Exhibit 10.12 Exhibit 10.13

EX-10.12 13 d657205dex1012.htm EX-10.12 EX-10.12

Exhibit 10.12

Supplemental Agreement No. 31

to

Purchase Agreement No. 3157

between

The Boeing Company

And

Federal Express Corporation

Relating to Boeing Model 777-FREIGHTER Aircraft

THIS SUPPLEMENTAL AGREEMENT No. 31 (SA-31), entered into as of the 14th day of September_2018, by and between THE BOEING COMPANY (Boeing) and FEDERAL EXPRESS CORPORATION (Customer);

W I T N E S S E T H:

A. WHEREAS, the parties entered into that certain Purchase Agreement No. 3157, dated November 7, 2006 (Purchase Agreement), relating to the purchase and sale of certain Boeing Model 777-FREIGHTER Aircraft (Aircraft);

B. WHEREAS, Customer desires to reschedule the delivery month of one (1) Block B Aircraft, as shown in the table below (SA-31 Accelerated Block B Aircraft):

 

Aircraft Block

   

MSN

   

Table

   

Existing Delivery Month

of Aircraft

   

Revised Delivery Month

of Aircraft

B    40682    1-A    [*]    [*]

C. WHEREAS, Boeing has agreed to provide additional commercial and business considerations for the SA-31 Accelerated Block B Aircraft.

D. WHEREAS, Customer desires to reschedule the delivery month of one (1) Block D Aircraft, as shown in the table below (SA-31 Accelerated Block D Aircraft):

 

Aircraft Block

   

MSN

   

Table

   

Existing Delivery Month

of Aircraft

   

Revised Delivery Month

of Aircraft

D    41737    1-D    [*]    [*]

 

 

P.A. No. 3157    1    SA–31
   BOEING PROPRIETARY   

*  Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

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

All terms used herein and in the Purchase Agreement, and not defined herein, shall have the same meaning as in the Purchase Agreement.

 

1.

Remove and replace, in its entirety, the “Table of Contents” with the revised Table of Contents, attached hereto, to reflect the changes made by this Supplemental Agreement No. 31.

 

2.

Boeing and Customer agree that upon execution of this Supplemental Agreement No. 31 the SA-31 Accelerated Block B Aircraft is hereby rescheduled as described in Recital Paragraph B above.

 

3.

Boeing and Customer agree that upon execution of this Supplemental Agreement No. 31 the SA-31 Accelerated Block D Aircraft is hereby rescheduled as described in Recital Paragraph D above.

 

4.

Remove and replace, in its entirety, “Table 1-A”, with the revised Table 1-A, attached hereto, revised to change the delivery month of the [*] aircraft to [*]. Furthermore, Boeing and Customer agree that there will not be any change to the current [*], [*], and [*] used for the revised aircraft delivery described in Recital Paragraph B and will remain the same as of SA-30.

 

5.

Remove and replace, in its entirety, “Table 1-D”, with the revised Table 1-D, attached hereto, revised to change the delivery month of the [*] aircraft to [*]. Furthermore, Boeing and Customer agree that there will not be any change to the current [*], [*], and [*] used for the revised aircraft delivery described in Recital Paragraph D and will remain the same as of SA-30.

 

6.

This Supplemental Agreement No. 31 to the Purchase Agreement shall not be effective unless executed and delivered by the parties on or prior to September 14, 2018.

 

 

P.A. No. 3157    2    SA–31
   BOEING PROPRIETARY   

*  Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

EXECUTED as of the day and year first above written.

 

THE BOEING COMPANY     FEDERAL EXPRESS CORPORATION
By:  

/s/ Dennis A. Toy

     By:  

/s/ Kevin A. Burkhart

Its:  

Attorney-In-Fact

     Its:  

Vice President

 

 

P.A. No. 3157    3    SA–31
   BOEING PROPRIETARY   

TABLE OF CONTENTS

 

ARTICLES

        

SA

NUMBER

  

1.

   

Quantity, Model and Description

   

2.

   

Delivery Schedule

   

3.

   

Price

   

4.

   

Payment

   

5.

   

Miscellaneous

   

TABLE

       

1.

    Aircraft Information Table      30  

1-A

    Block B Firm Aircraft Information Table      31  

1-B

    Block B Conditional Firm Aircraft Information Table      30  

1-C

    Block C Aircraft Information Table      13  

1-C1

    Block C Aircraft Information Table (MSN 39285)      11  

1-C2

    Block C Aircraft Information Table      29  

1-D

    Block D Aircraft Information Table      31  

1-E1

    Block E Firm Aircraft Information Table (Block E1)      30  

1-E2

    Block E Conditional Firm Aircraft Information Table (Block E2)      30  

EXHIBIT

       

A.

    Aircraft Configuration      4  

A1.

    Aircraft Configuration (Block B Aircraft)      4  

A2.

    Aircraft Configuration (Block C Aircraft except MSN 39285)      11  

A3.

    Aircraft Configuration (Block C Aircraft w/ MSN 39285)      11  

A4.

    Aircraft Configuration (Block D Aircraft)      12  

A5.

    Aircraft Configuration (Block E Aircraft)      30  

B.

   

Aircraft Delivery Requirements and Responsibilities

   

SUPPLEMENTAL EXHIBITS

       

AE1.

   

Escalation Adjustment/Airframe and Optional Features

   

CS1.

   

Customer Support Variables

   

EE1.

   

Engine Escalation/Engine Warranty and Patent Indemnity

   

SLP1.

   

Service Life Policy Components

   

 

 

P.A. No. 3157    4    SA–31
   BOEING PROPRIETARY   

LETTER AGREEMENT

        

SA

NUMBER

3157-01

   

777 Spare Parts Initial Provisioning

   

3157-02

   

Demonstration Flight Waiver

   

6-1162-RCN-1785

   

Demonstrated Compliance

   

6-1162-RCN-1789

  

Option Aircraft

Attachment to Letter 6-1162-RCN-1789

    Exercised in SA # 4

6-1162-RCN-1790

   

Special Matters

   

6-1162-RCN-1791

   

Performance Guarantees

    4

6-1162-RCN-1792

   

Liquidated Damages Non-Excusable Delay

   

6-1162-RCN-1793

   

Open Configuration Matters

   

6-1162-RCN-1795

   

AGTA Amended Articles

   

6-1162-RCN-1796

   

777 First-Look Inspection Program

   

6-1162-RCN-1797

   

Licensing and Customer Supplemental Type Certificates

   

6-1162-RCN-1798

  

777 Boeing Converted Freighter

    Deleted in SA # 4

6-1162-RCN-1798R1

   

777 Boeing Converted Freighter

    4

6-1162-RCN-1799R1

   

[*]

    24

6-1162-RRO-1062

  

Option Aircraft

Attachment to Letter 6-1162-RRO-1062

   

4

30

6-1162-RRO-1065

   

Performance Guarantees for Block B Aircraft

    4

6-1162-RRO-1066R1

   

Special Matters for Block B Aircraft

    22

6-1162-RRO-1067R1

   

Special Matters for Option Aircraft detailed in Letter Agreement 6-1162-RRO-1062

    30

6-1162-RRO-1068R1

   

Special Provision – Block B and Block E2 Aircraft

    30

FED-PA-LA-1000790R3

   

Special Matters for Block C Aircraft

    20

FED-PA-LA-1001683R2

   

Special Matters for Block D Aircraft

    19

6-1162-RRO-1144R7

   

[*] as related to SAs #8, #13 through #16, SA # 18 through SA #20

    20

6-1162-SCR-137

   

777F Miscellaneous Matters

    20

6-1162-SCR-154

   

[*] Letter

    22

6-1162-SCR-155

   

[*] Engine Hard Mount Letter

    22

6-1162-SCR-186

   

[*], Non-Isolated Engine Mounts Letter

    23

6-1162-SCR-193 R1

   

[*] Matters and [*]

Special Matters

    30

 

 

P.A. No. 3157    5    SA–31
   BOEING PROPRIETARY   

*  Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

LETTER AGREEMENT (Con’t)

        

SA

NUMBER

6-1162-LKJ-0726

   

[*]

    24
  

SA-24 Accelerated Block B Aircraft

   

6-1162-LKJ-0737R1

   

Special Matters – SA-26 Accelerated Block C Aircraft

    29

6-1162-LKJ-0758

   

Special Matters – SA-27 Accelerated Block B Aircraft

    27

6-1162-LKJ-0768

   

Special Matters – SA-28 Accelerated Aircraft

    28

6-1162-LKJ-0766

   

Special Matters – SA-29 Accelerated Aircraft

    29

6-1162-LKJ-0767

   

Special Considerations – SA-29

    29

FED-PA-3157-LA-1802894

   

Special Matters for Block E Aircraft

    30

6-1169-LKJ-0776

   

SA-30 Option Aircraft

    30

6-1169-LKJ-0777

   

Special Matters – SA-30 Option Aircraft

    30

6-1169-LKJ-0778

   

SA-30 [*] Matters

    30

 

 

P.A. No. 3157    6    SA–31
   BOEING PROPRIETARY   

*  Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

SUPPLEMENTAL AGREEMENTS

   

DATED AS OF:

Supplemental Agreement No. 1

   

May 12, 2008

Supplemental Agreement No. 2

   

July 14, 2008

Supplemental Agreement No. 3

   

December 15, 2008

Supplemental Agreement No. 4

   

January 9, 2009

Supplemental Agreement No. 5

   

January 11, 2010

Supplemental Agreement No. 6

   

March 17, 2010

Supplemental Agreement No. 7

   

March 17, 2010

Supplemental Agreement No. 8

   

April 30, 2010

Supplemental Agreement No. 9

   

June 18, 2010

Supplemental Agreement No. 10

   

June 18, 2010

Supplemental Agreement No. 11

   

August 19, 2010

Supplemental Agreement No. 12

   

September 3, 2010

Supplemental Agreement No. 13

   

August 27, 2010

Supplemental Agreement No. 14

   

October 25, 2010

Supplemental Agreement No. 15

   

October 29, 2010

Supplemental Agreement No. 16

   

January 31, 2011

Supplemental Agreement No. 17

   

February 14, 211

Supplemental Agreement No. 18

   

March 31, 2011

Supplemental Agreement No. 19

   

October 27, 2011

Supplemental Agreement No. 20

   

December 14, 2011

Supplemental Agreement No. 21

   

June 29, 2012

Supplemental Agreement No. 22

   

December 11, 2012

Supplemental Agreement No. 23

   

December 10, 2013

Supplemental Agreement No. 24

   

May 4, 2016

Supplemental Agreement No. 25

   

June 10, 2016

 

 

P.A. No. 3157    7    SA–31
   BOEING PROPRIETARY   

SUPPLEMENTAL AGREEMENTS (Con’t)

   

DATED AS OF:

Supplemental Agreement No. 26

   

February 10, 2017

Supplemental Agreement No. 27

   

October 12, 2017

Supplemental Agreement No. 28

   

January 28, 2018

Supplemental Agreement No. 29

   

February 2, 2018

Supplemental Agreement No. 30

   

June 18, 2018

Supplemental Agreement No. 31

   

September     , 2018

 

 

P.A. No. 3157    8    SA–31
   BOEING PROPRIETARY   

Table 1-A to Purchase Agreement No. 3157

Aircraft Delivery, Description, Price and Advance Payments

Block B Firm

 

Airframe Model/MTOW:   777-Freighter   766000 pounds    Detail Specification: D019W007FED7F-1, Rev G dated July 25, 2012
Engine Model/Thrust:   GE90-110B1L   110000 pounds   

Airframe Price Base Year/Escalation Formula:

       [*]   ECI-MFG/CPI
Airframe Price:     [*]   

Engine Price Base Year/Escalation Formula:

       N/A   N/A
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:     [*]       

Non-Refundable Deposit/

Aircraft at Def Agreement:

     [*]       

 

          Escalation              Escalation Estimate   

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

Delivery    Number of    Factor    MSN         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%

[*]

    1    [*]    40674       [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    40675       [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    40684    SA-24 Accelerated Block B Aircraft    [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    40683    SA-28 Accelerated Block B Aircraft    [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    40685    SA-27 Accelerated Block B Aircraft    [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    40671    SA-29 Accelerated Block B Aircraft    [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    40672    SA-29 Accelerated Block B Aircraft    [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    40682    SA-29 and SA-31 Accelerated Block B Aircraft    [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    40673       [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    40676       [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    40679       [*]    [*]    [*]    [*]    [*]

Total:

    11      

*   SA-24 Accelerated Block B Aircraft. [*] for the SA-24 Accelerated Block B Aircraft are subject to Letter Agreement 6-1162-LKJ-0726.

        

**   SA-27 Accelerated Block B Aircraft. [*] for the SA-27 Accelerated Block B Aircraft are subject to Letter Agreement 6-1162-LKJ-0758.

        

***  SA-29 and SA-31 Accelerated Block B Aircraft. This Aircraft is an [*] delivery revised to [*]. [*] for this SA-29 and SA-31 Accelerated Block B Aircraft remain unchanged from SA 30 Letter Agreement 6-1169-LKJ-0778. For avoidance of doubt, the [*], [*], and [*] for this SA-29 and SA-31 Accelerated Block B Aircraft is based on the [*] delivery as described in SA-30.

NOTES:    [*]

 

APR No. 50270, 62654, 79650, 106232, 108205    Supplemental Agreement No. 31
     
   BOEING PROPRIETARY   

*  Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

 

Table 1-D To

Purchase Agreement No. PA-3157

Aircraft Delivery, Description, Price and Advance Payments

 

Airframe Model/MTOW:   777-Freighter   766000 pounds    Detail Specification: D019W007FED7F-1 Rev E dated August 29, 2011
Engine Model/Thrust:   GE90-110B1L   110100 pounds    Airframe Price Base Year/Escalation Formula:       [*]   ECI-MFG/CPI
Airframe Price:     [*]    Engine Price Base Year/Escalation Formula:       N/A   N/A
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:     [*]       
Deposit per Aircraft:     [*]       
                                  

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

Delivery    Number of   

Escalation

Factor

                  

Escalation Estimate

Adv Payment Base

    At Signing    24 Mos.    21/18/15/12/9/6 Mos.    Total

Date

   

Aircraft

   

(Airframe)

   

MSN

        

Deposit

   

Price Per A/P

   

1%

   

4%

   

5%

   

35%

Block D Aircraft

                              

[*]

    1    [*]    41439       [*]    [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    41440       [*]    [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    41736       [*]    [*]    [*]    [*]    [*]    [*]

[*]

    1    [*]    41737    SA-31 Accelerated Block D Aircraft    [*]    [*]    [*]    [*]    [*]    [*]
   4      

1  [*]

2  In SA #19, one (1) [*] Aircraft was moved to [*]. [*]

3  SA-31 Accelerated Block D Aircraft. This Aircraft is an [*] delivery revised to [*]. [*] for this SA-31 Accelerated Block D Aircraft remain unchanged from SA 30. For avoidance of doubt, the [*], [*], and [*] for this SA-31 Accelerated Block D Aircraft is based on the [*] delivery as described in SA-30 and SA-20.

 

FED 54641, 55684, 56375, and 58384    Supplemental Agreement No. 31
      Page 1
   Boeing Proprietary   

*  Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.