EXHIBIT 10.1
DASSAULT FALCON 2000EX
TIME-SHARING AGREEMENT
This Agreement
is made effective as of March 1, 2005 by and
between NIKE, Inc., an Oregon corporation,
with principal offices at
One Bowerman Drive, Beaverton, Oregon
97005-6453 ("Owner"), and William
D. Perez, with a principal business office
address of One Bowerman
Drive, Beaverton, Oregon 97005-6453
("Lessee").
RECITALS
WHEREAS, Owner
is the registered Owner of that certain civil
Aircraft bearing the United States
Registration Number N6453, and of
the type Dassault Falcon 2000EX ("the
Aircraft" or "Aircraft"); and
WHEREAS, Owner
and Lessee desire to lease the Aircraft and flight
crew on a time-sharing basis as defined in
Section 91-501(c)(1) of the
Federal Aviation Regulations ("FAR").
THEREFORE, for
good and valuable consideration, Owner and Lessee
hereby agree as follows:
1. Lease of
Aircraft. Owner agrees
to lease the Aircraft to Lessee
_________________
pursuant to the provisions of FAR
91-501(c)(1) and to provide a fully
qualified flight crew for all operations
for the period commencing on
the date of this Agreement and terminating
on the date Lessee ceases to
serve in the capacity of at least President
or Chief Executive Officer
of NIKE, Inc.
2. Expenses.
Lessee shall pay Owner
for each flight conducted
________
under this Agreement the aggregate
incremental cost of each specific
flight. Such cost shall in no event exceed
the sum of the following
expenses authorized by FAR 91-501(d):
(a) Fuel, oil, lubricants, and other
additives;
(b) Travel expenses of the crew,
including food, lodging and ground
transportation;
(c) Hangar and tie down costs away
from the Aircraft's base of
operation;
(d) Insurance obtained for a specific
flight;
(e) Landing fees, airport taxes and
similar assessments including, but
not limited to
IRC Section 4261 and related excise taxes;
(f) Customs, foreign permit, and
similar fees directly related to the
flight;
(g) In-flight food and beverages;
(h) Passenger ground
transportation;
(i) Flight planning and weather
contract services; and
(j) An additional charge equal to 100%
of the expenses listed in
subparagraph (a)
of this Section.
3. Payment of
Expenses. Owner will
pay all expenses related to the
___________________
operation of the Aircraft when incurred,
and will provide an invoice
and bill Lessee for the expenses enumerated
in Section 2 above on the
last day of the month in which any flight
or flights for the account of
Lessee occur. Lessee shall pay Owner for said
expenses within 30 days
of receipt of the invoice and bill
therefor.
4. Scheduling.
Lessee will provide
Owner with requests for flight
__________
time and proposed flight schedules as far
in advance of any given
flight as possible, and in any case, at
least 24 hours in advance of
Lessee's planned departure. Requests for flight time shall be
in a
form, whether written or oral, mutually
convenient to, and agreed upon
by the parties. In addition to the proposed
schedules and flight
times, Lessee shall provide at least the
following information for each
proposed flight at some time prior to
scheduled departure as required
by the Owner or Owner's flight crew:
(a) proposed departure
point;
(b) destination;
(c) date and time of flight;
(d) the number of anticipated
passengers;
(e) the nature and extent of
luggage and/or cargo to be carried;
(f) the date and time of return
flight, if any; and
(g) any other information
concerning the proposed flight that may be
pertinent
or required by Owner or Owner's flight crew.
5. Conflicts in
Scheduling. Owner
shall have final a
