Supplemental Agreement No. 32 to Purchase Agreement No. 3157 between The Boeing Company And Federal Express Corporation Relating to Boeing Model 777-FREIGHTER Aircraft

Exhibit 10.10

INFORMATION IN THIS EXHIBIT IDENTIFIED BY BRACKETS IS CONFIDENTIAL AND HAS BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10)(IV) OF REGULATION S-K BECAUSE IT (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO FEDEX IF PUBLICLY DISCLOSED.

Supplemental Agreement No. 32

to

Purchase Agreement No. 3157

between

The Boeing Company

And

Federal Express Corporation

Relating to Boeing Model 777-FREIGHTER Aircraft

THIS SUPPLEMENTAL AGREEMENT No. 32 (SA-32), entered into as of February 28, 2020 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 and Boeing desire to reschedule the delivery month of two (2) Block E1 Aircraft, as shown in the table below (SA-32 Accelerated Block E1 Aircraft):

Aircraft Block

MSN

Table

Existing Delivery Month of Aircraft

Revised Delivery Month of Aircraft

E1

66257

1-E1

[*

]

[*

]

E1

66258

1-E1

[*

]

[*

]

C.         [*].

D.         [*].

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.

P.A. No. 3157 1 SA-32

BOEING PROPRIETARY

* Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.

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. 32.

2.        Boeing and Customer agree that upon execution of this Supplemental Agreement No. 32 the SA-32 Accelerated Block E1 Aircraft are hereby rescheduled as described in Recital Paragraph B above.

3.        Remove and replace, in its entirety, “Table 1-E1” Block E Firm Aircraft Information Table (Block E1), with the revised Table 1-E1, attached hereto, to reflect the revised delivery date month, [*], [*], and [*] resulting from the acceleration of the two (2) Block E1 Aircraft described in Recital Paragraph B above.

4.        Remove and replace, in its entirety, Letter Agreement 6-1169-LKJ-0778, SA-30 [*] Matters, with Letter Agreement 6-1169-LKJ-0778R1, SA-30 and SA-32 [*] Matters, attached hereto, to [*].

5.        Add new Letter Agreement FED-PA-3157-LA-2000906, [*] as related to SA-32 and SA-14, to the Purchase Agreement, to [*].

6.        This Supplemental Agreement No. 32 to the Purchase Agreement shall not be effective unless (i) executed and delivered by the parties on or prior to February 28, 2020, and (ii) Customer and Boeing execute and deliver Supplemental Agreement No. 14 to Purchase Agreement No. 3712 on or prior to February 28, 2020.

7.        References in the Purchase Agreement and any supplemental agreements and associated letter agreements to the tables, exhibits, supplemental exhibits and letter agreements listed in the left column of the below table shall be deemed to refer to the corresponding tables, exhibits, supplemental exhibits and letter agreements listed in the right column of the below table.

Reference		Replacement Reference
6-1169-LKJ-0778			6-1169-LKJ-0778R1

P.A. No. 3157 2 SA-32

BOEING PROPRIETARY

* Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.

EXECUTED as of the day and year first above written.

FEDERAL EXPRESS CORPORATION								THE BOEING COMPANY
By:		/s/ Xxxxx X. Xxxxxxxx				By:		/s/ Xxxxx Xxxx
Name:		Xxxxx X. Xxxxxxxx				Name:		Xxxxx Xxxx
Title:		Vice President				Title:		Attorney-In-Fact

P.A. No. 3157 3 SA-32

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)			32
		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-32

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			4
		Attachment to Letter 6-1162-RRO-1062			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 – Xxxxx X xxx Xxxxx X0 Xxxxxxxx			00
XXX-XX-XX-0000000X0		Special Matters for Block C Aircraft			20
FED-PA-LA-0000000X0		Special Matters for Block D Aircraft			19
6-1162-RRO-1144R7		[*] as related to XXx #0, #00 xxxxxxx #00, XX # 00 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-193R1		[*] Matters and [*] Special Matters			30

P.A. No. 3157 5 SA-32

BOEING PROPRIETARY

* Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.

LETTER AGREEMENT (Con’t)				SA NUMBER
6-1162-LKJ-0726		[*] SA-24 Accelerated Block B Aircraft		24
6-1162-LKJ-0737R1		Special Matters – XX-00 Xxxxxxxxxxx Xxxxx X Xxxxxxxx		00
0-0000-XXX-0000		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-0778R1		SA-30 and SA-32 [*] Matters		32
FED-PA-3157-LA-2000906		[*] as related to SA-32 and SA-14		32

P.A. No. 3157 6 SA-32

BOEING PROPRIETARY

* Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.

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-32

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 14, 2018
Supplemental Agreement No. 32		, 2020

P.A. No. 3157 8 SA-32

BOEING PROPRIETARY

The Boeing Company X.X. Xxx 0000 Xxxxxxx, XX 00000-0000

6-1169-LKJ-0778R1 FedEx contract #

Federal Express Corporation

0000 Xxxxxxxx Xxxx

Xxxxxxx, XX 00000

Subject: SA-30 and SA-32 [*] Matters

References: (a) Purchase Agreement No. 3157 between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to Model 777-FREIGHTER aircraft (the 777 Purchase Agreement)

(b) Purchase Agreement No. 3712 between Boeing and Customer relating to Model 767-3S2F aircraft (the 767 Purchase Agreement)

(c) Letter Agreement FED-PA-03712-LA-1106159R1, Special Matters Concerning [*]

All terms used but not defined in this Letter Agreement (Letter Agreement) shall have the same meaning as in the 767 Purchase Agreement and the 777 Purchase Agreement.

1.    As a result of SA-30 and SA-32 to the 777 Purchase Agreement, as well as SA-11 and SA-14 to the 767 Purchase Agreement, Customer will owe certain 777 Advance Payments or 767 Advance Payments during calendar years [*] in accordance with the advance payment schedules provided in the Table 1 of the 777 Purchase Agreement and 767 Purchase Agreement (Standard Advance Payment Schedule) and the reference (c) letter agreement. [*]

6-1169-LKJ-0778R1 SA-30 and SA-32 [*] Matters SA-32 Page 1

BOEING PROPRIETARY

* Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.

1.1    [*]

Table 1.1

Table in PA		Contracted Delivery Date		MSN+		[*]		[*]		[*]
						[*]		[*]		[*]
						[*]		[*]		[*]
						[*]		[*]		[*]
						[*]		[*]		[*]
						[*]		[*]
Table 1-A		[*]		40676		[*]		[*]		[*]
Table 1-A		[*]		40679		[*]		[*]		[*]
Table 1-E1		[*]		66256		[*]		[*]		[*]
Table 1-A		[*]		40673		[*]		[*]		[*]
Table 1-A		[*]		40676		[*]		[*]		[*]
Table 1-A		[*]		40679		[*]		[*]		[*]
						[*]		[*]
Table 1-A		[*]		40676		[*]		[*]		[*]
Table 1-A		[*]		40679		[*]		[*]		[*]
Table 1-E1		[*]		66259		[*]		[*]		[*]
Table 1-E1		[*]		66260		[*]		[*]		[*]
Table 1-E1		[*]		66259		[*]		[*]		[*]
						[*]		[*]
Table 1-E2		[*]		66264		[*]		[*]		[*]
Table 1-E1		[*]		66260		[*]		[*]		[*]
Table 1-E2		[*]		66262		[*]		[*]		[*]
Table 1-E2		[*]		66265		[*]		[*]		[*]
Table 1-E2		[*]		66263		[*]		[*]		[*]
Table 1-E1		[*]		66259		[*]		[*]		[*]
Table 1-E2		[*]		66264		[*]		[*]		[*]
Table 1-E1		[*]		66260		[*]		[*]		[*]
Table 1-E2		[*]		66262		[*]		[*]		[*]
Table 1-E2		[*]		66265		[*]		[*]		[*]
Table 1-E2		[*]		66263		[*]		[*]		[*]
Table 1-E2		[*]		66264		[*]		[*]		[*]
+ Manufacture Serial Number(s) (MSNs) identified are for informational purposes only and subject to change.						[*]		[*]
						[*]		[*]

6-1169-LKJ-0778R1 SA-30 and SA-32 [*] Matters SA-32 Page 2

BOEING PROPRIETARY

* Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.

1.2    [*]

Table 1.2

Table in PA		Contracted Delivery Date		MSN+		[*]		[*]		[*]
Table 1-E1		[*]		66256		[*]		[*]		[*]
Table 1-A		[*]		40676		[*]		[*]		[*]
Table 1-A		[*]		40679		[*]		[*]		[*]
Table 1-E1		[*]		66255		[*]		[*]		[*]
Table 1-E1		[*]		66256		[*]		[*]		[*]
Table 1-A		[*]		40673		[*]		[*]		[*]
						[*]		[*]

Table 1.3

Table in PA		Contracted Delivery Date		MSN+		[*]		[*]		[*]
Table 1-E1		[*]		66257		[*]		[*]		[*]
Table 1-E1		[*]		66258		[*]		[*]		[*]
Table 1-E1		[*]		66257		[*]		[*]		[*]
Table 1-E1		[*]		66258		[*]		[*]		[*]
						[*]		[*]
Table 1-E1		[*]		66257		[*]		[*]		[*]
Table 1-E1		[*]		66258		[*]		[*]		[*]
Table 1-E1		[*]		66257		[*]		[*]		[*]
Table 1-E1		[*]		66258		[*]		[*]		[*]
Table 1-E1		[*]		66257		[*]		[*]		[*]
Table 1-E1		[*]		66258		[*]		[*]		[*]
Table 1-E1		[*]		66257		[*]		[*]		[*]
Table 1-E1		[*]		66258		[*]		[*]		[*]
Table 1-E1		[*]		66257		[*]		[*]		[*]
Table 1-E1		[*]		66258		[*]		[*]		[*]
+ Manufacture Serial Number(s) (MSNs) identified are for informational purposes only and subject to change.						[*]		[*]
						[*]		[*]

6-1169-LKJ-0778R1 SA-30 and SA-32 [*] Matters SA-32 Page 3

BOEING PROPRIETARY

* Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.

2.    [*]

3.    [*] will be paid in accordance with the Standard Advance Payment Schedule and the reference (c) letter agreement. If the contractual obligations set forth in the 777 Purchase Agreement or 767 Purchase Agreement are revised prior to [*], Boeing and Customer will work in good faith to revise this Letter Agreement accordingly.

4.     CONFIDENTIAL TREATMENT.

Customer and Boeing consider certain commercial and financial information contained in this Letter Agreement as confidential. Each of Customer and Boeing agree that it will treat this Letter Agreement and the information contained herein as confidential. Customer agrees to limit the disclosure of the contents of this Letter Agreement to employees of Customer with a need to know and who understand that they are not to disclose its content to any other person or entity without the prior written consent of Boeing. Notwithstanding the foregoing, Boeing acknowledges that Customer may disclose this Letter Agreement and the terms and conditions herein to its parent company, FedEx Corporation, to the Board of Directors of its parent company, FedEx Corporation, and to Customer’s and FedEx Corporation’s professional advisors under a duty of confidentiality with respect thereto, and as required by law.

ACCEPTED AND AGREED TO this
Date:		February 28, 2020
FEDERAL EXPRESS CORPORATION								THE BOEING COMPANY
By:		/s/ Xxxxx X. Xxxxxxxx				By:		/s/ Xxxxx Xxxx
Name:		Xxxxx X. Xxxxxxxx				Name:		Xxxxx Xxxx
Title:		Vice President				Title:		Attorney-In-Fact

6-1169-LKJ-0778R1 SA-30 and SA-32 [*] Matters SA-32 Page 4

BOEING PROPRIETARY

* Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.

The Boeing Company X.X. Xxx 0000 Xxxxxxx, XX 00000-0000

FED-PA-3157-LA-2000906 FedEx contract #

Federal Express Corporation

0000 Xxxxxxxx Xxxx

Xxxxxxx, XX 00000

Subject: [*] as related to SA-32 and SA-14

References: (a) Purchase Agreement No. 3157 between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to Model 777-FREIGHTER aircraft (777 Purchase Agreement)

(b) Purchase Agreement No. 3712 between Boeing and Customer relating to Model 767-3S2F aircraft (767 Purchase Agreement)

(c) Letter Agreement FED-PA-03712-LA-1106159R1, Special Matters Concerning [*], associated with the 767 Purchase Agreement

(d) Letter Agreement No. 6-1169-LKJ-0778R1, SA-30 and SA-32 [*] Matters, associated with the 777 Purchase Agreement

This letter agreement (Letter Agreement) amends and supplements the 777 Purchase Agreement. All terms used but not defined in this Letter Agreement shall have the same meaning as in the 777 Purchase Agreement and the 767 Purchase Agreement.

1.    Background.

In consideration of the strong business relationship between Boeing and Customer and Customer executing Supplemental Agreement No. 32 to the 777 Purchase Agreement (SA-32) and Supplemental Agreement No. 14 to the 767 Purchase Agreement (SA-14), Boeing has agreed to [*].

2.     [*].

2.1    [*]

2.2    [*]

FED-PA-3157-LA-2000906 [*] as related to SA-32 and SA-14 SA-32 Page 1

BOEING PROPRIETARY

* Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.

ACCEPTED AND AGREED TO this
Date:		February 28, 2020
FEDERAL EXPRESS CORPORATION								THE BOEING COMPANY
By:		/s/ Xxxxx X. Xxxxxxxx				By:		/s/ Xxxxx Xxxx
Name:		Xxxxx X. Xxxxxxxx				Name:		Xxxxx Xxxx
Title:		Vice President				Title:		Attorney-In-Fact

Omitted Attachment

An attachment to this exhibit regarding delivery and pricing of certain B777F aircraft manufactured by The Boeing Company for FedEx has been omitted pursuant to Item 601(a)(5) of Regulation S-K because the information contained therein is not material and is not otherwise publicly disclosed. FedEx will furnish supplementally a copy of this attachment to the Securities and Exchange Commission or its staff upon request.

FED-PA-3157-LA-2000906 [*] as related to SA-32 and SA-14 SA-32 Page 2

BOEING PROPRIETARY

* Blank spaces contained confidential information that has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it (i) is not material and (ii) would likely cause competitive harm to FedEx if publicly disclosed.