of May 30,  2017 (Supplemental Agreement No. 12)  by and between THE BOEING COMPANY (Boeing) and AIR LEASE CORPORATION (Customer).
		

		
			All terms used but not defined in this Supplemental Agreement No. 12 have the same meaning as in the Purchase Agreement.
		

		
			WHEREAS, Boeing and Customer have entered into Purchase Agreement No. 03791 dated as of July 3, 2012 as amended and supplemented (Purchase Agreement) relating to the purchase and sale of Model 737-8 and 737-9 Aircraft;
		

		
			WHEREAS, Boeing and Customer desire to amend the Purchase Agreement to [*].
		

		
			[*]
		

		
			WHEREAS, Boeing and Customer desire to maintain [*] as the lessee [*].
		

		
			NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties agree to amend the Purchase Agreement as follows:
		

		
			1.TABLE OF  CONTENTS.
		

		
			 
		

		

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

		
			
		

		
			

		 

			

					

						 

					

					

						 

					

					

						 

				

		

			 

		

			

					

						HAZ-PA-03791

					

					

						1

					

					

						SA-12

				

		

			 

		

		

			BOEING PROPRIETARY

		

 

		

		
			The Table of Contents is deleted in its entirety, replaced by a new Table of Contents provided hereto as Enclosure 1  and incorporated into the Purchase Agreement by this reference.  The new Table of Contents reflects the revisions set forth in this Supplemental Agreement No. 12.
		

		
			2.TABLES.
		

		
			Table 1D is deleted in its entirety, replaced by a revised Table 1D provided hereto as Enclosure 2  and incorporated into the Purchase Agreement by this reference.  This new Table 1D reflects [*].
		

		
			The Purchase Agreement will be deemed to be amended to the extent herein provided and as so amended will continue in full force and effect.    The terms of this Supplemental Agreement No. 12 expires if not executed by May 31, 2017.
		

		
			EXECUTED IN DUPLICATE as of the day and year first above written.
		

			
					
						THE BOEING COMPANY

					
					
						 

					
					
						AIR LEASE CORPORATION

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ James E. Carpenter

					
					
						 

					
					
						By:

					
					
						/s/ Grant Levy

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Its:

					
					
						Attorney‐In‐Fact

					
					
						 

					
					
						Its:

					
					
						Executive Vice President

				

		
			 
		

		
			 
		

		
			Attachments
		

		
			 
		

		

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

		

		 

			

					

						 

					

					

						 

					

					

						 

				

		

			 

		

			

					

						HAZ-PA-03791

					

					

						2

					

					

						SA-12

				

		

			 

		

		

			BOEING PROPRIETARY

		

 

		

			 

		

		

			Enclosure 1

		

		

			 

		

		

			TABLE OF CONTENTS

		

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						ARTICLES

					
					
						 

					
					
						SA No.

				
	
					
						Article 1.

					
					
						Quantity, Model and Description

					
					
						SA-4

				
	
					
						Article 2.

					
					
						Delivery Schedule

					
					
						 

				
	
					
						Article 3.

					
					
						Price

					
					
						 

				
	
					
						Article 4.

					
					
						Payment

					
					
						 

				
	
					
						Article 5.

					
					
						Additional Terms

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						TABLE

					
					
						 

					
					
						 

				
	
					
						1A

					
					
						737-8 Block A Aircraft Information Table [*]

					
					
						SA-10

				
	
					
						1B

					
					
						737-9 Block B Aircraft Information Table [*]

					
					
						SA-11

				
	
					
						1C

					
					
						737-8 Block C Aircraft Information Table [*]

					
					
						SA-5

				
	
					
						1D

					
					
						737-8 Block D Aircraft Information Table [*]

					
					
						SA-12

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						EXHIBIT

					
					
						 

					
					
						 

				
	
					
						A1

					
					
						737-8 Aircraft Configuration

					
					
						 

				
	
					
						A2

					
					
						737-9 Aircraft Configuration

					
					
						 

				
	
					
						B

					
					
						Aircraft Delivery Requirements and Responsibilities

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						SUPPLEMENTAL EXHIBITS

					
					
						 

				
	
					
						AE1

					
					
						Escalation Adjustment - Airframe and Optional Features

					
					
						 

				
	
					
						BFE1

					
					
						BFE Variables

					
					
						SA-9

				
	
					
						CS1

					
					
						Customer Support Variables

					
					
						 

				
	
					
						EE1

					
					
						[*], Engine Warranty and Patent Indemnity

					
					
						 

				
	
					
						SLP1

					
					
						Service Life Policy Components

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						LETTER AGREEMENTS

					
					
						 

				
	
					
						LA-1208077

					
					
						AGTA Matters

					
					
						 

				
	
					
						LA-1208078R3

					
					
						Advance Payment Matters

					
					
						SA-5

				
	
					
						LA-1208079

					
					
						[*]

					
					
						SA-4

				
	
					
						LA-1208080

					
					
						Assignment of Customer’s Interest to a Subsidiary or Affiliate

					
					
						 

				
	
					
						LA-1208081

					
					
						Other Matters

					
					
						 

				
	
					
						LA-1208082

					
					
						Demonstration Flight Waiver

					
					
						 

				
	
					
						LA-1208083R2

					
					
						[*]

					
					
						SA-5

				
	
					
						LA-1208084

					
					
						Leasing Matters

					
					
						 

				
	
					
						LA-1208085

					
					
						Liquidated Damages for Non-Excusable Delay

					
					
						 

				
	
					
						LA-1208086

					
					
						Loading of Customer Software

					
					
						 

				

		
			 
		

		

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

		
			
		

		

		 

		

			 

		

			

					

						HAZ-PA-03791

					

					

						i

					

					

						SA-12

				

		

			 

		

		

			BOEING PROPRIETARY

		

 

		

			 

		

		

			Enclosure 1

		

		

			 

		

		

			TABLE OF CONTENTS

		

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						LA-1208087R1

					
					
						Open Matters for 737-8 and 737-9 Aircraft

					
					
						SA-4

				
	
					
						LA-1208088

					
					
						Performance Matters

					
					
						 

				
	
					
						LA-1208089R1

					
					
						[*]

					
					
						SA-4

				
	
					
						LA-1208090R5

					
					
						Special Matters

					
					
						SA-11

				
	
					
						LA-1208091

					
					
						AGTA Term Revisions for 737-8 and 737-9 Aircraft

					
					
						 

				
	
					
						LA-1208092

					
					
						[*]

					
					
						 

				
	
					
						LA-1208958

					
					
						[*]

					
					
						 

				
	
					
						LA-1208963

					
					
						[*]

					
					
						SA-4

				
	
					
						LA-1209052

					
					
						[*]

					
					
						 

				
	
					
						LA-1300032

					
					
						[*]

					
					
						SA-4

				
	
					
						LA-1400773

					
					
						[*]

					
					
						SA-4

				
	
					
						LA-1401489

					
					
						[*]

					
					
						SA-4

				
	
					
						LA-1701519

					
					
						Special Matters related to [*]

					
					
						SA-10

				

		
			 
		

		

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

		
			 
		

		

		 

		

			 

		

			

					

						HAZ-PA-03791

					

					

						ii

					

					

						SA-12

				

		

			 

		

		

			BOEING PROPRIETARY

		

 

		

			 

		

		

			Enclosure 2

		

		

			 

		

		

			Table 1D

		

		

			to Purchase Agreement No. PA-03791

		

		

			737-8 Block D [*] Aircraft Delivery, Description, Price and Advance Payments

		

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Airframe Model/MTOW:

					
					
						737-8

					
					
						181200 pounds

					
					
						 

					
					
						Detail Specification:

					
					
						D019A008-L  (10/5/2015)

				
	
					
						Engine Model/Thrust:

					
					
						CFMLEAP-1B25

					
					
						25000 pounds

					
					
						 

					
					
						Airframe Price Base Year/Escalation Formula:

					
					
						[*]

					
					
						[*]

				
	
					
						Airframe Price:

					
					
						 

					
					
						[*]

					
					
						 

					
					
						Engine Price Base Year/Escalation Formula:

					
					
						[*]

					
					
						[*]

				
	
					
						Optional Features:

					
					
						 

					
					
						[*]

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Sub-Total of Airframe and Features:

					
					
						 

					
					
						[*]

					
					
						 

					
					
						Airframe Escalation Data:

					
					
						 

					
					
						 

				
	
					
						Engine Price (Per Aircraft):

					
					
						 

					
					
						[*]

					
					
						 

					
					
						Base Year Index (ECI):

					
					
						[*]

					
					
						 

				
	
					
						Aircraft Basic Price (Excluding BFE/SPE):

					
					
						 

					
					
						[*]

					
					
						 

					
					
						Base Year Index (CPI):

					
					
						[*]

					
					
						 

				
	
					
						Buyer Furnished Equipment (BFE) Estimate:

					
					
						 

					
					
						[*]

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Seller Purchased Equipment (SPE) Estimate:

					
					
						 

					
					
						[*]

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Refundable Deposit/Aircraft at Proposal Accept:

					
					
						 

					
					
						[*]

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				

		
			 
		

			
					
						 

					
					
						 

					
					
						Manufacturer

					
					
						Escalation

					
					
						 

					
					
						 

					
					
						Escalation Estimate

					
					
						Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

				
	
					
						Delivery

					
					
						Number of

					
					
						Serial 

					
					
						Factor

					
					
						 

					
					
						P.A.

					
					
						Adv Payment Base

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						Date

					
					
						Aircraft

					
					
						No.

					
					
						(Airframe)

					
					
						Lessee

					
					
						Exhibit A

					
					
						Price Per A/P

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						[*]-2017

					
					
						1

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						[*]

					
					
						1

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						[*]

					
					
						1

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						[*]

					
					
						1

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						[*]

					
					
						1

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						[*]

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						[*]

					
					
						1

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						[*]-2021

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						 

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

					
					
						[*]

				
	
					
						Total:

					
					
						6

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			[*]
		

		
			 
		

		
			Manufacturer serial number is subject to change due to production changes.
		

		
			 
		

		

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

		 

			

					

						 

					

					

						 

					

					

						 

				

		

			 

		

			

					

						HAZ-PA-03791 85773-IF.TXT

					

					

						Boeing Proprietary

					

					

						SA-12
Page 1Exhibit

EXECUTION VERSION

AMENDMENT NO. 1 TO STOCK PURCHASE AGREEMENT
This AMENDMENT NO. 1 (this “Amendment”) to that certain STOCK PURCHASE AGREEMENT, dated as of March 29, 2017 (the “Agreement”), is made and entered into as of July 31, 2017, by and between Shanghai Huaxin Group (HongKong) Limited, a Hong Kong company (the “Investor”), and Cowen Inc. (f/k/a Cowen Group, Inc.), a Delaware corporation (the “Company”).
W I T N E S S E T H:
WHEREAS, each of the Company and the Investor (collectively, the “Parties”) have previously entered into the Agreement; and
WHEREAS, the Parties desire to amend the Agreement, in accordance with Section 8.09 thereof, as set forth below.
NOW, THEREFORE, in consideration of the mutual agreements and covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and subject to the terms and conditions hereinafter set forth, each of the Parties hereto agree as follows:
1.Definitions.  All terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement. 
2.Amendment.  Section 7.01(e) of the Agreement is hereby amended and restated in its entirety to read as follows:
“ by either the Company or the Investor if the Closing shall not have occurred by the date that is December 31, 2017; or”
3.Effect on Agreement.  Except as expressly provided by this Amendment, the Agreement and each other agreement, document and instrument delivered in connection therewith or relating thereto shall continue in full force and effect in accordance with their respective terms.
4.Miscellaneous.
a.    Severability.  If any term or other provision of this Amendment is invalid, illegal or incapable of being enforced by any Law or public policy, all other terms and provisions of this Amendment shall nevertheless remain in full force and effect for so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party hereto.  Upon a determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties hereto shall negotiate in good faith to modify this Amendment so as to effect the original intent of the Parties as closely as possible in an enforceable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. 
b.    Entire Agreement.  The Agreement (including the exhibits and schedules thereto and the Company Disclosure Schedule), as amended by this Amendment, the Confidentiality Agreement and the other Transaction Agreements constitute the entire agreement of the parties hereto with respect to the subject matter hereof and thereof and supersede all prior agreements and undertakings, both written and oral, among the Company and the Investor with respect to the subject matter hereof and thereof; provided that Section 7 (Standstill) of the Confidentiality Agreement shall terminate and have no further force and effect immediately upon the Closing
c.    Amendment.  This Amendment may not be amended or modified except (i) by an instrument in writing signed by, or on behalf of, the Company and the Investor, or (ii) by a waiver in accordance with Section 4(d) of this Amendment. 
d.    Waiver.  The Company or the Investor may (i) extend the time for the performance of any of the obligations or other acts of any other Party, (ii) waive any inaccuracies in the representations and warranties of any other Party contained herein or in any document delivered by any other party pursuant hereto, or (iii) waive compliance with any of the agreements of any other Party or conditions to such Party’s obligations contained herein.  Any such extension or waiver shall be valid only if set forth in an instrument in writing signed by the Party that is giving the waiver.  Any waiver of any term or condition shall not be construed as a waiver of any subsequent breach or a subsequent waiver of the same term or condition, or a waiver of any other term or condition of this Amendment.  The failure of any Party hereto to assert any of its rights hereunder shall not constitute a waiver of any of such rights.  All rights and remedies existing under this Amendment are cumulative to, and not exclusive of, any rights or remedies otherwise available. 
e.    No Third-Party Beneficiaries.  This Amendment shall be binding upon and inure solely to the benefit of the Parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Amendment. 
f.    Governing Law; Arbitration; Jurisdiction; Waiver of Jury Trial.  This Amendment shall be construed, performed and enforced in accordance with, and governed by, the Law of the State of New York applicable to contracts executed in and to be performed in that State, without regard to principles of the conflict of Law.  Sections 8.12(b) and 8.12(c) of the Agreement are incorporated herein by reference, mutatis mutandis, as if they were restated in full, with each reference to “this Agreement” in such sections of the Agreement being deemed a reference this Amendment. 
g.    Counterparts.  This Amendment may be executed and delivered (including by facsimile transmission of portable document format (“.pdf”)) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement. 

[Signature pages follow.]

IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be executed as of the date first above written.
COWEN INC.

By:    /s/ Jeffrey Solomon            
Name:  Jeffrey Solomon
Title:  President

SHANGHAI HUAXIN GROUP (HONGKONG) LIMITED

By:    /s/ Li Yong                    
Name:  Li Yong
Title:  Authorised Signatory

1

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