Document:

<PAGE>

                                                                    Exhibit 10.2

                  AGREEMENT OF COMMITMENT TO EXERCISE RIGHTS

                                  dated as of

                       ________________________________

                                by and between

                            Aviation Sales Company

                                      and

                LJH Corporation, a ________________ corporation
<PAGE>

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                             Page
<S>                                                                                          <C>
ARTICLE I      ISSUANCE AND SALE OF SHARES..................................................   1
         1.1   Issuance, Purchase and Sale..................................................   1
         1.2   Closing......................................................................   2
         1.3   Deliveries...................................................................   2
         1.4   Capitalized Terms............................................................   2

ARTICLE II     REPRESENTATIONS AND WARRANTIES OF THE COMPANY................................   2
         2.1   Organization; Subsidiary; Books and Records..................................   2
         2.2   Due Authorization............................................................   2
         2.3   SEC Reports; Registration; Listing of Common Stock...........................   3
         2.4   Financial Statements.........................................................   3
         2.5   Absence of Certain Changes...................................................   3
         2.6   Section 203 of the DGCL; Takeover Statute....................................   3

ARTICLE III    REPRESENTATIONS AND WARRANTIES OF THE PURCHASER..............................   4
         3.1   Acquisition for Investment...................................................   4
         3.2   Accredited Investor Status...................................................   4
         3.3   Information..................................................................   4
         3.4   Government Review............................................................   4
         3.5   Resale or Transfer...........................................................   4
         3.6   Residency....................................................................   5
         3.7   Organization.................................................................   5
         3.8   Due Authorization............................................................   5
         3.9   Non-reliance Regarding Tax Consequences......................................   5

ARTICLE IV     COVENANTS....................................................................   5
         4.1   Consents, Approvals and Filings..............................................   5
         4.2   Reasonable Efforts...........................................................   5
         4.3   Company Stockholder Approval.................................................   6
         4.4   Notification of Certain Matters..............................................   6
         4.5   Registration of Shares.......................................................   6
         4.6   Further Assurances...........................................................   6

ARTICLE V      RESTRICTIONS ON TRANSFER.....................................................   6
         5.1   Restrictions on Transfer.....................................................   6
         5.2   Compliance with Laws; Stop Order.............................................   7

ARTICLE VI     CONDITIONS...................................................................   7
         6.1   Conditions to Obligations of the Purchaser and the Company at the Closing....   7
</TABLE>

                                       i
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<TABLE>
<S>                                                                                           <C>
         6.2   Additional Conditions to Obligations of the Purchaser at the Closing.........   7
         6.3   Additional Conditions to Obligations of the Company at the Closing...........   8

ARTICLE VII    TERMINATION..................................................................   9
         7.1   Termination..................................................................   9
         7.2   Effect of Termination........................................................  10
         7.3   Extensions; Waiver...........................................................  10

ARTICLE VIII   INDEMNIFICATION..............................................................  10
         8.1   Indemnification..............................................................  10
         8.2   Method of Asserting Indemnification for Third Party Claims...................  10
         8.3   Method of Asserting Indemnification for Other Claims.........................  11
         8.4   Limitations on Indemnification...............................................  12

ARTICLE IX     MISCELLANEOUS................................................................  12
         9.1   Definitions..................................................................  12
         9.2   Restrictive Legends..........................................................  13
         9.3   Successors and Assigns.......................................................  14
         9.4   Entire Agreement.............................................................  14
         9.5   Notices......................................................................  14
         9.6   Amendments; Waivers..........................................................  15
         9.7   Counterparts.................................................................  15
         9.8   Governing Law................................................................  15
         9.9   Exclusive Jurisdiction; Venue................................................  15
</TABLE>

                                      ii
<PAGE>

                  AGREEMENT OF COMMITMENT TO EXERCISE RIGHTS

     AGREEMENT OF COMMITMENT TO EXERCISE RIGHTS (this "Agreement"), dated as of
_______________, 2001, is made between Aviation Sales Company, a Delaware
corporation (the "Company"), and LJH Corporation, a ____________________
corporation (the "Purchaser").

                              W I T N E S S E T H:
                              -------------------

     WHEREAS, the Company proposes to issue rights (the "Rights") to purchase
shares of its post-reverse split common stock (the "Common Stock"), pursuant to
a registration statement on Form S-1 filed with the Securities and Exchange
Commission in September 2001 (the "Rights Offering"); and

     WHEREAS, the Purchaser will be issued Rights pursuant to the Rights
Offering;

     WHEREAS, upon the terms and subject to the conditions set forth in this
Agreement, the Company wishes to sell to the Purchaser and the Purchaser wishes
to purchase Common Stock upon exercise of the Purchaser's Rights in the Rights
Offering;

     WHEREAS, upon the terms and conditions set forth in this Agreement, the
Company wishes to sell the Purchaser and the Purchaser wishes to purchase the
unsold allotment of shares of Common Stock issuable in the Rights Offering
following the closing of the Basic Subscription Privilege and the
Oversubscription Privilege; and

     WHEREAS, the Purchaser and the Company wish to provide for the purchase and
sale of the Common Stock and to establish certain rights and obligations in
connection therewith;

     NOW, THEREFORE, in consideration of the premises and the mutual
representations, warranties, covenants and agreements set forth in this
Agreement, the parties hereto agree as follows:

                                   ARTICLE I

                          ISSUANCE AND SALE OF SHARES

     1.1  Issuance, Purchase and Sale.
          ---------------------------

          (a)  Upon the terms and subject to the conditions set forth herein,
the Company shall sell to the Purchaser and the Purchaser shall purchase by
exercising its Basic Subscription Privilege for _____________ shares of Common
Stock (the "Rights Offering Shares") at a stated price of $.8325 per share
("Initial Rights Exercise") from the Company in the Rights Offering.

          (b)  Upon the terms and subject to the conditions set forth herein, at
the Closing the Company shall sell to the Purchaser and the Purchaser shall
purchase from the Company, following the closing of the Basic Subscription
Privilege and the Oversubscription Privilege in the Rights Offering, the
aggregate unsold allotment of shares of Common Stock

                                       1
<PAGE>

issuable in the Rights Offering, for an amount of up to 24,024,507 shares of
Common Stock, less the Rights Offering Shares, for an aggregate purchase price
of up to $20,000,000.00 ($.8325 per share) in cash less the Initial Rights
Exercise price paid (the "Unsold Allotment Shares").

     1.2  Closing. The closing of the purchase and sale of the Rights Offering
          -------
Shares and the Unsold Allotment Shares, (collectively the "Purchased Shares")
pursuant to Section 1.1(b) (the "Closing") shall take place at the
            --------------
offices of Akerman, Senterfitt & Eidson, P.A., One Southeast Third Avenue, 28th
Floor, Miami, Florida 33131, at 10:00 a.m. on the first Business Day following
the satisfaction or waiver of the applicable conditions set forth in Article VI
                                                                     ----------
(other than those conditions that by their nature are to be satisfied at such
Closing, but subject to the satisfaction or waiver of those conditions) provided
that the Closing may take place at such other place, time or date as shall be
mutually agreed upon by the Company and the Purchaser (the date of the Closing,
the "Closing Date").

     1.3  Deliveries. At the Closing, the Company shall deliver to the Purchaser
          ----------
(i) stock certificates, each registered in the name of the Purchaser,
representing the Purchased Shares being purchased by the Purchaser at such
Closing, and (ii) such other deliveries as are specified in Section 6.2(j).
                                                            --------------
Delivery of such stock certificates and such other deliveries shall be made
against receipt by the Company of (i) the portion of the purchase price payable
therefor, which shall be paid by wire transfer of immediately available funds to
an account designated in writing by the Purchaser to the Company on the Closing
Date, and (ii) such other deliveries as are specified in Section 6.3(d).
                                                         --------------

     1.4  Capitalized Terms. Capitalized terms not otherwise defined in this
          -----------------
Agreement shall have the meanings ascribed to such terms in Section 9.1.
                                                            -----------

                                  ARTICLE II

                 REPRESENTATIONS AND WARRANTIES OF THE COMPANY

     The Company represents and warrants to the Purchaser, as of the date hereof
and as of the Closing Date, as set forth in this Article II.
                                                 ----------

     2.1  Organization; Subsidiary; Books and Records.  The Company is a
          -------------------------------------------
corporation duly organized, validly existing and in good standing under the laws
of the State of Delaware and has the requisite corporate power and authority to
carry on its business as it is now being conducted. The Company is duly
qualified and licensed as a foreign corporation to do business, and is in good
standing in each jurisdiction in which the character of its assets owned or held
under lease or the nature of its business makes such qualification necessary,
except where the failure so to qualify or be licensed would not, individually or
in the aggregate, have a Material Adverse Effect.

     2.2  Due Authorization. The Company has the requisite corporate power and
          -----------------
authority to enter into this Agreement and to consummate the transactions
contemplated hereby. The execution and delivery by the Company of this Agreement
to which it is a party, the issuance, sale and delivery of the Purchased Shares
by the Company, and the compliance by the Company with each of the provisions of
this Agreement and the consummation by the Company of the

                                       2
<PAGE>

transactions contemplated hereby) (i) are within the corporate power and
authority of the Company and (ii) have been duly authorized by all necessary
corporate action of the Company, subject to Company Stockholder approval. This
Agreement has been, duly and validly executed and delivered by the Company.
Assuming due authorization, execution and delivery by the Purchaser of this
Agreement and the obtaining by the Company of Company Stockholder Approval, this
Agreement constitutes a valid and binding agreement of the Company enforceable
against the Company in accordance with its terms, except as such enforcement is
limited by bankruptcy, insolvency and other similar laws affecting the
enforcement of creditors' rights generally and for limitations imposed by
general principles of equity. The Purchased Shares have been validly reserved
for issuance and, when issued and delivered in accordance with the terms of this
Agreement, shall be validly issued and outstanding, fully paid and non-
assessable, and not subject to the preemptive or other similar rights of the
stockholders of the Company.

     2.3  SEC Reports; Registration; Listing of Common Stock. The Company has
          --------------------------------------------------
filed with the Securities and Exchange Commission (the "SEC") all reports, proxy
statements, registration statements and other documents required to be filed by
it under the Securities Act and the Exchange Act since January 2000 and has made
available to the Purchaser complete copies of all such reports, proxy
statements, registration statements and other documents (including the financial
statements and other financial data contained herein) (collectively, the "SEC
Reports").

     2.4  Financial Statements. The consolidated financial statements of the
          --------------------
Company (including any related schedules and notes) included in the SEC Reports
have been prepared in accordance with United States generally accepted
accounting principles ("GAAP") consistently followed throughout the periods
involved (except as may be indicated in the notes thereto and, in the case of
interim financial statements, as permitted by Form 10-Q under the Exchange Act)
and fairly present in accordance with GAAP the consolidated financial condition,
results of operations, cash flows and changes in stockholders' equity of the
Company and its subsidiaries as of the respective dates thereof and for the
respective periods then ended (except as may be indicated in the notes thereto
and except, in the case of interim financial statements, for the absence of
notes and as permitted by Form 10-Q under the Exchange Act and subject to
changes resulting from year-end adjustments, none of which are material in
amount or effect).

     2.5  Absence of Certain Changes. Since September 30, 2001, neither the
          --------------------------
Company nor any of the Subsidiaries has suffered any change, event or
development or series of changes, events or developments which, individually or
in the aggregate, has had or would reasonably be expected to have a Material
Adverse Effect.

     2.6  Section 203 of the DGCL; Takeover Statute. The Company Board has taken
          -----------------------------------------
all actions necessary or advisable so that the restrictions contained in Section
203 of the DGCL applicable to a "business combination" (as defined in such
Section) and the Company's stockholders' rights plan ("Poison Pill") shall not
apply to the execution, delivery or performance of this Agreement or the
consummation of the transactions contemplated hereby. The execution, delivery
and performance of this Agreement and the consummation of the transactions
contemplated hereby shall not cause to be applicable to the Company any "fair
price," "moratorium," "control share acquisition" or other similar antitakeover
statute or regulation enacted under state or federal laws.

                                       3
<PAGE>

                                  ARTICLE III

                REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

     The Purchaser represents and warrants to the Company as of the date hereof
and as of the Closing Date, as set forth in this Article III.
                                                 -----------

     3.1  Acquisition for Investment. The Purchaser is acquiring the Purchased
          --------------------------
Shares for its own account, for investment and not with a view to, or for sale
in connection with, the distribution thereof within the meaning of the
Securities Act.

     3.2  Accredited Investor Status. The Purchaser is an "accredited investor,"
          --------------------------
as that term is as defined in Rule 501(a) of Regulation D under the Securities
Act. The Purchaser has sufficient knowledge and experience in financial and
business matters so as to be capable of evaluating the merits and risks of its
investment in the Purchased Shares and is capable of bearing the economic risks
of such investment. The Purchaser understands that its investment in the
Purchased Shares involves a significant degree of risk.

     3.3  Information. The Purchaser and its advisers have been furnished with
          -----------
all materials relating to the business, finances and operations of the Company
and materials relating to the offer and sale of the Purchased Shares which have
been requested by the Purchaser or its advisers. The Purchaser and its advisers
have been afforded the opportunity to ask questions of the Company's management
concerning the Company and the Purchased Shares.

     3.4  Government Review. The Purchaser understands that no Governmental
          -----------------
Entity has passed upon or made any recommendation or endorsement of the
Purchased Shares.

     3.5  Resale or Transfer. The Purchaser understands that (i) except as
          ------------------
otherwise expressly provided in this Agreement, the resale of the Purchased
Shares has not been and is not being registered under the Securities Act or any
applicable state securities laws, and the Purchased Shares may not be sold or
otherwise transferred unless (a) the Shares are sold or transferred pursuant to
an effective registration statement under the Securities Act, (b) the Purchaser
shall have delivered to the Company an opinion of counsel (which opinion shall
be in form, substance and scope customary for opinions of counsel in comparable
transactions and reasonably acceptable to the Company's counsel) to the effect
that the Purchased Shares to be sold or transferred may be sold or transferred
pursuant to an exemption from such registration, or (c) the Purchased Shares are
sold pursuant to Rule 144 under the Securities Act; (ii) any sale of such
Purchased Shares made in reliance on Rule 144 may be made only in accordance
with the terms of such Rule and further, if such Rule is not applicable, any
sale of such Purchased Shares under circumstances in which the seller (or the
person through whom the sale is made) may be deemed to be an underwriter (as
that term is defined in the Securities Act) may require compliance with another
exemption under the Securities Act or the rules and regulations of the SEC
thereunder; and (iii) neither the Company nor any other Person is under any
obligation to register such Purchased Shares under the Securities Act or any
state securities laws or to comply with the terms and conditions of any
exemption thereunder.

                                       4
<PAGE>

     3.6  Residency. The principal offices of the Purchaser and the offices of
          ---------
the Purchaser in which it made its decision to purchase the Purchased Shares are
located in the State of Texas.

     3.7  Organization. The Purchaser is an entity duly organized, validly
          ------------
existing and in good standing under the laws of its jurisdiction of formation
and has the requisite power and authority to carry on its business as it is now
being conducted.

     3.8  Due Authorization. The Purchaser has the requisite power and authority
          -----------------
to enter into this Agreement and to consummate the transactions contemplated
hereby. The execution and delivery by the Purchaser of this Agreement and the
compliance by the Purchaser with the provisions of this Agreement (including the
consummation by the Purchaser of the transactions contemplated hereby) (i) are
within the power and authority of the Purchaser and (ii) have been duly
authorized by all necessary action on the part of the Purchaser. This Agreement
has been duly and validly executed and delivered by the Purchaser. Assuming due
authorization, execution and delivery by the Company, this Agreement constitutes
a valid and binding agreement of the Purchaser enforceable against the Purchaser
in accordance with its terms, except as such enforcement is limited by
bankruptcy, insolvency and other similar laws affecting the enforcement of
creditors' rights generally and for limitations imposed by general principles of
equity.

     3.9  Non-reliance Regarding Tax Consequences. The Purchaser is not relying
          ---------------------------------------
on the Company or any representation contained herein with respect to the tax or
economic effect of Purchaser's investment in the Common Stock. The Purchaser has
reviewed with the Purchaser's own tax advisors the federal, state, local and
foreign tax consequences of this investment and the transactions contemplated by
this Agreement. The Purchaser is relying solely on such advisors and not on any
statements or representations of the Company or any of its representatives. The
Purchaser understands that Purchaser shall be responsible for the Purchaser's
own tax liability that may arise as a result of this investment or the
transactions contemplated by this Agreement.

                                  ARTICLE IV

                                   COVENANTS

     4.1  Consents, Approvals and Filings. Subject to the terms of this
          -------------------------------
Agreement, the Company and the Purchaser each shall use its reasonable efforts
to take, or cause to be taken, all actions, and do, or cause to be done, and to
assist and cooperate with the other party in doing, all things necessary,
proper, desirable or advisable to obtain and make all consents, approvals and
filings required to be obtained or made by the Company and its subsidiaries or
the Purchaser, as the case may be, in connection with the authorization,
execution, delivery and performance of this Agreement and the consummation of
the transactions contemplated hereby.

     4.2  Reasonable Efforts. Except as otherwise expressly provided in this
          ------------------
Agreement, the Company and the Purchaser each shall use its reasonable efforts
to take, or cause to be taken, all actions and to do, or cause to be done, all
things necessary, proper or advisable under applicable Laws to consummate the
transactions contemplated by this Agreement. In furtherance and not in
limitation of the other covenants of the parties contained in this Agreement, if
any administrative or judicial action or proceeding, including any proceeding by
a

                                       5
<PAGE>

private party, is instituted (or threatened to be instituted) challenging any
transaction contemplated by this Agreement, each party shall cooperate in all
respects with the other party and use its reasonable best efforts to contest and
resist any such action or proceeding and to have vacated, lifted, reversed or
overturned any decree, judgment, injunction or other order, whether temporary,
preliminary or permanent, that is in effect and that prohibits, prevents or
restricts the consummation of the transactions contemplated by this Agreement;
provided, however, that the Purchaser shall not be required to expend any
material funds in connection with such reasonable efforts unless the Company
shall have agreed to reimburse the Purchaser for such expenditures.

     4.3  Company Stockholder Approval. Subject to the terms of this Agreement,
          ----------------------------
the Company shall use its reasonable efforts to obtain the Company Stockholder
Approval at a meeting of the Company's stockholders and to ensure that such
meeting shall be held not later than March 31, 2002.

     4.4  Notification of Certain Matters. Each party shall give prompt notice
          -------------------------------
to the other party of, and shall use their respective reasonable efforts to
prevent or promptly remedy, (i) the occurrence or failure to occur, or the
impending or threatened occurrence or failure to occur, of any event which
occurrence or failure to occur would be likely to cause any of its
representations or warranties in this Agreement to be untrue or inaccurate in
any material respect (or in all respects in the case of any representation or
warranty containing any materiality qualification) at any time after the date of
this Agreement and (ii) any material failure (or any failure in the case of any
covenant, condition or agreement containing any materiality qualification) on
its part to comply with or satisfy any covenant, condition or agreement to be
complied with or satisfied by it under this Agreement. The delivery of any
notice pursuant to this Section 4.6 shall not limit or otherwise affect the
                        -----------
remedies available under this Agreement to any party receiving such notice.

     4.5  Registration of Shares. The Company and Purchaser shall enter into the
          ----------------------
Registration Rights Agreement in the form of Exhibit A (the "Registration Rights
                                             ---------
Agreement").

     4.6  Further Assurances. At any time or from time to time after the date of
          ------------------
this Agreement, the Company, on the one hand, and the Purchaser, on the other
hand, agree to cooperate with each other, and at the request of the other party,
to execute and deliver any further instruments or documents and to take all such
further action as the other party may reasonably request in order to evidence or
effectuate the consummation of the transactions contemplated by this Agreement
and to otherwise carry out the intent of the parties hereunder or thereunder.

                                   ARTICLE V

                           RESTRICTIONS ON TRANSFER

     5.1  Restrictions on Transfer. The Purchaser shall not, and shall ensure
          ------------------------
that its Affiliates do not, purchase, sell, transfer, assign, convey, gift,
mortgage, pledge, encumber, hypothecate or otherwise dispose of, directly or
indirectly ("Transfer"), any Purchased Shares except in accordance with the
provisions of this Agreement, including Section 3.5. Any purported Transfers of
                                        -----------
Shares in violation of this Article V shall be null and void.
                            ---------

                                       6
<PAGE>

     5.2  Compliance with Laws; Stop Order.
          --------------------------------

          (a)  The Purchaser shall, and shall ensure that its Affiliates shall,
observe and comply with the Securities Act and the Exchange Act and the
regulations promulgated thereunder and all other requirements of applicable Law
in connection with any permitted Transfer of the Purchased Shares, including all
requirements of applicable Law relating to the use of insider information or the
trading of securities while in the possession of nonpublic information.

          (b)  In order to enforce the provisions of this Article V, the Company
                                                          ---------
may impose stop transfer instructions with respect to all of the Purchased
Shares held by the Purchaser and the Purchased Shares of every other Person
subject to the foregoing restrictions.

                                  ARTICLE VI

                                  CONDITIONS

     6.1  Conditions to Obligations of the Purchaser and the Company at the
          -----------------------------------------------------------------
Closing. The obligations of the Purchaser and the Company to consummate the
-------
transactions contemplated hereby to be consummated at the Closing are subject to
the satisfaction or waiver at or prior to the Closing Date of each of the
following conditions:

          (a)  no preliminary or permanent injunction or other Order by any
Governmental Entity which prevents the consummation of the transactions
contemplated hereby shall have been issued and remain in effect (each party
agreeing to use its reasonable efforts to have any such injunction or Order
lifted);

          (b)  no statute, rule, regulation or other Law shall have been enacted
by any Governmental Entity which would prevent or make illegal the consummation
of the transactions contemplated by this Agreement;

          (c)  any consents, filings and approvals that are necessary for the
consummation of the transactions contemplated by this Agreement shall have been
made or obtained except where (i) the Company's failure to make or obtain such
consents, filings and approvals would not have a Material Adverse Effect or a
material adverse effect on the Company's ability to perform its obligations
under this Agreement or (ii) the Purchaser's failure to obtain such consents,
filings and approvals would not have a material adverse effect on the
Purchaser's ability to perform its obligations under this Agreement; and

          (d)  no suit, claim, investigation, action or other proceeding shall
be overtly threatened or pending against the Purchaser or the Company or any of
its subsidiaries before any Governmental Entity which reasonably could be
expected to result in the restraint or prohibition of any such party, or the
obtaining of damages or other relief from any such party, in connection with
this Agreement or the consummation of the transactions contemplated hereby or
thereby.

     6.2  Additional Conditions to Obligations of the Purchaser at the Closing.
          --------------------------------------------------------------------
The obligations of the Purchaser to consummate the transactions contemplated
hereby to be

                                       7
<PAGE>

consummated at the Closing shall be subject to the satisfaction or
waiver at or prior to the Closing Date of each of the following additional
conditions:

          (a)  the representations and warranties of the Company contained in
this Agreement shall have been true and correct in all respects at and as of the
date they were made, and shall be true and correct in all respects at and as of
such Closing Date (unless any such representations and warranties are stated to
be made as of a date other than the date hereof, in which case they shall have
been true and correct in all respects as of that date); provided, that this
condition shall be deemed satisfied unless the failure of such representations
and warranties to be true and correct in all respects would have, in the
aggregate, a Material Adverse Effect or would have, in the aggregate, a material
adverse effect on the Company's ability to perform its obligations under this
Agreement;

          (b)  the Company shall have performed, in all material respects, all
of its obligations contemplated herein to be performed by the Company on or
prior to the Closing Date;

          (c)  from the date hereof through the Closing Date, there shall not
have occurred, and be continuing, a Material Adverse Effect;

          (d)  the trading of the Common Stock shall not have been suspended by
the SEC or by any automated quotation system on which the Common Stock is
quoted;

          (e)  the Company Stockholder Approval shall have been obtained;

          (f)  the Company shall have delivered the following to the Purchaser:

               (i)    an officer's certificate certifying as to the Company's
     compliance with the conditions set forth in clauses (a), (b) and (c) of
                                                 -----------  ---     ---
     this Section 6.2;
          -----------

               (ii)   the Registration Rights Agreement, as signed by the
     Company; and

               (iii)  the certificates for the Purchased Shares.

     6.3  Additional Conditions to Obligations of the Company at the Closing.
          ------------------------------------------------------------------
The obligations of the Company to consummate the transactions contemplated
hereby to be consummated at the Closing shall be subject to the satisfaction or
waiver at or prior to the Closing Date of each of the following additional
conditions:

          (a)  the representations and warranties of the Purchaser contained in
this Agreement shall have been true and correct in all respects at and as of the
date they were made, and shall be true and correct in all respects at and as of
the Closing Date (unless any such representations and warranties are stated to
be made as of a date other than the date hereof, in which case they shall have
been true and correct in all respects as of that date); provided, that this
condition shall be deemed satisfied unless the failure of such representations
and warranties to be true and correct in all respects would have, in the
aggregate, a material adverse effect on the Purchaser's ability to perform its
obligations under this Agreement;

                                       8
<PAGE>

          (b)  the Purchaser shall have performed, in all material respects, all
of its obligations contemplated herein to be performed by the Purchaser on or
prior to the Closing Date;

          (c)  the Company Stockholder Approval shall have been obtained; and

          (d)  the Purchaser shall have delivered the following to the Company:

               (i)    the purchase price payable for the Purchased Shares;

               (ii)   an officer's certificate certifying as to the Purchaser's
     compliance with the conditions set forth in clauses (a) and (b) of this
                                                 -----------     ---
     Section 6.3; and
     -----------

               (iii)  such other documents as may be required by this Agreement
or reasonably requested by the Company.

                                  ARTICLE VII

                                  TERMINATION

     7.1  Termination.  This Agreement may be terminated at any time:
          -----------

          (a)  by mutual written agreement of the Company and the Purchaser;

          (b)  by the Company (i) upon a breach of any covenant or agreement on
the part of the Purchaser set forth in this Agreement or if any representation
or warranty of the Purchaser set forth in this Agreement shall not be true and
correct, in either case such that the conditions set forth in Section 6.3(a) or
                                                              --------------
6.3(b) would not be satisfied (a "Terminating Purchaser Breach"); provided, that
------
such Terminating Purchaser Breach shall not have been waived or cured by the
earlier of (x) the Closing Date or (y) within 30 days after written notice of
such Terminating Purchaser Breach is given to the Purchaser by the Company; (ii)
if any condition to the Company's obligations to close at the Closing set forth
in Article VI has not been satisfied as of the Closing or satisfaction of such a
   ----------
condition is or becomes impossible (other than because of the failure of the
Company to comply with its obligations under this Agreement), and the Company
has not waived such condition; and

          (c)  by the Purchaser: (i) upon a breach of any covenant or agreement
on the part of the Company set forth in this Agreement or if any representation
or warranty of the Company set forth in this Agreement shall not be true and
correct, in either case such that the conditions set forth in Section 6.2(a) or
                                                              --------------
6.2(b) would not be satisfied (a "Terminating Company Breach"); provided, that
------
such Terminating Company Breach shall not have been waived or cured by the
earlier of (x) the Closing Date or, (y) within 30 days after written notice of
such Terminating Company Breach is given to the Company by the Purchaser; (ii)
if any condition to the Purchaser's obligation to close set forth in Article VI
                                                                     ----------
has not been satisfied as of the Closing, or satisfaction of such a condition is
or becomes impossible (other than because of the failure of the Purchaser to
comply with its obligations under this Agreement), and the Purchaser has not
waived such condition.

                                       9
<PAGE>

     7.2  Effect of Termination. If this Agreement is terminated by either the
          ---------------------
Company or the Purchaser pursuant to the provisions of Section 7.1, this
                                                       -----------
Agreement shall forthwith become void and there shall be no further obligations
on the part of the Company or the Purchaser or their respective directors,
officers, employees, agents or representatives, except for the provisions of
Article VII and Sections 8.1, 8.2, 8.3, 8.4, 9.2, 9.5, 9.8, and 9.9, which shall
-----------     ------------  ---  ---  ---  ---  ---  ---      ---
survive any termination of this Agreement; provided, that nothing in this
Section 7.2 shall relieve either party from liability for any willful breach of
        ---
this Agreement.

     7.3  Extensions; Waiver.  At any time prior to the applicable compliance
          ------------------
time, each party may (i) extend the time for the performance of any of the
obligations or other acts of any other party, (ii) waive any inaccuracies in the
representations and warranties contained herein or in any document delivered
pursuant thereto and (iii) waive compliance with any of the agreements or
conditions herein. Any agreement on the part of a party to any such extension or
waiver shall be valid if set forth in an instrument in writing signed on behalf
of such party.

                                 ARTICLE VIII

                                INDEMNIFICATION

     8.1  Indemnification
          ---------------

          (a)  The Company shall indemnify and hold harmless the Purchaser, its
directors and officers, and each Person, if any, who controls the Purchaser
(within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act) against all losses, claims, damages, liabilities and expenses
(including reasonable attorneys' and accountants' fees, disbursements and
expenses, as incurred) (collectively, "Losses") incurred or suffered by such
party arising out of or based upon any breach of a representation or warranty or
breach of or failure to perform any covenant or agreement on the part of the
Company contained in this Agreement.

          (b)  The Purchaser shall indemnify and hold harmless the Company, its
directors and officers, and each Person, if any, who controls the Company
(within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act) against all Losses incurred or suffered by such party arising out
of or based upon any breach of a representation or warranty or breach of or
failure to perform any covenant or agreement on the part of the Purchaser
contained in this Agreement.

     8.2  Method of Asserting Indemnification for Third.  Any Person entitled to
          ---------------------------------------------
indemnification hereunder shall give prompt written notice to the indemnifying
party after the receipt by such indemnified party of any written notice of the
Party Claims commencement of any action, suit, proceeding or investigation or
threat thereof made in writing for which such indemnified party may claim
indemnification pursuant to this Agreement, provided that failure to give such
notification shall not affect the obligations of the indemnifying party pursuant
to this Article VIII except to the extent that the indemnifying party shall have
        ------------
been actually prejudiced as a result of such failure. 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 therein and, to the extent that it shall wish, jointly
with any other

                                      10
<PAGE>

indemnifying party similarly notified, to assume 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 so to assume
the defense thereof, the indemnifying party shall not be liable to such
indemnified party for any legal expenses of other counsel or any other expenses,
in each case subsequently incurred by such indemnified party, in connection with
the defense thereof other than reasonable costs of investigation, unless in the
reasonable judgment of any indemnified party, based on the written opinion of
counsel, a conflict of interest is likely to exist between the indemnifying
party and such indemnified party and any other of such indemnified parties with
respect to such claim, in which event the indemnifying party shall not be liable
for the fees and expenses of more than one counsel for all indemnified parties
selected by such parties (which selection shall be reasonably satisfactory to
the indemnifying party), in each case in connection with any one action or
separate but similar or related actions. An indemnifying party who is not
entitled to, or elects not to, assume the defense of a claim shall not be
obligated to pay the fees and expenses of more than one counsel for all parties
indemnified by such indemnifying party with respect to such claim, unless in the
reasonable judgment of any indemnified party, based on the written opinion of
counsel, a conflict of interest is likely to exist between the indemnified party
and any other of such indemnified parties with respect to such claim, in which
event the indemnifying party shall be obligated to pay the fees and expenses of
such additional counsel. No indemnifying party, in defense of any such action,
suit, proceeding or investigation, shall, except with the consent of each
indemnified party, consent to the entry of any judgment or entry into any
settlement which does not include as an unconditional term thereof the giving by
the claimant or plaintiff to such indemnified party of a release from all
liability in respect to such action, suit, proceeding or investigation to the
extent such liability is covered by the indemnity obligations set forth in this
Section 8.2. No indemnified party shall consent to entry of any judgment or
-----------
entry into any settlement without the consent of each indemnifying party.

     8.3  Method of Asserting Indemnification for Other Claims. In the event any
          ----------------------------------------------------
indemnified party should have a claim under Section 8.1 against the indemnifying
                                            -----------
party that does not involve a third party claim, the indemnified party shall
deliver a written notification of a claim for indemnity under Section 8.1
                                                              -----------
specifying the nature of and basis for such claim, together with the amount or,
if not then reasonably ascertainable, the estimated amount, determined in good
faith, of such claim (an "Indemnity Notice") with reasonable promptness to the
indemnifying party. The failure by any indemnified party to give the Indemnity
Notice shall not impair such party's rights under Section 8.1 except to the
                                                  -----------
extent that the indemnifying party shall have been actually prejudiced as a
result of such failure. If the indemnifying party notifies the indemnified party
that it does not dispute the claim or the amount of the claim described in such
Indemnity Notice or fails to notify the indemnified party within 30 calendar
days (the "Dispute Period") whether the indemnifying party disputes the claim or
the amount of the claim described in the Indemnity Notice, the Losses in the
amount specified in the Indemnity Notice shall be conclusively deemed a
liability of the indemnifying party under Section 8.1 and the indemnifying party
                                          -----------
shall pay the amount of such Losses to the indemnified party on demand.

                                      11
<PAGE>

     8.4  Limitations on Indemnification.
          ------------------------------

          (a)  Neither the Company nor the Purchaser shall have any obligation
under this Article VIII to indemnify any Person for lost profits or for
           ------------
consequential, incidental, punitive or exemplary damages.

          (b)  The indemnification provided in this Article VIII shall be the
                                                    ------------
sole and exclusive remedy for monetary damages available to the Company and the
Purchaser for matters for which indemnification is provided under this Article
                                                                       -------
VIII.
----

                                  ARTICLE IX

                                 MISCELLANEOUS

     9.1  Definitions.  The following terms, as used in this Agreement, shall
          -----------
have the following meanings:

     "Affiliate" shall have the meaning ascribed to such term in Rule 12b-2
under the Exchange Act.

     "Basic Subscription Privilege" shall mean the basic subscription privilege
as defined in the Company's Registration Statement on Form S-1, registration
number 333-70494.

     "Business Day" shall mean any day except Saturday, Sunday and any legal
holiday or a day on which banking institutions in New York City, New York
generally are authorized or required by law or other governmental actions to
close.

     "Company Board" shall mean the Board of Directors of the Company.

     "Company Proxy Statement" shall mean the definitive proxy statement of the
Company covering the issuance of the Company's securities in connection the
Rights Offering and the Exchange Offer and related items.

     "Company Stockholder Approval" shall mean the authorization or approval by
the holders of the Common Stock of the items submitted for stockholder approval
as provided in the Company Proxy Statement.

     "DGCL" shall mean the General Corporation Law of the State of Delaware, as
amended, or any successor statute, in each case as the same shall be in effect
at the time.

     "Exchange Act" shall mean the Securities Exchange Act of 1934, as amended,
or any successor federal statute, in each case as the same shall be in effect at
the time.

     "Exchange Offer" shall mean the certain offer of the Company to holders of
its senior subordinated notes due 2008 to exchange such notes for cash or a
combination of new notes due 2006, Common Stock and warrants.

                                      12
<PAGE>

     "Governmental Entity" shall mean any United States or state or local
judicial, legislative, executive, administrative or regulatory body or
authority.

     "Laws" shall mean all United States and state, and local laws, statutes,
ordinances, rules, regulations, orders, and decrees.

     "Material Adverse Effect" shall mean a material adverse effect on the
business, condition (financial or other) or results of operations of the Company
and its subsidiaries, taken as a whole.

     "Order" shall mean any order, judgment, injunction, edict, decree, ruling,
pronouncement, determination, decision, opinion, sentence, subpoena, writ or
award issued, made, entered or rendered by any court, administrative agency or
other Governmental Entity or by any arbitrator.

     "Oversubscription Privilege" shall mean the oversubscription privilege as
defined in the Company's Registration Statement on Form S-1, registration number
333-70494.

     "Person" shall mean any individual, firm, corporation, limited liability
company, partnership, company or other entity, and shall include any successor
(by merger or otherwise) of such entity.

     "Qualified Investor" shall mean either (i) a "qualified institutional
buyer" (within the meaning of Rule 144A under the Securities Act) or (ii) a
large institutional "accredited investor" (within the meaning of Rule 501(a)
under the Securities Act).

     "Securities Act" shall mean the Securities Act of 1933, as amended, or any
successor federal statute, in each case as the same shall be in effect at the
time.

     9.2  Restrictive Legends.
          -------------------

          (a)  Certificates representing any of the Purchased Shares issued in a
transaction exempt from the registration requirements of the Securities Act and
applicable state securities laws, or as to which the subsequent transfer or
disposition of such Purchased Shares shall require registration or qualification
thereof under the Securities Act or applicable state securities laws, shall bear
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 "SECURITIES
     ACT"), OR UNDER ANY APPLICABLE STATE SECURITIES LAWS, OR ARE
     SUBJECT TO RESTRICTIONS ON TRANSFER UNDER THE SECURITIES ACT OR
     SUCH LAWS. THE SHARES MAY NOT BE SOLD, PLEDGED, TRANSFERRED,
     ASSIGNED OR OTHERWISE DISPOSED OF EXCEPT IN A TRANSACTION WHICH IS
     EXEMPT UNDER THE PROVISIONS OF THE SECURITIES ACT OR ANY APPLICABLE
     STATE SECURITIES LAWS, OR PURSUANT TO AN EFFECTIVE REGISTRATION
     STATEMENT OR IN A TRANSACTION OTHERWISE IN COMPLIANCE WITH
     APPLICABLE FEDERAL AND STATE SECURITIES LAWS.

                                      13
<PAGE>

     9.3  Successors and Assigns.  Except as otherwise expressly provided
          ----------------------
herein, (i) 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, and (ii) no party may assign or delegate all or any portion of its rights,
obligations or liabilities under this Agreement without the prior written
consent of the other party to this Agreement.  Notwithstanding the foregoing,
but subject to the last sentence of this Section 9.3, Purchaser, without the
                                         -----------
prior written consent of the Company, may assign to other Persons (each, a
"Permitted Assignee") its rights to purchase the Unsold Allotment Shares at the
Closing and its related obligations, provided that as a condition to the
effectiveness of any such assignment, the Permitted Assignee shall: (i) be a
Qualified Investor, (ii) execute a counterpart signature page to this Agreement,
(iii) agree to be deemed a "Purchaser" bound by this Agreement (including all of
the terms, conditions and covenants of this Agreement that are applicable to the
Purchaser and to the Unsold Allotment Shares held by the Purchaser) and (iv)
agree to have made all of the representations and warranties of Purchaser set
forth in this Agreement (excluding the representations and warranties set forth
in Sections 3.6) and represent and warrant that it is a Qualified Investor. An
   ------------
assignment by Purchaser pursuant to the foregoing sentence, (i) shall not
relieve Purchaser of its obligation under Section 1.1 to purchase the Rights
                                          -----------
Offering Shares referred to therein and (ii) shall not relieve Purchaser of its
obligations under this Agreement to purchase the Unsold Allotment Shares agreed
to be purchased by the Permitted Assignee if any Permitted Assignee shall fail
to purchase the Unsold Allotment Shares assigned to it.  The rights and
obligations of Purchaser in this Section 9.3 shall not be assignable or
                                 -----------
otherwise transferable by Purchaser without the prior written consent of the
Company.

     9.4  Entire Agreement.  This Agreement constitute the full and entire
          ----------------
understanding and agreement between the parties with regard to the subjects
hereof, and no party shall be liable or bound to any other in any manner by any
representations, warranties, covenants and agreements except as specifically set
forth herein and therein.

     9.5  Notices.  All notices, demands, requests, consents or other
          -------
communications to be given or delivered under or by reason of the provisions of
this Agreement shall be in writing and shall be deemed to have been given when
(i) delivered personally to the recipient, (ii) telecopied to the recipient
(with hard copy sent to the recipient by reputable overnight courier service
(charges prepaid) that same day) if telecopied before 5:00 p.m. New York City
time on a Business Day, and otherwise on the next Business Day, or (iii) one
Business Day after being sent to the recipient by reputable overnight courier
service (charges prepaid).  Such notices, demands, requests, consents and other
communications shall be sent to the following Persons at the following
addresses:

               (i)  if to the Company, to:

                    Aviation Sales Company
                    623 Radar Road
                    Greensboro, North Carolina  27410
                    Facsimile No. _______________
                    Attention: __________________

                                      14
<PAGE>

                    with a copy to:

                    Akerman, Senterfitt & Eidson, P.A.
                    One Southeast Third Avenue
                    28th Floor
                    Miami, Florida  33131
                    Facsimile No. (305) 374-5095
                    Attention: Philip B. Schwartz, Esq.

               (ii) if to the Purchaser, to:

                    LJH Corporation
                    _____________________________
                    _____________________________
                    Attention:___________________
                    Facsimile No.: ______________
                    Attention: __________________

or to such other address or to the attention of such other person as the
recipient party has specified by prior written notice to the sending party.
Notices, demands, requests, consents or other communications required or desired
to be delivered to any permitted transferee of the Purchaser having rights or
obligations pursuant to this Agreement shall be addressed to such Person at the
address and/or to the attention of such person as such Person shall designate by
written notice to the Company.

     9.6  Amendments; Waivers.  The provisions of this Agreement, including the
          -------------------
provisions of this sentence, may not be amended, modified or supplemented, and
waivers or consents to departures from the provisions hereof may not be given
without the written consent thereto of the Company and Purchaser.

     9.7  Counterparts.  This Agreement may be executed simultaneously in two or
          ------------
more counterparts, any one of which need not contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the
same Agreement.

     9.8  Governing Law.  This Agreement shall be governed in all respects,
          -------------
including validity, interpretation and effect, by the laws of the State of
Delaware applicable to contracts executed and to be performed wholly within such
state.

     9.9  Exclusive Jurisdiction; Venue.  Each of the Company and the Purchaser
          -----------------------------
hereby irrevocably submits in any suit, action or proceeding arising out of or
relating to this Agreement or any of the transactions contemplated hereby to the
exclusive jurisdiction and venue of the federal and state courts of the State of
Delaware and irrevocably waives any and all objections to exclusive jurisdiction
and review of venue that any such party may have under the laws of the State of
Delaware or the United States.  Without limiting the other remedies, this
Agreement shall be enforceable by specific performance.

                                      15
<PAGE>

                           [Signature page follows]

                                      16
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have duly executed and delivered
this Agreement as of the date first above written.

                                    Company:

                                    AVIATION SALES COMPANY

                                    By: __________________________________

                                    Name: ________________________________

                                    Title: _______________________________

                                    Purchaser:

                                    LJH CORPORATION

                                    By: __________________________________

                                    Name: ________________________________

                                    Title: _______________________________

                                      17<PAGE>

                                                                    Exhibit 10.4

                         REGISTRATION RIGHTS AGREEMENT
                         -----------------------------

     THIS REGISTRATION RIGHTS AGREEMENT ("Agreement") is made and entered into
as of October ____, 2001, among Aviation Sales Company, a Delaware corporation
(the "Company"), and LJH Corporation, a _________ corporation ("LJH"), and its
assigns set forth in Schedule "1" hereto.

                                   RECITALS
                                   --------

     1.   LJH and the stockholders set forth in Schedule "1" hereto
(collectively, the "Stockholders") have purchased and own shares of the
Company's common stock, par value $.001 per share (the "Common Stock"), in the
amounts set forth in Schedule "1" pursuant to the Agreement of Commitment to
Exercise Rights between the Company and LJH ("Commitment Agreement").

     2.   Pursuant to the Commitment Agreement, the Company desires to grant to
the Stockholders registration rights for the Registrable Securities (as herein
defined) under the terms and conditions set forth herein.

                                   AGREEMENT
                                   ---------

     In consideration of the premises and of the terms and conditions herein
contained, the parties hereto mutually agree as follows:

                                  DEFINITIONS
                                  -----------

     As used herein, the following terms shall have the following respective
meanings:

     "Commission" means the United States Securities and Exchange Commission or
any successor Governmental Body.

     "Cutback Registration" means any Requested Registration or Piggyback
Registration to be effected as an underwritten Public Offering in which the
Managing Underwriter with respect thereto advises the Company and the Requesting
Holder(s) in writing that, in its reasonable opinion, the number of securities
requested to be included in such registration (including securities of the
Company or other security holders that are not Registrable Securities) exceeds
the number that can reasonably be sold in such offering without a reduction in
the selling price anticipated to be received for the securities to be sold in
such Public Offering.

     "Effective Registration" means a Requested Registration that has been
declared or ordered effective in accordance with the rules of the Commission.

     "Exchange Act" means the Securities Exchange Act of 1934, as amended, and
the rules and regulations promulgated thereunder.

     "GAAP" means generally accepted accounting principles, applied on a
consistent basis.
<PAGE>

     "Governmental Body" means any federal, state, municipal or other
governmental department, commission, board, bureau, agency or instrumentality.

     "Indemnified Party" means a party entitled to indemnity in accordance with
Section 2.6.
-----------

     "Indemnifying Party" means a party obligated to provide indemnity in
accordance with Section 2.6.
                -----------

     "Inspectors" has the meaning ascribed to it in Section 2.3(j).
                                                    --------------

     "Losses" has the meaning ascribed to it in Section 2.6(a).
                                                --------------

     "Managing Underwriter" means, with respect to any Public Offering, the
underwriter or underwriters managing such Public Offering.

     "NASD" means the National Association of Securities Dealers.

     "Notice of Piggyback Registration" has the meaning ascribed to it in
Section 2.2 (a).
---------------

     "Person" means any individual, corporation, partnership, association, trust
or other entity or organization, including a government or political subdivision
or an agency or instrumentality thereof.

     "Piggyback Registration" means any registration of equity securities of the
Company of the same class as the Registrable Securities under the Securities Act
(other than a registration (i) in respect of a dividend reinvestment or similar
plan for stockholders of the Company, on (ii) Form S-4 or Form S-8 promulgated
by the Commission, or any successor forms thereto), (iii) in respect to the
Warrant Shares, or (iv) in respect to the shares of Common Stock to be sold by
certain Company stockholders as provided in the Company's registration statement
on Form S-1, registration number 333-_________), whether for sale for the
account of the Company or for the account of any holder of securities of the
Company (other than Registrable Securities).

     "Public Offering" means any offering of Common Stock to the public, either
on behalf of the Company or any or its securityholders, pursuant to an effective
registration statement under the Securities Act.

     "Records" has the meaning ascribed to it in Section 2.3(j).
                                                 --------------

     "Registrable Securities" means (i) the Common Stock listed in Schedule "1"
hereto held by the Stockholders; and (ii) any additional shares of Common Stock
issued or distributed by way of a dividend, stock split or other distribution in
respect of the securities under subsection (i) above or acquired by way of any
rights offering or similar offering made in respect of the securities under
subsections (i) above.  As to any particular Registrable Securities, once
issued, such securities shall cease to be Registrable Securities when (i) a
registration statement with respect to the sale of such securities shall have
become effective under the Securities Act and such securities shall have been
disposed of in accordance with such registration statement, (ii) such securities
shall have been distributed to the public pursuant to Rule 144, (iii) such
securities shall have ceased to be

                                      -2-
<PAGE>

outstanding or (iv) such securities can be distributed to the public without
restrictions of any kind pursuant to Rule 144(k) promulgated by the Commission
under the Securities Act.

     "Registration Expenses" means all expenses incident to the Company's
performance of or compliance with its obligations under this Agreement to effect
the registration of Registrable Securities in a Requested Registration or a
Piggyback Registration, including, all registration, filing, securities exchange
listing and NASD fees, all registration, filing, qualification and other fees
and expenses of complying with securities or blue sky laws, all printing
expenses, the fees and disbursements of counsel for the Company and of its
independent public accountants, including the expenses of any "cold comfort"
letters required by or incident to such performance and compliance. Registration
Expenses expressly exclude, however, underwriting or selling commissions or
fees, transfer taxes, fees and disbursements of counsel to the Requesting
Holder(s) and any other fees and disbursements incurred by the Requesting
Holders solely in their discretion.

     "Requesting Holder(s)" means, with respect to any Requested Registration or
Piggyback Registration, the Holder(s) of Registrable Securities requesting to
have Registrable Securities included in such registration in accordance with
this Agreement.

     "Requested Registration" means any registration of Registrable Securities
under the Securities Act effected in accordance with Section 2.1.
                                                     -----------

     "Rule 144" means Rule 144 promulgated by the Commission under the
Securities Act, and any successor provision thereto.

     "Securities" means the Common Stock.

     "Securities Act" means the Securities Act of 1933, as amended, and all
rules and regulations thereunder.

SECTION 1.  Company's Obligation to Effect Registration. Immediately following
            -------------------------------------------
the date hereof, the Company shall commence the preparation of and file as
promptly thereafter as practicable, a registration statement on Form S-1, or S-
3, if the Company is then eligible to use the Form S-3 (or such other form as
the Company and its counsel may select), so as to permit the resale by such
Holders of all Registrable Securities pursuant to such registration statement
and, in any event, the Company shall use its reasonable efforts to file the
registration statement with the Commission by June 30, 2002.]

                                      -3-
<PAGE>

SECTION 2.  Registration Rights.
            -------------------

     2.1    Requested Registrations.
            -----------------------

            (a) Registration Requests.  If the Company fails to file the
                ---------------------
registration statement with the Commission referred to in Section 1 hereof, at
any time and from time to time after June 30, 2002], upon the written request of
Holders owning at least thirty three and one-third percent (33 1/3%) of the
Registrable Securities (the "Necessary Holders") that the Company effect the
registration under the Securities Act of all or part of such Holders'
Registrable Securities (which request shall specify the number of Registrable
Securities which the Requesting Holder proposes the Company to register and the
Requesting Holders' intended method of disposition thereof, which shall be no
less than thirty three and one-third percent of the Registrable Securities), the
Company shall use reasonable efforts to effect the registration under the
Securities Act of the Registrable Securities which the Company has been so
requested by the Requesting Holders to register so as to permit their
disposition pursuant to such registration and to effect the registration in
accordance with the Requesting Holders' intended method of disposition of such
Registrable Securities.  If requested by the Requesting Holders, the method of
disposition of all Registrable Securities included in such registration shall be
in an underwritten offering effected in accordance with Section 2.4(a).
                                                        --------------
Notwithstanding the foregoing, the Company may postpone effecting a Requested
Registration for a reasonable period of time (not to exceed sixty (60) days)
after receipt of the Necessary Holders' written request therefor if:  (a) the
Board of Directors of the Company in good faith resolves that effecting the
registration would require the Company to make public disclosure of material,
non-public information that, if publicly disclosed, would have a material
adverse effect upon a material corporate development or transaction then pending
or in progress that involves the Company; and (b) the Company notifies the
Requesting Holders in writing, within five (5) days after the Necessary Holders
have requested such registration, of such postponement and the grounds therefor;
provided that the Company shall not postpone effecting such registration
--------
pursuant to this sentence more than once in any twelve (12) month period; and,
provided, further, that the Company shall promptly proceed with its obligations
--------  -------
hereunder to effect such registration once such information is publicly
disclosed or the disclosure of such information is not likely to have a material
adverse effect upon such corporate development or transaction.  The Company and
other securityholders who hold piggyback registration rights shall have the
right to include any of the Company's Securities (other than Registrable
Securities) in a registration statement to be filed as part of a Requested
Registration subject in all events to subsection (e) below.

            (b) Maximum Number of Requested Registrations Per Holder.
                ----------------------------------------------------
Notwithstanding anything herein to the contrary, the Company will not be
required to honor a Holder's request for a Requested Registration if the Company
has previously effected two (2) Effective Registrations under this Section 2.1.
                                                                   -----------

            (c) Registration Statement Form.  The Requested Registration shall
                ---------------------------
be on such appropriate registration form promulgated by the Commission as shall
be selected by the Company that shall permit the disposition of such Registrable
Securities in accordance with the intended method or methods specified in the
Requesting Holder's request for such registration.

                                      -4-
<PAGE>

          (d)  Registration Expenses.  The Company will pay all Registration
               ---------------------
Expenses incurred in connection with any Requested Registration.

          (e)  Priority in Cutback Registrations.  If a Requested Registration
               ---------------------------------
becomes a Cutback Registration, the Company will include in any such
registration to the extent of the number which the Managing Underwriter advises
the Company can be sold in such offering (i) first, Registrable Securities
                                             -----
requested to be included by the Requesting Holder, and (ii) second, other
                                                            ------
securities of the Company, if permitted, proposed to be included in such
registration, allocated among the Company and the holders thereof in accordance
with the priorities then existing among the Company and the holders of such
other securities; and any securities so excluded shall be withdrawn from and
shall not be included in such Requested Registration.

     2.2  Piggyback Registrations.
          -----------------------

          (a)  Right to Include Registrable Securities.  Notwithstanding any
               ---------------------------------------
limitation contained in Sections 1 or 2.1, if the Company at any time proposes
                        -----------------
to effect a Piggyback Registration after [June 30, 2002], it will each such time
give prompt written notice (a "Notice of Piggyback Registration"), at least
twenty (20) days prior to the anticipated filing date, to all Holders of
Registrable Securities of its intention to do so and of such Holders' rights
under this Section 2.2, which Notice of Piggyback Registration shall include a
           -----------
description of the intended method of disposition of such securities.  Upon the
written request of any Holder made within fifteen (15) days after receipt of a
Notice of Piggyback Registration (which request shall specify the Registrable
Securities intended to be disposed of by such Holder and, subject to the
provisions of Section 2.3(b), the intended method of disposition thereof), the
              --------------
Company will use its reasonable efforts to include in the registration statement
relating to such Piggyback Registration all Registrable Securities which the
Company has been so requested to register.  Notwithstanding the foregoing, if,
at any time after giving a Notice of Piggyback Registration and prior to the
effective date of the registration statement filed in connection with such
registration, the Company determines for any reason not to register or to delay
registration of such securities, the Company may, at its election, give written
notice of such determination to each Holder of Registrable Securities and,
thereupon, (i) in the case of a determination not to register, the Company will
be relieved of its obligation to register any Registrable Securities in
connection with such registration (but not from its obligation to pay the
Registration Expenses in connection therewith), and (ii) in the case of a
determination to delay registering, the Company shall be permitted to delay
registering any Registrable Securities for the same period as the delay in
registering such other securities.  No registration effected under this Section
                                                                        -------
2.2 shall relieve the Company of its obligations to effect a Requested
---
Registration under Section 2.1.
                   -----------

          (b)  Registration Expenses.  The Company will pay all Registration
               ---------------------
Expenses incurred in connection with each Piggyback Registration.

          (c)  Priority in Cutback Registrations.  If a Piggyback Registration
               ---------------------------------
becomes a Cutback Registration, the Company will include in such registration to
the extent of the amount of the securities which the Managing Underwriter
advises the Company can be sold in such offering: (1) first, if such
                                                      -----
registration as initially proposed by the Company was primarily a registration
of its securities for its own account, the securities proposed by the Company to
be sold for its own

                                      -5-
<PAGE>

account; (2) second, if such registration was primarily a registration of
             ------
securities pursuant to the demand registration rights of a third party, the
securities proposed to be sold for such party's account; and (3) third, any
                                                                 -----
Registrable Securities and other securities requested to be included in such
registration by Requesting Holders or other Persons holding registration rights,
pro rata on the basis of the number of securities sought to be sold by
--- ----
Requesting Holders or other Persons holding registration rights.

     2.3  Registration Procedures.  If and whenever the Company is required to
          -----------------------
use its reasonable efforts to effect the registration of any Registrable
Securities under the Securities Act pursuant to Section 2.1 or Section 2.2, the
                                                -----------    -----------
Company shall use its reasonable efforts to effect the registration of such
Registrable Securities in accordance with the intended methods of disposition
thereof specified by the Requesting Holder(s).  Without limiting the foregoing,
the Company in each such case will use its reasonable efforts to, as
expeditiously as possible:

          (a)  prepare and file with the Commission the requisite registration
statement to effect such registration and use reasonable efforts to cause such
registration statement to become effective;

          (b)  prepare and file with the Commission such amendments and
supplements to such registration statement and any prospectus used in connection
therewith as may be reasonably necessary to maintain the effectiveness of such
registration statement and to comply with the provisions of the Securities Act
with respect to the disposition of all Registrable Securities covered by such
registration statement, in accordance with the intended methods of disposition
thereof, until such time as all of such securities have been disposed of in
accordance with the intended methods of disposition by the seller or sellers
thereof set forth in such registration statement;

          (c)  promptly notify each Requesting Holder and the underwriter or
underwriters, if any:

               (1)  when such registration statement or any prospectus used in
connection therewith, or any amendment or supplement thereto, has been filed
and, with respect to such registration statement or any post-effective amendment
thereto, when the same has become effective;

               (2)  of any written comments from the Commission with respect to
any filing referred to in clause (1) above and of any written request by the
Commission for amendments or supplements to such registration statement or
prospectus;

               (3)  of the notification to the Company by the Commission of its
initiation of any proceeding with respect to the issuance by the Commission of,
or of the issuance by the Commission of, any stop order suspending the
effectiveness of such registration statement; and

               (4)  of the receipt by the Company of any notification with
respect to the suspension of the qualification or registration of any
Registrable Securities for sale under the applicable securities or blue sky laws
of any jurisdiction;

                                      -6-
<PAGE>

          (d)  furnish to each seller of Registrable Securities covered by such
registration statement such number of conformed copies of such registration
statement and of each amendment and supplement thereto (in each case including
all exhibits and documents incorporated by reference), such number of copies of
the prospectus contained in such registration statement (including each
preliminary prospectus and any summary prospectus) and any other prospectus
filed under Rule 424 (or any successor rule) promulgated under the Securities
Act relating to such Holder's Registrable Securities, and such other documents,
as such seller may reasonably request to facilitate the disposition of its
Registrable Securities;

          (e)  unless otherwise exempt from such requirements in such applicable
jurisdictions, use its reasonable efforts to register or qualify all Registrable
Securities covered by such registration statement under such other securities or
blue sky laws of such jurisdictions as each Holder thereof shall reasonably
request, to keep such registration or qualification in effect for so long as
such registration statement remains in effect, and take any other action which
may be reasonably necessary or advisable to enable such Holder to consummate the
disposition in such jurisdictions of the Registrable Securities owned by such
Holder, except that the Company will not for any such purpose be required to (i)
qualify generally to do business as a foreign corporation in any jurisdiction
wherein it would not but for the requirements of this Section 2.3(e) be
                                                      --------------
obligated to be so qualified, (ii) subject itself to taxation in any such
jurisdiction or (iii) consent to general service of process in any jurisdiction;

          (f)  use its reasonable efforts to cause all Registrable Securities
covered by such registration statement to be registered with or approved by such
other Governmental Body as may be necessary to enable each Holder thereof to
consummate the disposition of such Registrable Securities;

          (g)  in an underwritten public offering, furnish to each Requesting
Holder a signed counterpart, addressed to such Holder (and the underwriters, if
any), of

               (1)  an opinion of counsel for the Company, dated the effective
date of such registration statement, reasonably satisfactory in form and
substance to such Holder, and

               (2)  a "comfort" letter, dated the effective date of such
registration statement, signed by the independent public accountants who have
certified the Company's financial statements included in such registration
statement,

     in each case covering substantially the same matters with respect to such
     registration statement (and the prospectus included therein) and, in the
     case of the accountants' letter, with respect to events subsequent to the
     date of such financial statements, as are customarily covered in opinions
     of issuer's counsel and in accountants' letters delivered to the
     underwriters in underwritten Public Offerings of securities, and in the
     case of the accountants' letter, such other financial matters as such
     Holder (or underwriters, if any) may reasonably request;

          (h)  notify each Holder of Registrable Securities covered by such
registration statement, at any time when a prospectus relating thereto is
required to be delivered under the

                                      -7-
<PAGE>

Securities Act, of the happening of any event as a result of which any
prospectus included 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, in
the light of the circumstances under which they were made, not misleading, and
at the request of any Holder promptly prepare and furnish to such Holder a
reasonable number of copies of a supplement to or an amendment of such
prospectus as may be necessary so that, as thereafter delivered to the
purchasers of such securities, such prospectus will not include an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading;

          (i)  otherwise use the Company's reasonable efforts to comply with all
applicable rules and regulations of the Commission;

          (j)  provide a transfer agent and registrar for all Registrable
Securities covered by such registration statement not later than the effective
date of such registration statement;

          (k)  use the Company's reasonable efforts to cause all Registrable
Securities covered by such registration statement to be listed, upon official
notice of issuance, on any securities quotation system on which any of the
securities of the same class as the Registrable Securities are then quoted;

          (l)  the Company may require each Holder of Registrable Securities as
to which any registration is being effected to, and each such Holder, as a
condition to including Registrable Securities in such registration, will,
furnish the Company with such information and affidavits regarding such Holder
and the distribution of such Securities as the Company may from time to time
reasonably request in writing in connection with such registration; and

          (m)  each Holder of Registrable Securities agrees by acquisition of
such Registrable Securities that upon receipt of any notice from the Company of
the happening of any event of the kind described in Section 2.3(h), such Holder
                                                    --------------
will forthwith discontinue such Holder's disposition of Registrable Securities
pursuant to the registration statement relating to such Registrable Securities
until such Holder's receipt of the copies of the supplemented or amended
prospectus contemplated by Section 2.3(h) and, if so directed by the Company,
                           --------------
will deliver to the Company (at the Company's expense) all copies, other than
permanent file copies, then in such Holder's possession of the prospectus
relating to such Registrable Securities current at the time of receipt of such
notice.  In the event the Company shall give any such notice, then any periods
of time in which any Holder is required to take or refrain from taking any
action referred to in this Agreement shall be deemed to be extended by a number
of days equal to the number of days during the period from and including the
giving of notice pursuant to Section 2.3(h) and to and including the date when
                             --------------
each holder of any Registrable Securities covered by such registration statement
will receive the copies of the supplemented or amended prospectus contemplated
by Section 2.3(h).
   --------------

     2.4  Underwritten Offerings.
          ----------------------

          (a)  Underwritten Requested Offerings. In the case of any underwritten
               --------------------------------
Public Offering being effected pursuant to a Requested Registration, the
Managing Underwriter and any

                                      -8-
<PAGE>

other underwriter or underwriters with respect to such offering will be selected
by the Company with the prior written approval of the Holders of a majority of
the Registrable Securities to be included in such underwritten offering which
approval shall not be unreasonably withheld. The Company will enter into an
underwriting agreement in customary form with such underwriter or underwriters,
which will include, among other provisions, indemnities to the effect and to the
extent provided in Section 2.6. The Holders of Registrable Securities to be
                   -----------
distributed by such underwriters will be parties to such underwriting agreement
and may, at their option, require that any or all of the representations and
warranties by, and the other agreements on the part of, the Company to and for
the benefit of such underwriters also be made to and for their benefit and that
any or all of the conditions precedent to the obligations of such underwriters
under such underwriting agreement also be conditions precedent to their
obligations. No Holder of Registrable Securities will be required to make any
representations or warranties to or agreements with the Company or the
underwriters other than representations, warranties or agreements regarding such
Holder and such Holder's ownership of the Securities being registered on its
behalf and such Holder's intended method of distribution and any other
representation required by law. No Requesting Holder may participate in such
underwritten offering unless such Holder agrees to sell its Registrable
Securities on the basis provided in such underwriting agreement and completes
and executes all questionnaires, powers of attorney, indemnities and other
documents reasonably required under the terms of such underwriting agreement. If
any Requesting Holder disapproves of the terms of an underwriting, such Holder
may elect to withdraw therefrom and from such registration by notice to the
Company and the Managing Underwriter, and each of the remaining Requesting
Holders will be entitled to increase the number of Registrable Securities being
registered to the extent of the Registrable Securities so withdrawn in the
proportion which the number of Registrable Securities being registered by such
remaining Requesting Holder bears to the total number of Registrable Securities
being registered by all such remaining Requesting Holders.

          (b)  Underwritten Piggyback Offerings.  If the Company at any time
               --------------------------------
proposes to register any of its securities in a Piggyback Registration and such
securities are to be distributed by or through one or more underwriters, the
Company will, subject to the provisions of Section 2.2(c), arrange for such
                                           --------------
underwriters to include the Registrable Securities to be offered and sold by
such Holder among the securities to be distributed by such underwriters.  All
Registrable Securities included in such a Piggyback Registration must be
distributed through such underwriters in the same manner as all other securities
are being distributed in such Public Offering.  The Holders of Registrable
Securities to be distributed by such underwriters will be parties to the
underwriting agreement between the Company and such underwriter or underwriters
and may, at their option, require that any or all of the representations and
warranties by, and the other agreements on the part of, the Company to and for
the benefit of such underwriters also be made to and for their benefit and that
any or all of the conditions precedent to the obligations of such underwriters
under such underwriting agreement also be conditions precedent to their
obligations.  No Holder of Registrable Securities will be required to make any
representations or warranties to or agreements with the Company or the
underwriters other than representations, warranties or agreements regarding such
Holder and such Holder's ownership of the securities being registered on its
behalf and such Holder's intended method of distribution and any other
representation required by law.  No Requesting Holder may participate in such
underwritten offering unless such Holder agrees to sell its Registrable
Securities on the basis provided in such underwriting agreement and completes
and executes all questionnaires, powers of attorney, indemnities and other
documents reasonably required under the

                                      -9-
<PAGE>

terms of such underwriting agreement. If any Requesting Holder disapproves of
the terms of an underwriting, such Holder may elect to withdraw therefrom and
from such registration by notice to the Company and the Managing Underwriter,
and each of the remaining Requesting Holders will be entitled to increase the
number of Registrable Securities being registered to the extent of the
Registrable Securities so withdrawn in the proportion which the number of
Registrable Securities being registered by such remaining Requesting Holder
bears to the total number of Registrable Securities being registered by all such
remaining Requesting Holders.

     2.5  Holdback Agreements.
          -------------------

          (a) Registrable Securities.  If and to the extent requested by the
              ----------------------
Managing Underwriter, each Holder of Registrable Securities, by acquisition of
such Registrable Securities, agrees, to the extent permitted by law, not to
effect any public sale or distribution (including a sale under Rule 144) of such
Securities, or any Securities convertible into or exchangeable or exercisable
for such Securities, during the ten (10) days prior to and the ninety (90) days
after the effective date of any registration statement filed by the Company in
connection with an underwritten Public Offering (or for such shorter period of
time as is sufficient and appropriate, in the opinion of the Managing
Underwriter, in order to complete the sale and distribution of the Securities
included in such registration), except as part of such registration statement,
whether or not such Holder participates in such registration.

          (b) By the Company.  If and to the extent requested by the Managing
              --------------
Underwriter, the Company agrees not to effect any public or private sale or
distribution of its equity Securities, or any Securities convertible into or
exchangeable or exercisable for such Securities, during the ten (10) days prior
to and up to one hundred-eighty (180) days after the effective date of the
registration statement filed in connection with an underwritten offering made
pursuant to a Requested Registration or a Piggyback Registration (or for such
shorter period of time as is sufficient and appropriate, in the opinion of the
Managing Underwriter, in order to complete the sale and distribution of the
securities included in such registration), except as part of such underwritten
registration and except pursuant to registrations on Form S-4 or Form S-8
promulgated by the Commission or any successor or similar forms thereto.

          (c) Exception.  The foregoing provisions will not apply to any Holder
              ---------
of securities of the Company to the extent such Holder is prohibited by
applicable law from agreeing to withhold from sale.

     2.6  Indemnification.
          ---------------

          (a) Indemnification by the Company.  The Company will, to the full
              ------------------------------
extent permitted by law, indemnify and hold harmless each Holder of Registrable
Securities included in any registration statement filed in connection with a
Requested Registration or a Piggyback Registration, its directors and officers,
and each other Person, if any, who controls any such seller within the meaning
of the Securities Act, against any losses, claims, damages, expenses or
liabilities, joint or several (together, "Losses"), to which such Holder or any
                                          ------
such director or officer or controlling Person may become subject under the
Securities Act or otherwise, insofar as such Losses (or actions or proceedings,
whether commenced or threatened, in respect thereof) arise out of or are

                                      -10-
<PAGE>

based upon any untrue or alleged untrue statement of any material fact contained
in any such registration statement, any preliminary prospectus, final prospectus
or summary prospectus contained therein, or any amendment or supplement thereto,
or any or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein (in the case of a
prospectus, in the light of the circumstances under which they were made) not
misleading, and the Company will reimburse such Holder and each such director,
officer and controlling Person for any legal or any other expenses reasonably
incurred by them in connection with investigating or defending any such Loss (or
action or proceeding in respect thereof); provided that the Company will not be
                                          --------
liable in any such case to the extent that any such Loss (or action or
proceeding in respect thereof) arises out of or is based upon an untrue
statement or omission made in any such registration statement, preliminary
prospectus, final prospectus, summary prospectus, amendment or supplement in
reliance upon or in conformity with written information furnished to the Company
by or on behalf of such Holder. Such indemnity will remain in full force and
effect regardless of any investigation made by or on behalf of such Holder or
any such director, officer or controlling Person, and will survive the transfer
of such Securities by such Holder. The Company will also indemnify each other
Person who participates (including as an underwriter) in the offering or sale of
Registrable Securities, their officers and directors and each other Person, if
any, who controls any such participating Person within the meaning of the
Securities Act to the same extent as provided above with respect to sellers of
Registrable Securities.

          (b) Indemnification by the Sellers.  Each Holder of Registrable
              ------------------------------
Securities which are included or are to be included in any registration
statement filed in connection with a Requested Registration or a Piggyback
Registration, as a condition to including Registrable Securities in such
registration statement, will, to the full extent permitted by law, indemnify and
hold harmless the Company, its directors and officers, and each other Person, if
any, who controls the Company within the meaning of the Securities Act, against
any Losses to which the Company or any such director or officer or controlling
Person may become subject under the Securities Act or otherwise, insofar as such
Losses (or actions or proceedings, whether commenced or threatened, in respect
thereof) arise out of or are based upon any untrue statement of any material
fact contained in any such registration statement, any preliminary prospectus,
final prospectus or summary prospectus contained therein, or any amendment or
supplement thereto, or any omission to state therein a material fact required to
be stated therein or necessary to make the statements therein (in the case of a
prospectus, in the light of the circumstances under which they were made) not
misleading, if such untrue statement or omission was made in reliance upon and
in conformity with written information furnished to the Company by or on behalf
of such Holder; provided however, that the obligation to provide indemnification
                -------- -------
pursuant to this Section 2.6(b) will be several, and not joint and several,
                 --------------
among such Indemnifying Parties on the basis of the number of Registrable
Securities included in such registration statement.  Such indemnity will remain
in full force and effect regardless of any investigation made by or on behalf of
the Company or any such director, officer or controlling Person and will survive
the transfer of such securities by such Holder.  Such Holders will also
indemnify each other Person who participates (including as an underwriter) in
the offering or sale of Registrable Securities, their officers and directors and
each other Person, if any, who controls any such participating Person within the
meaning of the Securities Act to the same extent as provided above with respect
to the Company.

                                      -11-
<PAGE>

          (c) Notice of Claims, etc.  Promptly after receipt by an Indemnified
              ---------------------
Party of notice of the commencement of any action or proceeding involving a
claim referred to in Section 2.6(a) or Section 2.6(b), such Indemnified Party
                     --------------    --------------
will, if a claim in respect thereof is to be made against an Indemnifying Party
pursuant to such paragraphs, give written notice to the latter of the
commencement of such action, provided that the failure of any Indemnified Party
                             --------
to give notice as provided herein will not relieve the Indemnifying Party of its
obligations under the preceding paragraphs of this Section 2.6, except to the
                                                   -----------
extent that the Indemnifying Party is actually prejudiced by such failure to
give notice.  In case any such action is brought against an Indemnified Party,
the Indemnifying Party will be entitled to participate in and, unless a conflict
of interest between such Indemnified Party and any Indemnifying Party exists
with respect to such claim, to assume the defense thereof, jointly with any
other Indemnifying Party similarly notified to the extent that it may wish, with
counsel reasonably satisfactory to such Indemnified Party, and after notice from
the Indemnifying Party to such Indemnified Party of its election so to assume
the defense thereof, the Indemnifying Party will not be liable to such
Indemnified Party for any legal or other expenses subsequently incurred by the
latter in connection with the defense thereof other than reasonable costs of
investigation; provided that the Indemnified Party may participate in such
               --------
defense at the Indemnified Party's expense; and provided further that the
                                                -------- -------
Indemnified Party or Indemnified Parties will have the right to employ one
counsel to represent it or them if they have legal defenses which are different
from or in addition to those available to the Indemnifying Party, and in that
event the reasonable fees and expenses of such one counsel will be paid by the
Indemnifying Party.  If the Indemnifying Party is not entitled to, or elects not
to, assume the defense of the claim, it will not be obligated to pay the fees
and expenses of more than one counsel for the Indemnified Parties with respect
to such claim, unless in the reasonable judgment of any Indemnified Party a
conflict of interest may exist between such Indemnified Party and any other
Indemnified Parties with respect to such claim, in which event the Indemnifying
Party will be obligated to pay the fees and expenses of such additional counsel
for the Indemnified Parties.  No Indemnifying Party will consent to entry of any
judgment or enter into any settlement without the consent of the Indemnified
Party, unless only money damages are involved, and in any event such consent
will not be unreasonably withheld. No Indemnifying Party will be subject to any
liability for any settlement made without its consent, which consent will not be
unreasonably withheld.

          (d) Contribution.  If the indemnity and reimbursement obligation
              ------------
provided for in any paragraph of this Section 2.6 is unavailable or insufficient
                                      -----------
to hold harmless an Indemnified Party in respect of any Losses (or actions or
proceedings in respect thereof) referred to therein, then the Indemnifying Party
will contribute to the amount paid or payable by the Indemnified Party as a
result of such Losses (or actions or proceedings in respect thereof) in such
proportion as is appropriate to reflect the relative fault of the Indemnifying
Party on the one hand and the Indemnified Party on the other hand in connection
with statements or omissions which resulted in such Losses, as well as any other
relevant equitable considerations.  The relative fault will be determined by
reference to, among other things, whether the untrue statement of a material
fact or the omission to state a material fact relates to information supplied by
the Indemnifying Party or the Indemnified Party and the parties' relative
intent, knowledge, access to information and opportunity to correct or prevent
such untrue statement or omission.  The parties hereto agree that it would not
be just and equitable if contributions pursuant to this Section 2.6(d) were to
                                                        --------------
be determined by pro rata allocation or by any other method of allocation which
does not take account of the equitable considerations referred to in the first
sentence of this Section 2.6(d).  The amount paid by an
                 --------------

                                      -12-
<PAGE>

Indemnified Party as a result of the Losses referred to in the first sentence of
this Section 2.6(d) will be deemed to include any legal and other expenses
     --------------
reasonably incurred by such Indemnified Party in connection with investigating
or defending any Loss which is the subject of this Section 2.6(d). No
                                                   --------------
Indemnified Party guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) will be entitled to contribution from the
Indemnifying Party if the Indemnifying Party was not guilty of such fraudulent
misrepresentation.

            (e)  Indemnification Payments.  The indemnification required by this
                 ------------------------
Section 2.6 will be made by periodic payments of the amount thereof during the
-----------
course of the investigation or defense, as and when bills are received or Losses
are incurred.

     2.7    Covenants Relating to Rule 144.  As long as the Company is required
            ------------------------------
to file reports in compliance with either Section 13 or Section 15(d) of the
Exchange Act, the Company will file reports in compliance with the Exchange Act,
will comply with all rules and regulations of the Commission applicable in
connection with the use of Rule 144 and take such other actions and furnish each
Holder with such other information as such Holder may reasonably request in
order to avail itself of such rule or any other rule or regulation of the
Commission allowing such holder to sell any Registrable Securities without
registration, and will, at its expense, forthwith upon the request of any holder
of Registrable Securities, deliver to such holder a certificate, signed by the
Company's principal financial officer, stating (a) the Company's name, address
and telephone number (including area code), (b) the Company's Internal Revenue
Service identification number, (c) the Company's Commission file number, (d) the
number of shares of each class of stock outstanding as shown by the most recent
report or statement published by the Company, and (e) whether the Company has
filed the reports required to be filed under the Exchange Act for a period of at
least ninety (90) days prior to the date of such certificate and in addition has
filed the most recent annual report required to be filed thereunder.

SECTION 3.  Term.  The Company's obligations under this Agreement will terminate
            ----
as to any individual Holder at the earlier of (1) the first time at which that
Holder would be entitled, under Rule 144 under the Act, to sell all of the
Common Stock then owned by the Holder in a single three month period regardless
of the volume of trading in the Company's common stock, and (2) the third
anniversary of the date hereof.

SECTION 4.  Miscellaneous.
            -------------

     4.1    Successors And Assigns.  This Agreement will be binding upon and
            ----------------------
will inure to the benefit of the parties, and their respective successors and
assigns, including any assignee of all or part of the Registrable Securities.

     4.2    Governing Law.  This Agreement will be governed by and construed in
            -------------
accordance with the laws of the State of Delaware, without regard to its
conflict of laws principles.

     4.3    Headings.  Section headings are inserted herein for convenience only
            --------
and do not form a part of this Agreement.

                                      -13-
<PAGE>

     4.4  Entire Agreement; Amendment.  This Agreement contains the entire
          ---------------------------
agreement among the parties hereto with respect to the transactions contemplated
herein, supersedes all prior written agreements and negotiations and oral
understandings, if any, and may not be amended, supplemented or discharged
except by performance or by an instrument in writing signed by all the parties
hereto.

     4.5  Counterparts.  This Agreement may be executed in two or more
          ------------
counterparts, each of which will be deemed an original, but all of which
together will constitute one and the same instrument.

     4.6  Notices.  All notices, statements, instructions or other documents
          -------
required to be given hereunder, will be in writing and will be given personally,
by courier, by mailing the same in a sealed envelope, first-class mail, postage
prepaid and either certified or registered, return receipt requested, or by
confirmed telecopy addressed to each of the Holders at the address set forth on
the signature pages hereof and to the Company at its principal office, 623 Radar
Road, Greensboro, North Carolina  27410, Attention: President, Facsimile: (___)
___-____.  Each party hereto, by written notice given to the other parties
hereto in accordance with this Section 4.6, may change the address to which
                               -----------
notices, statements, instructions or other documents are to be sent to such
party.  All notices, statements, instructions and other documents hereunder that
are mailed will be deemed to have been given when actually received or three (3)
days after deposited in the United States mails.

     4.7  Accounting Terms.  Unless otherwise specified, all accounting terms
          ----------------
used in this Agreement will be interpreted in accordance with GAAP.

                           [Signatures on Next Page]

                                      -14-
<PAGE>

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

                                     CORPORATION:
                                     ------------

                                     AVIATION SALES COMPANY
                                     a Delaware corporation

                                     By: ___________________________________
                                        Name: ______________________________
                                        Title: _____________________________

                                     SHAREHOLDERS:
                                     -------------

                                     LJH CORPORATION,
                                     a ___________ corporation

                                     By:____________________________________
                                        Name: ______________________________
                                        Title: _____________________________

                     COUNTERPART SIGNATURE PAGES FOR EACH
                          HOLDER ARE ATTACHED HERETO

                                      -15-
<PAGE>

                         COUNTERPART SIGNATURE PAGE TO
                         REGISTRATION RIGHTS AGREEMENT

     The undersigned Holder hereby executes the Registration Rights Agreement
among Aviation Sales Company, LJH Corporation and its permitted assigns as of
the date first set forth above.

                                 By:___________________________________
                                    Name: _____________________________
                                    Title: ____________________________

                                      -16-
<PAGE>

                                   SCHEDULE 1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00032-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00032-of-00352.parquet"}]]