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Spirit AeroSystems Holdings, Inc. – ‘10-Q’ for 6/27/19 – ‘EX-10.3’

On:  Wednesday, 7/31/19, at 4:04pm ET   ·   For:  6/27/19   ·   Accession #:  1628280-19-9397   ·   File #:  1-33160

Previous ‘10-Q’:  ‘10-Q’ on 5/1/19 for 3/28/19   ·   Next:  ‘10-Q’ on 10/31/19 for 9/26/19   ·   Latest:  ‘10-Q’ on 5/7/24 for 3/28/24   ·   4 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 7/31/19  Spirit AeroSystems Holdings, Inc. 10-Q        6/27/19   95:15M                                    Workiva Inc Wde… FA01/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.64M 
 2: EX-10.1     Material Contract                                   HTML     46K 
 3: EX-10.2     Material Contract                                   HTML     38K 
 4: EX-10.3     Material Contract                                   HTML     48K 
 5: EX-10.4     Material Contract                                   HTML     32K 
 6: EX-10.5     Material Contract                                   HTML    309K 
 7: EX-10.6     Material Contract                                   HTML     23K 
 8: EX-10.7     Material Contract                                   HTML     44K 
 9: EX-31.1     Certification -- §302 - SOA'02                      HTML     30K 
10: EX-31.2     Certification -- §302 - SOA'02                      HTML     30K 
11: EX-32.1     Certification -- §906 - SOA'02                      HTML     26K 
12: EX-32.2     Certification -- §906 - SOA'02                      HTML     26K 
19: R1          Document and Entity Information                     HTML     78K 
20: R2          Consolidated Statements of Operations (Unaudited)   HTML     78K 
21: R3          Consolidated Statements of Comprehensive Income     HTML     45K 
                (Unaudited)                                                      
22: R4          Consolidated Statements of Comprehensive Income     HTML     30K 
                (Unaudited) (Parentheticals)                                     
23: R5          Consolidated Balance Sheets (Unaudited)             HTML    157K 
24: R6          Consolidated Balance Sheets (Unaudited)             HTML     46K 
                (Parenthetical)                                                  
25: R7          Consolidated Statements of Cash Flows (Unaudited)   HTML    160K 
26: R8          Condensed Statement of Changes in Stockholders'     HTML    177K 
                Equity Statement                                                 
27: R9          Organization and Basis of Interim Presentation      HTML     33K 
28: R10         Changes in Estimates                                HTML     77K 
29: R11         Accounts Receivable, net                            HTML     41K 
30: R12         Contract with customer, asset and liability         HTML     51K 
                (Notes)                                                          
31: R13         Revenue (Notes)                                     HTML     86K 
32: R14         Inventory                                           HTML     41K 
33: R15         Property, Plant and Equipment                       HTML     46K 
34: R16         Leases (Notes)                                      HTML     68K 
35: R17         Other Assets                                        HTML     54K 
36: R18         Advance Payments and Deferred Revenue/Credits       HTML     29K 
37: R19         Fair Value Measurements                             HTML     58K 
38: R20         Derivative and Hedging Activities                   HTML     35K 
39: R21         Debt                                                HTML     63K 
40: R22         Pension and Other Post-Retirement Benefits          HTML     75K 
41: R23         Stock Compensation                                  HTML     31K 
42: R24         Income Taxes (Notes)                                HTML     32K 
43: R25         Equity                                              HTML    114K 
44: R26         Commitments, Contingencies and Guarantees           HTML     48K 
45: R27         Other Income (Expense), Net                         HTML     59K 
46: R28         Segment Information                                 HTML     85K 
47: R29         Acquisition (Notes)                                 HTML     29K 
48: R30         Condensed Consolidating Financial Information       HTML    700K 
49: R31         New Accounting Pronouncements (Policies)            HTML     29K 
50: R32         Leases (Policies)                                   HTML     30K 
51: R33         Changes in Estimates Changes in Estimates (Tables)  HTML     78K 
52: R34         Accounts Receivable, net (Tables)                   HTML     34K 
53: R35         Revenue (Tables)                                    HTML     44K 
54: R36         Inventory (Tables)                                  HTML     28K 
55: R37         Property, Plant and Equipment (Tables)              HTML     42K 
56: R38         Other Assets (Tables)                               HTML     53K 
57: R39         Fair Value Measurements (Tables)                    HTML     56K 
58: R40         Debt (Tables)                                       HTML     48K 
59: R41         Pension and Other Post-Retirement Benefits          HTML     74K 
                (Tables)                                                         
60: R42         Equity (Tables)                                     HTML    112K 
61: R43         Commitments, Contingencies and Guarantees (Tables)  HTML     33K 
62: R44         Other Income (Expense), Net (Tables)                HTML     57K 
63: R45         Segment Information (Tables)                        HTML     78K 
64: R46         Condensed Consolidating Financial Information       HTML    752K 
                (Tables)                                                         
65: R47         Adoption of New Standard (Details)                  HTML     30K 
66: R48         Changes in Estimates (Details)                      HTML     50K 
67: R49         Accounts Receivable, net (Details)                  HTML     42K 
68: R50         Contract with customer, asset and liability         HTML    104K 
                (Details)                                                        
69: R51         Revenue (Details)                                   HTML    102K 
70: R52         Inventory (Details)                                 HTML     41K 
71: R53         Inventory (Details 1)                               HTML     32K 
72: R54         Inventory (Details 2)                               HTML     30K 
73: R55         Property, Plant and Equipment (Details)             HTML     47K 
74: R56         Property, Plant and Equipment (Details Textual)     HTML     30K 
75: R57         Leases (Details)                                    HTML    123K 
76: R58         Other Assets (Details)                              HTML     62K 
77: R59         Advance Payments and Deferred Revenue/Credits       HTML     26K 
                (Details)                                                        
78: R60         Fair Value Measurements (Details)                   HTML     56K 
79: R61         Derivative and Hedging Activities (Details)         HTML     27K 
80: R62         Derivative and Hedging Activities (Details 1)       HTML     29K 
81: R63         Derivative and Hedging Activities (Details          HTML     35K 
                Textual)                                                         
82: R64         Debt (Details)                                      HTML     66K 
83: R65         Debt (Details Textual)                              HTML     93K 
84: R66         Pension and Other Post Retirement Benefits          HTML     57K 
                (Details)                                                        
85: R67         Stock Compensation (Details)                        HTML     52K 
86: R68         Income Taxes (Details)                              HTML     30K 
87: R69         Equity (Details)                                    HTML    100K 
88: R70         Commitments, Contingencies and Guarantees           HTML     48K 
                (Details)                                                        
89: R71         Other Income (Expense), Net (Details)               HTML     47K 
90: R72         Segment Information (Details)                       HTML     62K 
91: R73         Condensed Consolidating Financial Information       HTML    383K 
                (Details)                                                        
93: XML         IDEA XML File -- Filing Summary                      XML    162K 
18: XML         XBRL Instance -- spr20190627-10q_htm                 XML   4.08M 
92: EXCEL       IDEA Workbook of Financial Reports                  XLSX     99K 
14: EX-101.CAL  XBRL Calculations -- spr-20190627_cal                XML    298K 
15: EX-101.DEF  XBRL Definitions -- spr-20190627_def                 XML   1.02M 
16: EX-101.LAB  XBRL Labels -- spr-20190627_lab                      XML   2.58M 
17: EX-101.PRE  XBRL Presentations -- spr-20190627_pre               XML   1.52M 
13: EX-101.SCH  XBRL Schema -- spr-20190627                          XSD    307K 
94: JSON        XBRL Instance as JSON Data -- MetaLinks              484±   708K 
95: ZIP         XBRL Zipped Folder -- 0001628280-19-009397-xbrl      Zip    448K

‘EX-10.3’   —   Material Contract

This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]

 <!   C:   C: 
  Exhibit  
EXHIBIT 10.3


CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (i) NOT MATERIAL AND (ii) WOULD BE LIKELY TO CAUSE COMPETITITVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED. SUCH EXCLUDED INFORMATION IS DENOTED BY ASTERISKS IN BRACKETS [*****].

AMENDMENT NUMBER 29

TO

Special Business Provisions (SBP) BCA-MS-65530-0019

BETWEEN

THE BOEING COMPANY

AND

SPIRIT AEROSYSTEMS, INC.

THIS AMENDMENT NUMBER 29 (“Amendment No. 29”) to Special Business Provisions BCA-MS-65530-0019 is made as of the last date executed below (the “Effective Date”) by and between Spirit AeroSystems, Inc., a Delaware corporation having its principal office in Wichita, Kansas (“Spirit”) and The Boeing Company, a Delaware corporation, acting by and through its division, Boeing Commercial Airplanes (“Boeing”). Hereinafter, Spirit and Boeing may be referred to individually as a “Party” or jointly as the “Parties.”

BACKGROUND

The Parties have entered into the General Terms Agreement, GTA BCA-65520-0032, dated June 16, 2005, as amended from time to time (the “GTA”) and the Special Business Provisions, BCA-MS-65530-0019, dated June 16, 2005, as amended from time to time (the "SBP") and now desire to again amend the SBP.
A.
This Amendment No. 29 incorporates the Parties’ agreement pertaining to process and materials qualification for 787 in-house composite tape slitting.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, and for other good and valuable consideration, the value, receipt, and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

1.
The SBP is hereby amended by deleting the SBP Table of Amendments Page 4 and replacing it in its entirety with a new Table of Amendments Page 4, attached hereto as Exhibit 1.

2.
The SBP is hereby amended by adding a new SBP Section 12.8.7 “787 In-House Composite Tape Slitting,” attached hereto as Exhibit 2.



EXHIBIT 10.3

3.
Entire Agreement. Except as otherwise indicated in this Amendment No. 29, all terms defined in the SBP or GTA shall have the same meanings when used in this Amendment No. 29. This Amendment No. 29 constitutes the complete and exclusive agreement between the Parties with respect to the subject matter of this Amendment No. 29, and this Amendment No. 29 supersedes all previous agreements between the Parties relating to the subject matter of Amendment No. 29, whether written or oral. The SBP and GTA shall remain in full force and effect and are not modified, revoked, or superseded except as specifically stated in this Amendment No. 29.


IN WITNESS WHEREOF, the duly authorized representatives of the Parties have executed this Amendment No. 29 as of the last date of execution set forth below.

The Boeing Company                     Spirit AeroSystems Inc.
Acting by and through its division
Boeing Commercial Airplanes
By:    /s/ Helena Langowski                    By:    /s/ Leah Bockover    
Name:    Helena Langowski                    Name:    Leah Bockover    
Title:    Contracts Procurement Agent            Title:    Contract Administrator    
Date:    May 14, 2019                    Date:    May 14, 2019    































EXHIBIT 10.3

AMENDMENTS
Page 4
Number

23




24




25













26



27





28










29
Description

Annual Price Adjustment thru Line Number [*****]
Updated SBP Attachments 1, 2, and 27
Boeing Performed Rework and Repair
Updated SBP Attachment 16 Table A.1

Annual Price Adjustment thru Line Number [*****]
Updated SBP Attachments 1, 2, 3, and 27
Boeing Performed Rework and Repair
Updated SBP Attachment 16 Table A.1

MOU Dated 8-1-17 (Collective Resolution)
Amended SBP Sections 3.2.1, 4.1.3, 4.2, 4.3.1.1, 4.10, 4.12, 5.2.1, 7.2.1, 7.2.2, 7.5.1, 7.8.2, 8.1, 11.2, 12.6, and 12.8.1
Updated SBP Attachments 1, 2, 3, 7, 10, 16, 26, 27, 28, and 30
Annual Shipset Price Adjustment thru Line Number [*****]
Updated SBP Attachments 1, 2, and 27
Annual Shipset Price Adjustment thru Line Number [*****]
Updated SBP Attachments 1 and 2
Boeing Performed Rework and Repair
Updated SBP Attachment 16 Table A.1

PMI De-Implementation
Updated SBP Attachments 1 and 27
Added SBP Section 12.8.6 and Attachment 31

Annual Shipset Price Adjustment thru Line Number [*****]
Updated SBP Section 7.2.1 and SBP Attachments 1 and 2
Boeing Performed Rework and Repair
Updated SBP Attachment 16 Section A

MOA Dated 12-21-2018 (Collective Resolution 2.0)
Amended SBP Sections 4.1.3, 4.10, 5.5, and 7.5 and SBP Attachments 1, 7, 18, 27, 30, and 31
Added SBP Section 4.12.1 and Attachments 32 and 33
(Concurrently with the MOA, the Parties also executed that certain Settlement and Release Agreement dated 12-21-2018 pertaining to the release and settlement of warranty and various other claims)

787 In-House Composite Tape Slitting
Added SBP Section 12.8.7
Date

8/3/15




12/16/15




9/22/17












12/14/17



8/17/18





1/30/19











5/14/19
Approval

J. Loomis
L. Hampton



J. Loomis
L. Hampton



J. Will
M. Kurimsky











R. Satterthwaite
L. Hampton

H. Langowski
L. Hampton



T. McGuigan
E. Bossler









H. Langowski
L. Bockover




EXHIBIT 10.3



12.8.7
787 In-House Composite Tape Slitting
Boeing will qualify Spirit for 787 in-house tape slitting for composite material used on Products listed in Attachment 1 subject to the following conditions:
A. Spirit will be qualified for composite tape slitting in accordance with Boeing Specification Support Standards [*****] and [*****] and will be listed in the Qualified Parts List (QPL). Boeing will limit the qualification use to 787 Section 41 statement of work. Any other use of the qualification will need prior Boeing approval.
B. Boeing will allocate internal Boeing Research & Technology (BR&T) resources for up to [*****] in support of Spirit’s qualification. Any activity beyond this [*****] will be the responsibility of Spirit. Prior to exceeding [*****], Boeing will notify Spirit and collectively work to a mutually agreed-to plan, including schedule and compensation, for any [*****] exceeding the [*****] baseline.
C. Boeing will assist with the new [*****] material qualification with [*****]. Spirit will be responsible for any [*****] master roll to parent roll qualification expenses incurred by Spirit.
D. Spirit will be responsible for any of Spirit’s lost capital investment if qualification is not achieved.
E. Spirit will be responsible for direct coordination with [*****] on [*****] material pricing for materials purchased by Spirit.
    



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:7/31/198-K
For Period end:6/27/19
5/14/19
6/16/05
 List all Filings 

4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/22/24  Spirit AeroSystems Holdings, Inc. 10-K       12/31/23  127:21M                                    Workiva Inc Wde… FA01/FA
 2/17/23  Spirit AeroSystems Holdings, Inc. 10-K       12/31/22  117:21M                                    Workiva Inc Wde… FA01/FA
 2/15/22  Spirit AeroSystems Holdings, Inc. 10-K       12/31/21  116:22M                                    Workiva Inc Wde… FA01/FA
 2/25/21  Spirit AeroSystems Holdings, Inc. 10-K       12/31/20  113:27M                                    Workiva Inc Wde… FA01/FA
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