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Exhibit 10.3

SECOND AMENDMENT TO THE
2006 AMENDED AND RESTATED EQUITY COMPENSATION PLAN
OF
AIR METHODS CORPORATION

1.           The 2006 Equity Compensation Plan (the “Plan”) of Air Methods
Corporation, a Delaware corporation (the “Company”), was approved by the Board
of Directors on May 3, 2006, and submitted for approval by the Company’s
stockholders, and approved, on August 2, 2006, and subsequently amended and
restated on August 6, 2009.

2.           This Second Amendment to the Plan (this “Amendment”) was approved
by the Board of Directors on February 12, 2010, and submitted for approval by
the Company’s stockholders, and approved, on June 17, 2010.  Capitalized terms
not otherwise defined herein shall have the meaning set forth in the Plan.

3.           Section 6.1 of Article VI of the Plan is hereby deleted and
replaced in its entirety as follows:

“6.1           Maximum Number.  The maximum aggregate number of shares of Common
Stock that may be issued pursuant to Equity Compensation Grants granted under
the Plan shall be 1,000,000.  If any shares of Common Stock subject to an Equity
Compensation Grant are forfeited or expire under the terms of the Grant, such
shares may again be made subject to Equity Compensation Grants.”

4.           Except as provided in this Amendment, the Plan is unchanged and
remains in full force and effect.
 
 

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