Exhibit 10.40

FedEx Contract #12-0527-022

Supplemental Agreement No. 10

to

Purchase Agreement No. 3712

between

The Boeing Company

And

Federal Express Corporation

Relating to Boeing Model 767-3S2F Aircraft

THIS SUPPLEMENTAL AGREEMENT, entered into as of May 10, 2017 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 Purchase Agreement No. 3712, dated December 14, 2011 (Purchase Agreement), relating to the purchase and sale of certain Boeing Model 767-3S2F Aircraft (the Aircraft); and

B. WHEREAS, Customer desires to reschedule the delivery month of four (4) Aircraft as set forth in the table below (SA-10 Accelerated Aircraft); and

Current Delivery Month & Year	Revised Delivery Month & Year	Block	Table Reference	MSN
[*]	[*]	Block C	Table 1-B	43551
[*]	[*]	Block E	Table 1-A2	63094
[*]	[*]	Original Block	Table 1-A	42728
[*]	[*]	Block C	Table 1-A1	62498

C. WHEREAS, Boeing has agreed to provide additional business considerations in consideration of the acceleration of the SA-10 Accelerated Aircraft.

NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties hereto agree to supplement the Purchase Agreement as follows:

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

BOEING PROPRIETARY

S10-1

Supplemental Agreement No. 10 to

Purchase Agreement No. 3712

All terms used herein and in the Purchase Agreement, and not defined herein, shall have the same meaning as in the Purchase Agreement.

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. 10.

2. Boeing and Customer acknowledge and agree that upon execution of this Supplemental Agreement No. 10 the four (4) Aircraft described in Recital Paragraph B above are hereby rescheduled as described herein.

3. Revise and replace in its entirety, Table 1-A with a revised Table 1-A, attached hereto, to reschedule the delivery month of one (1) Aircraft as identified in Recital Paragraph B above.

4. Revise and replace in its entirety, Table 1-A1 with a revised Table 1-A1, attached hereto, to reschedule the delivery month of one (1) Aircraft as identified in Recital Paragraph B above.

5. Revise and replace in its entirety, Table 1-A2 with a revised Table 1-A2, attached hereto, to reschedule the delivery month of one (1) Aircraft as identified in Recital Paragraph B above.

6. Revise and replace in its entirety, Table 1-B with a revised Table 1-B, attached hereto, to reschedule the delivery month of one (1) Aircraft as identified in Recital Paragraph B above.

7. Revise and replace in its entirety Attachment 4 to Letter Agreement FED-PA-03712-LA-1106156R2, Option Aircraft, attached hereto, to reflect the reschedule of the four (4) Aircraft described in Recital Paragraph B above.

8. Add Letter Agreement 6-1162-LKJ-0744, Special Considerations – SA-10 Accelerated Aircraft, attached hereto, to reflect additional business considerations to be provided in consideration of the acceleration of the SA-10 Accelerated Aircraft.

9. Boeing acknowledges that as a result of the reschedule of the four (4) Aircraft described in Recital Paragraph B above Customer will have [*] applicable to each such Aircraft. Boeing will [*].

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

BOEING PROPRIETARY

S10-2

Supplemental Agreement No. 10 to

Purchase Agreement No. 3712

10. This Supplemental Agreement No. 10 to the Purchase Agreement shall not be effective until executed and delivered by the parties on or prior to May 11, 2017.

BOEING PROPRIETARY

S10-3

Supplemental Agreement No. 10 to

Purchase Agreement No. 3712

EXECUTED as of the day and year first above written.

THE BOEING COMPANY
By:	/s/ L. Kirsten Jensen
Its:	Attorney-In-Fact
FEDERAL EXPRESS CORPORATION
By:	/s/ Phillip C. Blum
Its:	Vice President Aircraft Acquisition

BOEING PROPRIETARY

S10-4

TABLE OF CONTENTS

ARTICLES		SA Number
1	Quantity, Model and Description
2	Delivery Schedule
3	Price
4	Payment
5	Additional Terms
TABLES
1-A	Firm Aircraft Information Table		10
1-A1	Block C Aircraft Information Table		10
1-A2	Block E, Block F and Block G Aircraft Information Table		10
1-B	Exercised Option Aircraft Information Table		10
1-B1	Exercised Block D Option Aircraft Information Table		2
1-C	Exercised Purchase Right Aircraft Information Table		2
EXHIBIT
A	Aircraft Configuration		4
B	Aircraft Delivery Requirements and Responsibilities
SUPPLEMENTAL EXHIBITS
AE1	Escalation Adjustment/Airframe and Optional Features
BFE1	BFE Variables		2
CS1	Customer Support Variables
EE1	Engine Escalation, Engine Warranty and Patent Indemnity
SLP1	Service Life Policy Components

FED-PA-03712		SA-10
	BOEING PROPRIETARY

LETTER AGREEMENTS		SA Number
LA-1106151R2	LA-Special Matters Concerning [*] – Option
	Aircraft and Certain Purchase Right Aircraft		6
LA-1106152	LA-Special Matters Concerning [*] – Firm Aircraft
LA-1106153	LA-Liquidated Damages Non-Excusable Delay
LA-1106154R2	LA-Firm Aircraft and Option Aircraft Delivery Matters		6
LA-1106155	LA-Open Configuration Matters
LA-1106156R2	LA-Option Aircraft		6
	Attachment 1 to LA-1106156R2		8
	Attachment 2 to LA-1106156R2		6
	Attachment 3 to LA-1106156R2		8
	Attachment 4 to LA-1106156R2		10
LA-1106157	AGTA Amended Articles
LA-1106158R3	LA-Right to Purchase Additional Aircraft		8
LA-1106159R1	LA-Special Matters Concerning [*]		1
LA-1106160	LA-Spare Parts Initial Provisioning
LA-1106163	LA-Demonstration Flight Waiver
LA-1106177R1	LA-[*]		6
LA-1106207R1	LA-Special Matters Firm Aircraft		1
LA-1106208R1	LA-Special Matters Option Aircraft		1
LA-1106574R1	LA-Agreement for Deviation from the [*]		6
LA-1106584R4	LA-Aircraft Performance Guarantees		6
LA-1106586	LA-Miscellaneous Matters
LA-1106614R2	LA-Special Matters for Purchase Right Aircraft		8
LA-1106824	LA-Customer Support Matters
LA-1208292R2	LA-Special Matters Concerning Escalation – Block B, Block C, Block E, Block F and Block G Aircraft		6
LA-1208296R1	LA-Special Matters for Block D Option Aircraft		6
LA-1208949	LA-Special Matters Block C Aircraft in Table 1-A1		1
6-1162-SCR-146R1	LA Special Provision – Block B and Block G Aircraft		6
LA-1306854R1	Performance Guarantees, Demonstrated Compliance		6
6-1162-LKJ-0696R6	LA-[*]		6
6-1162-LKJ-0705	LA-Special Matters for Block E, Block F and Block G Aircraft in Table 1-A2
6-1162-LKJ-0707	LA- Agreement Regarding [*]		6

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

FED-PA-03712		SA-10
	BOEING PROPRIETARY

6-1162-LKJ-0709	[*] Special Matters	6
6-1162-LKJ-0728	Special Matters – SA-8 Early Exercise Aircraft	8
6-1162-LKJ-0744	Special Considerations – SA-10 Accelerated Aircraft	10

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

FED-PA-03712		SA-10
	BOEING PROPRIETARY

SUPPLEMENTAL AGREEMENTS	DATED AS OF:
Supplemental Agreement No. 1	June 29, 2012
Supplemental Agreement No. 2	October 8, 2012
Supplemental Agreement No. 3	December 11, 2012
Supplemental Agreement No. 4	December 10, 2013
Supplemental Agreement No. 5	September 29, 2014
Supplemental Agreement No. 6	July 21, 2015
Supplemental Agreement No. 7	April 18, 2016
Supplemental Agreement No. 8	June 10, 2016
Supplemental Agreement No. 9	February 16, 2017
Supplemental Agreement No. 10	May 10, 2017

FED-PA-03712		SA-10
	BOEING PROPRIETARY

Table 1-A To

Purchase Agreement No. 3712

Aircraft Delivery, Description, Price and Advance Payments

Firm Aircraft

Airframe Model/MTOW:	767-300F	408000 pounds
Engine Model/Thrust:	CF6-80C2B6F	60200 pounds
Airframe Price:		[*]
Optional Features:		[*]
Sub-Total of Airframe and Features:		[*]
Engine Price (Per Aircraft):		[*]
Aircraft Basic Price (Excluding BFE/SPE):		[*]
Buyer Furnished Equipment (BFE) Estimate:		[*]
Seller Purchased Equipment (SPE) Estimate:		[*]
Deposit per Aircraft:		[*]

Detail Specification: D019T002 Rev. K Dated April 30, 2011
Airframe Price Base Year/Escalation Formula:	[*]	ECI-MFG/CPI
Engine Price Base Year/Escalation Formula:	[*]	GE CF6-80 & GE90 (99 rev.)
Airframe Escalation Data:
Base Year Index (ECI):	[*]
Base Year Index (CPI):	[*]
Engine Escalation Data:
Base Year Index (CPI):	[*]

Escalation

Escalation

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery Date

Number of Aircraft

Factor (Airframe)

Factor (Engine)

Adv Payment Base Price Per A/P

At Signing 1%

24 Mos. 4%

21/18/12/9/6 Mos. 5%

Total 30%

[*]

1

[*]

[*]

See Note 1

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

		Supplemental Agreement No. 10
FED-PA-03712 57361, 87793, 101161, 105238	Boeing Proprietary	Page 1

Table 1-A To

Purchase Agreement No. 3712

Aircraft Delivery, Description, Price and Advance Payments

Firm Aircraft

Escalation

Escalation

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery Date

Number of Aircraft

Factor (Airframe)

Factor (Engine)

Adv Payment Base Price Per A/P

At Signing 1%

24 Mos. 4%

21/18/12/9/6 Mos. 5%

Total 30%

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

[*

]

[*

]

[*

]

[*

]

[*

]

Total:

27

Note:	1. Notwithstanding the delivery date of [*] shown in this Table, the Aircraft is rescheduled to deliver in [*] upon execution of SA 1 to PA 3712. The parties acknowledge the [*] will be based on a [*].
	The parties acknowledge the [*] will be based on an [*].

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

		Supplemental Agreement No. 10
FED-PA-03712 57361, 87793, 101161, 105238	Boeing Proprietary	Page 2

Table 1-A1 to PA 3712

Aircraft Delivery, Description, Price and Advance Payments

Block C Aircraft

Airframe Model/MTOW:	767-300F	408000 pounds
Engine Model/Thrust:	CF6-80C2B6F	60200 pounds
Airframe Price:		[*]
Optional Features:		[*]
Sub-Total of Airframe and Features:		[*]
Engine Price (Per Aircraft):		[*]
Aircraft Basic Price (Excluding BFE/SPE):		[*]
Buyer Furnished Equipment (BFE) Estimate:		[*]
Seller Purchased Equipment (SPE) Estimate:		[*]
Deposit per Aircraft:		[*]

Detail Specification: D019T002-K dated April 30, 2011
Airframe Price Base Year/Escalation Formula:	[*]	ECI-MFG/CPI
Engine Price Base Year/Escalation Formula:	[*]	GE CF6-80 & GE90 (99 rev.)
Airframe Escalation Data:
Base Year Index (ECI):	[*]
Base Year Index (CPI):	[*]
Engine Escalation Data:
Base Year Index (CPI):	[*]

Escalation

Escalation

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery Date

Number of Aircraft

Factor (Airframe)

Factor (Engine)

MSN

Adv Payment Base Price Per A/P

At Signing 1%

24 Mos. 4%

21/18/12/9/6 Mos. 5%

Total 30%

[*]

1

[*]

[*]

43544

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

44377

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

44378

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

43542

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

43543

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

44379

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

44380

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

43545

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

43546

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

43547

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

43548

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

42721

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

42722

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

61206

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

43538

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

[

*]

[

*]

[

*]

[

*]

[

*]

Total:

19

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

		Supplemental Agreement No. 10
FED-PA-03712 62134, 87796, 105239.TXT	Boeing Proprietary

Table 1-A2 To

Purchase Agreement No. 3712

Aircraft Delivery, Description, Price and Advance Payments

Block E, Block F and Block G Aircraft

Airframe Model/MTOW:	767-300F	408,000 pounds
Engine Model/Thrust:	CF6-80C2B6F	60,200 pounds
Airframe Price:		[*]
Optional Features:		[*]
Sub-Total of Airframe and Features:		[*]
Engine Price (Per Aircraft):		[*]
Aircraft Basic Price (Excluding BFE/SPE):		[*]
Buyer Furnished Equipment (BFE) Estimate:		[*]
Seller Purchased Equipment (SPE):		[*]
Deposit per Aircraft:		[*]

Detail Specification: D019T002FED63F-1, Rev D dated March 26, 2015
Airframe Price Base Year/Escalation Formula:	[*]	ECI-MFG/CPI
Engine Price Base Year/Escalation Formula:	[*]	GE CF6-80 & GE90 (99 rev.)
Airframe Escalation Data:
Base Year Index (ECI):	[*]
Base Year Index (CPI):	[*]
Engine Escalation Data:
Base Year Index (CPI):	[*]

Escalation

Escalation

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery Date

Number of Aircraft

Factor (Airframe)

Factor (Engine)

Block

Adv Payment Base Price Per A/P

At Signing 1%

24 Mos. 4%

21/18/12/9/6 Mos. 5%

Total 30%

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

* Blank spaces contained information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

		SA-10
FED-PA-03712 73706, 105237-1F.TXT	Boeing Proprietary	Page 1

Table 1-A2 To

Purchase Agreement No. 3712

Aircraft Delivery, Description, Price and Advance Payments

Block E, Block F and Block G Aircraft

Escalation

Escalation

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery Date

Number of Aircraft

Factor (Airframe)

Factor (Engine)

Block

Adv Payment Base Price Per A/P

At Signing 1%

24 Mos. 4%

21/18/12/9/6 Mos. 5%

Total 30%

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block E

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block F

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block F

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block F

[*

]

[*

]

[*

]

[*

]

[*

]

* Blank spaces contained information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

		SA-10
FED-PA-03712 73706, 105237-1F.TXT	Boeing Proprietary	Page 2

Table 1-A2 To

Purchase Agreement No. 3712

Aircraft Delivery, Description, Price and Advance Payments

Block E, Block F and Block G Aircraft

Escalation

Escalation

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery Date

Number of Aircraft

Factor (Airframe)

Factor (Engine)

Block

Adv Payment Base Price Per A/P

At Signing 1%

24 Mos. 4%

21/18/12/9/6 Mos. 5%

Total 30%

[*]

1

[*]

[*]

Block F

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block F

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block F

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block F

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block F

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block F

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block F

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block F

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block G

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block G

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block G

[*

]

[*

]

[*

]

[*

]

[*

]

[*]

1

[*]

[*]

Block G

[*

]

[*

]

[*

]

[*

]

[*

]

Total:

50

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

		SA-10
FED-PA-03712 73706, 105237-1F.TXT	Boeing Proprietary	Page 3

Table 1-B To

Purchase Agreement No. 3712

Aircraft Delivery, Description, Price and Advance Payments

Exercised Option Aircraft

Airframe Model/MTOW:	767-300F	40,8000 pounds
Engine Model/Thrust:	CF6-80C2B6F	60,200 pounds
Airframe Price:		[*]
Optional Features:		[*]
Sub-Total of Airframe and Features:		[*]
Engine Price (Per Aircraft):		[*]
Aircraft Basic Price (Excluding BFE/SPE):		[*]
Buyer Furnished Equipment (BFE) Estimate:		[*]
Seller Purchased Equipment (SPE) Estimate:		[*]
Deposit per Aircraft:		[*]

Detail Specification: D019T002FED63F-1, Rev D dated March 26, 2015
Airframe Price Base Year/Escalation Formula:	[*]	ECI-MFG/CPI
Engine Price Base Year/Escalation Formula:	[*]	GE CF6-80 & GE90 (99 rev.)
Airframe Escalation Data:
Base Year Index (ECI):	[*]
Base Year Index (CPI):	[*]
Engine Escalation Data:
Base Year Index (CPI):	[*]

Escalation

Escalation

Escalation Estimate

Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

Delivery Date

Number of Aircraft

Factor (Airframe)

Factor (Engine)

Block

MSN

Adv Payment Base Price Per A/P

At Signing 1%

24 Mos. 4%

21/18/12/9/6 Mos. 5%

Total 30%

[*]

1

[*]

[*]

Block C

61205

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block C

43549

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block C

43551

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block B #

43630

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block C

43552

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block B #

43631

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block B #

43632

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block C

43553

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block C

43554

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block B #

43633

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block C

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block C

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block C

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block C

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block C

[

*]

[

*]

[

*]

[

*]

[

*]

[*]

1

[*]

[*]

Block C

[

*]

[

*]

[

*]

[

*]

[

*]

16

# The Determination Date has passed and the special provision pursuant to Letter Agreement 6-1162-SCR-146R1, Special Provision-Block B and Block G Aircraft, has expired.

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

		Supplemental Agreement No. 10
FED-PA-03712 57361, 87796, 105239	Boeing Proprietary	Page 1

Attachment 4 to

Letter Agreement No. FED-PA-03712-LA-1106156R2

Firm Aircraft and Option Aircraft Delivery Schedule

[*]

Notes:

(i) FY: FED Customer Fiscal Year June 1-May 31

(ii) Customer has the right to purchase forty-four (44) Purchase Right Aircraft for delivery through [*]

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

FED-PA-03712-LA-1106156R2	SA-10
Option Aircraft, Attachment 4, Revised May 2017	Page 1

BOEING PROPRIETARY

The Boeing Company P.O. Box 3707 Seattle, WA 98124-2207

6-1162-LKJ-0744

Federal Express Corporation

3610 Hacks Cross Road

Memphis, TN 38125

Subject:	Special Considerations – SA-10 Accelerated Aircraft
Reference:	(a) Purchase Agreement No. PA-3712 (Purchase Agreement) between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to Model 767-3S2F aircraft (Aircraft)
	(b) Letter Agreement FED-PA-03712-LA-1106177R1, [*]

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

1. Background.

Supplemental Agreement No. 10 to the Purchase Agreement provides for the acceleration of four (4) SA-10 Accelerated Aircraft with resulting revised delivery months as set forth below.

Revised Delivery Month & Year	Block	Table Reference	MSN
[*]	Block C	Table 1-B	43551
[*]	Block E	Table 1-A2	63094
[*]	Original Block	Table 1-A	42728
[*]	Block C	Table 1-A1	62498

In consideration of Customer’s acceleration of the SA-10 Accelerated Aircraft Boeing will provide to Customer the following business considerations.

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

6-1162-LKJ-0744	SA-10
Special Considerations – SA-10 Accelerated Aircraft	Page 1

BOEING PROPRIETARY

2. [*]

[*]

3. [*]

[*]

4. Confidential Treatment.

Customer understands that Boeing considers 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, 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 corporation, FedEx Corporation, to

* Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

6-1162-LKJ-0744	SA-10
Special Considerations – SA-10 Accelerated Aircraft	Page 2

BOEING PROPRIETARY

its professional advisors under a duty of confidentiality with respect thereto, and as required by law.

Very truly yours,
THE BOEING COMPANY
By	/s/ L. Kirsten Jensen
Its	Attorney-In-Fact
ACCEPTED AND AGREED TO this
Date:	May 10, 2017
FEDERAL EXPRESS CORPORATION
By	/s/ Phillip C. Blum
Its	Vice President

6-1162-LKJ-0744	SA-10
Special Considerations – SA-10 Accelerated Aircraft	Page 3

BOEING PROPRIETARY