Amendment No. 18 to Purchase Agreement COM0041-16 between Embraer S.A. and Horizon Air Industries, Inc

This Amendment No.18 [COM0515-21] (the "Amendment No.18") dated as of November 16, 2021 is between EMBRAER S.A., a corporation existing under the laws of Brazil, which address and principal place of business is at Avenida Brigadeiro Faria Lima, 2170, prédio F-100, Putim, in the city of São José dos Campos, State of São Paulo, Brazil (“Embraer”); YABORÃ INDÚSTRIA AERONÁUTICA S.A., a corporation existing under the laws of Brazil, with office at Avenida Brigadeiro Faria Lima, 2170, in the City of São José dos Campos, State of São Paulo, Brazil ("Embraer Commercial") and HORIZON AIR INDUSTRIES, INC. ("Buyer"), collectively referred to herein as the “Parties”, and constitutes an amendment and modification to Purchase Agreement COM0041-16 dated April 11th, 2016 as amended and assigned from time to time (the "Purchase Agreement").

Embraer and Embraer Commercial are referred collectively as “Seller”.

All capitalized terms not otherwise defined herein shall have the same meaning when used herein as provided in the Purchase Agreement and in case of any conflict between this Amendment No. 18 and the Purchase Agreement, this Amendment No. 18 shall control.

WHEREAS, Buyer and Seller executed the Amendment No.17 on November 16, 2021 to the Purchase Agreement to reflect the agreement related to the transfer of five (5) delivery positions held by Buyer to Skywest, Inc. (“Skywest”).

WHEREAS, Buyer and Seller have agreed to reinstate five (5) Firm Aircraft into the Purchase Agreement according to the terms and conditions stated hereinafter.

NOW, THEREFORE, for good and valuable consideration, which is hereby acknowledged by the Parties, Seller and Buyer agree as follows:

    

Buyer has requested and Seller has agreed to reinstate five (5) Firm Aircraft into the Purchase Agreement. As a result of such order increase, Article 2 of the Purchase Agreement is hereby deleted and replaced as follows:

2.1 Seller shall sell and deliver and Buyer shall purchase and take delivery of thirty five (35) Firm Aircraft and seven (7) Confirmed Option Aircraft;

2.2 Seller shall provide to Buyer the Services and the Technical Publications as described in Attachment “B” to this Agreement; and

2.3 Buyer shall have the option to purchase up to twenty-one (21) Option Aircraft, in accordance with Article 21.”

As a result of the change referred to in Article 1 of this Amendment No. 18, Attachment E to the Purchase Agreement is hereby deleted and replaced in its entirety by Attachment E to this Amendment No. 18, which shall be deemed to be Attachment E for all purposes under the Purchase Agreement.

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This Amendment No.18 shall become effective subject to Skywest receiving a written notice of termination from Buyer, with copy to Seller, on or before January 15th, 2022 in regards to the termination under the CPA between Buyer and Skywest of five (5) aircraft, in which case the five (5) delivery slots previously terminated shall be reinstated in the Purchase Agreement with the deliveries in October/2022, October/ 2022, November/ 2022, March/ 2023 and April/ 2023.

If such written notice is not provided by 11:59 pm (Eastern Time) on January 15th, 2022, then this Amendment No. 18 shall not be effective and be considered null and void, and of no force and effect.

For avoidance of doubt, Seller’s and Buyer’s rights and obligations under the current Purchase Agreement shall continue to be in full force and effect, with no changes until the effectiveness of this Amendment No.18, if it is the case.

All other provisions and conditions of the referenced Purchase Agreement, as well as its related Attachments and Letter Agreement, which are not specifically modified by this Amendment No. 18 shall remain in full force and effect without any change.

This Amendment No. 18 may be signed by the Parties hereto in any number of separate counterparts with the same effect as if the signatures thereto and hereto were upon the same instrument and all of which when taken together shall constitute one and the same instrument.

This Amendment No. 18 may be signed by facsimile with originals duly signed to follow by an internationally recognized courier.

IN WITNESS WHEREOF, Seller and Buyer, by their duly authorized officers, have entered into and executed this Amendment No. 18 to be effective according to the terms and conditions stated in Article 4 of this Amendment No.18.

EMBRAER S.A.    HORIZON AIR INDUSTRIES, INC.

    

By: _______________________        By: ________________________

Name:                        Name:

Title:                        Title:

By:________________________         

Name:                            

Title:                        

Place: ______________________     Place: _____________________

                            

AERONÁUTICA S.A.    

By: _______________________        

Name:                        

Title:                        

    

By: _______________________        

Name:                

        

Title:        

Place: ______________________