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EX-10.13 3 c73820exv10w13.htm EXHIBIT 10.13 Filed by Bowne Pure Compliance
Exhibit 10.13
Supplemental Agreement No. 1
to
Purchase Agreement No. 3157
between
The Boeing Company
And
Federal Express Corporation
Relating to Boeing Model 777-FREIGHTER Aircraft
THIS SUPPLEMENTAL AGREEMENT, entered into as of the 16th day of June, 2008, by and between THE BOEING COMPANY, (Boeing), and Federal Express Corporation (Customer);
W I T N E S S E T H:
WHEREAS, the parties entered into that certain Purchase Agreement No. 3157, dated November 7, 2006 (as amended and supplemented), relating to the purchase and sale of certain Boeing Model 777- FREIGHTER aircraft (the Aircraft); and
WHEREAS, Customer desires to reschedule three Aircraft scheduled for delivery in February, May, 2010 and March 2011 to June 2010(two Aircraft) and June 2011 plus reschedule one option aircraft scheduled for delivery in May 2011 to February 2014;
NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties hereto agree to supplement the Purchase Agreement as follows:
All capitalized terms used herein and in the Purchase Agreement, and not defined herein, shall have the same meaning as in the Purchase Agreement.
| 1. | In order to reschedule the three Aircraft scheduled for delivery in February, May, 2010 and March 2011 to June 2010(two Aircraft) and June 2011, Table 1 to the Purchase Agreement is hereby deleted and replaced with a new Table 1 which is attached hereto. Boeing hereby agrees that such Aircraft slides are at ‘no charge’ to Customer. |
S1-1
| Supplemental Agreement 1 to Purchase Agreement No. 3157 | page 2 |
| 2. | In order to reschedule one option aircraft scheduled for delivery in May 2011 to February 2014, the attachment to Letter 6-1162-RCN-1789, is hereby deleted and replaced with a new attachment to Letter 6-1162-RCN-1789 which is attached hereto. | |
| 3. | Customer agrees that Boeing will retain the excess advance payments that result from the rescheduling in paragraph 1 and will apply them to the first advance payment(s) due by Customer subsequent to the date of this Supplemental Agreement. |
EXECUTED as of the day and year first above written.
| THE BOEING COMPANY | FEDERAL EXPRESS CORPORATION | |||||||
By: | /s/ R.C. Nelson | By: | /s/ Phillip C. Blum | |||||
| Its: Attorney-In-Fact | Its: Vice President — | |||||||
| Aircraft Acquisitions/SAO | ||||||||
S1-2
Table 1 to
Purchase Agreement No. 3157
Aircraft Delivery, Description, Price and Advance Payments
purchase of 15 firm + 15 options
Purchase Agreement No. 3157
Aircraft Delivery, Description, Price and Advance Payments
purchase of 15 firm + 15 options
Airframe Model/MTOW: | 777-Freighter | 766000 pounds | ||||||
Engine Model/Thrust: | GE90-110B1L | 110000 pounds | ||||||
Airframe Price: | $ | 231,629,000 | ||||||
Optional Features: | $ | 3,235,800 | ||||||
Sub-Total of Airframe and Features: | $ | 234,864,800 | ||||||
Engine Price (Per Aircraft): | $ | 0 | ||||||
Aircraft Basic Price (Excluding BFE/SPE): | $ | 234,864,800 | ||||||
Buyer Furnished Equipment (BFE) Estimate: | $ | 1,950,000 | ||||||
Seller Purchased Equipment (SPE) Estimate: | $ | 0 | ||||||
Refundable Deposit/Aircraft at Proposal Accept: | $ | 230,000 | ||||||
Detail Specification: | D019W007-NEW (7/24/2006) | |||||||
Airframe Price Base Year/Escalation Formula: | Jul-06 | ECI-MFG/CPI | ||||||
Engine Price Base Year/Escalation Formula: | N/A | N/A | ||||||
Airframe Escalation Data: | ||||||||
Base Year Index (ECI): | 180.3 | |||||||
Base Year Index (CPI): | 195.4 | |||||||
| Escalation | Escalation Estimate | Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery): | ||||||||||||||||||||||||||
| Delivery | Number of | Factor | Adv Payment Base | At Signing | 24 Mos. | 21/18/15/12/9/6 Mos. | Total | |||||||||||||||||||||
| Date | Aircraft | (Airframe) | Price Per A/P | 1% | 4% | 5% | 35% | |||||||||||||||||||||
Jul-2009 | 1 | 1.0845 | $ | 254,711,000 | $ | 2,317,110 | $ | 10,188,440 | $ | 12,735,550 | $ | 89,148,850 | ||||||||||||||||
Oct-2009 | 1 | 1.0918 | $ | 256,425,000 | $ | 2,334,250 | $ | 10,257,000 | $ | 12,821,250 | $ | 89,748,750 | ||||||||||||||||
Nov-2009 | 1 | 1.0939 | $ | 256,919,000 | $ | 2,339,190 | $ | 10,276,760 | $ | 12,845,950 | $ | 89,921,650 | ||||||||||||||||
Dec-2009 | 1 | 1.0971 | $ | 257,670,000 | $ | 2,346,700 | $ | 10,306,800 | $ | 12,883,500 | $ | 90,184,500 | ||||||||||||||||
Jun-2010 | 2 | 1.1136 | $ | 261,545,000 | $ | 2,385,450 | $ | 10,461,800 | $ | 13,077,250 | $ | 91,540,750 | ||||||||||||||||
Jul-2010 | 1 | 1.1158 | $ | 262,062,000 | $ | 2,390,620 | $ | 10,482,480 | $ | 13,103,100 | $ | 91,721,700 | ||||||||||||||||
Aug-2010 | 1 | 1.1189 | $ | 262,790,000 | $ | 2,397,900 | $ | 10,511,600 | $ | 13,139,500 | $ | 91,976,500 | ||||||||||||||||
Sep-2010 | 1 | 1.121 | $ | 263,283,000 | $ | 2,402,830 | $ | 10,531,320 | $ | 13,164,150 | $ | 92,149,050 | ||||||||||||||||
Oct-2010 | 1 | 1.1231 | $ | 263,777,000 | $ | 2,407,770 | $ | 10,551,080 | $ | 13,188,850 | $ | 92,321,950 | ||||||||||||||||
Nov-2010 | 1 | 1.125 | $ | 264,223,000 | $ | 2,412,230 | $ | 10,568,920 | $ | 13,211,150 | $ | 92,478,050 | ||||||||||||||||
Dec-2010 | 1 | 1.1281 | $ | 264,951,000 | $ | 2,419,510 | $ | 10,598,040 | $ | 13,247,550 | $ | 92,732,850 | ||||||||||||||||
Jan-2011 | 1 | 1.1314 | $ | 265,726,000 | $ | 2,427,260 | $ | 10,629,040 | $ | 13,286,300 | $ | 93,004,100 | ||||||||||||||||
Feb-2011 | 1 | 1.1348 | $ | 266,525,000 | $ | 2,435,250 | $ | 10,661,000 | $ | 13,326,250 | $ | 93,283,750 | ||||||||||||||||
Jun-2011 | 1 | 1.1456 | $ | 269,061,000 | $ | 2,460,610 | $ | 10,762,440 | $ | 13,453,050 | $ | 94,171,350 | ||||||||||||||||
Attachment to
Letter 6-1162-RCN-1789
Option Aircraft Delivery, Description, Price and Advance Payments
purchase of 15 firm + 15 options
Letter 6-1162-RCN-1789
Option Aircraft Delivery, Description, Price and Advance Payments
purchase of 15 firm + 15 options
Airframe Model/MTOW: | 777-Freighter | 766000 pounds | ||||||
Engine Model/Thrust: | GE90-110B1L | 110000 pounds | ||||||
Airframe Price: | $ | 231,629,000 | ||||||
Optional Features: | $ | 3,235,800 | ||||||
Sub-Total of Airframe and Features: | $ | 234,864,800 | ||||||
Engine Price (Per Aircraft): | $ | 0 | ||||||
Aircraft Basic Price (Excluding BFE/SPE): | $ | 234,864,800 | ||||||
Buyer Furnished Equipment (BFE) Estimate: | $ | 1,950,000 | ||||||
Seller Purchased Equipment (SPE) Estimate: | $ | 0 | ||||||
Non-Refundable Deposit/Aircraft at Def Agreement: | $ | 1,925,000 | ||||||
Detail Specification: | D019W007-NEW (7/24/2006 | ) | |||||||
Airframe Price Base Year/Escalation Formula: | Jul-06 | ECI-MFG/CPI | |||||||
Engine Price Base Year/Escalation Formula: | N/A | N/A | |||||||
Airframe Escalation Data: | |||||||||
Base Year Index (ECI): | 180.3 | ||||||||
Base Year Index (CPI): | 195.4 | ||||||||
| Escalation | Escalation Estimate | Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery): | ||||||||||||||||||||||||||
| Delivery | Number of | Factor | Adv Payment Base | At Signing | 24 Mos. | 21/18/15/12/9/6 Mos. | Total | |||||||||||||||||||||
| Date | Aircraft | (Airframe) | Price Per A/P | 1% | 4% | 5% | 35% | |||||||||||||||||||||
Aug-2011 | 2 | 1.1509 | $ | 270,306,000 | $ | 778,060 | $ | 10,812,240 | $ | 13,515,300 | $ | 94,607,100 | ||||||||||||||||
Nov-2011 | 2 | 1.1578 | $ | 271,926,000 | $ | 794,260 | $ | 10,877,040 | $ | 13,596,300 | $ | 95,174,100 | ||||||||||||||||
Feb-2012 | 1 | 1.168 | $ | 274,322,000 | $ | 818,220 | $ | 10,972,880 | $ | 13,716,100 | $ | 96,012,700 | ||||||||||||||||
May-2012 | 1 | 1.1766 | $ | 276,342,000 | $ | 838,420 | $ | 11,053,680 | $ | 13,817,100 | $ | 96,719,700 | ||||||||||||||||
Aug-2012 | 1 | 1.1847 | $ | 278,244,000 | $ | 857,440 | $ | 11,129,760 | $ | 13,912,200 | $ | 97,385,400 | ||||||||||||||||
Nov-2012 | 2 | 1.1914 | $ | 279,818,000 | $ | 873,180 | $ | 11,192,720 | $ | 13,990,900 | $ | 97,936,300 | ||||||||||||||||
Feb-2013 | 1 | 1.2034 | $ | 282,636,000 | $ | 901,360 | $ | 11,305,440 | $ | 14,131,800 | $ | 98,922,600 | ||||||||||||||||
May-2013 | 1 | 1.2117 | $ | 284,586,000 | $ | 920,860 | $ | 11,383,440 | $ | 14,229,300 | $ | 99,605,100 | ||||||||||||||||
Aug-2013 | 2 | 1.2197 | $ | 286,465,000 | $ | 939,650 | $ | 11,458,600 | $ | 14,323,250 | $ | 100,262,750 | ||||||||||||||||
Nov-2013 | 1 | 1.2268 | $ | 288,132,000 | $ | 956,320 | $ | 11,525,280 | $ | 14,406,600 | $ | 100,846,200 | ||||||||||||||||
Feb-2014 | 1 | 1.238 | $ | 290,763,000 | $ | 982,630 | $ | 11,630,520 | $ | 14,538,150 | $ | 101,767,050 | ||||||||||||||||
