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Air Lease Corp – ‘10-K’ for 12/31/19 – ‘EX-10.148’

On:  Friday, 2/14/20, at 4:22pm ET   ·   For:  12/31/19   ·   Accession #:  1558370-20-836   ·   File #:  1-35121

Previous ‘10-K’:  ‘10-K’ on 2/21/19 for 12/31/18   ·   Next:  ‘10-K’ on 2/22/21 for 12/31/20   ·   Latest:  ‘10-K’ on 2/15/24 for 12/31/23   ·   8 References:   

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

 2/14/20  Air Lease Corp                    10-K       12/31/19   86:17M                                    Toppan Merrill Bridge/FA

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

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.22M 
 2: EX-4.1      Instrument Defining the Rights of Security Holders  HTML    106K 
 7: EX-10.107   Material Contract                                   HTML     53K 
 8: EX-10.108   Material Contract                                   HTML    236K 
 9: EX-10.117   Material Contract                                   HTML     58K 
10: EX-10.118   Material Contract                                   HTML     69K 
11: EX-10.120   Material Contract                                   HTML     39K 
12: EX-10.121   Material Contract                                   HTML     49K 
13: EX-10.122   Material Contract                                   HTML     44K 
14: EX-10.123   Material Contract                                   HTML     47K 
15: EX-10.124   Material Contract                                   HTML    587K 
16: EX-10.148   Material Contract                                   HTML     33K 
 3: EX-10.28    Material Contract                                   HTML     39K 
 4: EX-10.43    Material Contract                                   HTML    458K 
 5: EX-10.56    Material Contract                                   HTML     80K 
 6: EX-10.82    Material Contract                                   HTML    298K 
17: EX-21.1     Subsidiaries List                                   HTML     25K 
18: EX-23.1     Consent of Experts or Counsel                       HTML     24K 
19: EX-31.1     Certification -- §302 - SOA'02                      HTML     30K 
20: EX-31.2     Certification -- §302 - SOA'02                      HTML     31K 
21: EX-32.1     Certification -- §906 - SOA'02                      HTML     26K 
22: EX-32.2     Certification -- §906 - SOA'02                      HTML     27K 
80: R1          Document and Entity Information                     HTML     88K 
44: R2          Consolidated Balance Sheets                         HTML     90K 
35: R3          Consolidated Balance Sheets (Parenthetical)         HTML     50K 
57: R4          Consolidated Statements of Income and               HTML    112K 
                Comprehensive Income                                             
82: R5          Consolidated Statements of Shareholders' Equity     HTML     77K 
46: R6          Consolidated Statement of Shareholders' Equity      HTML     25K 
                (Parenthetical)                                                  
37: R7          Consolidated Statements of Cash Flows               HTML    123K 
58: R8          Consolidated Statements of Cash Flows               HTML     25K 
                (Parenthetical)                                                  
77: R9          Summary of Significant Accounting Policies          HTML     76K 
34: R10         Debt Financing                                      HTML     86K 
42: R11         Interest Expense                                    HTML     43K 
84: R12         Shareholders' Equity                                HTML     34K 
62: R13         Rental Income                                       HTML     99K 
33: R14         Concentration of Risk                               HTML    136K 
41: R15         Income Taxes                                        HTML    114K 
83: R16         Commitments and Contingencies                       HTML     83K 
60: R17         Net Earnings Per Share                              HTML     74K 
32: R18         Fair Value Measurements                             HTML     30K 
43: R19         Stock-based Compensation                            HTML    116K 
74: R20         Aircraft under management                           HTML     29K 
69: R21         Flight Equipment Held for Sale                      HTML     25K 
31: R22         Quarterly Financial Data (Unaudited)                HTML     76K 
52: R23         Subsequent Events                                   HTML     25K 
73: R24         Summary of Significant Accounting Policies          HTML    115K 
                (Policies)                                                       
68: R25         Summary of Significant Accounting Policies          HTML     33K 
                (Tables)                                                         
30: R26         Debt Financing (Tables)                             HTML     72K 
51: R27         Interest Expense (Tables)                           HTML     43K 
75: R28         Rental Income (Tables)                              HTML     98K 
67: R29         Concentration of Risk (Tables)                      HTML    144K 
53: R30         Income Taxes (Tables)                               HTML    112K 
79: R31         Commitments and Contingencies (Tables)              HTML     78K 
45: R32         Net Earnings Per Share (Tables)                     HTML     72K 
36: R33         Stock-based Compensation (Tables)                   HTML    112K 
56: R34         Quarterly Financial Data (Unaudited) (Tables)       HTML     75K 
81: R35         Summary of Significant Accounting Policies          HTML     92K 
                (Details)                                                        
47: R36         Debt Financing (Details)                            HTML    220K 
38: R37         Debt Financing - Maturities of Debt (Details)       HTML     44K 
59: R38         Interest Expense (Details)                          HTML     35K 
78: R39         Shareholders' Equity (Details)                      HTML    114K 
64: R40         Shareholders' Equity Preferred stock (Details)      HTML     81K 
71: R41         Rental Income (Details)                             HTML    115K 
49: R42         Concentration of Risk (Details)                     HTML    103K 
28: R43         Income Taxes (Details)                              HTML    126K 
65: R44         Commitments and Contingencies (Details)             HTML    116K 
72: R45         Net Earnings Per Share (Details)                    HTML     82K 
50: R46         Fair Value Measurements - Assets and Liabilities    HTML     34K 
                Recurring and Non-recurring (Details)                            
29: R47         Fair Value Measurements - Debt Financing (Details)  HTML     28K 
66: R48         Stock-based Compensation - Stock Options (Details)  HTML    124K 
70: R49         Stock-based Compensation - Stock Option Exercise    HTML     53K 
                Price (Details)                                                  
86: R50         Stock-based Compensation - Restricted Stock         HTML     69K 
                (Details)                                                        
63: R51         Aircraft under management (Details)                 HTML     57K 
39: R52         Flight Equipment held for sale (Details)            HTML     32K 
48: R53         Quarterly Financial Data (Unaudited) (Details)      HTML     50K 
85: R54         Subsequent Events (Details)                         HTML     33K 
61: XML         IDEA XML File -- Filing Summary                      XML    128K 
55: XML         XBRL Instance -- al-20191231x10k1d2204_htm           XML   2.73M 
76: EXCEL       IDEA Workbook of Financial Reports                  XLSX     91K 
24: EX-101.CAL  XBRL Calculations -- al-20191231_cal                 XML    210K 
25: EX-101.DEF  XBRL Definitions -- al-20191231_def                  XML    787K 
26: EX-101.LAB  XBRL Labels -- al-20191231_lab                       XML   1.66M 
27: EX-101.PRE  XBRL Presentations -- al-20191231_pre                XML   1.09M 
23: EX-101.SCH  XBRL Schema -- al-20191231                           XSD    192K 
54: JSON        XBRL Instance as JSON Data -- MetaLinks              367±   565K 
40: ZIP         XBRL Zipped Folder -- 0001558370-20-000836-xbrl      Zip    688K 


‘EX-10.148’   —   Material Contract


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



 C:   C: 
  al_Ex_10_148  

Exhibit 10.148

 

Air Lease Corporation

Non-Employee Director Compensation

 

 

 

 

 

Retainers

    

    

Annual Board Retainer:

 

$

80,000 

 

 

 

 

Committee Member Retainer:

 

 

 

Audit

 

$

15,000 

Compensation

 

$

10,000 

Nominating and Corporate Governance

 

$

10,000 

 

 

 

 

Additional Retainer for Committee Chair:

 

 

 

Audit

 

$

20,000 

Compensation

 

$

10,000 

Nominating and Corporate Governance

 

$

10,000 

 

 

 

 

Lead Director Retainer:

 

$

50,000 

 

As a matter of policy each director could elect to have his or her retainer paid in cash or shares of the Company’s Class A Common Stock, or a combination thereof.

A non-employee director will receive a meeting fee of $1,500 per meeting (i) if he or she attends a number of Board of Directors (“Board”) meetings in excess of the number of scheduled meetings plus two additional Board meetings during the applicable calendar year or (ii) if he or she attends during the applicable calendar year a number of meetings of a committee on which he or she serves, in excess of the number of scheduled meetings plus two additional meetings of that committee for that year.

Non-employee directors may be paid a per diem fee of $2,500 for non-ordinary course Board or committee activity (excluding any educational events) subject to the approval of the Company’s Board, the Chairman of the Board or the Lead Director of the Board.

Equity Awards

Each non-employee director who joins the Company’s Board receives an initial grant of restricted stock units (“RSUs”) to be settled in shares of the Company’s Class A Common Stock (“Initial Director Grant”) with an aggregate value of $180,000. Thereafter, each year the non-employee directors receive an annual RSU award to be settled in shares of the Company’s Class A Common Stock (the “Annual Director Grant”) with an aggregate value of $130,000.

The value of all grants of RSUs is based on the closing price of the Company’s Class A Common Stock on the date of grant. All RSUs awarded to the non-employee directors vest in full on the first anniversary of the grant date, and if the Board service of such a director terminates for any reason, other than following a change in control, the RSUs will vest on a daily prorated basis according to the number of days between the grant date and the termination of service, divided by 365. If the service terminates following a change in control, the RSUs will vest in full. The Initial Director Grants and the Annual Director Grants are made pursuant to the Air Lease Corporation 2014 Equity Incentive Plan or any successor plan.

Each director may annually elect to defer the receipt of his or her Annual Director Grant shares beyond the one-year vesting period. Directors may elect to defer his or her shares until separation from service or

 

alternatively, may elect a deferral period of five years or ten years from the date of grant, provided that shares will be distributed upon a separation from service, a change of control or at death, if earlier than the elected deferral date. Deferred RSUs receive dividend equivalents which are reinvested in additional RSUs based on the market price of the Company’s Class A Common Stock on the date the dividends are paid.

Expense Reimbursement

The Company reimburses directors for travel and lodging expenses incurred in connection with their attendance at meetings and other expenses incurred in connection with their service to the Company.


8 Subsequent Filings that Reference this Filing

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

 2/15/24  Air Lease Corp.                   10-K       12/31/23   98:10M                                    Workiva Inc Wde… FA01/FA
 2/16/23  Air Lease Corp.                   10-K       12/31/22  101:12M                                    Workiva Inc Wde… FA01/FA
 2/17/22  Air Lease Corp.                   10-K       12/31/21  105:12M                                    Workiva Inc Wde… FA01/FA
 2/24/21  Air Lease Corp.                   424B2                  1:801K                                   Donnelley … Solutions/FA
 2/23/21  Air Lease Corp.                   424B5                  1:800K                                   Donnelley … Solutions/FA
 2/22/21  Air Lease Corp.                   10-K       12/31/20   83:13M                                    Toppan Merrill Bridge/FA
11/09/20  Air Lease Corp.                   10-Q        9/30/20   61:6.5M                                   Toppan Merrill Bridge/FA
 8/06/20  Air Lease Corp.                   10-Q        6/30/20   62:6.6M                                   Toppan Merrill Bridge/FA
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Filing Submission 0001558370-20-000836   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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