Document:

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                                                                    EXHIBIT 4.10

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                                     WARRANT

                           TO PURCHASE COMMON STOCK OF

                                  AVIALL, INC.

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                                                            Warrant No.
                                                                       -----

                                                           Original Issue
                                                           Date:         , 2002
                                                                ---------

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                                TABLE OF CONTENTS

<Table>
<S>      <C>                                                                                                     <C>
1.       DEFINITIONS..............................................................................................1
2.       EXERCISE OF WARRANT......................................................................................5
         2.1.     Manner of Exercise..............................................................................5
         2.2.     Issued Warrant Shares Fully Paid, Nonassessable; Reservation of Shares; Covenants...............6
         2.3.     Payment of Taxes................................................................................6
         2.4.     Fractional Shares...............................................................................6
3.       TRANSFER, DIVISION AND COMBINATION.......................................................................6
         3.1.     Transfer........................................................................................6
         3.2.     Division and Combination........................................................................6
         3.3.     Expenses........................................................................................7
         3.4.     Maintenance of Books............................................................................7
4.       ADJUSTMENT PROVISIONS....................................................................................7
         4.1.     Stock Dividends, Subdivisions and Combinations..................................................7
         4.2.     Adjustment of Number of Shares Purchasable......................................................7
         4.3.     Consolidation, Amalgamation, Arrangement or Merger..............................................8
         4.4.     Other Provisions Applicable to Adjustments Under this Section 4.................................8
5.       RESERVATION AND AUTHORIZATION OF COMMON STOCK............................................................9
6.       NOTICE OF CORPORATE ACTIONS; TRANSFER BOOKS..............................................................9
         6.1.     Notices of Corporate Actions....................................................................9
         6.2.     Closing of Transfer Books.......................................................................9
7.       TRANSFER RESTRICTIONS....................................................................................9
         7.1.     Restrictions on Transfers......................................................................10
         7.2.     Restrictive Legends............................................................................10
         7.3.     Termination of Securities Law Restrictions.....................................................10
         7.4.     Transfers to Affiliates........................................................................11
8.       LOSS OR MUTILATION......................................................................................11
9.       OFFICE OF THE COMPANY...................................................................................11
10.      NO VOTING OR DIVIDEND RIGHTS; LIMITATIONS OF LIABILITY..................................................11
11.      MISCELLANEOUS...........................................................................................11
         11.1.    Nonwaiver......................................................................................11
         11.2.    Notice Generally...............................................................................12
         11.3.    Successors and Assigns.........................................................................12
         11.4.    Amendment......................................................................................12
         11.5.    Severability...................................................................................12
         11.6.    Headings.......................................................................................12
         11.7.    Governing Law; Jurisdiction....................................................................12
         11.8.    Satisfaction of Securities Purchase Agreement..................................................12
         11.9.    Investment Invent..............................................................................12
         11.10.   Entire Agreement...............................................................................12
         11.11.   Due Authorization..............................................................................13
         11.12.   No Conflict....................................................................................13

EXHIBIT A         SUBSCRIPTION FORM
EXHIBIT B         ASSIGNMENT FORM
</Table>

                                       i

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NEITHER THE WARRANT REPRESENTED BY THIS CERTIFICATE NOR ANY OF THE SECURITIES
ISSUABLE UPON EXERCISE THEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAWS AND MAY NOT BE
TRANSFERRED UNLESS SO REGISTERED OR UNLESS AN EXEMPTION FROM REGISTRATION AND
SUCH STATE SECURITIES LAWS IS AVAILABLE.

                                                                Warrant No.
                                                                           ----

                                     WARRANT

                      TO PURCHASE SHARES OF COMMON STOCK OF

                                  AVIALL, INC.

         THIS IS TO CERTIFY THAT ____________________ ("Initial Holder"), or its
registered assigns, is entitled, at any time after March 15, 2002 until the
Expiration Date (the "Exercise Period"), to purchase from Aviall, Inc., a
Delaware corporation (the "Company"), an aggregate of _______________ duly
authorized, validly issued, fully paid and nonassessable shares of Common Stock
of the Company (subject to adjustment as provided herein), at a purchase price
of $.01 per share (the initial "Exercise Price", subject to adjustment as
provided herein), all on the terms and conditions and pursuant to the provisions
hereinafter set forth.

         1.       DEFINITIONS.

         As used in this Warrant, the following terms have the respective
meanings set forth below:

         "Adjustment Event" shall mean any event (other than a transaction to
which Section 4.1 applies) as a result of which the Series D Conversion Price is
adjusted pursuant to Section 5(g) of the Series D Certificate of Designations.
For the avoidance of doubt, each such adjustment (including any such adjustment
that results from giving effect to the provisions of Section 4) shall be deemed
a separate and distinct Adjustment Event subject to the provisions of Section 4.

         "Additional Preferred Common Shares" shall mean, with respect to any
Adjustment Event resulting in a decrease in the Series D Conversion Price, the
aggregate additional number of shares of Common Stock issuable upon conversion
of all outstanding Convertible Preferred Stock as a result of such Adjustment
Event, provided that Additional Preferred Common Shares shall not include any
such additional shares of Common Stock to the extent that the holders of
Convertible Preferred Stock entitled to receive such additional shares of Common
Stock have irrevocably agreed with the Company to waive their rights to such
additional shares of Common Stock and the Company has not compensated any such
holder of Convertible Preferred Stock principally for such waiver.

         "Affiliate" shall mean (i) with respect to any Person, any other Person
that directly or indirectly controls or manages, is controlled or managed by, or
is under common control or management with such Person, whether through the
ownership of equity interests, by contract or otherwise, and (ii) with respect
to an individual, in addition to any Person specified in clause (i), the spouse,
any parent or any child of such individual and any trust for the benefit of such
individual's spouse, parent or child.

                                       1
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         "Business Day" shall mean any day that is not a Saturday or Sunday or a
day on which banks are required or permitted to be closed in the city of New
York.

         "Carlyle" shall mean Carlyle Partners III, L.P., a Delaware limited
partnership, or any of its Affiliates.

         "Commission" shall mean the Securities and Exchange Commission or any
other federal agency then administering the Securities Act and other federal
securities laws.

         "Common Stock" shall mean (except where the context otherwise
indicates) the common stock of the Company, par value $.01 per share, and any
class of stock resulting from successive changes or reclassifications of such
Common Stock.

         "Company" shall have the meaning set forth in the preamble of this
Warrant.

         "Convertible Preferred Stock" shall mean the Series D Senior
Convertible Participating Preferred Stock of the Company, par value $.01 per
share, having the terms and conditions set forth in the Series D Certificate of
Designations.

         "Current Market Price" shall mean, for a share of Common Stock on any
date, the average Quoted Price for the three consecutive (3) Trading Days prior
to the date in question.

         "Designated Office" shall have the meaning set forth in Section 9
hereof.

         "Exercise Date" shall have the meaning set forth in Section 2.1 hereof.

         "Exercise Notice" shall have the meaning set forth in Section 2.1
hereof.

         "Exercise Period" shall have the meaning set forth in the preamble of
this Warrant.

         "Exercise Price" shall have the meaning set forth in the preamble of
this Warrant.

         "Expiration Date" shall mean the earlier to occur of (i) the date on
which no Warrants are outstanding or (ii) March 15, 2012.

         "GAAP" shall mean generally accepted accounting principles in the
United States of America as from time to time in effect.

         "Holder" shall mean (i) with respect to this Warrant, the Person in
whose name the Warrant set forth herein is registered on the books of the
Company maintained for such purpose and (ii) with respect to any other Warrant
or shares of Warrant Stock, the Person in whose name such Warrant or Warrant
Stock is registered on the books of the Company maintained for such purpose.

         "Initial Holder" shall have the meaning set forth in the preamble of
this Warrant.

                                       2
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         "Issuable Warrant Shares" shall mean, with respect to any Adjustment
Event, the aggregate number of shares of Common Stock issuable upon exercise of
this Warrant immediately prior to such Adjustment Event.

         "Letter Agreement" shall mean that certain Letter Agreement, dated as
of December 17, 2001, delivered by the Company to J. H. Whitney Mezzanine Fund,
L.P. and the other investors named therein.

         "Opinion of Counsel" shall mean a written opinion of counsel
experienced in Securities Act matters chosen by the Holder (and which may be
in-house counsel to such Holder) of this Warrant or Warrant Stock issued upon
the exercise hereof; provided, such opinion and opinion giver are reasonably
acceptable to the Company.

         "Original Issue Date" shall mean March 15, 2002.

         "Original Warrant" shall mean the Warrant originally issued by the
Company as of the Original Issue Date to the Initial Holder.

         "Person" shall mean any individual, sole proprietorship, partnership,
limited liability company, joint venture, trust, incorporated organization,
association, corporation, institution, public benefit corporation, entity or
government (whether federal, state, county, city, municipal or otherwise,
including, without limitation, any instrumentality, division, agency, body or
department thereof).

         "Preferred Common Shares" shall mean with respect to any Adjustment
Event, the aggregate number of shares of Common Stock issuable upon conversion
of all outstanding Convertible Preferred Stock immediately prior to such
Adjustment Event.

         "Quoted Price" shall mean, with respect to Common Stock, (i) the last
reported sales price of the Common Stock on the New York Stock Exchange or (ii)
if not listed on the New York Stock Exchange, the last reported sales price of
the Common Stock on such other principal exchange on which the Common Stock is
listed or admitted for trading or (iii) if not listed or admitted for trading on
a securities exchange, the last reported sales price for Common Stock as
reported by the National Association of Securities Dealers, Inc. Automatic
Quotations Systems - National Market System, or (iv) if not so reported or
listed or admitted for trading, the last reported bid price of the applicable
security in the over-the-counter market. In the event that the Quoted Price
cannot be determined as aforesaid, the Board of Directors of the Company shall
determine the Quoted Price on the basis of such quotations as it in good faith
considers appropriate. Such determination may be challenged in good faith by
holders of a majority of the shares of Common Stock issuable upon exercise of
all Warrants, and any dispute shall be resolved at the prevailing party's cost,
by the determination of an investment banking firm of recognized national
standing selected by the Company and acceptable to such holders of a majority of
the shares of Common Stock issuable upon exercise of all Warrants, which
determinations shall be made in good faith and be conclusive absent manifest
error.

         "Reduced Preferred Common Shares" shall mean, with respect to any
Adjustment Event resulting in an increase in the Series D Conversion Price, the
aggregate reduction in the number of shares issuable upon conversion of all
Convertible Preferred Stock as a result of such Adjustment Event.

                                       3
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         "Restricted Common Stock" shall mean shares of Common Stock which are,
or which upon their issuance on the exercise of this Warrant would be, evidenced
by a certificate bearing the restrictive legend set forth in Section 7.2(a)
hereof.

         "Securities Act" shall mean the Securities Act of 1933, as amended, or
any similar federal statute, and the rules and regulations of the Commission
thereunder, all as the same shall be in effect at the time.

         "Series D Conversion Price" shall mean the Conversion Price (as defined
in the Series D Certificate of Designations).

         "Series D Certificate of Designations" shall mean the Amended and
Restated Certificate of Designations of Series D Senior Convertible
Participating Preferred Stock of the Company as filed with the Secretary of
State of the State of Delaware on February 7, 2002, as amended from time to time
thereafter.

         "Securities Purchase Agreement" shall mean that certain Securities
Purchase Agreement, dated as of December 17, 2001, by and between the Company,
Aviall Services, Inc. and the investors named therein.

         "Trading Day" shall mean, with respect to any security, any day on
which any market in which the applicable security is then traded and in which
the Quoted Price may be ascertained, is open for business.

         "Transfer" shall mean any disposition of any Warrant or Warrant Stock
or of any interest in either thereof, which would constitute a "sale" thereof
within the meaning of the Securities Act.

         "Warrant Price" shall mean an amount equal to (i) the number of shares
of Common Stock being purchased upon exercise of this Warrant pursuant to
Section 2.1 hereof, multiplied by (ii) the Exercise Price as of the date of such
exercise.

         "Warrants" shall mean the Original Warrant and all warrants issued upon
transfer, division or combination of, or in substitution for, such Original
Warrant or any other such warrant.

         "Warrant Stock" generally shall mean the shares of Common Stock issued,
issuable or both (as the context may require) upon the exercise of this Warrant.

                                       4
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         2. EXERCISE OF WARRANT.

         2.1. Manner of Exercise. (a) During the Exercise Period, the Holder of
this Warrant may from time to time exercise this Warrant, on any Business Day,
for all or any part of the number of shares of Common Stock purchasable
hereunder. In order to exercise this Warrant, in whole or in part, the Holder
shall (i) deliver to the Company at the Designated Office a written notice of
the Holder's election to exercise this Warrant (an "Exercise Notice"), which
Exercise Notice shall be irrevocable and shall specify the number of shares of
Common Stock to be purchased, (ii) surrender to the Company at the Designated
Office this Warrant and (iii) pay to the Company the Warrant Price (the date on
which such delivery, surrender and payment shall have taken place being
hereinafter sometimes referred to as the "Exercise Date"). Such Exercise Notice
shall be in the form of the subscription form attached hereto as Exhibit A, duly
executed by the Holder or its duly authorized agent or attorney.

         (b) Upon receipt by the Company of such Exercise Notice, Warrant and
Warrant Price, the Company shall, as promptly as practicable, and in any event
within five (5) Business Days thereafter, execute (or cause to be executed) and
deliver (or cause to be delivered) to the Holder a certificate or certificates
representing the aggregate number of full shares of Common Stock issuable upon
such exercise, together with cash in lieu of any fraction of a share, as
hereinafter provided. The certificate or certificates so delivered shall be, to
the extent possible, in such denomination or denominations as the exercising
Holder shall reasonably request in the Exercise Notice and shall be registered
in the name of the Holder or such other name as shall be designated in the
Exercise Notice. This Warrant shall be deemed to have been exercised and such
certificate or certificates shall be deemed to have been issued, and the Holder
or any other Person so designated to be named therein shall be deemed to have
become a holder of record of such shares for all purposes, as of the Exercise
Date.

         (c) Payment of the Warrant Price may be made as follows (or by any
combination of the following): (i) in United States currency by cash or delivery
of a certified check, bank draft or postal or express money order payable to the
order of the Company, (ii) by surrendering to the Company for cancellation a
portion of the principal amount of the senior promissory note due December 21,
2007 of the Company held by the Holder (the "Note") or (at the election of the
Holder) accrued and unpaid interest thereon which is equal to the Warrant Price,
(iii) by surrender of a number of shares of Common Stock held by the Holder
equal to the quotient obtained by dividing (A) the Warrant Price payable with
respect to the portion of this Warrant then being exercised by (B) the Current
Market Price per share of Common Stock on the Exercise Date, or (iv) by
cancellation of any portion of this Warrant with respect to the number of shares
of Common Stock equal to the quotient obtained by dividing (A) the Warrant Price
payable with respect to the portion of this Warrant then being exercised by (B)
the difference between (1) the Current Market Price per share of Common Stock on
the Exercise Date, and (2) the Exercise Price per share of Common Stock.

         If, pursuant to clause (ii) above, less than the entire unpaid
principal amount of any Note shall be applied toward payment of the
consideration payable upon any exercise of this Warrant, the Holder thereof
shall surrender the Note and the Company shall (1) pay to the Holder the amount
of unpaid interest accrued to the date of surrender on the portion of the
principal amount of such Note which has been applied toward the Warrant Price,
such payment to be in the form of a certified or official bank check and (2)
issue a new Note representing the balance of the unpaid principal amount of the
Note so surrendered, payable to such Holder or as such Holder may otherwise
direct.

         (d) If this Warrant shall have been exercised in part, the Company
shall, at the time of delivery of the certificate or certificates representing
the shares of Common Stock being issued, deliver to the Holder

                                       5
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a new Warrant evidencing the rights of the Holder to purchase the unpurchased
shares of Common Stock called for by this Warrant. Such new Warrant shall in all
other respects be identical with this Warrant.

         2.2. Issued Warrant Shares Fully Paid, Nonassessable; Reservation of
Shares; Covenants. The Company shall take all actions reasonably necessary to
ensure that upon exercise of this Warrant, the shares of Common Stock issued
upon exercise hereof shall, without further action by the Holder, be duly
authorized, validly issued, fully paid and nonassessable and free from all
taxes, liens and charges with respect to the issue thereof.

         The Company shall not avoid or seek to avoid the observance or
performance of any of the terms of this Warrant, but will reasonably cooperate
in good faith with the Holder in the exercise of the Holder's rights hereunder.
Without limiting the generality of the foregoing, the Company will (i) not
increase the par value of its Common Stock, except in connection with a reverse
stock split, (ii) take all such action as may be reasonably necessary in order
that the Company may validly and legally issue fully paid and nonassessable
shares of Common Stock, free and clear of any liens, claims, encumbrances and
restrictions (other than as provided herein and restrictions under federal and
state securities laws) created by or through the Company with respect to such
issuance upon the exercise of this Warrant, and (iii) use its reasonable best
efforts to obtain all such authorizations, exemptions or consents from any
public regulatory body having jurisdiction thereof as may be necessary to enable
the Company to perform its obligations under this Warrant.

         2.3. Payment of Taxes. The Company shall pay all expenses, taxes and
charges in connection with the issue or delivery thereof, excluding Holder's
income or capital gains taxes with respect to the transaction.

         2.4. Fractional Shares. The Company shall not be required to issue a
fractional share of Common Stock upon exercise of this Warrant. As to any
fraction of a share that the Holder of this Warrant would otherwise be entitled
to purchase upon such exercise, the Company shall pay the Holder cash in lieu of
such fractional share in an amount equal to the same fraction of the Current
Market Price.

         3. TRANSFER, DIVISION AND COMBINATION.

         3.1. Transfer. Subject to compliance with Section 7 hereof, each
transfer of this Warrant and all rights hereunder, in whole or in part, shall be
registered on the books of the Company to be maintained for such purpose, upon
surrender of this Warrant at the Designated Office, together with delivery of a
written assignment of this Warrant in the form attached hereto as Exhibit B duly
executed by the Holder or its duly authorized agent or attorney. Upon such
surrender and delivery, the Company shall, subject to Section 7, execute and
deliver a new Warrant or Warrants in the name of the assignee or assignees and
in the denomination or denominations specified in such instrument of assignment,
and shall issue to the assignor a new Warrant evidencing the portion of this
Warrant not so assigned and this Warrant shall promptly be cancelled. A Warrant,
if properly assigned in compliance with Section 7, may be exercised by the new
Holder for the purchase of shares of Common Stock without having a new Warrant
issued.

         3.2. Division and Combination. Subject to compliance with the
applicable provisions of this Warrant, including Section 7 hereof, this Warrant
may be divided or combined with other Warrants upon surrender and presentation
hereof at the Designated Office, together with a written notice specifying the
names and denominations in which new Warrants are to be issued, signed by the
Holder duly authorized or its agent or attorney. Subject to compliance with the
applicable provisions of this Warrant as to any transfer which may be involved
in such division or combination, the Company shall execute and deliver a new
Warrant or Warrants in exchange for the Warrant or Warrants to be divided or
combined in accordance with such notice.

                                       6
<PAGE>

         3.3. Expenses. The Company shall prepare, issue and deliver at its own
expense any new Warrant or Warrants required to be issued under this Section 3.

         3.4. Maintenance of Books. The Company agrees to maintain, at the
Designated Office, books for the registration and transfer of the Warrants.

         4. ADJUSTMENT PROVISIONS.

         4.1. Stock Dividends, Subdivisions and Combinations. If at any time
after the date hereof the Company shall:

         (i) pay a dividend or makes a distribution on its Common Stock in
shares of its Common Stock;

         (ii) subdivide its outstanding shares of Common Stock into a greater
number of shares;

         (iii) combine its outstanding shares of Common Stock into a smaller
number of shares; or

         (iv) issue by reclassification of its Common Stock any shares of its
capital stock;

then the Exercise Price shall be adjusted to equal the product of the Exercise
Price in effect immediately prior to such event multiplied by a fraction, the
numerator of which is equal to the number of shares of Common Stock outstanding
immediately prior to the event and the denominator of which is equal to the
number of shares of Common Stock outstanding immediately after such event;
provided, however, in no event shall the Exercise Price be less than the par
value of a share of Common Stock. Such adjustment shall be made successively
whenever any event listed above shall occur.

         In addition, the number of shares for which this Warrant is exercisable
shall be adjusted so that the Holder of this Warrant thereafter may exercise
this Warrant for the same aggregate number and kind of shares of capital stock
of the Company that such Holder would have owned immediately following such
event if such Holder had exercised this Warrant immediately prior to such event.
The adjustment shall become effective immediately after the record date in the
case of a dividend or distribution and immediately after the effective date of a
subdivision, combination or reclassification.

         If, after an adjustment referred to in clauses (i) through (iv) above,
the Holder upon exercise of this Warrant may receive shares of two or more
classes of capital stock of the Company, the Company shall determine the
allocation of the Exercise Price between the classes of capital stock; provided,
however, in no event shall the Exercise Price be less than the par value of the
capital stock for which this Warrant is then exercisable. After such allocation,
the exercise rights and the Exercise Price with respect to each class of capital
stock shall thereafter be subject to adjustment on terms comparable to those
applicable to Common Stock in this Section 4.

         4.2. Adjustment of Number of Shares Purchasable. Upon each Adjustment
Event resulting in any decrease in the Series D Conversion Price, this Warrant
shall thereafter evidence the right to receive, at the Exercise Price, a number
of shares of Common Stock equal to the sum of (A) the number of Issuable Warrant
Shares, and (B) that number of shares of Common Stock (calculated to the nearest
one-hundredth) obtained by multiplying (x) the number of Issuable Warrant Shares
by (y) a fraction, the numerator of which equals the number of Additional
Preferred Common Shares and the denominator of which equals the number of
Preferred Common Shares.

                                       7
<PAGE>

         Upon each Adjustment Event resulting in any increase in the Series D
Conversion Price, this Warrant shall thereafter evidence the right to receive,
at the Exercise Price, a number of shares of Common Stock equal to (A) the
number of Issuable Warrant Shares, minus (B) that number of shares of Common
Stock (calculated to the nearest one-hundredth) obtained by multiplying (x) the
number of Issuable Warrant Shares by (y) a fraction, the numerator of which
equals the number of Reduced Preferred Common Shares and the denominator of
which equals the Preferred Common Shares. Notwithstanding anything to the
contrary herein, immediately upon transfer of this Warrant to a Person who is
not an Affiliate of the Initial Holder of this Warrant, the first sentence of
this Section 4.2 shall be of no further force or effect.

         4.3. Consolidation, Amalgamation, Arrangement or Merger. In case of any
consolidation, amalgamation, arrangement or merger of the Company with or into
another Person or any merger of another Person with or into the Company (other
than a transaction to which Section 4.1 applies), or in case of any sale or
transfer of all or substantially all of the assets of the Company, this Warrant
shall become exercisable only into the kind and amount of securities, cash and
other property receivable upon such consolidation, amalgamation, arrangement,
merger, sale or transfer by a holder of the number of shares of Common Stock
(and other securities, if applicable) for which this Warrant was exercisable
immediately prior thereto (assuming such holder of Common Stock (and other
securities, if applicable) failed to exercise any rights of election).
Concurrently with the consummation of such transaction, the corporation formed
by or surviving any such consolidation or merger if other than the Company, or
the person to which such sale or conveyance shall have been made, shall enter
into a supplemental agreement so providing and further providing for adjustments
which shall be as equivalent as may be practicable to the adjustments provided
for in this Section 4.

         4.4. Other Provisions Applicable to Adjustments Under this Section 4.
The following provisions shall be applicable to the adjustments provided for
pursuant to this Section 4:

         (a) When Adjustments To Be Made. The adjustments required by this
Section 4 shall be made whenever and as often as any specified event requiring
such an adjustment shall occur. For the purpose of any such adjustment, any
specified event shall be deemed to have occurred at the close of business on the
date of its occurrence. In computing the adjustments under this Section 4,
fractional interests in Common Stock shall be taken into account to the nearest
1/100th of a share.

         (b) When Adjustment Not Required. If the Company shall take a record of
the holders of its Common Stock for the purpose of entitling them to receive a
dividend or distribution to which the provisions of Section 4.1 would apply, but
shall, thereafter and before the distribution to stockholders thereof, legally
abandon its plan to pay or deliver such dividend or distribution, then
thereafter no adjustment shall be required by reason of the taking of such
record and any such adjustment previously made in respect thereof shall be
rescinded and annulled.

         (c) Notice of Adjustments. Whenever the Exercise Price or number of
shares issuable upon exercise of this Warrant is adjusted, the Company shall
promptly mail to the Holder, first class, postage paid, a notice

                                       8
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of the adjustment and a certificate from the Company's public accountants
briefly stating the facts requiring the adjustment and the manner of computing
it. The Company shall keep at its principal office or at the Designated Office,
if different, copies of all such certificates and cause the same to be available
for inspection at said office during normal business hours by any Holder or any
prospective transferee of a Warrant designated by a Holder thereof.

         Except as provided in the immediately following sentence, any
determination that the Company or its Board of Directors must make pursuant to
this Section 4 shall be conclusive. Whenever the Company or its Board of
Directors shall be required to make a determination under this Section 4, such
determination shall be made in good faith and may be challenged in good faith by
the Holder and any dispute shall be resolved, at the prevailing party's expense,
by an investment banking firm of recognized national standing, selected by the
Company and acceptable to such Holder.

         (d) Dividends. If the Company shall make or pay any dividend or other
distribution, whether in cash, securities or other property (other than
dividends and distributions to which Sections 4.1 or 4.2 applies), with respect
to its Common Stock, the Company shall concurrently make a payment to the Holder
of this Warrant equal to the amount of cash, securities or property that would
have been payable to such Holder had such Holder exercised its Warrant for
Common Stock on the record date for such dividend or distribution or if no such
record is taken, on the date of such dividend or distribution and appropriate
provision therefor shall be made a part of any such dividend or distribution.

         5. RESERVATION AND AUTHORIZATION OF COMMON STOCK.

         From and after the Original Issue Date, the Company shall at all times
reserve and keep available for issuance upon the exercise of the Warrants such
number of its authorized but unissued shares of Common Stock as will be
sufficient to permit the exercise in full of all Warrants. All shares of Common
Stock issuable upon the exercise of the Warrants shall be fully paid and
nonassessable, not subject to preemptive rights and shall be free and clear of
all liens (other than any created by actions of the Holder).

         6. NOTICE OF CORPORATE ACTIONS; TRANSFER BOOKS.

         6.1. Notices of Corporate Actions. In the event of (a) any taking by
the Company of a record of the holders of any class of securities for the
purpose of determining the holders thereof who are entitled to receive any
dividend or distribution, (b) any capital reorganization of the Company
(including any transaction specified in Section 4.1), any reclassification or
recapitalization of the capital stock of the Company or any consolidation or
merger involving the Company and any other Person or any transfer or other
disposition of all or substantially all the assets of the Company to another
Person or (c) any voluntary or involuntary dissolution, liquidation or winding
up of the Company, the Company shall provide not less than twenty (20) days
prior notice of such event described in clauses (a), (b) and (c) in accordance
with Section 11.2.

         6.2 Closing of Transfer Books. The Company shall not at any time,
except upon dissolution, liquidation or winding up of the Company, close its
stock transfer books or Warrant transfer books so as to result in preventing or
delaying the exercise or transfer of any Warrant.

         7. TRANSFER RESTRICTIONS.

         The Holder, by acceptance of this Warrant, agrees to be bound by the
provisions of this Section 7.

                                       9
<PAGE>

         7.1. Restrictions on Transfers. Neither this Warrant nor any shares of
Restricted Common Stock issued upon the exercise hereof shall be Transferred
other than pursuant to (i) an effective registration statement under the
Securities Act or (ii) an exemption from the registration provisions thereof. If
requested by the Company, the Holder will deliver an Opinion of Counsel to the
effect that a proposed transfer pursuant to clause (ii) of the preceding
sentence (other than a transfer described in Section 7.4) is exempt from the
registration requirements of the Securities Act.

         7.2. Restrictive Legends. (a) Except as otherwise provided in this
Section 7, each certificate for Warrant Stock initially issued upon the exercise
of this Warrant, and each certificate for Warrant Stock issued to any subsequent
transferee of any such certificate, shall be stamped or otherwise imprinted with
a legend in substantially the following form:

         "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
         UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE
         SECURITIES LAWS. NO TRANSFER OF THE SHARES REPRESENTED BY THIS
         CERTIFICATE SHALL BE VALID OR EFFECTIVE UNLESS SUCH TRANSFER IS MADE
         PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR THE
         COMPANY HAS RECEIVED AN OPINION OF COUNSEL (AS DEFINED IN THAT CERTAIN
         WARRANT FOR COMMON STOCK DATED MARCH 15, 2002) OR OTHER MEANS
         SATISFACTORY TO THE COMPANY, THAT SUCH PROPOSED TRANSFER IS EXEMPT FROM
         THE REGISTRATION REQUIREMENTS OF THE ACT AND IS IN COMPLIANCE WITH
         STATE SECURITIES LAWS."

         (b) Except as otherwise provided in this Section 7, each Warrant shall
be stamped or otherwise imprinted with a legend in substantially the following
form:

         "NEITHER THE WARRANTS REPRESENTED BY THIS CERTIFICATE NOR ANY OF THE
         SECURITIES ISSUABLE UPON EXERCISE THEREOF HAVE BEEN REGISTERED UNDER
         THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE
         SECURITIES LAWS AND MAY NOT BE TRANSFERRED UNLESS SO REGISTERED OR
         UNLESS AN EXEMPTION FROM REGISTRATION AND SUCH STATE SECURITIES LAWS IS
         AVAILABLE."

         7.3. Termination of Securities Law Restrictions. Notwithstanding the
foregoing provisions of this Section 7, the restrictions imposed by Section 7.1
upon the transferability of the Warrants and the Restricted Common Stock and the
legend requirements of Section 7.2 shall terminate as to any particular Warrant
or shares of Restricted Common Stock if (i) the Company shall have received from
the Holder thereof an Opinion of Counsel to the effect that such legend is not
required in order to ensure compliance with the Securities Act or (ii) such
Warrant or shares of Restricted Common Stock shall be registered by the Company.
Whenever the restrictions imposed by Section 7.2 shall terminate as to this
Warrant, as hereinabove provided, the Holder hereof shall be entitled to receive
from the Company, at the expense of the Company, a new Warrant bearing the
following legend in place of the restrictive legend set forth hereon:

         "THE RESTRICTIONS ON TRANSFERABILITY OF THE WITHIN WARRANT CONTAINED IN
         SECTION 7 HEREOF TERMINATED ON ______________, ____, AND ARE OF NO
         FURTHER FORCE AND EFFECT."

All Warrants issued upon registration of transfer, division or combination of,
or in substitution for, any Warrant or Warrants entitled to bear such legend
shall have a similar legend endorsed thereon. Wherever the

                                       10
<PAGE>

restrictions imposed by this Section shall terminate as to any share of
Restricted Common Stock, as hereinabove provided, the Holder thereof shall be
entitled to receive from the Company, at the Company's expense, a new
certificate representing such Common Stock not bearing the restrictive legends.

         7.4. Transfers to Affiliates. Notwithstanding anything contained herein
to the contrary, the Holders shall have the right at any time, without
restriction of any kind, to transfer all or any portion of the Warrants and the
Warrant Stock to any Affiliate; provided, however, that any such Affiliate
agrees to be bound by the provisions of this Section 7.

         8. LOSS OR MUTILATION.

         Upon receipt by the Company from any Holder of evidence reasonably
satisfactory to the Company of the ownership of and the loss, theft, destruction
or mutilation of this Warrant, and, in the case of such loss, theft, or
destruction of this Warrant, an indemnity bond or agreement reasonably
satisfactory to the Company or, in case of mutilation, upon surrender and
cancellation of this Warrant, the Company will execute and deliver in lieu
hereof a new Warrant of like tenor to such Holder; provided, however, in the
case of mutilation, no indemnity shall be required if this Warrant in
identifiable form is surrendered to the Company for cancellation.

         9. OFFICE OF THE COMPANY.

         As long as any of the Warrants remain outstanding, the Company shall
maintain an office or agency, which may be the principal executive offices of
the Company (the "Designated Office"), where the Warrants may be presented for
exercise, registration of transfer, division or combination as provided in this
Warrant. Such Designated Office shall initially be the office of the Company at
2750 Regent Boulevard, DFW Airport, TX 75261. The Company may from time to time
change the Designated Office to another office of the Company or its agent
within the United States by notice given to all registered holders of Warrants
at least ten (10) Business Days prior to the effective date of such change.

         10. NO VOTING OR DIVIDEND RIGHTS; LIMITATIONS OF LIABILITY.

         This Warrant shall not be construed as conferring upon the Holder the
right to vote or to execute written consents as a stockholder of the Company.
Except as expressly provided herein, this Warrant shall not be construed as
conferring upon the Holder the right to notice as a stockholder of the Company
or any other matters or rights whatsoever as a stockholder of the Company.
Except as expressly provided herein, no dividends or interest shall be payable
or accrued in respect of this Warrant or the rights represented hereby or the
shares purchasable hereunder until, and only to the extent that, shares of
Common Stock have been issued to the Holder pursuant to the exercise of this
Warrant. No provisions hereof, in the absence of affirmative action by the
Holder to purchase shares of Common Stock, and no mere enumeration herein of the
rights or privileges of the Holder, shall give rise to any liability of such
Holder for the Exercise Price for any Warrant Stock or as a stockholder of the
Company, whether such liability is asserted by the Company or its creditors.

         11. MISCELLANEOUS.

         11.1. Nonwaiver. No course of dealing or any delay or failure to
exercise any right hereunder on the part of the Company or the Holder shall
operate as a waiver of such right or otherwise prejudice the rights, powers or
remedies of such Person.

                                       11
<PAGE>

         11.2. Notice Generally. Any notice, demand, request, consent, approval,
declaration, delivery or communication hereunder to be made pursuant to the
provisions of this Warrant shall be delivered or sent by registered or certified
mail, postage prepaid, to any Holder of this Warrant, at its last known address
appearing on the books of the Company maintained for such purpose, or to the
Company at its Designated Office.

         11.3. Successors and Assigns. Subject to the provisions of Sections
3.1, 7.1 and 7.2, this Warrant and the rights evidenced hereby shall inure to
the benefit of and be binding upon the successors of the Company and the
permitted successors and assigns of the Holder hereof.

         11.4. Amendment. This Warrant may be modified or amended or the
provisions hereof waived with the written consent of the Company and the Holder
thereof.

         11.5. Severability. Wherever possible, each provision of this Warrant
shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Warrant shall be prohibited by or
invalid under applicable law, such provision shall be ineffective to the extent
of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Warrant.

         11.6. Headings. The headings used in this Warrant are for the
convenience of reference only and shall not, for any purpose, be deemed a part
of this Warrant.

         11.7. Governing Law; Jurisdiction. In all respects, including all
matters of construction, validity and performance, this Warrant and the
obligations arising hereunder shall be governed by, and construed and enforced
in accordance with, the laws of the state of New York. The Company hereby
consents and agrees that the state or federal courts located in New York, shall
have exclusive jurisdiction to hear and determine any claims or disputes between
the Company and the Holder of this Warrant pertaining to this Warrant or to any
matter arising out of or relating to this Warrant.

         11.8. Satisfaction of Securities Purchase Agreement. The parties to
this Warrant acknowledge and agree that the Initial Holder elected to receive
this Warrant in lieu of receiving shares of Common Stock pursuant to the terms
of the Securities Purchase Agreement and the Letter Agreement and that the
issuance of this Warrant is in complete satisfaction of the Company's
obligations to deliver Mezzanine Equity (as defined in the Securities Purchase
Agreement) to the Initial Holder pursuant to the terms of the Securities
Purchase Agreement.

         11.9. Investment Intent. The Holder hereby represents and warrants that
this Warrant and the shares of Common Stock issued or issuable upon the exercise
of this Warrant are being or will be acquired for the Holder's account and with
no intention of distributing or reselling such Warrant or shares of Common Stock
or any part thereof in any transaction that would be in violation of the
Securities Act or any state securities laws, without prejudice, however, to the
Holder's right at all times to sell or otherwise dispose of all or any part of
(i) the shares of Common Stock issued upon the exercise of this Warrant, under
an effective registration statement under the Securities Act, or (ii) the shares
of Common Stock issued upon the exercise of this Warrant or the Warrant under an
exemption from such registration available under the Securities Act, and
subject, nevertheless, to the disposition of its property being at all times
within its control.

         11.10. Entire Agreement. This Warrant, including all exhibits attached
hereto, constitute the entire agreement among the parties pertaining to the
subject matter hereof and supersedes all prior agreements, understandings,
negotiations and discussions, whether oral or written, of the parties.

                                       12
<PAGE>

         11.11. Due Authorization. The execution and delivery by the Company of
this Warrant, and the consummation by it of the transactions contemplated
hereby, have been duly authorized by all necessary corporate action of the
Company. This Warrant has been duly executed and delivered and constitutes a
valid and binding obligation of the Company, enforceable against the Company in
accordance with its terms, except that such enforceability may be limited by (i)
applicable bankruptcy, insolvency, reorganization, moratorium and similar laws
relating to or affecting creditors' rights generally, and (ii) general equitable
principles (regardless of whether such enforceability is considered in a
proceeding in equity or at law).

         11.12. No Conflict. The execution and delivery by the Company of this
Warrant and the performance by it of the transactions contemplated hereby do not
and will not (i) conflict with or result in a violation of any provision of the
Company's Restated Certificate of Incorporation or Amended and Restated By-laws,
(ii) conflict with or result in a violation of any provision of, or constitute a
default or event of default under any material contract to which the Company is
a party, except where such violation, default or event of default would not have
a material adverse effect on the Company or the Holder's rights hereunder or
(iii) violate any applicable law, except where such violation would not have a
material adverse effect on the Company or the Holder's rights hereunder.

                                 * * * * * * * *

                                       13
<PAGE>

                  IN WITNESS WHEREOF, the Company has caused this Warrant to be
duly executed and its corporate seal to be impressed hereon and attested by its
Secretary or an Assistant Secretary.

                                               AVIALL, INC.

                                               By:
                                                   ----------------------------
                                                   Name:
                                                   Title:

[SEAL]

Attest:

By:
   ----------------------------
   Name:
   Title:

                                       14<PAGE>
                                                                    EXHIBIT 4.11

                                                                  EXECUTION COPY

               AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

                  AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this
"AGREEMENT"), dated as of March 15, 2002 by and among AVIALL, INC. (the
"COMPANY"), a Delaware corporation, J. H. Whitney Mezzanine Fund, L.P. ("WMF"),
a Delaware limited partnership, Whitney Private Debt Fund, L.P. ("WHITNEY DF"),
a Delaware limited partnership, Whitney Limited Partner Holdings, LLC, a
Delaware limited liability company ("WHITNEY LLC" and together with WMF and
Whitney DF, the "WHITNEY FUNDS"), Blackstone Mezzanine Partners L.P.
("BLACKSTONE PARTNERS"), a Delaware limited partnership, Blackstone Mezzanine
Holdings L.P. ("BLACKSTONE HOLDINGS" and together with Blackstone Partners
"BLACKSTONE"), a Delaware limited partnership, Carlyle High Yield Partners, L.P.
a Delaware limited partnership ("CARLYLE") and Oak Hill Securities Fund, L.P., a
Delaware limited partnership, Oak Hill Securities Fund II, L.P., a Delaware
limited partnership, Lerner Enterprises, L.P. and P & PK Family Limited
Partnership (collectively, "OAK HILL"). The Whitney Funds, Blackstone, Carlyle
and Oak Hill are sometimes referred to herein individually, as a "PURCHASER" and
collectively, as the "PURCHASERS."

                                   WITNESSETH:

                  WHEREAS, pursuant to the terms of the Securities Purchase
Agreement (the "PURCHASE AGREEMENT"), dated as of December 17, 2001, by and
among the Company, Aviall Services, Inc. and the Purchasers, and as a condition
precedent to the Purchasers consummating the transactions in the Purchase
Agreement, the Company was required to duly execute and deliver that certain
Registration Rights Agreement by and among the Company, Aviall Services, Inc.
and the Purchasers (the "REGISTRATION RIGHTS AGREEMENT") dated as of December
21, 2001; and

                  WHEREAS, pursuant to the Registration Rights Agreement the
Company and the other parties thereto agreed to provide for the circumstances
under which the Company will register securities of the Company on behalf of
such other parties; and

                  WHEREAS, as an inducement to the Purchasers to consummate the
transactions contemplated by the Purchase Agreement and in consideration of the
premises and of the mutual covenants and obligations set forth therein, the
Company made covenants and agreed to the provisions of the Registration Rights
Agreement with the parties thereto, and with each subsequent holder of
Restricted Stock (as defined in the Registration Rights Agreement); and

                  WHEREAS, pursuant to a side-letter dated as of December 17,
2001 (the "SIDE LETTER") certain Holders (as such term is defined in the
Registration Rights Agreement) have elected to take Warrants (as such term is
defined herein) in lieu of Mezzanine Equity (as such term is defined in the
Purchase Agreement).

                  NOW THEREFORE, the parties to the Registration Rights
Agreement hereby agree to amend and restate the Registration Rights Agreement as
provided herein.

                  SECTION 1. DEFINITIONS. As used herein, the following terms
shall have the following respective meanings:

<PAGE>

                  "CARLYLE REGISTRATION RIGHTS AGREEMENT" shall mean that
certain Registration Rights Agreement dated as of December 21, 2001, by and
among the Company, Carlyle Partners III, L.P. and the other Purchasers
identified therein.

                  "CERTIFICATE OF INCORPORATION" shall mean the Certificate of
Incorporation of the Company, as amended, in effect on the date hereof.

                  "COMMISSION" shall mean the Securities and Exchange
Commission, or any other Federal agency at the time administering the Securities
Act.

                  "COMMON STOCK" means the common stock, par value $.01 per
share, of the Company.

                  "HOLDER" shall mean each Purchaser, for so long as it holds
any Common Stock or Warrant, and each of its successors, assigns and direct and
indirect transferees who become owners of the Common Stock or any Warrant.

                  "PARITY STOCK" shall mean the Registrable Securities (as
defined in the Carlyle Registration Rights Agreement).

                  "PURCHASERS" shall have the meaning ascribed to such term in
the first paragraph of this Agreement.

                  "REGISTRATION EXPENSES" shall mean the expenses so described
in Section 7 hereof.

                  "RESTRICTED STOCK" shall mean the shares of Common Stock
issued or issuable to the Holders upon exercise of the Warrants, the
certificates for which are required to bear the legend set forth in Section 2
hereof, provided, however, a share of Common Stock is no longer Restricted Stock
if (i) it has been sold pursuant to a registration statement or (ii) it is
eligible for resale under Rule 144(k) promulgated under the Securities Act. For
the avoidance of doubt, any reference in this Agreement to Restricted Stock held
by a Holder, shall include any and all shares of Common Stock issuable upon the
exercise of any Warrant held by such Holder.

                  "SECURITIES ACT" shall mean the Securities Act of 1933, as
amended, or any similar Federal statute, and the rules and regulations of the
Commission thereunder, all as the same shall be in effect at the time.

                  "SELLING EXPENSES" shall mean the expenses so described in
Section 7 hereof.

                  "THRESHOLD AMOUNT" shall mean those Holders holding at least
30% of the Restricted Stock then outstanding or issuable upon exercise of all
outstanding Warrants.

                  "WARRANTS" shall mean the warrants to purchase shares of
Common Stock issued to Holders as contemplated by the Side Letter.

                  SECTION 2. RESTRICTIVE LEGEND. Each certificate representing
the Restricted Stock and, except as otherwise provided in Section 3 hereof, each
certificate issued upon exchange or transfer of any such securities shall be
stamped or otherwise imprinted with a legend substantially in the following
form:

<PAGE>

                  "THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933 NOR UNDER APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE SOLD,
TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS IT HAS BEEN REGISTERED UNDER SUCH
LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE."

                  SECTION 3. NOTICE OF PROPOSED TRANSFER. Prior to any proposed
transfer of any Restricted Stock (other than under the circumstances described
in Section 4 or 5 hereof), the holder thereof shall give written notice to the
Company of its intention to effect such transfer. Each such notice shall
describe the manner of the proposed transfer and, if requested by the Company,
shall be accompanied by an opinion of counsel reasonably satisfactory to the
Company to the effect that the proposed transfer may be effected without
registration under the Securities Act, whereupon such holder shall be entitled
to transfer such securities in accordance with the terms of its notice;
provided, however, that no such opinion of counsel shall be required for a
transfer by a holder of Restricted Stock which is a partnership to a partner or
employee of such holder or a retired partner or retired employee of such holder
who retires after the date hereof, or to the estate of any such partner, retired
partner, employee or retired employee, or a transfer by gift, will or intestate
succession from any holder of Restricted Stock to his or her spouse or members
of his or her or his or her spouse's family or a trust for the benefit of any of
the foregoing persons, if the transferee agrees in writing to be subject to the
terms hereof to the same extent as if such transferee were an original holder of
Restricted Stock hereunder. All Restricted Stock transferred as above provided
shall bear the legend set forth in Section 2, except that such securities shall
not bear such legend if (i) such transfer is in accordance with the provisions
of Rule 144 of the Securities Act (or any other rule permitting public sale
without registration under the Securities Act) or (ii) the opinion of counsel
referred to above is to the further effect that the transferee and any
subsequent transferee (other than an affiliate of the Company) would be entitled
to transfer such securities in a public sale without registration under the
Securities Act.

                  SECTION 4. REQUIRED REGISTRATION.

                          (a) A Threshold Amount of Holders may, by written
         notice, request that the Company register under the Securities Act all
         or any portion of the shares of Restricted Stock held by such
         requesting Holders for sale in the manner specified in such notice;
         provided, however, that the Company shall not be obligated to register
         Restricted Stock pursuant to such request: (i) unless at the time of
         such request, all of the requesting Holders shall hold (or would hold,
         upon exercise of any Warrants held by them) in the aggregate 2.0% or
         more of all outstanding shares of Common Stock on a fully diluted
         basis; (ii) in any particular jurisdiction in which the Company would
         be required to qualify to do business or to execute a general consent
         to service of process in effecting such registration when it was not
         then so qualified and had not filed such a consent; (iii) if counsel to
         the Company opines to the requesting Holders that the filing of such a
         registration statement would require the disclosure of material
         non-public information about the Company, the disclosure of which could
         have a material adverse effect on the business or financial condition
         of the Company, in which event no such registration statement shall be
         filed until the later of the lapse of 30 days from the issuance of the
         opinion of Company counsel or the issuance of a subsequent opinion that
         such information is no longer required to be disclosed, is not material
         or non-public, or its disclosure would not have a material adverse
         effect on the business or financial condition of the Company; provided,
         however, that the Company may not exercise its right under this clause
         (iv) more than twice in any 12-month period; or (v) the proposed
         aggregate public offering price of the securities is less than
         $4,000,000.

                          (b) Promptly following receipt of any notice under
         this Section 4, the Company shall promptly give written notice to all
         other Holders from whom notice has not been received and shall file and
         use its commercially reasonable best efforts to have declared effective

<PAGE>

         by the Commission a registration statement under the Securities Act for
         the public sale, in accordance with the method of disposition specified
         in such notice from requesting holders, of the number of shares of
         Restricted Stock specified in such notice (and in any notices received
         from other Holders of Restricted Stock within 20 days after the date of
         such notice from the Company). If such method of disposition shall be
         an underwritten public offering, the Company may designate the managing
         underwriter of such offering, subject to the approval of the Holders
         participating in such registration who own a majority in interest of
         the Restricted Stock requested to be included in such registration by
         such Holders, which approval shall not be unreasonably withheld. The
         number of shares of Restricted Stock to be included in such an
         underwriting shall be reduced (pro rata among all Holders requesting
         such registration, under this Section 4, to participate in such
         registration based upon the number of shares of Restricted Stock owned
         by such Holders) if and to the extent that the managing underwriter
         shall be of the opinion that such inclusion would adversely affect the
         marketing of the securities to be sold therein. For purposes of making
         any such reduction, each Holder of Restricted Stock which is a
         partnership, together with the affiliates, partners, employees, retired
         partners and retired employees of such Holder, the estates and family
         members of any such partners, employees, retired partners and retired
         employees and of their spouses, and any trusts for the benefit of any
         of the foregoing persons shall be deemed to be a single "person", and
         any pro rata reduction with respect to such "person" shall be based
         upon the aggregate number of shares of Restricted Stock owned by all
         entities and individuals included as such "person," as defined in this
         sentence (and the aggregate number so allocated to such "person" shall
         be allocated among the entities and individuals included in such
         "person" in such manner as such holder of Restricted Stock may
         reasonably determine). The Company shall be obligated to register
         Restricted Stock pursuant to requests made by a Threshold Amount of
         Holders under this Section 4 on two occasions only (subject to
         reduction under Section 5(b) below); provided, however, that the
         Company's obligation as to such occasion shall be deemed satisfied only
         when a registration statement covering all shares of Restricted Stock
         specified in the notices received as aforesaid, for sale in accordance
         with the method of disposition specified by the requesting holders,
         shall have become effective and, if such method of disposition is a
         firm commitment underwritten public offering, all such shares shall
         have been sold pursuant thereto.

                          (c) The Company shall be entitled to include in any
         registration statement referred to in this Section 4 for which the
         method of distribution is an underwritten public offering, for sale in
         accordance with the method of disposition specified by the requesting
         holders, shares of Common Stock to be sold by the Company for its own
         account, except as and to the extent that, in the opinion of the
         managing underwriter, such inclusion would adversely affect the
         marketing of the Restricted Stock to be sold. Except as set forth in
         this Section 4, no securities shall be included in any registration
         statement referred to in this Section 4 without the prior written
         consent of the holders of a majority in interest of the Holders'
         Restricted Stock to be included in such registration. Except with
         respect to registration statements on Forms S-8 and S-4, the Company
         will not file with the Commission any other registration statement with
         respect to its Common Stock (other than any Registration Statement
         filed pursuant to the Carlyle Registration Rights Agreement) whether
         for its own account or that of other stockholders, from the date of
         receipt of a notice from requesting holders pursuant to this Section 4
         until the date that is 120 days after the effective date of the
         registration statement filed by the Company pursuant to this Section 4.

                  SECTION 5. INCIDENTAL REGISTRATION; FORM S-3 REGISTRATION.

                           (a) If the Company at any time (other than pursuant
         to Section 4 hereof and other than pursuant to the Carlyle Registration
         Rights Agreement) proposes to register any of

<PAGE>

         its securities for cash under the Securities Act for sale to the
         public, whether for its own account or for the account of other
         security holders or both (except with respect to registration
         statements on Form S-4 and Form S-8, any successor form thereto, or
         another form not available for registering Restricted Stock for sale to
         the public), each such time it will give written notice to all Holders
         of its intention to do so. Upon the written request of any such Holder,
         given within 20 days after the date of any such notice, to register any
         of its Restricted Stock, the Company will use its commercially
         reasonable efforts to cause the Restricted Stock as to which
         registration shall have been so requested to be included in the
         securities to be covered by the registration statement proposed to be
         filed by the Company, all to the extent requisite to permit the sale or
         other disposition by the Holder (in accordance with its written
         request) of such Restricted Stock so registered. The Company may
         withdraw any such registration statement before it becomes effective or
         postpone the offering of securities contemplated by such registration
         statement without any obligation to any Holder. In the event that any
         registration pursuant to this Section 5 shall be, in whole or in part,
         an underwritten public offering of Common Stock, such Restricted Stock
         shall be included in the underwriting on the same terms and conditions
         as the shares of Common Stock otherwise being sold through underwriters
         under such registration. The number of shares of Restricted Stock to be
         included in registration for the account of the Company may be reduced
         (pro rata among the requesting Holders and any holders of Parity Stock
         requesting such registration) if and to the extent that the managing
         underwriter shall be of the opinion that such inclusion would adversely
         affect the marketing of the securities to be sold by the Company
         therein; provided, however, that if any shares are to be included in
         such underwriting for the account of any person other than the Company
         (other than any holder of any shares of Parity Stock), the number of
         shares to be included by any such person shall be reduced first; and
         provided further, however, that the number of any such shares held by
         any person other than the Holders and holders of Parity Stock shall be
         reduced before the number of any such shares held by the Holders and
         holders of Parity Stock is reduced. With respect to the first proviso
         of the preceding sentence, if the Company elects to reduce pro rata the
         amount of Restricted Stock proposed to be offered in the underwriting
         for the accounts of all persons other than the Company, for purposes of
         making any such reduction, each holder of Restricted Stock or Parity
         Stock which is a partnership, together with the affiliates, partners,
         employees, retired partners and retired employees of such holder, the
         estates and family members of any such partners, employees, retired
         partners and retired employees and of their spouses, and any trusts for
         the benefit of any of the foregoing persons shall be deemed to be a
         single "person," and any pro rata reduction with respect to such
         "person" shall be based upon the aggregate number of shares of
         Restricted Stock or Parity Stock, as the case may be, owned by all
         entities and individuals included as such "person", as defined in this
         sentence (and the aggregate number so allocated to such "person" shall
         be allocated among the entities and individuals included in such
         "person" in such manner as such holder of Restricted Stock or Parity
         Stock, as the case may be, may reasonably determine). Notwithstanding
         anything to the contrary contained in this Section 5, in the event that
         there is an underwritten offering of securities of the Company pursuant
         to a registration covering Restricted Stock and a selling Holder does
         not elect to sell his, her or its Restricted Stock to the underwriters
         of the Company's securities in connection with such offering, such
         holder shall refrain from selling such Restricted Stock not registered
         pursuant to this Section 5 during the period of distribution of the
         Company's securities by such underwriters and the period in which the
         underwriting syndicate participates in the after market; provided,
         however, that such holder shall, in any event, be entitled to sell its
         Restricted Stock in connection with such registration commencing on the
         180th day after the effective date of such registration statement.

                           (b) If, at a time when Form S-3 is available for such
         registration, the Company shall receive from any Holder a written
         request or requests that the Company effect a non-

<PAGE>

         underwritten registration on Form S-3 of any such holder's Restricted
         Stock, the Company will promptly give written notice of the proposed
         registration to all other Holders and, as soon as practicable, effect
         such registration and all such related qualifications and compliances
         as may be requested and as would permit or facilitate the sale and
         distribution of all Restricted Stock as are specified in such request
         and any written requests of other Holders given within 20 days after
         receipt of such notice. The Company shall not be required to file a
         registration statement under Form S-3 if it would not be required to
         file a registration statement under Section 4 hereof pursuant to
         Section 4(a)(iii). The Company shall only be required to effect four
         registrations under this Section 5(b), and each two registrations under
         this Section 5(b) will count as one registration under Section 4 above.

                  SECTION 6. REGISTRATION PROCEDURES. If and whenever the
Company is required by the provisions of Section 5 hereof to use its
commercially reasonable best efforts to effect the registration of any shares of
Restricted Stock under the Securities Act, the Company shall promptly:

                           (a) prepare and file with the Commission a
         registration statement (which, in the case of an underwritten public
         offering pursuant to Section 4 hereof, shall be on Form S-3 or other
         form of general applicability satisfactory to a majority of the Holders
         of Restricted Stock to be included therein) with respect to such
         securities and use its best efforts to cause such registration
         statement to become and remain effective for the period of the
         distribution contemplated thereby (determined as hereinafter provided)
         or the date on which the Holders may sell all of the Restricted Stock
         covered by such registration statement without restriction pursuant to
         Rule 144A;

                           (b) prepare and file with the Commission such
         amendments and supplements to such registration statement and the
         prospectus used in connection therewith as may be necessary to keep
         such registration statement effective for the period specified in
         Section 6 (a) above and as to comply with the provisions of the
         Securities Act with respect to the disposition of all Restricted Stock
         covered by such registration statement in accordance with the sellers'
         intended method of disposition set forth in such registration statement
         for such period;

                           (c) furnish to each seller and to each underwriter,
         without charge, such number of copies of the registration statement and
         the prospectus included therein (including each preliminary prospectus)
         as such persons may reasonably request in order to facilitate the
         public sale or other disposition of the Restricted Stock covered by
         such registration statement in accordance with applicable law and the
         disclosure set forth in such prospectus;

                           (d) use its commercially reasonable best efforts to
         register or qualify the Restricted Stock covered by such registration
         statement under the securities or blue sky laws of such jurisdictions
         as the sellers of Restricted Stock or, in the case of an underwritten
         public offering, the managing underwriter shall reasonably request in
         writing;

                           (e) immediately notify each holder of Restricted
         Stock covered by such registration statement and each underwriter, at
         any time when a prospectus relating thereto is required to be delivered
         under the Securities Act, of the happening of any event as a result of
         which the prospectus contained in such registration statement, as then
         in effect, includes an untrue statement of a material fact or omits to
         state any material fact required to be stated therein or necessary to
         make the statements therein not misleading in the light of the
         circumstances under which they were made;

<PAGE>

                           (f) furnish, at the request of any Holder of
         Restricted Stock, on the date that Restricted Stock is delivered to the
         underwriters for sale pursuant to such registration: (i) an opinion
         dated such date of counsel representing the Company for the purposes of
         such registration, addressed to the underwriters and to such seller,
         stating (A) that such registration statement has become effective under
         the Securities Act, (B) that, to the knowledge of such counsel, no stop
         order suspending the effectiveness thereof has been issued and no
         proceedings for that purpose have been instituted or are pending or
         contemplated under the Securities Act and (C) that the registration
         statement and the related prospectus, and each amendment or supplement
         thereof, comply as to form in all material respects with the
         requirements of the Securities Act and the applicable rules and
         regulations of the Commission thereunder (except that such counsel need
         not express any opinion as to financial statements contained therein),
         and to such other effects as may reasonably be requested by counsel for
         the underwriters or by such seller or its counsel, and (ii) a letter
         dated such date from the independent public accountants retained by the
         Company, addressed to the underwriters and to such seller, stating that
         they are independent public accountants within the meaning of the
         Securities Act and that, in the opinion of such accountants, the
         financial statements of the Company included in the registration
         statement or the prospectus, or any amendment or supplement thereof,
         comply as to form in all material respects with the applicable
         accounting requirements of the Securities Act, and such letter shall
         additionally cover such other financial matters (including information
         as to the period ending no more than five business days prior to the
         date of such letter) with respect to the registration in respect of
         which such letter is being given as such underwriters or such seller
         may reasonably request;

                           (g) make available for inspection by representatives
         of the Holders of a majority of the Restricted Stock being sold, any
         underwriter participating in any distribution pursuant to such
         registration statement, and any attorney, accountant retained by such
         seller or underwriter, all relevant financial and other records,
         pertinent corporate documents and properties of the Company, as shall
         be reasonably deemed necessary by such Holders and its subsidiaries,
         and cause the Company's officers, directors and employees to supply all
         information reasonably requested by any such selling Holder,
         underwriter, attorney or accountant in connection with such
         registration statement as is customary for similar due diligence
         examinations during normal business hours at the offices where such
         information is normally kept;

                           (h) otherwise use its best efforts to comply with all
         applicable rules and regulations of the Commission;

                           (i) use its commercially reasonable best efforts to
         cause all Restricted Stock covered by the registration statement to be
         listed on each securities exchange or market, if any, on which similar
         securities issued by the Company are then listed, provided that the
         applicable listing requirements are satisfied;

                           (j) make available to its security holders an
         earnings statement covering at least 12 months which shall satisfy the
         provisions of Sections 11(a) of the Securities Act and Rule 158
         thereunder;

                           (k) cooperate and assist in any filings required to
         be made with the New York Stock Exchange and the National Association
         of Securities Dealers, Inc., including in order for the Restricted
         Stock to be admitted to listing on the New York Stock Exchange;

                           (l) notify each Holder of Restricted Stock registered
         by a registration statement (i) when such registration statement has
         become effective and when any post-effective amendments and supplements
         thereto become effective, (ii) of any request by the Commission or

<PAGE>

         any state securities authority for post-effective amendments and
         supplements to a registration statement and prospectus or for
         additional information after such registration statement has become
         effective, (iii) of the issuance by the Commission or any state
         securities authority of any stop order suspending the effectiveness of
         such registration statement or the initiation of any proceedings for
         that purpose, (iv) in the case of a registration, if, between the
         effective date of a registration statement and the closing of any sale
         of Restricted Stock, the representations and warranties of the Company
         contained in any underwriting agreement, securities sales agreement or
         other similar agreement, if any, relating to the offering cease to be
         true and correct in all material respects; and

                           (m) in the event of any underwritten public offering,
         use its commercially reasonable best efforts to commence a road show
         (and make senior management available to participate in such road show)
         in order to help facilitate the marketing of such Restricted Stock.

                  For purposes of Sections 6(a) and (b) above and of Section
4(c) hereof, the period of distribution of Restricted Stock in a firm commitment
underwritten public offering shall be deemed to extend until each underwriter
has completed the distribution of all securities purchased by it, and the period
of distribution of Restricted Stock in any other registration shall be deemed to
extend until the sale of all Restricted Stock covered thereby.

                  In connection with each registration hereunder, the selling
holders of Restricted Stock will furnish to the Company in writing such
information with respect to themselves and the proposed distribution by them as
shall be necessary in order to assure compliance with Federal and applicable
state securities laws.

                  Any holder of Restricted Stock, and their permitted
transferees, receiving any written notice from the Company regarding the
Company's plans to file a registration statement shall treat such notice
confidentially and shall not disclose such information to any person other than
as necessary to exercise its rights under this Agreement.

                  In connection with each registration pursuant to Sections 4
and 5 hereof covering an underwritten public offering, the Company agrees to
enter into a written agreement with the managing underwriter selected in the
manner herein provided in such form and containing such provisions as are
customary in the securities business for such an arrangement between major
underwriters and companies of the Company's size and investment stature.

                  SECTION 7. EXPENSES. All expenses incurred by the Company in
complying with Sections 4 and 5 hereof, including, without limitation, all
registration and filing fees, printing expenses, fees and disbursements of
counsel and independent public accountants for the Company, fees of the National
Association of Securities Dealers, Inc., transfer taxes, fees of transfer agents
and registrars and costs of insurance and fees and expenses of one counsel for
the sellers of Restricted Stock, but excluding any Selling Expenses, are herein
called "Registration Expenses". All underwriting discounts and selling
commissions applicable to the sale of Restricted Stock are herein called
"Selling Expenses." The Company will pay all Registration Expenses in connection
with each registration statement filed pursuant to Section 4 or 5 hereof. All
Selling Expenses incurred in connection with any sale of Restricted Stock by any
participating seller shall be borne by such participating seller, or by such
persons other than the Company as they may agree.

                  SECTION 8. INDEMNIFICATION. In the event of a registration of
any of the Restricted Stock under the Securities Act pursuant to Section 4 or 5
hereof, the Company will indemnify and hold harmless each seller of such
Restricted Stock thereunder and each other person, if any, who

<PAGE>

controls such seller within the meaning of Section 15 of the Securities Act,
against any and all losses, claims, damages, expenses or liabilities, joint or
several, to which such seller or controlling person may become subject, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof)
arise out of or are based upon any untrue statement or alleged untrue statement
of any material fact contained in any registration statement under which such
Restricted Stock was registered under the Securities Act pursuant to Section 4
or 5, any preliminary prospectus or final prospectus contained therein, or any
amendment or supplement thereof, or arise out of or are based upon the omission
or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading, and will reimburse
each such seller and each such controlling person for any legal or other
expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, damage, liability, expense or action; provided,
however, that the Company will not be liable in any such case if and to the
extent that any such loss, claim, damage or liability arises out of or is based
upon an untrue statement or alleged untrue statement or omission or alleged
omission so made in conformity with information furnished by such seller, of
Restricted Stock or such controlling person for use in such registration
statement or prospectus.

                  In the event of a registration of any of the Restricted Stock
under the Securities Act pursuant to Section 4 or 5 hereof, each seller of such
Restricted Stock thereunder, severally and not jointly, will indemnify and hold
harmless the Company and each person, if any, who controls the Company within
the meaning of the Securities Act, each officer of the Company who signs the
registration statement, each director of the Company, each underwriter and each
person who controls any underwriter within the meaning of the Securities Act,
against all losses, claims, damages, expenses or liabilities, joint or several,
to which the Company or such officer or director or underwriter or controlling
person may become subject, insofar as such losses, claims, damages, expenses or
liabilities (or actions in respect thereof) arise out of or are based upon any
untrue statement or alleged untrue statement of any material fact contained in
the registration statement under which such Restricted Stock was registered
under the Securities Act pursuant to Section 4 or 5, any preliminary prospectus
or final prospectus contained therein, or any amendment or supplement thereof,
or arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made,
not misleading, and will reimburse the Company and each such officer, director,
underwriter and controlling person for any legal or other expenses reasonably
incurred by them in connection with investigating or defending any such loss,
claim, damage, liability or action; provided, however, that such seller will be
liable hereunder in any such case if and only to the extent that any such loss,
claim, damage or liability arises out of or is based upon an untrue statement or
alleged untrue statement or omission or alleged omission made in reliance upon
and in conformity with information pertaining to such seller, as such, furnished
in writing to the Company by such seller specifically for use in such
registration statement or prospectus; provided, further, however, that the
liability of each seller hereunder shall be limited to the proportion of any
such loss, claim, damage, liability or expense which is equal to the proportion
that the public offering price of the shares sold by such seller under such
registration statement bears to the total public offering price of all
securities sold thereunder, but not to exceed the proceeds received by such
seller from the sale of Restricted Stock covered by such registration statement.
Promptly after receipt by an indemnified party hereunder of notice of the
commencement of any action, such indemnified party shall, if a claim in respect
thereof is to be made against the indemnifying party hereunder, notify the
indemnifying party in writing thereof, but the omission so to notify the
indemnifying party shall not relieve it from any liability which it may have to
any indemnified party under this Section 8. In case any such action shall be
brought against any indemnified party and it shall notify the indemnifying party
of the commencement thereof, the indemnifying party shall be entitled to
participate in and, to the extent it shall wish, to assume and undertake the
defense thereof with counsel reasonably satisfactory to such indemnified party,
and, after notice from the indemnifying party to such indemnified party of its
election to assume and undertake the defense thereof, the indemnifying party
shall not be liable to such indemnified party under this

<PAGE>

Section 8 for any legal expenses subsequently incurred by such indemnified party
in connection with the defense thereof; provided, however, that, if the
defendants in any such action include both the indemnified party and the
indemnifying party and the indemnified party shall have reasonably concluded
that there may be reasonable defenses available to it which are different from
or additional to those available to the indemnifying party or if the interests
of the indemnified party reasonably may be deemed to conflict with the interests
of the indemnifying party, the indemnified party shall have the right to select
one separate counsel and to assume such legal defenses and otherwise to
participate in the defense of such action, with the expenses and fees of such
separate counsel and other expenses related to such participation to be
reimbursed by the indemnifying party as incurred.

                  Notwithstanding the foregoing, any indemnified party shall
have the right to retain its own counsel in any such action, but the fees and
disbursements of such counsel shall be at the expense of such indemnified party
unless (i) the indemnifying party shall have failed to retain counsel for the
indemnified party as aforesaid, (ii) the indemnified party shall have reasonably
concluded that there may be reasonable defenses available to it which are
different from or additional to those available to the indemnifying party or
that the interests of the indemnified party conflict with the interests of the
indemnifying party, or (iii) the indemnifying party and such indemnified party
shall have mutually agreed to the retention of such counsel. It is understood
that the indemnifying party shall not, in connection with any action or related
actions in the same jurisdiction, be liable for the fees and disbursements of
more than one separate firm qualified in such jurisdiction to act as counsel for
the indemnified party. The indemnifying party shall not be liable for any
settlement of any proceeding effected without its written consent, but if
settled with such consent or if there be a final judgment for the plaintiff, the
indemnifying party agrees to indemnify the indemnified party from and against
any loss or liability by reason of such settlement or judgment. If the
indemnification provided for in the first two paragraphs of this Section 8 is
unavailable to or insufficient to hold harmless an indemnified party under such
paragraphs in respect of any losses, claims, damages or liabilities or actions
referred to therein, then each indemnifying party shall in lieu of indemnifying
such indemnified party contribute to the amount paid or payable by such
indemnified party as a result of such losses, claims, damages, liabilities or
actions in such proportion as appropriate to reflect the relative fault of the
Company, on the one hand, and the sellers of such Restricted Stock, on the
other, in connection with the statement or omissions which resulted in such
losses, claims, damages, liabilities or actions, as well as any other relevant
equitable considerations including, without limitation, the failure to give any
notice under the second paragraph of this Section 8. The relative fault shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to state
a material fact relates to information supplied by the Company, on the one hand,
or by the sellers of such Restricted Stock, on the other hand, and to the
parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission.

                  The Company and the sellers of Restricted Stock agree that it
would not be just and equitable if contribution pursuant to this Section 8 were
determined by pro rata allocation (even if all of the sellers of Restricted
Stock were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred
to in the immediately preceding paragraph. The amount paid or payable by an
indemnified party as a result of the losses, claims, damages, liabilities or
action referred to in the immediately preceding paragraph shall be deemed to
include, subject to the limitations set forth above, any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating
or defending any such action or claim. Notwithstanding the provisions of this
and the immediately preceding paragraph, the sellers of such Restricted Stock
shall not be required to contribute any amount in excess of the amount, if any,
by which the total price at which the Common Stock sold by each of them was
offered to the public exceeds the amount of any damages which they would have
otherwise been required to pay by reason of such untrue or alleged untrue
statement of omission. No person guilty of fraudulent misrepresentation (within
the

<PAGE>

meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who is not guilty of such fraudulent
misrepresentation. The indemnification of underwriters provided for in this
Section 8 shall be on such other terms and conditions as are at the time
customary and reasonably required by such underwriters and the indemnification
of the sellers of Restricted Stock in such underwriting shall, at the sellers'
request, be modified to conform to such terms and conditions. Upon the
reasonable request of any stockholder selling Restricted Stock pursuant to a
registration statement or any underwriter of such stock, the Company shall
obtain, if reasonably available, an insurance policy covering the risks
described above in this Section 8 in an amount and with a deductible reasonably
requested by such seller or underwriter and naming such seller, any underwriter
of such stock and any person controlling such seller or underwriter as
beneficiaries. The costs of obtaining and maintaining any such insurance shall
be borne by the Company.

                  SECTION 9. CHANGES IN COMMON STOCK. If, and as often as, there
are any changes in the Common Stock by way of stock split, stock dividend,
combination or reclassification, or through merger, consolidation,
reorganization or recapitalization, or by any other means, appropriate
adjustment shall be made in the provisions hereof, as may be required, so that
the rights and privileges granted by this Agreement shall continue with respect
to the Common Stock as so changed.

                  SECTION 10. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The
Company represents and warrants to each of the other parties hereto as follows
(which representations and warranties shall survive the execution and delivery
of this Agreement):

                           (a) The execution, delivery and performance of this
         Agreement by the Company have been duly authorized by all requisite
         corporate action and will not violate any provision of law, any order
         of any court or other agency of government, the Certificate of
         Incorporation or By-laws of the Company, or any provision of any
         indenture, agreement or other instrument to which it or any of its
         properties or assets is bound, or conflict with, result in a breach of
         or constitute (with due notice or lapse of time or both) a default
         under any such indenture, agreement or other instrument, or result in
         the creation or imposition of any lien, charge or encumbrance of any
         nature whatsoever upon any of the properties or assets of the Company
         or any of its subsidiaries.

                           (b) This Agreement has been duly executed and
         delivered by the Company and constitutes the legal, valid and binding
         obligation of the Company, enforceable in accordance with its terms
         except as enforceability may be limited by applicable bankruptcy,
         insolvency or other similar laws affecting the enforcement of
         creditors' rights generally and by general principles of equity
         relating to enforceability.

                  SECTION 11. RULE 144 REPORTING. The Company agrees with each
of the other parties hereto as follows:

                           (a) The Company shall make and keep public
         information available as those terms are understood and defined in Rule
         144 under the Securities Act.

                           (b) The Company shall file with the Commission in a
         timely manner all reports and other documents as the Commission may
         prescribe under Section 13(a) or 15(d) of the Securities Exchange Act
         of 1934, as amended, and the rules and regulations promulgated
         thereunder (the "Exchange Act") as and when required by the Exchange
         Act.

                           (c) The Company shall furnish to each holder of
         Restricted Securities forthwith upon reasonable request (i) a written
         statement by the Company as to its compliance with the reporting
         requirements of Rule 144, and of the Securities Act and the Exchange
         Act, (ii) a copy of

<PAGE>

         the most recent annual or quarterly report of the Company, and (iii)
         such other reports and documents so filed as such holder may reasonably
         request to avail itself of any rule or regulation of the Commission
         allowing a holder of Restricted Securities to sell any such securities
         without registration.

                  SECTION 12. MISCELLANEOUS.

                           (a) The obligations under Section 3 and the rights
         arising under Sections 4 and 5 shall terminate as to a Holder when (i)
         such a Holder is no longer an "affiliate" as used in Rule 144 and (ii)
         such a Holder is permitted to sell all Restricted Stock then held by it
         pursuant to Rule 144(k).

                           (b) All covenants and agreements contained in this
         Agreement by or on behalf of any of the parties hereto shall bind and
         inure to the benefit of the respective successors and assigns of the
         parties hereto whether so expressed or not. Without limiting the
         generality of the foregoing, the registration rights conferred herein
         on the holders of Restricted Securities shall inure to the benefit of
         any and all subsequent holders from time to time of the Restricted
         Stock for so long as the certificates representing the Restricted Stock
         shall be required to bear the legend specified in Section 2 hereof.

                           (c) All notices, demands and other communications
         provided for or permitted hereunder shall be made in writing and shall
         be by registered or certified first-class mail, return receipt
         requested, telecopier (with receipt confirmed), courier service or
         personal delivery:

                           (i)      if to the Company:

                                    2750 Regent Boulevard
                                    DFW Airport, TX  75261
                                    Telecopier:  (972) 586-1000
                                    Attention:  Jeffrey J. Murphy

                                    with a copy to:
                                    Haynes and Boone, LLP
                                    901 Main Street, Suite 3100
                                    Dallas, Texas  75202
                                    Telecopier No.:  214.200.0676
                                    Attention:  Janice V. Sharry

                           (ii)     if to WMF, Whitney DF or Whitney LLC

                                    c/o Whitney & Co.
                                    177 Broad Street, 1st Floor
                                    Stamford, Connecticut 06901
                                    Telecopier No.:  (203) 973-1422
                                    Attention: Michael Salvatore
                                    James H. Fordyce
                                    Joseph D. Carrabino, Jr.
                                    James A. Feeley, III

<PAGE>

                           with a copy to:

                                    Chadbourne & Parke, LLP
                                    30 Rockefeller Plaza
                                    New York, NY  10112
                                    Telecopier No.:  (212) 541-5369
                                    Attention:  Thomas C. Meriam

                           (iii)    if to Blackstone:

                                    The Blackstone Mezzanine Group
                                    345 Park Avenue
                                    New York, NY  10154
                                    Attention:  Sal Gentile
                                    Telecopier No.:  212.583.5482

                           (iv)     if to Carlyle:

                                    The Carlyle Group
                                    250 Madison Avenue
                                    41st Floor
                                    New York, New York 10022
                                    Attention:   Michael Zupon
                                                 David Waxman

                           with a copy to:

                                    Latham & Watkins
                                    555 11th Street, N.W.
                                    Suite 1000
                                    Washington, DC  20004
                                    Telecopier No.:  (202) 637-2201
                                                                   -
                                    Attention:  Daniel T. "Dan" Lennon

                           (v)      if to Oak Hill Securities Fund, L.P.:

                                    Oak Hill Securities Fund, L.P.
                                    Park Avenue Tower
                                    65 East 55th Street
                                    New York, NY  10022
                                    Telecopier No.:
                                    Attention:  Scott Krase

                           (vi)     if to the Oak Hill Securities Fund II, L.P.:

                                    Oak Hill Securities Fund II, L.P.
                                    Park Avenue Tower
                                    65 East 55th Street
                                    New York, NY  10022
                                    Attention:  Scott Krase

<PAGE>

                           (viii)   if to Lerner Enterprises, LP

                                    Oak Hill Asset Management, Inc.
                                    Park Avenue Tower
                                    65 East 55th Street
                                    32nd Floor
                                    New York, NY  10022
                                    Attention:  Megan McCann

                                    And to:

                                    Lerner Enterprises
                                    11501 Huff Court
                                    Kensington, Maryland  20895-1094
                                    Attention:  Margaret Mekenie

                           (ix)     if to P & PK Family Limited Partnership

                                    Oak Hill Asset Management, Inc.
                                    Park Avenue Tower
                                    65 East 55th Street
                                    32nd Floor
                                    New York, NY  10022
                                    Attention:  Megan McCann

         or to such other address or addresses as shall have been furnished in
         writing to the other parties hereto. Each holder agrees, at all times,
         to provide the Company with an address for notices hereunder.

                           All such notices and communications shall be deemed
         to have been duly given: when delivered by hand, if personally
         delivered; when delivered by courier, if delivered by commercial
         overnight courier service; if mailed, five Business Days (as defined in
         the Purchase Agreement) after being deposited in the mail, postage
         prepaid; or if telecopied, when receipt is acknowledged.

                           (d) THIS AGREEMENT SHALL BE GOVERNED BY, CONSTRUED IN
         ACCORDANCE WITH, AND ENFORCED UNDER, THE LAW OF THE STATE OF NEW YORK
         APPLICABLE TO AGREEMENTS OR INSTRUMENTS ENTERED INTO AND PERFORMED
         ENTIRELY WITHIN SUCH STATE.

                           (e) (I) EACH PARTY TO THIS AGREEMENT HEREBY
         IRREVOCABLY AGREES THAT ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF
         OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY
         MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED
         STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK AND HEREBY
         EXPRESSLY SUBMITS TO THE PERSONAL JURISDICTION AND VENUE OF SUCH COURTS
         FOR THE PURPOSES THEREOF AND EXPRESSLY WAIVES ANY CLAIM OF IMPROPER
         VENUE AND ANY CLAIM THAT SUCH COURTS ARE AN INCONVENIENT FORUM. EACH
         PARTY HEREBY IRREVOCABLY CONSENTS TO THE

<PAGE>

         SERVICE OF PROCESS OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH
         SUIT, ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY
         REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO ITS ADDRESS SET FORTH
         IN SECTION 12(C), SUCH SERVICE TO BECOME EFFECTIVE 10 DAYS AFTER SUCH
         MAILING.

                           (II) THE COMPANY WAIVES ITS RIGHT TO A JURY TRIAL
         WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN
         CONNECTION WITH THIS AGREEMENT, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR
         THE PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS. THE COMPANY (X)
         CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY PURCHASER
         HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT IT WOULD NOT, IN THE
         EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS AND (Y)
         ACKNOWLEDGES THAT THE PURCHASERS HAVE BEEN INDUCED TO ENTER INTO THIS
         AGREEMENT BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS
         CONTAINED HEREIN.

                           (f) This Agreement and the Purchase Agreement
         constitute the entire agreement of the parties with respect to the
         subject matter hereof and may not be modified or amended except in
         writing. For the avoidance of doubt, this Agreement supercedes the
         Registration Rights Agreement and the Registration Rights Agreement
         shall be of no further force or effect.

                           (g) Telefacsimile transmissions of any executed
         original document and/or retransmission of any executed telefacsimile
         transmission shall be deemed to be the same as the delivery of an
         executed original. At the request of any party hereto, the other
         parties hereto shall confirm telefacsimile transmissions by executing
         duplicate original documents and delivering the same to the requesting
         party or parties. This Agreement may be executed in any number of
         counterparts and by the parties hereto in separate counterparts, each
         of which when so executed shall be deemed to be an original and all of
         which taken together shall constitute one and the same agreement.

                           (h) The Company (on the one hand) and the Purchasers
         (on the other hand) agree that any amendment to the Federal securities
         laws (and regulations promulgated thereunder (and related registration
         forms), and related state securities laws shall not affect the
         substantive registration requirements (and other obligations of the
         Company) set forth in this Agreement; and, following any such
         amendment, the Company shall continue to be required to cause the
         registration of Restricted Stock (and pay all Registration Expenses and
         provide indemnification) under the Federal securities laws, as amended,
         in a manner consistent to carry out the intent and purposes of (and on
         terms as similar as practicable as the terms set forth in) this
         Agreement.

                           (i) If any one or more of the provisions contained in
         this Agreement, or the application thereof in any circumstance, is held
         invalid, illegal or unenforceable in any respect for any reason, the
         validity, legality and enforceability of any such provision in every
         other respect and of the remaining provisions hereof shall not be in
         any way impaired, unless the provisions held invalid, illegal or
         unenforceable shall substantially impair the benefits of the remaining
         provisions of this Agreement. The parties hereto further agree to
         replace such invalid, illegal or unenforceable provision of this
         Agreement with a valid, legal and enforceable provision that will
         achieve, to the extent possible, the economic, business and other
         purposes of such invalid, illegal or unenforceable provision.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

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

                         AVIALL, INC.

                         By:  /s/ Jeffrey J. Murphy
                            ----------------------------------------------------
                            Name:  Jeffrey J. Murphy
                            Title: Senior Vice President, Law and Human
                                   Resources, Secretary and General Counsel

                         J. H. WHITNEY MEZZANINE FUND, L.P.

                               By:  Whitney GP, LLC,
                                     Its General Partner

                         By:  /s/ Joseph D. Carrabino, Jr.
                            ----------------------------------------------------
                            Name:  Joseph D. Carrabino, Jr.
                            Title: Managing Member

                         WHITNEY PRIVATE DEBT FUND, L.P.

                               By: Whitney Private Debt GP, LLC
                                    Its General Partner

                         By:  /s/ Joseph D. Carrabino, Jr.
                            ----------------------------------------------------
                            Name:  Joseph D. Carrabino, Jr.
                            Title: Managing Member

                         WHITNEY LIMITED PARTNER HOLDINGS, LLC

                         By:  /s/ Joseph D. Carrabino, Jr.
                            ----------------------------------------------------
                            Name:  Joseph D. Carrabino, Jr.
                            Title: Managing Member

                         BLACKSTONE MEZZANINE PARTNERS L.P.

                               By:   Blackstone Mezzanine Associates, L.P.
                                      Its General Partner

                               By:   Blackstone Mezzanine Management Associates,
                                      L.L.C.
                                       Its General Partner

                         By: /s/ Howard Gellis
                            ----------------------------------------------------
                            Name:  Howard Gellis
                            Title: Member

<PAGE>

                         BLACKSTONE MEZZANINE HOLDINGS L.P.

                               By:   Blackstone Mezzanine Associates, L.P.
                                      Its General Partner

                               By:   Blackstone Mezzanine Management Associates,
                                      L.L.C.
                                       Its General Partner

                         By: /s/ Howard Gellis
                            ----------------------------------------------------
                            Name:  Howard Gellis
                            Title: Member

                         CARLYLE HIGH YIELD PARTNERS, L.P.

                         By:    /s/ Mark Alter
                            ----------------------------------------------------
                            Name:  Mark Alter
                            Title: Managing Director

                         OAK HILL SECURITIES FUND, L.P.

                               By:   Oak Hill Securities GenPar, L.P.
                                      Its General Partner

                               By:   Oak Hill Securities MGP, Inc.
                                      Its General Partner

                         By:    /s/ Scott D. Krase
                            ----------------------------------------------------
                            Name:  Scott D. Krase
                            Title: Authorized Signatory

                         OAK HILL SECURITIES FUND II, L.P.

                               By:   Oak Hill Securities GenPar II, L.P.
                                      Its General Partner

                               By:   Oak Hill Securities MGP II, Inc.
                                      Its General Partner

                         By:    /s/ Scott D. Krase
                            ----------------------------------------------------
                            Name:  Scott D. Krase
                            Title: Authorized Signatory

<PAGE>

                         LERNER ENTERPRISES, L.P.

                               By: Oak Hill Asset Management, Inc.
                                    As Advisor and Attorney-in-Fact to Lerner
                                    Enterprises, L.P. (OHP Account)

                         By:    /s/ Scott D. Krase
                            ----------------------------------------------------
                            Name:  Scott D. Krase
                            Title: Authorized Signatory

                         P & PK FAMILY LIMITED PARTNERSHIP

                             By: Oak Hill Asset Management, Inc.
                                   As Advisor and Attorney-in-Fact to P & PK
                                   Family Limited Partnership (OHP account)

                         By:    /s/ Scott D. Krase
                            ----------------------------------------------------
                            Name:  Scott D. Krase
                            Title: Authorized Signatory

                [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

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