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AMENDMENT NUMBER 14 TO PURCHASE AGREEMENT GCT-025/98
This Amendment Number 14 to Purchase Agreement GCT-025/98, dated as of November
13, 2001 ("Amendment No. 14") relates to the Purchase Agreement GCT-025/98 (the
"Purchase Agreement") between EMBRAER - Empresa Brasileira de Aeronautica S.A.
("Embraer") and Solitair Corp. ("Buyer") dated June 17, 1998 as amended from
time to time (collectively referred to herein as "Agreement"). This Amendment
No. 14 is between Embraer and Buyer, collectively referred to herein as the
"Parties".
This Amendment No. 14 sets forth additional agreements between Embraer and Buyer
relative to the exercise of [*]
Except as otherwise provided for herein all terms of the Purchase Agreement
shall remain in full force and effect. All capitalized terms used in this
Amendment No. 14, which are not defined herein shall have the meaning given in
the Purchase Agreement. In the event of any conflict between this Amendment No.
14 and the Purchase Agreement the terms, conditions and provisions of this
Amendment No. 14 shall control.
WHEREAS, in connection with the Parties' agreements as described above, the
Parties have agreed to amend the Purchase Agreement as provided for below:
NOW, THEREFORE, for good and valuable consideration which is hereby
acknowledged Embraer and Buyer hereby agree as follows:
1. SUBJECT: Article 2.a shall be deleted and replaced with the following:
a. Embraer shall sell and Buyer shall purchase and take delivery of [*]
firm Aircraft ("Firm Aircraft"), and if Buyer so elects, up to [*] option
Aircraft ("Option Aircraft"), upon the terms and conditions of this
Agreement. Such Aircraft quantity distribution shall be as follows:
a.1 Firm Aircraft: [*] EMB-145 Aircraft and [*]
EMB-140 Aircraft (also referred to as Aircraft [*]);
a.2 Option Aircraft: [*] EMB-145 Aircraft (also referred to as
Aircraft [*]).
2. DELIVERY SCHEDULE: The delivery schedule contained in Article 5.a shall be
deleted and replaced with the following:
<Table>
<Caption>
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A/C # AIRCRAFT DELIVERY MONTH A/C # AIRCRAFT DELIVERY MONTH
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01 EMB-145 [*] 28 EMB-145 [*]
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02 EMB-145 [*] 29 EMB-145 [*]
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03 EMB-145 [*] 30 EMB-145 [*]
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04 EMB-145 [*] 31 EMB-145 [*]
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05 EMB-145 [*] 32 EMB-145 [*]
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06 EMB-145 [*] 33 EMB-145 [*]
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</Table>
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* Confidential
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<Table>
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07 EMB-145 Mar-00* 34 EMB-145 Sep-01*
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08 EMB-145 May-00* 35 EMB-145 Sep-01*
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09 EMB-145 Jun-00* 36 EMB-140 22-Oct-01
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10 EMB-145 Jul-00* 37 EMB-145 20 Dec-01
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11 EMB-145 Aug-00* 38 EMB-140 24 Oct-01
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12 EMB-145 Aug-00* 39 EMB-145 Oct-01*
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13 EMB-145 Sep-00* 40 EMB-140 26 Nov-01
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14 EMB-145 Oct-00* 41 EMB-145 14 Nov-01
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15 EMB-145 Nov-00* 42 EMB-140 29 Nov-01
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16 EMB-145 Nov-00* 43 EMB-140 10 Dec-01
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17 EMB-145 Dec-00* 44 EMB-140 14 Dec-01
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18 EMB-145 Dec-00* 45 EMB-140 19 Dec-01
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19 EMB-145 Jan-01* 46 EMB-140 27 Feb-02
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20 EMB-145 Jan-01* 47 EMB-140 20 Mar-02
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21 EMB-145 Jan-01* 48 EMB-140 29 Mar-02
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22 EMB-145 Feb-01* 49 EMB-140 20 May-02
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23 EMB-145 Mar-01* 50 EMB-140 20 Jun-02
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24 EMB-145 Apr-01* 51 EMB-140 10 Jul-02
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25 EMB-145 Apr-01* 52 EMB-140 19 Jul-02
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26 EMB-145 May-01* 53 EMB-140 20 Aug-02
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27 EMB-145 May-01*
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Remarks: * Delivered to Buyer as of the date hereof.
3. OPTION AIRCRAFT:
3.1 The first paragraph, delivery table, and second paragraph in Article
24 shall be deleted and replaced with the following:
Buyer shall have the option to purchase the Option Aircraft, to be
delivered in accordance with the chart below, subject to the terms and
conditions of this Article:
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OPTION AIRCRAFT
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A/C # AIRCRAFT DELIVERY MONTH A/C # AIRCRAFT DELIVERY MONTH
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01 EMB-145 Nov 02 11 EMB-145 Apr 03
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02 EMB-145 Nov 02 12 EMB-145 Apr 03
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03 EMB-145 Dec 02 13 EMB-145 May 03
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04 EMB-145 Dec 02 14 EMB-145 May 03
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05 EMB-145 Jan 03 15 EMB-145 Jun 03
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06 EMB-145 Jan 03 16 EMB-145 Jun 03
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07 EMB-145 Feb 03 17 EMB-145 Jul 03
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08 EMB-145 Feb 03 18 EMB-145 Jul 03
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09 EMB-145 Mar 03 19 EMB-145 Aug 03
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10 EMB-145 Mar 03 20 EMB-145 Aug 03
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3.2 Article 24.e shall be deleted and replaced with the following:
e. CONFIRMATION OF OPTION GROUPS: The Option Groups (of two Aircraft each)
shall be confirmed on or before the following dates:
First 4 Option Groups: [*]
Next 2 Option Groups: [*]
Next 2 Option Groups: [*]
Last 2 Option Groups: [*]
At the time of each such confirmation, the Initial Deposit with respect to
the Option Aircraft in such Option Group shall become non refundable. In
the event that Buyer fails to exercise its option with respect to any five
(5) Option Groups, Buyer shall lose its rights to said Option Groups, as
well as all remaining Option Groups.
4. MISCELLANEOUS: All other provisions of the Agreement which have not been
specifically amended or modified by this Amendment No. 14 shall remain
valid in full force and effect without any change.
[The remainder of this page has been left blank intentionally.]
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* Confidential
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IN WITNESS WHEREOF, EMBRAER and BUYER, by their duly authorized officers, have
entered into and executed this Amendment No. 14 to be effective as of the date
first written above.
EMBRAER - Empresa Brasileira de Aeronautica S.A. Solitair Corp.
By /s/ Frederico Fleury Curado By /s/ Douglas J. Lambert
Name: Frederico Fleury Curado Name: Douglas J. Lambert
Title: E.V.P. Airline Market Title: V. P.
By /s/ Flavio Rimoli Date: 12-12-01
Name: Flavio Rimoli Place: Greenwich, CT U.S.A.
Title: Director of Contracts
Date:
Place: