CERTAIN PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT
TO A REQUEST FOR CONFIDENTIAL TREATMENT
Exhibit 10.23
Supplemental Agreement No. 1
to
Purchase Agreement No. 2191
between
The Boeing Company
and
Copa Holdings, S.A., Inc.
Relating to Boeing Model 737 Aircraft
THIS SUPPLEMENTAL AGREEMENT, entered into as of ____________, 2001,
by and between THE BOEING COMPANY, a Delaware corporation with its principal
office in Seattle, Washington, (Boeing) and COPA HOLDINGS, S.A. , INC.;
WHEREAS, the parties hereto entered into Purchase Agreement No. 2191
dated November 25, 1998 (the Agreement), as amended and supplemented, relating
to Boeing Model 737-700 aircraft (the Aircraft); and
**Material Redacted**
WHEREAS, Boeing and Buyer have mutually agreed to amend the
Agreement to incorporate the effect of these and certain other changes;
NOW THEREFORE, in consideration of the mutual covenants herein
contained, the parties agree to amend the Agreement as follows:
1. Table of Contents, Tables and Exhibits:
1.1 Remove and replace, in its entirety, the "Table of Contents",
with the Table of Contents attached hereto, to reflect the changes made by this
Supplemental Agreement No. 1.
1.3 Remove and replace, in its entirety, Table 1 entitled, "Aircraft
Deliveries and Descriptions, Model 737-700 Aircraft", with revised Table 1
attached hereto, to reflect the delivery deceleration of one (1) 737-700
Aircraft from April 2002 to June 2002.
2. Letter Agreements:
The Agreement will be deemed to be supplemented to the extent herein provided as
of the date hereof and as so supplemented will continue in full force and
effect.
1
TABLE OF CONTENTS
SA
NUMBER
------
ARTICLES
1. Quantity, Model and Description
2. Delivery Schedule
3. Price
4. Payment
5. Miscellaneous
TABLE
1. Aircraft Information Table SA 1
EXHIBIT
A. Aircraft Configuration
B. Aircraft Delivery Requirements and Responsibilities
SUPPLEMENTAL EXHIBITS
BFE1. BFE Variables
CS1. Customer Support Variables
EE1. Engine Escalation/Engine Warranty and Patent Indemnity
SLP1. Service Life Policy Components
LETTER AGREEMENTS
2191-01 Demonstration Flight Waiver
2191-02 **Material Redacted**
2191-03 Seller Purchased Equipment
6-1162-XXX-0123 Performance Guarantees
6-1162-XXX-0124 Special Matters
i
6-1162-XXX-0155 **Material Redacted**
6-1162-XXX-0156 Year 2000 Ready Software, Hardware and Firmware
6-1162-XXX-0157 Miscellaneous Matters
SUPPLEMENTAL AGREEMENTS DATES AS OF:
----------------------------- ------------
Supplemental Agreements No. 1 June, 2001
ii
TABLE 1 TO
PURCHASE AGREEMENT NO. 2191
AIRCRAFT DELIVERY, DESCRIPTION, PRICE AND ADVANCE PAYMENTS
Airframe Model/MTGW: 000-000 000,500 Detail Specification: D6-38868-42-1 (11/25/1998)
Engine Model: CFM56-7B26 Price Base Year: Jul-97
Airframe Price $ 36,374,000
Optional Features: $ 3,279,619 Airframe and Engine
------------
Escalation Data:
Sub-Total of Airframe and Features: $ 39,653,619 Base Year Index (ECI): 137.30
Engine Price (Per Aircraft): $ 0 Base Year Index (ICI): 129.50
Aircraft Basic Price (Excluding BFE/SPE): $ 39,653,619
============
Buyer Furnished Equipment (BFE) Estimate: $ 2,750,000
Seller Purchased Equipment (SPE) Estimate: $ 400,000
Refundable Deposit per Aircraft at Proposal Acceptance: $ 75,000
ESCALATION ADVANCE PAYMENT PER AIRCRAFT (AMTS. DUE/MOS. PRIOR TO DELIVERY):
NUMBER ESCALATION ESCALATION ESTIMATE ADV ----------------------------------------------------------------
OF FACTOR CREDIT PAYMENT BASE AT SIGNING 24 MOS. 21/18/12/9/6/ MOS TOTAL
DELIVERY DATE AIRCRAFT (AIRFRAME) MEMORANDUM PRICE PER A/P 1% 4% 5% 30%
------------- -------- ---------- ----------- ------------- ---------- ---------- ----------------- -------------
Jan-2000 1 1.0514 -$468,000 $ 41,674,000 $ 341,740 $1,666,960 $ 2,083,700 $ 12,502,200
Feb-2000 1 1.0541 -$472,000 $ 41,777,000 $ 342,770 $1,671,080 $ 2,088,850 $ 12,533,100
May-2000 2 1.0696 -$476,000 $ 42,388,000 $ 348,880 $1,695,520 $ 2,119,400 $ 12,716,400
May-2002 1 1.1299 -$504,000 $ 44,801,000 $ 373,010 $1,792,040 $ 2,240,050 $ 13,440,300
Jun-2002 1 1.1327 -$508,000 $ 44,908,000 $ 374,080 $1,796,320 $ 2,245,400 $ 13,472,400
Sep-2002 1 1.14 -$508,000 $ 45,197,000 $ 376,970 $1,807,880 $ 2,259,850 $ 13,559,100
Oct-2002 1 1.1425 -$512,000 $ 45,292,000 $ 377,920 $1,811,680 $ 2,264,600 $ 13,587,600
