SEC Contract Filing

Filing Date: 2020-05-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>al-20200331xex10d5.htm
<DESCRIPTION>EX-10.5
<TEXT>
<!--HTML document created with Toppan Merrill Bridge 9.6.0.116-->
<!--Created on: 5/7/2020 2:15:25 PM-->
<html>
	<head>
 <title>
 al_Ex10_5
 </title>
	</head>
	<body><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
 <p style="margin:0pt 0pt 12pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;">EXHIBIT 10.5</font>
 </p>
 <p style="margin:0pt 0pt 6pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;text-decoration:underline;">INDEMNIFICATION AGREEMENT</font>
 </p>
 <p style="margin:0pt 0pt 6pt;text-indent:24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;">This Indemnification Agreement (&#x201C;Agreement&#x201D;) is made as of&nbsp;[_____], 20[__] by and between Air Lease Corp., a Delaware corporation (the &#x201C;Company&#x201D;), and [</font><font style="display:inline;font-family:Times New Roman,Times,serif;text-decoration:underline;">_____</font><font style="display:inline;font-family:Times New Roman,Times,serif;">] (&#x201C;Indemnitee&#x201D;). This Agreement supersedes and replaces any and all previous Agreements between the Company and Indemnitee covering the subject matter of this Agreement.</font>
 </p>
 <p style="margin:0pt 0pt 6pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;">RECITALS</font>
 </p>
 <p style="margin:0pt 0pt 6pt;text-indent:24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;">WHEREAS, highly competent persons have become more reluctant to serve publicly-held corporations as directors, officers or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation;</font>
 </p>
 <p style="margin:0pt 0pt 6pt;text-indent:24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;">WHEREAS, Indemnitee may be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware, as the same exists or may hereafter be amended (the &#x201C;DGCL&#x201D;) and the DGCL expressly provides that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification;</font>
 </p>
 <p style="margin:0pt 0pt 6pt;text-indent:24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;">WHEREAS, the Fourth Amended and Restated Bylaws of the Company (the &#x201C;Bylaws&#x201D;) and the Restated Certificate of Incorporation of the Company (the &#x201C;Certificate of Incorporation&#x201D; and, together with the Bylaws, the &#x201C;Organizational Documents&#x201D;) require indemnification of the officers and directors of the Company to the fullest extent authorized by the DGCL;</font>
 </p>
 <p style="margin:0pt 0pt 6pt;text-indent:24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;">WHEREAS, in order to attract and retain qualified individuals, the Company maintains on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities;</font>
 </p>
 <p style="margin:0pt 0pt 6pt;text-indent:24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;">WHEREAS, the furnishing of such insurance has been a customary and widespread practice among United States-based corporations and other business enterprises, the Company believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions, while at the same time, directors, officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise itself;</font>
 </p>
 <p style="margin:0pt 0pt 6pt;text-indent:24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;">WHEREAS, the uncertainties relating to such insurance and to indemnification may increase the difficulty of attracting and retaining such person;</font>
 </p>
 <p style="margin:0pt 0pt 6pt;text-indent:24.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
 <font style="display:inline;font-family:Times New Roman,Times,serif;">WHEREAS, the Board of Directors of the Company (the &#x201C;Board&#x201D;) has determined that the increased difficulty in attracting and retaining such persons is