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 10.24
Supplemental Agreement No. 2
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 December 21, 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. 2.
1.3 **Material Redacted**
2. Letter Agreement:
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 DATED AS OF:
---------------------------- -----------------
Supplemental Agreement No. 1 June 29, 2001
Supplemental Agreement No. 2 December 21, 2001
ii
TABLE 1 TO
PURCHASE AGREEMENT NO. 2191
AIRCRAFT DELIVERY, DESCRIPTION, PRICE AND ADVANCE PAYMENTS
Airframe Model/MTGW: 000-000 000,500 Detail Specifications: D6-38868-42-1 (11/25/1998)
Engine Model: CFM56-7B26 Price Base Year: Jul-97 ECI-MFG/CPI
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 (CPI): 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/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
*Jun-2002 1 1.1299 -$ 504,000 $ 44,801,000 $ 373,010 $1,792,040 $ 2,240,050 $ 13,440,300
**Jul-2002 1 1.1327 -$ 508,000 $ 44,908,000 $ 374,080 $1,796,320 $ 2,245,400 $ 13,472,400
Nov-2002 1 1.14 -$ 508,000 $ 45,197,000 $ 376,970 $1,807,880 $ 2,259,850 $ 13,559,100
Dec-2002 1 1.1425 -$ 512,000 $ 45,292,000 $ 377,920 $1,811,680 $ 2,264,600 $ 13,587,600
----------
* **Material Redacted**
** **Material Redacted**
TABLE 1 TO PURCHASE AGREEMENT - 1951
AIRCRAFT DELIVERIES AND DESCRIPTIONS
MODEL 737-800 AIRCRAFT
ESCALATION ADVANCE PAYMENT PER AIRCRAFT (AMTS. DUE/MOS. PRIOR TO DELIVERY)
ESCALATION ESCALATION ESTIMATE ADV ----------------------------------------------------------------
NUMBER OF FACTOR CREDIT PAYMENT BASE AT SIGNING (1) 24 MOS. 21/18/12/9/6 MOS. TOTAL
DELIVERY DATE AIRCRAFT (AIRCRAFT) MEMORANDUM PRICE PER A.P 1% 4% 5 30%
------------- --------- ---------- ---------- ------------- -------------- ---------- ----------------- -------------
Sep-2004 1 1.2987 -$882,000 $ 56,397,000 $ 563,970 $2,255,880 $2,819,850 $ 16,919,100
Nov-2004 1 1.3044 -$887,000 $ 56,644,000 $ 566,440 $2,265,760 $2,832,200 $ 16,993,200
Dec-2004 1 1.3073 -$887,000 $ 56,772,000 $ 567,720 $2,270,880 $2,838,600 $ 17,031,600
Mar-2005 1 1.3163 -$895,000 $ 57,161,000 $ 571,610 $2,286,440 $2,858,050 $ 17,148,300
Apr-2005 1 1.319 -$895,000 $ 57,280,000 $ 572,800 $2,291,200 $2,854,800 $ 17,184,000
Jan-2005 1 1.3256 -$900,000 $ 57,566,000 $ 575,660 $2,302,600 $2,878,300 $ 17,269,800
Aug-2005 1 1.334 -$909,000 $ 57,927,000 $ 579,270 $2,317,000 $2,896,350 $ 17,378,100
Oct-2005 1 1.3429 -$913,000 $ 58,316,000 $ 583,160 $2,332,640 $2,915,800 $ 17,494,800
Dec-2005 1 1.3525 -$917,000 $ 58,735,000 $ 587,350 $2,349,400 $2,936,750 $ 17,620,500
Jan-2007 1 1.4187 -$966,000 $ 61,606,000 $ 616,060 $2,464,240 $3,080,300 $ 18,481,800
Jul-2007 1 1.4224 -$966,000 $ 61,769,000 $ 617,690 $2,470,760 $3,088,450 $ 18,539,700
Aug-2007 1 1.4264 -$970,000 $ 61,942,000 $ 619,420 $2,477,680 $3,097,100 $ 18,582,600
Sep-2007 1 1.4305 -$975,000 $ 62,117,000 $ 621,170 $2,484,680 $3,105,850 $ 18,635,100
Oct-2007 1 1.4342 -$975,000 $ 62,281,000 $ 622,810 $2,491,240 $3,114,050 $ 18,684,380
Nov 2007 1 1.4381 -$979,000 $ 62,449,000 $ 624,490 $2,497,960 $3,122,450 $ 18,734,700
Dec-2007 1 1.4422 -$979,000 $ 62,629,000 $ 626,290 $2,505,160 $3,131,450 $ 18,788,700
Jan-2008 1 1.4461 -$984,000 $ 62,796,000 $ 627,960 $2,511,840 $3,139,800 $ 18,838,800
Feb-2008 1 1.4502 -$984,000 $ 62,977,000 $ 629,770 $2,519,000 $3,148,850 $ 18,893,100
Mar 2008 1 1.4541 -$988,000 $ 63,145,000 $ 631,450 $2,525,800 $3,157,250 $ 18,963,500
Apr-2008 1 1.4578 -$992,000 $ 63,384,000 $ 633,040 $2,532,160 $3,165,200 $ 18,991,200
