EX-101 INSTANCE DOCUMENT

Exhibit 10.10

TENTH AMENDMENT

to the

COMPOSITE LEASE AGREEMENT

By and Between

MEMPHIS-SHELBY COUNTY AIRPORT AUTHORITY

and

FEDERAL EXPRESS CORPORATION

Effective as of May 1, 2018

TENTH AMENDMENT

TO THE COMPOSITE LEASE AGREEMENT

This TENTH Amendment to the Composite Lease Agreement is made and entered into as of the 22 day of May 2018, by and between MEMPHIS-SHELBY COUNTY AIRPORT AUTHORITY (herein referred to as “Authority”), a body politic and corporate, organized and existing under the laws of the State of Tennessee, and FEDERAL EXPRESS CORPORATION (herein referred to as “Tenant”), a corporation duly organized and existing under the laws of the State of Delaware.

WITNESSETH:

WHEREAS Authority and Tenant executed an instrument entitled “Composite Lease Agreement” with an effective date of January 1, 2007, that instrument, as previously amended by First Amendment to the Composite Lease Agreement intended to be effective as of September 1, 2008; by Second Amendment to the Composite Lease Agreement intended to be effective as of June 1, 2009; by Third Amendment to the Composite Lease Agreement intended to be effective as of July 1, 2009; by Fourth Amendment to the Composite Lease Agreement intended to be effective as of December 15, 2011; by Fifth Amendment to the Composite Lease Agreement intended to be effective as of January 1, 2013; by Sixth Amendment to the Composite Lease intended to be effective July 1, 2014; by Seventh Amendment to the Composite Lease intended to be effective April 1, 2016; by Eighth Amendment to the Composite Lease intended to be effective April 1, 2017; and by Ninth Amendment to the Composite Lease intended to be effective September 1, 2017, are collectively referred to herein as the “Composite Lease Agreement”; and

WHEREAS, Authority and Tenant intended the Composite Lease Agreement to represent each of 29 separate lease agreements between the parties (later increased to 32) and showed the differences among the 29 (later 32 leases) by attaching to the Composite Lease Agreement, a schedule that identified each parcel of real property Authority leased to Tenant, the portion of the Term (as defined in the Composite Lease Agreement) during which the lease of each parcel will be in effect, and the rent that Tenant pays to Authority for each parcel, the “Composite Lease Property Rental Schedule”, attached hereto as “EXHIBIT A” and incorporated herein by reference; and

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WHEREAS, the parties wish to amend the Composite Lease Agreement to add 20.320 acres or 885,880 square feet of unimproved ground (also known as the Golden Triangle Ramp area) as Parcel 33 to be used as aircraft parking, effective May 1, 2018.

NOW, THEREFORE, for and in consideration of the promises, covenants and agreements hereinafter contained to be kept and performed by the parties hereto and upon the provisions and conditions hereinafter set forth, Authority and Tenant do hereby covenant and agree as follows:

SECTION 1. Definitions. Except as otherwise provided herein, and unless the context shall clearly require otherwise, all words and terms used in this TENTH Amendment that are defined in the Composite Lease Agreement, the Special Facility Ground Lease Agreement and the Special Facility Lease Agreement shall have the respective meanings given to them in each agreement for all purposes of this TENTH Amendment.

SECTION 2. Modification of Composite Lease and Applicable Rent. The parties amend the Composite Lease Agreement to reflect the addition of Parcel 33 as described in the attached survey and legal description and shown on “Legal Description”, “EXHIBIT B”, attached hereto and incorporated herein by reference. As of the Effective Date, the parties incorporate this Tenth Amendment EXHIBIT B to the Composite Lease Agreement, and the parties substitute the schedule attached to this Amendment for the schedule included as part of EXHIBIT A to the Composite Lease Agreement. The substitution of that schedule will accomplish the following:

(a) Effective on the Parcel 33 “Substantial Completion Date” (as defined in Section 4 below), the annual Composite Lease rent will be increased by an amount equal to the product achieved by multiplying the area of Parcel 33 as follows:

(b) The rent, as adjusted in accordance with the foregoing, will continue to be subject to adjustment in accordance with the terms of Section 2.03(a)(i) of the Composite Lease Agreement.

(c) The Golden Triangle Ramp Area contains 885,880 square feet, and Tenant’s leased area shall contain the entire 885,880 square feet.

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(d) In consideration of the cost of the improvements and construction by Tenant of the Taxiway Area (“Taxiway Area”), consisting of 186,915 square feet of the total 885,880 square feet shown in “Exhibit D”, attached hereto and incorporated herein by reference, Tenant shall pay no rent for the Taxiway Area until the expiration of the Composite Lease Agreement First Term, ending at midnight December 31, 2036.

(e) Should the parties agree to a Composite Lease Agreement Renewal Term, beginning January 1, 2037, Authority will initiate billing Tenant for the Taxiway Area at the then-applicable square-foot adjustment rate.

SECTION 3. Improvements by Tenant

(a) Effective May 1, 2018, Authority shall permit Tenant to have all necessary or appropriate rights of reasonable access, ingress and egress to and from Parcel 33 for Tenant and its servants, agents, employees and independent contractors to work on or in connection with Tenant’s alterations of the improvements located on Parcel 33 and make it suitable for aircraft parking use (“Tenant’s Work”), as well as do all such other things as may be incidental to Tenant’s Work.

(b) Tenant shall obtain, at Tenant’s sole expense, all certificates, permits and approvals relating to Tenant’s Work.

(c) Tenant’s Work on Parcel 33 shall be permitted to make all Leasehold improvements to Parcel 33 as specifically set forth in “EXHIBIT C” (“Leasehold Improvements”), as attached hereto and incorporated herein by reference, at no cost to Authority.

(d) As part of Tenant’s Work, Tenant shall remain in compliance with all applicable Environmental Laws and the requirements of Article VIII of the Composite Lease.

(e) Tenant’s Work shall include the relocation of an existing sanitary sewer line as shown in EXHIBIT C, and upon the conclusion of the relocation of the sanitary sewer line, the sewer line will remain the City of Memphis public sewer, as identified in the “Overall Sanitary Sewer Plan” in “Exhibit E”, attached hereto and incorporated herein by reference.

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(f) After completion of Tenant’s Work, Tenant shall continue to have maintenance responsibilities of all property, other than the Sanitary Sewer Line shown in Exhibit E, under this Agreement.

SECTION 4. Substantial Completion Date.

(a) Authority and Tenant agree that the Substantial Completion Date shall be defined as that date on which Tenant has commenced beneficial use of Parcel 33.

(b) Tenant’s Work and related activity during the period before the Substantial Completion Date shall not be considered the commencement of beneficial use of the premises by Tenant. However, the terms and conditions of the Composite Lease, including, without limitation, the commercial liability insurance provisions shall apply to and be effective during such period of occupancy or access to the premises by Tenant, except for Tenant’s obligation to pay rent as provided in Section 2.03 in the Composite Lease Agreement.

(c) Tenant’s obligation to pay rent for Parcel 33 will commence on the Tenant’s date of beneficial occupancy.

SECTION 5. Remainder of Composite Lease in Effect. All other terms, provisions, conditions, covenants and agreements of the Composite Lease shall continue in full force and effect.

SECTION 6. Effective Date of this Tenth Amendment. This TENTH Amendment shall become effective as of May 1, 2018.

The remainder of this page intentionally left blank.

Signature page to follow.

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IN WITNESS WHEREOF, the parties have caused their duly authorized representatives to execute this ELEVENTH Amendment to the Composite Lease Agreement.

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G:\AR\Leases\FedEx Lease info\FedEx Percent Increase FY2019 Lease Form with Golden Triangle

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Exhibit B

Legal Description

FEDEX GOLDEN TRIANGLE RAMP

LEASE PARCEL

Property Description

Being a 20.320 acre parcel of land contained entirely within the Memphis-Shelby County Airport Authority (MSCAA) property located in the City of Memphis, Shelby County, State of Tennessee. Said parcel is located on the west ramp, west of Taxiway November, north of Taxiway Victor and is bounded on the north and east by Federal Express Corporation Parcels 1 & 3 and being more particularly described by metes and bounds as follows:

Commencing at the centerline intersection of Taxiway November and Taxilane 800; thence along the existing centerline of Taxiway November South 04° 16’ 57” West, 81.06 feet to the north line of Federal Express Corporation Parcel 1, said point also being a south line of Federal Express Corporation Parcel 3; thence along said north line North 85° 44’ 10” West, 50.08 feet to the northwest corner of said Parcel 1, said point being the POINT OF BEGINNING; thence South 04° 16’ 22” West along the west line of said Parcel, 864.80 feet to a point; thence, continuing along the west line of said Parcel 1, South 04° 13’ 46” East, 111.10 feet to a point; thence South 03° 15’ 06” East, 402.85 feet to a point; thence South 88° 22’ 38” West, 40.74 feet to a point; thence North 02° 30’ 36” West, 19.44 feet to a point; thence North 16° 24’ 41” West, 86.25 feet to a point; thence North 70° 56’ 03” West, 112.51 feet to a point; thence North 83° 35’ 54” West, 305.68 feet to a point; thence North 85° 43’ 22” West, 517.59 feet to a point of curvature; thence along a curve to the right, having a radius of 127.31 feet, an arc length of 141.74 feet (chord = North 01° 27’ 34” East, 134.53 feet) to a point; thence South 85° 44’ 10” East, 0.50 feet to a point; thence North 30° 07’ 38” East, 312.89 feet to a point; thence North 37° 41’ 42” East, 82.46 feet to a point; thence North 39° 50’ 06” East, 214.62 feet to a point; thence North 31° 53’ 01” East, 451.96 feet to a point; thence North 30° 55’ 58” East, 143.17 feet to a point; thence North 33° 08’ 42” East, 99.45 feet to a point; thence South 85° 43’ 22” East, 188.43 feet to a point; thence North 04° 16’ 07” East, 188.06 feet to a point in a south line of Federal Express Corporation Parcel 3; thence, along said south line South 85° 45’ 10” East, 107.74 feet to a point; thence South 02° 37’ 19” West, 225.15 feet to a point; thence South 85° 44’ 10” East, 11.95 feet to the POINT OF BEGINNING and containing 20.320 acres.

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Exhibit B

Leased Premises/Unimproved Ground

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EXHIBIT C

LEASEHOLD IMPROVEMENTS

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Exhibit D

Taxiway Area

Striped Area consists of 186,915 square feet.

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Exhibit E

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