Document:

EX-10.1

                                 AVANTAIR, INC.

                            INVESTOR RIGHTS AGREEMENT

                                 OCTOBER 2, 2006

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                                 AVANTAIR, INC.

                            INVESTOR RIGHTS AGREEMENT

        This Investor Rights  Agreement  (this  "AGREEMENT") is made and entered
into as of October 2, 2006 (the "EFFECTIVE DATE") by and among Avantair, Inc., a
Nevada  corporation (the "COMPANY") and the holders of Class A Common Stock (the
"SERIES  A STOCK")  as set  forth on  Exhibit  A hereto  (the  "HOLDERS"  or the
"INVESTORS").

                                    RECITALS

        A.      The Company and the Investors are parties to a Series A Common
Stock Purchase Agreement of even date herewith (the "SERIES A AGREEMENT").

        B.      In order to induce the Investors to enter into the Series A
Agreement and invest funds in the Company pursuant thereto, the Company desires
to enter into this Agreement with the Series A Holders.

        Therefore, the parties agree as follows:

        1.      DEFINITIONS.

                1.1     "ARDENT CLOSING" means, the closing of the transactions
contemplated by the Stock Purchase Agreement by and among the stockholders of
the Company and Ardent Acquisition Corp.

                1.2     "AFFILIATE" means, with respect to any specified
individual or entity, any other individual or entity who or that, directly or
indirectly, controls, is controlled by, or is under common control with such
specified individual or entity, including without limitation any partner,
officer, director, manager or employee of such entity and any venture capital
fund now or hereafter existing that is controlled by or under common control
with one or more general partners or managing members of, or shares the same
management company with, such individual or entity.

                1.3     "COMMON STOCK" means the Class A Common Stock, $0.01 PAR
VALUE,of the Company.

                1.4     "EQUITY SECURITIES" means (i) Common Stock, rights,
options or warrants to purchase Common Stock, (ii) any security other than
Common Stock having voting rights in the election of the Board of Directors or
(iii) any security convertible into or exchangeable for any of the foregoing.

                1.5     "EXCHANGE ACT" means the Securities Exchange Act of
1934, as amended.

                1.6     "FORM S-3" means such form under the Securities Act as
is in effect on the date hereof or any successor registration form under the
Securities Act subsequently adopted by the SEC (as defined below) which permits
inclusion or incorporation of substantial

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information by reference to other documents filed by the Company with the SEC
(as defined below).

                1.7     "HOLDER" means any Investor that holds Registrable
Securities or securities convertible into Registrable Securities or any assignee
of record of such Registrable Securities to whom rights under Section 2 have
been duly assigned in accordance with Section 0 hereof.

                1.8     "REGISTER," "REGISTERED" and "REGISTRATION" refer to a
registration effected by the preparation and filing of a registration statement
in compliance with the Securities Act, and the declaration or ordering of
effectiveness of such registration statement.

                1.9     "REGISTRABLE SECURITIES" means: (a) if the Ardent
Closing does occur (i) any and all shares of common stock of Ardent Acquisition
Corp. issued to Holder in connection with the Ardent Closing and (ii) any shares
of common stock of Ardent Acquisition Corp. issued as (or issuable upon the
conversion or exercise of any warrant, right or other security which is issued
as) a dividend or other distribution with respect to, in exchange for, or in
replacement of, such shares of common stock described in clause (i) and (iii)
any warrants issued to Holders pursuant to Section 2.1(a)(ii) herein and any
shares of common stock of Ardent Acquisition Corp. issued or issuable upon the
exercise of any such warrants; PROVIDED, HOWEVER, that particular shares of any
of the foregoing shall cease to be Registrable Securities once they have been
sold to in any public offering or transferred by the Holder in a transaction in
which its rights under this Agreement are not assigned in accordance with the
provisions of this Agreement and (b) if the Ardent Closing does not occur (i)
any and all shares of Series A Stock or any common stock of the Company issued
or issuable upon conversion of the shares of Series A Stock and (ii) any shares
of common stock issued as (or issuable upon the conversion or exercise of any
warrant, right or other security which is issued as) a dividend or other
distribution with respect to, in exchange for, or in replacement of, such shares
of common stock described in clause (i); PROVIDED, HOWEVER, that particular
shares of any of the foregoing shall cease to be Registrable Securities once
they have been sold to in any public offering or transferred by the Holder in a
transaction in which its rights under this Agreement are not assigned in
accordance with the provisions of this Agreement

                1.9     "REGISTRABLE SECURITIES THEN OUTSTANDING" means the
number of Registrable Securities which (i) are then issued and outstanding or
(ii) are then issuable pursuant to the exercise or conversion of options,
warrants or convertible securities.

                1.10    "SEC" means the United States Securities and Exchange
Commission.

                1.11    "SECURITIES ACT" means the Securities Act of 1933, as
amended.

        2.      REGISTRATION RIGHTS.

                2.1     MANDATORY SHELF REGISTRATION.

                        (a)     MANDATORY SHELF REGISTRATION IN EVENT OF THE
ARDENT CLOSING. (i) The Company agrees to file with the Commission as soon as
reasonably practicable, but in no event later than sixty (60) days following the
Ardent Closing, a shelf Registration Statement on

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Form S-3 or such other form under the Securities Act then available to the
Company providing for the resale pursuant to Rule 415 from time to time by the
Holders of any and all Registrable Shares (including the prospectus, amendments
and supplements to such registration statement or prospectus, including pre- and
post-effective amendments, all exhibits thereto and all material incorporated by
reference or deemed to be incorporated by reference, if any, in such
registration statement, the "Mandatory Shelf Registration Statement"). The
Company shall use its commercially reasonable efforts to cause such Mandatory
Shelf Registration Statement to be declared effective by the Commission as soon
as reasonably practicable following such filing and to keep it current and
effective until no longer necessary pursuant to Section 2.9 hereof. Any
Mandatory Shelf Registration Statement shall provide for the resale from time to
time, and pursuant to any method or combination of methods legally available
(including, without limitation, a direct sale to purchasers, a sale through
brokers or agents, or a sale over the internet) by the Holders of any and all
Registrable Shares. The Company agrees to follow identical registration and
penalty procedures as set forth in this Section 2.1 with respect to any equity
securities of Ardent Acquisition Corp. issued to Holders, or their transferees,
pursuant to Sections 1.6, 1.7 and 1.8 of the Agreement referred to in Section
1.1 herein; provided, however, that the relevant 60 day period will start from
the date of issuance of any equity securities pursuant to such Sections 1.6, 1.7
and 1.8.

                        (ii)    In the event that the Mandatory Shelf
Registration Statement is not filed with the Securities and Exchange Commission
within 60 days after the date of the Ardent Closing , the Company shall cause
Ardent Acquisition Corp. to promptly issue to each Holder warrants to purchase a
number of shares of Ardent Acquisition Corp. common stock , which warrants shall
have an exercise price of $5.00 per share and shall be identical to Ardent
Acquisition Corp.'s currently publicly traded warrants, calculated by (x)
multiplying (a) the aggregate amount invested by such Holder pursuant to the
Series A Agreement by (b) 0.02, and (y) dividing such amount by 5. Each Holder
shall be entitled to such warrants for each consecutive thirty (30) day period
for which the Mandatory Shelf Registration Statement remains not filed with the
Securities and Exchange Commission by Ardent Acquisition Corp. For example , if
a Holder invests $100,000 under the Series A Agreement, such Holder would be
entitled to receive warrants to purchase 400 shares of Ardent Acquisition Corp.
common stock at an exercise price of $5.00 per share on the 60 day anniversary
of the Ardent Closing and on each consecutive 30 day anniversary thereafter
until Ardent Acquisition Corp. files the Mandatory Shelf Registration
Statement..

        (b)     REGISTRATION RIGHTS IF ARDENT CLOSING DOES NOT OCCUR.

                (i)     Request by Holders. If the Company shall receive at any
time after the date hereof, a written request from the Holders of at least fifty
percent (50%) of the then outstanding Registrable Securities (the "INITIATING
HOLDERS") that the Company file a registration statement under the Securities
Act covering the registration of Registrable Securities pursuant to this Section
2.1(b) with an anticipated aggregate offering price of at least $2,500,000 (net
of underwriting discounts and commissions), then the Company shall, within
twenty (20) days after the receipt of such written request, give written notice
of such request (the "REQUEST NOTICE") to all Holders, and use all reasonable
efforts to effect, as soon as practicable, the registration under the Securities
Act of all Registrable Securities which Holders request to be registered and

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included in such registration by written notice given by such Holders to the
Company within twenty (20) days after receipt of the Request Notice, subject
only to the limitations of this Section 2. The Company may, if permitted by law,
effect any registration pursuant to this Section 2.1(b) by the filing of a
registration statement on Form S-3.

                (ii)    Underwriting. If the Initiating Holders intend to
distribute the Registrable Securities covered by their request by means of an
underwriting, then they shall so advise the Company as a part of their request
made pursuant to this Section 2.1(b) and the Company shall include such
information in the written notice referred to in subsection Section 2.1(b). In
such event, the right of any Holder to include his, her, or its Registrable
Securities in such registration shall be conditioned upon such Holder's
participation in such underwriting and the inclusion of such Holder's
Registrable Securities in the underwriting (unless otherwise mutually agreed by
a majority in interest of the Initiating Holders and such Holder) to the extent
provided herein. All Holders proposing to distribute their securities through
such underwriting shall enter into an underwriting agreement in customary form
with the managing underwriter or underwriters selected for such underwriting by
the Company. Notwithstanding any other provision of this Section 2.1(b), if the
underwriter(s) advise(s) the Company in writing that marketing factors require a
limitation of the number of securities to be underwritten then the Company shall
so advise all Holders of Registrable Securities that would otherwise be
registered and underwritten pursuant hereto, and the number of Registrable
Securities that may be included in the underwriting shall be reduced as required
by the underwriter(s) and allocated among the Holders of Registrable Securities
on a pro rata basis according to the number of Registrable Securities then
outstanding held by each Holder requesting registration (including the
Initiating Holders); provided, however, that the number of shares of Registrable
Securities to be included in such underwriting and registration shall not be
reduced unless all other securities of the Company are first entirely excluded
from the underwriting and registration. Any Registrable Securities excluded and
withdrawn from such underwriting shall be withdrawn from the registration.

                (iii)   Maximum Number of Demand Registrations. The Company is
obligated to effect only two such registration pursuant to Section 2.1(b)(ii).

                (iv)    Deferral. Notwithstanding the foregoing, if the Company
shall furnish to Holders requesting the filing of a registration statement
pursuant to this Section 2.1(b), a certificate signed by the President or Chief
Executive Officer of the Company stating that in the good faith judgment of the
Board of Directors of the Company, it would be detrimental to the Company and
its shareholders for such registration statement to be filed and it is therefore
essential to defer the filing of such registration statement, then the Company
shall have the right to defer such filing for a period of not more than ninety
(90) days after receipt of the request of the Initiating Holders; provided,
however, that the Company may not utilize this right more than once in any
twelve (12) month period.

                (vi)    PIGGYBACK REGISTRATIONS. The Company shall notify all
Holders of Registrable Securities in writing at least thirty (30) days prior to
filing any registration statement under the Securities Act for purposes of
effecting a public offering of securities of the Company (including, but not
limited to, registration statements relating to secondary offerings of
securities of the Company, but excluding registration statements relating to any
employee benefit plan or a corporate reorganization or other transaction covered
by Rule 145 promulgated under

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the Securities Act, or a registration on any registration form which does not
permit secondary sales or does not include substantially the same information as
would be required to be included in a registration statement covering the sale
of Registrable Securities) and will afford each such Holder an opportunity to
include in such registration statement all or any part of the Registrable
Securities then held by such Holder. Each Holder desiring to include in any such
registration statement all or any part of the Registrable Securities held by
such Holder shall, within twenty (20) days after receipt of the above-described
notice from the Company, so notify the Company in writing, and in such notice
shall inform the Company of the number of Registrable Securities such Holder
wishes to include in such registration statement. If a Holder decides not to
include all of its Registrable Securities in any registration statement
thereafter filed by the Company, such Holder shall nevertheless continue to have
the right to include any Registrable Securities in any subsequent registration
statement or registration statements as may be filed by the Company with respect
to offerings of its securities, all upon the terms and conditions set forth
herein.

                (vii)   Underwriting. If a registration statement under which
the Company gives notice under this Section 2.1 is for an underwritten offering,
then the Company shall so advise the Holders of Registrable Securities. In such
event, the right of any such Holder's Registrable Securities to be included in a
registration pursuant to this Section 2.1 shall be conditioned upon such
Holder's participation in such underwriting and the inclusion of such Holder's
Registrable Securities in the underwriting to the extent provided herein. All
Holders proposing to distribute their Registrable Securities through such
underwriting shall enter into an underwriting agreement in customary form with
the managing underwriter or underwriter(s) selected for such underwriting.
Notwithstanding any other provision of this Agreement, if the managing
underwriter determine(s) in good faith that marketing factors require a
limitation of the number of shares to be underwritten, then the managing
underwriter(s) may exclude shares (including Registrable Securities) from the
registration and the underwriting, and the number of shares that may be included
in the registration and the underwriting shall be allocated, first, to the
Company, and second to Holders requesting inclusion of their Registrable
Securities in such registration statement on a pro rata basis based on the
number of Registrable Securities each such Holder has requested to be included
in the registration. If any Holder disapproves of the terms of any such
underwriting, such Holder may elect to withdraw therefrom by written notice to
the Company and the underwriter, delivered at least ten (10) business days prior
to the effective date of the registration statement. Any Registrable Securities
excluded or withdrawn from such underwriting shall be excluded and withdrawn
from the registration. For any Holder that is a partnership or corporation, the
partners, retired partners and shareholders of such Holder, or the estates and
family members of any such partners and retired partners and any trusts for the
benefit of any of the foregoing persons shall be deemed to be a single "Holder,"
and any pro rata reduction with respect to such "Holder" shall be based upon the
aggregate amount of shares carrying registration rights owned by all entities
and individuals included in such "Holder," as defined in this sentence.

                (viii)  Form S-3 Registration. In case the Company shall receive
from the Holders of at least twenty percent (20%) of the Registrable Securities
a written request or requests that the Company effect a registration on Form S-3
and any related qualification or compliance with respect to all or a part of the
Registrable Securities owned by such Holder or Holders, the Company shall:

<PAGE>

                        (a) promptly give written notice of the proposed
registration, and any related qualification or compliance, to all other Holders;
and

                        (b) use its best efforts to effect, as soon as
practicable, such registration and all such qualifications and compliances as
may be so requested and as would permit or facilitate the sale and distribution
of all or such portion of such Holders' Registrable Securities as are specified
in such request, together with all or such portion of the Registrable Securities
of any other Holders joining in such request as are specified in a written
request given within sixty (60) days after receipt of such written notice from
the Company, provided, however, that the Company shall not be obligated to
effect any such registration, qualification or compliance, pursuant to this
Section 2.1(b)(viii):

                (i)     if Form S-3 is not available for such offering by the
Holders;

                (ii)    if the Holders, together with the holders of any other
securities of the Company entitled to inclusion in such registration, propose to
sell Registrable Securities and such other securities (if any) at an aggregate
price to the public (net of any underwriters' discounts or commissions) of less
than $2,500,000;

                (iii)   if the Company shall furnish to the Holders a
certificate signed by the Chief Executive Officer or Chairman of the Board of
the Company stating that in the good faith judgment of the Board of Directors of
the Company, it would be seriously detrimental to the Company and its
stockholders for such Form S-3 Registration to be effected at such time, in
which event the Company shall have the right to defer the filing of the Form S-3
registration statement for a period of not more than forty five (45) days after
receipt of the request of the Holder or Holders under this Section 2.1(b)(viii);
provided, however, that the Company shall not utilize this right more than once
in any twelve month period;

                (iv)    in any particular jurisdiction in which the Company
would be required to qualify to do business or to execute a general consent to
service of process in effecting such registration, qualification or compliance.

                        (c)     Subject to the foregoing, the Company shall file
a registration statement covering the Registrable Securities and other
securities so requested to be registered as soon as practicable after receipt of
the request or requests of the Holders.

                                        (ix)    Expenses. All expenses incurred
in connection with a registration pursuant to this Section 2.1, including
without limitation all registration and qualification fees, printers' and
accounting fees, fees and disbursements of counsel for the Company (but
excluding underwriters' discounts and commissions) shall be borne by the
Company. Each Holder participating in a registration pursuant to this Section
2.1 shall bear such Holder's proportionate share (based on the number of shares
sold by such Holder over the total number of shares included in such
registration at the time it goes effective) of all discounts, commissions or
other amounts payable to underwriters or brokers in connection with such
offering.

<PAGE>

                2.2     OBLIGATIONS OF THE COMPANY. Whenever required under this
Section 2 to effect the registration of any Registrable Securities, the Company
shall, as expeditiously as reasonably possible:

                        (a)     prepare and file with the SEC such amendments
and supplements to such registration statement and the prospectus used in
connection with such registration statement as may be necessary to comply with
the provisions of the Securities Act with respect to the disposition of all
securities covered by such registration statement;

                        (b)     furnish to the selling Holders such number of
copies of a prospectus, including a preliminary prospectus, in conformity with
the requirements of the Securities Act, and such other documents as they may
reasonably request in order to facilitate the disposition of the Registrable
Securities owned by them that are included in such registration;

                        (c)     use its commercially reasonable efforts to
register and qualify the securities covered by such registration statement under
such other securities or blue sky laws of such states or other jurisdictions as
shall be reasonably requested by the selling Holders, PROVIDED that the Company
shall not be required in connection therewith or as a condition thereto to
qualify to do business or to file a general consent to service of process in any
such states or jurisdictions;

                        (d)     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 Securities Act of the happening of
any event as a result of which the prospectus included in such registration
statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to
make the statements therein not misleading in the light of the circumstances
then existing;

                        (e)     use commercially reasonable efforts to cause all
such Registrable Securities registered pursuant hereunder to be listed on a
national securities exchange or trading system and ach securities exchange and
trading system (if any) on which similar securities issued by the Company are
then listed;

                        (f)     provide a transfer agent and registrar for all
Registrable Securities registered pursuant to such registration statement and a
CUSIP number for all such Registrable Securities, in each case not later than
the effective date of such registration; and

                        (g)     promptly make available for inspection by the
selling Holders, any attorney or accountant or other agent retained by any such
underwriter or selected by the selling Holders, all financial and other records,
pertinent corporate documents and properties of the Company and cause the
Company's officers, directors, employees and independent accountants to supply
all information reasonably requested by any such seller, underwriter, attorney,
accountant or agent in connection with any such registration statement.

                2.3     FURNISH INFORMATION. It shall be a condition precedent
to the obligations of the Company to take any action pursuant to Section 2.1
hereof that the selling Holders shall furnish to the Company such information
regarding themselves, the Registrable Securities held

<PAGE>

by them and the intended method of disposition of such securities as shall be
required to timely effect the registration of their Registrable Securities.

                2.4     EXPENSES. All expenses (other than underwriting
discounts and commissions) incurred in connection with a registration pursuant
to Section 2, including, without limitation, registration, filing and
qualification fees, printers' and accounting fees, fees and disbursements of
counsel for the Company, fees and disbursements of one counsel acting on behalf
of the Holders, shall be borne by the Company.

                2.5     DELAY OF REGISTRATION. No Holder shall have any right to
obtain or seek an injunction restraining or otherwise delaying any such
registration as the result of any controversy that might arise with respect to
the interpretation or implementation of this Section 2.

                2.6     INDEMNIFICATION. In the event any Registrable Securities
are included in a registration statement under Section 2 hereof:

                        (a)     BY THE COMPANY. To the extent permitted by law,
the Company shall indemnify and hold harmless each Holder, the partners,
members, officers and directors of each Holder, legal counsel and accountants
for each Holder, any underwriter (as defined in the Securities Act) for such
Holder and each person, if any, who controls such Holder or underwriter within
the meaning of the Securities Act or the Exchange Act, against any expenses,
losses, claims, damages or liabilities (joint or several) to which they may
become subject under the Securities Act, the Exchange Act or other federal or
state law, insofar as such expenses, losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon any of the following
statements, omissions or violations (each a "VIOLATION"):

                                (i)     any untrue statement or alleged untrue
statement of a material fact contained in such registration statement, including
any preliminary prospectus or final prospectus contained therein or any
amendments or supplements thereto;

                                (ii)    the omission or alleged omission to
state therein a material fact required to be stated therein, or necessary to
make the statements therein not misleading; or

                                (iii)   any violation or alleged violation by
the Company of the Securities Act, the Exchange Act, any federal or state
securities law or any rule or regulation promulgated under the Securities Act,
the Exchange Act or any federal or state securities law in connection with the
offering covered by such registration statement;

and the Company shall reimburse each such Holder, partner,  officer or director,
underwriter  or controlling  person for any legal or other  expenses  reasonably
incurred by them, as incurred, in connection with investigating or defending any
such loss,  claim,  damage  liability  or action;  PROVIDED,  HOWEVER,  that the
indemnity  agreement contained in this Section 2.6(a) shall not apply to amounts
paid in settlement of any such expense, loss, claim, damage, liability or action
if such settlement is effected without the consent of the Company (which consent
shall not be unreasonably withheld), nor shall the Company be liable in any such
case for any such loss, claim, damage, liability or action to the extent that it
arises out of or is based upon actions or omissions made in reliance upon and in
conformity  with  written  information  furnished  by or on

<PAGE>

behalf of any such Holder, partner, officer or director, underwriter or
controlling person expressly for use in connection with such registration by
such Holder, partner, officer, director, underwriter or controlling person.

                        (b)     BY SELLING HOLDERS. To the extent permitted by
law, each selling Holder shall indemnify and hold harmless the Company, each of
its directors, each of its officers who have signed the registration statement,
each person, if any, who controls the Company within the meaning of the
Securities Act, legal counsel and accountants for the Company, any underwriter
and any other Holder selling securities under such registration statement or any
of such other Holder's partners, directors or officers or any person who
controls such Holder within the meaning of the Securities Act or the Exchange
Act, against any expenses, losses, claims, damages or liabilities (joint or
several) to which any of the foregoing persons may become subject under the
Securities Act, the Exchange Act or other federal or state law, insofar as such
expenses, losses, claims, damages or liabilities (or actions in respect thereto)
arise out of or are based upon any Violation, in each case to the extent (and
only to the extent) that such Violation arises out of or is based on actions or
omissions made in reliance upon and in conformity with written information
furnished by such Holder expressly for use in connection with such registration;
and each such Holder shall reimburse the Company and such other persons for any
legal or other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or action;
PROVIDED, HOWEVER, that the indemnity agreement contained in this Section 2.6(b)
shall not apply to amounts paid in settlement of any such expense, loss, claim,
damage, liability or action if such settlement is effected without the consent
of the Holder, which consent shall not be unreasonably withheld; and PROVIDED
FURTHER, that the total amounts payable in indemnity by a Holder under this
Section 2.6(b) in respect of any Violation shall not exceed the net proceeds
received by such Holder in the registered offering out of which such Violation
arises except in the case of fraud or willful misconduct by such Holder.

                        (c)     NOTICE. Promptly after receipt by an indemnified
party under this Section 2.6 of notice of the commencement of any action
(including any governmental action) for which a party may be entitled to
indemnification hereunder, such indemnified party shall, if a claim in respect
thereof is to be made against any indemnifying party under this Section 2.6,
deliver to the indemnifying party a written notice of the commencement thereof,
and the indemnifying party shall have the right to participate in such action
and, to the extent the indemnifying party so desires, jointly with any other
indemnifying party to which notice has been given, to assume the defense thereof
with counsel mutually satisfactory to the parties; PROVIDED, HOWEVER, that an
indemnified party (together with all other indemnified parties that may be
represented without conflict by one counsel) shall have the right to retain its
own counsel, with the fees and expenses to be paid by the indemnifying party, if
representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing
interests between such indemnified party and any other party represented by such
counsel in such proceeding. The failure to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any such
action, if prejudicial to its ability to defend such action, shall relieve such
indemnifying party of any liability to the indemnified party under this Section
2.6, but the omission so to deliver written notice to the indemnifying party
will not relieve it of any liability that it may have to any indemnified party
otherwise than under this Section 2.6.

<PAGE>

                        (d)     DEFECT ELIMINATED IN FINAL PROSPECTUS. The
foregoing indemnity agreements of the Company and Holders are subject to the
condition that, insofar as they relate to any Violation made in a preliminary
prospectus but eliminated or remedied in the amended prospectus on file with the
SEC at the time the registration statement in question becomes effective or the
amended prospectus filed with the SEC pursuant to SEC Rule 424(b) (the "FINAL
PROSPECTUS"), such indemnity agreement shall not inure to the benefit of any
indemnified party if a copy of the Final Prospectus was timely furnished to that
indemnified party and was not furnished to the person asserting the expense,
loss, liability, claim or damage at or prior to the time such action is required
by the Securities Act.

                        (e)     CONTRIBUTION. In order to provide for just and
equitable contribution to joint liability under the Securities Act in any case
in which either (i) any party otherwise entitled to indemnification hereunder
makes a claim for indemnification pursuant to this Section 2.6 but it is
judicially determined (by the entry of a final judgment or decree by a court of
competent jurisdiction and the expiration of time to appeal or the denial of the
last right of appeal) that such indemnification may not be enforced in such case
notwithstanding the fact that this Section 2.6 provides for indemnification in
such case, or (ii) contribution under the Securities Act may be required on the
part of any party hereto for which indemnification is provided under this
Section 2.6; then, and in each such case, such parties will contribute to the
aggregate expenses, losses, claims, damages or liabilities to which they may be
subject (after contribution from others) in such proportion as is appropriate to
reflect the relative fault of the indemnifying party and the indemnified party
in connection with the Violation that resulted in such expense, loss, claim,
damage or liability as well as other equitable considerations. The relative
fault of such parties shall be determined by reference to, among other things,
whether the untrue or allegedly untrue statement of a material fact or the
omission or alleged omission of a material fact relates to information supplied
by the indemnifying party or indemnified party and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission; PROVIDED, HOWEVER, that, in any such case, (A) no such
Holder will be required to contribute any amount in excess of the net proceeds
from the sale of all such Registrable Securities offered and sold by such Holder
pursuant to such registration statement, and (B) no individual or entity guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) will be entitled to contribution from any individual or entity
who was not guilty of such fraudulent misrepresentation; and PROVIDED FURTHER,
that in no event shall a Holder's liability pursuant to this Section 2.6(e),
when combined with the amounts paid or payable by such Holder pursuant to
Section 2.6(b), exceed the net proceeds from the offering received by such
Holder, except in the case of willful misconduct or fraud by such Holder.

                        (f)     SURVIVAL. Unless otherwise superseded by an
underwriting agreement entered into in connection with the offering, the
obligations of the Company and Holders under this Section 2.6 shall survive the
completion of any offering of Registrable Securities in a registration under
this Section 2, and otherwise shall survive the termination of this Agreement.

        2.7     RULE 144 REPORTING. With a view to making available the benefits
of certain rules and regulations of the SEC which may at any time permit the
sale of the Registrable

<PAGE>

Securities to the public without registration, after such time as a public
market exists for the Common Stock, the Company agrees to:

                        (a)     make and keep public information available, as
those terms are understood and defined in Rule 144 under the Securities Act, at
all times after the effective date of the first registration under the
Securities Act filed by the Company for an offering of its securities to the
general public;

                        (b)     use its commercially reasonable efforts to file
with the SEC in a timely manner all reports and other documents required of the
Company under the Securities Act and the Exchange Act (at any time after it has
become subject to such reporting requirements); and

                        (c)     furnish to any Holder, so long as the Holder
owns any Registrable Securities, forthwith upon request (i) a written statement
by the Company as to its compliance with the reporting requirements of said Rule
144 (at any time after ninety (90) days after the effective date of the first
registration statement filed by the Company for an offering of its securities to
the general public), and of the Securities Act and the Exchange Act (at any time
after it has become subject to the reporting requirements of the Exchange Act),
(ii) a copy of the most recent annual or quarterly report of the Company and
(iii) such other reports and documents of the Company as a Holder may reasonably
request in availing itself of any rule or regulation of the Commission allowing
a Holder to sell any such securities without registration (at any time after the
Company has become subject to the reporting requirements of the Exchange Act).

                2.8     "MARKET STAND-OFF" AGREEMENT. If the Ardent Closing does
not occur, Holder hereby agrees that it will not, without the prior written
consent of the managing underwriters, during the period commencing on the
effective date of registration statement relating to any registered public
offering of the Company's Common Stock and ending on the date specified by the
Company and the managing underwriters (such period not to exceed one hundred
eighty (180) days (i) lend, offer, pledge, sell, contract to sell, sell any
option or contract to purchase, purchase any option or contract to sell, grant
any option, right, or warrant to purchase, or otherwise transfer or dispose of,
directly or indirectly, any shares of Common Stock or any securities convertible
into or exercisable or exchangeable for Common Stock or (ii) enter into any swap
or other arrangement that transfers to another, in whole or in part, any of the
economic consequences of ownership of the Common Stock, whether any such
transaction described in clause (i) or (ii) above is to be settled by delivery
of Common Stock or other securities, in cash, or otherwise. The foregoing
provisions of this Section 2.8 shall not apply to the sale of any shares to an
underwriter pursuant to an underwriting agreement, and shall be applicable to
the Holders only if all officers and directors and all shareholders individually
owning more than one percent (1%) of the Company's outstanding Common Stock are
subject to the same restrictions. The underwriters in connection with the
offering are intended third-party beneficiaries of this Section 2.8 and shall
have the right, power, and authority to enforce the provisions hereof as though
they were a party hereto. Each Holder further agrees to execute such agreements
as may be reasonably requested by the managing underwriters in the offering that
are consistent with this Section 2.8 or that are necessary to give further
effect thereto. In order to enforce the foregoing covenant, the Company may
impose stop-transfer instructions with respect

<PAGE>

to the Registrable Securities of each Holder (and the shares or securities of
every other person subject to the foregoing restriction) until the end of such
period.

                2.9     ASSIGNMENT OF REGISTRATION RIGHTS. The rights to cause
the Company to register Registrable Securities pursuant to this Section 2 may be
assigned to a transferee or assignee in connection with any transfer or
assignment of Registrable Securities by the Holder, PROVIDED that (i) such
transfer or assignment may otherwise be effected in accordance with applicable
securities laws, (ii) such transferee or assignee acquires at least 50% of
Registrable Securities held by the Holder, (iii) written notice is promptly
given to the Company and (iv) such transferee or assignee agrees to be bound by
the provisions of this Agreement. The foregoing 50% limitation shall not apply,
however, to transfers or assignments by a Holder to (a) a partner, member or
shareholder of a Holder that is a partnership, limited liability company or
corporation, respectively, (b) a retired partner or member of such partnership
or limited liability company who retires after the date hereof, (c) the estate
of any such partner, member or shareholder or (d) an Affiliate of any such
partnership, limited liability company or corporation, (e) any spouse, parent,
child or sibling of such partner, member or shareholder or of the Holder,
including in-laws and persons related by adoption, or (f) any domestic partner
of such partner, member or shareholder or of the Holder who is covered under an
applicable domestic relations statute, PROVIDED that all such transferees or
assignees agree in writing to appoint a single representative as their
attorney-in-fact for the purpose of exercising any rights, receiving notices, or
taking any action under this Section 2.

                2.10    TERMINATION OF REGISTRATION RIGHTS. The Company's
obligations pursuant to Sections 2 Shall terminate as to any Holder, at such
time following as all Registrable Securities that such Holder holds or has the
right to acquire may immediately be sold in any three-month period without
registration pursuant to Rule 144 under the Securities Act.

        3.      RIGHTS TO PURCHASE ADDITIONAL STOCK.

                3.1     RIGHT OF FIRST OFFER. Subject to the terms of this
Section 3 and subject to the Ardent Closing not occurring by March 31, 2007 and
applicable securities laws, if the Company proposes to offer or sell any Equity
Securities after March 31, 2007, the Company shall give each Investor the right
to purchase such Investors' pro rata share of such Equity Securities, on the
same terms as the Company is willing to sell such Equity Securities to any other
person. An Investor's pro rata share of the Equity Securities shall be equal to
that percentage of the Outstanding Common Equivalents (as defined below) held by
such Investor on the date of the company's written notice referred to in Section
3.2 below. For purposes of this Section 3, the "OUTSTANDING COMMON EQUIVALENTS"
shall mean outstanding shares of Common Stock and all shares of Common Stock
issuable, directly or indirectly, upon exercise or conversion of any outstanding
warrants or options or any other right to acquire any of the foregoing. An
Investor shall be entitled to apportion this right of first offer among itself
and its Affiliates in such proportions as it deems appropriate.

                3.2     NOTICE; EXERCISE OF RIGHT. Prior to any sale or issuance
by the Company of any Equity Securities after March 31, 2007, the Company shall
give notice to each Investor of its intention to sell and issue such Equity
Securities, setting forth the terms under which it proposes to make such sale
(the "OFFER NOTICE"). Within twenty (20) days after receipt of the

<PAGE>

Offer Notice, each Investor shall notify the Company whether such Investor
desires to purchase its pro rata share, or any part thereof, of the Equity
Securities so offered. At the expiration of such twenty (20) day period, the
Company shall promptly give notice to each Investor that elects to purchase all
the shares available to it (each, a "FULLY EXERCISING INVESTOR") of any other
Investor's failure to do likewise, specifying the number of additional shares
that are available to the Fully Exercising Investors ("ADDITIONAL SHARES").
During the ten (10) day period commencing after the Company has given such
notice, each Fully Exercising Investor may, by giving notice to the Company,
elect to purchase, in addition to the number of shares specified above, up to
that portion of the Additional Shares which is equal to the proportion that the
Common Equivalents held by such Fully Exercising Investor bears to the Common
Equivalents then held by all Fully Exercising Investors who wish to purchase
such Additional Shares. If an Investor notifies the Company of its desire to
purchase any of the Equity Securities offered by the Company, the closing of the
sale shall occur within sixty (60) days of the date that the Offer Notice is
given or, if later, the closing date for the proposed sale of such Equity
Securities to third parties.

                3.3     PERMITTED SALES. With respect to any Equity Securities
that are not subscribed for by Investors after the end of the thirty (30) day
period specified in Section 3.2, the Company may, during a period of ninety (90)
days following the end of such period, offer and sell such Equity Securities to
other persons upon terms and conditions not less favorable to the Company than
those set forth in the notice to the Investors. In the event the Company has not
entered into a definitive agreement for the sale of the Equity Securities within
said 90 day period, or if such agreement is not consummated within thirty (30)
days after the consummation thereof, the Company shall not thereafter issue or
sell any Equity Securities without first offering such securities to the
Investors pursuant to this Section 3.

                3.4     EXCEPTIONS. The right of first offer contained in this
Section 3 shall not apply to issuances by the Company (i) of shares of Common
Stock issued or issuable to officers, directors or employees of, or consultants
to, the Company pursuant to any stock option plan or agreement or other stock
incentive program or agreement approved by the Board of Directors, (ii) as part
of an acquisition by the Company of all or substantially all of the assets or
shares of another company or entity through a merger, exchange, reorganization
or the like that is approved by the Board of Directors including the vote of at
least one director designated by the Holders (iii) in connection with a joint
venture, strategic investment and/or acquisition of technology or intellectual
property that is approved by the Board of Directors including the vote of at
least one director designated by the Holders, (v) to landlords, equipment
lessors, lenders or other financial institutions in commercial transactions or
arrangements approved by the Board of Directors including the vote of at least
one director designated by the Holders, (vi) directly or indirectly upon
conversion or exercise of shares of convertible securities, options or warrants
that are outstanding as of the date of this Agreement or (vii) in connection
with any stock split, stock dividend, reverse stock split or similar
recapitalization event.

        4.      OTHER COVENANTS OF THE COMPANY AND INVESTORS.

                4.1     BOARD OF DIRECTORS. In the event the Ardent Closing does
not occur by March 31, 2007, the Holders shall have a right to appoint an
individual to the Board of Directors,

<PAGE>

whose favorable vote shall be required to approve all material transactions and
transactions with affiliated parties.

                4.2     CONFIDENTIALITY. Each Investor agrees that such Investor
will keep confidential and will not disclose, divulge or use for any purpose
(other than to monitor its investment in the Company) any confidential
information obtained from the Company pursuant to the terms of this Agreement
(including notice of the Company's intention to file a registration statement)
unless such confidential information (a) is known or becomes known to the public
in general (other than as a result of a breach of this Section 4.2 by such
Investor), (b) is or has been independently developed or conceived by the
Investor without use of the Company's confidential information, or (c) is or has
been made known or disclosed to the Investor by a third party without a breach
of any obligation of confidentiality such third party may have to the Company;
PROVIDED, HOWEVER, that an Investor may disclose confidential information (i) to
its attorneys, accountants, consultants, and other professionals to the extent
necessary to obtain their services in connection with monitoring its investment
in the Company, (ii) to any prospective purchaser of any Registrable Securities
from such Investor, if such prospective purchaser agrees to be bound by the
provisions of this Section 4.2, (iii) to any Affiliate, partner, member,
stockholder, or wholly owned subsidiary of such Investor in the ordinary course
of business, provided that such Investor informs such Person that such
information is confidential and directs such Person to maintain the
confidentiality of such information, or (iv) as may otherwise be required by
law, provided that the Investor promptly notifies the Company of such disclosure
and takes reasonable steps to minimize the extent of any such required
disclosure.

                4.3     CO-SALE RIGHTS.

                        (a)     In the event that the Ardent Closing does not
occur by March 31, 2007, then if any of Steve Santo, John Waters, Jeff Kirby and
Kevin McKamey seek to transfer any equity securities ("Applicable Equity
Security") of the Company (each a "Transferring Holder"), such Transferring
Holder shall notify each Holder (though for such purposes of this Section 4.3
"Holder" shall not include any of Messrs. Santo, Kirby, Waters and McKamey) of
the proposed transfer and the terms and conditions of such transfer (the
"Transfer Notice"). Each Holders shall then be able to exercise their right of
co-sale with respect to the proposed Transfer. Each Holder shall notify the
Transferring Holder in writing within thirty (30) days after receipt of the
Transfer Notice. Each Holder shall have the right to participate in such sale of
Applicable Equity Securities on the same terms and conditions as specified in
the Transfer Notice. Such Selling Holder's notice to the Transferring Holder
shall indicate the number of shares of Applicable Equity Securities the Selling
Holder wishes to sell under his, her or its right to participate. To the extent
one or more of the Holders exercise such right of participation in accordance
with the terms and conditions set forth below, the number of shares of
Applicable Equity Securities that the Transferring Holder may sell in the
Transfer shall be correspondingly reduced.

                        (b)     Each Selling Holder may sell all or any part of
that number of shares of Applicable Equity Securities equal to the product
obtained by multiplying (i) the aggregate number of shares of Applicable Equity
Securities covered by the Transfer Notice by (ii) a fraction, the numerator of
which is the number of shares of Applicable Equity Securities owned by the
Selling Holder on the date of the Transfer Notice and the denominator of which
is

<PAGE>

the total number of shares of Applicable Equity Securities owned by the
Transferring Holder and all of the Selling Holders on the date of the Transfer
Notice.

                        (c)     Each Selling Holder shall effect its
participation in the sale by promptly delivering to the Transferring Holder for
transfer to the prospective purchaser one or more certificates, properly
endorsed for transfer, which represent the number of shares of Applicable Equity
Securities which such Selling Holder elects to sell.

                        (d)     The stock certificate or certificates that the
Selling Holder delivers to the Transferring Holder pursuant to Section 4.4(c)
shall be transferred to the prospective purchaser in consummation of the sale of
the Applicable Equity Securities pursuant to the terms and conditions specified
in the Transfer Notice, and the Transferring Holder shall concurrently therewith
remit to such Selling Holder that portion of the sale proceeds to which such
Selling Holder is entitled by reason of its participation in such sale. To the
extent that any prospective purchaser or purchasers prohibits such assignment or
otherwise refuses to purchase shares or other securities from a Selling Holder
exercising its rights of co-sale hereunder, the Transferring Holder shall not
sell to such prospective purchaser or purchasers any Applicable Equity
Securities unless and until, simultaneously with such sale, the Transferring
Holder shall purchase such shares or other securities from such Selling Holder
for the same consideration and on the same terms and conditions as the proposed
transfer described in the Transfer Notice.

                        (e)     No Selling Holder shall be required in
connection with any such transaction to make any representation, warranty or
covenant other than a representation as to its power and authority to effect
such transfer and as to its title to the securities to be transferred by it.

                4.4     Non-Exercise of Rights. To the extent no co-sale rights
have been exercised pursuant to Section 4.4 within the applicable time periods,
the Transferring Holder shall have a period of thirty (30) days from the
expiration of such rights in which to sell such Equity Securities upon terms and
conditions (including the purchase price) no more favorable to the Transferring
Holder than those specified in the Transfer Notice to the third-party
transferee(s) identified in the Transfer Notice. In the event the Transferring
Holder does not consummate the sale or disposition of the Equity Securities
subject to the proposed Transfer within the thirty (30) day period from the
expiration of these rights, co-sale rights set forth herein shall continue to be
applicable to any subsequent disposition of the Equity Securities subject to the
proposed Transfer by the Transferring Holder until such right lapses in
accordance with the terms of this Agreement. Furthermore, the exercise or
non-exercise of the rights of the Company and the Holders under this Section 4.4
to purchase Equity Securities from the Transferring Holder or participate in
sales of Equity Securities by the Transferring Holder shall not adversely affect
their rights to make subsequent purchases from any Transferring Holder of Equity
Securities or subsequently participate in sales of Equity Securities by any
Transferring Holder.

        5.      MISCELLANEOUS.

                5.1     NOTICES. Any notice, request or other communication
required or permitted hereunder shall be in writing and shall be deemed to have
been duly given if delivered personally, by facsimile when receipt is
electronically confirmed, one business day after delivery

<PAGE>

to a nationally recognized courier service that promises overnight delivery, or
otherwise upon receipt, addressed (i) if to Investor, at the address set forth
below Investor's name on Exhibit A, and (ii) if to the Company, at the address
set forth below:

                                 AVANTAIR, INC.
                                 4311 GENERAL HOWARD DRIVE
                                 CLEARWATER, FLORIDA 33762
                                 FAX: (727)539-7007
                                 ATTN: STEVE SANTO

                                 with a copy to:

                                 DLA PIPER US LLP
                                 1251 AVENUE OF THE AMERICAS
                                 FAX: (212)835-6001
                                 ATTN: DOUGLAS RAPPAPORT

        Any party hereto may, by ten (10) days' prior notice so given, change
its address for future notices hereunder.

                5.2     SUCCESSORS AND ASSIGNS. Each Investor agrees that it may
not assign any of its rights or obligations hereunder unless such rights and
obligations are assigned by such Investor to (i) an individual or entity to
which Registrable Securities are transferred by such Investor pursuant to
Section 0 and (ii) with respect to the right of first offer set forth in Section
3, to another Investor or an Affiliate of the Investor, and, in each case, such
assignee shall be deemed an "Investor" for purposes of this Agreement, PROVIDED
that such assignment shall be contingent upon the assignee providing a written
instrument to the Company notifying the Company of such assignment and agreeing
in writing to be bound by the terms of this Agreement. Except as otherwise
provided herein, the provisions of this Agreement shall inure to the benefit of,
and shall be binding upon, the successors and permitted assigns of the parties
hereto.

                5.3     AMENDMENTS AND WAIVERS. Any provision of this Agreement
may be amended and the observance thereof may be waived, either generally or in
a particular instance and either retroactively or prospectively, only with the
written consent of the Company and the holders of a majority of the Registrable
Securities; PROVIDED, HOWEVER, that this Agreement may not be amended and the
observance of any term hereof may not be waived with respect to any Investor
without the written consent of such Investor unless such amendment or waiver
applies to all Investors in the same fashion (it being agreed that a waiver of
the provisions of Section 3 with respect to a particular transaction shall be
deemed to apply to all Investors in the same fashion if such waiver does so by
its terms, notwithstanding the fact that certain Investors may nonetheless, by
agreement with the Company, purchase securities in such transaction). The
Company shall give prompt notice of any amendment hereof or waiver hereunder to
any party hereto that did not consent in writing to such amendment or waiver.
Any amendment or waiver effected in accordance with this Section 5.3 shall be
binding upon each Investor, each permitted successor or assignee of such
Investor and the Company.

<PAGE>

                5.4     ENTIRE AGREEMENT. This Agreement, together with all the
exhibits hereto, constitutes and contains the entire agreement and understanding
of the parties with respect to the subject matter hereof and supersedes any and
all prior negotiations, correspondence, agreements, understandings, duties or
obligations between the parties with respect to the subject matter hereof.

                5.5     GOVERNING LAW. This Agreement shall be governed by and
construed exclusively in accordance with the internal laws of the State of New
York as applied to agreements among New York residents entered into and to be
performed entirely within New York.

                5.6     SEVERABILITY. If any provision of this Agreement is held
to be unenforceable under applicable law, then such provision shall be excluded
from this Agreement and the balance of this Agreement shall be interpreted as if
such provision were so excluded and shall be enforceable in accordance with its
terms.

                5.7     DELAYS OR OMISSIONS. No delay or omission to exercise
any right, power or remedy accruing to any party under Agreement upon any breach
or default of any other party under this Agreement shall impair any such right,
power or remedy of the nonbreaching or nondefaulting party, nor shall it be
construed to be a waiver of any such breach or default, or an acquiescence
therein, or of or in any similar breach or default theretofore or thereafter
occurring, nor shall any waiver of any single breach or default be deemed a
waiver of any other breach or default therefore or thereafter occurring. All
remedies, either under this Agreement or by law or otherwise afforded to any
Holder, shall be cumulative and not alternative.

                5.8     CAPTIONS. The captions to sections of this Agreement
have been inserted for identification and reference purposes only and shall not
be used to construe or interpret this Agreement.

                5.9     COUNTERPARTS. This Agreement may be executed in
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

                5.10    COSTS AND ATTORNEYS' FEES. In the event that any action,
suit or other proceeding is instituted concerning or arising out of this
Agreement or any transaction contemplated hereunder, the prevailing party shall
recover all of such party's costs and attorneys' fees incurred in each such
action, suit or other proceeding, including any and all appeals or petitions
therefrom.

                5.11    ADJUSTMENTS FOR RECAPITALIZATION EVENTS. Wherever in
this Agreement there is a reference to a specific number of shares of Common
Stock of the Company or a specific dollar amount per share, then, upon the
occurrence of any stock split, stock dividend, reverse stock split or similar
recapitalization event affecting such shares, the specific number of shares or
dollar amount so referenced in this Agreement shall automatically be
proportionally adjusted to reflect the effect on the outstanding shares of such
class or series of stock of such recapitalization event.

<PAGE>

                5.12    AGGREGATION OF STOCK. All shares held or acquired by
Affiliates shall be aggregated together for the purpose of determining the
availability of any rights under this Agreement.

<PAGE>

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

                                           COMPANY:

                                           AVANTAIR, INC.

                                           By: /s/ John Waters
                                               ---------------------------------
                                               John Waters
                                               Chief Financial Officer

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           BRMR, LLC
                                           -------------------------------------
                                           (Print Name of Entity)
---------------------------------
(Signature)

Name:                                      By:/s/ Barry Rubenstein
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name: Barry Rubenstein
                                                 -------------------------------

                                           Title: Chief Executive Officer
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

BRMR, LLC                                                179,856

68 Wheatley Road

Brookville, NY 11545

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           Berdan Holdings, LLC
                                           -------------------------------------
                                           (Print Name of Entity)
---------------------------------
(Signature)

Name:                                      By:/s/ Daniel Rosenthal
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name: Daniel Rosenthal
                                                 -------------------------------

                                           Title: Member
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Berdan Holdings, LLC                                     110,000

501 Spectrum Circle

Oxnard, CA 93030

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           Dalewood Associates, LP
                                           -------------------------------------
                                           (Print Name of Entity)
---------------------------------
(Signature)

Name:                                      By:/s/ Steven Levine
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name: Steven Levine
                                                 -------------------------------

                                           Title: Managing Director
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Dalewood Associates, LP                                  321,655

275 Madison Avenue

New York, NY 10016

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           -------------------------------------
/s/ Craig Effron                           (Print Name of Entity)
---------------------------------
(Signature)

Name: Craig Effron                         By:
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name:
                                                 -------------------------------

                                           Title:
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Craig Effron                                             89,928

C/O Scoggin Capital

660 Madison Avenue

New York, NY 10021

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           Gracie Capital, LP
                                           -------------------------------------
                                           (Print Name of Entity)
---------------------------------
(Signature)

Name:                                      By:/s/ Daniel Nir
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name: Daniel Nir
                                                 -------------------------------

                                           Title: Managing Member
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Gracie Capital LP                                        179,856

590 Madison Avenue

28th Floor

New York, NY 10022

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           Hummingbird Microcap Value Fund LP
                                           -------------------------------------
                                           (Print Name of Entity)
---------------------------------
(Signature)

Name:                                      By:/s/ Paul D. Sonkin
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name: Paul D. Sonkin
                                                 -------------------------------

                                           Title: Managing Member
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Hummingbird Microcap Value Fund LP                       179,856

460 Park Avenue - 12th F

New York, NY 10017

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           Hummingbird Value Fund LP
                                           -------------------------------------
                                           (Print Name of Entity)
---------------------------------
(Signature)

Name:                                      By:/s/ Paul D. Sonkin
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name: Paul D. Sonkin
                                                 -------------------------------

                                           Title: Managing Member
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Hummingbird Value Fund LP                                179,856

460 Park Avenue - 12th F

New York, NY 10017

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           Hummingbird Concentrated Fund, LP
                                           -------------------------------------
                                           (Print Name of Entity)
---------------------------------
(Signature)

Name:                                      By:/s/ Paul D. Sonkin
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name: Paul D. Sonkin
                                                 -------------------------------

                                           Title: Managing Member
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Hummingbird Concentrated Fund, LP                       359,713

460 Park Avenue - 12th F

New York, NY 10017

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           Potomac Capital Partners, LP
                                           -------------------------------------
                                           (Print Name of Entity)
---------------------------------
(Signature)

Name:                                      By:/s/ Kenneth Berkow
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name: Kenneth Berkow
                                                 -------------------------------

                                           Title: Chief Financial Officer
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Potomac Capital Partners LP                              274,382

C/O Potomac Capital Management

825 Third Avenue, 33rd Floor

New York, NY 10022

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           Potomac Capital International Ltd.
                                           -------------------------------------
                                           (Print Name of Entity)
---------------------------------
(Signature)

Name:                                      By:/s/ Kenneth Berkow
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name: Kenneth Berkow
                                                 -------------------------------

                                           Title: Chief Financial Officer
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Potomac Capital International Ltd.                       178,551

C/O Potomac Capital Management

825 Third Avenue, 33rd Floor

New York, NY 10022

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           Pleiades Investment Partners-R, LP
                                           -------------------------------------
                                           (Print Name of Entity)
---------------------------------
(Signature)

Name:                                      By:/s/ Kenneth Berkow
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name: Kenneth Berkow
                                                 -------------------------------

                                           Title: Chief Financial Officer
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Pleiades Investment Partners-R, LP                       194,549

C/O Potomac Capital Management

825 Third Avenue, 33rd Floor

New York, NY 10022

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           -------------------------------------
/s/ Andrew Rosen                           (Print Name of Entity)
---------------------------------
(Signature)

Name: Andrew Rosen                         By:
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name:
                                                 -------------------------------

                                           Title:
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Andrew Rosen                                              89,928

C/O Theory

1114 Avenue of Americas

40th Floor

New York, NY 10036

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           Seneca Capital, LP
                                           -------------------------------------
                                           (Print Name of Entity)
---------------------------------
(Signature)

Name:                                      By:/s/ Michael R. Anastasio
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name:  Michael R. Anastasio
                                                 -------------------------------

                                           Title: Chief Financial Officer
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Seneca Capital, LP                                       179,856

590 Madison Avenue

New York, NY 10022

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           -------------------------------------
/s/ Steven Santo                           (Print Name of Entity)
---------------------------------
(Signature)

Name: Steven Santo                         By:
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name:
                                                 -------------------------------

                                           Title:
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Steven Santo                                             178,738

C/O Avantair, Inc.

4311 General Howard Drive

Clearwater, Florida  33762

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           -------------------------------------
/s/ Jeff Kirby                             (Print Name of Entity)
---------------------------------
(Signature)

Name: Jeff Kirby                           By:
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name:
                                                 -------------------------------

                                           Title:
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Jeff Kirby                                               178,738

C/O Avantair, Inc.

4311 General Howard Drive

Clearwater, Florida  33762

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           -------------------------------------
/s/ John Waters                            (Print Name of Entity)
---------------------------------
(Signature)

Name: John Waters                          By:
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name:
                                                 -------------------------------

                                           Title:
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

John Waters                                              178,738

C/O Avantair, Inc.

4311 General Howard Drive

Clearwater, Florida  33762

<PAGE>

                     COUNTERPART SIGNATURE PAGE TO AVANTAIR
                 AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

INDIVIDUAL INVESTOR:                       ENTITY INVESTOR:

                                           -------------------------------------
/s/ Kevin McKamey                          (Print Name of Entity)
---------------------------------
(Signature)

Name: Kevin McKamey                        By:
     ----------------------------             ----------------------------------
                                                        (Signature)

                                           Name:
                                                 -------------------------------

                                           Title:
                                                  ------------------------------

                                    EXHIBIT A

                                    INVESTORS

                                            No. of Shares of Series A Common
      Name and Address Investor                     Stock Purchased
--------------------------------------   ---------------------------------------

Kevin McKamey                                            178,738

C/O Avantair, Inc.

4311 General Howard Drive

Clearwater, Florida  33762EX-10.2

                                 LOAN AGREEMENT

        This LOAN AGREEMENT ("Agreement"), is entered into as of October 2,
2006, by and among AVANTAIR, INC. ("Avantair"), a Nevada corporation, CNM, INC
("CNM"), a Nevada corporation and ARDENT ACQUISITION CORP, a Delaware
corporation, ("Ardent").

                                 R E C I T A L S
                                 ---------------

A.      Avantair and CNM entered into that certain Secured Revolving Line of
        Credit Note dated March 22, 2005 ("Original Note"), Revolving Credit
        Agreement dated May 31, 2005 ("Revolving Credit Agreement"), General
        Security Agreement dated July 30, 2003 and Amended and Restated Security
        Agreement dated June 20, 2005 (collectively "Original Security
        Agreement") whereby CNM agreed to loan and advance certain monies to
        Avantair upon terms and conditions as set forth in the Revolving Credit
        Agreement for a total amount of FORTY MILLION DOLLARS ($40,000,000.00).

B.      Under the terms of the Revolving Credit Agreement, Avantair was
        permitted to withdraw monies only upon certain conditions and
        requirements and the consent of CNM as set forth in the Revolving Credit
        Agreement.

C.      Avantair is in need of funds in an amount equal to the balance of funds
        under the Revolving Credit Agreement in the amount of SEVEN MILLION SIX
        HUNDRED THOUSAND DOLLARS ($7,600,000.00), in order to acquire and pay
        outstanding balances owed to Piaggio America with respect to its
        purchase of two (2) Piaggio America aircraft in the amount of FOUR
        MILLION EIGHT HUNDRED NINETY THOUSAND AND TWO HUNDRED THIRTY SEVEN
        DOLLARS ($4,890,237.00) each, for a total of NINE MILLION SEVEN HUNDRED
        EIGHTY THOUSAND FOUR HUNDRED SEVENTY FOUR DOLLARS ($9,780,474.00).

D.      The remaining available credit under the Revolving Credit Agreement is
        SEVEN MILLION SIX HUNDRED THOUSAND DOLLARS ($7,600,000.00), however, the
        Note has matured and Avantair cannot meet certain conditions and
        requirements of the Revolving Credit Agreement to draw down any
        additional funds, but CNM is agreeable to providing a new secured loan
        to Avantair on certain new terms and conditions.

        NOW, THEREFORE, in consideration of the mutual covenants, promises and
agreements contained herein and for other good and valuable consideration, and
based upon the terms and conditions as set forth in this Agreement, the parties
hereto, intending to be legally bound hereby, agree as follows:

        1.      LOAN  AMOUNT.  Avantair  and  CNM  agree  that,  subject  to the
remaining

                                 LOAN AGREEMENT
                                     PAGE 1
<PAGE>

terms  and  conditions  of this  Agreement,  that CNM  shall  loan to
Avantair the sum of SEVEN MILLION SIX HUNDRED THOUSAND  DOLLARS  ($7,600,000.00)
("Loan") on or before 11:59 p.m.  Pacific  Daylight  Time,  October 2, 2006,
payable as provided hereafter.

        2.      CONDITIONS.  The  parties  hereto  agree  that the Loan shall be
permitted,  funded and occur only upon the following  conditions first being met
by Avantair and verified by CNM by the Closing Date as defined below:

                a.      Avantair  and  Ardent  shall  enter  into and  execute a
                        Definitive  Stock Purchase  Agreement  ("Stock  Purchase
                        Agreement")  and  provide  proof  of same to CNM and CNM
                        must  approve the Stock  Purchase  Agreement in its sole
                        and  absolute  discretion,  on  or  before  11:59  p.m.,
                        Pacific  Daylight  Time  October 2,  2006  ("Closing
                        Date");

                b.      Avantair  shall  obtain,  close  and fund on its  Equity
                        Financing  with respect to the equity of Avantair in the
                        amount of SEVEN  MILLION FIVE HUNDRED  THOUSAND  DOLLARS
                        ($7,500,000.00)  ("Equity  Amount") and provide proof of
                        same to CNM on or before the Closing Date;

                c.      Avantair  shall first  deliver and provide proof of same
                        to CNM on or before the  Closing  Date,  to Wells  Fargo
                        Bank in Reno, Nevada,  attention Janet Mello, the Equity
                        Amount to be held in trust in a  designated  Wells Fargo
                        Bank  escrow  account  (`Escrow  Account").  The  Equity
                        Amount  shall be  administered  and  disbursed  by Janet
                        Mellow of Wells Fargo Bank  pursuant  to  specific  wire
                        instructions of Avantair  received and approved prior to
                        the  Closing  Date by CNM in  writing.  Pursuant to said
                        wire  instructions  The sum of TWO  MILLION  ONE HUNDRED
                        EIGHTY  THOUSAND  FOUR  HUNDRED AND SEVENTY FOUR DOLLARS
                        ($2,180,474.00)  of the Equity Amount shall be wired, by
                        Janet Mellow from the Escrow Account directly to Piaggio
                        America to be applied to the outstanding  balance of the
                        amounts  due  and  owing  for  the  purchase  of two (2)
                        Piaggio America  aircraft,  with serial numbers 1109 and
                        1111 ("Aircraft").  In addition, from said Equity Amount
                        in the Escrow  Account,  Avantair  shall  authorize  and
                        direct Janet Mellow and Wells Fargo Bank pursuant to the
                        approved wire  instructions  to wire to CNM's account at
                        Wells  Fargo  Bank  Reno,  Nevada  such  amounts  as are
                        necessary  to pay for all  legal  fees and  costs of CNM
                        incurred in connection with the negotiation, preparation
                        of the documentation and execution of the Loan.

                d.      The Loan shall be secured by all of  Avantair's  assets,
                        including

                                 LOAN AGREEMENT
                                     PAGE 2
<PAGE>

                        those identified in the Original  Security  Agreement to
                        the  satisfaction  of CNM  ("Collateral").  Prior to the
                        Closing Date  Avantair  shall execute and deliver to CNM
                        any and all documents, including new Security Agreements
                        and UCC Financing  Statements and filings,  necessary to
                        perfect  or  secure  CNM's  Loan  and  the   Collateral,
                        including  that  property as  identified in the Original
                        Security Agreement  ("Security  Agreement") and Avantair
                        shall also have  executed and  delivered to CNM prior to
                        the Closing  Date the  original of a Secured  Promissory
                        Note for the Loan ("Promissory Note").

                e.      Only upon  satisfaction  of the  conditions  in Sections
                        2(a)-(d)  and  receipt by CNM of proper  title  transfer
                        documentation  and  evidence  of amounts  owing  Piaggio
                        America, will the Loan proceeds be disbursed and paid by
                        CNM  directly to Piaggio  America for the balance of the
                        purchase  price of the Aircraft.  If all  conditions are
                        not met to the  satisfaction  of CNM,  in its  sole  and
                        absolute discretion, then this Agreement shall terminate
                        and CNM shall have no further  obligation  or  liability
                        with respect to this Agreement and the Loan.

        3.      APPLICATION AND PAYMENT OF LOAN AMOUNT. Should all conditions as
set forth in  Paragraph 2 be  satisfied,  and proof of same  provided to CNM and
confirmed  by Janet  Mellow at Wells Fargo  Bank,  then CNM shall  direct  Janet
Mellow of Wells Fargo Bank to wire the sum of SEVEN MILLION SIX HUNDRED THOUSAND
DOLLARS  ($7,600,000.00)  from CNM's  Wells  Fargo Bank  Account,  Reno,  Nevada
immediately  to Piaggio  America for the purchase and payment of the balance due
and owing on the Aircraft,  pursuant to wire instructions prepared and submitted
by CNM to Avantair and Wells Fargo Bank prior to the Closing Date.

        4.      REMAINDER  OF EQUITY  AMOUNT.  Avantair,  after first paying the
amounts as set forth above in Section 2 (c) for the  purchase  of the  Aircraft,
shall be  permitted  to direct  Janet  Mellow  Wells Fargo Bank to transfer  the
balance of the Equity Amount to Avantair's  Trade Account at Wells Fargo Bank to
apply to and repay  existing  and  outstanding  corporate  payables and debts of
Avantair to only those creditors and in those amounts as set forth in Schedule 1
attached hereto and incorporated herein.

        5.      AFFIRMATION OF REVOLVING CREDIT  AGREEMENT.  Avantair  expressly
affirms the validity and  enforceability  of its debts and obligations under the
Revolving Credit Agreement, Original Note and Original Security Agreement.

        6.      LOAN TERMS.  The Loan shall be evidenced  by a Promissory  Note,

                                 LOAN AGREEMENT
                                     PAGE 3
<PAGE>

Security Agreement and UCC Financing Statement,  executed by Avantair.  The Loan
shall be secured  by all assets of  Avantair  and shall give  priority  over all
other  creditors to the fullest  extent  permitted by law. The Loan shall accrue
interest at the rate of Fifteen Percent (15%) per annum on the unpaid  principal
amount  until paid in full,  with the entire  principal  balance  amount and any
accrued  interest thereon being due and payable in full on May 31, 2007 or seven
(7) days after the closing of  Avantair's  merger with Ardent,  as defined under
the Stock Purchase Agreement, whichever is the earlier to occur.

        7.      REPAYMENT  OBLIGATIONS.  The parties agree that within Seven (7)
days  following  the closing of the  transactions  contemplated  under the Stock
Purchase  Agreement,  Avantair,  or its  successor  Ardent,  shall pay to CNM an
amount  sufficient  to first pay the Loan in full and to then reduce the balance
due and owing under the Original  Note and  Revolving  Credit  Agreement and all
other debts and  obligations  of Avantair  otherwise  previously  loaned  and/or
guaranteed by CNM and/or its officers, directors,  shareholders,  affiliates and
subsidiaries,  and  specifically  including all such  obligations for letters of
credit,   equipment  and  the  Revolving  Credit  Agreement  more   particularly
identified in Schedule 2 attached hereto and incorporated herein to no more than
a combined total of TEN MILLION DOLLARS ($10,000,000.00),  and in no event shall
the total payment amount be less than FIFTEEN MILLION DOLLARS  ($15,000,000.00).
At that time, and so long as neither Avantair or Ardent is in default under this
Agreement  the  Revolving  Credit  Agreement  shall be amended to convert into a
secured term loan to be repaid to CNM in twelve equal quarterly  installments of
principal  and  interest,  with the first  payment  due  ninety  (90) days after
completion of the transactions  contemplated  under the Stock Purchase Agreement
and all remaining  terms and conditions of the Original Note,  Revolving  Credit
Agreement and Original Security  Agreement shall otherwise remain. The principal
balance  under the term loan shall  accrue  interest  at the rate of Ten Percent
(10%) per annum.

        8.      USE OF AIRCRAFT.  The parties  hereto  agree that as  additional
consideration to CNM, CNM and its Officers,  Directors and Shareholders shall be
entitled to the use without  charge,  upon their  request,  of a Piaggio  Avanti
Aircraft  for a total  amount of 100 hours  flight time over a three year period
commencing from the date hereof.

        9.      TRADING  RESTRICTIONS.  CNM  and  its  Officers,  Directors  and
Shareholders  agree  not to trade in any of  Ardent's  common  stock  until  the
earlier of (i) the announcement by Ardent of the execution of the Stock Purchase
Agreement and this Agreement or (ii) the termination of discussions between CNM,
Avantair and/or Ardent regarding the transactions contemplated by this Agreement
and/or the Stock  Purchase  Agreement  and the failure of the parties to execute
said documents.

        10.     AVANTAIR  REPRESENTATIONS AND WARRANTIES.  Avantiar acknowledges
and agrees  that the  execution  of this  Agreement  by CNM is made in

                                 LOAN AGREEMENT
                                     PAGE 4
<PAGE>

material  reliance  by CNM on each  and  every  one of the  representations  and
warranties  made by Avantair  in this  Agreement,  the  Security  Agreement  and
Promissory Note. Avantair hereby further represents and warrants to CNM that:

                a.      GENERAL.  Avantair  acknowledges and agrees CNM has made
no representation  or warranty to Avantair  concerning the Loan, this Agreement,
the Promissory Note and Security  Agreement,  except as expressly stated in this
Agreement.

                (b)     ORGANIZATION.  Avantair has been duly  organized  and is
validly existing as a Nevada  corporation,  in good standing and fully qualified
to do business in the State of Nevada.

                (c)     AUTHORITY.  Avantair has the right,  power and authority
to enter into this Agreement and to perform its obligations  hereunder,  and the
person(s)  executing this Agreement on behalf of Avantiar have the right,  power
and authority to do so. This Agreement  constitutes the legal, valid and binding
obligation  of Avantair  enforceable  against  Avantair in  accordance  with its
terms,  except to the extent that such  enforcement may be limited by applicable
bankruptcy,  insolvency, moratorium and other principles relating to or limiting
the rights of contracting parties generally. This Agreement does not violate any
provision of any other  agreement or document to which Avantair is a party or to
which Avantair is bound.

                (d)     NO ATTACHMENTS. There are no attachments, executions, or
assignments   for  the  benefit  of  creditors,   or  voluntary  or  involuntary
proceedings in bankruptcy or under any other  debtor-relief  laws pending or, to
the best of Avantair's knowledge, threatened against Avantair.

                (e)     NO CONFLICT WITH,  VIOLATION OF OR DEFAULT UNDER LAWS OR
OTHER  Agreements.  Neither the  execution and delivery of this  Agreement,  the
Promissory  Note,  the  Security  Agreement  or any other  document,  agreement,
certificate or instrument to which  Avantair,  as  applicable,  is a party or by
which it is bound in  connection  with the  Loan,  nor the  consummation  of the
transactions  contemplated  hereunder or thereunder,  or the compliance  with or
performance  of the terms and  conditions  herein or therein,  is prevented  by,
limited by, conflicts in any material respect with, or will result in a material
breach or violation of, or a material  default (with due notice or lapse of time
or  both)  under,  or the  creation  or  imposition  of  any  lien,  charge,  or
encumbrance of any nature whatsoever upon any of their respective  properties or
assets.

                (f)     INFORMATION  AND  FINANCIAL  DATA  ACCURATE;   FINANCIAL
STATEMENTS;  NO ADVERSE  CHANGE.  All  information  and financial and other data
including the Stock Purchase Agreement,  previously furnished by Avantair to CNM
is true,  correct  and  complete as of the date  thereof,  and there has been no
material adverse change with

                                 LOAN AGREEMENT
                                     PAGE 5
<PAGE>

respect  thereto  to the date of this  Agreement  since  the dates  thereof.  No
information  has  been  omitted  which  would  make the  information  previously
furnished in such statements and documents to CNM misleading or incorrect in any
material respect to the date of this Agreement.

                (g)     ARDENT DUE DILIGENCE. Ardent has not received nor relied
upon any representation or statement of CNM in connection with entering into the
Stock Purchase Agreement.

        11.     TOLLING OF LITIGATION.  Upon all conditions being met under this
Agreement and so long as Avantair is not in default under this  Agreement or the
Promissory Note and Security  Agreement  between  Avantair and CNM, of even date
herewith,  CNM shall agree to stay its pending  litigation against Avantair with
respect to its  default  under the  Revolving  Credit  Agreement  pursuant  to a
Tolling  Agreement  acceptable to CNM in its sole and absolute  discretion,  and
upon all  payments  being made as provided in Section 7 above and the Loan being
converted  to a secured term loan as provided in Section 7, CNM shall agree to a
dismissal, without prejudice of such litigation.

        12.     NOTICES.  Any notices permitted or required under this Agreement
shall be in writing and deemed  given upon the date of  personal  delivery or 48
hours after deposit in the United States mail,  postage  fully  prepaid,  return
receipt requested, addressed to Debtor at:

        Avantair, Inc.
        Attn:  Steve Santo
        1037 First Street
        New Windsor, NY  12553

addressed to the Secured Party at:

        CNM, INC.
        9295 Prototype Drive
        Reno, Nevada 89511

or at any other address as any party may, from time to time, designate by notice
given in compliance with this section.

        13.     GOVERNING LAW. This Agreement  shall be governed and interpreted
pursuant to the laws of the State of Nevada. Jurisdiction and venue with respect
to any dispute or action to interpret or enforce this Agreement shall be brought
in the State or Federal Courts of Nevada located in Washoe County, Nevada.

        14.     ATTORNEYS FEES. In the event of any legal action to interpret or

                                 LOAN AGREEMENT
                                     PAGE 6
<PAGE>

enforce  provisions of this Agreement,  the prevailing  party in any such action
shall be awarded its  reasonable  attorneys  fees and costs of court incurred in
connection therewith.

        15.     NO PARTNERSHIP. Neither the provisions of this Agreement nor the
relationship  of the  parties  hereunder,  shall  be  construed  to  create  any
partnership,  joint venture or other legal entity between the parties hereto and
the parties  shall not have the right or authority to enter into any  agreements
on behalf of the other party without the prior  written  consent of the party to
be charged.

        16.     ASSIGNMENT.  CNM may  assign its  rights,  title,  interest  and
obligations  under this  Agreement  upon notice to all other  parties.  Avantair
shall not be permitted to assign their rights under this Agreement,  without the
prior written consent of CNM.

        17.     SEVERABILITY.   If  any  portion  of  this  Agreement  is  found
unenforceable,  invalid or illegal,  the  remaining  portions of this  Agreement
shall  remain  in full  force and  effect  and shall not be a basis to void this
entire Agreement.

        18.     REASONABLE  APPROVAL.  If any  approval is  required  under this
Agreement,  any such approval or consent shall not be  unreasonably  withheld or
delayed.

        19      TIME.  Time is of the  essence.  Each party  shall  perform  its
obligations hereunder in a prompt and timely manner.

        20.     ENTIRE   AGREEMENT.   This   Agreement   supercedes   all  other
agreements,  whether  oral or written,  between the parties  with respect to the
subject matter hereof.  This Agreement shall not be modified by any party unless
such modification is in writing signed by all parties hereto.

        21.     WAIVER. No consent or waiver, expressed or implied, by any party
hereto,  to or of any breach or default by any other party in the performance by
such other party of its obligations hereunder shall be deemed or construed to be
a consent or waiver to or of any other breach or default in the  performance  by
such  other  party of the same or any  other  obligations  of such  other  party
hereunder.  Failure on the part of a party to  complain of any act or failure to
act with the other party or to declare the other party in default,  irrespective
of how such failure  continues,  shall not  constitute a waiver by said party of
its rights hereunder. The giving of consent by a party in any one instance shall
not limit or waive the necessity to obtain such consent in any future instance.

        22.     SUCCESSORS.   Subject  to  the  conditions  set  forth  in  this
Agreement,  this Agreement shall inure to the benefit of and be binding upon the
parties hereto and their respective heirs, legal representatives, successors and
assigns.

                                 LOAN AGREEMENT
                                     PAGE 7
<PAGE>

        23.     COUNTERPARTS.  This  Agreement  may be executed in  counterparts
each of which shall be deemed an original but all of which shall  together shall
constitute one and the same document.

        The parties hereto have executed this Agreement in Washoe County,
Nevada, as of the day first above written.

AVANTAIR, INC.                                   CNM, INC.

By: /s/ John Waters                              By: /s/ Charles M. Mathewson
   ----------------                                 -------------------------
   Its: Chief Financial Officer                     Charles M. Mathewson
                                                    Its: President

ACCEPTED AND AGREED SOLELY AS
TO SECTIONS 7* AND 10(G)

ARDENT ACQUISITION CORP.

By: /s/ Barry J. Gordon
   ---------------------
   Its: Chairman

*This is conditioned upon the consummation
of the transactions contemplated in the
Stock Purchase Agreement (as defined in
Section 2(a) herein).

                                 LOAN AGREEMENT
                                     PAGE 8

<PAGE>

                                   SCHEDULES

                            [Intentionally Omitted]

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