**Exhibit 10.29****Adoption of 2006 Incentive Compensation Plan**On March 24, 2006, the Board of Directors of AirNet, upon the recommendation of the CompensationCommittee, adopted the 2006 Incentive Compensation Plan (the “2006 Incentive Plan”).The purpose of the 2006 Incentive Plan is to promote the following goals of AirNet for the fiscalyear ending on December 31, 2006 (“Fiscal 2006”) by providing incentive compensation to certainemployees of AirNet and its subsidiaries: **•** Attaining designated levels of pre-tax income;  **•** Improving cash flow and reducing debt;  **•** Defining and executing plans to offset expected declines in Bank Services revenues;  **•** Reducing the fixed cost structure of AirNet; and  **•** Meeting high priority deadlines of AirNet.Participants in the 2006 Incentive Plan include AirNet’s executive officers — Joel E. Biggerstaff(Chairman of the Board, Chief Executive Officer and President), Gary W. Qualmann (Chief FinancialOfficer, Treasurer and Secretary), Larry M. Glasscock, Jr. (Senior Vice President, ExpressServices), Jeffery B. Harris (Senior Vice President, Bank Services), Wynn D. Peterson (Senior VicePresident, Jetride Services), Ray L. Druseikis (Controller and Principal Accounting Officer), CraigA. Leach (Vice President, Information Systems) — and certain department managers and departmentdirectors. As of the date of this Annual Report on Form 10-K, there were 47 participants in the2006 Incentive Plan.Payments under the 2006 Incentive Plan will be based upon a combination of AirNet’s pre-tax incomefor Fiscal 2006, the operating performance of AirNet’s Delivery Services and Passenger CharterServices business segments, and the achievement of personal goals assigned to each participant. TheCompensation Committee approves personal goals for executive officers and reviews the personalgoals for other participants. The personal goals approved by the Compensation Committee for eachof the executive officers relate to specific business objectives related to general businessoperations (e.g., regulatory compliance, expense reductions, etc.) and each business segment (e.g.,execution of specific contracts with customers and vendors, cost reductions, service improvements,etc.).No incentive compensation will be paid under the 2006 Incentive Plan unless AirNet achieves adesignated threshold level of pre-tax income for Fiscal 2006. Once the designated threshold levelis achieved, the available incentive compensation payments will increase based upon predeterminedpre-tax income levels until a maximum aggregate amount of $1.9 million in incentive compensationpayments is reached. After the overall amount of incentive compensation is determined based uponAirNet’s pre-tax income for Fiscal 2006, incentive compensation will be allocated to individualparticipants based upon the following four factors: (i) level of pre-tax income attained by AirNet;(ii) level of contribution margin attained by Delivery Services as compared to certainpredetermined levels; (iii) levels of contribution margin attained by Passenger Charter Services ascompared to certain predetermined levels; and (iv) attainment of personal goals.A participant’s maximum incentive compensation payment ranges from 20% to 100% of the participant’sbase salary, depending upon such participant’s level of responsibility for achieving AirNet’s goalsfor Fiscal 2006. Twenty percent of each participant’s incentive compensation payments will bebased upon the participant’s achievement of pre-established personal goals. The remaining 80% ofeach participant’s incentive compensation payment will be based upon a combination of the otherthree factors discussed above, which will be allocated to each participant based upon suchparticipant’s overall responsibility for attaining the designated levels of AirNet’s pre-tax incomeand contribution margins for the Delivery Services and Passenger Charter Services businesssegments.In the event the incentive compensation payments otherwise available for payment under the 2006Incentive Plan based upon AirNet’s level of pre-tax income is not paid to certain participants as aresult of those participants’ failure to attain their personal goals or AirNet’s failure to attainthe predetermined levels of budgeted contribution margins in Delivery Services or Passenger CharterServices, such unpaid amounts may be awarded at the discretion of the Compensation Committee toparticipants in the 2006 Incentive Plan or to other employees of AirNet not participating in the2006 Incentive Plan.

 
The maximum percentage of annual base salary that each of AirNet’s executive officers may receiveas incentive compensation under the Incentive Plan is as follows: Joel E. Biggerstaff, 100%; GaryW. Qualmann, Larry M. Glasscock, Jr., Jeffrey B. Harris and Wynn D. Peterson, 75%; Ray L. Druseikisand Craig A. Leach, 50%.Except for payments to the executive officers, payments under the 2006 Incentive Plan will be paidin quarterly payments commencing with the second quarter of Fiscal 2006 based upon AirNet’s year todate financial performance. Payments of incentive compensation to executive officers will be madein the first quarter of the fiscal year ending December 31, 2007 based upon AirNet’s performanceand each executive officer’s performance for Fiscal 2006. In order to receive payment, aparticipant must be actively employed by AirNet at the time the payment is made. New employees whoqualify for the 2006 Incentive Plan will be eligible to participate on the first day of thecalendar quarter following their date of hire.The Compensation Committee may amend, modify or terminate the 2006 Incentive Plan at any time.