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                                                                    EXHIBIT 10.2

                              EMPLOYMENT AGREEMENT

                                       FOR

                                 BRUCE D. PARKER

     This Agreement is entered into this 28th day of December, 2006, by and
between AirNet Systems, Inc. (hereinafter referred to as the "Employer") and
Bruce D. Parker (hereinafter referred to as the "Executive").

     WHEREAS, the Employer desires to employ the Executive as its Chief
Executive Officer (the "CEO") and anticipates that the Executive will be
appointed as chairman of the Board of Directors of the Employer (the "Board");

     WHEREAS, the Executive desires to be employed with the Employer in such
capacity under the terms of this Agreement;

     NOW, THEREFORE, and in consideration of the mutual covenants herein
contained and other valuable consideration, the receipt and adequacy of which is
agreed to by the parties, the Employer and the Executive hereby mutually agree
as follows:

     1. EMPLOYMENT AND DUTIES. The Employer hereby employs the Executive, and
the Executive hereby accepts employment with the Employer upon the terms and
conditions hereinafter set forth. The Executive will serve the Employer as its
CEO. In such capacity, the Executive will report directly to the Board and have
all powers, duties, and obligations as are normally associated with such
position. Every executive officer of the Company shall report to Executive. The
Executive will further perform such other duties, which shall not be
inconsistent with his position as CEO of Company, and hold such other position
related to the business of the Employer and its Affiliates as may from time to
time be reasonably requested of him by the Board. For purposes of this
Agreement, an "Affiliate" shall mean any corporation (including any non-profit
corporation), general or limited partnership, limited liability company, joint
venture, trust, association or organization which is, directly or indirectly,
controlled by, or under common control with, the Employer. The Executive will
devote his skills, time, and attention to said position and in furtherance of
the business and interests of the Employer and its Affiliates and will not
directly or indirectly render any services of a business, commercial or
professional nature to any person or organization without the prior written
consent of the Board (which will not be unreasonably withheld or delayed);
provided, however, that the Executive will not be precluded from (a) continuing
as a member of any board of directors on which he is serving as of the Effective
Date or joining one additional board of directors; (b) maintaining and operating
his consulting company in existence as of the Effective Date; and (c)
participation in community, civic, charitable or similar activities which do not
unreasonably interfere with his responsibilities hereunder. The Employer agrees
to use its commercially reasonable efforts to cause Executive to be nominated as
a director at each annual meeting of shareholders during the term of this

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Agreement. Executive agrees to serve on the Board if elected. A failure to
nominate the Executive to the Board of Directors during the term of this
Agreement shall give the Executive the right to terminate his employment under
this Agreement in accordance with Paragraph 5(g) hereof.

     2. TERM OF EMPLOYMENT.

     a. Original Term. This Agreement will be effective upon execution by both
parties. The term of employment will begin, or be deemed to have begun, on
December 28, 2006 (the "Effective Date"). It will continue through the one-year
period ending on the day before the first anniversary date of the Effective
Date, subject, however, to prior termination or to extension, as herein
provided.

     b. Extension of Term. The Employer and the Executive agree that the Board
will review the Executive's performance with the intent that, if the Executive's
performance so warrants, the Employer may extend the term of this Agreement for
additional time periods to be determined in the discretion of the Board. By
October 1, 2007, or, in the event that this Agreement is extended as provided
for in this Paragraph 2(b), within ninety (90) days preceding the end of any
extension period, the Board will notify the Executive of the Employer's decision
whether or not to grant an extension of this Agreement for an additional time
period. In the event that the Board fails to notify the Executive, on or before
the date described in the preceding sentence, of the decision regarding the
extension of the term of this Agreement, the term of this Agreement will
automatically be extended for an additional one-year period.

     3. COMPENSATION.

     a. Salary. The Executive will receive an initial annual base salary of
Three Hundred Sixty Thousand Dollars ($360,000), which shall be reviewed at
least annually and may be increased, but not decreased without the Executive's
written consent, by the Board during the term of this Agreement. In the event
that the Board increases the Executive's initial base salary, the amount of the
initial base salary, together with any increase(s) will be his base salary
(hereinafter referred to as the "Base Salary"). The Base Salary will be payable
in accordance with the Employer's regular payroll payment practices.

     b. Sign-on Bonus. Within 5 days following the Effective Date, the Employer
will pay the Executive a single lump sum amount equal to One Hundred Twenty-Five
Thousand Dollars ($125,000) as an incentive to enter into this Agreement.
Payment will be made by the Employer in accordance with directions received from
the Executive.

     c. Annual Bonus. Each calendar year, the Executive will be eligible for
bonus compensation of up to one hundred percent (100%) of his Base Salary (the
"Annual Bonus"). Such Annual Bonus will be based upon the attainment of
reasonable goals determined annually within one month after the start of each
calendar year by the Board. These goals may include, but shall not be limited
to, (i) performance against budget; (ii) growth of cargo revenue; (iii) CEO
succession development; (iv) strategic development; and (v) cash flow. Any
Annual Bonus payable under this Paragraph 3(c) will be paid to the Executive in
two installments. The first payment (based upon a target of 50% of his Base
Salary and the attainment of relevant goals

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from January 1st through June 30th of each calendar year) will be made during
the month of July of each year; and the second payment (based upon a target of
the remaining 50% of his Base Salary and the attainment of relevant goals from
July 1st through December 31st of each calendar year) will be made no later than
March 15th of the calendar year following the calendar year for which such bonus
is payable.

     d. Equity. Upon the Effective Date, the Executive will be granted a
non-statutory stock option to purchase 150,000 common shares of the Employer
with an exercise price equivalent to the closing price of the stock as of the
Effective Date. Such option will be granted pursuant to the terms of the
Employer's incentive equity plan (the "Equity Plan"); provided, that the right
to purchase shares pursuant to the option will vest in (i) 75,000 shares as of
the date of grant; and (ii) 75,000 shares on the day before the first
anniversary of the date of grant. In the event that the Executive remains
employed by the Employer after the first anniversary of the Effective Date, the
Board will review and may, in its discretion, make additional grants of equity
awards to the Executive under the Equity Plan.

     4. FRINGE BENEFITS AND EXPENSES.

     a. Fringe Benefits. The Employer will provide the Executive with all health
and life insurance coverages, disability programs, tax-qualified retirement
plans, equity compensation programs, paid holidays, vacation, perquisites, and
such other fringe benefits of employment as the Employer may provide from time
to time to actively employed senior executives of the Employer. To the greatest
extent reasonably practicable, such benefits will be immediately available as of
the Effective Date without any waiting periods or delays. Notwithstanding any
provision contained in this Paragraph 4(a), during the term of this Agreement
(including extensions thereof), the Executive will be entitled to a minimum of
four (4) weeks of vacation per year. The Employer may discontinue or terminate
at any time any employee benefit plan, policy or program, now existing or
hereafter adopted, to the extent permitted by the terms of such plan, policy or
program and will not be required to compensate the Executive for such
discontinuance or termination.

     b. Travel and Living Expenses. During the term of this Agreement (including
extensions thereof), the Employer will provide the Executive with an apartment,
agreeable to the Executive, in the Columbus Metropolitan area. The Employer will
pay all expenses related to the maintenance of such apartment and will reimburse
the Executive for all reasonable living expenses incurred by him while he is in
the Columbus area. In addition, the Employer will reimburse the Executive for
all reasonable travel expenses (at coach rates) incurred by him between his home
and the Columbus area. Any expenses paid or reimbursed by the Employer pursuant
to this Paragraph 4(b) will be grossed up to take into account all federal,
state and local income taxes to be paid by the Executive with respect to the
payment or reimbursement of such expenses. The Employer will pay such gross up
amount to the Executive in a single lump sum payment within 15 days prior to the
date on which the Executive is required to file his federal income tax return
for the relevant tax year.

     c. Business Expenses. The Employer shall reimburse the Executive for all
reasonable entertainment and miscellaneous expenses incurred by the Executive in
connection with the performance of his business activities under this Agreement,
in accordance with the

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existing policies and procedures of the Employer pertaining to reimbursement of
such expenses to senior executives.

     5. TERMINATION OF EMPLOYMENT.

     a. Death of Executive. The Executive's employment hereunder will terminate
upon his death and the Executive's beneficiary (as designated by the Executive
in writing with the Employer prior to his death) will be entitled to the
following payments and benefits:

          i. any Base Salary that is accrued but unpaid, the value of any
vacation that is accrued but unused (determined by dividing Base Salary by 365
and multiplying such amount by the number of unused vacation days), and any
expenses under subparagraphs b and c of Paragraph 4 that are unreimbursed--all,
as of the date of termination of employment; and

          ii. any rights and benefits (if any) provided under plans and programs
of the Employer, determined in accordance with the applicable terms and
provisions of such plans and programs.

     In the absence of a beneficiary designation by the Executive, or, if the
Executive's designated beneficiary does not survive him, payments and benefits
described in this subparagraph will be paid to the Executive's estate.

     b. Disability. The Executive's employment hereunder may be terminated by
the Employer in the event of his Disability. For purposes of this Agreement,
"Disability" means the inability of the Executive to engage in any substantial
gainful activity by reason of any medically determinable physical or mental
impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than twelve (12) months. During any period
that the Executive fails to perform his duties hereunder as a result of a
Disability ("Disability Period"), the Executive will continue to receive his
Base Salary at the rate then in effect for such period until his employment is
terminated pursuant to this subparagraph; provided, however, that payments of
Base Salary so made to the Executive will be reduced by the sum of the amounts,
if any, that were payable to the Executive at or before the time of any such
salary payment under any disability benefit plan or plans of the Employer and
that were not previously applied to reduce any payment of Base Salary. In the
event that the Employer elects to terminate the Executive's employment pursuant
to this subparagraph, the Executive will be entitled to the following payments
and benefits:

          i. any Base Salary that is accrued but unpaid, the value of any
vacation that is accrued but unused (determined by dividing Base Salary by 365
and multiplying such amount by the number of unused vacation days), and any
expenses under subparagraphs b and c of Paragraph 4 that are unreimbursed--all,
as of the date of termination of employment; and

          ii. any rights and benefits (if any) provided under plans and programs
of the Employer, determined in accordance with the applicable terms and
provisions of such plans and programs.

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     c. Termination of Employment for Cause. The Employer may terminate the
Executive's employment at any time upon notice from Company for "Cause," if such
Cause is determined by the Board. For purposes of this Agreement, the term
"Cause" means that the Executive has:

          i. intentionally caused the Employer or any of its Affiliates, other
than pursuant to the advice of the Employer's legal counsel, to violate a law
which is reasonable grounds for serious civil or criminal penalties against the
Employer, an Affiliate or the Board;

          ii. committed fraud or acted with intentional misconduct or gross
negligence, in carrying out his duties under this Agreement which has caused
demonstrable and serious injury to the Company;

          iii. been convicted of any crime involving moral turpitude or a
violation of federal or state securities laws.

          iv. intentionally committed a material breach of any material
covenant, provision, term or condition set forth in this Agreement and, if such
breach is capable of being cured, shall have failed to cure such breach within
ten (10) days of receipt of written notice of such breach from the Board.

     In the event that the Employer terminates the Executive's employment for
Cause, the Executive will be entitled to the following payments and benefits:

               A. any Base Salary that is accrued but unpaid, the value of any
vacation that is accrued but unused (determined by dividing Base Salary by 365
and multiplying such amount by the number of unused vacation days), and any
expenses under subparagraphs b and c of Paragraph 4 that are unreimbursed--all,
as of the date of termination of employment; and

               B. any rights and benefits (if any) provided under plans and
programs of the Employer, determined in accordance with the applicable terms and
provisions of such plans and programs.

     d. Termination Without Cause. The Employer may terminate the Executive's
employment for any reason upon thirty (30) days prior written notice to the
Executive. If the Executive's employment is terminated by the Employer for any
reason other than the reasons set forth in subparagraphs a, b or c of this
Paragraph 5, the Executive will be entitled to the following payments and
benefits:

          i. any Base Salary that is accrued but unpaid, any Annual Bonus earned
on a prorated calendar basis to the date of termination but unpaid and
reflecting performance over the applicable period (based upon, if possible,
measurement of the attainment of goals through the date of termination, or if
measurement is not possible, based upon the Executive's target bonus through the
date of termination) (hereinafter referred to as the "Accrued Bonus"), the value
of any vacation that is accrued but unused (determined by dividing Base Salary
by 365 and multiplying such amount by the number of unused vacation days), and
any

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expenses under subparagraphs b and c of Paragraph 4 that are unreimbursed--all,
as of the date of termination of employment;

          ii. any rights and benefits (if any) provided under plans and programs
of the Employer, determined in accordance with the applicable terms and
provisions of such plans and programs;

          iii. notwithstanding any provision contained elsewhere in this
Agreement, full vesting of all outstanding awards granted to the Executive under
the Equity Plan and, for purposes of exercising such awards, treatment of the
Executive's termination of employment as a retirement under the Equity Plan; and

          iv. a single lump sum payment, payable within thirty (30) days
following the date of termination of employment, equal to twelve (12) months of
the Base Salary applicable to the Executive on the date of termination of
employment.

     e. Voluntary Termination by Executive. The Executive may resign and
terminate his employment with the Employer for any reason whatsoever upon not
less than thirty (30) days' prior written notice to the Employer. In the event
that the Executive terminates his employment voluntarily pursuant to this
Paragraph 5(e), the Executive will be entitled to the following payments and
benefits:

          i. any Base Salary that is accrued but unpaid, any Accrued Bonus, the
value of any vacation that is accrued but unused (determined by dividing Base
Salary by 365 and multiplying such amount by the number of unused vacation
days), and any expenses under subparagraphs b and c of Paragraph 4 that are
unreimbursed--all, as of the date of termination of employment; and

          ii. any rights and benefits (if any) provided under plans and programs
of the Employer, determined in accordance with the applicable terms and
provisions of such plans and programs.

     f. Voluntary Termination Upon Retention of New CEO. The Executive may
resign and terminate his employment with the Employer upon the voluntary
transition of the CEO's responsibilities to another individual that has been
selected and is reasonably acceptable to the Board by providing thirty (30)
days' prior written notice to the Employer. In the event that the Executive
terminates his employment pursuant to this Paragraph 5(f), the Executive will be
entitled to the following payments and benefits:

          i. any Base Salary that is accrued but unpaid, any Accrued Bonus, the
value of any vacation that is accrued but unused (determined by dividing Base
Salary by 365 and multiplying such amount by the number of unused vacation
days), and any expenses under subparagraphs b and c of Paragraph 4 that are
unreimbursed--all, as of the date of termination of employment;

          ii. any rights and benefits (if any) provided under plans and programs
of the Employer, determined in accordance with the applicable terms and
provisions of such plans and programs;

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          iii. notwithstanding any provision contained elsewhere in this
Agreement, full vesting of all outstanding awards granted to the Executive under
the Equity Plan and, for purposes of exercising such awards, treatment of the
Executive's termination of employment as a retirement under the Equity Plan; and

          iv. a single lump sum payment, payable within thirty (30) days
following the date of termination of employment, equal to six (6) months of the
Base Salary applicable to the Executive on the date of termination of
employment.

     g. Termination By Executive for Good Reason. The Executive shall have the
right to terminate his employment under this Agreement upon thirty (30) days'
prior written notice following the occurrence of any of the following events:

          i. Executive is not nominated as a director during the term of this
Agreement;

          ii. the Board significantly and adversely changes the nature or scope
of the Executive's authority, powers, functions, duties or responsibilities;

          iii. without the prior consent of the Executive, there is a
substantial and continued reduction in the level of support services, staff,
secretarial and other assistance, office space available to a level below that
which is reasonably necessary for the performance of Executive's duties;

          iv. the Company shall have committed a material breach of any material
covenant, provision, term or condition set forth in this Agreement and, if such
breach is capable of being cured, shall have failed to cure such breach within
ten (10) days of receipt of written notice of such breach from the Executive; or

          v. without the prior consent of the Executive, the Company shall fail
to keep in place Director and Officer Liability Insurance covering the Executive
under substantially similar terms and in substantially similar amounts as in
existence prior to the Effective Date.

In the event that the Executive terminates his employment pursuant to this
Paragraph 5(g), the Executive will be entitled to the same payments and benefits
as if Executive had been terminated without Cause as described in Paragraph
5(d).

     h. Failure to Extend Term of Agreement. If the Employer notifies the
Executive that the Employer will not extend the term of this Agreement under the
provisions of Paragraph 2(b) hereof, the Executive's employment under this
Agreement will terminate at the end of such term and the Executive will be
entitled to the same payments and benefits as if the Executive had been
voluntarily terminated upon retention of a new CEO as described in Paragraph
5(f).

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     6. CHANGE IN CONTROL.

     a. Occurrence of Change in Control. In the event that during the term of
this Agreement, a Change in Control [as defined under Section 409A of the
Internal Revenue Code of 1986, as amended (the "Code") and the regulations
thereunder] occurs the Employer or its successor will pay to the Executive the
following payments and benefits:

          i. any Base Salary that is accrued but unpaid, any Accrued Bonus, the
value of any vacation that is accrued but unused, (determined by dividing Base
Salary by 365 and multiplying such amount by the number of unused vacation
days), and any expenses under subparagraphs b and c of Paragraph 4 that are
unreimbursed -- all, as of the date of termination of employment;

          ii. any rights and benefits (if any) provided under plans and programs
of the Employer, determined in accordance with the applicable terms and
provisions of such plans and programs;

          iii. notwithstanding any provision contained elsewhere in this
Agreement, full vesting of all outstanding awards granted to the Executive under
the Equity Plan and, for purposes of exercising such awards, treatment of the
Executive's termination of employment as a retirement under the Equity Plan; and

          iv. a single lump sum payment, payable within thirty (30) days after
the Change in Control, equal to twelve (12) months of the total Base Salary
applicable to the Executive as of the date of the Change in Control.

     b. Treatment of Taxes. If any payments provided under this Agreement, when
combined with payments and benefits under all other plans and programs
maintained by the Employer would be subject to the excise tax imposed by Section
4999 of the Code or any corresponding provisions of state or local tax laws as a
result of payment upon a change of control, or any interest or penalties are
incurred by the Executive with respect to such excise tax (such excise tax,
together with any such interest and penalties, are hereinafter collectively
referred to as the "Excise Tax"), then the Executive shall be entitled to
receive an additional payment (a "Gross-Up Payment") in an amount such that
after payment by the Executive of all taxes (including any interest or penalties
imposed with respect to such taxes) imposed upon the Gross-Up Payment, the
Executive retains an amount of the Gross-Up Payment equal to the Excise Tax
imposed upon the payments.

     7. NONEXCLUSIVITY OF RIGHTS. Nothing in this Agreement will prevent or
limit the Executive's continuing or future participation in any incentive,
fringe benefit, deferred compensation, or other plan or program provided by the
Employer and for which the Executive may qualify, nor will anything herein limit
or otherwise affect such rights as the Executive may have under any other
agreements with the Employer. Amounts that are vested benefits or that the
Executive is otherwise entitled to receive under any plan or program of the
Employer at or after the date of termination of employment, will be payable in
accordance with such plan or program.

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     8. CONFIDENTIAL INFORMATION. The Executive will hold in a fiduciary
capacity, for the benefit of the Employer, all secret or confidential
information, knowledge, and data relating to the Employer and its Affiliates,
that shall have been obtained by the Executive during his employment with the
Employer and that is not public knowledge (other than by acts by the Executive
or his representatives in violation of this Agreement). During and after
termination of the Executive's employment with the Employer, the Executive will
not, without the prior written consent of the Board, communicate or divulge any
such information, knowledge, or data to anyone other than the Employer or those
designated by it, unless the communication of such information, knowledge or
data is required pursuant to a compulsory proceeding in which the Executive's
failure to provide such information, knowledge, or data would subject the
Executive to criminal or civil sanctions and then only with prior notice to the
Employer.

     The restrictions imposed on the release of information described in this
Paragraph 8 may be enforced by the Employer and/or any successor thereto by an
action for injunction and/or an action for damages. The provisions of this
Paragraph 8 constitute an essential element of this Agreement, without which the
Employer would not have entered into this Agreement. Notwithstanding any other
remedy available to the Employer at law or at equity, the parties hereto agree
that the Employer or any successor thereto, will have the right, at any and all
times, to seek injunctive relief in order to enforce the terms and conditions of
this Paragraph 8.

     If the scope of any restriction contained in this Paragraph 8 is too broad
to permit enforcement of such restriction to its fullest extent, then such
restriction will be enforced to the maximum extent permitted by law, and the
Executive hereby consents and agrees that such scope may be judicially modified
accordingly in any proceeding brought to enforce such restriction.

     9. INTELLECTUAL PROPERTY. The Executive agrees to communicate to the
Employer, promptly and fully, and to assign to the Employer all intellectual
property developed or conceived solely by the Executive, or jointly with others,
during the term of his employment, which are within the scope of either the
Employer 's business or an Affiliate's business, or which utilized Employer
materials or information. For purposes of this Agreement, "intellectual
property" means inventions, discoveries, business or technical innovations,
creative or professional work product, or works of authorship. The Executive
further agrees to execute all necessary papers and otherwise to assist the
Employer, at the Employer's sole expense, to obtain patents, copyrights or other
legal protection as the Employer deems fit. Any such intellectual property is to
be the property of the Employer whether or not patented, copyrighted or
published.

     10. ASSIGNMENT AND SURVIVORSHIP OF BENEFITS. The rights and obligations of
the Employer under this Agreement will inure to the benefit of, and will be
binding upon, the successors and assigns of the Employer. If the Employer shall
at any time be merged or consolidated into, or with, any other company, or if
substantially all of the assets of the Employer are transferred to another
company, then the provisions of this Agreement will be binding upon and inure to
the benefit of the company resulting from such merger or consolidation or to
which such assets have been transferred, and this provision will apply in the
event of any subsequent merger, consolidation, or transfer.

     11. NOTICES. Any notice given to either party to this Agreement will be in
writing, and will be deemed to have been given when delivered personally or sent
by certified mail,

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postage prepaid, return receipt requested, duly addressed to the party
concerned, at the address indicated below or to such changed address as such
party may subsequently give notice of:

                  If to the Employer:         AirNet Systems, Inc.
                                              7250 Star Check Drive
                                              Columbus, Ohio  43217

                  If to the Executive:        Bruce D. Parker
                                              At the last address on file
                                              with the Employer

     12. INDEMNIFICATION. The Executive shall be indemnified by the Employer to
the extent provided in the case of officers under the Employer's Articles of
Incorporation or Code of Regulations, to the maximum extent permitted under
applicable law. The Employer shall use commercially reasonable efforts to
continue its Director and Officer Liability Insurance ("DOL Insurance") under
substantially similar terms and in substantially similar amounts as in existence
prior to the termination of employment. The DOL Insurance shall be maintained
for at least seven (7) years from termination of employment and without limiting
the foregoing, the Executive shall not be excluded from coverage under such DOL
Insurance during such period.

     13. TAXES. Anything in this Agreement to the contrary notwithstanding, all
payments required to be made hereunder by the Employer to the Executive will be
subject to withholding of such amounts relating to taxes as the Employer may
reasonably determine that it should withhold pursuant to any applicable law or
regulations. In lieu of withholding such amounts, in whole or in part, however,
the Employer may, in its sole discretion, accept other provision for payment of
taxes, provided that it is satisfied that all requirements of the law affecting
its responsibilities to withhold such taxes have been satisfied.

     14. ARBITRATION; ENFORCEMENT OF RIGHTS. Any controversy or claim arising
out of, or relating to this Agreement, or the breach thereof, except with
respect to Paragraphs 8 and 9, will be settled by arbitration in the city of
Columbus, Ohio, in accordance with the Rules of the American Arbitration
Association, and judgment upon the award rendered by the arbitrator or
arbitrators may be entered in any court having jurisdiction thereof.

     All legal and other fees and expenses, including, without limitation, any
arbitration expenses, incurred by the Executive in connection with seeking in
good faith to obtain or enforce any right or benefit provided for in this
Agreement, or in otherwise pursuing any right or claim, will be paid by the
Employer, to the extent permitted by law, provided that the Executive is
successful in whole or in part as to such claims as the result of litigation,
arbitration, or settlement.

     In the event that the Employer refuses or otherwise fails to make a payment
when due and is ultimately decided that the Executive is entitled to such
payment, such payment will be increased to reflect an interest equivalent for
the period of delay, compounded annually, equal to the prime or base lending
rate used by Bank of America, N.A., and in effect as of the date the payment was
first due.

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     15. GOVERNING LAW/CAPTIONS/SEVERANCE. This Agreement will be construed in
accordance with, and pursuant to, the laws of the State of Ohio. The captions of
this Agreement will not be part of the provisions hereof, and will have no force
or effect. The invalidity or unenforceability of any provision of this Agreement
will not affect the validity or enforceability of any other provision of this
Agreement. Except as otherwise specifically provided in this paragraph, the
failure of either party to insist in any instance on the strict performance of
any provision of this Agreement or to exercise any right hereunder will not
constitute a waiver of such provision or right in any other instance.

     16. SECTION 409A. Notwithstanding any provision contained in this Agreement
to the contrary, in the event that any payment to be made to the Executive under
this Agreement is required to be delayed pursuant to the provisions of Section
409A of the Code, this Agreement shall be amended to comply with the applicable
requirements of Code Section 409A; provided, that any such amendment shall
require the prior written consent of Executive.

     17. ENTIRE AGREEMENT/AMENDMENT. This instrument contains the entire
agreement of the parties relating to the subject matter hereof, and the parties
have made no agreement, representations, or warranties relating to the subject
matter of this Agreement that are not set forth herein. This Agreement may be
amended only by mutual written agreement of the parties.

     IN WITNESS WHEREOF, the parties have executed this Agreement on the date
first above written.

                                       AIRNET SYSTEMS, INC.

                                       By:  /s/ James Ernest Riddle
                                            --------------------------

                                       ITS: Lead Director

                                            /s/ Bruce D. Parker
                                            --------------------------

                                       Date: December 28, 2006

                                       11Exhibit 4.3

                      BONSO ELECTRONICS INTERNATIONAL INC.

                              EMPLOYMENT AGREEMENT
                                      WITH
                                   ANTHONY SO

          This Employment Agreement is made and entered into effective this 1st
day of April, 2003, by and between Bonso Electronics International Inc., a
British Virgin Islands international business company (the "Company"), and
Anthony So, an individual ("Executive").

                                    RECITALS

          A. The Company desires to be assured of the association and services
of Executive for the Company.

          B. Executive is willing and desires to be employed by the Company, and
the Company is willing to employ Executive, upon the terms, covenants and
conditions hereinafter set forth.

                                    AGREEMENT

          NOW, THEREFORE, in consideration of the mutual terms, covenants and
conditions hereinafter set forth, the parties hereto agree as follows:

          1. Employment. The Company hereby employs Executive as its Chairman of
the Board of Directors, Chief Executive Officer and President.

          2. Term. The term of this Agreement shall be for a period of five (5)
years effective as of April 1, 2003, and ending on March 31, 2008 (the "Initial
Term"), unless terminated earlier pursuant to Section 6 below. This Agreement
shall be automatically renewed for successive one year periods (the "Renewal
Term") unless, at least 90 days prior to the expiration of the Initial Term or
any Renewal Term, either party gives written notice to the other party
specifically electing to terminate this Agreement at the end of the Initial Term
or any such Renewal Term.

          3. Compensation; Reimbursement.

          3.1 Base Salary. For all services rendered by Executive under this
Agreement, the Company shall pay Executive a base salary of Seven Hundred
Thousand United States Dollars (US$700,000) per year (the "Base Salary"). The
Base Salary shall be payable in equal, consecutive monthly installments. It is
expressly understood and agreed that the Base Salary may be increased upon the
approval of the Company's Compensation Committee (if such a committee exists) or
by a majority of the members of the Board of Directors.

          3.2 Bonus. In addition to the Base Salary and the Deferred
Compensation, the Company shall pay Executive such Bonus or Bonuses as the Board
of Directors shall determine in their sole discretion.

<PAGE>

          3.3 Additional Benefits. In addition to the Base Salary and the Bonus,
Executive shall be provided the exclusive use and possession of the property
located at Savanna Garden, House No. 27, Tai Po, New Territories, Hong Kong
("Savanna Garden House") without any cost or charge to the Executive. If the
Savanna Garden House is sold during the term of this Agreement or during any
period that Company is obligated to provide Executive or his family with the
exclusive use and possession of Savanna Garden House, then Company agrees to
provide Executive with the possession and use of a property in the Hong Kong
Special Administrative Region that is substantially identical to the Savanna
Garden House of Executive's choice (or if Executive is deceased his family's
choice). References to Savanna Garden House in the remainder of this paragraph
shall be deemed to mean the property that is substantially identical to the
Savanna Garden House referenced in the preceding sentence as the context may
require. Executive shall be provided the exclusive possession and use of the
Savanna Garden House for the term of this Agreement and for five years after
this Agreement has been terminated for any reason without any cost or charge to
the Executive. If Executive should die while in possession and use of the
Savanna Garden House, Executive's family shall be entitled to remain in
possession and use of the Savanna Garden House until the later of the period to
which Executive would have been entitled to possession and use or five years
after the date of Executive's death. The Company shall be responsible for and
shall pay all costs of upkeep and maintenance of the Savanna Garden House for so
long as Executive or his family are entitled to possession and use, including
but not limited to taxes, insurance, maintenance, repairs, and all costs
associated with living in the Savanna Garden housing estate. Company agrees to
take no action to convey any interest in or to the Savanna Garden House to any
party other than Executive or his family during any period that Executive or his
family is entitled to the possession and use of the Savanna Garden House.
Company shall provide Executive with an automobile of Executive's choice
("Automobile") for his or his family's exclusive use during the term of this
Agreement and for five years after this Agreement is terminated. Company shall
be responsible for all costs of taxes, licensing, insurance, repair,
maintenance, fuel, and upkeep of the Automobile during this period. Company
shall pay such fees, dues, assessments and costs for memberships and use of such
clubs as Executive shall desire to join or continue as a member during the term
of this Agreement and for the five year period after this Agreement is
terminated. Company agrees to transfer any or all club membership interests to
Executive or his family upon request by Executive or members of his immediate
family (if Executive is deceased) without any charge or cost to Executive or
members of his immediate family. Company shall pay and be responsible to pay for
any costs associated with the transfer of club memberships. In addition, as part
of his compensation Executive shall be entitled to all other benefits of
employment provided to the employees of the Company.

          3.4 Reimbursement. Executive shall be reimbursed for all reasonable
"out-of-pocket" business expenses for business travel and business entertainment
incurred in connection with the performance of his duties under this Agreement.
The reimbursement of Executive's business expenses shall be upon monthly
presentation to and approval by the Company of valid receipts and other
appropriate documentation for such expenses.

          4. Scope of Duties.

          4.1 Assignment of Duties. Executive shall have such duties as may be
assigned to him from time to time by the Company's Board of Directors
commensurate with his experience and responsibilities in the positions for which
he is employed pursuant to Section 1 above. Such duties shall be exercised
subject to the control and supervision of the Board of Directors of the Company.

          4.2 General Specification of Duties. Executive's duties shall include,
but not be limited to those duties that are generally associated with the
positions of Chairman of the Board of Directors, Chief Executive Officer and
President of a company similarly situated to the Company.

          The foregoing specifications are not intended as a complete
itemization of the duties which Executive shall perform and undertake on behalf
of the Company in satisfaction of his employment obligations under this
Agreement.

          4.3 Executive's Devotion of Time. Executive hereby agrees to devote
his full time abilities and energy to the faithful performance of the duties
assigned to him and to the promotion and forwarding of the business affairs of
the Company, and not to divert any business opportunities from the Company to
himself or to any other person or business entity.

                                      -2-

<PAGE>

          4.4 Conflicting Activities.

          (a) Executive may, during the Initial Term or any Renewal Term of this
Agreement, be engaged in other business activities without the prior consent of
the Board of Directors of the Company; provided, however, that Executive may not
compete directly with the Company. Further, nothing in this Agreement shall be
construed as preventing Executive from investing his personal assets in passive
investments in business entities which are not in competition with the Company
or its affiliates, or from pursuing business opportunities as permitted by
Section 4.4(b).

          (b) Executive hereby agrees to promote and develop all business
opportunities that come to his attention relating to current or anticipated
future business of the Company, in a manner consistent with the best interests
of the Company and with his duties under this Agreement. Should Executive
discover a business opportunity that does not relate to the current or
anticipated future business of the Company, he shall be free to pursue that
opportunity without first offering such opportunity to the Company. It is
expressly understood that in developing any business opportunity for himself;
such development may not in any material way conflict or interfere with the
duties owed by Executive to the Company under this Agreement. As used herein,
the term "business opportunity" shall not include business opportunities
involving investment in publicly traded stocks, bonds or other securities, or
other investments of a personal nature.

          5. Change of Control. If any time during the Initial Term or any
Renewal Term of this Agreement there is a change of control of the Company, as
defined below, and Executive's employment is terminated by the Company under
Section 6.1(a), (b), (c) or (d) within the greater of one (1) year following the
change of control or the remaining term of this Agreement (the "Change of
Control Date"), the Company shall pay to Executive (a) the balance of all
amounts due from the Change of Control Date until the end of the Initial Term,

                                      -3-

<PAGE>

including deferred compensation, due under this Agreement plus (b) an amount
equal to five times the sum of (i) his annual Base Salary as in effect on the
date of termination plus (ii) the amount of bonus paid in the prior year to
executive, and (c) any other amounts due to Executive under any other provision
of this Agreement. This amount shall be paid to Executive in one lump sum as
soon as practicable, but in no event later than one hundred twenty (120) days,
after the date that Executive's employment is terminated. In addition to the
lump sum payment referenced in the preceding sentence, the Company shall pay to
Executive any accrued and unpaid Bonuses as provided for in Section 3.2 at the
same time as the lump sum payment is made. For example, if the Change of Control
Date was April 1, 2003, the amount paid to would be equal to [$700,000 (Base
Salary) + $0.00 (Deferred Compensation)] X 5 (years remaining on contract)] +
[$700,000 (base salary) + $0.00 (deferred compensation) X 5] or an aggregate of
$7,000,000). In addition, Executive shall be entitled to the possession and use
of the Savanna Garden House until the end of the Initial Term or any additional
term plus five calendar years thereafter without cost or charge to the
Executive. The Company shall continue to pay and be responsible for the payment
of all taxes, insurance, repairs, maintenance, upkeep, or costs associated with
the Savanna Garden Housing estate.

          For purposes of this subsection, a Change of Control shall mean a
change in control of the Company of a nature that would be required to be
reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated
under the Securities Exchange Act of 1934, as amended ("Exchange Act"), whether
or not the Company is subject to such reporting requirement; provided, however,
that, anything in this Agreement to the contrary notwithstanding, a Change in
Control shall be deemed to have occurred if:

          (1) Any individual, partnership, firm, corporation, association,
          trust, unincorporated organization or other entity or person, or any
          syndicate or group deemed to be a person under Section 14(d)(2) of the
          Exchange Act, is or becomes the "beneficial owner" (as defined in Rule
          13d-3 of the General Rules and Regulations under the Exchange Act),
          directly or indirectly, of securities of the Company representing 30%
          or more of the combined voting power of the Company's then outstanding
          securities entitled to vote in the election of directors of the
          Company;

          (2) During any period of two (2) consecutive years (not including any
          period prior to the execution of this Agreement) individuals who at
          the beginning of such period constituted the Board and any new
          directors, whose election by the Board or nomination for election by
          the Company's stockholders was approved by a vote of at least a
          majority of the directors then still in office who either were
          directors at the beginning of the period or whose election or
          nomination for election was previously so approved, cease for any
          reason to constitute a majority thereof;

          (3) Within two years after a tender offer or exchange offer for voting
          securities of the Company, the individuals who were directors of the
          Company immediately prior thereto shall cease to constitute a majority
          of the Board;

          (4) There occurs a reorganization, merger, consolidation or other
          corporate transaction involving the Company (a "Transaction"), in each
          case, with respect to which the stockholders of the Company

                                      -4-

<PAGE>

          immediately prior to such Transaction do not, immediately after the
          Transaction, own more than 50 percent of the combined voting power of
          the Company or other corporation resulting from such Transaction; or

          (5) All or substantially all of the assets of the Company are sold,
          liquidated or distributed.

          6. Termination.

          6.1 Bases for Termination.

          (a) Executive's employment hereunder may be terminated at any time by
mutual agreement of the parties.

          (b) This Agreement shall automatically terminate on the last day of
the month in which Executive dies or becomes permanently incapacitated.
"Permanent incapacity" as used herein shall mean mental or physical incapacity,
or both, reasonably determined by the Company's Board of Directors based upon a
certification of such incapacity by, in the discretion of the Company's Board of
Directors, either Executive's regularly attending physician or a duly licensed
physician selected by the Company's Board of Directors, rendering Executive
unable to perform substantially all of his duties hereunder and which appears
reasonably certain to continue for at least six consecutive months without
substantial improvement. Executive shall be deemed to have "become permanently
incapacitated" on the date the Company's Board of Directors has determined that
Executive is permanently incapacitated and so notifies Executive. If Executive's
employment under this Agreement is terminated pursuant to this Section 6.1(b),
the Company shall (i) make a lump sum cash payment to Executive within 10 days
after termination is effective of an amount equal to (1) Executive's Base Salary
accrued to the date of termination; (2) unreimbursed expenses accrued to the
date of termination; and (3) any other amounts due to Executive under any other
provision of this Agreement. In addition, Company shall pay Executive or his
family (if Executive is deceased) an amount equal to Three times the Executive's
annual Base Salary within 60 days after termination is effective. For purposes
of this provision, Executive's annual Base Salary shall be calculated as of the
termination date. After the Company's termination of Executive under this
provision, the Company shall continue to be obligated to provide the benefits to
Executive described in Section 3.3.

          (c) Executive's employment may be terminated by the Company (for any
reason or no reason at all) at any time by giving Executive 180 days prior
written notice of termination, which termination shall be effective on the 180th
day following such notice. If Executive's employment under this Agreement is so
terminated, the Company shall (i) make a lump sum cash payment to Executive
within 10 days after termination is effective of an amount equal to (1)
Executive's Base Salary accrued to the date of termination; (2) unreimbursed
expenses accrued to the date of termination; (3) an amount equal to the greater
of (a) Five times the Executive's annual Base Salary (i.e., 60 months of Base
Salary), or (b) amounts remaining due to Executive as Base Salary (assuming that
payments under this Agreement were made until expiration of the Initial Term or
if applicable the Renewal Term), and (4) any other amounts due to Executive

                                      -5-

<PAGE>

under any other provision of this Agreement. For purposes of this provision,
Executive's annual Base Salary and the remaining portion of the term of the
Agreement shall be calculated as of the termination date. After the Company's
termination of Executive under this provision, the Company shall continue to be
obligated to provide the benefits to Executive described in Section 3.3. In
addition to the lump sum payment referenced in the preceding sentence, the
Company shall pay to Executive the Bonus provided for in Section 3.2 based upon
the number of days in the year that Executive was employed by the Company,
within one hundred five days after the end of the fiscal year in which Executive
was terminated.

          (d) Executive may terminate his employment hereunder by giving the
Company 60 days prior written notice, which termination shall be effective on
the 60th day following such notice.

          6.2 Payments Upon Termination Pursuant To Sections 6.1(a), or (d).
Upon termination under Sections 6.1(a), or (d), the Company shall pay to
Executive within 10 days after termination an amount equal to the sum of (1)
Executive's Base Salary accrued to the date of termination; (2) unreimbursed
expenses accrued to the date of termination, and (3) any other amounts due to
Executive under any other provision of this Agreement. Except for the foregoing
compensation then due and owing and the benefits provided for in Section 3.3,
the Company shall not be obligated to compensate Executive, his estate or
representatives after any such termination.

          7. Miscellaneous.

          7.1 Transfer and Assignment. This Agreement is personal as to
Executive and shall not be assigned or transferred by Executive without the
prior written consent of the Company. This Agreement shall be binding upon and
inure to the benefit of all of the parties hereto and their respective permitted
heirs, personal representatives, successors and assigns.

          7.2 Severability. Nothing contained herein shall be construed to
require the commission of any act contrary to law. Should there be any conflict
between any provisions hereof and any present or future statute, law, ordinance,
regulation or other pronouncement having the force of law, the latter shall
prevail, but the provision of this Agreement affected thereby shall be curtailed
and limited only to the extent necessary to bring it within the requirements of
the law, and the remaining provisions of this Agreement shall remain in full
force and effect.

          7.3 Governing Law. This Agreement is made under and shall be construed
pursuant to the laws of BVI.

          7.4 Counterparts. This Agreement may be executed in several
counterparts and all documents so executed shall constitute one agreement,
binding on all of the parties hereto, notwithstanding that all of the parties
did not sign the original or the same counterparts.

          7.5 Entire Agreement. This Agreement constitutes the entire agreement
and understanding of the parties with respect to the subject matter hereof and
supersedes all prior oral or written agreements, arrangements and understandings

                                      -6-

<PAGE>

with respect thereto. No representation, promise, inducement, statement or
intention has been made by any party hereto that is not embodied herein, and no
party shall be bound by or liable for any alleged representation, promise,
inducement or statement not so set forth herein.

          7.6 Modification. This Agreement may be modified, amended, superseded
or cancelled, and any of the terms, covenants, representations, warranties or
conditions hereof may be waived, only by a written instrument executed by the
party or parties to be bound by any such modification, amendment, supersession,
cancellation or waiver.

          7.7 Attorneys' Fees and Costs. In the event of any dispute arising out
of the subject matter of this Agreement, the prevailing party shall recover, in
addition to any other damages assessed, its attorneys' fees and court costs
incurred in litigating or otherwise settling or resolving such dispute whether
or not an action is brought or prosecuted to judgment. In construing this
Agreement, none of the parties hereto shall have any term or provision construed
against such party solely by reason of such party having drafted the same.

          7.8 Waiver. The waiver by either of the parties, express or implied,
of any right under this Agreement or any failure to perform under this Agreement
by the other party, shall not constitute or be deemed as a waiver of any other
right under this Agreement or of any other failure to perform under this
Agreement by the other party, whether of a similar or dissimilar nature.

          7.9 Cumulative Remedies. Each and all of the several rights and
remedies provided in this Agreement, or by law or in equity, shall be
cumulative, and no one of them shall be exclusive of any other right or remedy,
and the exercise of any one or such rights or remedies shall not be deemed a
waiver of, or an election to exercise, any other such right or remedy.

          7.10 Headings. The section and other headings contained in this
Agreement are for reference purposes only and shall not in any way affect the
meaning and interpretation of this Agreement.

          7.11 Notices. Any notice under this Agreement must be in writing, may
be telecopied provided that evidence of the transmission and receipt is created
at the time of transmission, sent by express 24-hour guaranteed courier, or
hand-delivered, or may be served by depositing the same in the United States
mail, addressed to the party to be notified, postage-prepaid and registered or
certified with a return receipt requested. The addresses of the parties for the
receipt of notice shall be as follows:

If to the Company:                  Bonso Electronics International, Inc.

If to Executive:                    Anthony So

Each notice given by registered or certified mail shall be deemed delivered and
effective on the date of delivery as shown on the return receipt, and each
notice delivered in any other manner shall be deemed to be effective as of the
time of actual delivery thereof. Each party may change its address for notice by
giving notice thereof in the manner provided above.

                                      -7-

<PAGE>

          7.12 Survival. Any provision of this Agreement which imposes an
obligation after termination or expiration of this Agreement shall survive the
termination or expiration of this Agreement and be binding on Executive and the
Company.

          7.13 Right of Set-Off. Upon termination or expiration of this
Agreement, the Company shall have the right to set-off against the amounts due
Executive hereunder the amount of any outstanding loan or advance from the
Company to Executive.

          7.14 Effective Date. This Agreement shall become effective as of the
date set forth on page 1 when signed by Executive and the Company.

          IN WITNESS WHEREOF, the parties hereto have caused this Employment
Agreement to be executed as of the date first set forth above.

ANTHONY SO                                BONSO ELECTRONICS INTERNATIONAL, INC.

/s/  Anthony So                              By:  /s/  Cathy Kit Teng Pang
-----------------------------------          -----------------------------------
                                             ____________, Director

                                      -8-

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