Document:

Exhibit 10.4

	
  Loan Number: 137504

  	
  Customer Name: UWGP, LLC

  	
  Due Date: June 1, 2011

  
	
  W.B.A. GP 451 (4/04) 11221

  	
   

  	
  Boxes not checked are
  inapplicable

  
	
  ©2004 Wisconsin Bankers Association/Distributed by
  FIPCO®

  	
   

  

 

BUSINESS NOTE

(use only for business purpose loans)

	
  United Wisconsin Grain Producers, LLC

  	
  May 25, 2006

  	
  $16,040,375.75

  
	
  (MAKER)

  	
  (DATE)

  	
   

  

 

1. Promise to Pay and Payment Schedule. The
undersigned (“Maker,” whether one or more) promises to pay to the order of
Farmers & Merchants Union Bank (“Lender”)
at 159 W. James Street, PO Box
226,  Columbus, Wisconsin,
the sum of $ 16,040,375.75, plus
interest on the unpaid principal balance, according to the following
schedule:

59 equal payment(s) consisting of principal and interest in
the amount of $190,753.59 each beginning on July 1, 2006 and continuing monthly thereafter, and one
(1) final payment consisting of the unpaid principal and all accrued interest
remaining due on June 1, 2011.

2.
Interest Calculation.  This Note bears interest on the unpaid
principal balance before maturity:

[Check (a) or (b); only one shall apply.]

(a)    x  Fixed Rate. At the annual rate of 7.400%.

(b)    q
Variable Rate. At the annual rate
(“Note Rate’) which shall equal the Index Rate (as defined below), 

q plus q
minus n/a

percentage points.
However, the Note Rate shall not exceed n/a    %
per year and shall not be less than n/a  % per year, and until the first change date
described below the Note Rate shall be n/a % per year. The Note Rate shall
be adjusted as provided below.  The Index
rate is: n/a.

The Index Rate may
or may not be the lowest rate charged by Lender.  The Note Rate shall be adjusted only on the
following dates: n/a.

An adjustment in
the Note Rate will result in an increase or decrease
in (1) o the amount of each payment of interest, (2) othe amount of the final payment, (3) o the number of scheduled periodic payments sufficient to repay this Note
in substantially equal payments, (4) o the amount of each remaining
payment of principal and interest so that those remaining payments will be
substantially equal and sufficient to repay this Note by its scheduled
maturity date, (5) o
the amount of each remaining payment of principal and interest (other than the
final payment) so that those remaining payments will be substantially equal and
sufficient to repay this Note by its scheduled maturity date based on the
original amortization schedule used by Lender, plus the final payment of
principal and interest, or (6) q  n/a.

In addition, Lender is
authorized to change the amount of periodic payments if and to the extent
necessary to pay in full all accrued interest owing on this Note. The Maker agrees to pay any resulting payments or amounts. If
the Index Rate ceases to be made available to Lender during the term of this
Note, Lender may substitute a comparable index.

Interest is computed:

(c)    x For the actual number of days principal is unpaid on the basis of T
a 360 day year (which means that the stated
interest rate will be divided by 360 days to arrive at a daily interest
rate, and the daily interest rate will be applied to the unpaid principal for
the actual number of days principal is unpaid up to 365 days in a calendar year
and 366 days in a leap year) q 365 day year.

(d)    o For the number of days
principal is unpaid on the basis of a 360 day year, counting each day as 1/30th
of a month and disregarding differences in lengths of months and years.

Unpaid principal
and interest bear interest after maturity until paid (whether by acceleration
or lapse of time) at the rate T which would otherwise be applicable under
2(b) above plus 2.000  percentage
points q of n/a % per year, computed on the same basis as the interest rate before maturity.

3. Other
Charges. If any payment (other
than the final payment) is not made on or before the  10th    day after its due date, Lender may collect a delinquency
charge of  x  5.00  % of the unpaid amount o $  n/a . 
Maker agrees to 

pay a charge of $  10.00 for
each check presented for payment under this Note which is returned unsatisfied.

4. Prepayment. Full or
partial prepayment of this Note x is permitted at any time without penaltyo  n/a.

THIS NOTE INCLUDES
ADDITIONAL PROVISIONS ON PAGE 2.

	
  

  	
  United Wisconsin Grain Producers, LLC 

  	
  (SEAL)

  
	
   

  	
  A Wisconsin Limited Liability Company

  	
   

  
	
   

  	
  (Type of Organization)

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ Barb Bontrager

  	
  (SEAL)

  
	
   

  	
  Barb Bontrager, Chief Financial Officer

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PO Box 247

  	
   

  
	
   

  	
  Friesland, WI 53935 (920)-348-5016

  	
   

  
	
   

  	
  (ADDRESS) (PHONE)

  	
   

  
				

 

	
  FOR LENDER CLERICAL USE ONLY

  	
   

  	
   

  
	
  Class: 07 Pur: 171 Phone: 920-348-5016 SS/ID No.
  39-2032455

  	
   

  	
  Rebecca J. Schulz/RJS

  
	
  Coll: Mortgage dtd 5/25/06 and GBSA dtd 5/25/06 Title:
  Refinance

  	
   

  	
  Loan Officer

  

 

ADDITIONAL
PROVISIONS

5.  Default
and  Enforcement. Upon
the occurrence of any one or more of the following events of default: (a) Maker
fails to pay any amount when due under this Note or under any other instrument
evidencing any indebtedness of Maker to Lender, (b) any representation or
warranty made under this Note or information
provided by Maker to Lender in connection with this Note is or was false or
fraudulent in any material respect, (c) a material adverse change occurs in Maker’s financial condition, (d) Maker
fails to timely observe or perform any of the covenants or duties contained in
this Note, (e) any guarantee of Maker’s
obligations under this Note is revoked or becomes unenforceable for any reason,
(f) Maker, Maker’s spouse or a surety or guarantor of this Note dies or
ceases to exist, (g) an event of default occurs under any agreement securing
this Note, or (h) Lender at any time believes in good faith that the prospect of payment or performance under this
Note, under any other instrument evidencing any indebtedness of Maker to Lender
or under any agreement securing this
Note is impaired, then the unpaid balance shall, at the option of Lender,
without notice, mature and become immediately payable. The unpaid balance shall automatically mature and become
immediately payable in the event any Maker or any surety, indorser or guarantor
for any of Maker’s obligations under
this Note becomes the subject of bankruptcy or other insolvency proceedings.
Lender’s receipt of any payment on this Note after the occurrence of an event of default shall not
constitute a waiver of the default or the Lender’s rights and remedies upon
such default. To the extent not prohibited
by law, Maker consents that venue for any legal proceeding relating to
collection of this Note shall be, at Lender’s option, the county in which Lender has its principal office in this state, the
county in which any Maker resides or the county in which this Note was executed
and Maker submits to the jurisdiction of any such court.

6.  Security. This Note is secured by all existing and future
security agreements and mortgages between Lender and Maker, between Lender and
any indorser or guarantor of this Note, and between Lender and any other
person providing collateral security for Maker’s obligations, and payment may
be accelerated according to any of them. Unless a lien would be prohibited by
law or would render a nontaxable account taxable, Maker grants to Lender a security interest and lien in any deposit account
Maker may at any time have with Lender. Lender may, at any time after an
occurrence of an event of default,
without notice or demand, set-off against any deposit balance or other money
now or hereafter owed any Maker by Lender any amount unpaid under this
Note.

7.  Rights of Lender. Without
affecting the liability of any Maker, indorser, surety, or guarantor, Lender
may, without notice, accept partial payments, release or impair any collateral
security for the payment of this Note or agree not to sue any party liable on
it. Lender may apply prepayments, if permitted, to such future installments as
it elects. Lender may without notice to Maker apply payments made by or for
Maker to any obligations of Maker to Lender. Without
affecting the liability of any indorser, surety or guarantor, Lender may from
time to time, without notice, renew or extend the time for payment.

8.  Obligations
and Agreements of  Maker. The
obligations under this Note of all Makers are joint and several. All Makers,
indorsers, sureties, and guarantors agree to
pay all costs of collection before and after 

judgment, including reasonable
attorneys’ fees (including those incurred in successful defense or settlement of any counterclaim brought
by Maker or incident to any action or proceeding involving Maker brought
pursuant to the United States Bankruptcy Code) and waive presentment, protest,
demand and notice of dishonor. Maker agrees to indemnify and hold harmless
Lender, its directors, officers,
employees and agents, for, from and against any and all claims, damages,
judgments, penalties, and expenses, including reasonable attorneys’ fees, arising directly or indirectly
from credit extended under this Note or the activities of Maker. This indemnity
shall survive payment of this Note. Each Maker acknowledges that Lender
has not made any representations or warranties with respect to, and that Lender
does not assume any responsibility to Maker
for, the collectability or enforceability of this Note or the financial
condition of any Maker. Each Maker has independently determined the
collectability and enforceability of this Note. Maker represents that the legal
name of Maker and the address of Maker’s principal residence are as set forth on page 1. Maker shall not
change its legal name or address without providing at least 30 days prior
written notice of the change to Lender.

9. Interpretation. This Note is intended by Maker and Lender as a
final expression of this Note and as a complete and exclusive statement of its
terms, there being no conditions to
the enforceability of this Note. This Note may not be supplemented or modified
except in writing. This Note benefits Lender, its successors and assigns, and binds Maker and Maker’s
heirs, personal representatives, successors and assigns. The validity,
construction and enforcement of this
Note are governed by the internal laws of Wisconsin except to the extent such
laws are preeempted by federal law. Invalidity or unenforceability of
any provision of this Note shall not affect the validity or enforceability of
any other provisions of this Note.

	
  INTEREST

  	
   

  
	
  PAID TO

  	
  $

  

 

	
  MO.

  	
   

  	
  DAY

  	
   

  	
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  DATES PAID

  	
   

  	
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  PRINCIPAL

  	
   

  	
  BALANCE DUE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

ADDENDUM TO
BUSINESS NOTE #137504

This Addendum is a part of the
Business Note between United Wisconsin Grain Producers, LLC (“Maker”)
and Farmers & Merchants Union Bank, Columbus, Wisconsin (“Lender”) dated
May 25, 2006.

In addition to all the terms and
agreements contained in the Business Note and Term Credit Agreement the Maker also agrees to pay Lender a $20,000.00
annual facility fee due each year on the anniversary date of the note.

	
  United Wisconsin Grain Producers, LLC

  
	
   

  	
   

  	
   

  
	
  By:

  	
   /s/ Barb
  Bontrager

  	
   

  
	
  Barb Bontrager, Chief Financial OfficerExhibit
10.56

STOCK
PURCHASE AGREEMENT

dated as of

December 8, 2006

between

FLIGHTTECHNICS LLC

as the Seller

and

WILLIS LEASE FINANCE
CORPORATION

as the Buyer

STOCK PURCHASE AGREEMENT

STOCK PURCHASE AGREEMENT (“Agreement”),
dated as of December 8, 2006 between Willis Lease Finance Corporation, a
Delaware corporation (“Buyer”),
and FlightTechnics LLC, a Delaware limited liability company (“Seller”).

RECITALS

A.            Seller owns and
desires to sell 1,300,000 shares (“Shares”)
of Common Stock.

B.            Seller has previously
delivered a completed W-9 to Buyer.

C.            Buyer desires to
purchase the Shares from Seller subject to the terms and conditions hereinafter
set forth.

AGREEMENT

In consideration of the foregoing and the mutual covenants and
agreements herein contained, and intending to be legally bound hereby, the
parties agree as follows:

ARTICLE 1: DEFINITIONS

SECTION 1.01. Definitions. 
The following terms, as used herein, have the following meanings:

(a)           “Business Day” means
any day that is not a Saturday, a Sunday or other day on which banks are
required or authorized by Law to be closed in the city of San Francisco.

(b)           “Closing Date” means
the date of the Closing.

(c)           “Common Stock” means
the common stock, par value $0.01 per share, of Buyer.

(d)                                 “Lien”
means, with respect to any property or asset, any mortgage, lien, pledge,
charge, security interest or encumbrance in respect of such property or asset.

(e)                                  “Person”
means an individual, corporation, partnership, limited liability company,
association, trust or other entity or organization, including a government or
political subdivision or an agency or instrumentality thereof.

ARTICLE
2: PURCHASE AND SALE

SECTION 2.01. Purchase and Sale. 
Subject to the terms and conditions of this Agreement, Seller agrees to
sell to Buyer, and Buyer agrees to purchase from Seller, all of the Shares at
the Closing (as defined in Section 2.02 below). 
The purchase price for the Shares (the “Purchase Price”) is $9.00 per share, for a total of $11,700,000
(the “Aggregate Purchase Price”).

 2
 

SECTION 2.02. Closing. 
The closing (the “Closing”)
of the purchase and sale of the Shares hereunder shall take place within 3
Business Days after the date hereof at the offices of Gibson, Dunn &
Crutcher LLP, located at One Montgomery Street, San Francisco, California.  On the date hereof, Seller shall deliver to
Gibson, Dunn & Crutcher LLP a certificate or certificates representing the
Shares (the “Certificates”) accompanied by
stock powers duly endorsed in blank, with any required transfer stamps affixed
thereto to be held in escrow until the Closing. 
Buyer acknowledges that at any time prior to closing, Seller may
instruct Gibson, Dunn & Crutcher LLP to return the Certificates and any
accompanying stock powers to Seller.  At
the Closing:

(a)                                  Seller
shall direct Gibson, Dunn & Crutcher LLP to release and deliver the
Certificates and any accompanying stock powers to Buyer.

(b)                                 Buyer
shall make payment of the Aggregate Purchase Price for the Shares in U.S.
dollars by wire transfer payable to Thelen Reid & Priest LLP’s client trust
account in an amount equal to the Aggregate Purchase Price, pursuant to the
wire instructions set forth on Exhibit A.

(c)                                  Upon
release and delivery of the Certificates and accompanying stock powers to
Buyer, Gibson, Dunn & Crutcher LLP shall inform Thelen Reid & Priest
LLP of the release and Thelen Reid & Priest LLP will thereupon release the
Aggregate Purchase Price to Seller.

SECTION 2.03. Failure to Close. 
If the parties shall fail to close the transaction and consummate the purchase
and sale of the Shares on or before the third Business Day after each party has
executed this Agreement, this Agreement shall be void ab initio
and be of no force and effect.

ARTICLE
3: REPRESENTATIONS AND WARRANTIES OF SELLER

Seller represents and warrants to Buyer as of the date hereof and as of
the Closing Date that:

SECTION 3.01. Existence and Power.  Seller is a limited liability company duly
organized, validly existing and in good standing under the laws of the State of
Delaware.

SECTION 3.02. Authorization. 
The execution, delivery and performance by Seller of this Agreement and
the consummation of the transactions contemplated hereby are within the powers
of Seller and have been duly authorized by all necessary actions on the part of
Seller, including any approvals required by its members.  This Agreement constitutes a legal, valid and
binding agreement of Seller, enforceable in accordance with its terms, subject
to applicable bankruptcy, insolvency and similar laws affecting creditors’
rights and remedies generally.

SECTION 3.03. Ownership of Shares.  Seller is the record and beneficial owner of
the Shares, free and clear of any Lien, and will transfer and deliver to Buyer
at the Closing valid title to the Shares free and clear of any Lien. Seller has
not granted any option or other right to acquire the Shares to any Person.

 3
 

SECTION 3.04. Non-Contravention. 
The execution and delivery by Seller of this Agreement and the
consummation of the transactions contemplated hereby will not conflict with,
constitute a default under or violate: (a) any of the terms, conditions or
provisions of its articles of formation or LLC operating agreement; (b) any of
the terms, conditions or provisions of any document, agreement or other
instrument to which Seller is a party or by which Seller’s property is bound;
or (c) any judgment, writ, injunction, decree, order or ruling of any court or
governmental authority binding on Seller or Seller’s property.

SECTION 3.05. Certain Acknowledgements.  In connection with the purchase and sale
contemplated by this Agreement, Seller hereby acknowledges that (a) Seller has
the capacity to protect its own interests based upon its own financial
expertise; and (b) Seller has been given the opportunity to review such
documents and information (including Buyer’s financial statements), and ask such
questions of management as Seller has deemed necessary or appropriate.  Seller has done its own due diligence and
research regarding the valuation of Buyer, has made its own independent determination
that the Purchase Price is fair, adequate and in Seller’s best interests, and
Seller has not relied upon any statement, representation or warranty of Buyer
or any of its employees or agents in determining to sell the Shares for the
Purchase Price.

SECTION 3.06. No Further Representations and Warranties.
Other than the Representations and Warranties set forth in Sections 3.01 to
3.05 above, no additional representations and warranties are given or made by
Seller.

ARTICLE
4: REPRESENTATIONS AND WARRANTIES OF BUYER

Buyer represents and warrants to Seller as of the date hereof and as of
the Closing Date that:

SECTION 4.01. Corporate Existence and Power.  Buyer is a corporation duly incorporated,
validly existing and in good standing under the laws of the State of Delaware.

SECTION 4.02. Corporate Authorization.  The execution, delivery and performance by
Buyer of this Agreement and the consummation of the transactions contemplated
hereby are within the corporate powers of Buyer and have been duly authorized
by all necessary corporate actions on the part of Buyer.  This Agreement constitutes a legal, valid and
binding agreement of Buyer, enforceable in accordance with its terms, subject
to applicable bankruptcy, insolvency and similar laws affecting creditors’
rights and remedies generally.

SECTION 4.03. Non-Contravention. 
The execution and delivery by Buyer of this Agreement and the
consummation of the transactions contemplated hereby, and compliance by Buyer
with any of the provisions hereof, will not conflict with, constitute a default
under or violate (a) any of the terms, conditions or provisions of its
certificate of incorporation or by-laws; (b) any of the terms, conditions or
provisions of any document, agreement or other instrument to which Buyer is a
party or by which its property is bound; or (c) any judgment, writ, injunction,
decree, order or ruling of any court or governmental authority binding on it or
its property.

SECTION 4.04. No Further Representations and Warranties.
Other than the Representations and Warranties set forth in Sections 4.01 to
4.03 above, no additional representations and warranties are given or made by
Buyer.

 4
 

ARTICLE
5: FURTHER ASSURANCES

SECTION 5.01. Further Assurances.  Subject to the terms and conditions of this
Agreement, Buyer and Seller will from time to time, after the Closing, take, or
cause to be taken, such other actions and execute and deliver to any other
party to this Agreement such further documents as may be reasonably requested
by any other party to the Agreement in order to assure and confirm to such
party

(a)                                the
rights created hereby or intended now or hereafter so to be created by this
Agreement; or

(b)                               the
validity of any assignment documents or other documents of conveyance to be
delivered at the Closing.

ARTICLE
6: MISCELLANEOUS

SECTION 6.01. Notices.  All
notices and other communications hereunder shall be in writing and shall be
deemed duly given (a) on the date of delivery if delivered personally, or if by
facsimile, upon written confirmation of receipt by facsimile, e-mail or
otherwise, or (b) on the first Business Day following the date of dispatch if
delivered utilizing a next-day service by a recognized next-day courier.  All notices hereunder shall be delivered to
the addresses set forth below, or pursuant to such other instructions as may be
designated in writing by the party to receive such notice:

	
  If to Buyer, at:

  	
  2320 Marinship Way, Suite 300

  
	
   

  	
  Sausalito,
  California 94965

  
	
   

  	
  Attention:
  Thomas C. Nord, Esq.

  
	
   

  	
  Facsimile: (415)
  331-5167

  
	
   

  	
   

  
	
  with a copy (which shall not constitute notice) to:

  
	
   

  	
   

  
	
   

  	
  Gibson, Dunn
  & Crutcher LLP

  
	
   

  	
  One Montgomery
  Street

  
	
   

  	
  31st Floor

  
	
   

  	
  San Francisco,
  California 94104

  
	
   

  	
  Attention: Peter
  T. Heilmann, Esq.

  
	
   

  	
  Facsimile: (415)
  374-8450

  
	
   

  	
   

  
	
   

  	
   

  
	
  If to Seller,
  at:

  	
  FlightTechnics LLC

  
	
   

  	
  c/o Wenger
  Plattner

  
	
   

  	
  Seestrasse 39

  
	
   

  	
  Goldbach Center

  
	
   

  	
  CH-8700
  Kuesnacht

  
	
   

  	
  Switzerland

  
	
   

  	
  Attention: Rolf
  Winiger

  
	
   

  	
  Facsimile: +41
  43 222 39 24

  

 

 5
 

 

	
  with a copy (which shall not constitute notice) to:

  
	
   

  	
   

  
	
   

  	
  Thelen Reid and
  Priest

  875 Third Avenue

  New York, NY-10022

  Attention: Gregory Katz, Esq.

  Facsimile: (212) 829-2033

  

 

SECTION 6.02. Amendments and Waivers.  (a) Any provision of this Agreement may be
amended or waived if, but only if, such amendment or waiver is in writing and
is signed, in the case of an amendment, by each party to this Agreement, or in
the case of a waiver, by the party against whom the waiver is to be effective.

(b)           No failure or delay
by any party in exercising any right, power or privilege hereunder shall
operate as a waiver thereof nor shall any single or partial exercise thereof
preclude any other or further exercise thereof or the exercise of any other
right, power or privilege. The rights and remedies herein provided shall be cumulative
and not exclusive of any rights or remedies provided by law.

SECTION 6.03. Expenses. 
All costs and expenses incurred in connection with this Agreement shall
be paid by the party incurring such cost or expense.

SECTION 6.04. Successors and Assigns.  The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns; provided
that no party may assign, delegate or otherwise transfer any of its rights or
obligations under this Agreement without the consent of each other party
hereto.

SECTION 6.05. Governing Law. 
This Agreement and all disputes or controversies arising out of or
relating to this Agreement or the transactions contemplated hereby shall be
governed by, and construed in accordance with, the internal laws of the State
of New York, without regard to the laws of any other jurisdiction that might be
applied because of the conflicts of laws principles of the State of New York
(other than Section 5-1401 of the New York General Obligations Law).

SECTION 6.06. Jurisdiction. 
Each of the parties irrevocably agrees that any legal action or
proceeding arising out of or relating to this Agreement brought by the other
party or its successors or assigns shall be brought and determined in any New
York State or federal court sitting in the Borough of Manhattan in The City of
New York (or, if such court lacks subject matter jurisdiction, in any
appropriate New York State or federal court), and each of the parties hereby
irrevocably submits to the exclusive jurisdiction of the aforesaid courts for
itself and with respect to its property, generally and unconditionally, with
regard to any such action or proceeding arising out of or relating to this
Agreement and the transactions contemplated hereby.  Each of the parties agrees not to commence
any action, suit or proceeding relating thereto except in the courts described
above in New York, other than actions in any court of competent jurisdiction to
enforce any judgment, decree or award rendered by any such court in New York as
described herein.  Each of the parties
further agrees that notice as provided herein shall constitute sufficient
service of process and the parties further waive any argument that such 

 6
 

service is insufficient.  Each of the parties hereby irrevocably and
unconditionally waives, and agrees not to assert, by way of motion or as a
defense, counterclaim or otherwise, in any action or proceeding arising out of
or relating to this Agreement or the transactions contemplated hereby, (a) any
claim that it is not personally subject to the jurisdiction of the courts in
New York as described herein for any reason, (b) that it or its property is
exempt or immune from jurisdiction of any such court or from any legal process
commenced in such courts (whether through service of notice, attachment prior
to judgment, attachment in aid of execution of judgment, execution of judgment
or otherwise) and (c) that (i) the suit, action or proceeding in any such court
is brought in an inconvenient forum, (ii) the venue of such suit, action
or proceeding is improper or (iii) this Agreement, or the subject matter
hereof, may not be enforced in or by such courts.

SECTION 6.07. WAIVER OF JURY TRIAL.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT
OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

SECTION 6.08. Counterparts; Third Party Beneficiaries.  This Agreement may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if
the signatures thereto and hereto were upon the same instrument. This Agreement
shall become effective when each party hereto shall have received a counterpart
hereof signed by the other party hereto. 
No provision of this Agreement is intended to confer upon any Person
other than the parties hereto any rights or remedies hereunder.

SECTION 6.09. Entire Agreement. 
This Agreement constitutes the entire agreement between the parties with
respect to the subject matter of this Agreement and supersedes all prior
agreements and understandings, both oral and written, between the parties with
respect to the subject matter of this Agreement.

 7
 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed by their respective authorized officers as of the day and year
first above written.

	
  

  	
  WILLIS LEASE FINANCE CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas C.
  Nord

  	
   

  
	
   

  	
  Name: Thomas C. Nord

  
	
   

  	
  Title:   Senior Vice President

  
	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  FLIGHTTECHNICS LLC

  	 

	
   

  	
   

  	 

	
   

  	
  By:

  	
  /s/ W. William
  Coon, Jr.

  	
   

  	 

	
   

  	
  Name: W. William Coon,
  Jr.

  	 

	
   

  	
  Title:    Chairman & President

  	 

						

 

Signature
page to Stock Purchase Agreement

 8
 

Exhibit A

Thelen Reid & Priest, LLP - Attorney Special Account (Non-Interest
Bearing)

Account # 53505184

ABA # 021-000-089 (Sometimes known as routing number)

SWIFT CODE: Citi US33

Citibank, N.A.

Citicorp Center

153 East 53rd Street

New York, New York 10043

 9

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