Document:

ASSIGNMENT

         This ASSIGNMENT (the "Assignment") is made effective this 30th day of
June, 2004, by and between BonusAmerica Worldwide Corp., a Nevada corporation
(the "Assignor") and Fred Tse, an individual ("Assignee").

         WHEREAS, Assignor owes Assignee a total of Nineteen Thousand Five
Hundred Six Dollars and Sixteen Cents (US$19,506.16) pursuant to a Demand
Promissory Note dated March 8th, 2002, of which a copy is attached hereto as
Exhibit "A" (the "Demand Note"); and

         WHEREAS, Assignor or has the right to an Invoice in the amount of
Twenty Five Thousand Dollars (US$25,000), from Tianjin Fengyu Co., Ltd., dated
March 29, 2004 a copy of which is attached hereto as Exhibit "B" (the
"Invoice"); and

         WHEREAS, Assignor desires to transfer all right, title and interest to
the Invoice to Assignee and Assignee hereby desires the assignment herein as
full and final payment in accord and satisfaction of the Demand Note.

         NOW, THEREFORE, in consideration for Ten Dollars ($10) and other good
and valuable consideration, when executed by an authorized officer of Assignee
and Assignor, this Assignment will set out the understanding and agreement
regarding the assignment of the Invoice to Assignee for full and final payment
in accord and satisfaction of the Demand Note as follows:

1.       ACCEPTANCE OF ASSIGNMENT

         In exchange for the full and final payment in accord and satisfaction
         of the Demand Note by Assignee to Assignor of Nineteen Thousand Five
         Hundred Six Dollars and Sixteen Cents (USD $19,506.16), Assignor hereby
         assigns all of its right, title, and interest in the Invoice, and
         Assignee hereby accepts such assignment of the Invoice in accord and
         satisfaction of payment of the Demand Note, effective the date hereof.

2.       ASSUMPTION OF DUTIES AND OBLIGATIONS

          Assignee hereby assumes the performance of all duties and obligations,
          if any, required of Assignor under the Invoice.

3.       HOLD ASSIGNOR HARMLESS

         Assignee will hold Assignor harmless from any liability or loss
         resulting from nonpayment and or nonperformance of the Invoice in
         accordance with its respective terms, without adverse impact to
         Assignor, its credit report, or reputation among the financial
         community and its various business segments.

<PAGE>

4.       MISCELLANEOUS

        A.        Authority. The officers of the Assignee and Assignor executing
                  this Assignment are duly authorized to do so and each party
                  has taken all action required by law or otherwise to properly
                  and legally execute this Agreement

         B.       Notices. Any notice under this Assignment shall be deemed to
                  have been sufficiently given if sent by registered or
                  certified mail, postage prepaid, addressed as follows:

                  To Assignor:              BonusAmerica WorldWide Corp.
                                            834 S. Broadway, Fifth Floor
                                            Los Angeles, California 90014
                                            Telephone: (213) 243-1505
                                            Facsimile: (213) 243-1509

                  To Assignee:              Fred Tse
                                            186 Stevens Drive
                                            West Vancouver, British Columbia
                                            Canada V7S 1C4
                                            Telephone: (604) 926-2883
                                            Facsimile: (604) 731-2888

or to any other address which may hereafter be designated by either party by
notice given in such manner. All notices shall be deemed to have been given as
of the date of receipt.

         C.       Entire Agreement. This Assignment sets forth the entire
                  understanding between the parties hereto and no other prior
                  written or oral statement or agreement shall be recognized or
                  enforced.

         D.       Severability. If a court of competent jurisdiction determines
                  that any clause or provision of this Assignment is invalid,
                  illegal or unenforceable, the other clauses and provisions of
                  the Assignment shall remain in full force and effect and the
                  clauses and provision which are determined to be void, illegal
                  or unenforceable shall be limited so that they shall remain in
                  effect to the extent permissible by law.

         E.       Assignment. None of the parties hereto may assign this
                  Assignment or otherwise assign, delegate or transfer the
                  rights and obligations of Assignor under the Agreement without
                  the express written consent of the other parties and any
                  approved assignment shall be binding on and inure to the
                  benefit of such successor or, in the event of death or
                  incapacity, on Assignee's heirs, executors, administrators and
                  successors.

                                       2
<PAGE>

         F.       Applicable Law. This Assignment has been negotiated and is
                  being contracted for in Nevada, and it shall be governed by
                  the laws of Nevada, Clark County, notwithstanding any
                  conflict-of-law provision to the contrary.

         G.       Attorney's Fees. If any legal action or other preceding
                  (non-exclusively including arbitration) is brought for the
                  enforcement of or to declare any right or obligation under
                  this Assignment or as a result of a breach, default or
                  misrepresentation in connection with any of the provisions of
                  this Assignment, or otherwise because of a dispute among the
                  parties hereto, the prevailing party will be entitled to
                  recover actual attorney's fees (including for appeals and
                  collection) and other expenses incurred in such action or
                  proceeding, in addition to any other relief to which such
                  party may be entitled.

         H.       No Third Party Beneficiary. Nothing in this Assignment,
                  expressed or implied, is intended to confer upon any person,
                  other than the parties hereto and their successors, any rights
                  or remedies under or by reason of this Assignment, unless this
                  Agreement specifically states such intent.

         I.       Further Assurances. At any time, and from time to time after
                  the effective date of this Assignment, each party hereto will
                  execute such additional instruments and take such action as
                  may be reasonably requested by the other party to confirm or
                  perfect title to the securities and other assets to be
                  acquired by Assignee under the Agreement or otherwise to be
                  transferred pursuant to the Agreement or this Assignment; or
                  otherwise to carry out the intent and the purpose of this
                  Assignment.

         J.       Amendment or Waiver. Every right and remedy provided herein
                  shall be cumulative with every other right and remedy, whether
                  conferred herein, at law, or in equity, and may be enforced
                  concurrently herewith, and no waiver by any party of the
                  performance of any obligatiou by the other shall be construed
                  as a waiver of the same or any other default then,
                  theretofore, or thereafter occurring or existing. At any time
                  prior to the effective date of this Assignment, this
                  Assignment shall be amended by a writing signed by all parties
                  hereto.

         K.       Headings. The section and subsection headings in this
                  Assignment are inserted for convenience only end shall not
                  affect in any way the meaning or interpretative of this
                  Assignment.

         L.       Counterparts; Facsimile. It is understood and agreed that this
                  Assignment may be executed in any number of identical
                  counterparts, each of which may be deemed an original for all
                  purposes. Further, any such executed original or counterpart
                  may be delivered by facsimile or similar instantaneous
                  electronic transmission device pursuant to which the signature
                  of or on behalf of such party can be seen, and such execution
                  and delivery shall be considered valid binding and effective
                  for all purposes. At the request of any party hereto, all
                  parties agree to execute an original of this instrument as
                  well as any facsimile, telecopy or other reproduction hereof.

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<PAGE>

         M.       Limitation of Liability.

         N.       Time is of the Essence.

         O.       No Right of Offset.

         IN WITNESS WHEREOF, the parties hereto have caused this Assignment to
be executed the day and year first above written.

                                          Assignor"
                                          BonusAmerica Worldwide Corp.

                                          By:
                                          Name:
                                          Title:

                                          "Assignee"
                                          Fred Tso

                                       4EXHIBIT 10.7

EMPLOYMENT AGREEMENT

      AGREEMENT  dated October 15, 2004,  between FBO Air, Inc., its affiliates,
subsidiaries,  joint  venture  partners,  successors  and  assigns,  hereinafter
referred to as "Company" and W. R. "Robert" Cumming,  hereinafter referred to as
"Executive".

Company is engaged in acquiring and operating  fixed base operations and related
aviation  companies  and  operations  within  the  United  States  and  possibly
internationally.  Company  currently  maintains its place of business at 9087 E.
Charter Oak, Scottsdale, AZ 85260

The Company wishes to employ the Executive,  and the Executive  wishes to accept
employment  with the  Company,  on the terms and subject to the  conditions  set
forth in this Agreement. It is therefore agreed as follows:

      1.    EMPLOYMENT.   The  Company  shall  employ  the  Executive,  and  the
Executive shall serve the Company, as Chief Financial Officer and Executive Vice
President  of the  Company,  with such  duties  and  responsibilities  as may be
assigned to the Executive by the Chairman and/or the Chief Executive  Officer of
the Company and as are normally  associated with a position of that nature.  The
Executive shall devote his best efforts and his business time to the performance
of his duties under this Agreement and shall perform them faithfully, diligently
and competently  and in a manner  consistent with the policies of the Company as
determined from time to time by the Chairman and/or Chief Executive Officer. The
Executive  shall  report to the Chief  Executive  Officer  of the  Company.  The
Executive shall not engage in other business activities outside the scope of his
employment if such activities would detract or interfere with the fulfillment of
his responsibilities or duties under this Agreement.

      2.    TERM. The Executive's employment by the Company under this Agreement
shall commence in two weeks from the date of the initial fixed base  acquisition
and the firm  commitment  and written  agreement  by the Board of  Directors  in
securing no less than $20 million in debt and equity  financing  by the Company.
The Company will provide  Executive two weeks notice from that date,  which will
be the "Effective Date". The term is for a continuous thirty-six month period of
time.  This  Agreement  will renew itself in its entirety  automatically  unless
either party provides notice to the other party no less than 180 days before the
expiration date of the Agreement.

      3.    COMPENSATION.

            a.    Base Salary.  As compensation  for the services to be rendered
                  by Executive  during the period of his  employment  hereunder,
                  Company shall pay Executive a salary of $125,000 per annum for
                  the  first  twelve  (12)  months;  $150,000  per annum for the
                  second  twelve (12)  months;  and  $200,000  per annum for the
                  third  twelve  (12)  months and  successive  twelve (12) month
                  periods   thereafter;   salary   shall  be  less   income  tax
                  withholdings and other normal employee deductions and shall be
                  payable in equal monthly installments.  The Board of Directors
                  of the Company may  increase  such salary at any time and from
                  time to time.

            b.    Incentive Bonus. In addition to the Base Salary, the Executive
                  shall  be  eligible  for an  incentive  bonus  equal  to three
                  percent  (3%)  of  the  earnings   before   interest,   taxes,
                  depreciation,  and amortization ("EBITDA") of the Company. The
                  incentive  shall be earned by meeting or exceeding  the annual
                  Plan for EBITDA,  which Plan shall be developed by  management
                  and  approved by the Board of  Directors.  When  earned,  such
                  incentive bonus shall be paid within four (4) weeks of the end
                  of the applicable  fiscal year of the Company.  Executive,  at
                  his option, may receive incentive bonus in cash or in the form
                  of Company stock at a rate equal to 80% of the listed price on
                  the last business day of each calendar year.

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<PAGE>

            c.    B. Stock  Option.  Executive  shall be  entitled to receive an
                  Option to purchase shares of the Company's stock as follows:

                     250,000 shares March 1, 2005
                     250,000 shares March 1, 2006
                     250,000 shares March 1, 2007

                  The per  share  price  will  be the  listed  price  as of each
                  respective date and will vest at the time of the issuance. The
                  executive  will have five years to acquire  the stock from the
                  date of  issuance.  So long  as it may be done  lawfully,  the
                  manner  of  acquisition  of stock  shall be  structured  as to
                  minimize adverse tax consequences to the Executive.

                  Additional options may be granted by the Board of Directors at
                  their discretion.

      This Agreement shall not be deemed abrogated or terminated if the Board of
Directors of Company shall  determine to increase the  compensation of Executive
or pay bonuses for any period of time.

      4.    CONFLICTING ACTIVITIES. Executive shall not, during the term of this
Agreement, be engaged in any business activity that is directly or indirectly in
competition with the primary business  activity of the Company without the prior
written consent of the Board of Directors of the Company.

      Executive hereby agrees to promote and develop all business  opportunities
that  come to his  attention  relating  to the  current  or  anticipated  future
business of the Company,  in a manner  consistent  with the best interest of the
Company  and with his duties  under this  Agreement.  As used  herein,  the term
"business  opportunity"  shall  not  include  business  opportunities  involving
investment  in  publicly  traded  stocks,  bonds or other  securities,  or other
investment of a personal nature.

      5.    INSURANCE  AND  INDEMNIFICATION.  The  Company  will hold  executive
harmless and provide the Executive with complete indemnification against any and
all claims and/or lawsuits born directly or indirectly from the execution of the
Executive's  duties in the  performance  of his  position,  and/or  directly  or
indirectly as the result of any other employees,  officers,  directors,  agents,
stockholders  and in furtherance  thereof,  the Company will provide and pay for
director and officer liability insurance.

      6.    ADDITIONAL BENEFITS.

            6.1   Health,  and Welfare  Coverage:  Company agrees to pay premium
                  expenses  in full on behalf of  Executive  and his  family for
                  medical,   dental  and  vision  insurance  coverage  upon  the
                  Effective  Date  of  this  Agreement  through  Blue  Cross  of
                  California  and either its PPO Share 500 or HMO Health  plans;
                  and Dental PPO plans and related vision plans.

            6.2   Executive Life Insurance: The Company will provide and pay for
                  term life insurance  insuring the life of Executive during the
                  term of this  Agreement  in the amount of one million  dollars
                  ($500,000.00),  with  one-half  (1/2) of the proceeds  thereof
                  directed to such beneficiary or beneficiaries as Executive may
                  from time to time  appoint  and  one-half  (1/2) the  proceeds
                  thereof directed to the Company.

                                                                             E-3
<PAGE>

            6.3   Vacation:  The  Executive  shall be  entitled  each  year to a
                  vacation   of  three  (3)   weeks,   during   which  time  his
                  compensation  shall be paid in full.  Each  vacation  shall be
                  taken at such time as to minimize its affect on the operations
                  of the Company.

            6.4   Holidays  and  Sick  Leave.  Executive  shall be  entitled  to
                  thirteen paid holidays per year.  Sick leave will be five days
                  per year and  accumulate up to twenty days if unused from year
                  to year.

            6.5   Executive  Physical:  Company  will  arrange  and  pay  for  a
                  complete  executive  physical  examination  every  two  years,
                  provided,   however,   that  the   results  of  the   physical
                  examination  shall  be made  known  to  Company  as well as to
                  Executive.

            6.6   Working  Facilities and Equipment:  The Executive shall have a
                  private office, administrative support, and Company shall make
                  available such equipment,  computers, furniture and such other
                  facilities  and  services as are  suitable to his position and
                  appropriate for the performance of his duties.

            6.7   Reimbursement of Expenses:  The Executive may incur reasonable
                  expenses  for  promoting  the  Company's  business,  including
                  expenses  for   entertainment,   travel,   mobile   telephone,
                  home-based  phone and fax lines,  home-based  Internet access,
                  use of personal digital assistant and similar items.

            6.8   Relocation   Allowance:   Executive  will  be  entitled  to  a
                  relocation  allowance  in order  to move  from  California  to
                  Arizona.  This will  amount to $5,000  per month for the first
                  three months after the Effective Date of this Agreement.

            6.9   Automobile Allowance: Monthly $750.

            6.10  Continuous Education and Training: Consistent with the Federal
                  Aviation Administration and Current Insurance Requirements for
                  Aircraft  and  Fixed  Base  Operators  and  their  operations,
                  continuous education is required. Company recognizes Executive
                  has been involved directly and indirectly in flight operations
                  for a number of decades.  Executive  has an Airline  Transport
                  Pilot  Rating  and is a FAA flight  instructor  for single and
                  multi-engine  aircraft  and has acted as Chief  Check Pilot in
                  flight  operations.  Company  agrees to accrue  five hours per
                  month of flight time in Company  owned and or leased  aircraft
                  of Executive's choosing for Executive to maintain currency and
                  proficiency  and  comply  with  the  various   government  and
                  insurance  requirements.  This may  include  type  ratings and
                  training in  simulators  in addition to the actual flight time
                  in aircraft.

            6.11  Pension,  401K Plans, ESOP Plans:  Executive shall be entitled
                  to  participate  immediately  in any pension or profit sharing
                  plan or other type of plan  adopted by Company for the benefit
                  of its key executives and/or regular employees.

      7.    DISCLOSURE OF INFORMATION. The Executive acknowledges that he may be
exposed to  confidential  information  and that this  information is a valuable,
special,  and unique asset of the Company's  business.  The Executive  will not,
during  or  after  the  term  of  his  employment,  disclose  such  confidential
information  to any person,  firm,  corporation,  association,  or other  entity
except  for  the  specific  purpose  of  accomplishing  the  Company's  business
objectives.  In the event of a breach or  threatened  breach by the Executive of
the provisions of this paragraph, the Company shall be entitled to an injunction
restraining  the  Executive  from   disclosing,   in  whole  or  in  part,  such
confidential  information,  or from rendering any services to any person,  firm,
corporation,  association, or other entity to whom such information, in whole or
in part,  has been  disclosed or is threatened to be disclosed.  Nothing  herein
shall be construed as  prohibiting  the Company from pursuing any other remedies
available to the Company for such breach or  threatened  breach,  including  the
recovery of damages from the Executive.

                                                                             E-4
<PAGE>

      8.    FORCE  MAJEURE AND  DISABILITY.  If Company is unable to conduct its
business, or a substantial portion thereof, by virtue of governmental regulation
or order, or by strike,  war, fire,  earthquake,  hurricane,  or similar acts of
god, or other calamity (declared or undeclared),  or because of other similar or
dissimilar  cause beyond control of Company (all of which events are hereinafter
sometimes  referred to as "Force Majeure"),  or in the event Executive suffers a
disability  which prevents him from  performing his services  hereunder  (herein
called a  "Disability"),  Company  shall,  in the event the Force Majeure and/or
Disability  continue for at least eight  aggregate  weeks during any  four-month
period,  have the right to  suspend  the  operation  of this  Agreement  for the
duration  of said Force  Majeure  and/or  Disability  (except  for any  benefits
payable to  Executive  under  such  benefit  plans  generally  available  to all
executive employees),  and Company shall, at its option, have the right to add a
period equal to such suspension to the Term hereof.

      9.    TERMINATION WITHOUT CAUSE.  Without cause, the Company may terminate
this  Agreement at any time upon ten (10) days written  notice to the Executive.
In such  event,  the  Executive  shall be paid his Base Salary up to the date of
termination,  and in addition,  there shall be paid to the Executive on the date
of termination a severance  allowance equal to one times then applicable  Annual
Base Salary (less only those amounts required by law to be withheld and deducted
such as income taxes).  Further,  Company  acknowledges that any Incentive Bonus
due Executive shall be paid on a pro-rated basis; that any issued but non-vested
Options shall be  terminated;  and that Benefits  shall continue for a period of
six (6) months  from the end of the month of  termination.  Without  cause,  the
Executive may terminate  this  Agreement upon sixty (60) days' written notice to
the Company.  In such event, the Executive shall continue to render his services
and shall be paid his regular compensation up to the date of termination, but no
severance allowance shall be owed. Also, should Executive  terminate,  Executive
acknowledges that any Incentive Bonus due Executive shall be forfeited; that any
issued but  non-vested  Options shall be  terminated;  and that  Benefits  shall
continue  up to  the  end  of the  month  of  termination.  Cobra  benefits,  in
accordance with the various federal and state regulations,  will continue at the
option of Executive.

      10.   TERMINATION WITH CAUSE. For "cause," as defined below,  either party
may, at its election, terminate this Agreement immediately. In the event Company
terminates  "for  cause,"  Company  shall pay  Executive  the  compensation  and
benefits  which would  otherwise  be payable to  Executive  up to the end of the
month in which the termination or disciplinary action occurs. Further, Executive
acknowledges that any Bonus due at time of termination  shall be forfeited;  all
non-vested  Options shall be forfeited;  and that Benefits  shall be canceled at
the end of the month of  termination.  Cobra  benefits,  in accordance  with the
various federal and state regulations, will continue at the option of Executive.

      As used in this Section,  termination  "for cause" shall be deemed to have
occurred if either party has breached this Agreement and the non-breaching party
gives notice in writing,  delivered to the breaching  party and providing  sixty
(60)) calendar days,  from the date of delivery of the notice,  within which the
breaching party has the opportunity to cure, if possible, the breach.

      In addition, cause for termination shall exist if Executive engages in any
of the following  conduct while an employee of the Company:  (1) conviction of a
felony  offense,  whether or not such offense was committed in  connection  with
Company's  business;  (2)  theft,   embezzlement,   false  entries  on  records,
misapplication  of funds or  property,  misappropriation  of any  asset,  or any
actual  or  constructive  fraud;  (3) gross  neglect  of duty  and/or  willfully
engaging in gross misconduct  materially and demonstrably  injurious to Company;
(4)  at any  time  during  employment  at the  Company,  imparting  confidential
information,  whether  proprietary,  to any person other than (i) an  authorized
employee  of the  Company;  or (ii) as  required  by law,  or (iii) as part of a
privileged communication to an attorney; (5) receiving,  during the term of this
Agreement,  compensation,  income, anything of value, or a future interest in or
future entitlement to compensation,  income or a thing of value, from any person
or entity who or which is engaged in the same or substantially the same business

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<PAGE>

as the Company in the same product,  service or  geographical  market (within 50
miles),  except stock dividends and/or capital gains from passive investments in
financial  institutions by Executive made in the ordinary course of business and
as part of Executive's investment portfolio.  However, cause shall not be deemed
to exist merely  because of a difference  of opinion  between  Executive and the
Company, or any employees,  directors or officers of either, as to philosophy of
management or other personal beliefs.

      11.   TERMINATION UPON SALE OF BUSINESS.  Notwithstanding  anything to the
contrary, the Company may terminate this Agreement upon ten (10) days' notice to
the Executive upon any of the following events:

            (a)   the sale by the Company of substantially  all of its assets to
                  a single purchaser or to a group of associated purchasers; or

            (b)   the merger or consolidation of the Company in a transaction in
                  which the  shareholders of the Company receive less than fifty
                  percent (50%) of the  outstanding  voting shares of the new or
                  continuing corporation; or

            (c)   the sale, exchange, or other disposition,  in one transaction,
                  of at least two-thirds (2/3) of the outstanding  shares of the
                  Company.

      In order to protect  Executive  against the possible  consequences of such
termination and thereby to induce  Executive to continue to serve as an employee
of Company, Company agrees that if (a) this Agreement is terminated as stated in
this  Section;  or (b) one of the  actions  stated in this  Section  occurs  and
Executive  leaves the employment of Company or the resulting entity for whatever
reason  (other  than  termination  for  cause)  within  one (1) year  after such
occurrence:

            (i)   Executive shall be considered  immediately and fully vested in
                  any issued but non-vested Options

            (ii)  Executive shall continue to be covered by all non-cash benefit
                  plans of Company except for the retirement plans or retirement
                  programs  in which  Executive  participates  or any  successor
                  plans or programs in effect on the date of such acquisition of
                  control,  for six (6) months  thereafter;  to  include  paying
                  Executive  a  severance  allowance  equal  to one  times  then
                  applicable  Annual  Base  Salary  provided,  however,  that if
                  during  such  time  period  Executive  should  enter  into the
                  employment of a competitor of Company,  his  participation  in
                  such  non-cash   benefit  plans  would  cease.  In  the  event
                  Executive  is  ineligible  under  the  terms of such  plans to
                  continue to be so covered, Company shall provide substantially
                  equivalent coverage through other sources.

      Executive's  benefits  hereunder  shall  be  considered  severance  pay in
consideration  of his past service,  and pay in  consideration  of his continued
service from the date hereof and his  entitlement  thereto shall not be governed
by any duty to mitigate his damages by seeking further  employment nor offset by
any compensation which he may receive from future employment.

      12.   COMPETITION DURING AND AFTER TERM.  Executive agrees that during the
Term hereof,  and for a period of one year after the  expiration of the Term, he
will not, either separately, jointly, or in association with others, directly or
indirectly,  as an agent, employee, owner, partner,  stockholder,  or otherwise,
allow his name to be used by, or establish,  engage in, or become  interested in
any business substantially providing services similar to those of the Company in
any county in any of the States of the United States in which Company's business
is  being  conducted  at the time of  termination,  as long as  Company,  or any
person,  firm, or corporation  deriving title to the goodwill of, or shares from
it, carries on a like business therein.  Notwithstanding the preceding sentence,
Executive  shall be  allowed to engage in or be  interested  in  businesses  and

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<PAGE>

activities  provided that his interest or involvement therein does not otherwise
violate any other term or provision  of this  Agreement.  Company and  Executive
acknowledge  that  during the Term of  Executive's  employment,  Executive  will
acquire  special  knowledge  and/or  skill  that he can  effectively  utilize in
competition with Company. Furthermore,  although not a term or condition of this
Agreement,  Company and Executive acknowledge that, as of the date hereof, it is
reasonably contemplated that Executive's services will be utilized by Company in
executive,  managerial,  and/or supervisory  capacities  throughout the areas in
which Company conducts its business,  and in the general  operation of Company's
business wherever it is being conducted, throughout the world.

      Executive  agrees  that the  remedy  at law for any  breach  by him of the
covenants  contained  herein  will be  inadequate,  and  that in the  event of a
violation of the covenants  contained  herein,  in addition to any and all legal
and  equitable  remedies  which  may be  available,  the said  covenants  may be
enforced by an injunction in a suit in equity,  without the necessity of proving
actual damage, and that a temporary  injunction may be granted  immediately upon
the commencement of any such suit, and without notice. The parties hereto intend
that the  covenants  contained in this Section shall be deemed to be a series of
separate  covenants,  one for each  county  of each  state  where  Company  does
business. If, in any judicial proceeding, a court shall refuse to enforce any or
all of the  separate  covenants  deemed  included  in  such  action,  then  such
unenforceable  covenants shall be deemed  eliminated from the provisions  hereof
for the  purposes  of such  proceeding  to the  extent  necessary  to permit the
remaining separate covenants to be enforced in such proceeding.  Furthermore, if
in any  judicial  proceeding  a court shall  refuse to enforce  any  covenant by
reason of the duration or extent  thereof;  such covenant  shall be construed to
have only the maximum duration or extent permitted by law.

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

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

      15.   WAIVER.  The waiver by the Company of a breach of any  provision  of
this Agreement by the Executive shall not operate or be construed as a waiver of
any  subsequent  breach  by  the  Executive.  Concurrently,  the  waiver  by the
Executive of a breach of any  provision of this  Agreement by the Company  shall
not operate or be construed as a waiver of any subsequent  breach by the Company
No waiver shall be valid unless in writing and signed by an  authorized  officer
of the Company or by the Executive.

      16.   ASSIGNMENT.  The  Executive  acknowledges  that the  services  to be
rendered by him are unique and  personal.  Accordingly,  the  Executive  may not
assign any of his rights or delegate any of his duties or obligations under this
Agreement.  The rights and obligations of the Company under this Agreement shall
inure to the benefit of and shall be binding upon the  successors and assigns of
the Company.

      17.   ENTIRE AGREEMENT.  This Agreement contains the entire  understanding
of the parties. It may not be changed orally but only by an agreement in writing
signed  by  the  party  against  whom   enforcement   of  any  waiver,   change,
modification, extension, or discharge is sought.

                                                                             E-7
<PAGE>

      18.   GOVERNING  LAW.  This  Agreement  shall be construed and enforced in
accordance with the laws of the State of Arizona.

      19.   ARBITRATION. The parties agree that they will use their best efforts
to amicably  resolve any dispute  arising out of or relating to this  Agreement.
Any controversy, claim or dispute that cannot be so resolved shall be settled by
final  binding  arbitration  in  accordance  with  the  rules  of  the  American
Arbitration  Association  and judgment upon the award rendered by the arbitrator
or arbitrators may be entered in any court having jurisdiction thereof. Any such
arbitration shall be conducted in the State of Arizona,  County of Maricopa,  or
such other  place as may be  mutually  agreed  upon by all the  parties.  Within
fifteen (15) days after the  commencement of the  arbitration,  each party shall
select one person to act as  arbitrator,  and the two  arbitrators  so  selected
shall select a third  arbitrator with ten (10) days of their  appointment.  Each
party  shall  bear  its  own  costs  and  expenses  and an  equal  share  of the
arbitrator's expenses and administrative fees of arbitration.

      20.   NOTICES.  Notices shall be as given to each of the parties hereto at
such  address or  addresses  as each party  shall  provide  from time to time in
writing to the other. Initially such notices shall be sent,

            If to Executive:  Bob Cumming,  13428 Maxella, #304, Marina Del Rey,
      CA 90292.

            If to Company:  FBO Air, Inc.,  c/o Ron  Ricciardi,  9087 E. Charter
      Oak, Scottsdale, AZ 85260

                                                                             E-8
<PAGE>

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

COMPANY:                                         EXECUTIVE:

FBO Air, Inc.

   /s/ Ron Ricciardi                             /s/  W.R. "Robert" Cumming
-----------------------------                    -------------------------------
Ron Ricciardi                                    W. R. "Robert" Cumming

Its: President & CEO
   --------------------------

                                                                             E-9

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