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
                 
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
                 
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