Document:

AIR METHODS CORPORATION
                   AND CERTAIN OF ITS SUBSIDIARIES NAMED BELOW
                                 7301 S. Peoria
                            Englewood, Colorado 80112

                                                                October 16, 2002

Prudential  Capital  Partners,  L.P.  (together  with  its
successors  and  assigns,  "PCP")
Prudential  Capital  Partners  Management  Fund,  L.P.
(together  with  its  successors  and  assigns,  "PCPMF")
c/o  Prudential  Capital  Group
Four  Embarcadero  Center,  Suite  2700
San  Francisco,  CA  94111-4180

Ladies  and  Gentlemen:

     Each  of  the  undersigned, Air Methods Corporation, a Delaware corporation
("AIR  METHODS"),  Mercy  Air Service, Inc., a California corporation ("MERCY"),
ARCH  Air  Medical  Service,  Inc.,  a  Missouri corporation ("ARCH"), and Rocky
Mountain  Holdings,  L.L.C.,  a  Delaware  limited liability company ("RMH", and
together  with  Air  Methods,  Mercy and ARCH, on a joint and several basis, the
"CO-OBLIGORS"),  hereby  jointly and severally agrees with the Purchasers as set
forth  below.

     1.      RMH  ACQUISITION  AND  AUTHORIZATION  OF  FINANCING.

     1A.     RMH  ACQUISITION.  Air  Methods,  RMH and the holders of the equity
interests  of  RMH  (the  "SELLERS")  have  entered into that certain Membership
Interest  Purchase  Agreement,  dated  as  of  June  6,  2002 as the same may be
amended,  restated,  supplemented or modified from time to time, the "MEMBERSHIP
PURCHASE  AGREEMENT"),  pursuant  to  which, subject to the terms and conditions
thereof,  Air  Methods  shall  purchase  from the Sellers 100% of the membership
interests  of  RMH  (the  "RMH ACQUISITION").  Certain capitalized terms used in
this  Agreement  are  defined  in  paragraph  11; references to a paragraph are,
unless  otherwise  specified,  to  one  of  the paragraphs of this Agreement and
references to an "Exhibit" or "Schedule" are, unless otherwise specified, to one
of  the  exhibits  or  schedules  attached  to  this  Agreement.

                                       1.
<PAGE>
     1B.     AUTHORIZATION OF ISSUE OF NOTES.  In order to (i) finance a portion
of  the  consideration  to  be  paid  by  Air Methods pursuant to the Membership
Purchase Agreement and (ii) to provide funds for general corporate purposes, the
Co-Obligors  have  authorized  the issue of their senior subordinated notes (the
"NOTES")  in the aggregate principal amount of $23,000,000, to be dated the date
of  issue  thereof, to mature October 16, 2007, to bear interest, payable in the
manner  specified  in  the  Notes,  on  the unpaid balance thereof from the date
thereof  until  the principal thereof shall have become due and payable (whether
by acceleration or otherwise) at the rate of 12.00% per annum and, following the
occurrence  and  during  the  continuance  of  an  Event  of Default at the rate
specified therein, and to be substantially in the form of Exhibit A hereto.  The
                                                          ---------
terms  "NOTE"  and  "NOTES"  as  used  herein  shall include each Note delivered
pursuant  to  any  provision  of  this  Agreement  and  each  Note  delivered in
substitution  or  exchange  for  any  such  Note pursuant to any such provision.

     1C.     AUTHORIZATION OF ISSUE OF WARRANTS.  Air Methods has authorized the
issue  of  Common  Stock  Purchase  Warrants  to be substantially in the form of
Exhibit  E-1  (the  "WARRANTS")  providing  for  the purchase of an aggregate of
------------
443,224  shares  of  Air  Methods'  common stock, $0.06 par value per share (the
"COMMON STOCK"), at an initial exercise price of $0.06 per share.

     The  Notes, the Warrants and the Common Stock issuable upon exercise of the
Warrants  (the  "WARRANT SHARES") are referred to in this Agreement collectively
as  the  "SECURITIES."

     2.      PURCHASE  AND  SALE  OF  SECURITIES.

     2A.     PURCHASE  AND SALE OF NOTES.  Each of the Co-Obligors hereby agrees
to  sell  to  the  Purchasers and, subject to the terms and conditions set forth
herein  and  in  the  other  Transaction  Documents,  and  in  reliance upon the
representations,  warranties and covenants set forth herein and therein, each of
the  Purchasers  agrees to purchase from the Co-Obligors the aggregate principal
amount of Notes set forth opposite its name on the Information Schedule attached
as  Exhibit  B  hereto.  The  Co-Obligors  will deliver to each Purchaser at the
    ----------
offices  of  Cooley  Godward LLP, One Maritime Plaza, 20th Floor, San Francisco,
California,  one  or more Notes registered in its name, evidencing the aggregate

                                       2.
<PAGE>
principal  amount  of  Notes  to  be  purchased  by  such  Purchaser  and in the
denomination  or  denominations  specified  in the Information Schedule, against
payment of the purchase price thereof by transfer of immediately available funds
as  set forth on Exhibit C hereto to, or at the direction of, the Co-Obligors on
                 ---------
the  date  of  closing,  which  shall  be  October 16, 2002 (the "CLOSING DAY").

     2B.     DELIVERY  OF  WARRANTS.  Subject  to  the  terms and conditions set
forth  herein  and  in the other Transaction Documents, and in reliance upon the
representations,  warranties  and covenants set forth herein and therein, on the
Closing  Day  Air Methods shall deliver to each Purchaser a Warrant as specified
in  the  Information  Schedule.

     2C.     ORIGINAL ISSUE DISCOUNT.  The Co-Obligors and the Purchasers hereby
acknowledge and agree that:  (i) the aggregate fair market value of the Warrants
on  their  date  of  issuance  is  $2,190,332.12; and (ii) $2,190,332.12 will be
allocable  to  the  Warrants  pursuant  to Treas. Reg. Sec.1.1273-2(h), with the
balance  of  the  purchase  price  of  the  Notes  allocable  to the Notes.  The
foregoing agreement shall be applicable for all United States federal, state and
local  tax  purposes  of  the  Co-Obligors  and  the  Purchasers.

     3.     CONDITIONS  PRECEDENT.  The obligation of each Purchaser to purchase
the  Notes  and  the  Warrants  is subject to the satisfaction, on or before the
Closing  Day,  of  the  following  conditions:

     3A.     OPINIONS OF CO-OBLIGORS' SPECIAL COUNSEL; RELIANCE LETTERS.  On the
Closing  Day,  each  of  the  Purchasers shall have received from Davis Graham &
Stubbs, LLP, special counsel to the Co-Obligors, an opinion satisfactory to such
Purchaser  and  substantially  in the form of Exhibit D hereto.  The Co-Obligors
                                              ---------
hereby  direct  such  counsel  named  in  the  previous  sentence to deliver the
opinions  referenced  therein,  and agree that the issuance of the Notes and the
Warrants  will  constitute  a  reconfirmation of such direction.  On the Closing
Day,  each  of  the Purchasers shall also have received from Reed Smith, special
counsel  to  RMH,  a  reliance letter to the effect that such Purchaser may rely
upon  the  legal  opinion  rendered by such counsel to Air Methods in connection
with  the  RMH  Acquisition.

     3B.     OPINION  OF  PURCHASERS'  SPECIAL  COUNSEL.  Each of the Purchasers
shall  have received from Cooley Godward LLP, which is acting as special counsel
for  the Purchasers in connection with this transaction, an opinion satisfactory
to such Purchaser as to such matters incident to the matters herein contemplated
as  it  may  reasonably  request.

                                       3.
<PAGE>
     3C.     REPRESENTATIONS  AND  WARRANTIES;  NO DEFAULT.  The representations
and  warranties  contained in paragraph 9 and in the other Transaction Documents
shall  be  true on and as of the Closing, both before and after giving effect to
the  consummation  of the transactions contemplated hereby and by the Membership
Purchase  Agreement;  there  shall  exist  on  such  day  no Default or Event of
Default,  both  before  and  after  giving  effect  to  the  consummation of the
transactions  contemplated  hereby and by the Membership Purchase Agreement; and
each  of  the  Co-Obligors  shall  have delivered to each Purchaser an Officer's
Certificate,  dated  the  Closing  Day,  to  both  such  effects.

     3D.     STRUCTURING  FEE.  The  Co-Obligors  shall  have paid to Prudential
Capital Group, L.P., PCP's general partner, the $112,500.00 remaining balance of
a  $287,500.00  non-refundable  structuring  fee.

     3E.     PURCHASE  OF SECURITIES PERMITTED BY APPLICABLE LAWS.  The offering
and  sale  of the Securities to be purchased on the Closing Day on the terms and
conditions  herein provided (including the use of the proceeds thereof by any of
the Co-Obligors) shall not violate any applicable law or governmental regulation
(including  federal  and  state  securities laws or Regulations T, U or X of the
Board  of  Governors  of  the  Federal Reserve System) and shall not subject any
Purchaser  to  any  tax,  penalty, liability or other onerous condition under or
pursuant  to  any  applicable law or governmental regulation, and each Purchaser
shall  have  received  such  certificates  or  other  evidence it may request to
establish  compliance  with  this  condition.

     3F.     CONSENTS.  The  Purchasers  shall  have  received  written evidence
satisfactory  to  them  that  all  government, contractual and other third-party
approvals  and consents necessary to the issuance and purchase of the Securities
and  the  carrying  on  of  the  businesses of each of the Co-Obligors have been
obtained.

     3G.     PROCEEDINGS.  All  corporate  and  other proceedings taken or to be
taken  in connection with the transactions contemplated in connection hereby and
all  documents  incident  hereto  shall be satisfactory in substance and form to
each  Purchaser,  and  each  Purchaser  shall have received all such counterpart
originals  or  certified  or other copies of such documents as it may reasonably
request.

                                       4.
<PAGE>
     3H.     OTHER  DOCUMENTS.  Each  of  the Purchasers shall have received the
following  documents,  each  duly executed and delivered by the party or parties
thereto, in form and substance satisfactory to such Purchaser, and in full force
and  effect  as  of  the  Closing  with  no event having occurred and being then
continuing  that  would constitute a default thereunder or constitute or provide
the  basis  for  the  termination  thereof:

               (i)  the  Note(s)  and  the  Warrants;

               (ii)  the  Stockholders'  Agreement, dated as of the date hereof,
between  Air Methods, on the one hand, and the Purchasers, as the holders of the
Warrants  and  the Warrant Shares, on the other hand, in the form of Exhibit E-2
                                                                     -----------
hereto  (as the same from time to time may be amended, restated, supplemented or
otherwise  modified,  the  "STOCKHOLDERS'  AGREEMENT");

               (iii)  certified  copies  of  the  resolutions  of  the  board of
directors  of  each of the Co-Obligors authorizing the execution and delivery of
the  Transaction Documents to which such Person is a party, and of all documents
evidencing  other necessary corporate action and governmental approvals, if any,
with  respect to this Agreement or the other Transaction Documents to which such
Person  is  a  party  and  the  transactions  contemplated  hereby  and thereby;

               (iv)  a  certificate  of  the secretary or an assistant secretary
and  one  other officer of each of the Co-Obligors certifying the names and true
signatures  of  the  officers  of such Person authorized to sign the Transaction
Documents  to  which  such  Person  is  a  party  and  the other documents to be
delivered  hereunder  to  which  such  Person  is  a  party;

               (v)  certified  copies  of  the  certificate  or  articles  of
incorporation  or  organization  and  bylaws  or  operating agreement or similar
organizational  documents  of  each  Co-Obligor;

               (vi)  a  good  standing certificate (including a tax certificate,
if  available)  for  each  of the Co-Obligors from the Secretary of State of the
state  of  incorporation  or  formation  of  each  such  Person  and  from  each
jurisdiction  in which such Person is qualified to do business, each dated as of
a  recent  date,  and  such  other evidence of the status of each such Person as
Purchasers  may  reasonably  request;  and

                                       5.
<PAGE>
               (vii)  copies  of  reports  listing  all  effective  financing
statements  which  name  any  Co-Obligor  (under its present name and names used
within  the  previous  five  years)  as  debtor.

     3I.     FINANCIAL  STATEMENTS.  Each  of the Purchasers shall have received
(i)  audited  consolidated  financial  statements of Air Methods and RMH for the
fiscal  years  ended  December  31, 1998, 1999, 2000 and 2001 and (ii) a balance
sheet  of  Air  Methods  and  its Subsidiaries as of August 31, 2002, giving pro
forma  effect  to  the consummation of the RMH Acquisition and the incurrence of
the  Indebtedness  under  the  Notes  and  under  the  Senior  Credit  Facility.

     3J.     SOLVENCY CERTIFICATE.  Each of the Purchasers shall have received a
certificate  executed by the chief executive officer and chief financial officer
for  each  of  the  Co-Obligors,  as  to  the  solvency of such Co-Obligor, on a
pro-forma  basis,  both  before  and  immediately  after  giving  effect  to the
consummation  of  the  RMH Acquisition and the transactions contemplated by this
Agreement,  the  other Transaction Documents and the Senior Credit Documents, in
form  and  substance  satisfactory  to  such  Purchaser.

     3K.     RMH  ACQUISITION.  Each  of  the Purchasers shall have received all
documents  and  materials  relating  to  the RMH Acquisition which it shall have
requested,  and  such  documents  shall be in form and substance satisfactory to
such  Purchaser  and  its  counsel.  All  documents,  instruments  and  opinions
required  to be delivered to Air Methods under the Membership Purchase Agreement
and  required  to  be  satisfactory to Air Methods under the Membership Purchase
Agreement  shall  also  be satisfactory in form and substance to each Purchaser.
Each  party  to the Membership Purchase Agreement shall have fully performed all
the obligations of such party required on its part to be performed at such time.
Without  limiting  the  foregoing,  each  Purchaser  shall  have  received:

          (i)  a  copy  of  the  fully  executed  Membership Purchase Agreement,
together  with  all  exhibits  and  schedules  thereto,  and, except as has been
consented  to  by  each  Purchaser  in  writing, no term or condition thereof or
obligation thereunder shall have been amended, restated, supplemented, otherwise
modified,  waived  or  consented  to;  and

          (ii)  evidence  that  all  consents, approvals, orders, authorizations
and  registrations from third parties and  governmental authorities, required to
be  obtained  under or in order to consummate the RMH Acquisition (including the

                                       6.
<PAGE>
filing  of  a  pre-merger  report, if any, under the Hart-Scott-Rodino Antitrust
Improvements  Act  of  1976,  as  amended)  have  been obtained other than those
disclosed,  and  acceptable,  to  the  Purchasers.

     3L.     CLOSING UNDER SENIOR CREDIT AGREEMENT.  The Senior Credit Agreement
and  the  other  Senior Credit Documents shall have been executed and delivered,
shall  contain  terms  and  conditions satisfactory to each Purchaser (including
aggregate commitments of the Senior Credit Facility in the amount of $35,000,000
and  the closing with respect to the Senior Credit Agreement shall have occurred
concurrent  with  or  prior  to  the  Closing,  with no more than $18,000,000 of
revolving  loans  having  been  funded  at  such closing under the Senior Credit
Facility.

     3M.     PAYMENT  OF  LEGAL  FEES  AND  EXPENSES.  Without  limiting  the
provisions  of  paragraph  12B, the Co-Obligors shall have paid on or before the
Closing  the  fees,  charges  and  disbursements  of Purchasers' special counsel
referred  to  in  paragraph  3B  to  the extent reflected in a statement of such
counsel  rendered  to  the  Co-Obligors  at  least one Business Day prior to the
Closing.

     3N.     NO  MATERIAL  ADVERSE CHANGE.  Since the fiscal year of Air Methods
ending  on  December  31, 2001, nothing shall have occurred or become known that
has  had  or could reasonably be expected to result in a material adverse change
in  the business, condition (financial or otherwise), operations or prospects of
the Co-Obligors (other than RMH) taken as a whole.  Since the fiscal year of RMH
ending  on  December  31, 2001, nothing shall have occurred or become known that
has  had  or could reasonably be expected to result in a material adverse change
in  the business, condition (financial or otherwise), operations or prospects of
RMH.

     3O.     INSURANCE  CERTIFICATE.  Each of the Purchasers shall have received
evidence  of  insurance of the Co-Obligors reasonably satisfactory to Purchasers
(including  aviation general liability insurance in an aggregate amount not less
than  $25,000,000,  medical  malpractice  insurance, general liability insurance
(exclusive  of  aviation  general  liability  insurance)  and  aviation  product
liability  insurance).

     3P.     PAY-OFF  LETTERS; ELIMINATION OF COVENANTS.  Each of the Purchasers
shall  have  received  a  copy of a letter:  (A) addressed to RMH from PNC Bank,
National  Association,  in  form and content satisfactory to such Purchaser, (i)
stating  the  amount  necessary  to pay in full all obligations under all of the

                                       7.
<PAGE>
existing  credit  facilities  provided to RMH by PNC Bank, National Association,
its  Affiliates or assignees, (ii) providing that, upon receipt of proper funds,
all commitments in respect of such credit facilities shall be terminated and all
Liens  and guarantees securing or supporting the obligations thereunder shall be
automatically released and (iii) providing wiring instructions; (B) addressed to
RMH  from  Bank  of  America,  N.A.,  in  form  and content satisfactory to such
Purchaser, (i) stating the amount necessary to pay in full all obligations under
all  of the existing credit facilities provided to RMH by Bank of America, N.A.,
its  Affiliates or assignees, (ii) providing that, upon receipt of proper funds,
all commitments in respect of such credit facilities shall be terminated and all
Liens  and guarantees securing or supporting the obligations thereunder shall be
automatically released and (iii) providing wiring instructions; (C) addressed to
ARCH  from  FirStar  Bank,  N.A.,  in  form  and  content  satisfactory  to such
Purchaser, (i) stating the amount necessary to pay in full all obligations under
all  of  the  existing credit facilities provided to ARCH by FirStar Bank, N.A.,
its  Affiliates or assignees, (ii) providing that, upon receipt of proper funds,
all  commitments  in respect of such loan facilities shall be terminated and all
Liens  and guarantees securing or supporting the obligations thereunder shall be
automatically released and (iii) providing wiring instructions; and (D) evidence
that  the existing revolving credit facility of Air Methods has been terminated.
Notwithstanding the foregoing, the conditions precedent set forth in clauses (B)
and  (C)  of  this  paragraph  3P  will be satisfied if each holder has received
evidence  satisfactory  to  it that all covenants set forth in the documentation
relating  to  each  such  credit  facility  have  been  terminated.

     3Q.     QUALIFICATION  OF  WARRANT  SHARES.  The  Warrant Shares shall have
been  approved  for  listing  and  trading  on  the  NASDAQ  National  Market.

     4.     PREPAYMENTS  OF  NOTES.  The  Notes  shall  be subject to prepayment
under  the  circumstances  set  forth  in  paragraph  4A  and  7B(1)(iii).

4A.     OPTIONAL  PREPAYMENT.

     4A(1).     OPTIONAL PREPAYMENT -- QUALIFIED FPO.  At any time and from time
to  time,  concurrent  with  the closing of a Qualified FPO, the Co-Obligors may
prepay  up  to 25% of the aggregate principal amount of the Notes outstanding on
the  Closing  Day,  in  multiples  of $1,000,000 of the principal amount prepaid
(except as may be necessary to reflect any principal amount not evenly divisible

                                       8.
<PAGE>
by  $1,000,000)  or,  if  less,  the  aggregate  principal amount outstanding in
respect  of the Notes, with the proceeds from such Qualified FPO, at 100% of the
principal  amount  so  prepaid,  plus accrued and unpaid interest thereon to the
prepayment  date.  Except as provided in the immediately preceding sentence, the
Co-Obligors  may  not  prepay  the  Notes  at  any  time  prior to July 1, 2004.

     4A(2).     OPTIONAL  PREPAYMENT.  At  any  time and from time to time on or
after  July  1, 2004, the Co-Obligors may prepay the Notes, in whole or in part,
in  multiples  of  $1,000,000  of  the principal amount prepaid or, if less, the
aggregate  principal amount outstanding in respect of the Notes, as set forth in
this  paragraph  4A(2).  Any  such  prepayment  shall  be  made at the following
prepayment prices (expressed in percentages of principal amount), subject to the
Co-Obligors'  right  to make prepayments under paragraph 4A(1) at the prepayment
price  provided  therein,  plus  accrued  and  unpaid  interest  thereon  to the
prepayment  date,  with  respect  to  each  such  Note:

     Period  During  Which
     ---------------------
     Prepayment  Occurs                         Prepayment  Price
     ------------------                         -----------------
     7/1/2004  through  9/30/2005               106.00%
     10/1/2005  through  9/30/2006              103.00%
     10/1/2006  through  10/4/2007              100.00%

Notwithstanding the foregoing, concurrent with the closing of a Liquidity Event,
the  Notes  held  by any Purchaser may be prepaid, in whole, but not in part, at
100% of the principal amount so prepaid plus accrued and unpaid interest thereon
to  the  prepayment  date  if the "cash on cash" return to such Purchaser on the
Note(s),  the  Warrants  and  the  Warrant Shares, taking into consideration all
amounts  received  in  respect  of  the  Notes,  including  interest  (and  fees
hereunder),  proceeds  received on any prior partial sale of the Warrants and/or
the  Warrant  Shares and the consideration in respect of the Warrants and/or the
Warrant  Shares  on  the  Liquidity  Event,  would  be  equal to or greater than
2.00:1.00.

     4B.     NOTICE  OF  OPTIONAL  PREPAYMENT.  Air  Methods,  on  behalf of the
Co-Obligors,  shall  give  the holder of each Note irrevocable written notice of
any  optional  prepayment  pursuant  to  paragraph  4A(1),  paragraph  4A(2)  or
paragraph  7B(1)(iii)  not  fewer  than  10  days  prior to the prepayment date,
specifying  (i) such prepayment date, (ii) the aggregate principal amount of the
Notes  to  be  prepaid on such date, (iii) the aggregate principal amount of the
Notes  of  each  holder  to  be prepaid on that date and (iv) that such optional
prepayment  is  to  be  made  pursuant  to  paragraph  4A(1), paragraph 4A(2) or

                                       9.
<PAGE>
paragraph  7B(1)(iii),  as  applicable,  and  if  pursuant  to  paragraph 4A(1),
describing  in reasonable detail the Qualified FPO, and if pursuant to paragraph
4A(2),  describing  in reasonable detail the Liquidity Event, if any.  Notice of
optional  prepayment  having  been given as aforesaid, the prepayment price with
respect  to  the  principal  amount of the Notes to be so prepaid, together with
interest  thereon  to  the  prepayment  date,  and  the prepayment consideration
payable  pursuant  to  paragraph  4A(2), if any, shall become due and payable on
such  prepayment  date.

     4C.     PARTIAL  PAYMENTS  PRO  RATA.  Upon  any  partial prepayment of the
Notes  pursuant  to  paragraph  4A(1)  or 4A(2), the principal amount so prepaid
shall  be  allocated  to  all Notes at the time outstanding in proportion to the
respective  outstanding  principal  amounts  thereof.

     4D.     RETIREMENT  OF  NOTES.  The  Co-Obligors  shall  not, and shall not
permit any of their Subsidiaries or Affiliates to, prepay or otherwise retire in
whole  or in part prior to their stated final maturity (other than by prepayment
pursuant  to  paragraphs  4A  or  7B(1)(iii)  or upon acceleration of such final
maturity  pursuant  to paragraph 8A), or purchase or otherwise acquire, directly
or indirectly, Notes held by any holder unless the Co-Obligor or such Subsidiary
or  Affiliate  shall  have  offered to prepay or otherwise retire or purchase or
otherwise  acquire,  as  the  case  may be, the same proportion of the aggregate
principal  amount  of  Notes  held  by  each  other  holder of Notes at the time
outstanding  upon the same terms and conditions.  Any Notes prepaid or otherwise
retired  or  purchased  or otherwise acquired by the Co-Obligors or any of their
Subsidiaries or Affiliates shall not be deemed to be outstanding for any purpose
under  this  Agreement.

     5.     SUBORDINATION  OF NOTES.  Anything in this Agreement to the contrary
notwithstanding,  (i)  the  Subordinated Debt shall be subordinate and junior to
all Senior Debt to the extent set forth in paragraphs 5A(1) to 5A(7), inclusive,
below,  (ii)  payments  on the Subordinated Debt required to be made pursuant to
the  terms  of  the  Notes,  the Multiparty Guaranty, paragraph 4 and 13 of this
Agreement  and  under  the  other  provisions  of  the Transaction Documents are
subject to the provisions set forth in paragraphs 5A(1) to 5A(7), inclusive, and
(iii)  any  amendments  to  this  Agreement or the Notes made in accordance with
paragraph  12C  are  subject  to the provisions set forth in paragraph 5F below.

                                      10.
<PAGE>
     5A(1).     INSOLVENCY.  In  the  event  of  any  insolvency,  bankruptcy,
liquidation,  reorganization  or  other similar proceedings, or any receivership
proceedings  in connection therewith, relative to any Co-Obligor (an "INSOLVENCY
PROCEEDING"),  and  in  the  event of any proceedings for voluntary liquidation,
dissolution  or  other  winding  up  of any Co-Obligor, whether or not involving
insolvency  or bankruptcy proceedings, then, subject to the proviso set forth in
paragraph  5A(2), all Senior Debt shall first be paid in full before any payment
of,  or  distribution is made in respect or on account of, the Subordinated Debt
in  any  such  proceeding.

     5A(2).     INSOLVENCY  DISTRIBUTIONS.  In  any  proceeding  described  in
paragraph  5A(1),  above,  any payment or distribution of any kind or character,
whether  in  cash,  property,  stock  or  obligations,  which  may be payable or
deliverable  in  respect  of  the  Subordinated  Debt shall be paid or delivered
directly  to  the  Agent  (or  to a banking institution selected by the court or
Person  making  the  payment  or  delivery  or  designated  by  the  Agent)  for
application in payment of the Senior Debt unless and until all Senior Debt shall
have  been  paid in full; provided, however, that no such delivery shall be made
to  the  Agent  of  stock  or  obligations  which  are  issued in respect of the
Subordinated  Debt  pursuant  to  reorganization  proceedings or, subject to the
agreement  of  the  Agent,  any  readjustment, arrangement, composition or other
consensual  workout,  in  each case if such stock or obligations are subordinate
and junior (whether by law or agreement) at least to the extent provided in this
paragraph  5  to  the  payment  of  all  Senior Debt then outstanding and to the
payment of any stock or obligations which are issued in exchange or substitution
for  any  Senior  Debt  then  outstanding.

     5A(3).     SENIOR  DEBT  PAYMENT  DEFAULT  --  PAYMENT  BLOCKAGE.  If  any
Co-Obligor shall default in the payment of any fees in excess of $1,000 required
under  Sections  3.2  or  3.3 of the Senior Credit Agreement as in effect on the
date  hereof,  or of any principal of or interest or premium or other prepayment
consideration  on any Senior Debt when the same becomes due and payable, whether
at  maturity or at a date fixed for prepayment or by declaration of acceleration
or  otherwise,  then,  until such default shall have been remedied by payment in
full  or  waived,  no  holder of the Notes shall accept or receive any direct or
indirect  payment  of  or  on  account  of  the  Subordinated  Debt.

     5A(4).     SENIOR  DEBT  COVENANT  DEFAULTS  -- PAYMENT BLOCKAGE.  Upon the
occurrence  and  during  the  continuance of any Senior Debt Default (other than
under  circumstances when the terms of paragraph 5A(3) above are applicable), no

                                      11.
<PAGE>
holder of the Notes shall accept or receive any direct or indirect payment of or
on  account  of  any  Subordinated  Debt during the period (a "BLOCKAGE PERIOD")
beginning on the date of receipt by the Note Agent (as defined below), on behalf
of  the  holders  of  Notes,  of  written  notice of such Senior Debt Default (a
"DEFAULT SUBORDINATION NOTICE") from the Agent and ending on the earliest of (i)
the  date  when all Senior Debt Defaults identified in the Default Subordination
Notice  have  been  cured  or  waived in writing, (ii) the date that is 180 days
after  receipt  of  such  Default  Subordination  Notice  and  (iii) the date of
repayment  in  full  of the Senior Debt and the termination of the Senior Credit
Agreement,  provided  that  (a)  there  shall be no more than 4 Blockage Periods
during  the  term  of  the  Notes,  (b) during any 365-day period, the aggregate
number  of days for which Blockage Periods may be in effect shall not exceed 180
days  and (c) no facts or circumstances known to the Agent constituting a Senior
Debt  Default  existing on the date of any such Default Subordination Notice may
be  used  as a basis for any subsequent Default Subordination Notice unless such
Senior  Debt Default shall in the interim have been cured or waived for a period
of  not less than 90 consecutive days.  For the purposes of the preceding clause
(c),  the  Agent  shall be deemed not to have knowledge of a Senior Debt Default
occurring  as  a  result  of a breach of any financial covenant under the Senior
Credit  Agreement  until  the earlier of (i) the receipt by the Agent of written
notification from management of Air Methods that there has been a breach of such
financial  covenant  and  (ii)  5 Business Days after the Agent has received the
financial  statements  necessary  to  determine  compliance  with such financial
covenant.  The  provisions of this paragraph 5A(4) shall not prevent any payment
on  or  in  respect  of the Subordinated Debt which would (in the absence of any
such Senior Debt Default) have been payable on any date during a Blockage Period
from  being paid following the termination of such Blockage Period.  For purpose
of  this paragraph 5A(4), "NOTE AGENT" shall mean PCP for so long as PCP and its
Affiliates  hold  at least 50.1% of the aggregate principal amount of Notes from
time to time outstanding, and at all other times such term shall mean the holder
of  the  greatest  aggregate  principal  amount  of  Notes  from  time  to  time
outstanding  of  whom  Agent  has  knowledge.

     5A(5).     STANDSTILL.  The  holders  of  the Notes, to the extent they are
otherwise  entitled  to  do so, will not accelerate the maturity of the Notes or
pursue  any  other remedy to enforce payment thereof or initiate, or join in the
initiation  of,  any Insolvency Proceeding relative to any Co-Obligor during the
period (the "STANDSTILL PERIOD") commencing at the initial time when the holders

                                      12.
<PAGE>
of  the  Notes  are  not  permitted to receive payments on the Subordinated Debt
pursuant to either paragraph 5A(3) or 5A(4) and continuing until the earliest of
(i)  the  date  when  all  Senior  Debt  Defaults giving rise to the blockage of
payments  on  the  Notes pursuant to paragraph 5A(3) or 5A(4) have been cured or
waived in writing, (ii) the date of the repayment in full of the Senior Debt and
the  termination of the Senior Credit Agreement, (iii) the date that is 135 days
after  a  Senior  Debt payment default, (iv) the end of the Blockage Period that
caused  the  initiation of such Standstill Period, (v) the date on which (a) any
Senior  Debt  shall  have  been  declared  due  and  payable prior to its stated
maturity  or  any  holder  of  Senior Debt or the Agent commences proceedings to
collect any Senior Debt or (b) any holder of Senior Debt (or its representative)
commences  the  realization  (whether through proceedings or self-help) upon any
material part of the collateral for any Senior Debt and (vi) the date upon which
any  Insolvency Proceeding is commenced.  Upon the termination of the Standstill
Period,  the  holders  of the Notes may exercise all rights or remedies they may
have  at  law  or  in  equity.

     5A(6)     TURNOVER.  If  any  payment  or  distribution  of  any character,
whether  in  cash, securities or other property, shall be received by any holder
of Notes in contravention of any of the terms of this paragraph 5 and before all
the Senior Debt shall have been paid in full, such payment or distribution shall
be  received in trust for the Agent for the benefit of the holders of the Senior
Debt  at  the time outstanding and shall forthwith be paid over or delivered and
transferred  to  the  Agent.

     5A(7)     FILING CLAIMS.  Each holder of Notes shall duly and promptly take
such  action  as is reasonably necessary to file appropriate claims or proofs of
claim  in  any  Insolvency  Proceeding  and  to  execute  and deliver such other
instruments  and take such other actions as may be reasonably necessary to prove
or  realize  upon  such  claims  and to have the proceeds of such claims paid as
provided  in  this paragraph 5.  In the event any holder of Notes shall not have
made  any  such  filing on or prior to the date 10 days before the expiration of
the time for such filing or shall not have timely executed or delivered any such
other  instruments and taken such other actions, the Agent is hereby authorized,
as  the agent and attorney-in-fact for such holder of Notes for the specific and
limited  purpose  set  forth in this paragraph, but shall have no obligation, to
file  such  proof of claim for or on behalf of such holder of Notes, execute and
deliver such other instruments for or on behalf of such holder of Notes and take

                                      13.
<PAGE>
such  other  action  necessary  under  applicable law to collect (subject to the
provisions  of paragraph 5A(2)) any amounts due in respect of such claim in such
proceeding.  Anything  contained in this paragraph notwithstanding, the right to
vote  any claim or claims in respect of the Subordinated Debt in connection with
any  Insolvency  Proceeding is exclusively reserved to the holders of the Notes.

     5B.     OBLIGATION  OF  THE  CO-OBLIGORS  UNCONDITIONAL.  The provisions of
this  paragraph  5  are  for  the purpose of defining the relative rights of the
Agent  and  the  holders of Senior Debt, on the one hand, and the holders of the
Notes,  on  the  other  hand,  against  the  Co-Obligors and their property, and
nothing  herein  shall impair, as between the Co-Obligors and the holders of the
Notes,  the  obligation  of  the  Co-Obligors,  which  is joint and several, and
unconditional  and absolute, to pay to the holders thereof the Subordinated Debt
in accordance with the terms and the provisions of this Agreement and the Notes.
Except  as otherwise provided in paragraph 5A(5), nothing contained herein shall
prevent  the  holders  of  the  Notes  from  exercising  all  remedies otherwise
permitted  by  applicable  law  or  under this Agreement upon default under this
Agreement  or under the Notes (including the right to demand payment and sue for
performance  of the Agreement and of the Notes and to accelerate the maturity of
the  Notes  as  provided  in paragraph 8A), subject to the rights, if any, under
this  paragraph  5  of the Agent and the holders of Senior Debt to receive cash,
property,  stock  or  obligations  otherwise  payable  or  deliverable  by  the
Co-Obligors  to  the  holders  of  the  Notes.

     5C.     SUBROGATION.  Upon  payment  in full of the Senior Debt in cash and
the  termination  of the Senior Credit Agreement, the holders of the Notes shall
be  subrogated  to  the  rights  of  the  holders  of the Senior Debt to receive
payments  or  distributions of assets of the Co-Obligors made on the Senior Debt
until the Subordinated Debt shall be paid in full, and, for the purposes of such
subrogation,  no  payments  to  the  holders  of  the  Senior  Debt of any cash,
property,  stock  or  obligations  to  which  the  holders of the Notes would be
entitled  except for the provisions of paragraph 5A above shall, as between each
Co-Obligor,  its  creditors  (other than the holders of the Senior Debt) and the
holders  of  the  Notes,  be  deemed to be a payment by such Co-Obligor to or on
account  of  the  Senior  Debt.

     5D.     RIGHTS OF HOLDERS OF SENIOR DEBT.  The provisions of this paragraph
5  shall  be  deemed  a continuing offer to all holders of Senior Debt to act in
reliance on such provisions (but no such reliance shall be required to be proven

                                      14.
<PAGE>
to  receive  the  benefits  hereof)  and may be enforced by such holders, and no
right  of  any  present  or  future  holder  of  any  Senior  Debt  to  enforce
subordination as provided in this paragraph 5 shall be prejudiced or impaired by
any act or failure to act on the part of any Co-Obligor or by any act or failure
to  act  by any such holder, or by any non-compliance by any Co-Obligor with the
terms,  provisions and covenants of this Agreement or the Notes.  Without in any
way limiting the generality of the foregoing, the holders of Senior Debt may, at
any  time and from time to time, without the consent of or notice to the holders
of  the  Notes, and without impairing or releasing the subordination provided in
this paragraph 5 or the obligations hereunder of the holders of the Notes to the
holders  of  Senior  Debt,  do  any one or more of the following: (i) change the
manner,  place or terms of payment or extend the time of payment of, or renew or
alter,  or  increase  (subject  to  the  proviso at the end of the definition of
"Senior  Debt"  contained in paragraph 11B) or decrease, or waive defaults under
Senior  Debt,  or otherwise amend or supplement in any manner Senior Debt or any
instrument  evidencing  the  same  or  any  agreement under which Senior Debt is
outstanding,  provided  that no amendment or supplement shall have the effect of
increasing  the  Applicable  Margin (as defined in the Senior Credit Agreement),
exclusive of any increase solely by virtue of any imposition of the Default Rate
(as  defined  in the Senior Credit Agreement), by more than 300 basis points per
annum  in  excess  of  that  in  effect on the date hereof; (ii) sell, exchange,
release  or  otherwise  deal with any property pledged or mortgaged to secure or
otherwise  securing  Senior  Debt; (iii) release any Person liable in any manner
for  the payment or collection of Senior Debt; and (iv) exercise or refrain from
exercising any rights against any Co-Obligor and any other Person, including any
guarantor  or  surety.  The  provisions of this paragraph 5 shall continue to be
effective,  or be reinstated as of the date immediately prior to payment in full
of  the  Senior  Debt and the termination of the Senior Credit Agreement, as the
case  may be, if at any time payment, or any part thereof, of any Senior Debt is
rescinded  or  must  otherwise  be restored or returned by the holders of Senior
Debt upon occurrence of an event described in paragraph 5A(1), or otherwise, all
as  though  such  payments  had  not  been  made.

     5E.     RIGHTS  OF HOLDERS OF SENIOR DEBT.  Notwithstanding anything to the
contrary  in  this  paragraph  5,  in  no  event  shall  any Credit Party or any
Affiliate  or  Subsidiary  thereof receive the benefit of this paragraph 5 if at
any  time  it  shall  hold  any  Senior  Debt.

                                      15.
<PAGE>
     5F.     AMENDMENTS.  Notwithstanding  anything  in  this  Agreement  or
otherwise  to  the  contrary,  none  of  the  terms  of  this paragraph 5 or any
definitions  used  herein  directly  relating  to the Senior Debt may be amended
without the express written consent of the Agent, and any amendment without such
prior  written  consent shall be null and void and without effect.  In addition,
without  the  express prior written consent of the Agent, this Agreement and the
Notes will not be amended to:  (i) modify (other than by extension) the schedule
of  principal  payments  in  respect of the Subordinated Debt; (ii) increase the
cash  coupon  of  the  Subordinated  Debt  by  more  than 3.00% per annum; (iii)
increase  (other  than  pursuant  to  a payment-in-kind provision) the principal
amount  outstanding  in  respect  of  the Subordinated Debt; and (iv) modify any
reference  in this Agreement to any provision or paragraph being subject to this
paragraph  5.

     6.     AFFIRMATIVE  COVENANTS.  So  long as any Note remains outstanding or
any  interest,  Yield-Maintenance  Amount,  premium  or  other  prepayment
consideration  or  costs  or  other amount owing in respect thereof shall remain
unpaid:

     6A.     FINANCIAL  STATEMENTS;  FINANCIAL  INFORMATION.  Air  Methods  will
deliver  to  each  holder  of  Notes  in  duplicate:

          (i)  as  soon as practicable and in any event within 30 days after the
end  of  each  month  in  each fiscal year, unaudited Consolidated statements of
income,  owners'  equity  and cash flows of Air Methods and its Subsidiaries for
such  month  and for the period from the beginning of the current fiscal year to
the  end  of such month, and a Consolidated balance sheet of Air Methods and its
Subsidiaries  as  at  the  end  of  such  month,  setting  forth in each case in
comparative  form  figures for the corresponding period or balance sheet date in
the  preceding fiscal year, all in reasonable detail and satisfactory in form to
the Required Holders and certified by the chief financial officer of Air Methods
to  the  effect  that  (a)  such  financial  statements  (including  any related
schedules  and/or  notes) are true and correct in all material respects (subject
to  changes  resulting  from  audits  and  normal  year-end  adjustments  that
individually  and  in  the  aggregate  are  not  material to the business of Air
Methods  and  its  Subsidiaries)  and have been prepared in accordance with GAAP
consistently  followed  throughout  the  periods  involved, (b) the Consolidated
balance  sheets fairly present the condition of Air Methods and its Subsidiaries
as  at the dates thereof, and (c) the Consolidated statements of income, owners'
equity  and  cash  flows  fairly  present  the  results of the operations of Air
Methods  and  its  Subsidiaries  for  the  periods  indicated;

                                      16.
<PAGE>
          (ii)  as soon as practicable and in any event within 45 days after the
end  of  each  fiscal  quarter  in  each  fiscal  year,  unaudited  Consolidated
statements  of  income,  owners'  equity  and  cash flows of Air Methods and its
Subsidiaries  (together  with such statements on an operating segment basis) for
such  fiscal quarter and for the period from the beginning of the current fiscal
year  to the end of such fiscal quarter, and a Consolidated balance sheet of Air
Methods  and  its  Subsidiaries  (together  with such statements on an operating
segment  basis) as at the end of such fiscal quarter, setting forth in each case
in comparative form figures for the corresponding period in the preceding fiscal
year,  all in reasonable detail and satisfactory in form to the Required Holders
and  certified  by the chief financial officer of Air Methods to the effect that
(a) such financial statements (including any related schedules and/or notes) are
true  and  correct  in  all material respects (subject to changes resulting from
audits  and  normal  year-end adjustments that individually and in the aggregate
are  not  material to the business of Air Methods and its Subsidiaries) and have
been  prepared  in  accordance  with  GAAP  consistently followed throughout the
periods  involved,  (b)  the  Consolidated  balance  sheets  fairly  present the
condition  of  Air Methods and its Subsidiaries as at the dates thereof, and (c)
the  Consolidated  statements  of  income,  owners' equity and cash flows fairly
present  the  results  of the operations of Air Methods and its Subsidiaries for
the  periods  indicated;

          (iii) as soon as practicable and in any event within 90 days after the
end  of  each  fiscal  year,  Consolidated  statements of income, cash flows and
owners'  equity  of  Air  Methods  and  its  Subsidiaries  (together  with  such
statements  on  an  operating  segment  basis) for such year, and a Consolidated
balance sheet of Air Methods and its Subsidiaries (together with such statements
on  an  operating  segment  basis), as at the end of such year, setting forth in
each  case  in  comparative form figures from the preceding annual audit, all in
reasonable  detail and satisfactory in form to the Required Holders and prepared
in  accordance  with  GAAP consistently followed throughout the periods involved
and  accompanied  by  an  opinion  thereon  of  independent  certified  public
accountants  of recognized national standing, which opinion shall (a) state that
such  Consolidated financial statements present fairly the financial position of
the companies being reported upon and their results of operations and cash flows
and  have been prepared in conformity with GAAP consistently followed throughout

                                      17.
<PAGE>
the periods involved, (b) that the examination of such accountants in connection
with  such  financial  statements  has  been  made  in accordance with generally
accepted auditing standards, and that such audit provides a reasonable basis for
such  opinion,  and  (c)  be without limitation as to the scope of the audit and
without  qualification  and  satisfactory  in  substance  to  the  Purchasers;

          (iv) as soon as practicable, and in any event within 60 days after the
end of the fiscal quarter for RMH and its Subsidiaries ended September 30, 2002,
the  unaudited Consolidated statements of income, members' equity and cash flows
of  RMH  and  its  Subsidiaries, and a Consolidated balance sheet of RMH and its
Subsidiaries  as  at  the end of such fiscal quarter, certified by a Responsible
Officer  of  RMH  to  the  effect that, to such Responsible Officer's knowledge,
based  on his review of such financial statements, (a) such financial statements
(including  any  related  schedules  and/or  notes)  are true and correct in all
material  respects (subject to changes resulting from audits and normal year-end
adjustments  that  individually  and  in  the  aggregate are not material to the
business  of  RMH)  and  have been prepared in accordance with GAAP consistently
followed  throughout  the  periods  involved, (b) the Consolidated balance sheet
fairly  presents  the  condition  of  RMH  and  its  Subsidiaries as at the date
thereof,  and (c) the Consolidated statements of income, owners' equity and cash
flows  fairly  present the results of the operations of RMH and its Subsidiaries
for  the  periods  indicated;

          (v)  within  60  days  after  the  Closing Date, the Closing Financial
Statements  (as  defined  in  the  Membership  Purchase  Agreement);

          (vi)  no  later  than  30 days after the beginning of the Co-Obligors'
fiscal  year  2003  and  no  later  than  30  days prior to the beginning of the
Co-Obligors'  fiscal years commencing with fiscal year 2004 and each fiscal year
thereafter, a month by month projected operating budget, statement of income and
cash  flows  of  Air  Methods  and its Subsidiaries, on a Consolidated and on an
operating  segment  basis,  for  such  fiscal  year, accompanied by an Officer's
Certificate  signed  by  a Responsible Officer of Air Methods to the effect that
such  budget has been prepared on the basis of sound financial planning practice
consistent  with past budgets and financial statements and that such officer has
no  reason  to  question the reasonableness of any material assumptions on which
such  budget  was  prepared;

                                      18.
<PAGE>
          (vii)  as  soon  as  practicable and in any event within ten (10) days
after  the  transmission  thereof, (a) copies of all financial statements, proxy
statements,  reports  and notices made available to Air Methods' equity holders,
including  all  registration  statements  (without  exhibits)  and  all  reports
(including  reports on Form 8-K) which Air Methods files with the Securities and
Exchange  Commission  (or  any  governmental  body  or  agency succeeding to the
functions  of  the  Securities  and  Exchange Commission), and (b) copies of all
notices  sent  by  any Co-Obligor or any of its Subsidiaries to the Agent or the
holders  of  the  Senior  Debt,  other than any notices solely pertaining to the
Collateral  (as defined in the Senior Credit Agreement) securing the obligations
of  the  Co-Obligors  under  the  Senior  Loan  Documents;

          (viii)  promptly  upon  receipt  thereof,  a copy of each other report
submitted  to  Air Methods or any of its Subsidiaries by independent accountants
in  connection  with  any  annual,  interim or special audit made by them of the
books  of  such  Person;  and

          (ix)  with  reasonable  promptness, such other financial data or other
information  as  any  holder  of  Notes  may  reasonably  request.

Together  with  each  delivery  of financial statements required by clauses (i),
(ii)  and  (iii)  above,  Air  Methods  will  deliver to each holder of Notes in
duplicate  an  Officer's  Certificate  of  Air  Methods  (a) demonstrating (with
computations  in  reasonable  detail)  compliance  by  the  Co-Obligors with the
provisions  of  paragraphs 7A(1) through 7A(7), (b) stating that there exists no
Event  of  Default  or  Default,  or, if any Event of Default or Default exists,
specifying  the  nature  and  period  of  existence  thereof and what action the
Co-Obligors  propose to take with respect thereto, and (c) upon the request of a
Significant Holder, summarizing all material variances from the budgets provided
to  the  holders  of  Notes  pursuant  to  clause  (iv)  above,  together with a
discussion  and  analysis  by  management  of  Air  Methods with respect to such
variances.

Together  with  each  delivery  of financial statements required by clause (iii)
above, Air Methods will deliver to each holder of Notes in duplicate a statement
of  the accountants certifying that (1) they have reviewed the Agreement and (2)
in making the examination upon which such report was based either no information
came to their attention which to their knowledge constituted an Event of Default
or  a  Default  under  this  Agreement  or  any Transaction Document or, if such

                                      19.
<PAGE>
information  came  to  their  attention, specifying any such Event of Default or
Default,  its  nature,  when  it  occurred  and  whether it is continuing.  Such
accountants,  however,  shall not be liable to anyone by reason of their failure
to  obtain  knowledge  in  the  course  of an audit conducted in accordance with
generally  accepted  auditing  standards.

     6B.     NOTICES;  REPORTS.  The  Co-Obligors  shall:

          (i)  Promptly  upon, and in any event within 5 days of, any officer of
any  Credit  Party  obtaining knowledge thereof, deliver to each holder of Notes
written  notices  executed by a Responsible Officer of such Credit Party of, (a)
any  lapse,  cancellation or other termination of any Authorization issued to or
held  by  any  Co-Obligor  or  any  of  its Subsidiaries that is material to the
operation  of  any  Credit  Party's  business, (b) any Authorization that is not
renewed  or  extended  that  is material to the operations of any Credit Party's
business,  (c)  any  violation  of  any  applicable  law, statute, regulation or
ordinance  of  any  Governmental  Body, including any Environmental Laws and all
applicable  laws,  statutes  and  regulations  related to Medicare and Medicaid,
which  could reasonably be expected to have a Material Adverse Effect, or (d) of
the  institution  of any litigation, suit or administrative proceeding affecting
any  Credit  Party  or  any  of its Subsidiaries (regardless of whether insured)
which  could  reasonably  be  expected  to  have  a  Material  Adverse  Effect;

          (ii)  Deliver copies to each record holder of Notes, promptly (a) upon
the  transmission thereof by any Credit Party, of any periodic, special or other
reports  or statements that are filed with or delivered to any Governmental Body
or  Person  (other  than  any  reports  filed  with  the Securities and Exchange
Commission and provided to the holders of Notes pursuant to paragraph 6A above),
if  (1)  such  reports  or statements discuss, indicate or point to any material
change in the business, operations, affairs or condition of any Credit Party, or
(2)  a  copy  thereof  is  requested  by any holder of a Note, and (b) after the
receipt by any officer of any Co-Obligor thereof, copies of any material notices
or  other  material  communications  from  any Governmental Body or Person which
specifically  relate  to  any  Credit  Party;

          (iii) Promptly upon, and in any event within 5 days of, any officer of
any Credit Party becoming aware of the occurrence of any (a) "reportable event,"
as  such  term  is  defined  in  section  4043  of  ERISA,  or  (b)  "prohibited
transaction"  as such term is defined in section 4975 of the Code, in connection

                                      20.
<PAGE>
with  any  Plan  or  trust  created  thereunder, or in connection with any other
employee  pension benefit plan maintained by any Credit Party within the meaning
of  section 4001(b) of ERISA, or any trust created thereunder, deliver a written
notice  to  each  holder of Notes specifying the nature thereof, what action the
Credit  Parties  have taken, are taking or propose to take with respect thereto,
and,  when known, any action taken or threatened by the Internal Revenue Service
or  the  PBGC  with  respect  thereto;  and

          (iv)  Promptly upon, and in any event within 5 days of, any officer of
any  Credit  Party  obtaining  knowledge thereof, provide written notice to each
holder  of  Notes, specifying the nature thereof and the actions the Co-Obligors
have taken or propose to take with respect thereto, of (a) the occurrence of any
Default  or  Event  of Default, (b) any "Event of Default" under the Senior Loan
Documents,  or any event which, with the passage of time or the giving of notice
or both, would constitute an "Event of Default" under the Senior Loan Documents,
(c)  any  event,  development  or  circumstance  whereby any financial statement
furnished  to  any  holder  of  Notes  fails  in any material respect to present
fairly, in accordance with GAAP consistently applied, the financial condition or
operating results of any Credit Party as of the date of such statements, (d) any
accumulated  retirement  plan  funding  deficiency  which,  if  such  deficiency
continued  for  two plan years and was not corrected as provided in Section 4971
of the Code could subject any Co-Obligor or its Subsidiaries to a tax imposed by
Section  4971  of  the Code, (e) each and every default by any Co-Obligor or its
Subsidiaries  which  might  result  in  the  acceleration of the maturity of any
Indebtedness  in  excess  of  $500,000, including the names and addresses of the
holders  of  such Indebtedness with respect to which there is a default existing
or  with respect to which the maturity has been or could be accelerated, and the
amount  of  such  Indebtedness  and (f) any other development in the business or
affairs  of  any  Credit  Party  which  could  reasonably  be expected to have a
Material  Adverse  Effect.

     6C.     BOOKS  AND  RECORDS.  Each  Co-Obligor  shall,  and shall cause its
Subsidiaries  to, (a) keep proper books of record and account in which complete,
true  and  correct entries are maintained for all dealings or transactions of or
in  connection with its business and affairs, (b) maintain on its books accruals
with respect to all taxes, assessments, charges, levies and claims, and (c) on a
reasonably  current  basis  maintain in its books adequate reserves for doubtful
collections  of  accounts  receivable,  advances  and  investments and all other

                                      21.
<PAGE>
proper  accruals,  including  accruals  for  premiums,  if  any, due on required
payments  and  accruals  for  depreciation,  obsolescence  or  amortization  of
properties,  which  should  be  set  aside  from earnings in connection with its
business.  All  determinations  pursuant  to  this paragraph 6C shall be made in
accordance  with, or as required by, GAAP consistently applied in the opinion of
such  independent  public  accountants as shall then be regularly engaged by the
Co-Obligors.

     6D.     FINANCIAL  DISCLOSURE.  Each  Co-Obligor irrevocably authorizes and
directs,  and  shall cause its Subsidiaries to irrevocably authorize and direct,
all accountants and auditors employed by such Credit Party at any time until the
Notes  and  all  other  obligations  of the Credit Parties hereunder are paid in
full,  to  exhibit  and  deliver  to  each holder of Notes copies of any of such
Credit  Party's financial statements, trial balances or other accounting records
of  any sort in the accountant's or auditor's possession, and to provide to each
holder of Notes any information such accountants may have concerning such Credit
Party's  financial  status and business operations.  Each Co-Obligor authorizes,
and  shall  cause  its  Subsidiaries  to  authorize,  all Governmental Bodies to
furnish  to  each  holder of Notes copies of reports or examinations relating to
it,  whether  made  by  such  Credit Party or otherwise; provided, however, each
holder  of  Notes  will attempt to obtain such information or materials directly
from  such  Credit  Party  prior to obtaining such information or materials from
such  accountants  or  Governmental  Bodies.

     6E.     COMPLIANCE  WITH LAWS.  Each Co-Obligor shall, and shall cause each
of  its  Subsidiaries  to,  comply  with  all  applicable laws, statutes, rules,
regulations,  decrees  and  orders  of  any  Governmental  Body,  including
Environmental  Laws,  the  Fair Labor Standards Act and all applicable laws with
respect to Medicare or Medicaid, except where noncompliance could not reasonably
be  expected  to  have  a  Material  Adverse  Effect.

     6F.     MAINTENANCE  OF  INSURANCE.  Each Co-Obligor shall, and shall cause
each  of  its  Subsidiaries  to,  maintain  with financially sound and reputable
insurers,  insurance in such amounts and against such liabilities and hazards as
(i) is required pursuant to the provisions of the Senior Loan Documents and (ii)
is  customarily  maintained  by  other  companies  operating similar businesses,
including  medical  malpractice insurance, general liability aviation insurance,
and  aviation  product  liability  insurance.  Together  with  each  delivery of

                                      22.
<PAGE>
financial  statements  under  clause (ii) of paragraph 6A, the Co-Obligors will,
upon  the  request  of  any holder of any Note, deliver an Officer's Certificate
specifying  the  details  of  such  insurance  then  in  effect.

     6G.     CONDUCT  OF  BUSINESS;  MAINTENANCE  OF EXISTENCE.  Each Co-Obligor
shall, and shall cause each of its Subsidiaries to, (i) conduct continuously and
operate  actively its business according to good business practices and maintain
and keep, or cause to be maintained and kept, its properties useful or necessary
to  the  conduct  of  its  business, in good repair, working order and condition
(reasonable  wear  and  tear  excepted  and  except  as  may  be  disposed of in
compliance  with  the terms of this Agreement) (ii) take all action necessary to
enforce,  protect,  defend  and  maintain the validity of all licenses, patents,
copyrights,  design  rights, tradenames, trade secrets and trademarks used in or
necessary  to  its  business  or  operations  where  the  failure to do so could
reasonably  be  expected  to  have a Material Adverse Effect, (iii) maintain its
existence  (except  as  permitted  by  paragraph  7B(1))  and (iv) make all such
reports  and  pay all such franchise and other taxes and license fees and do all
such  other  acts  and  things  as  may  be  lawfully  required  to maintain all
Authorizations  in  full  force  and  effect  where  the  failure to do so could
reasonably  be  expected  to  have  a  Material  Adverse  Effect.

     6H.     INSPECTION  OF  PROPERTY.  Each  Co-Obligor  shall, and shall cause
each  of  its  Subsidiaries  to,  permit any Person designated in writing by any
Significant  Holder,  at such holder's expense if no Default or Event of Default
exists  and  at such Co-Obligor or Subsidiary's expense if a Default or Event of
Default  does  exist,  at  all  reasonable  times,  (i)  to discuss the affairs,
finances  and  accounts  of  any  Co-Obligor  or  Subsidiary  with the principal
officers  of such Person and its independent public accountants and (ii) to have
full  access  to  and  the right to audit, check, inspect and make abstracts and
copies  of  its  books,  records,  audits,  correspondence  and all other papers
relating  to  the  assets  and the operation of its business, and each holder of
Notes  or  such  designee  may  enter  upon  the properties of any Co-Obligor or
Subsidiary,  as  applicable,  at any time during business hours and at any other
reasonable  time,  and  from  time  to  time,  for the purpose of inspecting its
assets,  any  and  all  records  pertaining  thereto or its business operations.

     6I.     PAYMENT  OF TAXES AND CLAIMS.  Each Co-Obligor, or a third party on
behalf  of  a  Co-Obligor, shall cause each of its Subsidiaries to, pay when due
all  taxes,  assessments  and  other  governmental  Charges  lawfully  levied or

                                      23.
<PAGE>
assessed upon it or any of its properties or assets, including real and personal
property  taxes,  assessments  and  charges  and  franchise, income, employment,
social  security, withholding and sales taxes, except for those taxes and claims
subject  to  a  Good  Faith  Contest.

     6J.     PAYMENT OF LEASEHOLD OBLIGATIONS.  Each Co-Obligor shall, and shall
cause each of its Subsidiaries to, at all times pay, when and as due, its rental
obligations under all real property leases under which it is a tenant, and shall
otherwise  comply, in all material respects, with all other terms of such leases
and  keep  them  in full force and effect and, at the request of any Significant
Holder,  will  provide  evidence  of  having  done  so.

     6K.     INFORMATION  REQUIRED BY RULE 144A.  The Co-Obligors will, upon the
request  of  the  holder  of  any  Note,  provide such holder, and any qualified
institutional  buyer  designated  by  such  holder,  such  financial  and  other
information  as such holder may reasonably determine to be necessary in order to
permit  compliance  with  the  information  requirements  of Rule 144A under the
Securities  Act  in connection with the resale of Notes, except at such times as
the  Credit  Parties  are subject to the reporting requirements of section 13 or
15(d)  of  the  Exchange  Act.  For  the  purpose of this paragraph 6K, the term
"qualified  institutional  buyer"  shall have the meaning specified in Rule 144A
under  the  Securities  Act.

     6L.     PAYMENT  OF  INDEBTEDNESS.  Subject to the limitations set forth in
paragraph  7J, each Co-Obligor will, and will cause each of its Subsidiaries to,
pay,  discharge  or  otherwise  satisfy  on or prior to maturity (subject, where
applicable,  to  specified  grace  or  cure  periods  and, with respect to trade
payables,  subject  to  their being satisfied in the ordinary course of business
consistent  with  past  practices)  all  its obligations and liabilities, except
where  the  failure  to  do  so  could not reasonably be expected to result in a
Material  Adverse  Effect, result in a Default, or where the same may be subject
to  a  Good  Faith  Contest.

     6M.     RESERVATION  OF SHARES.  Air Methods shall at all times cause there
to  be  reserved  that number and class of Warrant Shares necessary to give full
effect  to  the  exercise  of  the  Warrants.

     6N.     EXECUTION  OF  MULTIPARTY  GUARANTY  BY  SUBSIDIARIES.  Within  15
Business  Days  (except  as  otherwise  provided in paragraph 7B(1)(iii)) of the
creation  or  acquisition  of  a  Person  that is or becomes a Subsidiary of any

                                      24.
<PAGE>
Credit  Party  (other  than  LifeNet Services, Inc.):  (i) the Co-Obligors shall
cause such Subsidiary to execute and deliver to each holder of Notes an original
counterpart  of the Multiparty Guaranty (in the form of Exhibit F hereto, and as
                                                        ---------
the  same  from time to time may be amended, restated, supplemented or otherwise
modified, the "MULTIPARTY GUARANTY") in accordance with the provisions set forth
therein  and  (ii)  such  Credit  Party  shall  deliver to each holder of Notes,
together  with  such  counterpart,  (a)  certified  copies  of such Subsidiary's
articles  or  certificate  of  incorporation or other charter document, together
with  a good standing certificate from the state of such Subsidiary's formation,
each  dated  as of a recent date prior to such delivery, and such other evidence
of  the status of such Subsidiary as any holder of Notes reasonably may request,
(b)  a  copy  of  such  Subsidiary's by-laws, operating agreement or partnership
agreement, certified by its secretary or general partner, as applicable, as of a
recent  date  prior  to  their  delivery  to  the  holders  of  the Notes, (c) a
certificate executed by the secretary or general partner, as applicable, of such
Subsidiary  as  to  (1)  the  fact that the attached resolutions of the board of
directors  (or  similar  management  body)  of  such  Subsidiary  approving  and
authorizing  the  execution, delivery and performance of the Multiparty Guaranty
are  in  full force and effect and have not been modified or amended and (2) the
names  and  true  signatures  of  the  officers  (or Persons vested with similar
authority)  of  such  Subsidiary  authorized to sign the Multiparty Guaranty and
(iii) the Co-Obligors shall cause the delivery of a favorable opinion of counsel
to  such  Subsidiary, in form and substance satisfactory to Purchasers and their
counsel,  as  to  (w) the due organization and good standing of such Subsidiary,
(x)  the  due  authorization,  execution  and delivery by such Subsidiary of the
Multiparty  Guaranty,  (y) the enforceability of the Multiparty Guaranty against
such  Subsidiary, subject to customary exceptions, and (z) such other matters as
any  of  Purchasers  may  reasonably  request,  all  of  the  foregoing  to  be
satisfactory  to  Purchasers  and  their  counsel.

     6O.     ADDITIONAL  DOCUMENTS.  Each Co-Obligor shall, and shall cause each
of  its  Subsidiaries  to,  execute  and  deliver  to each holder of Notes, upon
request  of the Required Holders, such documents and agreements as such Required
Holders  may,  from  time to time, reasonably request to carry out the purposes,
terms  or  conditions  of  this  Agreement.

     6P.  EXERCISE OF RIGHTS.  Air Methods shall enforce all of its rights under
the  Membership  Purchase  Agreement  and  all  documents executed in connection
therewith  including,  but not limited to, all indemnification rights and pursue
all remedies available to it with diligence and in good faith in connection with
the  enforcement  of  any  such  rights.

                                      25.
<PAGE>
     7.     NEGATIVE  COVENANTS.  So long as any Note remains outstanding or any
interest, Yield-Maintenance Amount, premium or other prepayment consideration or
costs  or  other  amount  owing  in  respect  thereof  shall  remain  unpaid:

     7A.     FINANCIAL  COVENANTS.  The  Co-Obligors  will  not:

          7A(1).  CONSOLIDATED  NET WORTH.  Permit Consolidated Net Worth at any
time  to  be less than the sum of (a) the greater of 75% of the Consolidated Net
Worth  on  the  Closing Date and 75% of the Consolidated Net Worth on August 31,
2002  plus  (b)  on  a cumulative basis, 50% of Consolidated Net Income (only if
positive)  for  each  fiscal  quarter  of Air Methods and its Subsidiaries, on a
Consolidated basis, commencing with the fiscal quarter ended September 30, 2002;

          7A(2).  CONSOLIDATED  FIXED  CHARGE  COVERAGE  RATIO.  Permit  the
Consolidated  Fixed  Charge  Coverage  Ratio  at  the end of each fiscal quarter
during  each  period  set  forth  below  to  be  less than the amounts set forth
opposite  such  periods:

          Period                              Ratio
          ------                              -----
          9/30/02 -  12/31/03                 1.00
          1/1/04  -  12/31/04                 1.20
          1/1/05  -  and  thereafter          1.75;

          7A(3).  CONSOLIDATED  TOTAL  DEBT  TO  EBITDA  RATIO.  Permit  the
Consolidated  Total  Debt  to  Consolidated EBITDA ratio at any time during each
period  set  forth  below to be greater than the amounts set forth opposite such
periods:

          Period                                  Ratio
          ------                                  -----
          9/30/02  -  3/30/04                     4.05
          3/31/04  -  3/30/05                     3.50
          3/31/05  -  3/30/06                     3.25
          3/31/06  and  thereafter                3.00;

          7A(4).  CONSOLIDATED  SENIOR  DEBT  TO  EBITDA  RATIO.  Permit  the
Consolidated  Senior  Debt  to Consolidated EBITDA ratio at any time during each
period  set  forth  below to be greater than the amounts set forth opposite such
periods:

                                      26.
<PAGE>
          Period                              Ratio
          ------                              -----
          9/30/02  -  3/30/04                 3.05
          3/31/04  -  3/30/05                 2.50
          3/31/05  -  3/30/06                 2.25
          3/31/06  and  thereafter            2.00;

          7A(5).  MINIMUM  CONSOLIDATED  EBITDA.  Permit  consolidated EBITDA at
the end of any fiscal quarter during the periods set forth below to be less than
the  following:

          Period                              Minimum  EBITDA
          ------                              ---------------
          9/30/02  -  12/31/03                $26,600,000
          1/1/04  and  thereafter             $29,900,000;

Notwithstanding  anything  to the contrary contained in paragraphs 7A(2) through
7A(5)  (or  in  the  defined  terms  used  therein), Consolidated EBITDA and the
Consolidated  Fixed  Charge  Coverage  Ratio  shall be calculated on a pro forma
basis  as  if the transactions contemplated by the Membership Purchase Agreement
(but  not the Senior Credit Facility or this Agreement) were consummated October
1,  2001;

          7A(6).  INDEBTEDNESS;  UNFINANCED  CAPITAL  EXPENDITURES;  PERSONAL
PROPERTY  LEASES.  Permit  the aggregate (without duplication) of (i) the amount
of Indebtedness (including Aircraft Indebtedness but exclusive of trade debt) of
Air  Methods and its Subsidiaries created, incurred or assumed in any period set
forth below, plus (ii) the net present value of future lease payments in respect
of  operating  leases  of  Air  Methods  and  its  Subsidiaries  for Aircraft or
Equipment  entered  into  or assumed in any period set forth below (based on the
Implicit  Discount  Rate),  plus  (iii)  the  amount  of  Unfinanced  Capital
Expenditures of Air Methods and its Subsidiaries made or committed in any period
set forth below, to exceed the following amounts at any time during such period:

          Period:                              Amount
          ------                               ------
          Closing  Date  -  12/31/03           $33,000,000

          1/1/04  -  12/31/04                  $33,000,000

          1/1/05  -  12/31/05                  $38,500,000

          1/1/06  and  thereafter              $38,500,000;

                                      27.
<PAGE>
provided, however that the following shall be excluded from the calculations set
forth  above:  (i)  Indebtedness  evidenced  by  the  Notes or created under the
Multiparty  Guaranty,  (ii)  the Senior Debt up to the amount of the Senior Debt
Cap,  (iii)  Indebtedness  owing to any Co-Obligor or a Subsidiary thereof, (iv)
refinancing of outstanding Indebtedness, except to the extent that the principal
amount of such Indebtedness owing at the time of the refinancing is increased in
connection with such refinancing, (v) expenditures to purchase previously leased
Aircraft, except to the extent of the excess (if any) of (x) the monthly payment
in  respect  of  the  obligation  incurred in the Aircraft purchase over (y) the
monthly  lease  payments  on  the  terminated  lease,  such excess payment to be
discounted to the present value on the date of purchase (using the interest rate
on  the  acquisition  Indebtedness  as the discount rate), (vi) Indebtedness set
forth  in  Schedule  7A(6),  (vii)  the  incurrence  of  Indebtedness  of  up to
           ---------------
$10,000,000  that  is  secured  by  Aircraft  then  owned by a Co-Obligor if the
proceeds  of  such Indebtedness are used to repay outstanding advances under the
Senior Credit Facility and (viii) Indebtedness assumed or incurred in connection
with  acquisitions  permitted  under  paragraph 7B(1)(iii).  Notwithstanding the
repayment  on  or  prior  to  the  Closing  Day  to (a) Bank of America, N.A. of
Indebtedness  of  $1,605,000  secured by a mortgage on a facility in Provo, Utah
and  (b)  U.S. Bank, N.A., as successor to FirStar Bank, N.A. of Indebtedness of
$976,000  secured by a mortgage on facilities in St. Louis, Missouri and Sparta,
Illinois,  such obligations shall be deemed to be "outstanding Indebtedness" for
purposes  of  clause  (iv)  above.

          7A(7).    CONSOLIDATED RENT EXPENSE.  Enter as a lessee into any lease
arrangement  for real property if, after giving effect thereto, aggregate annual
rental  payments  for  all  leased  real property would exceed $4,400,000 in any
fiscal  year  in  the  aggregate  for  Air  Methods  and  its  Subsidiaries.

     7B.     MERGER,  CONSOLIDATION,  ACQUISITIONS AND TRANSFERS OF ASSETS.  The
Co-Obligors  shall  not,  and  shall  not  permit  their  Subsidiaries  to:

          7B(1).     MERGER,  CONSOLIDATION  OR  ACQUISITIONS.  Merge  or
consolidate  with  or  into any other Person or make an Acquisition, except that

               (i)     any  Subsidiary may merge or consolidate with or into Air
Methods provided that (a) Air Methods is the continuing or surviving corporation
and (b) no Default or Event of Default exists or would exist after giving effect
thereto,  and

                                      28.
<PAGE>
               (ii)     any  Subsidiary  may  merge  or consolidate with or into
another  wholly-owned  Subsidiary  provided  that if the merging Subsidiary is a
Guarantor,  then  the  survivor  Subsidiary  shall  also be a Guarantor or shall
become  a  Guarantor  concurrent  with  or  prior  to  such  merger;  and

               (iii)  any Co-Obligor may acquire all or a substantial portion of
the  assets  of  or  ownership  interest  in  any Person; provided that:  (a) no
Default  or  Event  of  Default exists or would exist after giving effect to the
consummation  of  such  acquisition;  (b)  in the case of the acquisition of any
ownership  interest,  upon  consummation  of  such  acquisition the Person whose
ownership  interest  is  acquired  shall be a Subsidiary and the requirements of
clauses  (i)  through  (iii)  of paragraph 6N shall have been satisfied; (c) the
Person  being acquired shall be engaged in the same business as the Co-Obligors;
and  (d) the fair market value of the consideration paid to the seller(s) of the
assets  or  ownership  interests  acquired  in  all such transactions during any
period  set  forth  below  (the  "AGGREGATE CONSIDERATION") shall not exceed the
Amount  of  Limitation  set  forth  opposite  such  period:

Period                    Dates                    Amount  of  Limitation
------                    -----                    ----------------------
  1             Closing  Day  -  12/31/03          $12,500,000
  2             1/1/04  -  12/31/04                $20,000,000
  3             1/1/05  -  12/31/05                $30,000,000
  4             1/1/06  -  12/31/06                $30,000,000
  5             1/1/07  and  thereafter            $30,000,000;

Notwithstanding  the  foregoing,  if  a  follow-on  public  offering  of  equity
securities  of  Air Methods by a nationally-recognized underwriter pursuant to a
registration  statement  filed  under  the  Securities  Act shall be consummated
during  Period  2  or  Period  3 above, as applicable, then any such acquisition
proposed  to  be consummated during the applicable Period and within 180 days of
the  consummation of such public offering that would satisfy the requirements of
clauses  (a)  through (c) of this paragraph 7B(1)(iii) but that, if consummated,
would  cause the Aggregate Consideration for such Period to exceed the Amount of
Limitation  for such Period shall nonetheless be permitted if, upon consummation
of  such proposed acquisition, the Aggregate Consideration for such Period would
not  exceed an amount equal to the Amount of Limitation for such Period plus 50%
of  the  net  proceeds  received  by Air Methods in such Period from such public
offering.

                                      29.
<PAGE>
If,  during  Period  4  or  Period 5, as applicable, any Co-Obligor proposes any
acquisition  of  all  or  a  substantial  portion  of the assets of or ownership
interest  in any Person that satisfies clauses (a) through (d) of this paragraph
7B(1)(iii) but that, if consummated, would cause the Aggregate Consideration for
such Period to exceed the Amount of Limitation for such Period, then, unless the
Required  Holders  have consented to such proposed acquisition in writing (which
shall be in their sole and absolute discretion), notwithstanding anything to the
contrary  in  this Agreement, the Co-Obligors may prepay the Notes, in whole but
not  in  part,  at  100%  of  the aggregate principal amount then outstanding in
respect of the Notes, plus accrued and unpaid interest thereon to the prepayment
date.

Upon  and  after  the  consummation  of  any  acquisition of ownership interests
permitted  by  paragraph 7B(1)(iii), notwithstanding anything to the contrary in
paragraphs  7A(2)  through  7A(5)  (or  in the defined terms used therein):  (i)
Consolidated  EBITDA  and  the Consolidated Fixed Charge Coverage Ratio shall be
calculated  on  a pro forma basis as if such acquisition were consummated on the
first  day  of the four fiscal quarter period used in the initial calculation of
Consolidated  EBITDA  and  the  Consolidated  Fixed  Charge Coverage Ratio after
consummation  of  such  acquisition;  and  (ii)  for  the period included in any
calculation  of  Consolidated  EBITDA and the Consolidated Fixed Charge Coverage
Ratio  prior  to  the  actual  consummation  of  such  acquisition,  pro  forma
adjustments made in accordance with Regulation S-X promulgated by the Securities
and  Exchange  Commission shall be made for such period to the operating results
of  the  Person  acquired; provided that the aggregate amount of any adjustments
that reduce expense items during such period shall not exceed an amount equal to
(a)  25%  of  the consolidated earnings before interest, taxes, depreciation and
amortization  of  the  Person  acquired  (calculated  on  the  same  basis  as
"Consolidated  EBITDA"  (as  defined  herein))  for the most recent period of 12
months  that  are  covered  by  audited  financial  statements  of  such  Person
multiplied by (b) an appropriate percentage to adjust the value in clause (a) to
the  extent  that  the period included in any calculation of Consolidated EBITDA
and  the  Consolidated  Fixed  Charge  Coverage  Ratio  prior  to  the  actual
consummation  of  such  acquisition  is  less  than  12  months.

          7B(2).     TRANSFERS  OF  ASSETS.  Sell,  exchange,  convey,  lease,
transfer  or  otherwise dispose of any of their respective assets, except that a
Co-Obligor  or its Subsidiaries may (i) sell inventory in the ordinary course of

                                      30.
<PAGE>
its  business,  (ii)  sell  or otherwise dispose of Equipment, provided that the
fair  market  value  of  such  Equipment  sold  or  disposed of shall not exceed
$500,000  in any fiscal year, and provided further that the proceeds of any such
disposition  are  used to acquire replacement Equipment or remitted to the Agent
to  be  applied  as  a  prepayment of the Senior Credit Facility pursuant to the
terms  of  the  Senior  Credit  Agreement, or (iii) sell or otherwise dispose of
Aircraft  provided  that the fair market value of such Aircraft sold or disposed
of  shall  not  exceed  $7,000,000 in any fiscal year (exclusive of any casualty
insurance  proceeds  received).

     7C.     LIENS AND OTHER RESTRICTIONS.  The Co-Obligors shall not, and shall
not  permit  their  Subsidiaries  to:

          7C(1).     CREATION OF LIENS.  Create or suffer to exist any Lien upon
or against any of its property or assets now owned or hereafter acquired, except
for  Permitted  Liens;

          7C(2).     INVESTMENTS  AND LOANS.  Purchase or acquire obligations or
stock  of,  or any other equity interest in, any Person, or make advances, loans
or  extensions  of  credit  to  any  Person,  except

          (i)  investments in (A) obligations issued or guaranteed by the United
States  of  America or any agency thereof having maturities of not more than one
year  from the date of purchase thereof, (B) commercial paper with maturities of
not  more than 180 days from the date of purchase thereof and a published rating
of  not  less  than  P-1 by Moody's Investors Service, Inc. or A-1 by Standard &
Poor's  Corporation, (C) certificates of deposit and bankers' acceptances having
maturities  of  not  more  than  180  days from the date of purchase thereof and
repurchase  agreements  backed  by  United  States  government  securities  or a
commercial  bank if (1) such bank has a combined capital and surplus of at least
$500,000,000,  or  (2)  its  debt  obligations, or those of a holding company of
which  it  is a Subsidiary, are rated not less than A (or the equivalent rating)
by a nationally recognized investment rating agency, (D) U.S. money market funds
that  invest  solely in obligations issued or guaranteed by the United States of
America or an agency thereof, (E) existing loans and other investments set forth
on  Schedule  7C(2),
    --------

          (ii)  to  the  extent  permitted  by  paragraph 7E, stock, partnership
interests,  membership  interests or other equity securities issued by any other
Credit  Party  (or  any  other  Person  at  the  time  of  its  organization if,

                                      31.
<PAGE>
immediately  thereafter,  it  becomes  a wholly-owned Subsidiary) other than Air
Methods,  or  advances,  loans  or extensions of credit to other Credit Parties,

          (iii) extensions of credit in the form of accounts receivable or notes
receivable  arising from the sale of goods or services in the ordinary course of
business, and extensions of credit to customers in connection with the upgrading
of  Aircraft  in  a  manner  consistent  with  past  practice,

          (iv)  investments  permitted  by  paragraph  7B(1)(iii);  and

          7C(3).     SALE  OR  DISCOUNT  OF RECEIVABLES.  Sell with recourse, or
discount or otherwise sell for less than the face value thereof, or subject to a
Lien,  other  than  a  Permitted  Lien, any of its notes or accounts receivable,
except  those  accounts,  the collection of which is reasonably determined to be
doubtful  in  accordance  with  GAAP.

     7D.     DIVIDENDS; REDEMPTIONS.  Air Methods shall not declare, pay or make
any  dividend or distribution on any shares of its capital stock or other equity
interests  (other  than  dividends  or  distributions payable solely in stock or
other  equity  interests,  or  split-ups,  combinations, reverse stock splits or
other reclassifications of stock or other equity interests), or apply any of its
cash  or  cash  equivalents,  property  or assets to the purchase, redemption or
other retirement of any of its capital stock or other equity interests or of any
options  or  warrants to purchase or acquire any such shares of capital stock or
other  equity  interests  of  Air  Methods.  The  net exercise of employee stock
options  by  Air  Methods'  employees  shall  not  be deemed a violation of this
paragraph 7D so long as no funds are expended by Air Methods or its Subsidiaries
in  connection  with  the  exercise  of  such  options.

     7E.     ISSUANCE  OF  STOCK  OR EQUITY SECURITIES BY SUBSIDIARIES.  None of
the  Co-Obligors  shall permit any Subsidiary (either directly, or indirectly by
the  issuance  of  rights  or  options for, or securities convertible into, such
equity  interests)  to  issue,  sell  or  otherwise dispose of any of its equity
interests,  except  to  Air Methods or a wholly-owned Subsidiary of Air Methods.

     7F.     NATURE  OF  BUSINESS;  PURCHASE OF ASSETS.  None of the Co-Obligors
shall, or shall permit any of its Subsidiaries to:  (i) substantially change the
nature  of  the  business  in  which  it  is engaged on the date hereof; or (ii)

                                      32.
<PAGE>
purchase or invest, directly or indirectly, in any assets or property other than
(a)  as expressly permitted hereby and (b) purchases of property in the ordinary
course  of  business  which is useful, necessary or desirable in the business of
such  Co-Obligor  or  Subsidiary  as  presently  conducted  on  the Closing Day.

     7G.     TRANSACTIONS WITH AFFILIATES.  The Co-Obligors shall not, and shall
not  permit  their Subsidiaries to, directly or indirectly, purchase, acquire or
lease  any  property  from,  or  sell,  transfer  or  lease  any property to, or
otherwise  deal  with,  any  Affiliate  (other  than  a  Co-Obligor),  except
transactions  in  the  ordinary  course of business, on an arm's-length basis on
terms  no less favorable to such Co-Obligor or Subsidiary than terms which would
have  been  obtainable  from  a  Person  other  than  an Affiliate (other than a
Co-Obligor),  and  except  for  such transactions described on Schedule 7G which
                                                               -----------
were  not  in  the  ordinary  course  of  business.

     7H.     FISCAL  YEAR  AND ACCOUNTING CHANGES.  Air Methods shall not change
its  fiscal  year from December 31, and the Co-Obligors shall not, and shall not
permit  their  Subsidiaries  to, make any change (i) in accounting treatment and
reporting  practices  except  as  required  by  GAAP,  or  (ii) in tax reporting
treatment  except  as  required  by  law.

     7I.     AMENDMENTS OF CHARTER DOCUMENTS.  None of the Co-Obligors shall, or
shall  permit  any  of  its  Subsidiaries to, amend, modify or waive any term or
provision  of  its  Certificate  or  Articles  of  Incorporation, Certificate or
Articles  of  Formation,  Bylaws,  Operating Agreement, or other similar charter
document, unless required by law if such amendment, modification or waiver would
adversely  affect  the  holders  of  Notes.

     7J.     PREPAYMENT  OF  INDEBTEDNESS.  The Co-Obligors shall not, and shall
not  permit  any  of their Subsidiaries to, at any time, directly or indirectly,
prepay any Indebtedness (other than the Senior Debt in accordance with the terms
of  the Senior Credit Agreement or the Notes in accordance with paragraph 4), or
repurchase,  redeem,  retire  or  otherwise  acquire  any  Indebtedness  of  any
Co-Obligor  or a Subsidiary thereof other than (i) a refinancing of any Aircraft
Indebtedness so long as the principal amount of Indebtedness incurred under such
refinancing  that  exceeds  the  amount  being  refinanced  is  permitted  under
paragraph  7A(6),  and (ii) to prepay Aircraft Indebtedness with the proceeds of
insurance  with  respect  to  any  loss  to  an  Aircraft.

                                      33.
<PAGE>
     7K. MODIFICATIONS OF SENIOR DEBT.  The Co-Obligors shall not, and shall not
permit  any  of their Subsidiaries to, enter into any amendments, modifications,
restatements,  or  supplements  of the Senior Loan Documents that would have the
effect  of  increasing  the  Applicable  Margin (as defined in the Senior Credit
Agreement),  exclusive of any increase solely by virtue of any imposition of the
Default Rate (as defined in the Senior Credit Agreement), by more than 300 basis
points  per  annum  in  excess  of  that  in  effect  on  the  date  hereof.

     7L.  HOSTILE  TENDER  OFFER.  Each  Co-Obligor  covenants  that none of the
proceeds of the Notes will be used to finance directly or indirectly any Hostile
Tender  Offer.

     7M.  LIFENET SERVICES, INC.  RMH shall not permit LifeNet Services, Inc. to
engage  in  any  business  affairs  or  to  acquire  or  own  any  assets.

     7N.  PAYMENTS  TO  AFFILIATES.  The  Co-Obligors  shall  not, and shall not
permit  any  Subsidiary  to,  make  any payments or transfers of property to any
Affiliates  (other  than  a  Credit Party), including any member of the board of
directors of any Credit Party, if a Default or Event of Default exists or, after
giving  effect to the making of such payment or transfer of such property, would
exist. Notwithstanding the foregoing, Air Methods may pay customary fees to, and
reimburse  the  expenses of, a member of its board of directors or a member of a
committee  of  such  board  of  directors  in  connection  with  such director's
attendance  at  such  meetings  and  performance  of  his  or her duties in such
capacity  as  a  director  or  committee  member.

     7O.  OTHER AGREEMENTS.  The Co-Obligors shall not, and shall not permit any
of  their  Subsidiaries  to,  enter  into  any  material  amendment,  waiver  or
modification  of  the  Membership  Purchase  Agreement  or any agreement related
thereto.

     8.     EVENTS  OF  DEFAULT.

     8A.     ACCELERATION.  If any of the following events shall occur and be
continuing for any reason whatsoever (and whether such occurrence shall be
voluntary or involuntary or come about or be effected by operation of law or
otherwise):

               (i)  the  Co-Obligors  default  in  the payment of any principal,
Yield-Maintenance Amount, premium or other prepayment consideration payable with
respect  to any Note when the same shall become due, either by the terms thereof
or  otherwise  as  herein  provided;  or

                                      34.
<PAGE>
               (ii)  the  Co-Obligors  default in the payment of any interest on
any Note or any other amount due under this Agreement for more than 5 days after
the  date  due;  or

               (iii)  (a)  any  Credit Party or any of its Subsidiaries defaults
(whether  as  primary obligor or as guarantor or other surety) in any payment of
principal  of  or premium or make-whole amount or other prepayment consideration
or interest on any Indebtedness beyond any period of grace provided with respect
thereto  or  (b) any Credit Party or any of its Subsidiaries fails to perform or
observe  any  other  agreement,  term or condition of any evidence of any Senior
Debt,  or  of  any  credit  agreement,  collateral  document  or other agreement
relating  thereto  or  any  other condition exists, and as a consequence of such
default  or condition such Senior Debt has become, or has been declared, due and
payable  (or  has  been required to be repurchased by any Credit Party or any of
its  Subsidiaries)  before its stated maturity or before its regularly scheduled
dates  of  payment  or  (c) any Credit Party or any of its Subsidiaries fails to
perform or observe any other agreement, term or condition of any evidence of any
Indebtedness  (other  than  the  Notes  or  any  Senior  Debt), or of any credit
agreement,  securities  purchase  agreement,  indenture,  collateral document or
other  agreement  relating thereto or any other condition exists, and the effect
of  such default or condition is to cause, or to permit the holder or holders of
such  Indebtedness,  or  a trustee on behalf of such holder or holders to cause,
such Indebtedness to become due (or to be repurchased by any Credit Party or any
of  its  Subsidiaries)  before  its  stated  maturity  or  before  its regularly
scheduled  dates  of  payment;  provided  that  the  aggregate  amount  of  all
                                --------
Indebtedness  with  respect  to  which  one  or more of the conditions or events
referred  to in one or more of the immediately preceding clauses (a), (b) or (c)
of  this  sentence  shall  be  applicable  exceeds  $500,000;  or

               (iv)  any  representation or warranty made by any Credit Party in
any  of  the Transaction Documents or by any Credit Party or any of its officers
in  any  writing  furnished  in  connection  with  or  pursuant  to  any  of the
Transaction  Documents  shall be false in any material respect on the date as of
which  made;  or

               (v)  any  Credit  Party fails to perform or observe any agreement
contained  in  clause (iii) of paragraph 6G or any of paragraphs 6M, 6N or 7; or

               (vi)  any  Credit  Party  fails  to  perform or observe any other
agreement,  term  or  condition  contained  herein  or  in any other Transaction
Document  and  such  failure  shall  not  be  remedied  within 30 days after any
Responsible  Officer  of  such Credit Party obtains actual knowledge thereof; or

                                      35.
<PAGE>
               (vii)  any  Credit  Party  or  any  of  its Subsidiaries makes an
assignment  for the benefit of creditors or is generally unable to pay its debts
as  such  debts  become  due;  or

               (viii)  any  decree  or order for relief in respect of any Credit
Party  or  any  of  its  Subsidiaries  is  entered  under  any  bankruptcy,
reorganization,  compromise,  arrangement,  insolvency,  readjustment  of  debt,
dissolution  or  liquidation  or similar law, whether now or hereafter in effect
(herein  called  the  "BANKRUPTCY  LAW"),  of  any  jurisdiction;  or

               (ix)  any  Credit  Party  or any of its Subsidiaries petitions or
applies  to  any  tribunal  for,  or  consents to, the appointment of, or taking
possession by, a trustee, receiver, custodian, liquidator or similar official of
such  Person,  or  of  any  substantial  part  of  the assets of such Person, or
commences  a voluntary case under the Bankruptcy Law of the United States or any
proceedings  (other  than  proceedings  for  the  voluntary  liquidation  and
dissolution  of a Subsidiary) relating to such Credit Party under the Bankruptcy
Law  of  any  other  jurisdiction;  or

               (x)  any  such  petition  or  application  is  filed, or any such
proceedings  are  commenced, against any Credit Party or any of its Subsidiaries
and  such  Person  by any act indicates its approval thereof, consent thereto or
acquiescence  therein, or an order, judgment or decree is entered appointing any
such  trustee, receiver, custodian, liquidator or similar official, or approving
the petition in any such proceedings, and such order, judgment or decree remains
unstayed  and  in  effect  for  more  than  30  days;  or

               (xi)  any order, judgment or decree is entered in any proceedings
against any Credit Party or any of its Subsidiaries decreeing the dissolution of
such  Person  and  such order, judgment or decree remains unstayed and in effect
for  more  than  30  days;  or

               (xii)  any  order,  judgment  or  decree  is  entered  in  any
proceedings  against  any  Credit  Party  or any of its Subsidiaries decreeing a
split-up  of such Person which requires the divestiture of assets representing a
substantial part, or the divestiture of the stock or other equity interests of a

                                      36.
<PAGE>
Subsidiary whose assets represent a substantial part, of the consolidated assets
of Air Methods and its Subsidiaries or which requires the divestiture of assets,
or stock or other equity interests of a Subsidiary, which shall have contributed
a  substantial  part  of  the  consolidated  net  income  of Air Methods and its
Subsidiaries  for  any  of  the three fiscal years then most recently ended, and
such  order,  judgment or decree remains unstayed and in effect for more than 30
days;  or

               (xiii)  one or more judgments or decrees shall be entered against
any Credit Party or any of its Subsidiaries involving a liability of $500,000 or
more  in the aggregate for all such judgments and decrees for all Credit Parties
and  their  respective  Subsidiaries  (in  either  case  in excess of the amount
covered  by  insurance  as  to  which  the  insurance  company  has acknowledged
coverage)  and  (a)  any  such judgments or decrees shall not have been vacated,
discharged,  bonded  or enforcement thereof stayed pending appeal within 45 days
from  the  entry  thereof  or (b) any enforcement proceeding therefor shall have
been  commenced;  or

               (xiv)  (A)  any  Plan  shall  fail to satisfy the minimum funding
standards  of ERISA or the Code for any plan year or part thereof or a waiver of
such  standards  or  extension  of  any amortization period is sought or granted
under  section  412  of  the  Code, (B) a notice of intent to terminate any Plan
shall  have been or is reasonably expected to be filed with the PBGC or the PBGC
shall  have  instituted  proceedings  under  ERISA  section 4042 to terminate or
appoint  a  trustee  to  administer any Plan or the PBGC shall have notified any
Credit Party or any ERISA Affiliate of any Credit Party that a Plan may become a
subject  of  such  proceedings,  (C)  the  aggregate "amount of unfunded benefit
liabilities"  (within  the  meaning  of  section 4001(a)(18) of ERISA) under all
Plans,  determined  in accordance with Title IV of ERISA, shall exceed $250,000,
(D)  any  Credit  Party  or  any  ERISA Affiliate of any Credit Party shall have
incurred or is reasonably expected to incur any liability pursuant to Title I or
IV  of  ERISA  or  the  penalty or excise tax provisions of the Code relating to
employee benefit plans in an aggregate amount exceeding $250,000, (E) any Credit
Party  or  any  ERISA  Affiliate  of  any  Credit  Party  withdraws  from  any
Multiemployer Plan resulting in a withdrawal liability in excess of $250,000, or
(F)  any  Credit  Party  or  any  of  its Subsidiaries establishes or amends any
employee  welfare benefit plan that provides post-employment welfare benefits in
a manner that would materially increase the liability of such Person thereunder;
or

                                      37.
<PAGE>
               (xv)  any of the Transaction Documents shall cease for any reason
to  be in full force and effect or any party thereto (other than any holder from
time  to  time  of  a Note) shall purport to disavow its obligations thereunder,
shall  declare  that it does not have any further obligation thereunder or shall
contest  the  validity  or  enforceability  thereof;  or

               (xvi)  (a) Air Methods shall fail to file with the Securities and
Exchange  Commission  a  registration statement covering all of the Warrants and
Warrant Shares by the Filing Date (as defined in the Stockholders' Agreement) or
(b)  such  registration  statement  shall  fail to remain continuously effective
(except  as  permitted  by  Section  3(b) of the Stockholders' Agreement) or the
Warrant  Shares shall not be continuously designated for inclusion in the Nasdaq
National  Market;  or

               (xvii)  a  Change  in  Control  shall  occur;

then (a) if such event is an Event of Default specified in clause (i) or (ii) of
this  paragraph  8A,  the  holder  of  any  Note with respect to which a payment
default  has occurred (other than any Credit Party or any of its Subsidiaries or
Affiliates)  may at its option, by notice in writing to the Co-Obligors, declare
such  Note  to  be, and such Note shall thereupon be and become, immediately due
and  payable at par together with interest accrued thereon, without presentment,
demand, protest or additional notice of any kind, all of which are hereby waived
by the Co-Obligors, (b) if such event is an Event of Default specified in clause
(viii),  (ix)  or (x) of this paragraph 8A with respect to the Credit Parties or
any  of  their  Subsidiaries,  all  of  the  Notes at the time outstanding shall
automatically  become immediately due and payable together with interest accrued
thereon  and together with the Yield-Maintenance Amount, if any, with respect to
each  Note  without  presentment,  demand, protest or notice of any kind, all of
which  are hereby waived by the Credit Parties and (c) with respect to any event
constituting  an  Event  of  Default  hereunder  (including  an Event of Default
described in clause (i) or (ii) of this paragraph 8A), the Required Holder(s) of
the  Notes  may  at its or their option, by notice in writing to Air Methods, on
behalf  of the Co-Obligors, declare all of the Notes to be, and all of the Notes
shall  thereupon  be  and  become,  immediately  due  and  payable together with
interest accrued thereon and together with the Yield-Maintenance Amount, if any,
through  the  date  of  such  acceleration  with  respect  to each Note, without
presentment,  demand, protest or additional notice of any kind, all of which are
hereby  waived  by  each  Credit  Party.

                                      38.
<PAGE>
     8B.     RESCISSION  OF  ACCELERATION.  At  any time after any or all of the
Notes shall have become or been declared immediately due and payable pursuant to
paragraph  8A,  the Required Holder(s) may, by notice in writing to Air Methods,
on  behalf  of  the  Co-Obligors,  rescind  and  annul  such declaration and its
consequences  if  (i) the Credit Parties shall have paid all overdue interest on
such Notes, the principal of and Yield-Maintenance Amount, premium and any other
prepayment  consideration,  if any, payable with respect to the Notes which have
become  due  otherwise  than by reason of such declaration, and interest on such
overdue  principal,  Yield-Maintenance  Amount, premium and any other prepayment
consideration, interest, and overdue interest at the rate specified herein or in
such  Notes,  (ii) the Credit Parties shall not have paid any amounts which have
become due solely by reason of such declaration, (iii) all Events of Default and
Defaults,  other  than  non-payment  of  amounts which have become due solely by
reason  of  such  declaration,  shall  have  been  cured  or  waived pursuant to
paragraph  12C  and  (iv)  no judgment or decree shall have been entered for the
payment  of  any  amounts  due pursuant to the Notes or this Agreement.  No such
rescission  or  annulment  shall  extend  to  or  affect any subsequent Event of
Default  or  Default  or  impair  any  right  arising  therefrom.

     8C.     NOTICE  OF  ACCELERATION OR RESCISSION.  Whenever any Note shall be
declared  immediately  due  and  payable  pursuant  to  paragraph 8A or any such
declaration  shall  be  rescinded  and  annulled  pursuant  to paragraph 8B, the
Co-Obligors  shall  forthwith  give written notice thereof to the holder of each
Note  at  the  time  outstanding.

     8D.     OTHER REMEDIES.  If any Event of Default or Default shall occur and
be  continuing,  the  holder  of any Note may proceed to protect and enforce its
rights  under  this  Agreement, such Note and the other Transaction Documents by
exercising  such  remedies  as  are  available  to such holder thereunder and in
respect  thereof  under applicable law, either by suit in equity or by action at
law,  or  both,  whether  for  specific  performance  of  any  covenant or other
agreement  contained  in  this Agreement or any other Transaction Document or in
aid  of  the  exercise  of  any  power  granted  in  this Agreement or any other
Transaction  Document.  No  remedy  conferred  in  this  Agreement  or any other
Transaction  Document  upon  or  for  the  benefit  of the holder of any Note is
intended  to  be  exclusive  of any other remedy, and each and every such remedy
shall  be  cumulative  and  shall be in addition to every other remedy conferred
herein, in any other Transaction Document or now or hereafter existing at law or
in  equity  or  by  statute  or  otherwise.

                                      39.
<PAGE>
     9.     REPRESENTATIONS,  COVENANTS  AND  WARRANTIES.  Each  Co-Obligor
represents  and  warrants  as follows, in each case both with and without giving
effect  to  the  consummation  of  the  RMH  Acquisition:

     9A(1).     ORGANIZATION; SUBSIDIARIES.  Each Credit Party is duly organized
and  existing  in  good  standing  under  the  laws  of the state in which it is
organized,  and  is licensed or qualified to do business and in good standing in
every  jurisdiction  where  the ownership of its properties or the nature of the
business conducted by it makes such licensing or qualification necessary, except
where  the  failure to be licensed or qualified could not reasonably be expected
to  have  a  material  adverse  effect  on the business, condition (financial or
otherwise), operations or prospects of the Credit Parties taken as a whole.  The
exact  legal  names  of  each  of  Air  Methods  and  its  direct  and  indirect
subsidiaries,  the  jurisdiction  in  which  each  such Person is organized, the
equity  owner(s)  of each such Person and the ownership interests of such owners
therein  are  as  set  forth  in  Schedule  9A(1).
                                  ---------------

     9A(2).     POWER  AND AUTHORITY.  Each Credit Party has all requisite power
to  conduct  its business as currently conducted and as currently proposed to be
conducted.  Each  Credit  Party  has all requisite power to execute, deliver and
perform  its obligations under the Transaction Documents to which such Person is
a party; each of Air Methods and RMH has all requisite power to execute, deliver
and  perform  its  obligations  under  the Membership Purchase Agreement and all
agreements  and  documents  contemplated  thereby  to  which it is a party.  The
execution,  delivery  and  performance  by  each  of  the  Credit Parties of the
Transaction  Documents  to which each such Person is a party, and the execution,
delivery  and  performance  by  each  of  Air  Methods and RMH of the Membership
Purchase  Agreement  and  the  agreements  and documents contemplated thereby to
which  it  is  a party, have been duly authorized by all requisite action on the
part  of such Persons.  The Transaction Documents to which any Credit Party is a
party  have  been  duly  executed  and delivered by Responsible Officers of such
Person,  and  are  valid  obligations  of  such Person, legally binding upon and
enforceable  against  such Person in accordance with their terms, except as such
enforceability  may  be limited by (i) bankruptcy, insolvency, reorganization or
other  similar laws affecting the enforcement of creditors' rights generally and
(ii)  general  principles  of  equity  relating to enforceability (regardless of

                                      40.
<PAGE>
whether  such enforceability is considered in a proceeding in equity or at law).
The  Membership Purchase Agreement and the agreements and documents contemplated
thereby  to  which  Air  Methods  or  RMH is a party have been duly executed and
delivered  by Responsible Officers of each of Air Methods and RMH, and are valid
obligations  of  each  such  Person,  and  legally  binding upon and enforceable
against  each  such  Person  in  accordance  with  their  terms,  except as such
enforceability  may  be limited by (i) bankruptcy, insolvency, reorganization or
other  similar laws affecting the enforcement of creditors' rights generally and
(ii)  general  principles  of  equity  relating to enforceability (regardless of
whether  such enforceability is considered in a proceeding in equity or at law).

     9B.     FINANCIAL  STATEMENTS.  Air  Methods  has  furnished the Purchasers
with  the  following financial statements:  (i) the audited consolidated balance
sheets  of  Air Methods and its Subsidiaries as at December 31, 1998, 1999, 2000
and  2001,  and  consolidated statements of operations, changes in stockholders'
equity  and  cash  flows  of Air Methods and its Subsidiaries for each such year
ended  as of such dates, reported on by KPMG, L.L.P. for each of such years; and
(ii)  the  unaudited  consolidated  balance  sheet  of  Air  Methods  and  its
Subsidiaries as at June 30, 2002 and the comparable date in the preceding fiscal
year  and consolidated statements of operations, changes in stockholders' equity
and  cash  flows  for the six-month period ended on such dates, all certified by
Air  Methods' chief financial officer.  Air Methods has furnished the Purchasers
with  the  following financial statements:  (i) the audited consolidated balance
sheets of RMH and its Subsidiaries as at December 31, 1998, 1999, 2000 and 2001,
and  consolidated  statements of operations, changes in members' equity and cash
flows  of  RMH  and  its Subsidiaries for each such year ended as of such dates,
reported  on  by  a "Big 4" independent auditor for each of such years; and (ii)
the  unaudited consolidated balance sheet of RMH and its Subsidiaries as at June
30,  2002  and the comparable date in the preceding fiscal year and consolidated
statements  of  operations,  changes  in  members' equity and cash flows for the
six-month period ended on such dates.  The financial statements described in the
two  preceding sentences (including any related schedules and/or notes) are true
and  correct  in  all  material  respects (subject, as to interim statements, to
changes  resulting from audits and year-end adjustments which are not material),
have  been prepared in accordance with GAAP consistently followed throughout the
periods  involved  and show all consolidated liabilities, direct and contingent,

                                      41.
<PAGE>
required  to  be  shown in accordance with such principles.  Such balance sheets
fairly present the condition of Air Methods and its Subsidiaries and RMH and its
Subsidiaries,  as  applicable,  as  at the dates thereof, and such statements of
operations, stockholders' or members' equity, as the case may be, and cash flows
fairly present the results of the operations of Air Methods and its Subsidiaries
and  RMH  and its Subsidiaries, as applicable, for the periods indicated.  There
has  not been a material adverse change in the business, condition (financial or
otherwise),  operations  or  prospects of Air Methods and its Subsidiaries or of
RMH  and  its  Subsidiaries,  in  each  case  since  December  31,  2001.

     Air  Methods  has  furnished  the  Purchasers  with  a balance sheet of Air
Methods  and  its  Subsidiaries as of August 31, 2002 giving pro forma effect to
the  consummation  of the RMH Acquisition and the incurrence of the Indebtedness
under  the  Notes  and under the Senior Credit Facility.  Such pro forma balance
sheet  shows all consolidated liabilities, direct and contingent, required to be
shown,  after  giving  effect to the consummation of the RMH Acquisition and the
incurrence  of  the  Indebtedness  under  the  Notes and under the Senior Credit
Facility  as  at  the  date  thereof.

     9C.     CAPITAL  STOCK  AND  RELATED  MATTERS.  As of the Closing and after
giving  effect  to the transactions contemplated under the Transaction Documents
the  authorized  capital  stock  of  Air  Methods will consist of (i) 16,000,000
shares of Common Stock, of which 9,462,179 shares will be issued and outstanding
and  (ii) 5,000,000 shares of the Company's preferred stock, $1.00 par value, of
which  no  shares  will  be issued and outstanding.  Except for the Warrants and
except  as set forth on Schedule 9C, no Person will have any rights to subscribe
                        -----------
for  or  to  purchase,  or  any  options or warrants for the purchase of, or any
agreements  providing  for  the  issuance  (contingent  or otherwise) of, or any
calls, commitments or claims of any other character relating to the issuance of,
any  shares  of capital stock of Air Methods.  When the Warrants to be purchased
hereunder  have  been  delivered  as  provided  herein,  the  Warrant Shares (i)
together  with  all  outstanding  shares  of capital stock and shares of capital
stock  issuable  upon  exercise  of  any outstanding warrants and options of Air
Methods  will  not  exceed the number of shares that have been authorized by Air
Methods'  certificate  of incorporation or bylaws or otherwise), (ii) will, upon
payment  therefor  in  accordance  with  the  terms of the Warrants, be duly and
validly  issued, fully paid and nonassessable, (iii) will have been reserved for
issuance pursuant to the terms of the Warrants and (iv) will constitute 4.14% of

                                      42.
<PAGE>
the  capital  stock of Air Methods on a fully diluted basis (taking into account
all outstanding warrants, options and other rights to purchase the capital stock
of  Air  Methods,  including  the  Common  Stock)  as  of  the  Closing.

     9D.     ACTIONS  PENDING.  There  is no action, proceeding or investigation
pending  or, to the best knowledge of the Credit Parties, threatened against Air
Methods  or  RMH which questions the validity or legality of or seeks damages in
connection  with the Membership Purchase Agreement, this Agreement or any of the
other  Transaction  Documents or any action taken or to be taken pursuant to the
Membership  Purchase  Agreement,  this Agreement or any of the other Transaction
Documents.  There is no action, suit, investigation or proceeding pending or, to
the best knowledge of the Credit Parties, threatened against any Credit Party or
any  of its Subsidiaries, or any properties or rights of any Credit Party or any
of  its  Subsidiaries,  by  or before any court, arbitrator or administrative or
governmental  body  which,  individually  or  collectively,  could reasonably be
expected  to  result  in  a  Material  Adverse Effect. Set forth on the attached
Schedule  9D  is  a  list  and  brief description of current, pending litigation
------------
matters,  and overtly threatened material litigation matters of which any Credit
Party  is  aware,  or  to  which  any  Credit  Party  is  a  party.

     9E.     OUTSTANDING  DEBT.  No  Credit Party nor any Subsidiary of a Credit
Party  has  outstanding  any  Indebtedness  except as permitted under paragraphs
7A(3),  7A(4)  and  7A(6).  There  exists no default under the provisions of any
instrument  evidencing  such  Indebtedness or of any agreement relating thereto.

     9F.     TITLE TO PROPERTIES; INSURANCE.  Each of the Credit Parties and its
Subsidiaries  has  good  and marketable title to its real properties (other than
properties  which such Person leases) and merchantable title to all of its other
properties  and  assets,  including  all  properties and assets reflected in the
audited  balance  sheets, each dated December 31, 2001, referred to in paragraph
9B,  subject  to  no  Lien of any kind except for Permitted Liens and except for
sales  or  other  disposals  thereof  in  the  ordinary  course  of business and
consistent  with  past  practices.  All leases necessary in any material respect
for  the  conduct  of  the  business  of  each  of  the  Credit  Parties and its
Subsidiaries  are  valid  and subsisting and are in full force and effect.  Each
Credit  Party  maintains with financially sound and reputable insurers insurance
with  coverage  and  limits  as required by law and as is customary with persons
engaged  in  the  same or similar businesses as the Credit Parties.  Schedule 9F
                                                                     -----------
sets  forth  all  insurance carried by the Credit Parties as of the Closing Day,
setting  forth  in  detail  the  amount  and  type  of  such  insurance.

                                      43.
<PAGE>
     9G.     COMPLIANCE  WITH  LAWS.  Each  of  the  Credit  Parties  and  its
Subsidiaries and all of their respective properties and facilities have complied
at  all  times  and  in all respects with all foreign, federal, state, local and
regional  statutes,  laws,  ordinances  and  judicial  or administrative orders,
judgments,  rulings  and regulations, including all federal and state securities
laws,  Environmental  Laws  and  the  Fair  Labor Standards Act, and the Federal
Aviation  Act  of 1958, as amended, and rules and regulations promulgated by the
U.S.  Department of Transportation, except, in any case, where failure to comply
could  not  reasonably  be  expected  to  have  a  Material  Adverse  Effect.

     9H.     TAXES.  Each of the Credit Parties and each of its Subsidiaries has
filed, prior to the date the same become delinquent, all foreign, federal, state
and  other  income  tax  returns which, to the best knowledge of the officers of
such  Person,  are required to be filed, and each has paid all taxes as shown on
such returns and on all assessments received by it to the extent that such taxes
have become due, except such taxes (i) which are subject to a Good Faith Contest
or  (ii)  the  nonpayment  of  which  could not reasonably be expected to have a
Material  Adverse  Effect.

     9I.     CONFLICTING  AGREEMENTS  AND OTHER MATTERS.  Except as described on
Schedule  9I(1),  none  of the execution and delivery of the Membership Purchase
----------------
Agreement,  this  Agreement  or  any  other  Transaction Document, the offering,
issuance  and  sale  of the Securities, or the fulfillment of or compliance with
the terms and provisions of the Membership Purchase Agreement, this Agreement or
of  any  other Transaction Document will conflict with, or result in a breach of
the terms, conditions or provisions of, or constitute a default under, or result
in  any  violation  of,  or  result  in the creation of any Lien upon any of the
properties  or  assets of any of the Credit Parties or its Subsidiaries pursuant
to,  the charter, bylaws, operating agreement or agreement among the members (or
similar  governing documents) of such Person, any award of any arbitrator or any
agreement  (including  any  agreement  with the equity holders of such Person or
Persons  with  direct  or  indirect ownership interests in the equity holders of
such  Person),  instrument,  order,  judgment,  decree,  statute,  law,  rule or
regulation to which any Credit Party or its Subsidiaries is subject.  Except for
Indebtedness  to  be repaid or discharged in its entirety on the Closing Day and
except  as  described  on  Schedule  9I(2),  none  of  the Credit Parties or its
                           ---------------

                                      44.
<PAGE>
Subsidiaries  is a party to, or otherwise subject to any provision contained in,
any  instrument  evidencing  Indebtedness of such Person, any agreement relating
thereto  or  any  other  contract or agreement (including its bylaws, charter or
similar  constituent documents) which limits the amount of, or otherwise imposes
restrictions  on, the incurring of Indebtedness of such Person of the type to be
evidenced  by  the  Notes  or  incurred  pursuant  to the Transaction Documents.

     9J.     OFFERING  OF  SECURITIES  IN  COMPLIANCE  WITH  LAWS.  None  of the
Co-Obligors  nor  any  agent  acting  on its behalf has, directly or indirectly,
offered  the Securities or any similar security of any or all of the Co-Obligors
for  sale  to,  or  solicited  any  offers  to buy the Securities or any similar
security  of  any  or  all  of  the Co-Obligors from, or otherwise approached or
negotiated  with  respect  thereto  with, any Person other than not more than 10
Institutional Investors, and none of the Co-Obligors nor any agent acting on its
behalf  has  taken  or  will take any action which would subject the offering or
sale  of  the  Securities  to the provisions of section 5 of the Securities Act.

     9K.     USE OF PROCEEDS.  The proceeds of sale of the Notes will be used to
finance  a  portion  of  the  purchase  price in the RMH Acquisition and to fund
working capital and general corporate needs of the Co-Obligors.  The obligations
under the Notes will not be directly or indirectly secured by any "margin stock"
as  defined  in  Regulation U (12 CFR Part 221) of the Board of Governors of the
Federal  Reserve  System.  Neither  any Credit Party nor any agent acting on any
Credit  Party's  behalf has taken or will take any action which might cause this
Agreement  or  the  Notes to violate Regulation T, Regulation U, Regulation X or
any  other regulation of the Board of Governors of the Federal Reserve System or
to  violate  the  Exchange Act, in each case as in effect now or as the same may
hereafter  be  in  effect.

     9L.     ERISA.  No  accumulated  funding  deficiency (as defined in section
302  of  ERISA  and section 412 of the Code), whether or not waived, exists with
respect to any Plan (other than a Multiemployer Plan).  No liability to the PBGC
has been or is expected by any Credit Party or any ERISA Affiliate of any Credit
Party  to be incurred with respect to any Plan (other than a Multiemployer Plan)
by  any Credit Party, any Subsidiary of a Credit Party or any ERISA Affiliate of
any  Credit  Party  which  is  or  could reasonably be expected to be materially
adverse  to  the  business,  condition  (financial  or otherwise), operations or
prospects of the Credit Parties taken as a whole.  Neither any Credit Party, any

                                      45.
<PAGE>
Subsidiary  of  a  Credit  Party nor any ERISA Affiliate of any Credit Party has
incurred  or  presently expects to incur any withdrawal liability under Title IV
of  ERISA with respect to any Multiemployer Plan which is or would be materially
adverse  to  the  business,  condition  (financial  or otherwise), operations or
prospects of the Credit Parties taken as a whole.  The execution and delivery of
this  Agreement and the other Transaction Documents and the issuance and sale of
the  Notes  will  be  exempt  from, or will not involve any transaction which is
subject  to,  the  prohibitions of section 406 of ERISA and will not involve any
transaction  in  connection  with which a penalty could be imposed under section
502(i)  of ERISA or a tax could be imposed pursuant to section 4975 of the Code.
The  representation  in the next preceding sentence is made in reliance upon and
subject to the accuracy of Purchasers' representation in paragraph 10B as to the
source  of  funds  to  be  used  by  it  to  purchase  any  Notes.

     9M.     GOVERNMENTAL CONSENT.  Except such as may have been completed prior
to  the Closing or in connection with the RMH Acquisition, neither the nature of
any  Credit  Party or its Subsidiaries nor any of their respective businesses or
properties,  nor  any  relationship between any Credit Party or its Subsidiaries
and  any  other  Person,  nor  any circumstance in connection with the offering,
issuance,  sale  or delivery of the Securities or the use of the proceeds of the
Notes  is  such as to require any authorization, consent, approval, exemption or
other  action  by  or  notice  to  or filing with any court or administrative or
governmental  body  (excluding  routine  filings with respect to the Notes to be
made  after  the  date  of  closing  with the Securities and Exchange Commission
and/or  state  securities  law authorities) in connection with the execution and
delivery  of the Transaction Documents, the offering, issuance, sale or delivery
of  the  Notes or the fulfillment of or compliance with the terms and provisions
hereof  or  of  any  other  Transaction  Document.

     9N.     REGULATORY  STATUS.  None of the Credit Parties or its Subsidiaries
is  (i)  an  "investment  company"  or  a company "controlled" by an "investment
company"  within  the meaning of the Investment Company Act of 1940, as amended,
(ii)  a  "holding  company"  or  a  "subsidiary  company" or an "affiliate" of a
"holding  company"  or  a "subsidiary company" of a "holding company" within the
meaning  of  the  Public  Utility  Act  of  1935, as amended, or (iii) a "public
utility"  within  the  meaning  of  the  Federal  Power  Act,  as  amended.

                                      46.
<PAGE>
     9O.     ABSENCE  OF  FINANCING  STATEMENTS,  ETC.  Except  with  respect to
Permitted  Liens,  there  is no financing statement, security agreement, chattel
mortgage,  real  estate  mortgage  or  deed  of trust or other document filed or
recorded with any filing records, registry or other public office, that purports
to  cover,  affect  or give notice of any present or possible future Lien on, or
security  interest  in, any assets or property of any Credit Party or any rights
relating  thereto.

     9P.     HOSTILE  TENDER  OFFERS.  None  of  the proceeds of the sale of the
Notes  will  be  used  to  finance  a  Hostile  Tender  Offer.

     9Q.     NO  LOSS OF MATERIAL CUSTOMER.  Except as disclosed on Schedule 9Q,
                                                                    -----------
the  Credit  Parties  do not have reason to believe that any Credit Party or its
Subsidiaries'  relationship  with any customer or any Affiliate of such customer
has  been  or  will  be  terminated  or  reduced.

     9R.     LABOR  AND EMPLOYEE RELATIONS MATTERS.  (i)  Except as set forth on
Schedule  9R,  none of the Credit Parties is the subject of any labor dispute or
------------
activity involving the organization of a union for a group or class of employees
which are not currently union members, nor has there been any strike of any kind
called  or, to the best knowledge of the Credit Parties, threatened to be called
against  any Credit Party or its Subsidiaries; and none of the Credit Parties or
its  Subsidiaries  has  violated any applicable foreign, federal or state law or
regulation  relating  to  labor  or  labor  practices where such violation could
reasonably  be  expected  to  have  a  Material  Adverse  Effect.

          (ii)  Except  as described in Schedule 9R hereto, no present or former
                                        -----------
employees  of  any  Credit  Party  or  its  Subsidiaries have advanced claims in
writing against such Person (whether under any foreign, federal, state or common
law,  through  a  government  agency,  under an employment agreement, collective
bargaining  agreement,  personal  service or independent contractor agreement or
otherwise)  that are currently pending for (a) overtime pay, other than overtime
pay  for  the  current  payroll  period;  (b)  wages, salaries or profit sharing
(excluding  wages,  salaries  or profit sharing for the current payroll period);
(c)  vacations,  time  off  (including  potential  sick leave) or pay in lieu of
vacation  or  time off, other than vacation or time off (or pay in lieu thereof)
earned  in respect of the current fiscal year; (d) any violation of any statute,
ordinance  or regulation relating to minimum wages or maximum hours of work; (e)
discrimination  against  employees  on  any  basis;  (f)  unlawful employment or

                                      47.
<PAGE>
termination  practices;  (g)  unfair  labor  practices  or alleged violations of
collective  bargaining  agreements;  (h)  any  violation  of occupational safety
and/or  health  standards; (i) benefits under any employee plans or compensation
arrangement;  and  (j) breach of any employment, personal service or independent
contractor  agreement,  except  any  such claims which, in the aggregate, do not
exceed  $250,000.

          (iii)  There  is  not  pending or, to the best knowledge of the Credit
Parties  threatened,  any  charge  or  complaint against any Credit Party or its
Subsidiaries by or before the National Labor Relations Board, any representative
thereof,  or  any  comparable  foreign  or  state  agency  or  authority.

          (iv)  All  collective  bargaining agreements to which any Credit Party
or  any  of  its  Subsidiaries  is  a  party on the Closing Day are described in
Schedule  9R  hereto.
------------

     9S.     DISCLOSURE.  Neither  the  private  placement  memorandum  of  Air
Methods dated May 2002, this Agreement or any other Transaction Document nor any
other  document  or certificate furnished by or on behalf of any Credit Party in
connection  with  such  private  placement memorandum, this Agreement, any other
Transaction  Document  or  the  issuance  of  the Securities contains any untrue
statement  of  a  material  fact  or omits to state a material fact necessary in
order to make the statements contained herein and therein not misleading.  There
is no fact known to any Credit Party that could reasonably be expected to have a
Material  Adverse  Effect  that has not been set forth in such private placement
memorandum,  herein,  in the press release dated June 7, 2002 announcing the RMH
Acquisition,  the  periodic  filings  of  Air  Methods  with  the Securities and
Exchange  Commission  and  other  documents,  certificates  and  other  writings
delivered  to  you by or on behalf of the Credit Parties specifically for use in
connection with the transactions contemplated hereby.  The projections delivered
to  the Purchasers are reasonable in light of the facts and circumstances at the
time  of  their  preparation and no event, condition or development has occurred
through  the  Closing  Day  that  would  make such projections misleading in any
material  respect.

     9T.     SOLVENCY.  After giving effect to the incurrence on the Closing Day
of  Indebtedness  under  the  Notes  and  the  Senior Credit Facility and to the
payment  of  all estimated legal, accounting and other fees and expenses related
to  the  foregoing,  each  Credit  Party will be "Solvent," meaning (a) the fair
market  value  of such Person's assets will be in excess of the amount that will

                                      48.
<PAGE>
be  required to be paid on or in respect of existing debts and other liabilities
(including contingent liabilities) as they mature; (b) none of such Persons will
have  unreasonably  small  capital to carry on its businesses as conducted or as
proposed to be conducted; (c) no such Person intends to or believes that it will
incur  debts  beyond  its  ability to pay such debts as they mature (taking into
account  the  timing and amounts of cash to be received by it and the amounts to
be  payable  on  or  in  respect  of  its obligations); (d) none of such Persons
intends  to hinder, delay or defraud either present or future creditors; and (e)
each  of  such  Persons  will  have  received  fair consideration and reasonably
equivalent  value  in  exchange  for  incurring  the  Indebtedness  under  the
Transaction  Documents and the Senior Credit Documents to which such Person is a
party.

     9U.     EMPLOYMENT  AGREEMENTS.  Except  as set forth on Schedule 9U, there
                                                              -----------
are  no  employment or other agreements to which any officer of any Credit Party
or  its  Subsidiaries  and  any  Credit  Party  or  its  Subsidiaries are party.

     10.     REPRESENTATIONS  OF  PURCHASERS.  Each of the Purchasers represents
as  follows:

     10A.     NATURE  OF  PURCHASE.  Such  Purchaser  is  not  acquiring  the
Securities  to  be  purchased  by  it  hereunder  with  a view to or for sale in
connection  with  any  distribution thereof within the meaning of the Securities
Act,  provided  that  the  disposition of such Purchaser's property shall at all
times  be  and  remain  within  its  control.

     10B.     SOURCE  OF  FUNDS.  At least one of the following statements is an
accurate  representation  as  to each source of funds (a "SOURCE") to be used by
such  Purchaser  to  pay the purchase price of the Notes to be purchased by such
Purchaser  hereunder:

          (i)     the  Source  is an "insurance company general account" (as the
     term  is  defined  in  the  United  States Department of Labor's Prohibited
     Transaction  Exemption  ("PTE") 95-60) in respect of which the reserves and
     liabilities  (as  defined  by  the  annual  statement  for  life  insurance
     companies  approved  by the National Association of Insurance Commissioners
     (the  "NAIC ANNUAL STATEMENT")) for the general account contract(s) held by
     or  on  behalf of any employee benefit plan together with the amount of the
     reserves  and liabilities for the general account contract(s) held by or on
     behalf  of any other employee benefit plans maintained by the same employer

                                      49.
<PAGE>
     (or  affiliate  thereof  as  defined  in PTE 95-60) or by the same employee
     organization in the general account do not exceed 10% of the total reserves
     and  liabilities  of  the  general  account  (exclusive of separate account
     liabilities)  plus  surplus as set forth in the NAIC Annual Statement filed
     with  such  Purchaser's  state  of  domicile;  or

          (ii)     the Source is a separate account that is maintained solely in
     connection  with such Purchaser's fixed contractual obligations under which
     the  amounts  payable,  or  credited,  to any employee benefit plan (or its
     related  trust)  that  has any interest in such separate account (or to any
     participant  or beneficiary of such plan (including any annuitant)) are not
     affected  in  any  manner  by  the  investment  performance of the separate
     account;  or

          (iii)     the  Source  is  either  (a)  an  insurance  company  pooled
     separate  account,  within the meaning of PTE 90-1 or (b) a bank collective
     investment  fund,  within  the  meaning  of  the  PTE  91-38 and, except as
     disclosed  by such Purchaser to the Co-Obligors in writing pursuant to this
     clause  (iii), no employee benefit plan or group of plans maintained by the
     same  employer  or employee organization beneficially owns more than 10% of
     all  assets  allocated  to  such  pooled  separate  account  or  collective
     investment  fund;  or

          (iv)     the Source constitutes assets of an "investment fund" (within
     the  meaning  of  Part  V of PTE 84-14 (the "QPAM EXEMPTION")) managed by a
     "qualified  professional  asset  manager"  or "QPAM" (within the meaning of
     Part  V  of the QPAM Exemption), no employee benefit plan's assets that are
     included  in  such  investment  fund,  when combined with the assets of all
     other employee benefit plans established or maintained by the same employer
     or  by  an  affiliate  (within  the  meaning of Section V(c)(1) of the QPAM
     Exemption)  of  such  employer  or  by  the  same employee organization and
     managed by such QPAM, exceed 20% of the total client assets managed by such
     QPAM,  the  conditions  of  Part  I(c)  and  (g)  of the QPAM Exemption are
     satisfied,  neither  the QPAM nor a person controlling or controlled by the
     QPAM  (applying  the  definition  of  "control" in Section V(e) of the QPAM
     Exemption)  owns  a  5%  or  more  interest  in  the Co-Obligor and (a) the
     identity of such QPAM and (b) the names of all employee benefit plans whose
     assets  are  included  in  such  investment fund have been disclosed to the
     Co-Obligors  in  writing  pursuant  to  this  clause  (iv);  or

                                      50.
<PAGE>
          (v)     the  Source  constitutes  assets  of  a  "plan(s)" (within the
     meaning  of  Section IV of PTE 96-23 (the "INHAM EXEMPTION")) managed by an
     "in-house  asset  manager" or "INHAM" (within the meaning of Part IV of the
     INHAM  exemption),  the  conditions  of Part I(a), (g) and (h) of the INHAM
     Exemption  are  satisfied,  neither  the  INHAM nor a person controlling or
     controlled  by  the  INHAM (applying the definition of "control" in Section
     IV(h)  of the INHAM Exemption) owns a 5% or more interest in the Co-Obligor
     and  (a)  the  identity  of  such INHAM and (b) the name(s) of the employee
     benefit  plan(s)  whose assets constitute the Source have been disclosed to
     the  Co-Obligor  in  writing  pursuant  to  this  clause  (v);  or

          (vi)     the  Source  is  a  governmental  plan;  or

          (vii)     the  Source  is  one  or  more  employee benefit plans, or a
     separate  account  or  trust fund comprised of one or more employee benefit
     plans,  each  of  which  has  been  identified to the Co-Obligor in writing
     pursuant  to  this  clause  (vii);  or

          (viii)     the  Source does not include assets of any employee benefit
     plan,  other  than  a  plan  exempt  from  the  coverage  of  ERISA.

          As  used  in  this  paragraph  10B, the terms "employee benefit plan,"
"governmental  plan,"  and "separate account" shall have the respective meanings
assigned  to  such  terms  in  Section  3  of  ERISA.

     11.     DEFINITIONS;  ACCOUNTING  MATTERS.  For  the  purpose  of  this
Agreement,  the  terms  defined in paragraphs 11A and 11B (or within the text of
any  other  paragraph)  shall have the respective meanings specified therein and
all  accounting  matters  shall  be  subject  to  determination  as  provided in
paragraph  11C.

     11A.     YIELD-MAINTENANCE  TERMS.

     "BUSINESS  DAY" shall mean any day other than a Saturday, a Sunday or a day
on  which  commercial  banks  in  New York City are required or authorized to be
closed.

     "CALLED  PRINCIPAL"  shall mean, with respect to any Note, the principal of
such  Note  that  becomes  immediately due and payable pursuant to paragraph 8A.

                                      51.
<PAGE>
     "DISCOUNTED  VALUE" shall mean, with respect to the Called Principal of any
Note,  the  amount obtained by discounting all Remaining Scheduled Payments with
respect  to  such  Called Principal from their respective scheduled due dates to
the  Settlement  Date  with respect to such Called Principal, in accordance with
accepted  financial  practice  and at a discount factor (as converted to reflect
the  periodic  basis  on  which interest on such Note is payable, if interest is
payable  other than on a semi-annual basis) equal to the Reinvestment Yield with
respect  to  such  Called  Principal.

     "REINVESTMENT  YIELD"  shall  mean, with respect to the Called Principal of
any Note, 1.00% over the yield to maturity implied by (i) the yields reported as
of  10:00 a.m. (New York City local time) on the Business Day next preceding the
Settlement  Date  with respect to such Called Principal for actively traded U.S.
Treasury  securities  having  a  maturity equal to the Remaining Average Life of
such  Called  Principal as of such Settlement Date on the Treasury Yield Monitor
page  of  Standard  &  Poor's  MMS  - Treasury Market Insight (or, if Standard &
Poor's  shall  cease  to  report such yields in MMS - Treasury Market Insight or
shall  cease  to  be  Prudential  Capital  Partners,  L.P.'s customary source of
information for calculating yield-maintenance amounts on privately placed notes,
then such source as is then Prudential Capital Partners, L.P.'s customary source
of such information), or if such yields shall not be reported as of such time or
the  yields  reported  as  of  such  time  shall  not be ascertainable, (ii) the
Treasury  Constant Maturity Series yields reported, for the latest day for which
such  yields  shall  have been so reported as of the Business Day next preceding
the  Settlement  Date  with respect to such Called Principal, in Federal Reserve
Statistical  Release  H.15(519)  (or  any  comparable successor publication) for
actively traded U.S. Treasury securities having a constant maturity equal to the
Remaining  Average  Life  of  such  Called Principal as of such Settlement Date.
Such  implied  yield  shall  be determined, if necessary, by (a) converting U.S.
Treasury  bill  quotations to bond equivalent yields in accordance with accepted
financial  practice  and  (b) interpolating linearly between yields reported for
various  maturities.  The  Reinvestment  Yield  shall be rounded to four decimal
places.

     "REMAINING  AVERAGE  LIFE" shall mean, with respect to the Called Principal
of  any  Note,  the number of years (calculated to the nearest one-twelfth year)
obtained by dividing (i) such Called Principal into (ii) the sum of the products
obtained  by  multiplying  (a)  each  Remaining Scheduled Payment of such Called

                                      52.
<PAGE>
Principal  (but  not of interest thereon) by (b) the number of years (calculated
to  the  nearest one-twelfth year) which will elapse between the Settlement Date
with  respect  to  such  Called  Principal  and  the  scheduled due date of such
Remaining  Scheduled  Payment.

     "REMAINING  SCHEDULED  PAYMENTS"  shall  mean,  with  respect to the Called
Principal  of  any  Note,  all  payments  of  such Called Principal and interest
thereon  that  would be due on or after the Settlement Date with respect to such
Called  Principal  if no payment of such Called Principal were made prior to its
scheduled  due  date.

     "SETTLEMENT  DATE"  shall mean, with respect to the Called Principal of any
Note,  the  date  on  which  such  Called  Principal becomes immediately due and
payable  pursuant  to  paragraph  8A.

     "YIELD-MAINTENANCE  AMOUNT" shall mean, with respect to any Note, an amount
equal  to the excess, if any, of the Discounted Value of the Called Principal of
such  Note  over the sum of (i) such Called Principal plus (ii) interest accrued
thereon  as  of  (including interest due on) the Settlement Date with respect to
such  Called  Principal.  The Yield-Maintenance Amount shall in no event be less
than  zero.

     11B.     OTHER  TERMS.

     "ACQUISITION"  shall  mean  any  transaction,  or  any  series  of  related
transactions,  consummated after the Closing Date excluding the RMH Acquisition,
by  which  Air  Methods  or  any  of its Subsidiaries directly or indirectly (i)
acquires  any  ongoing business or all or a substantial portion of the assets of
any  Person  engaged  in  any  ongoing  business,  whether through a purchase of
assets,  a  merger or otherwise, (ii) acquires control of securities of a Person
engaged in an ongoing business representing more than 50% of the ordinary voting
power  for the election of directors or other governing position if the business
affairs  of  such  Person are managed by a board of directors or other governing
body or (iii) acquires control of more than 50% of the ownership interest in any
partnership,  joint  venture, limited liability company, business trust or other
Person  engaged  in  an  ongoing  business  that  is  not  managed by a board of
directors  or  other  governing  body.

     "AFFILIATE"  shall  mean  any  Person  directly  or indirectly controlling,
controlled  by,  or under direct or indirect common control with, a Credit Party
or  another  specified  Person, except a Subsidiary of a Credit Party.  A Person
shall  be  deemed  to  control  an  entity if such Person possesses, directly or

                                      53.
<PAGE>
indirectly,  the  power  to  direct or cause the direction of the management and
policies  of such entity, whether through the ownership of voting securities, by
contract  or  otherwise.  Notwithstanding  anything  to  the  contrary  in  this
definition,  neither  of  the Purchasers nor any other holder of the Warrants or
Warrant  Shares shall be deemed to be an Affiliate of any Credit Party or any of
its  Subsidiaries  solely  by reason of its ownership of any Warrants or Warrant
Shares.

     "AGENT"  means  PNC  Bank,  National  Association,  any  successor  thereto
appointed  in  accordance  with  the Senior Credit Agreement, in its capacity as
agent  for the Banks, or, in the case of Refinancing Debt, the Agent thereunder.

     "AGREEMENT"  shall mean this Securities Purchase Agreement and all exhibits
and  schedules  hereto,  as the same may from time to time be amended, restated,
supplemented  or  otherwise  modified.

     "AIR  METHODS"  shall  have  the  meaning  specified  in  the  introductory
paragraph  of  this  Agreement.

     "AIRCRAFT" shall mean (i) an engine-driven fixed-wing aircraft heavier than
air,  that is supported in flight by the dynamic reaction of the air against its
wings  or (ii) a rotorcraft that, for its horizontal motion, depends principally
on  its  engine-driven  rotors, and shall include any item which is incorporated
in,  attached  to  or specifically acquired by any Co-Obligor to be used only in
connection  with  a  specific  aircraft.

     "AIRCRAFT  INDEBTEDNESS"  shall  mean  Indebtedness incurred to finance the
purchase,  lease  or  maintenance  of  Aircraft.

     "ARCH"  shall  have  the meaning specified in the introductory paragraph of
this  Agreement.

     "AUTHORIZATIONS"  shall  mean  all  filings  and  all  licenses,  permits,
consents, approvals, authorizations and qualifications required under applicable
federal,  state or local law, or agencies or departments thereof, and any orders
of  any  federal,  state or local governmental authorities or quasi-governmental
authorities  necessary  for  any  Credit Party to carry on its business as it is
currently  conducted  or  proposed  to  be  conducted.

     "BANKS"  shall mean the lending institutions from time to time party to the
Senior  Credit  Agreement  and  named  as  "Lenders"  therein.

                                      54.
<PAGE>
     "BANKRUPTCY  LAW"  shall  have  the  meaning  specified  in clause (vii) of
paragraph  8A.

     "BLOCKAGE  PERIOD"  shall  have  the  meaning specified in paragraph 5A(4).

     "CAPITAL LEASE" of any Person shall mean any lease of any property (whether
real,  personal  or  mixed)  by  that Person as lessee which, in conformity with
GAAP,  is, or is required to be, accounted for as a capital lease on the balance
sheet  of  that Person, together with any renewals of such leases (or entry into
new  leases)  on  substantially  similar  terms.

     "CAPITALIZED  LEASE  OBLIGATIONS"  of any Person shall mean all obligations
under  Capital  Leases  of  such  Person or any of its Subsidiaries in each case
taken at the amount thereof accounted for as liabilities on the balance sheet in
accordance  with  GAAP.

     "CHARGES"  shall  mean  all  taxes, charges, fees, imposts, levies or other
assessments, including all net income, gross income, gross receipts, sales, use,
ad valorem, value added, transfer, franchise, profits, inventory, capital stock,
license,  withholding,  payroll,  employment,  social  security,  unemployment,
excise,  severance,  stamp,  occupation and property taxes, custom duties, fees,
assessments, Liens, claims and charges of any kind whatsoever, together with any
interest  and  any penalties, additions to tax or additional amounts, imposed by
any  taxing  or  other authority, domestic or foreign (including the PBGC or any
environmental  agency  or  superfund),  upon  any  Co-Obligor  or  any  of  its
Subsidiaries.

     "CHANGE  IN  CONTROL"  shall  mean the occurrence of an event, or series of
events,  which has led to (i) any "person" or "group" (as such terms are used in
sections  13(d)  and  14(d) of the Exchange Act) becoming the "beneficial owner"
(as  defined  in  Rules  13d-3  and  13d-5  under the Exchange Act), directly or
indirectly, of capital stock of Air Methods representing 40% or more, on a fully
diluted  basis,  of  the  economic  or  voting  interest of the then outstanding
capital  stock  of  Air  Methods,  (ii) during any period commencing on or after
October 16, 2002, individuals who at the beginning of such period were directors
of  Air  Methods,  together  with  such  directors as have been duly approved by
individuals  who were directors at the beginning of such period (or by directors
duly  approved  by them), ceasing for any reason to constitute a majority of the
board  of  directors of Air Methods, (iii) any "Change of Control" (as such term
is  defined  in the Senior Credit Agreement), (iv) any Person or Persons who are

                                      55.
<PAGE>
not  "citizens"  of  the  United  States  (as such term is defined in 14 Code of
Federal  Regulations  Section  204.2,  as  the  same  may  be amended) owning or
controlling  20%  or  more, in the aggregate, of the voting capital stock of Air
Methods  or  (v) Air Methods or any of its Affiliates that holds any air carrier
certificate(s)  issued  by the U.S. Department of Transportation ceasing to be a
"citizen"  of  the  United States (as such term is defined in 14 Code of Federal
Regulations  Section  204.2,  as  the  same  may  be  amended).

     "CLOSING"  shall mean the time as of which each of the conditions precedent
set  forth  in  paragraph  3  hereto has been satisfied or waived by Purchasers.

     "CLOSING  DAY"  shall  have  the  meaning  specified  in  paragraph  2A.

     "CODE"  shall  mean  the  Internal  Revenue  Code  of  1986,  as  amended.

     "COMMON  STOCK"  shall  have  the  meaning  specified  in  paragraph  1C.

     "CONSOLIDATED"  shall  mean  the  resultant  consolidation of the financial
statements  of  Air  Methods  and  its  Subsidiaries  in  accordance  with GAAP,
including  principles  of  consolidation  consistent  with  those  applied  in
preparation  of the consolidated financial statements of Air Methods referred to
in  paragraph  9B.

     "CONSOLIDATED EBITDA" shall mean, for the four fiscal quarter period ending
on  any  date  of  determination  (or  if  such  date is not the end of a fiscal
quarter,  then the four fiscal quarter period most recently ended), Consolidated
Net  Income  plus, to the extent deducted in the calculation of Consolidated Net
Income,  (i)  Consolidated  Interest  Expense,  (ii)  Consolidated  depreciation
expense  and  Consolidated  amortization  expense  of  Air  Methods  and  (iii)
Consolidated  income  tax  expense  of  Air  Methods.

     "CONSOLIDATED  FIXED  CHARGE  COVERAGE  RATIO"  shall  mean, at any time of
determination,  the  ratio  of  (i)  Consolidated  EBITDA  at  such  time  minus
Unfinanced  Capital  Expenditures for the four fiscal quarter period immediately
preceding  such  time of determination minus income taxes of Air Methods and its
Subsidiaries  actually  paid  for  the  four  fiscal  quarter period immediately
preceding  such time of determination, to (ii) all Senior Debt Payments plus all
Subordinated  Debt  Payments  for  the  four  fiscal  quarter period immediately
preceding  such  time  of  determination.

                                      56.
<PAGE>
     "CONSOLIDATED  INTEREST  EXPENSE"  shall mean, for any period, all interest
expense on the Notes and other Indebtedness of Air Methods and its Subsidiaries,
including  all commissions, discounts or related amortization and other fees and
charges  with respect to letters of credit and bankers' acceptance financing and
the  net costs associated with interest rate swap, cap and similar arrangements,
amortization  of  debt  expense  and  original  issue  discount and the interest
portion  of  any  deferred  payment  obligation (including leases of all types),
calculated  in  accordance  with  the  effective  interest  method.

     "CONSOLIDATED  NET INCOME" shall mean, for any period, the Consolidated net
income  (or loss) of Air Methods as determined in accordance with GAAP, provided
that  there  shall  be  excluded:

          (i)  extraordinary  gains  and  losses;

          (ii)  the  income (or loss) of any Person accrued prior to the date it
becomes  a  Subsidiary  or  is merged into or consolidated with Air Methods or a
Subsidiary,  and  the  income  (or loss) of any Person, substantially all of the
assets  of which have been acquired in any manner, realized by such other Person
prior  to  the  date  of  Acquisition;

          (iii)  the income (or loss) of any Person (other than a Subsidiary) in
which  Air  Methods  or  any Subsidiary has an ownership interest, except to the
extent  that  any  such income has been actually received by Air Methods or such
Subsidiary  in  the  form  of  cash  dividends  or  similar  cash distributions;

          (iv)  the  undistributed earnings of any Subsidiary to the extent that
the  declaration  or  payment  of  dividends  or  similar  distributions by such
Subsidiary  is  not  at  the  time  permitted by the terms of its charter or any
agreement,  instrument,  judgment,  decree, order, statute, rule or governmental
regulation  applicable  to  such  Subsidiary;

          (v)  any  restoration  to income of any contingency reserve, except to
the extent that provision for such reserve was made out of income accrued during
such  period;

          (vi)  any  aggregate  net gain or loss during such period arising from
the sale, conversion, exchange or other disposition of capital assets (such term
to  include  (a)  all  non-current  assets  and  (b)  without  duplication,  the
following,  whether  or  not  current:  all  fixed  assets,  whether tangible or
intangible,  all  inventory  sold  in  conjunction with the disposition of fixed
assets,  and  all  securities);

                                      57.
<PAGE>
          (vii)  any  gains  resulting  from any write-up of any assets (but not
any  loss  resulting  from  any  write-down  of  any  assets);

          (viii)  any  net  gain  from  the  collection  of the proceeds of life
insurance  policies;

          (ix)  any  gain  or loss arising from the acquisition of any security,
or  the  extinguishment,  under GAAP, of any Indebtedness, of Air Methods or any
Subsidiary;

          (x)  any  net  income  or  gain  during  such  period  from  (a)  any
restatement  of  the  Consolidated  financial  statements of Air Methods and its
Subsidiaries  pursuant  to  a change in accounting principles in accordance with
GAAP,  (b)  any prior period adjustments resulting from any change in accounting
principles  in  accordance  with  GAAP or (c) any discontinued operations or the
disposition  thereof;

          (xi)  any  deferred  credit  representing  the excess of equity in any
Subsidiary  at  the  date of acquisition over the cost of the investment in such
Subsidiary;  and

          (xii)  any  portion of such net income that cannot be freely converted
into  United  States  Dollars.

     "CONSOLIDATED  NET  WORTH"  shall  mean,  at  any  date  of  determination,
Consolidated  shareholders'  equity  of  Air  Methods.

     "CONSOLIDATED  SENIOR  DEBT"  shall  mean,  at  any  time of determination,
Consolidated  Total  Debt  less  the principal amount of Notes then outstanding.

     "CONSOLIDATED TOTAL DEBT" shall mean, at any time of determination, without
duplication,  the  aggregate principal amount of all Indebtedness of Air Methods
and its Subsidiaries then outstanding, excluding Indebtedness of a Subsidiary to
Air  Methods  or  another  Subsidiary  or  of  Air  Methods  to  a  Subsidiary.

     "CREDIT  PARTY"  shall  mean,  at  any  time  of determination,  any of the
Co-Obligors  and  each  Subsidiary thereof that shall become obligated under the
Multiparty  Guaranty  pursuant  to the requirements of paragraph 6N, and "CREDIT
PARTIES"  shall  mean  all  of  such  Persons  collectively.

                                      58.
<PAGE>
     "DEFAULT  SUBORDINATION  NOTICE"  shall  have  the  meaning  specified  in
paragraph  5A(4).

     "ENVIRONMENTAL  LAWS" shall mean all federal, state, local and foreign laws
relating  to  pollution,  including  laws  relating  to  emissions,  discharges,
releases  or  threatened  releases  of  pollutants,  contaminants, chemicals, or
industrial,  toxic  or  hazardous  substances  or  wastes  into  the environment
(including  ambient  air,  surface  water,  ground  water or land), or otherwise
relating  to the manufacture, processing, distribution, use, treatment, storage,
disposal,  transport,  or  handling  of  pollutants, contaminants, chemicals, or
industrial,  toxic  or  hazardous  substances  or  wastes,  and  any  and  all
regulations,  codes,  plans, orders, decrees, judgments, injunctions, notices or
demand  letters  issued,  entered,  promulgated  or  approved  thereunder.

     "EQUIPMENT"  shall  mean  and  include,  as to each Co-Obligor, all of such
Co-Obligor's  goods  (other  than  inventory)  whether  now  owned  or hereafter
acquired  and  wherever  located  including,  without limitation, all equipment,
machinery,  apparatus,  motor  vehicles,  fittings,  furniture,  furnishings,
fixtures, parts, accessories, "appliances" as defined in Section 40102(a)(11) of
Title  49  of  the  United  States  Code and "spare parts" as defined in Section
40102(a)(38)  of  Title 49 of the United States Code, which appliances and spare
parts  are  being  maintained  by  the  Co-Obligors,  and  all  replacements and
substitutions  therefor  or  accessions  thereto.

     "ERISA"  shall mean the Employee Retirement Income Security Act of 1974, as
amended.

     "ERISA  AFFILIATE" shall mean any corporation which is a member of the same
controlled  group  of  corporations  as the Credit Parties within the meaning of
section  414(b)  of  the  Code,  or  any trade or business which is under common
control  with any Credit Party within the meaning of section 414(c) of the Code.

     "EVENT  OF DEFAULT" shall mean any of the events specified in paragraph 8A,
provided  that  there has been satisfied any requirement in connection with such
event  for  the  giving of notice, or the lapse of time, or the happening of any
further  condition,  event  or act, and "DEFAULT" shall mean any of such events,
whether  or  not  any  such  requirement  has  been  satisfied.

     "EXCHANGE  ACT" shall mean the Securities Exchange Act of 1934, as amended.

                                      59.
<PAGE>
     "FINANCED  CAPITAL EXPENDITURES" shall mean capital expenditures (including
Capital  Leases)  made  with  (i)  the proceeds of Aircraft Indebtedness or (ii)
Indebtedness (other than Indebtedness under the Senior Credit Facility) to third
parties  secured  by  Permitted  Liens  as  provided for in clause (vii) of such
definition.

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

     "GOOD FAITH CONTEST" shall mean an active challenge or contest initiated in
good  faith  by  appropriate  proceedings  for which adequate reserves have been
established  in  accordance  with  GAAP.

     "GOVERNMENTAL BODY" shall mean any nation or government, including federal,
state or local or other political subdivision thereof, including departments and
agencies  or  any  other  board,  division  or  entity  exercising  legislative,
judicial,  regulatory  or  administrative  functions.

     "GUARANTEE"  shall mean, with respect to any Person, any direct or indirect
liability,  contingent  or  otherwise,  of  such  Person  with  respect  to  any
Indebtedness, lease, dividend or other obligation of another, including any such
obligation  directly  or  indirectly  guaranteed,  endorsed  (otherwise than for
collection  or deposit in the ordinary course of business) or discounted or sold
with  recourse  by  such Person, or in respect of which such Person is otherwise
directly  or  indirectly  liable,  including  any  such  obligation  in  effect
guaranteed by such Person through any agreement (contingent or otherwise) to (i)
maintain  the  solvency  or  any  balance  sheet or other financial condition of
another  Person  or (ii) make payment for any products, materials or supplies or
for  any  transportation  or  services  regardless  of  the  non-delivery  or
non-furnishing  thereof,  in  any  such  case  if  the purpose or effect of such
agreement  is  to  provide  assurance  that  such  obligation  will  be  paid or
discharged,  or  that  any agreements relating thereto will be complied with, or
that  the  holders  of such obligation will be protected against loss in respect
thereof. Guarantees shall include obligations of partnerships and joint ventures
of  which such Person is a general partner or co-venturer that are not expressly
non-recourse  to  such  Person.

     "GUARANTEED OBLIGATIONS" shall have the meaning specified in paragraph 13A.

                                      60.
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     "H.15(519)"  shall  mean the weekly statistical release designated as such,
or any successor publication, published by the Board of Governors of the Federal
Reserve  System.

     "HOSTILE  TENDER  OFFER" shall mean, with respect to the use of proceeds of
any  Note, any offer to purchase, or any purchase of, shares of capital stock of
any  corporation  or  equity  interests  in  any  other  entity,  or  securities
convertible  into  or  representing  the  beneficial  ownership of, or rights to
acquire,  any such shares or equity interests, if such shares, equity interests,
securities  or  rights are of a class which is publicly traded on any securities
exchange or in any over-the-counter market, other than purchases of such shares,
equity  interests,  securities or rights representing less than 5% of the equity
interests  or  beneficial  ownership  of  such  corporation  or other entity for
portfolio  investment  purposes,  and  such  offer or purchase has not been duly
approved  by  the  board  of  directors  of  such  corporation or the equivalent
governing  body  of  such  other  entity.

     "IMPLICIT  DISCOUNT  RATE" shall mean the discount rate which, when applied
to  (i)  all  scheduled periodic lease payments through the final possible early
buyout option and (ii) the final buyout option payment, shall discount such cash
flows  to  a  value  equal  to  the original cost of the equipment being leased.

     "INCLUDING"  shall  mean,  unless  the  context clearly requires otherwise,
"including  without  limitation."

     "INDEBTEDNESS"  shall mean, with respect to any Person, without duplication
(i)  indebtedness  for borrowed money (or evidenced by notes payable, borrowings
under  revolving credit facilities, interest that has accrued and become payable
and  the  payment  of  which  has  been satisfied by non-cash consideration, and
drafts  accepted  representing  extensions of credit) payable within one year of
the  date  of  creation  (other  than  ordinary-course trade payables), (ii) any
obligation payable more than one year from the date of creation thereof which in
accordance  with  GAAP  should  be  shown  on  a  balance  sheet  as a liability
(including  Capitalized  Lease  Obligations,  borrowings  under revolving credit
facilities,  interest  that  has  accrued  and become payable and the payment of
which  has  been satisfied by non-cash consideration, but excluding reserves for
deferred  compensation,  deferred  income  taxes  and  post-retirement  benefit
liabilities  in  accordance  with Financial Accounting Standards Board Statement
No.  106),  (iii) indebtedness which is secured by any Lien on property owned by
such  Person,  whether  or  not  the  obligation secured thereby shall have been
assumed,  (iv)  the  face  amount of letters of credit, bankers' acceptances and
other  extensions of credit whether or not representing obligations for borrowed
money,  (v)  the  net  amount  of  all  obligations  with respect to Swaps, (vi)
redemption  or  repurchase obligations with respect to mandatorily redeemable or

                                      61.
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repurchasable  capital  stock  (or  other  equity interests) which is subject to
repurchase  at  the  option of the holder thereof, (vii) all obligations for the
deferred  purchase  price  of  property  or  services (other than trade or other
accounts  payable  in  the  ordinary course of business), (viii) any unamortized
discount  associated  with  the  issuance  of  any  Indebtedness,  and  (ix) all
obligations  with  respect  to  which  such Person has become liable by way of a
Guarantee.

     "INSOLVENCY  PROCEEDING"  shall  have  the  meaning  specified in paragraph
5A(1).

     "INSTITUTIONAL INVESTOR" shall mean an insurance company, bank, savings and
loan  association,  finance  company,  mutual  fund,  registered  money manager,
pension  fund, investment company, "qualified institutional buyer" (as such term
is  defined  under  Rule  144A  promulgated  under  the  Securities  Act, or any
successor  law,  rule  or  regulation) or "accredited investor" (as such term is
defined  under  Regulation  D  promulgated  under  the  Securities  Act,  or any
successor  law,  rule  or  regulation).

     "LIEN"  shall  mean  any  mortgage,  deed  of trust, pledge, hypothecation,
assignment,  security  interest, set-off, lien (whether statutory or otherwise),
Charge,  claim  or  encumbrance,  or  preference,  priority  or  other  security
agreement  or  preferential arrangement held or asserted in respect of any asset
of  any kind or nature whatsoever including, without limitation, any conditional
sale or other title retention agreement, any lease having substantially the same
economic  effect  as the foregoing, and the filing of, or agreement to give, any
financing  statement  under the Uniform Commercial Code or comparable law of any
jurisdiction.

     "LIQUIDITY  EVENT"  shall mean an arm's-length sale in a single transaction
to  a  Person  other than an Affiliate of Air Methods or its Subsidiaries of (a)
all or substantially all of Air Methods' (i) equity securities (including all of
the  Warrants and the Warrant Shares), or a merger transaction that has the same
effect,  or (ii) assets and the concurrent distribution to the holder or holders
of  the  Warrants  and  the  Warrant  Shares  of their pro rata share of the net
proceeds  from  such sale, or (b) all of the Warrants and/or Warrant Shares in a

                                      62.
<PAGE>
private  placement  transaction  pursuant  to an exemption from the registration
requirements  of  the  Securities  Act  and  an exemption under applicable state
securities  laws  or  pursuant  to  a  registration  statement  filed  under the
Securities  Act.

     "MATERIAL  ADVERSE  EFFECT" shall mean (i) a material adverse effect on the
business,  assets,  liabilities,  operations,  property,  prospects or condition
(financial  or otherwise) of the Credit Parties and their Subsidiaries, taken as
a  whole, (ii) material impairment of the Credit Parties' ability to perform any
of  their  obligations  under  the  Transaction  Documents  or  (iii)  material
impairment  of  the  validity  or enforceability of this Agreement or any of the
other  Transaction  Documents  or the rights and remedies of, Purchasers, or the
holders  of  any  of  the  Notes.

     "MEMBERSHIP  PURCHASE  AGREEMENT"  shall  have  the  meaning  specified  in
paragraph  1A.

     "MERCY"  shall  have the meaning specified in the introductory paragraph of
this  Agreement.

     "MULTIEMPLOYER  PLAN"  shall  mean any Plan which is a "multiemployer plan"
(as  such  term  is  defined  in  section  4001(a)(3)  of  ERISA).

     "MULTIPARTY  GUARANTY"  shall  have  the meaning specified in paragraph 6N.

     "NOTE"  and  "NOTES"  shall  have  the  meaning  specified in paragraph 1B.

     "OFFICER'S  CERTIFICATE"  shall  mean a certificate signed in the name of a
Credit  Party  by  a  Responsible  Officer  of  such  Credit  Party.

     "PBGC"  shall  mean  the  Pension  Benefit  Guaranty  Corporation  and  any
successor  thereto.

     "PERMITTED LIEN" shall mean (i) Liens in favor of the Agent for the benefit
of the Agent and the holders of Senior Debt, up to the amount of the Senior Debt
Cap,  (ii)  Liens  for  taxes,  assessments  or  other  governmental charges not
delinquent  or  being contested in good faith and by appropriate proceedings and
with  respect to which proper reserves have been taken by the Co-Obligors, (iii)
Liens  disclosed  on  Schedule  7C(1) hereto, (iv) deposits or pledges to secure
obligations  under  worker's  compensation,  social security or similar laws, or
under  unemployment  insurance, (v) deposits or pledges to secure bids, tenders,

                                      63.
<PAGE>
contracts  (other  than  contracts  for the payment of money), leases, statutory
obligations,  surety  and  appeal  bonds  and  other  obligations of like nature
arising in the ordinary course of any Co-Obligor's business, (vi) judgment Liens
that  have  been stayed or bonded and that do not constitute an Event of Default
and  mechanics',  workers',  materialmen's  or  other  like Liens arising in the
ordinary  course  of any Co-Obligor's business with respect to obligations which
are  not  due  or  which  are  being  contested  in good faith by the applicable
Co-Obligor,  (vii) Liens placed upon fixed assets hereafter acquired to secure a
portion of the purchase price thereof, provided that (a) any such Lien shall not
encumber  any other property of the Co-Obligors or their respective Subsidiaries
and (b) the aggregate amount of Indebtedness secured by such Liens incurred as a
result  of  such  purchases  during  any fiscal year shall not exceed the amount
provided  for  in  paragraph  7A(6), (viii) statutory landlord's Liens to secure
payment  of  rent,  (ix)  Liens  on Aircraft securing Aircraft Indebtedness, (x)
Liens  on  assets acquired in a transaction permitted under paragraph 7B(1)(iii)
and  (xi)  mortgages  on  the Co-Obligors' facilities in Provo, Utah, St. Louis,
Missouri  and  Sparta, Illinois provided that such mortgages do not encumber any
more  property  than  is covered by the mortgages that are being released on the
Closing  Day  with  respect  to  such  facilities  and provided further that the
Indebtedness  secured by such mortgages does not subject any Co-Obligor or their
Subsidiaries  to  any  financial  covenants.

     "PERSON"  shall  mean  and include (i) an individual, (ii) a partnership, a
joint  venture,  a  corporation,  a  limited  liability  company,  a  trust,  an
unincorporated  organization  or  any similar type of entity organized under the
laws  of any foreign country, and (iii) a government or any department or agency
thereof.

     "PLAN"  shall  mean  any  "employee  pension benefit plan" (as such term is
defined  in  section 3 of ERISA) which is or has been established or maintained,
or  to  which contributions are or have been made, by any Credit Party or by any
trade  or business, whether or not incorporated which, together with such Credit
Party,  is  under  common  control, as described in section 414(b) or (c) of the
Code.

     "PURCHASERS" shall mean, both individually and collectively, PCP and PCPMF.

     "QUALIFIED  FPO"  shall  mean  (i)  a  follow-on  public offering of equity
securities  of  Air Methods by a nationally recognized underwriter pursuant to a
registration  statement  filed under the Securities Act with net proceeds to Air

                                      64.
<PAGE>
Methods of at least $10,000,000 or (ii) a private placement of equity securities
of  Air  Methods  pursuant to an exemption from the registration requirements of
the Securities Act and an exemption under applicable state securities laws, with
net  proceeds  to Air Methods of an amount at least equal to the total principal
amount  of  Notes  to  be  prepaid  (and  accrued  and unpaid interest thereon);
provided  that such a private placement shall constitute a Qualified FPO if, and
only  if,  at  the time of the consummation thereof, PCP or PCPMF (including any
Affiliate  thereof  to  whom  the  Warrants  or  the  Warrant  Shares  have been
transferred but excluding other assigns) have sold or transferred an interest in
the  Warrants  and/or Warrant Shares to Persons other than their Affiliates and,
as  a  result  of  such  sales or transfers, at such time the Warrant Shares (as
adjusted  pursuant  to  the  terms thereof) held by PCP and PCPMF (including any
Affiliate  thereof  to  whom  the  Warrants  or  the  Warrant  Shares  have been
transferred  but  excluding  other assigns) and the number of Warrant Shares for
which  any  unexercised  portion  of  the  Warrants  held  by  such  Persons are
exercisable are less than 50% of the total number of Warrant Shares (as adjusted
pursuant  to  the  terms  thereof)  subject to the Warrants on the Closing Date.

     "REFINANCING  DEBT"  shall  mean  all  indebtedness,  liabilities and other
obligations,  and  all  related commitments, of the Co-Obligors to any financial
institution  created  under,  arising  out  of  or in connection with any credit
agreement,  note  purchase  agreement  or  other  related  credit  document, the
proceeds  of  which  have  been  used for the final repayment in its entirety of
Senior Debt, including costs associated therewith, provided that all commitments
                                                   --------
with  respect  to  the  Senior Debt have been terminated in connection with such
repayment.

     "REQUIRED  HOLDER(S)"  shall  mean  the  holder(s) of at least 50.1% of the
aggregate  principal  amount  of  Notes  from  time  to  time  outstanding.

     "RESPONSIBLE OFFICER" of an entity shall mean the chairman, chief executive
officer,  chief  financial  officer  or  treasurer  of  such entity or any other
officer  of  such entity involved principally in its financial administration or
its  controllership  function.

     "RMH"  shall  have  the  meaning specified in the introductory paragraph of
this  Agreement.

     "RMH  ACQUISITION"  shall  have  the  meaning  specified  in  paragraph 1A.

                                      65.
<PAGE>
     "SECURITIES"  shall have the meaning set forth in the flush language at the
end  of  paragraph  1C.

     "SECURITIES  ACT"  shall  mean  the  Securities  Act  of  1933, as amended.

     "SELLERS" shall have the meaning specified in paragraph 1A.

     "SENIOR  CREDIT  AGREEMENT"  shall  mean  the Revolving Credit and Security
Agreement,  dated as of the date hereof, by and among the Co-Obligors, the Banks
and  the Agent, and all schedules and exhibits thereto, as the same from time to
time  may  be  amended,  restated,  supplemented  or  otherwise  modified.

     "SENIOR CREDIT DOCUMENTS" shall mean the Senior Credit Agreement, all notes
evidencing  Indebtedness  created thereunder and each security agreement, pledge
agreement,  deed  of  trust  or  mortgage or other agreement pursuant to which a
security  interest  or  Lien  is  created and all other agreements, instruments,
certificates and documents related thereto, including in each case all schedules
and  exhibits  thereto,  as the same from time to time may be amended, restated,
supplemented  or  otherwise  modified.

     "SENIOR  CREDIT  FACILITY"  shall mean the revolving credit facility in the
stated  original  aggregate commitment amount of $35,000,000 created pursuant to
the  Senior  Credit  Agreement.

     "SENIOR  DEBT"  shall  mean  (i)  all  Indebtedness,  liabilities and other
obligations  of  the  Credit  Parties  created  under and pursuant to the Senior
Credit  Agreement  and  the  other Senior Credit Documents, including all unpaid
principal, reimbursement obligations under letters of credit, accrued and unpaid
interest, expenses, fees, indemnification or other amounts payable by any Credit
Party  to the Banks or the Agent, in each case under the Senior Credit Documents
and  (ii)  Refinancing  Debt;  provided  that in no event shall the principal or
stated  commitment  amount  of  Senior  Debt  exceed  the  Senior  Debt  Cap.

     "SENIOR  DEBT  CAP"  shall  mean  $40,000,000.

     "SENIOR  DEBT  DEFAULT"  shall  mean  (i) any default in the payment of any
principal  of  or  interest  or premium or other prepayment consideration on any
Senior  Debt  when  the same becomes due and payable, or (ii) any other event of
default  under  any  instrument or agreement evidencing or otherwise relating to
the  Senior  Debt  which  would  entitle  the  holders  of  such  Senior Debt to
accelerate  such  Senior  Debt.

                                      66.
<PAGE>
     "SENIOR  DEBT  PAYMENTS"  shall  mean (i) all cash actually expended by Air
Methods  and  its  Subsidiaries  for  interest  payments  (including the imputed
interest  portion  of payments under Capital Leases and installment debt), fees,
expenses,  commissions  and  charges  under  the Senior Credit Documents and any
other  Indebtedness of Air Methods and its Subsidiaries (other than Indebtedness
under  the  Transaction  Documents)  and  (ii)  payments  of  principal  of  all
Indebtedness  other  than Indebtedness under the Senior Credit Documents and the
Transaction  Documents. Senior Debt Payments shall exclude all fees and expenses
paid  to  Agent  or the holders of the Senior Debt on or prior to the closing of
the  Senior  Credit  Facility.

     "SIGNIFICANT HOLDER" shall mean any holder of at least 10% of the aggregate
principal  amount  of  the  Notes  from  time  to  time  outstanding.

     "STANDSTILL  PERIOD"  shall  have the meaning specified in paragraph 5A(5).

     "STOCKHOLDERS' AGREEMENT" shall have the meaning specified in paragraph 3H.

     "SUBORDINATED  DEBT"  shall  mean  (i)  all  unpaid  principal,  the
Yield-Maintenance  Amount,  premium  and other prepayment consideration, if any,
accrued  and  unpaid  interest,  and  fees and expenses under the Notes and this
Agreement and (ii) obligations under the Multiparty Guaranty and paragraph 13 of
this  Agreement  with respect to the obligations described in clause (i) of this
definition.

     "SUBORDINATED  DEBT  PAYMENTS" shall mean (i) all cash actually expended by
Air  Methods  and  its Subsidiaries for interest payments, the Yield-Maintenance
Amount, premiums and other prepayment consideration, fees, expenses, commissions
and  charges  under  the Transaction Documents and (ii) payments of principal of
Indebtedness  under the Transaction Documents.  Subordinated Debt Payments shall
exclude  all  fees and expenses paid to the Purchasers or their Affiliates on or
prior  to  the  Closing  Day.

     "SUBSIDIARY"  shall  mean  any  corporation, partnership, limited liability
company,  all  of the capital stock (or other equity interest) of every class of
which,  except  directors'  qualifying shares (or any equivalent), shall, at the
time as of which any determination is being made, be owned by Air Methods either
directly or through Subsidiaries and of which Air Methods or a Subsidiary of Air
Methods  shall  have  100% control thereof, except directors' qualifying shares.

                                      67.
<PAGE>
     "SWAPS"  shall  mean,  with respect to any Person, payment obligations with
respect  to  interest or currency swaps, caps or similar arrangements obligating
such  Person  to  make payments, whether periodically or upon the happening of a
contingency.  For  the  purposes of this Agreement, the amount of the obligation
under  any  Swap shall be the amount determined in respect thereof as of the end
of  the  then  most  recently  ended fiscal quarter of such Person, based on the
assumption  that such Swap had terminated at the end of such fiscal quarter, and
in  making  such  determination, if any agreement relating to such Swap provides
for  the  netting  of amounts payable by and to such Person thereunder or if any
such  agreement  provides for the simultaneous payment of amounts by and to such
Person,  then  in each such case, the amount of such obligation shall be the net
amount  so  determined.

     "TRANSACTION DOCUMENTS" shall mean this Agreement, the Notes, the Warrants,
the  Multiparty  Guaranty,  the  Stockholders'  Agreement, and any and all other
agreements,  documents,  certificates and instruments from time to time executed
and  delivered  by  or  on behalf of the Co-Obligors related hereto and thereto.

     "TRANSFEREE"  shall  mean  any  direct or indirect transferee of all or any
part  of  any  Security  purchased  under this Agreement; provided that the term
"Transferee"  shall exclude any Person that acquires any Warrant Shares pursuant
to  an  effective  registration  thereof in a transaction on the Nasdaq National
Market  or  any  other  automated  quotation  system  or  securities  exchange.

     "UNFINANCED  CAPITAL EXPENDITURES" shall mean all capital expenditures that
are  not  Financed  Capital  Expenditures.

     "WARRANTS"  shall  have  the  meaning  specified  in  paragraph  1C.

     "WARRANT  SHARES" shall have the meaning specified in the flush language at
the  end  of  paragraph  1C.

     11C.     ACCOUNTING AND LEGAL PRINCIPLES, TERMS AND DETERMINATIONS.  Unless
otherwise  specified  herein,  all  accounting  terms  used  herein  shall  be
interpreted,  all  determinations  with  respect to accounting matters hereunder
shall  be  made,  and  all  unaudited  financial statements and certificates and

                                      68.
<PAGE>
reports  as  to  financial  matters  required to be furnished hereunder shall be
prepared,  in  accordance  with GAAP (without provision of complete footnotes in
the  case of unaudited financial statements), applied on a basis consistent with
the  most  recent  audited  financial statements of Air Methods that Air Methods
delivered pursuant to paragraph 6A(iii) or, if no such financial statements have
been  so  delivered, the most recent audited financial statements referred to in
clause  (i)  of  paragraph  9B.

     12.     MISCELLANEOUS.

     12A.     NOTE  PAYMENTS.  Each  Co-Obligor  agrees  that,  so  long  as any
Purchaser  shall  hold  any  Note,  it  will make payments of principal thereof,
Yield-Maintenance  Amount,  premium  or  other  prepayment  consideration,  and
interest  thereon,  which  comply  with  the  terms  of  this Agreement, by wire
transfer  of  immediately  available  funds  for  credit  to  (i) the account or
accounts  specified  in  the  Information  Schedule attached hereto or (ii) such
other  account or accounts in the United States of America as such Purchaser may
designate  in  writing,  notwithstanding any contrary provision herein or in any
Note  with  respect to the place of payment.  Each Purchaser agrees that, before
disposing  of  any  Note,  it  will  make  a  notation thereon (or on a schedule
attached  thereto)  of all principal payments previously made thereon and of the
date  to  which interest thereon has been paid.  The Co-Obligors agree to afford
the  benefits  of this paragraph 12A to any Transferee which shall have made the
same  agreement  as  the  Purchasers  have  made  in  this  paragraph  12A.

     12B.     EXPENSES.  Each Co-Obligor agrees, whether or not the transactions
hereby  contemplated  shall  be consummated, to pay, and save each Purchaser and
any  Transferee harmless against liability for the payment of, all out-of-pocket
expenses  arising  in connection with such transactions, including:  (i) (A) all
stamp  and  documentary  taxes  and  similar  charges,  (B) costs of obtaining a
private  placement  number  for  the  Securities  and  (C)  fees and expenses of
brokers,  agents, dealers, investment banks or other intermediaries or placement
agents,  in  each case that were engaged by any Person other than the Purchasers
as  a  result  of  the  execution  and  delivery of this Agreement and the other
Transaction  Documents  and  the  issuance  of  the  Securities;  (ii)  document
production  and  duplication charges and the fees and expenses of any special or
local counsel engaged by any Purchaser or any Transferee in connection with this
Agreement  and  the  other  Transaction Documents, the transactions contemplated
hereby  and  thereby  and  any proposed waiver, amendment or modification of, or

                                      69.
<PAGE>
proposed  consent  under,  this  Agreement  or  any  other Transaction Document,
whether  or not such proposed modification shall be effected or proposed consent
granted; (iii) the costs and expenses, including attorneys' fees incurred by any
Purchaser  or  any  Transferee  of  any special or local counsel engaged by such
Purchaser  or  such  Transferee  in  enforcing (or determining whether or how to
enforce) any rights under this Agreement and the other Transaction Documents, in
responding  to  any  subpoena  or  other legal process or informal investigative
demand  issued  in  connection  with  this  Agreement  and the other Transaction
Documents  or  the  transactions contemplated hereby and thereby or by reason of
such  Purchaser's  or  such Transferee's having acquired any Security, including
costs  and  expenses  incurred  in  any  workout, restructuring or renegotiation
proceeding  or  bankruptcy case; and (iv) any judgment, liability, claim, order,
decree, cost, fee, expense, action or obligation resulting from the consummation
of  the  transactions  contemplated  by  this Agreement or the other Transaction
Documents,  including  the  use of the proceeds of the Notes by the Co-Obligors.
The  obligations  of  the Co-Obligors under this paragraph 12B shall survive the
transfer  of any Note or portion thereof or interest therein by any Purchaser or
any  Transferee  and  the  payment  of  any  Note.

     12C.     CONSENT  TO  AMENDMENTS.  This  Agreement  may be amended, and the
Co-Obligors  may  take  any action herein prohibited, or omit to perform any act
herein  required  to  be  performed  by them, only if the Co-Obligors shall have
obtained  the  written  consent  (and  not without such written consent) to such
amendment, action or omission to act, of the Required Holder(s), and each holder
of  any Note at the time or thereafter outstanding shall be bound by any consent
authorized  by this paragraph 12C; provided that, without the written consent of
the  holder(s)  of  all  Notes at the time outstanding, no consent, amendment or
waiver  to or under this Agreement shall (i) change the maturity of any Note, or
(ii)  change  or  affect  the  principal  amount of any Note, or (iii) change or
affect  the  rate  or  time  of  payment of interest on or any Yield-Maintenance
Amount,  premium  or  other prepayment consideration payable with respect to any
Notes  or (iv) affect the time, amount or allocation of any required or optional
prepayments,  or  (v) change or affect the provisions of this paragraph 12C.  No
course  of  dealing  between  the Co-Obligors and the holder of any Note nor any
delay  in  exercising  any rights hereunder or under any Note shall operate as a
waiver  of  any  rights  of  any holder of such Note.  As used herein and in the
Notes,  the  term  "this  Agreement"  and  references  thereto  shall  mean this
Agreement  as  it  may  from  time to time be amended, restated, supplemented or
otherwise  modified.

                                      70.
<PAGE>
     12D.     FORM,  REGISTRATION,  TRANSFER  AND EXCHANGE OF NOTES; LOST NOTES;
TRANSFER LIMITATION.  The Notes are issuable as registered notes without coupons
in  denominations  of  at  least  $1,000,000,  except as may be necessary to (i)
reflect  any  principal amount not evenly divisible by $1,000,000 or (ii) enable
the  registration  of  transfer by a holder of its entire holding of Notes.  Air
Methods,  on  behalf  of  the  Co-Obligors, shall keep at its principal office a
register in which Air Methods shall provide for the registration of Notes and of
transfers  of Notes.  Upon surrender for registration of transfer of any Note at
the  principal  office  of Air Methods, the Co-Obligors shall, at their expense,
execute  and deliver one or more new Notes of like tenor and of a like aggregate
principal  amount, registered in the name of such Transferee or Transferees.  At
the option of the holder of any Note, such Note may be exchanged for other Notes
of like tenor and of any authorized denominations, of a like aggregate principal
amount,  upon  surrender  of the Note to be exchanged at the principal office of
Air  Methods,  on  behalf  of  the  Co-Obligors.  Whenever  any  Notes  are  so
surrendered  for  exchange, the Co-Obligors shall, at their expense, execute and
deliver  the  Notes which the holder making the exchange is entitled to receive.
Every  Note  surrendered  for registration of transfer or exchange shall be duly
endorsed,  or  be accompanied by a written instrument of transfer duly executed,
by the holder of such Note or such holder's attorney duly authorized in writing.
Any Note or Notes issued in exchange for any Note or upon transfer thereof shall
carry the rights to unpaid interest and interest to accrue which were carried by
the  Note so exchanged or transferred, so that neither gain nor loss of interest
shall result from any such transfer or exchange.  Upon receipt of written notice
from  the  holder  of  any Note of the loss, theft, destruction or mutilation of
such  Note and, in the case of any such loss, theft or destruction, upon receipt
of  such  holder's  unsecured  indemnity  agreement,  or in the case of any such
mutilation  upon  surrender  and cancellation of such Note, the Co-Obligors will
make  and  deliver  a  new  Note,  of  like  tenor, in lieu of the lost, stolen,
destroyed  or  mutilated  Note.

     12E.     PERSONS  DEEMED  OWNERS; PARTICIPATIONS.  Prior to due presentment
for registration of transfer, the Co-Obligors may treat the Person in whose name
any  Note  is registered as the owner and holder of such Note for the purpose of
receiving  payment  of  principal  of,  any Yield-Maintenance Amount, premium or

                                      71.
<PAGE>
other  prepayment  consideration  and  interest  on  such Note and for all other
purposes  whatsoever,  whether  or  not  such  Note  shall  be  overdue, and the
Co-Obligors  shall  not  be  affected by notice to the contrary.  Subject to the
preceding  sentence,  the  holder  of  any  Note  may  from  time  to time grant
participations  in  all or any part of such Note to any Person on such terms and
conditions  as  may  be  determined  by  such  holder  in  its sole and absolute
discretion.

     12F.     SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.  All
representations  and  warranties  contained  herein  or in any other Transaction
Document  or  made  in writing by or on behalf of any Credit Party in connection
herewith  or  any  other  Transaction  Document  shall survive the execution and
delivery  of this Agreement and the other Transaction Documents, the transfer by
any  Purchaser  of  any  Security or portion thereof or interest therein and the
payment of any Note, and may be relied upon by any Transferee, regardless of any
investigation  made  at  any  time  by  or  on  behalf  of  any Purchaser or any
Transferee.  Subject to the first sentence of this paragraph, this Agreement and
the  other  Transaction  Documents embody the entire agreement and understanding
between  the  parties  hereto  with  respect  to  the  subject matter hereof and
supersede all prior agreements and understandings relating to the subject matter
hereof.

     12G.     SUCCESSORS  AND  ASSIGNS.  All  covenants  and other agreements in
this  Agreement and the other Transaction Documents contained by or on behalf of
any  of the parties hereto shall bind and inure to the benefit of the respective
successors  and assigns of the parties hereto (including any Transferee) whether
so expressed or not; provided that none of the Co-Obligors may assign its rights
or  obligations  hereunder  to  any  Person.

     12H.     NOTICES.  All  written communications provided for hereunder shall
be  sent  by  first  class  mail  or nationwide overnight delivery service (with
charges prepaid) and (i) if to a Purchaser of a Note, addressed as specified for
such communications in the Information Schedule attached hereto or at such other
address  as  such  Purchaser shall have specified to the Co-Obligors in writing,
(ii)  if to any other holder of any Note, addressed to such other holder at such
address  as such other holder shall have specified to the Co-Obligors in writing
or,  if  any  such  other  holder  shall not have so specified an address to the
Co-Obligors,  then  addressed to such other holder in care of the last holder of
such Note which shall have so specified an address to the Co-Obligors, and (iii)
if  to  the  Co-Obligors,  addressed  to  Air  Methods, on behalf of each of the
Co-Obligors,  at:

                                      72.
<PAGE>
     7301  South  Peoria
     Englewood,  Colorado  80112
     Telecopy: (303) 790-7400
     Attention:  President

     with  copies  to:

     Davis,  Graham  &  Stubbs  LLP
     1550  Seventeenth  Street,  Suite  500
     Denver, CO 80202
     Telecopy No. (303) 893-1379
     Attention:  Lester  R.  Woodward,  Esq.

     or  at  such  other  address  as  Air  Methods,  on  behalf  of each of the
Co-Obligors,  shall  have  specified  to  the  holder  of  each Note in writing;
provided  that  any  such  communication  to  Air  Methods,  on  behalf  of  the
Co-Obligors,  may also, at the option of the holder of any Note, be delivered by
any  other  means  either  to  Air Methods, on behalf of the Co-Obligors, at its
address  specified  above.

Notwithstanding  anything to the contrary contained herein, so long as Notes are
held  by  PCP  in addition to Affiliate(s) of PCP, any written communications or
delivery  of  items  required hereunder to be delivered to Persons including PCP
and such Affiliate(s), may be made in the manner set forth herein, at the option
of  the  Co-Obligors,  to PCP, on behalf of such Affiliate(s), at the address of
PCP  set  forth  on  the  Information  Schedule  attached  hereto.

     12I.     DESCRIPTIVE  HEADINGS.  The  descriptive  headings  of the several
paragraphs  of  this  Agreement  are  inserted  for  convenience only and do not
constitute  a  part  of  this  Agreement.

     12J.     SATISFACTION  REQUIREMENT.  If any agreement, certificate or other
writing,  or  any action taken or to be taken, is by the terms of this Agreement
required  to be satisfactory to the Purchasers or to the Required Holder(s), the
determination  of  such  satisfaction  shall  be  made  by the Purchasers or the
Required  Holder(s),  as  the  case  may  be, in the judgment (exercised in good
faith)  of  the  Person  or  Persons  making  such  determination.

     12K.     PAYMENTS  DUE ON NON-BUSINESS DAYS.  Anything in this Agreement or
the  Notes  to  the  contrary  notwithstanding,  any  payment of principal of or
interest  on  any  Note that is due on a date other than a Business Day shall be
made  on  the  next  succeeding  Business  Day.  If  the date for any payment is

                                      73.
<PAGE>
extended  to  the  next  succeeding  Business  Day  by  reason  of the preceding
sentence,  the period of such extension shall not be included in the computation
of  the  interest  payable  on  such  Business  Day.

     12L.     GOVERNING  LAW.  THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE  WITH,  AND  THE  RIGHTS  OF  THE  PARTIES  SHALL BE GOVERNED BY, THE
INTERNAL  LAW  OF  THE  STATE  OF  NEW  YORK.

     12M.     COUNTERPARTS.  This  Agreement  may  be  executed  in  two or more
counterparts  (or counterpart signature pages), each of which shall be deemed an
original  and  it  shall  not  be necessary in making proof of this Agreement to
produce  or  account  for  more  than  one  such  counterpart.

     12N.     INDEPENDENCE OF COVENANTS.  All covenants hereunder shall be given
independent  effect so that if a particular action or condition is prohibited by
any  one  of such covenants, the fact that it would be permitted by an exception
to,  or  otherwise  be in compliance within the limitations of, another covenant
shall  not  (i)  avoid  the occurrence of an Event of Default or Default if such
action is taken or such condition exists or (ii) in any way prejudice an attempt
by a holder or the holders of the Notes to prohibit (through equitable action or
otherwise)  the  taking of any action by any Co-Obligor which would result in an
Event  of  Default  or  Default.

     12O.     WAIVER  OF  JURY  TRIAL.  THE  CO-OBLIGORS, THE PURCHASERS AND THE
OTHER HOLDERS OF THE SECURITIES AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY
TRIAL  OF  ANY  CLAIM  OR  CAUSE  OF  ACTION  BASED  UPON OR ARISING OUT OF THIS
AGREEMENT, ANY OTHER TRANSACTION DOCUMENT, OR ANY DEALINGS BETWEEN THEM RELATING
TO THE SUBJECT MATTER OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY AND THE
LENDER/BORROWER  RELATIONSHIP  THAT  IS  BEING  ESTABLISHED.  THE  SCOPE OF THIS
WAIVER  IS  INTENDED  TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE
FILED  IN  ANY  COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION,
INCLUDING  CONTRACT  CLAIMS,  TORT  CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER
COMMON  LAW  AND  STATUTORY  CLAIMS.  THE  CO-OBLIGORS, PURCHASERS AND THE OTHER
HOLDERS  OF  THE  SECURITIES  EACH  ACKNOWLEDGE  THAT  THIS WAIVER IS A MATERIAL
INDUCEMENT  TO  ENTER  INTO  THIS  BUSINESS  RELATIONSHIP, THAT EACH HAS ALREADY
RELIED  ON  THE WAIVER IN ENTERING INTO THIS AGREEMENT AND THE OTHER TRANSACTION
DOCUMENTS,  AND  THAT  EACH WILL CONTINUE TO RELY ON THE WAIVER IN THEIR RELATED
FUTURE  DEALINGS.  THE  HOLDERS  OF  THE  SECURITIES AND THE CO-OBLIGORS FURTHER
WARRANT AND REPRESENT THAT EACH HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL,
AND  THAT  EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING
CONSULTATION WITH LEGAL COUNSEL.  IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY
BE  FILED  AS  A  WRITTEN  CONSENT  TO  A  TRIAL  BY  THE  COURT.

                                      74.
<PAGE>
     12P.     BINDING  AGREEMENT.  When this Agreement is executed and delivered
by the Co-Obligors, on the one hand, and Purchasers, on the other hand, it shall
become  a  binding  agreement  between  such  parties.

     12Q.     PERSONAL JURISDICTION.  The Co-Obligors irrevocably agree that any
legal  action  or proceeding with respect to this Agreement, the Securities, the
other  Transaction  Documents or any of the agreements, documents or instruments
delivered  in connection herewith shall be brought in the courts of the State of
California,  the  State  of  New  York,  or the United States of America for the
Northern  District  of  California  or  the  Southern  District  of  New York as
Purchasers  may  elect,  and,  by execution and delivery hereof, the Co-Obligors
accept  and  consent  to,  for  themselves  and  in  respect  of their property,
generally  and  unconditionally,  the  jurisdiction  of the aforesaid courts and
agrees  that  such  jurisdiction  shall  be  exclusive,  unless  waived  by each
Purchaser  in  writing,  with respect to any action or proceeding brought by the
Co-Obligors  against any Purchaser or any holder.  The Co-Obligors hereby waive,
to  the full extent permitted by law, any right to stay or to dismiss any action
or  proceeding  brought before said courts on the basis of forum non conveniens.

     12R.     APPOINTMENT  OF AIR METHODS AS AGENT FOR CO-OBLIGORS.  Each of the
Co-Obligors  hereby  appoints  Air  Methods  as  its  agent  for  the  purposes
contemplated  by  this  Agreement,  including,  for  providing  information,
maintaining  the  register  of  Notes issued hereunder, and giving and receiving
notices,  and  Air  Methods  hereby  accepts  such  appointment.

     12S.     OBLIGATIONS  JOINT  AND  SEVERAL;  EXTENT  OF  OBLIGATIONS.  The
Co-Obligors  are  jointly  and  severally  liable  for  all  obligations  of the
Co-Obligors  hereunder.  Each  Co-Obligor's obligations under this Agreement are
independent,  absolute  and  unconditional.  Each  Co-Obligor,  to  the  extent
permitted  by  law, hereby waives any defense to such obligations that may arise
by  reason  of  the disability or other defense or cessation of liability of any
other  Co-Obligor  for any reason other than full payment and performance.  Each
Co-Obligor  also  waives  deferral  of such obligations arising by reason of the
institution of proceedings by or against another Co-Obligor under or pursuant to
Bankruptcy Law, and waives any defense to such obligations that it may have as a
result  of  any  holder's election of or failure to exercise any right, power or

                                      75.
<PAGE>
remedy,  including the failure to proceed first against such other Co-Obligor or
any  security  it  holds  for  such  other  Co-Obligor's  obligation  under  any
Transaction  Document.  Without  limiting  the generality of the foregoing, each
Co-Obligor  expressly  waives all demands and notices whatsoever and agrees that
the holder or holders of any Notes may, without notice and without releasing the
liability  of  any  Co-Obligor, extend the time for making any payment, waive or
extend the performance of any agreement or make any settlement of any agreement,
and  may proceed against each Co-Obligor directly and independently of any other
Co-Obligor,  as  such  holder  or  holders  may  elect.

     12T.  CONFIDENTIALITY.  For  the  purposes  of  this  paragraph  12T,
"CONFIDENTIAL  INFORMATION"  means information delivered to the Purchasers by or
on behalf of the Co-Obligors in connection with the transactions contemplated by
or  otherwise  pursuant to this Agreement that is proprietary in nature and that
was  clearly  marked or labeled or otherwise adequately identified when received
by the Purchasers as being confidential information of the Co-Obligors, provided
that  such  term  does  not  include  information that (a) was publicly known or
otherwise  known  to  the  Purchasers  prior to the time of such disclosure, (b)
subsequently becomes publicly known through no act or omission by the Purchasers
or  any  Person  acting  on  their  behalf,  (c)  otherwise becomes known to the
Purchasers  other  than through disclosure by the Co-Obligors or (d) constitutes
financial  statements  delivered  to the holders of Notes under paragraph 6 that
are  otherwise  publicly  available.  The  Purchasers  shall  maintain  the
confidentiality  of  such Confidential Information in accordance with procedures
adopted  by  the Purchasers in good faith to protect confidential information of
third  parties  delivered  to  the  Purchasers,  provided that any Purchaser may
deliver  or  disclose  Confidential  Information to (i) its directors, officers,
employees,  agents,  attorneys  and  affiliates, (ii) its financial advisors and
other  professional  advisors  who  agree  to hold confidential the Confidential
Information  substantially  in  accordance with the terms of this paragraph 12T,
(iii)  any  other  Purchaser,  (iv)  any Person to which such Purchaser sells or
offers  to  sell  such Note or any part thereof or any participation therein (if
such  Person  has  agreed  in  writing prior to its receipt of such Confidential
Information to be bound by the provisions of this paragraph 12T), (v) any Person
from which such Purchaser offers to purchase any security of the Co-Obligors (if
such  Person  has  agreed  in  writing prior to its receipt of such Confidential

                                      76.
<PAGE>
Information  to  be  bound  by  the  provisions of this paragraph 12T), (vi) any
federal  or  state  regulatory  authority  having jurisdiction over such holder,
(vii)  the  National  Association  of  Insurance  Commissioners  or  any similar
organization, or any nationally recognized rating agency that requires access to
information  about such holder's investment portfolio or (viii) any other Person
to  which  such  delivery  or  disclosure may be necessary or appropriate (w) to
effect  compliance  with  any  law, rule, regulation or order applicable to such
holder,  (x)  in  response  to  any  subpoena  or  other  legal  process, (y) in
connection  with  any  litigation  to  which such holder is a party or (z) if an
Event  of  Default has occurred and is continuing, to the extent such holder may
reasonably determine such delivery and disclosure to be necessary or appropriate
in  the  enforcement  or for the protection of the rights and remedies under the
Notes  and  this Agreement.  Each holder of a Note, by its acceptance of a Note,
will  be deemed to have agreed to be bound by and to be entitled to the benefits
of  this  paragraph  12T  as  though  it  were  a  party  to this Agreement.  On
reasonable  request  by  the  Co-Obligors in connection with the delivery to any
holder  of  a  Note of information required to be delivered to such holder under
this  Agreement or requested by such holder (other than a holder that is a party
to this Agreement or its nominee), such holder will enter into an agreement with
the  Co-Obligors  embodying  the  provisions  of  this  paragraph  12T.

     13.     GUARANTY.

     13A.     GUARANTY.  Each  of the Co-Obligors hereby acknowledges and agrees
that  it  is  a  primary  obligor  with  respect  to  all obligations under this
Agreement  and  the  Notes,  jointly  and  severally  liable  with  the  other
Co-Obligors.  If,  notwithstanding  the  foregoing, a court should find that any
Co-Obligor is a guarantor or surety with respect to the obligations of the other
Co-Obligors  under  this  Agreement  and  the  Notes,  each  Co-Obligor  hereby
guarantees  to  the  holders  of  the  Notes the prompt payment in full when due
(whether  at  stated  maturity,  by  acceleration,  by  optional  prepayment  or
otherwise)  of  the  principal of, interest on, the Yield-Maintenance Amount, if
any,  any  premium or other prepayment consideration in respect of the Notes and
all  other  amounts  from  time  to  time  owing by the other Co-Obligors to the
holders  of  the Notes under this Agreement, the Notes and the other Transaction
Documents,  in  each  case  strictly  in accordance with the terms thereof (such
obligations  being  herein  collectively  called  the "GUARANTEED OBLIGATIONS").
Each  Co-Obligor  hereby further agrees that if the other Co-Obligors shall fail
to  pay  in  full  when  due  (whether  at  stated maturity, by acceleration, by

                                      77.
<PAGE>
optional  prepayment  or  otherwise)  any of the Guaranteed Obligations, it will
promptly  pay the same, without any demand or notice whatsoever, and that in the
case  of any extension of time of prepayment or renewal of any of the Guaranteed
Obligations,  the  same  will  be  promptly  paid  in  full when due (whether at
extended maturity, by acceleration or otherwise) in accordance with the terms of
such  extension  or  renewal.

     13B.     OBLIGATIONS  UNCONDITIONAL.

          (i)     The obligations of each Co-Obligor hereunder are unconditional
irrespective  of  (i)  the  value,  genuineness,  validity,  regularity  or
enforceability  of  any  of  the  Guaranteed Obligations, (ii) any modification,
amendment  or  variation  in  or  addition to the terms of any of the Guaranteed
Obligations  or any covenants in respect thereof or any security therefor, (iii)
any  extension  of time for performance or waiver of performance of any covenant
of any Co-Obligor or any failure or omission to enforce any right with regard to
any  of the Guaranteed Obligations, (iv) any exchange, surrender, release of any
other  guaranty of or security for any of the Guaranteed Obligations, or (v) any
other circumstance with regard to any of the Guaranteed Obligations which may or
might  in  any  manner constitute a legal or equitable discharge or defense of a
surety  or  guarantor,  it  being the intent hereof that the obligations of each
Co-Obligor  hereunder  shall  be  absolute  and  unconditional under any and all
circumstances.

          (ii)     Each  Co-Obligor  hereby  expressly  waives  diligence,
presentment,  demand,  protest, and all notices whatsoever with regard to any of
the Guaranteed Obligations and any requirement that any holder of a Note exhaust
any  right, power or remedy or proceed against any Co-Obligor hereunder or under
any  Note  or  any  other guarantor of or any security for any of the Guaranteed
Obligations.

     13C.     REINSTATEMENT.  The  guaranty  in  this  paragraph  13  shall  be
automatically reinstated if and to the extent that for any reason any payment by
or  on  behalf  of  any  Co-Obligor  in respect of the Guaranteed Obligations is
rescinded  or  must  be  otherwise  restored  by  any  holder(s)  of  any of the
Guaranteed  Obligations, whether as a result of any proceedings in bankruptcy or
reorganization  or  otherwise.

     13D.     SUBROGATION.  Until  the  payment  in full of the principal of and
interest  on the Notes and all other amounts payable to the holders of the Notes
hereunder  (subject  to paragraph 13C above), each Co-Obligor hereby irrevocably

                                      78.
<PAGE>
waives all rights of subrogation, whether arising by operation of law (including
any such right arising under the Code) or otherwise, by reason of any payment by
it  pursuant  to  the  provisions  of  this  paragraph  13  or  otherwise.

     13E.     RIGHT  OF  CONTRIBUTION;  SUBORDINATION.  The  Co-Obligors  hereby
agree  that  to the extent that a Co-Obligor shall have paid an amount hereunder
or under any other Transaction Document, as applicable, to any of the holders of
Notes  that  is greater than the net value of the benefits received, directly or
indirectly,  by  such  paying Co-Obligor as a result of the issuance and sale of
the  Notes,  such  paying  Co-Obligor shall be entitled to contribution from any
Co-Obligor that has not paid its proportionate share, based on benefits received
as  a  result  of  the  issuance and sale of the Notes.  Any amount payable as a
contribution  under  this  paragraph  13E  shall be determined as of the date on
which  the  related  payment  or  distribution is made by the Co-Obligor seeking
contribution  and  the parties hereto acknowledge that the right to contribution
hereunder  shall  constitute  an  asset  of  such  Co-Obligor  to  which  such
contribution  is  owed.  Notwithstanding  the  foregoing, the provisions of this
paragraph  13E  shall in no respect limit the obligations and liabilities of any
Co-Obligor  to the Purchasers hereunder or under any other Transaction Document,
as  applicable,  and  each  Co-Obligor  shall  remain liable for the full amount
evidenced  by  the  Notes.  Any  Indebtedness or other obligation (including any
obligation  under this paragraph 13E) of any Co-Obligor now or hereafter held by
or  owing  to any Co-Obligor is hereby subordinated in time and right of payment
to  all obligations of the Co-Obligors to the holders of Notes.  Each Co-Obligor
hereby  agrees  that,  concurrent with the initial execution and delivery of the
Multiparty Guaranty by a Subsidiary of a Co-Obligor pursuant to the requirements
of  paragraph  6N, the Co-Obligors will be bound by the terms of Section 1(g) of
the  Multiparty  Guaranty,  which  Section  1(g)  shall thereupon supersede this
paragraph  13E  with  respect  to  each  Credit  Party.

                         [ signature page(s) to follow ]

                                      79.
<PAGE>
                                             Very  truly  yours,

                                             AIR  METHODS  CORPORATION,  a
                                             Delaware  corporation

                                             By:  /s/  George Belsey
                                                --------------------------------

                                             Its:  CEO
                                                 -------------------------------

                                             MERCY  AIR  SERVICE,  INC.,  a
                                             California  corporation

                                             By:  /s/  George Belsey
                                                --------------------------------

                                             Its:  CEO
                                                 -------------------------------

                                             ARCH  AIR  MEDICAL  SERVICE,
                                             INC.,  a  Missouri  corporation

                                             By:  /s/  George Belsey
                                                --------------------------------

                                             Its:  CEO
                                                 -------------------------------

                                             ROCKY  MOUNTAIN  HOLDINGS,
                                             L.L.C.,  a  Delaware  limited
                                             liability  company

                                             By:  /s/  George Belsey
                                                --------------------------------

                                             Its:  CEO
                                                 -------------------------------

<PAGE>
The  foregoing  Agreement  is
hereby  accepted  as  of  the
date  first  above  written.

PRUDENTIAL  CAPITAL  PARTNERS,  L.P.

By:  Prudential Capital Group, L.P., General Partner

By:  /s/  Stephen J. DeMartini, Jr.
   --------------------------------
     Title:  Vice  President

PRUDENTIAL  CAPITAL  PARTNERS  MANAGEMENT  FUND,  L.P.

By:  Prudential Investment Management, Inc., General Partner

By:  /s/  Stephen J. DeMartini, Jr.
   --------------------------------
     Title:  Vice  President

<PAGE>
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

                             AIR METHODS CORPORATION

                        12.00% SENIOR SUBORDINATED NOTES
                              DUE OCTOBER 16, 2007
                         ($23,000,000 Principal Amount)

                                    ISSUED BY
                             AIR METHODS CORPORATION
                             MERCY AIR SERVICE, INC.
                         ARCH AIR MEDICAL SERVICE, INC.
                         ROCKY MOUNTAIN HOLDINGS, L.L.C.

               WARRANT TO PURCHASE 443,224 SHARES OF COMMON STOCK
                                       OF
                             AIR METHODS CORPORATION

                           ===========================
                          SECURITIES PURCHASE AGREEMENT
                                October 16, 2002
                           ===========================

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

<PAGE>
                             EXHIBITS AND SCHEDULES

EXHIBIT  A          --    FORM  OF  SENIOR  SUBORDINATED  NOTE
EXHIBIT  B          --    INFORMATION  SCHEDULE
EXHIBIT  C          --    FUNDING  INSTRUCTION  LETTER
EXHIBIT  D          --    FORM  OF  OPINION  OF  COUNSEL  OF  THE  CO-OBLIGORS
EXHIBIT  E-1        --    FORM  OF  WARRANT
EXHIBIT  E-2        --    FORM  OF  STOCKHOLDERS'  AGREEMENT
EXHIBIT  F          --    FORM  OF  MULTIPARTY  GUARANTY

SCHEDULE  7A(6)     --    EXISTING  INDEBTEDNESS
SCHEDULE  7C(1)     --    EXISTING  LIENS
SCHEDULE  7C(2)     --    EXISTING  INVESTMENTS
SCHEDULE  7G        --    TRANSACTIONS  WITH  AFFILIATES
SCHEDULE  9A(1)     --    SUBSIDIARIES  &  EQUITYHOLDER  INFORMATION
SCHEDULE  9C        --    EXISTING OPTIONS, WARRANTS AND OTHER RIGHTS TO ACQUIRE
EQUITY
SCHEDULE  9D        --    PENDING/THREATENED  LITIGATION
SCHEDULE  9F        --    INSURANCE  OF  CREDIT  PARTIES
SCHEDULE  9I(1)     --    CONSENTS  NOT  OBTAINED
SCHEDULE  9I(2)     --    LIMITATIONS  ON  INCURRENCE  OF  INDEBTEDNESS
SCHEDULE  9Q        --    LOSS  OF  MATERIAL  CUSTOMERS
SCHEDULE 9R         --    PENDING EMPLOYEE CLAIMS; COLLECTIVE BARGAINING
                          AGREEMENTS
SCHEDULE  9U        --    EMPLOYMENT  AGREEMENTS

<PAGE>
                                    EXHIBIT A

                        FORM OF SENIOR SUBORDINATED NOTE

    AIR METHODS CORPORATION, MERCY AIR SERVICE, INC., ARCH AIR MEDICAL SERVICE,
                      INC., ROCKY MOUNTAIN HOLDINGS, L.L.C.

            12.00% SENIOR SUBORDINATED TERM NOTE DUE OCTOBER 16, 2007

No.  _________                                                            [Date]

$_____________

     FOR VALUE RECEIVED, the undersigned, AIR METHODS CORPORATION, a corporation
organized  and existing under the laws of the State of Delaware ("AIR METHODS"),
MERCY  AIR SERVICE, INC., a corporation organized and existing under the laws of
the State of California ("MERCY"), ARCH AIR MEDICAL SERVICE, INC., a corporation
organized  and  existing  under  the laws of the State of Missouri ("ARCH"), and
ROCKY  MOUNTAIN  HOLDINGS,  L.L.C.,  a  limited  liability company organized and
existing  under  the laws of the State of Delaware ("RMH", and together with Air
Methods,  Mercy, Arch, jointly and severally, the "CO-OBLIGORS") hereby, jointly
and severally, promise to pay to ___________________, or registered assigns, the
principal sum of ____________________ DOLLARS on October 16, 2007, with interest
(computed  on  the  basis  of a 360-day year of twelve 30-day months) on (a) the
unpaid  balance of the principal amount at the rate of 12.00% per annum from the
date hereof, payable quarterly on each January 16, April 16, July 16 and October
16,  commencing  with  January  16,  2003, until the principal hereof shall have
become  due  and  payable,  and  (b)  following  the  occurrence  and during the
continuance  of  an  Event  of  Default  (as  defined in the Agreement), payable
quarterly  as  aforesaid  (or, at the option of the registered holder hereof, on
demand),  at  a  rate  per  annum  from time to time equal to the greater of (i)
14.00%  or (ii) 2.0% over the rate of interest publicly announced by The Bank of
New  York  from  time  to  time  in  New  York  City  as  its  prime  rate.

     Payments  of  principal  of,  interest on and any Yield-Maintenance Amount,
premium  or other prepayment consideration payable with respect to this Note are
to  be  made  at  the main office of The Bank of New York in New York City or at
such  other place as the holder hereof shall designate to Air Methods, on behalf
of each Co-Obligor, in writing, in lawful money of the United States of America.

     This  Note  is one of the Notes (herein called the "NOTES") issued pursuant
to  a  Securities  Purchase Agreement, dated as of October 16, 2002 (as amended,
restated,  supplemented  or  otherwise  modified  from  time  to  time,  the

                                      A-1.
<PAGE>
"AGREEMENT"),  between  the Co-Obligors, on the one hand, and Prudential Capital
Partners,  L.P.  and  Prudential  Capital Partners Management Fund, L.P., on the
other  hand,  and  is  entitled  to  the  benefits  thereof.

     This  Note  is  a  registered  Note and, as provided in the Agreement, upon
surrender  of  this  Note  for  registration  of  transfer,  duly  endorsed,  or
accompanied by a written instrument of transfer duly executed, by the registered
holder  hereof  or such holder's attorney duly authorized in writing, a new Note
for  a  like  principal amount will be issued to, and registered in the name of,
the  transferee.  Prior  to  due  presentment  for registration of transfer, the
Co-Obligors  may  treat  the person in whose name this Note is registered as the
owner  hereof  for  the purpose of receiving payment and for all other purposes,
and  the  Co-Obligors  shall  not  be  affected  by  any notice to the contrary.

     This  Note is subordinated to the Senior Debt (as defined in the Agreement)
as  and  to  the  extent  provided  in  the  Agreement.

     This  Note  is  to  be guaranteed by all future Subsidiaries of Air Methods
pursuant  to,  and  is  entitled to the benefits of, the Multiparty Guaranty (as
such  term  is  defined  in  the  Agreement).

     This  Note is subject to optional prepayment, in whole or from time to time
in  part,  on  the  terms  specified  in  the  Agreement.

     In  case  an Event of Default, as defined in the Agreement, shall occur and
be  continuing,  the  principal of this Note may be declared or otherwise become
due  and  payable  in  the manner and with the effect provided in the Agreement.

     This  Note  shall  be  construed  and  enforced in accordance with, and the
rights  of  the  parties shall be governed by, the internal laws of the State of
New  York  without  giving  effect  to  principles  of  conflicts  of  laws.

                     [Remainder of Page Intentionally Blank]

                                      A-2.
<PAGE>
                                             AIR  METHODS  CORPORATION

                                             By:________________________________

                                             Its:_______________________________

                                             MERCY  AIR  SERVICE,  INC.

                                             By:________________________________

                                             Its:_______________________________

                                             ARCH  AIR  MEDICAL  SERVICE,  INC.

                                             By:________________________________

                                             Its:_______________________________

                                             ROCKY  MOUNTAIN  HOLDINGS,  L.L.C.

                                             By:________________________________

                                             Its:_______________________________

                                      A-3.
<PAGE>
<TABLE>
<CAPTION>
                                  TABLE OF CONTENTS

                                                                                  PAGE
<S>                                                                               <C>
1.     RMH  ACQUISITION  AND  AUTHORIZATION  OF  FINANCING.. . . . . . . . . . .     1
       1A.     RMH  ACQUISITION. . . . . . . . . . . . . . . . . . . . . . . . .     1
       1B.     AUTHORIZATION  OF  ISSUE  OF  NOTES.. . . . . . . . . . . . . . .     2
       1C.     AUTHORIZATION  OF  ISSUE  OF  WARRANTS. . . . . . . . . . . . . .     2
2.     PURCHASE  AND  SALE  OF  SECURITIES.. . . . . . . . . . . . . . . . . . .     2
       2A.     Purchase  and  Sale  of  Notes. . . . . . . . . . . . . . . . . .     2
       2B.     Delivery  of  Warrants. . . . . . . . . . . . . . . . . . . . . .     3
       2C.     Original  Issue  Discount.. . . . . . . . . . . . . . . . . . . .     3
3.     CONDITIONS  PRECEDENT.. . . . . . . . . . . . . . . . . . . . . . . . . .     3
       3A.     Opinions of Co-Obligors' Special Counsel; Reliance Letters. . . .     3
       3B.     Opinion  of  Purchasers'  Special  Counsel. . . . . . . . . . . .     3
       3C.     Representations  and  Warranties;  No  Default. . . . . . . . . .     4
       3D.     Structuring  Fee. . . . . . . . . . . . . . . . . . . . . . . . .     4
       3E.     Purchase  of  Securities  Permitted  By  Applicable  Laws.. . . .     4
       3F.     Consents. . . . . . . . . . . . . . . . . . . . . . . . . . . . .     4
       3G.     Proceedings.. . . . . . . . . . . . . . . . . . . . . . . . . . .     4
       3H.     Other  Documents. . . . . . . . . . . . . . . . . . . . . . . . .     5
       3I.     Financial  Statements.. . . . . . . . . . . . . . . . . . . . . .     6
       3J.     Solvency  Certificate.. . . . . . . . . . . . . . . . . . . . . .     6
       3K.     RMH  Acquisition. . . . . . . . . . . . . . . . . . . . . . . . .     6
       3L.     Closing  Under  Senior  Credit  Agreement.. . . . . . . . . . . .     7
       3M.     Payment  of  Legal  Fees  and  Expenses.. . . . . . . . . . . . .     7
       3N.     No  Material  Adverse  Change.. . . . . . . . . . . . . . . . . .     7
       3O.     Insurance  Certificate. . . . . . . . . . . . . . . . . . . . . .     7
       3P.     Pay-off  Letters;  Elimination  of  Covenants.. . . . . . . . . .     7
       3Q.     Qualification  of  Warrant  Shares. . . . . . . . . . . . . . . .     8
4.     PREPAYMENTS  OF  NOTES. . . . . . . . . . . . . . . . . . . . . . . . . .     8
       4A.     Optional  Prepayment. . . . . . . . . . . . . . . . . . . . . . .     8
               4A(1).  Optional  Prepayment  --  Qualified  FPO. . . . . . . . .     8
               4A(2).  Optional  Prepayment. . . . . . . . . . . . . . . . . . .     9

                                        i
<PAGE>
                                  TABLE OF CONTENTS
                                    (CONTINUED)

                                                                                  PAGE
       4B.     Notice  of  Optional  Prepayment. . . . . . . . . . . . . . . . .     9
       4C.     Partial  Payments  Pro  Rata. . . . . . . . . . . . . . . . . . .    10
       4D.     Retirement  of  Notes.. . . . . . . . . . . . . . . . . . . . . .    10
5.     SUBORDINATION  OF  NOTES. . . . . . . . . . . . . . . . . . . . . . . . .    10
       5A(1).  Insolvency. . . . . . . . . . . . . . . . . . . . . . . . . . . .    10
       5A(2).  Insolvency  Distributions.. . . . . . . . . . . . . . . . . . . .    11
       5A(3).  Senior  Debt  Payment  Default  --  Payment  Blockage.. . . . . .    11
       5A(4).  Senior  Debt  Covenant  Defaults  --  Payment  Blockage.. . . . .    11
       5A(5).  Standstill. . . . . . . . . . . . . . . . . . . . . . . . . . . .    12
       5A(6).  Turnover. . . . . . . . . . . . . . . . . . . . . . . . . . . . .    13
       5A(7).  Filing  Claims. . . . . . . . . . . . . . . . . . . . . . . . . .    13
       5B.     Obligation  of  the  Co-Obligors  Unconditional.. . . . . . . . .    14
       5C.     Subrogation.. . . . . . . . . . . . . . . . . . . . . . . . . . .    14
       5D.     Rights  of  Holders  of  Senior  Debt.. . . . . . . . . . . . . .    14
       5E.     Rights  of  Holders  of  Senior  Debt.. . . . . . . . . . . . . .    15
       5F.     Amendments. . . . . . . . . . . . . . . . . . . . . . . . . . . .    16
6.     COVENANTS.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    16
       6A.     Financial  Statements;  Financial  Information. . . . . . . . . .    16
       6B.     Notices;  Reports.. . . . . . . . . . . . . . . . . . . . . . . .    20
       6C.     Books  and  Records.. . . . . . . . . . . . . . . . . . . . . . .    21
       6D.     Financial  Disclosure.. . . . . . . . . . . . . . . . . . . . . .    22
       6E.     Compliance  with  Laws. . . . . . . . . . . . . . . . . . . . . .    22
       6F.     Maintenance  of  Insurance. . . . . . . . . . . . . . . . . . . .    22
       6G.     Conduct  of  Business;  Maintenance  of  Existence. . . . . . . .    23
       6H.     Inspection  of  Property. . . . . . . . . . . . . . . . . . . . .    23
       6I.     Payment  of  Taxes  and  Claims.. . . . . . . . . . . . . . . . .    23
       6J.     Payment  of  Leasehold  Obligations.. . . . . . . . . . . . . . .    24
       6K.     Information  Required  by  Rule  144A.. . . . . . . . . . . . . .    24
       6L.     Payment  of  Indebtedness.. . . . . . . . . . . . . . . . . . . .    24
       6M.     Reservation  of  Shares.. . . . . . . . . . . . . . . . . . . . .    24

                                       ii.
<PAGE>
                                  TABLE OF CONTENTS
                                    (CONTINUED)

                                                                                  PAGE
       6N.     Execution  of  Multiparty  Guaranty  by  Subsidiaries.. . . . . .    24
       6O.     Additional  Documents.. . . . . . . . . . . . . . . . . . . . . .    25
       6P.  Exercise  of  Rights.. . . . . . . . . . . . . . . . . . . . . . . .    25
7.     NEGATIVE  COVENANTS.. . . . . . . . . . . . . . . . . . . . . . . . . . .    26
       7A.     Financial  Covenants. . . . . . . . . . . . . . . . . . . . . . .    26
               7A(1).  Consolidated  Net  Worth. . . . . . . . . . . . . . . . .    26
               7A(2).  Consolidated  Fixed  Charge  Coverage  Ratio. . . . . . .    26
               7A(3).  Consolidated  Total  Debt  to  EBITDA  Ratio. . . . . . .    26
               7A(4).  Consolidated  Senior  Debt  to  EBITDA  Ratio.. . . . . .    26
               7A(5).  Minimum  Consolidated  EBITDA.. . . . . . . . . . . . . .    27
               7A(7).  Consolidated  Rent  Expense.. . . . . . . . . . . . . . .    28
       7B.     Merger,  Consolidation,  Acquisitions  and  Transfers  of Assets.    28
               7B(1).  Merger,  Consolidation  or  Acquisitions. . . . . . . . .    28
               7B(2).  Transfers  of  Assets.. . . . . . . . . . . . . . . . . .    30
       7C.     Liens  and  other  Restrictions.. . . . . . . . . . . . . . . . .    31
               7C(1).  Creation  of  Liens.. . . . . . . . . . . . . . . . . . .    31
               7C(2).  Investments  and  Loans.. . . . . . . . . . . . . . . . .    31
               7C(3).  Sale  or  Discount  of  Receivables.. . . . . . . . . . .    32
       7D.     Dividends;  Redemptions.. . . . . . . . . . . . . . . . . . . . .    32
       7E.     Issuance  of  Stock  or Equity Securities by Subsidiaries.. . . .    32
       7F.     Nature  of  Business;  Purchase  of  Assets.. . . . . . . . . . .    32
       7G.     Transactions  with  Affiliates. . . . . . . . . . . . . . . . . .    33
       7H.     Fiscal  Year  and  Accounting  Changes. . . . . . . . . . . . . .    33
       7I.     Amendments  of  Charter  Documents. . . . . . . . . . . . . . . .    33
       7J.     Prepayment  of  Indebtedness. . . . . . . . . . . . . . . . . . .    33
       7K.     Modifications  of  Senior  Debt.. . . . . . . . . . . . . . . . .    34
       7L.     Hostile  Tender  Offer. . . . . . . . . . . . . . . . . . . . . .    34
       7M.     LifeNet  Services,  Inc.. . . . . . . . . . . . . . . . . . . . .    34
       7N.     Payments  to  Affiliates. . . . . . . . . . . . . . . . . . . . .    34
       7O.  Other  Agreements. . . . . . . . . . . . . . . . . . . . . . . . . .    34

                                      iii.
<PAGE>
                                  TABLE OF CONTENTS
                                    (CONTINUED)

                                                                                  PAGE
8.     EVENTS  OF  DEFAULT.. . . . . . . . . . . . . . . . . . . . . . . . . . .    34
       8A.     Acceleration. . . . . . . . . . . . . . . . . . . . . . . . . . .    34
       8B.     Rescission  of  Acceleration. . . . . . . . . . . . . . . . . . .    39
       8C.     Notice  of  Acceleration  or  Rescission. . . . . . . . . . . . .    39
       8D.     Other  Remedies.     39
9.     REPRESENTATIONS,  COVENANTS  AND  WARRANTIES. . . . . . . . . . . . . . .    40
       9A(1).  Organization;  Subsidiaries.. . . . . . . . . . . . . . . . . . .    40
       9A(2).  Power  and  Authority.. . . . . . . . . . . . . . . . . . . . . .    40
       9B.     Financial  Statements.. . . . . . . . . . . . . . . . . . . . . .    41
       9C.     Capital  Stock  and  Related  Matters.. . . . . . . . . . . . . .    42
       9D.     Actions  Pending. . . . . . . . . . . . . . . . . . . . . . . . .    43
       9E.     Outstanding  Debt.. . . . . . . . . . . . . . . . . . . . . . . .    43
       9F.     Title  to  Properties;  Insurance.. . . . . . . . . . . . . . . .    43
       9G.     Compliance  with  Laws. . . . . . . . . . . . . . . . . . . . . .    44
       9H.     Taxes.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    44
       9I.     Conflicting  Agreements  and  Other  Matters. . . . . . . . . . .    44
       9J.     Offering  of  Securities  in  Compliance  With  Laws. . . . . . .    45
       9K.     Use  of  Proceeds.. . . . . . . . . . . . . . . . . . . . . . . .    45
       9L.     ERISA.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    45
       9M.     Governmental  Consent.. . . . . . . . . . . . . . . . . . . . . .    46
       9N.     Regulatory  Status. . . . . . . . . . . . . . . . . . . . . . . .    46
       9O.     Absence  of  Financing  Statements,  etc. . . . . . . . . . . . .    46
       9P.     Hostile  Tender  Offers.. . . . . . . . . . . . . . . . . . . . .    47
       9Q.     No  Loss  of  Material  Customer. . . . . . . . . . . . . . . . .    47
       9R.     Labor  and  Employee  Relations  Matters. . . . . . . . . . . . .    47
       9S.     Disclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . .    48
       9T.     Solvency. . . . . . . . . . . . . . . . . . . . . . . . . . . . .    48
       9U.     Employment  Agreements. . . . . . . . . . . . . . . . . . . . . .    49
10.     REPRESENTATIONS  OF  PURCHASERS. . . . . . . . . . . . . . . . . . . . .    49
       10A.     Nature  of  Purchase.. . . . . . . . . . . . . . . . . . . . . .    49
       10B.     Source  of  Funds. . . . . . . . . . . . . . . . . . . . . . . .    49
11.     DEFINITIONS;  ACCOUNTING  MATTERS. . . . . . . . . . . . . . . . . . . .    51

                                      iv.
<PAGE>
                                  TABLE OF CONTENTS
                                    (CONTINUED)

                                                                                  PAGE
       11A.     Yield-Maintenance  Terms.. . . . . . . . . . . . . . . . . . . .    51
       11B.     Other  Terms.. . . . . . . . . . . . . . . . . . . . . . . . . .    53
       11C.     Accounting  and  Legal  Principles,  Terms  and  Determinations.    69
12.    MISCELLANEOUS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    69
       12A.     Note  Payments . . . . . . . . . . . . . . . . . . . . . . . . .    69
       12B.     Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . .    69
       12C.     Consent  to  Amendments. . . . . . . . . . . . . . . . . . . . .    70
       12D.     Form,  Registration, Transfer and Exchange of Notes; Lost Notes;
                Transfer  Limitation.. . . . . . . . . . . . . . . . . . . . . .    71
       12E.     Persons  Deemed  Owners;  Participations.. . . . . . . . . . . .    72
       12F.     Survival  of  Representations  and Warranties; Entire Agreement.    72
       12G.     Successors  and  Assigns.. . . . . . . . . . . . . . . . . . . .    72
       12H.     Notices. . . . . . . . . . . . . . . . . . . . . . . . . . . . .    72
       12I.     Descriptive  Headings. . . . . . . . . . . . . . . . . . . . . .    73
       12J.     Satisfaction  Requirement. . . . . . . . . . . . . . . . . . . .    73
       12K.     Payments  Due  on  Non-Business  Days. . . . . . . . . . . . . .    74
       12L.     Governing  Law.. . . . . . . . . . . . . . . . . . . . . . . . .    74
       12M.     Counterparts.. . . . . . . . . . . . . . . . . . . . . . . . . .    74
       12N.     Independence  of  Covenants. . . . . . . . . . . . . . . . . . .    74
       12O.     WAIVER  OF  JURY  TRIAL. . . . . . . . . . . . . . . . . . . . .    74
       12P.     Binding  Agreement.. . . . . . . . . . . . . . . . . . . . . . .    75
       12Q.     Personal  Jurisdiction.. . . . . . . . . . . . . . . . . . . . .    75
       12R.     Appointment  of  Air  Methods  as  Agent for Co-Obligors.. . . .    75
       12S.     Obligations  Joint  and  Several;  Extent of Obligations.. . . .    75
13.    GUARANTY  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    77
       13A.     Guaranty . . . . . . . . . . . . . . . . . . . . . . . . . . . .    77
       13B.     Obligations  Unconditional.. . . . . . . . . . . . . . . . . . .    78
       13C.     Reinstatement. . . . . . . . . . . . . . . . . . . . . . . . . .    78
       13D.     Subrogation. . . . . . . . . . . . . . . . . . . . . . . . . . .    79
       13E.     Right  of  Contribution;  Subordination. . . . . . . . . . . . .    79
</TABLE>

                                       v.
<PAGE>STOCKHOLDERS' AGREEMENT

          This Stockholders' Agreement (the "AGREEMENT") is dated as of October
16, 2002, by and between AIR METHODS CORPORATION, a Delaware corporation (the
"COMPANY"), on the one hand, and PRUDENTIAL CAPITAL PARTNERS, L.P., a Delaware
limited partnership ("PCP"), and PRUDENTIAL CAPITAL PARTNERS MANAGEMENT FUND,
L.P., a Delaware limited partnership ("PCPMF"), on the other hand.

                                    RECITALS

          A.     This Agreement is entered into in connection with the
Securities Purchase Agreement, dated as of October 16, 2002 (the "PURCHASE
AGREEMENT"), by and between the Company, Mercy Air Service, Inc, a California
corporation, ARCH Air Medical Service, Inc., a Missouri corporation, and Rocky
Mountain Holdings, L.L.C., a Delaware limited liability company, on the one
hand, and PCP and PCPMF, on the other hand, which provides for the sale by the
Company to PCP and PCPMF of (i) $23,000,000 aggregate principal amount of the
Company's 12.00% Senior Subordinated Notes Due 2007 (the "NOTES") and (ii)
Common Stock Purchase Warrants (the "WARRANTS") exercisable for the Company's
common stock, par value $0.06 per share (the "COMMON STOCK").

          B.     In order to induce PCP and PCPMF to enter into the Purchase
Agreement, the Company has agreed to provide the registration and other rights
set forth in this Agreement.  The execution and delivery of this Agreement is a
condition to PCP's and PCPMF's obligation to purchase the Notes and Warrants
under the Purchase Agreement.

                                    AGREEMENT

          NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and obligations hereinafter set forth, the parties agree as follows:

1.   DEFINITIONS.

          Certain capitalized terms used and not otherwise defined herein shall
have the meanings ascribed to them in the Purchase Agreement, and for purposes
of this Agreement, the following terms shall have the following respective
meanings:

          "AGREEMENT": See the introductory paragraph hereto.

          "BUSINESS DAY": Any day that is not a Saturday, Sunday or a day on
which banking institutions in New York are authorized or required by law to be
closed.

          "CLOSING DATE": October 16, 2002.

          "COMMON STOCK": See Recital A hereto.

                                        1
<PAGE>
          "COMPANY": See the introductory paragraph hereto.

          "DAMAGES PAYMENT DATE": See Section 3(c) hereof.

          "EFFECTIVENESS DATE": The 90th day after the earlier of the date the
Registration Statement is filed and the Filing Date.

          "EFFECTIVENESS PERIOD": See Section 2(a) hereof.

          "EXCHANGE ACT": The Securities Exchange Act of 1934, as amended, and
the rules and regulations of the SEC promulgated thereunder.

          "EXCLUDED SECURITIES": See Section 10 hereto.

          "FILING DATE": The 75th day after the Closing Date.

          "HOLDER": Any Person owning of record Registrable Securities. For the
purpose of determining the Holders (by number of shares) of Registrable
Securities on any date, the unexercised portion of the Warrants shall be deemed
to have been exercised as of such date to acquire the number of shares of Common
Stock covered thereby.

          "INDEMNIFIED HOLDER": See Section 6 hereof.

          "INDEMNIFIED PERSON": See Section 6 hereof.

          "INDEMNIFYING PERSON": See Section 6 hereof.

          "INSPECTORS": See Section 11 hereof.

          "LIQUIDATED DAMAGES": See Section 3(a) hereof.

          "NASD": See Section 4(o) hereof.

          "NOTES": See Recital A hereto.

          "OFFER": See Section 10 hereto.

          "PERSON": An individual, partnership, corporation, limited liability
company, unincorporated association, trust or joint venture, or a governmental
agency or political subdivision thereof.

          "PROSPECTUS": Any prospectus included in the Registration Statement
(including, without limitation, any prospectus subject to completion and a
prospectus that includes any information previously omitted from a prospectus
filed as part of an effective registration statement in reliance upon Rule 430A
promulgated under the Securities Act), as amended or supplemented by any
prospectus supplement, and all other amendments and supplements to

                                        2
<PAGE>
any of the foregoing, including post-effective amendments, and all material
incorporated by reference or deemed to be incorporated by reference in any of
the foregoing.

          "PURCHASE AGREEMENT": See Recital A hereto.

          "QIU": See Section 4(o) hereof.

          "RECORDS": See Section 11 hereof.

          "REGISTRABLE SECURITIES": (i) any shares of Common Stock or other
securities issued or issuable upon exercise of the Warrants; and (ii) any
securities issued or issuable with respect to the Common Stock or other
securities referred to in the foregoing clause (i) by way of stock dividend or
stock split or in connection with a combination of shares, recapitalization,
merger, consolidation or other reorganization or otherwise. As to any particular
Registrable Securities, once issued such securities shall cease to be
Registrable Securities when (a) a registration statement with respect to the
sale of such securities shall have become effective under the Securities Act and
such securities shall have been disposed of in accordance with such registration
statement, (b) such securities may be distributed to the public pursuant to Rule
144 (or any successor provision) under the Securities Act without volume
limitations, (c) they shall have been otherwise transferred, new certificates
for them not bearing a legend restricting further transfer shall have been
delivered by the Company and subsequent disposition of them shall not require
registration or qualification of them under the Securities Act or any similar
state law then in force, or (d) they shall have ceased to be outstanding.

          "REGISTRATION DEFAULT": See Section 3(a) hereof.

          "REGISTRATION STATEMENT": The registration statement of the Company
filed with the SEC pursuant to the provisions of this Agreement (including the
Prospectus), amendments and supplements to such registration statement,
including post-effective amendments, all exhibits and all material incorporated
by reference or deemed to be incorporated by reference in such registration
statement.

          "RULE 144": Rule 144 promulgated under the Securities Act, as such
Rule may be amended from time to time, or any similar rule (other than Rule
144A) or regulation hereafter adopted by the SEC providing for offers and sales
of securities made in compliance therewith resulting in offers and sales by
subsequent holders that are not affiliates of an issuer of such securities being
free of the registration and prospectus delivery requirements of the Securities
Act.

          "RULE 144A": Rule 144A promulgated under the Securities Act, as such
Rule may be amended from time to time, or any similar rule (other than Rule 144)
or regulation hereafter adopted by the SEC.

                                        3
<PAGE>
          "RULE 415": Rule 415 promulgated under the Securities Act, as such
Rule may be amended from time to time, or any similar rule or regulation
hereafter adopted by the SEC.

          "SEC": The Securities and Exchange Commission.

          "SECURITIES ACT": The Securities Act of 1933, as amended, and the
rules and regulations of the SEC promulgated thereunder.

          "SHELF REGISTRATION": See Section 2(a) hereof.

          "SHELF REGISTRATION STATEMENT": See Section 2(a) hereof.

          "UNDERWRITTEN REGISTRATION OR UNDERWRITTEN OFFERING": A registration
in which securities of the Company are sold to an underwriter for reoffering to
the public.

          "WARRANTS": See Recital A hereto.

          "WARRANT HOLDER": See Section 10 hereof.

2.   SHELF REGISTRATION.

          (a) SHELF REGISTRATION. The Company shall, as promptly as practicable
and in any event on or prior to the Filing Date, prepare and file with the SEC a
Registration Statement for an offering to be made on a continuous basis pursuant
to Rule 415 covering all of the Registrable Securities (the "SHELF
REGISTRATION"). The Shelf Registration shall be on Form S-1, with re-filing on
Form S-3 at such time as the Company becomes eligible for use of that form
(provided that the Form S-1 shall remain effective until the effectiveness of
the From S-3), or another appropriate form permitting registration of such
Registrable Securities for resale by Holders in the manner or manners designated
by them (including, without limitation, one or more underwritten offerings).
Except for up to 100,000 shares subject to exercise under warrants issued to RCG
Capital Management Group, Inc., the Company shall not permit any securities
other than the Registrable Securities to be included in the Shelf Registration.
As used herein the term "SHELF REGISTRATION STATEMENT") means any Registration
Statement filed in connection with the Shelf Registration.

          The Company shall use its best efforts to cause the Shelf Registration
to be declared effective under the Securities Act as promptly as practicable and
in any event on or prior to the Effectiveness Date and to keep the Shelf
Registration continuously effective under the Securities Act until such time as
all Registrable Securities can be sold under Rule 144 under the Securities Act
without volume limitations (as it may be shortened pursuant to clause (i) or
clause (ii) immediately following, the "EFFECTIVENESS PERIOD"), or such shorter
period ending when (i) all the Registrable Securities covered by the Shelf
Registration have been sold in the manner set forth and as contemplated in the
Shelf Registration or (ii) the date on which all the Registrable Securities (x)
held by Persons who are not affiliates of the Company may be resold pursuant to
Rule 144(k) under the Securities Act or (y) cease to be outstanding or

                                        4
<PAGE>
(iii) the date on which all of the securities described in the first sentence of
the definition of "Registrable Securities" shall have ceased to be "Registrable
Securities" pursuant to the second sentence of such definition.

          (b) SUPPLEMENTS AND AMENDMENTS. The Company shall promptly supplement
and amend the Shelf Registration if required by the rules, regulations or
instructions applicable to the registration form used for the Shelf
Registration, if required by the Securities Act, or if reasonably requested by
the Holders of a majority (by number of shares) of the Registrable Securities
covered by the Registration Statement or by any underwriter of such Registrable
Securities.

3.   LIQUIDATED DAMAGES.

          (a) The parties hereto agree that the Holders will suffer damages if
the Company fails to fulfill its obligations under Section 2 hereof and that it
would not be feasible to ascertain the extent of such damages with precision.
Accordingly, the Company agrees to pay liquidated damages on the Registrable
Securities ("LIQUIDATED DAMAGES") under the circumstances and to the extent set
forth below (each of which shall be given independent effect; each a
"REGISTRATION DEFAULT"):

          (i)  if the Shelf Registration is not filed on or prior to the Filing
     Date, then commencing on the day after the Filing Date, Liquidated Damages
     shall accrue (with the aggregate amount of such Liquidated Damages to be
     calculated, and such amount to be ratably paid to the Holders, as set forth
     in the last sentence of Section 3(c)) at a rate of 0.25% per annum for the
     first 30 days immediately following the Filing Date, such Liquidated
     Damages increasing by an additional 0.25% per annum at the beginning of
     each subsequent 30-day period;

          (ii) if the Initial Shelf Registration is not declared effective by
     the SEC on or prior to the Effectiveness Date, then commencing on the day
     after the Effectiveness Date, Liquidated Damages shall accrue (with the
     aggregate amount of such Liquidated Damages to be calculated, and such
     amount to be ratably paid to the Holders, as set forth in the last sentence
     of Section 3(c)) at a rate of 0.25% per annum for the first 30 days
     immediately following the day after such Effectiveness Date, such
     Liquidated Damages increasing by an additional 0.25% per annum at the
     beginning of each subsequent 30-day period; and

          (iii) if the Shelf Registration has been declared effective and ceases
     to be effective at any time during the Effectiveness Period (other than as
     permitted under Section 3(b) hereof), Liquidated Damages shall accrue (with
     the aggregate amount of such Liquidated Damages to be calculated, and such
     amount to be ratably paid to the Holders, as set forth in the last sentence
     of Section 3(c)) at a rate of 0.25% per annum for the first 30 days
     commencing on the day the Shelf Registration ceases to be effective,

                                        5
<PAGE>
     such Liquidated Damages increasing by an additional 0.25% per annum at the
     beginning of each such subsequent 30-day period;

provided, however, that at no time shall the aggregate rate of Liquidated
Damages accruing exceed in the aggregate 2.00% per annum; provided, further,
however, that (1) upon the filing of the Initial Shelf Registration as required
hereunder (in the case of clause (a)(i) of this Section 3), (2) upon the
effectiveness of the Shelf Registration as required hereunder (in the case of
clause (a)(ii) of this Section 3) or (3) upon the effectiveness of the Shelf
Registration which had ceased to remain effective, or a subsequent Shelf
Registration, as applicable (in the case of clause (a)(iii) of this Section 3),
Liquidated Damages on the Registrable Securities as a result of such clause (or
the relevant subclause thereof), as the case may be, shall cease to accrue.

          (b)  Notwithstanding paragraph (a) of this Section 3, the Company
shall be permitted to suspend the effectiveness of the Prospectus for a period
not to exceed 30 days in any 90-day period, and not to exceed an aggregate of 60
days in any 360-day period, if (i) the Prospectus contained in the Shelf
Registration Statement would, in the Company's good faith judgment, contain a
material misstatement or omission as a result of a previously undisclosed
proposed or pending material business transaction, the disclosure of which would
impede the Company's ability to consummate such transaction.

          (c)  The Company shall notify the Holders within two Business Days
after each and every date on which an event occurs in respect of which
Liquidated Damages are required to be paid. Any accrued and unpaid amounts of
Liquidated Damages pursuant to (a)(i), (a)(ii) or (a)(iii) of this Section 3
will be payable in cash quarterly on each of January 16, April 16, July 16 and
October 16 (each a "DAMAGES PAYMENT DATE"), commencing with the first such date
occurring after any such Liquidated Damages begin to accrue. The aggregate
amount of Liquidated Damages will be determined by multiplying the applicable
rate of Liquidated Damages by $23,000,000, multiplied by a fraction, the
numerator of which is the number of days such Liquidated Damages rate was
applicable during such period (determined on the basis of a 360-day year
comprised of twelve 30-day months and, in the case of a partial month, the
actual number of days elapsed), and the denominator of which is 360, and such
aggregate amount shall be allocated to each Holder ratably based on the
Registrable Securities (by number of shares) held by such Holder at the time any
such Liquidated Damages begin to accrue divided by the Registrable Securities
(by number of shares) held by all Holders at such time.

4.   REGISTRATION PROCEDURES.

          In connection with the filing of the Registration Statement pursuant
to Section 2 hereof, the Company shall effect such registration to permit the
resale of the securities covered thereby in accordance with the intended method
or methods of disposition thereof, and pursuant thereto and in connection with
the Registration Statement filed by the Company hereunder the Company shall:

                                        6
<PAGE>
          (a)  Prepare and file with the SEC prior to the Filing Date, a
     Registration Statement as prescribed by Section 2 hereof, and use its best
     efforts to cause such Registration Statement to become effective and remain
     effective as provided herein; provided, however, that before filing the
     Registration Statement or Prospectus (including any amendments or
     supplements thereto), the Company shall furnish to and afford the Holders
     that have provided the information required by the second full paragraph of
     Section 4, their counsel and the managing underwriters, if any, a
     reasonable opportunity to review copies of all such documents proposed to
     be filed (in each case, where possible, at least five Business Days prior
     to such filing, or such date as is reasonable under the circumstances). The
     Company shall not file any Registration Statement or Prospectus (including
     any amendments or supplements thereto) if the Holders of a majority (by
     number of shares) of the Registrable Securities that have provided the
     information required by the second full paragraph of Section 4, their
     counsel or the managing underwriters, if any, shall reasonably object.

          (b)  Prepare and file with the SEC such amendments and post-effective
     amendments to the Shelf Registration as may be necessary to keep the
     Registration Statement continuously effective for the Effectiveness Period;
     cause the related Prospectus to be supplemented by any prospectus
     supplement required by applicable law, and as so supplemented to be filed
     pursuant to Rule 424 (or any similar provisions then in force) promulgated
     under the Securities Act; and comply with the provisions of the Securities
     Act and the Exchange Act applicable to it with respect to the disposition
     of all securities covered by such Registration Statement as so amended or
     in such Prospectus as so supplemented.

          (c)  Notify the selling Holders, their counsel and the managing
     underwriters, if any, promptly (but in any event within two Business Days)
     and, if requested by such persons, confirm such notice in writing, (i) when
     a Prospectus (including any prospectus supplement or post-effective
     amendment) has been filed, and, with respect to the Registration Statement
     (including any post-effective amendment), when the same has become
     effective under the Securities Act, (ii) of the issuance by the SEC of any
     stop order suspending the effectiveness of a Registration Statement or of
     any order preventing or suspending the use of any preliminary prospectus or
     the initiation of any proceedings for that purpose, (iii) of the happening
     of any event, the existence of any condition or any information becoming
     known that makes any statement made in such Registration Statement or
     related Prospectus or any document incorporated or deemed to be
     incorporated therein by reference untrue in any material respect or that
     requires the making of any changes in or amendments or supplements to such
     Registration Statement, Prospectus or documents so that, in the case of the
     Registration Statement, it will not contain any untrue statement of a
     material fact or omit to state any material fact required to be stated
     therein or necessary to make the statements therein not misleading, and
     that in the case of the Prospectus, it will not contain any untrue
     statement of a material fact or omit to state any material fact required to
     be stated therein or necessary to make the statements therein, in the light
     of the circumstances under which

                                        7
<PAGE>
     they were made, not misleading and (iv) of the Company's determination that
     a post-effective amendment to a Registration Statement would be
     appropriate.

          (d)  Use its best efforts to prevent the issuance of any order
     suspending the effectiveness of a Registration Statement or of any order
     preventing or suspending the use of a Prospectus and, if any such order is
     issued, to use its best efforts to obtain the withdrawal of any such order
     at the earliest possible time.

          (e)  In the event of an underwritten offering pursuant to the terms of
     this Agreement, if requested by the managing underwriter or underwriters,
     if any, or the Holders of a majority (by number of shares) of the
     Registrable Securities being sold in connection with such underwritten
     offering (i) promptly incorporate in a prospectus supplement or, if
     required, a post-effective amendment such information as the managing
     underwriter or underwriters (if any), such Holders or counsel for any of
     them reasonably determine is necessary to be included therein, (ii) make
     all required filings of such prospectus supplement or such post-effective
     amendment as soon as reasonably practicable after the Company has received
     notification of the matters to be incorporated in such prospectus
     supplement or post-effective amendment and (iii) supplement or make
     amendments to such Registration Statement.

          (f)  Furnish to each selling Holder, its counsel and each managing
     underwriter, if any, at the sole expense of the Company, one conformed copy
     of the Registration Statement or Registration Statements and each
     post-effective amendment thereto, including financial statements and
     schedules, and all documents incorporated or deemed to be incorporated
     therein by reference and all exhibits.

          (g)  Deliver to each selling Holder, its counsel and the underwriters,
     if any, at the sole expense of the Company, as many copies of the
     Prospectus (including each form of preliminary prospectus and each
     amendment or supplement thereto and any documents incorporated by reference
     therein) as such Persons may reasonably request; and the Company hereby
     consents to the use of the Prospectus (including each amendment or
     supplement thereto) by each of the selling Holders and the underwriters or
     agents, if any, and dealers (if any), in connection with the offering and
     sale of the Registrable Securities covered by the Prospectus (including any
     amendment or supplement thereto).

          (h)  Prior to any public offering of Registrable Securities, to use
     its best efforts to register or qualify, to the extent required by
     applicable law, and to cooperate with the selling Holders, the managing
     underwriter or underwriters, if any, and their respective counsel in
     connection with the registration or qualification (or exemption from such
     registration or qualification) of such Registrable Securities or offer and
     sale under the securities or Blue Sky laws of such jurisdictions within the
     United States as any selling Holder, or the managing underwriter or
     underwriters, if any, reasonably request; provided, however, that where
     Registrable Securities are offered other than

                                        8
<PAGE>
     through an underwritten offering, the Company agrees to cause the Company's
     counsel to perform Blue Sky investigations and file registrations and
     qualifications required to be filed pursuant to this Section 4(h); keep
     each such registration or qualification (or exemption therefrom) effective
     during the period such Registration Statement is required to be kept
     effective and do any and all other acts or things reasonably necessary or
     advisable to enable the disposition in such jurisdictions of the
     Registrable Securities covered by the applicable Registration Statement;
     provided, however, that the Company shall not be required to (A) qualify
     generally to do business in any jurisdiction where it is not then so
     qualified, (B) take any action that would subject it to general service of
     process in any such where it is not then so subject or (C) subject itself
     to taxation in excess of a nominal dollar amount in any such jurisdiction
     where it is not then so subject.

          (i)  Cooperate with the selling Holders and the managing underwriter
     or underwriters, if any, to facilitate the timely preparation and delivery
     of certificates representing shares of Registrable Securities to be sold,
     which certificates, when such Registrable Securities are sold pursuant to
     the Shelf Registration Statement, shall not bear any restrictive legends
     (unless sold to affiliates of the Company); and enable such shares of
     Registrable Securities to be in such denominations and registered in such
     names as the managing underwriter or underwriters, if any, or Holders may
     reasonably request.

          (j)  Use its best efforts to cause the Registrable Securities covered
     by the Shelf Registration Statement to be registered with or approved by
     such other governmental agencies or authorities as may be reasonably
     necessary to enable the seller or sellers thereof or the underwriter or
     underwriters, if any, to consummate the disposition of such Registrable
     Securities, except as may be required solely as a consequence of the nature
     of such selling Holder's business, in which case the Company will cooperate
     in all reasonable respects with the filing of such Registration Statement
     and the granting of such approvals.

          (k)  Upon the occurrence of any event contemplated by Section
     4(c)(ii), 4(c)(iii) or 4(c)(iv) hereof, as promptly as practicable (except
     during any suspension of the effectiveness of the Prospectus pursuant to
     Section 3(b) hereof, in which case full compliance shall be effected not
     later than the Business Day immediately following the last day of any such
     suspension period) prepare and (subject to Section 4(a) hereof) file with
     the SEC, at the sole expense of the Company, a supplement or post-effective
     amendment to the Registration Statement or a supplement to the related
     Prospectus or any document incorporated or deemed to be incorporated
     therein by reference, or file any other required document so that, as
     thereafter delivered to the purchasers of the Registrable Securities being
     sold thereunder, the Prospectus will not contain an untrue statement of a
     material fact or omit to state a material fact required to be stated
     therein

                                        9
<PAGE>
     or necessary to make the statements therein, in the light of the
     circumstances under which they were made, not misleading.

          (l)  (i) In connection with any underwritten offering of Registrable
     Securities pursuant to the Shelf Registration, enter into an underwriting
     agreement as is customary in underwritten offerings of securities similar
     to the Registrable Securities and take all such other actions as are
     reasonably requested by the managing underwriter or underwriters in order
     to expedite or facilitate the registration or the disposition of such
     Registrable Securities and, in such connection, make such representations
     and warranties to, and covenants with, the underwriters with respect to the
     business of the Company and its subsidiaries (including any acquired
     business, properties or entity, if applicable) and the Registration
     Statement, Prospectus (including all documents, if any, incorporated or
     deemed to be incorporated by reference therein), in each case, as are
     customarily made by issuers to underwriters in underwritten offerings of
     securities similar to the Registrable Securities and confirm the same in
     writing if and when requested. The Holders of Registrable Securities to be
     distributed through such underwriting may, at their option, require that
     any or all of the representations and warranties by, and the other
     agreements on the part of the Company to and for the benefit of such
     underwriters shall also be made to and for the benefit of such Holders and
     that any or all of the conditions precedent to the obligations of such
     underwriters under such underwriting agreement shall also be conditions
     precedent to the obligations of such Holders. Any such Holder shall not be
     required to make any representations or warranties to or agreements with
     the Company or the underwriters other than representations, warranties or
     agreements regarding such Holder, such Holder's Registrable Securities,
     such Holder's intended method of distribution, information requested by
     such Holder in writing to be included in the registration statement, and
     any other representation required by law. No such Holder shall be required
     to indemnify the underwriters or any other Person for any breach by the
     Company of its representations, warranties or agreements.

               (ii) Furnish, at the request of any Holder, on the date that such
     Registrable Securities are delivered to the underwriters for sale in
     connection with a registration, if such Registrable Securities are being
     sold through underwriters, (A) a signed counterpart of an opinion, dated
     such date, of counsel representing the Company for the purposes of such
     registration, in form, scope and substance reasonably satisfactory to such
     Holder, addressed to the underwriters and to such Holder and (B) a letter,
     dated such date, signed by the independent certified public accountants of
     the Company, in form, scope and substance reasonably satisfactory to such
     Holder, addressed to the underwriters and to such Holder, covering
     substantially the same matters with respect to the Registration Statement
     (and the Prospectus included therein) and, in the case of the independent
     certified public accountants' letter, with respect to events subsequent to
     the date of the applicable financial statements, as are customarily covered
     in opinions of issuers' counsel and in independent certified public
     accountants' letters delivered to the underwriters in underwritten public
     offerings of securities and, in the

                                        10
<PAGE>
     case of the independent certified public accountants' letter, such other
     financial matters, and, in the case of the legal opinion, such other legal
     matters, as such Holder (or the underwriters) may reasonably request.

               (iii) If such Registrable Securities are not being sold through
     underwriters, furnish at the request of any Holder (A) within 25 days after
     such request, a signed counterpart of an opinion, dated such date, of
     counsel representing the Company for the purposes of such registration, in
     form, scope and substance reasonably satisfactory to such Holder, and
     addressed to such Holder, covering substantially the same matters with
     respect to the Registration Statement (and the Prospectus included therein)
     as are customarily covered in opinions of issuers' counsel delivered to the
     underwriters in underwritten public offerings of securities and such other
     legal matters as such Holder may reasonably request; provided that the
     Company shall be required to deliver no more than two such opinions, and
     (B) on the date that the registration statement with respect to such
     Registrable Securities becomes effective, a letter signed by the
     independent certified public accountants of the Company, in form, scope and
     substance reasonably satisfactory to such Holder, addressed to such Holder,
     covering substantially the same matters with respect to the Registration
     Statement (and the Prospectus included therein) and with respect to events
     subsequent to the date of the applicable financial statements, as are
     customarily covered in independent certified public accountants' letters
     delivered to underwriters in underwritten public offerings of securities,
     and such other financial matters as such Holder may reasonably request.
     Notwithstanding the foregoing, the Company may satisfy its obligation under
     clause (B) of the immediately preceding sentence by making representations
     and warranties in form, scope and substance satisfactory to such Holder.

          (m)  Provide (i) the Holders and their counsel, (ii) the underwriters
     (which term, for purposes of this Agreement, shall include a Person deemed
     to be an underwriter within the meaning of Section 2(11) of the Securities
     Act), if any, thereof, (iii) the sales or placement agent, if any, thereof
     and (iv) one counsel for such underwriters or agents, reasonable
     opportunity to participate in the preparation of such Registration
     Statement, the Prospectus included therein or filed with the SEC, and each
     amendment or supplement thereto.

          (n)  Comply with all applicable rules and regulations of the SEC and
     make generally available to its securityholders "earning statements"
     satisfying the provisions of Section 11(a) of the Securities Act and Rule
     158 thereunder (or any similar rule promulgated under the Securities Act)
     no later than 45 days after the end of any 12-month period (or 90 days
     after the end of any 12-month period if such period is a fiscal year) (i)
     commencing at the end of any fiscal quarter in which Registrable Securities
     are sold to underwriters in a firm commitment or best efforts underwritten
     offering and (ii) if not sold to underwriters in such an offering,
     commencing on the first day of each first fiscal quarter of the Company
     after the effective date of the Registration Statement

                                       11
<PAGE>
     during which Registrable Securities are sold pursuant to the Registration
     Statement, which statements shall cover said 12-month periods.

          (o)  Cooperate with each seller of Registrable Securities covered by
     any Registration Statement and each underwriter, if any, participating in
     the disposition of such Registrable Securities and their respective counsel
     in connection with any filings required to be made with the National
     Association of Securities Dealers, Inc. (the "NASD"), including, if the
     Conduct Rules of the NASD or any successor thereto as amended from time to
     time so require, engaging a "qualified independent underwriter" ("QIU") as
     contemplated therein and making Records available to such QIU as though it
     were a participating underwriter for the purposes of Section 11 and
     otherwise applying the provisions of this Agreement to such QIU (including
     indemnification) as though it were a participating underwriter.

          (p)  Cause the Registrable Securities covered by the Registration
     Statement to be listed at all times on each securities exchange or
     automated quotation system on which similar securities issued by the
     Company are listed.

          (q)  Use its best efforts to take all other steps necessary or
     advisable to effect the registration of the Registrable Securities.

          The Company may condition its obligations hereunder on the receipt
from each seller of Registrable Securities as to which registration is being
effected of such information regarding such seller and the distribution of such
Registrable Securities as shall be required to effect the registration of such
seller's Registrable Securities. Each seller as to which the Shelf Registration
is being effected agrees to furnish promptly to the Company all information
required to be disclosed so that the information previously furnished to the
Company by such seller is not materially misleading and does not omit to state
any material fact required to be stated therein or necessary to make the
statements therein not misleading in light of the circumstances under which they
were made.

          Each Holder agrees by acquisition of such Registrable Securities that,
upon actual receipt of any notice from the Company of the happening of any event
of the kind described in Section 4(c)(ii), 4(c)(iii) or 4(c)(iv) hereof, such
Holder will forthwith discontinue disposition of such Registrable Securities
covered by the Registration Statement or Prospectus until such Holder's receipt
of the copies of the supplemented or amended Prospectus contemplated by Section
4(k) hereof, or until it is advised in writing by the Company that the use of
the applicable Prospectus may be resumed, and has received copies of any
amendments or supplements thereto.

5.   REGISTRATION EXPENSES.

          All fees and expenses incident to the performance of or compliance
with this Agreement by the Company shall be borne by the Company, including,
without limitation, (i) all registration and filing fees (including, without
limitation, (A) fees with respect to filings

                                       12
<PAGE>
required to be made with the NASD in connection with an underwritten offering
and (B) fees and expenses of compliance with state securities or Blue Sky laws
(including, without limitation, reasonable fees and disbursements of counsel in
connection with Blue Sky qualifications of the Registrable Securities and
determination of the eligibility of the Registrable Securities for investment
under the laws of such jurisdictions as provided in Section 4(h) hereof)), (ii)
printing expenses (including, without limitation, expenses of printing
prospectuses if the printing of prospectuses is requested by the managing
underwriter or underwriters, if any, or by the Holders of a majority (in number
of shares) of the Registrable Securities included in any Registration
Statement), (iii) messenger, telephone or delivery expenses, (iv) fees and
disbursements of counsel for the Company and reasonable fees and disbursements
of one counsel for the sellers of Registrable Securities (selected by the
Holders (by number of shares) of a majority of Registrable Securities being
sold), (v) fees and disbursements of all independent certified public
accountants referred to in Section 4(l)(ii) hereof (including, without
limitation, the expenses of any special audit and "cold comfort" letters
required by or incident to such performance), (vi) Securities Act liability
insurance covering officers and directors of the Company, if the Company desires
such insurance, (vii) fees and expenses of all other Persons retained by the
Company, (viii) internal expenses of the Company (including, without limitation,
all salaries and expenses of officers and employees of the Company performing
legal or accounting duties), (ix) the expense of any annual audit, (x) the fees
and expenses incurred in connection with the listing or quoting of the
securities to be registered on any securities exchange or automated quotation
system and (xi) the expenses relating to printing, word processing and
distributing all Registration Statements, underwriting agreements, securities
sales agreements and any other documents necessary in order to comply with this
Agreement.

Notwithstanding anything in this Agreement to the contrary, each Holder shall
pay all underwriting discounts and brokerage commissions with respect to any
Registrable Securities sold by it.

6.   INDEMNIFICATION.

          The Company agrees to indemnify and hold harmless (i) each Holder,
(ii) each Person, if any, who controls (within the meaning of either Section 15
of the Securities Act or Section 20 of the Exchange Act) any Holder (any of the
Persons referred to in this clause (ii) being hereinafter referred to as a
"controlling person") and (iii) the respective officers, directors, partners,
employees, representatives and agents of the Holders (including predecessor
Holders) or any controlling person (any person referred to in clause (i), (ii)
or (iii) may hereinafter be referred to as an "INDEMNIFIED HOLDER"), from and
against any and all losses, claims, damages, liabilities and judgments
(including, without limitation, reasonable legal fees and other expenses
incurred in connection with any suit, action or proceeding or any claim
asserted) caused by any untrue statement or alleged untrue statement of a
material fact contained in the Registration Statement or Prospectus (including
any amendment or supplement thereto or any related preliminary prospectus), or
caused by any omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, except insofar as such losses, claims, damages or liabilities are
caused by any

                                       13
<PAGE>
untrue statement or omission or alleged untrue statement or omission made in
reliance upon and in conformity with information relating to any Holder
furnished to the Company in writing by such Holder expressly for use in therein;
provided, however, that the Company shall not be liable to any Indemnified
Holder under the indemnity agreement of this paragraph with respect to any
preliminary prospectus to the extent that any such loss, claim, damage,
liability, judgment or expense of such Indemnified Holder results from the fact
that such Indemnified Holder sold Registrable Securities under a Registration
Statement to a Person as to whom it shall be established that there was not sent
or given, at or prior to the written confirmation of such sale, a copy of the
Prospectus (or of the preliminary prospectus as then amended or supplemented if
the Company shall have furnished such Indemnified Holder with such amendment or
supplement thereto on a timely basis), in any case where such delivery is
required by applicable law and the loss, claim, damage, liability or expense of
such Indemnified Holder results from an untrue statement or omission of a
material fact contained in the preliminary prospectus which was corrected in the
Prospectus (including the preliminary prospectus as then amended or supplemented
if the Company shall have furnished such Indemnified Holder with such amendment
or supplement thereto, as the case may be, on a timely basis). The Company shall
notify each Indemnified Holder promptly of the institution, threat or assertion
of any claim, proceeding (including any governmental investigation) or
litigation in connection with the matters addressed by this Agreement which
involves the Company or such Indemnified Holder.

          Each Holder agrees, severally and not jointly, to indemnify and hold
harmless the Company, its directors, officers and each Person who controls the
Company (within the meaning of either Section 15 of the Securities Act or
Section 20 of the Exchange Act) to the same extent as the foregoing indemnity
from the Company to each Holder, but only with reference to such losses, claims,
damages or liabilities which are caused by any untrue statement or omission or
alleged untrue statement or omission made in reliance upon and in conformity
with information relating to a Holder furnished to the Company in writing by
such Holder expressly for use in any Registration Statement or Prospectus
(including any amendment or supplement thereto or any related preliminary
prospectus).

          If any suit, action, proceeding (including any governmental or
regulatory investigation), claim or demand shall be brought or asserted against
any Person in respect of which indemnity may be sought pursuant to either of the
two preceding paragraphs, such Person (the "INDEMNIFIED PERSON") shall promptly
notify the Person or Persons against whom such indemnity may be sought (each an
"INDEMNIFYING PERSON") in writing, and such Indemnifying Person, upon request of
the Indemnified Person, shall retain counsel reasonably satisfactory to the
Indemnified Person to represent the Indemnified Person and any others entitled
to indemnification pursuant to this Section 6 that the Indemnifying Person may
designate in such proceeding and shall pay the fees and expenses of such counsel
related to such proceeding. In any such proceeding, any Indemnified Person shall
have the right to retain its own counsel, but the fees and expenses of such
counsel shall be at the expense of such Indemnified Person unless (i) such
Indemnifying Person and the Indemnified Person shall have mutually agreed to the
contrary, (ii) such Indemnifying Person has failed within a reasonable time to
retain counsel

                                       14
<PAGE>
reasonably satisfactory to such Indemnified Person or (iii) the named parties in
any such proceeding (including any impleaded parties) include an Indemnifying
Person and an Indemnified Person and the Indemnified Person reasonably concludes
that representation of both parties by the same counsel would be inappropriate
due to actual or potential conflicting interests between them. It is understood
that an Indemnifying Person shall not, in connection with any proceeding or
related proceedings in the same jurisdiction, be liable for the fees and
expenses of more than one separate firm (in addition to any local counsel) for
all Indemnified Persons, and that all such fees and expenses shall be reimbursed
as they are incurred. Any such separate firm for the Indemnified Holders shall
be designated in writing by the Holders of a majority (by number of shares) of
the Registrable Securities, and any such separate firm for the Company, its
directors, officers and such control Persons of the Company shall be designated
in writing by the Company. The Indemnifying Person shall not be liable for any
settlement of any proceeding effected without its written consent, but if
settled with such consent or if there be a final judgment for the plaintiff,
such Indemnifying Person agrees to indemnify any Indemnified Person from and
against any loss or liability by reason of such settlement or judgment. No
Indemnifying Person shall, without the prior written consent of the Indemnified
Person, effect any settlement of any pending or threatened proceeding in respect
of which any Indemnified Person is or could have been a party and indemnity
could have been sought hereunder by such Indemnified Person, unless such
settlement includes an unconditional release of such Indemnified Person from all
liability on claims that are the subject matter of such proceeding.

          If the indemnification provided for in the first and second paragraphs
of this Section 6 is unavailable to an Indemnified Person or insufficient in
respect of any losses, claims, damages or liabilities referred to therein, then
each Indemnifying Person under such paragraph, in lieu of indemnifying such
Indemnified Person thereunder, shall contribute to the amount paid or payable by
such Indemnified Person as a result of such losses, claims, damages or
liabilities in such proportion as is appropriate to reflect the relative fault
of the Indemnifying Person on the one hand, and the Indemnified Person on the
other, in connection with the statements or omissions that resulted in such
losses, claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative fault of the parties shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement
of a material fact or the omission or alleged omission to state a material fact
relates to information supplied by the Company or such Indemnified Holder and
the parties' relative intent, knowledge, access to information and opportunity
to correct or prevent such statement or omission.

          Each party hereto agrees that it would not be just and equitable if
contribution pursuant to this Section 6 were determined by pro-rata allocation
or by any other method of allocation that does not take account of the equitable
considerations referred to in the immediately preceding paragraph.  The amount
paid or payable by an Indemnified Person as a result of the losses, claims,
damages and liabilities referred to in the immediately preceding paragraph shall
be deemed to include, subject to the limitations set forth above, any legal or
other expenses incurred by such Indemnified Person in connection with
investigating or defending any such action or claim.  Notwithstanding the
provisions of this Section 6, in no event shall

                                       15
<PAGE>
any Holder be required to contribute or indemnify for any amount in excess of
the net proceeds received by such Holder from the sale of the Registrable
Securities pursuant to the Shelf Registration Statement. No Person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation.

          If the Company and any Holders enter into an underwriting agreement
that contains indemnification provisions inconsistent with this Section 6, the
terms of this Section 6 will supersede such terms of the underwriting agreement.

          The remedies provided for in this Section 6 are not exclusive and
shall not limit any rights or remedies that may otherwise be available to any
indemnified party at law or in equity.

          The indemnity and contribution agreements contained in this Section 6
shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by or on behalf of
any Holder or any Person controlling any Holder or by or on behalf of the
Company, its officers or directors or any other Person controlling any of the
Company and (iii) acceptance of and payment for any of the Registrable
Securities.

7.   RULES 144 AND 144A.

          The Company covenants that it will file the reports required to be
filed by it under the Securities Act and the Exchange Act and the rules and
regulations adopted by the SEC thereunder in a timely manner in accordance with
the requirements of the Securities Act and the Exchange Act and, for so long as
any Registrable Securities remain outstanding, if at any time the Company is not
required to file such reports, it will, upon the request of any Holder or
beneficial owner of Registrable Securities, make available such information as
is necessary to permit sales pursuant to Rule 144A under the Securities Act. The
Company further covenants that, for so long as any Registrable Securities remain
outstanding, it will use its best efforts to take such further action as any
Holder may reasonably request, all to the extent required from time to time to
enable such holder to sell Registrable Securities without registration under the
Securities Act within the limitation of the exemptions provided by (a) Rule
144(k) or Rule 144A under the Securities Act, as such rules may be amended from
time to time, or (b) any similar rule or regulation hereafter adopted by the
SEC.

8.   UNDERWRITTEN REGISTRATIONS.

          If any of the Registrable Securities covered by the Shelf Registration
are to be sold in an underwritten offering, the investment banker or investment
bankers and manager or managers that will manage the offering will be selected
by the Holders of a majority (by number of shares) of the Registrable Securities
to be included in such offering and will be reasonably acceptable to the
Company.

                                       16
<PAGE>
          No Holder may participate in any underwritten registration hereunder
unless such Holder (a) agrees to sell such Holder's Registrable Securities on
the basis provided in any underwriting arrangements approved by the Persons
entitled hereunder to approve such arrangements and (b) completes and executes
all questionnaires, indemnities, underwriting agreements and other documents
reasonably required under the terms of such underwriting arrangements.

9.   BOARD OBSERVATION RIGHTS AND OTHER INFORMATION.

          PCP shall have the right (i) to attend (or have its affiliated
designee attend) all meetings of the board of directors of the Company as a
non-voting observer, (ii) receive all distributions of materials and notices
given to members of the Company's board of directors and (iii) receive all
distributions of materials and notices given to stockholders of the Company;
provided, however, that such right will terminate when PCP and PCPMF
collectively fail to hold at least 5% of the number of shares of Common Stock
(which shall be deemed to include all shares of Common Stock for which any
unexercised portion of a Warrant is exercisable) that they collectively held
immediately after the Closing Date.

          All expenses and disbursements incurred or made by PCP related to the
exercise of its rights under this Section 9 shall be reimbursed by the Company
promptly after demand by PCP.

10.  PREEMPTIVE RIGHTS.

          If the Company offers to issue (an "OFFER") to any Person other than a
Holder of a Warrant any additional equity securities (including options,
warrants or similar securities) other than Excluded Securities, it shall give
each Holder of a Warrant with respect to which a portion thereof remains
unexercised (a "WARRANT HOLDER") the right to purchase, on the same terms and
conditions as such securities are being offered for sale to such Person, a
portion of such securities sufficient to maintain such Holder's percentage
ownership in the Company represented by such unexercised Warrant.  The Company
shall provide written notice to each Warrant Holder of any Offer, which notice
shall contain the terms and conditions of the Offer.  Each Warrant Holder shall
have a period equal to the greater of (i) 15 Business Days from the date such
Warrant Holder receives such notice from the Company and (ii) the period of time
that such Person will be permitted to accept the Offer, to exercise its right to
purchase such securities under this Section 10.  A Warrant Holder shall exercise
its right by providing written notice to the Company of its intent to purchase
and the number of securities which it intends to purchase.  Thereafter, such
Warrant Holder shall have a period equal to the greater of (i) 10 days from the
date such Warrant Holder gives such notice and (ii) the period of time that such
Person is required to purchase and pay for securities pursuant to the Offer, to
purchase and pay for such securities pursuant to this Section 10.  If a Warrant
Holder exercises its right to purchase securities pursuant to this Section 10,
its obligation to purchase such securities shall be subject to the consummation
of the transaction that gave rise to the notice received by such Warrant Holder
from the Company.

                                       17
<PAGE>
     "EXCLUDED SECURITIES" shall mean (i) issuances of up to 150,000 shares of
Common Stock upon exercise of warrants of the Company outstanding as of the date
hereof, (ii) issuances of equity securities to officers, directors or employees
of, or consultants to, the Company as compensation for services, directly or
pursuant to a stock option plan or an employee stock purchase plan approved by
the Company's board of directors, (iii) issuances of Common Stock or
equity-equivalent securities in an offering to the public pursuant to a
registration statement filed under the Securities Act, (iv) issuances of Common
Stock or equity-equivalent securities as a dividend or distribution to
stockholders of the Company generally or (v) issuances of Common Stock or
equity-equivalent securities in connection with joint ventures or acquisitions,
whether by merger, consolidation, purchase of assets, exchange of stock,
reorganization, or otherwise.

11.   INFORMATION COVENANTS.

          Until each of PCP and PCPMF has sold or otherwise disposed of its
Warrant and Warrant Shares, the Company shall:

          (a)  Make available for inspection by a representative designated by
such Person, any underwriter participating in any disposition of such Person's
Registrable Securities, or any attorney, accountant or other agent retained by
any such Person or underwriter (collectively, the "INSPECTORS"), at the offices
where normally kept, during reasonable business hours upon reasonable notice,
all financial and other records, pertinent corporate documents and instruments
and agreements of the Company and its subsidiaries (collectively, the "RECORDS")
as shall be reasonably requested by such Inspectors, and cause the officers,
directors and employees of the Company and its subsidiaries to supply all
information reasonably requested by any such Inspector in connection therewith
and to meet with the Inspectors; and

          (b)  Deliver to such Person the financial statements as required
pursuant to paragraphs 6A(i), (ii), (iii), (iv) and (v) of the Purchase
Agreement as in effect on the date hereof, which paragraphs are incorporated
herein by reference, except that the obligations of the Company shall be in
favor of PCP and PCPMF.

12.  MISCELLANEOUS.

          (a)  NO INCONSISTENT AGREEMENTS The Company has not, as of the date
hereof, and the Company shall not, after the date of this Agreement, enter into
any agreement with respect to any of its securities that is inconsistent with
the rights granted to the Holders in this Agreement or otherwise conflicts with
the provisions hereof. The Company has not entered and will not enter into any
agreement with respect to any of its securities that will grant to any Person
piggyback registration rights with respect to a Registration Statement.

          (b)  ADJUSTMENTS AFFECTING REGISTRABLE SECURITIES The Company shall
not, directly or indirectly, take any action with respect to the Registrable
Securities as a class

                                       18
<PAGE>
that would adversely affect the ability of the Holders to include Registrable
Securities held by them in a registration undertaken pursuant to this Agreement.

          (c)  AMENDMENTS AND WAIVERS The provisions of this Agreement may not
be amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, otherwise than with the prior written
consent of the Company and the Holders of not less than a majority (by number of
shares) of the Registrable Securities then outstanding; provided, however, that
(i) Section 6 and this Section 12(c) may not be amended, modified or
supplemented without the prior written consent of the Company and each Holder
(including, in the case of an amendment, modification or supplement of Section 6
that would be given retroactive effect, any Person that was a Holder of
Registrable Securities disposed of pursuant to any Registration Statement and
whose rights under Section 6 would be affected by such amendment, modification
or supplement) and (ii) Section 9 may not be amended, modified or supplemented
without the prior written consent of PCP. Notwithstanding the foregoing, a
waiver or consent to depart from the provisions hereof with respect to a matter
that relates exclusively to the rights of Holders whose securities are being
sold pursuant to a Registration Statement and that does not directly or
indirectly affect, impair, limit or compromise the rights of other Holders may
be given by Holders of at least a majority (by number of shares) of the
Registrable Securities being sold by such Holders pursuant to the Registration
Statement.

          (d)  NOTICES All notices, requests, consents and other communications
provided for or permitted hereunder shall be deemed to be sufficient if
contained in a written instrument and delivered by facsimile transmitted to such
party at the facsimile number set forth below (or such other facsimile number as
may hereafter be designated by the recipient to the sender), by
nationally-recognized overnight courier or first class registered or certified
mail, postage prepaid, in each case addressed to such party at the address set
forth below (or such other address as may hereafter be designated by the
addressee to the addressor):

          (1)  if to PCP or PCPMF:
               c/o Prudential Capital Group
               Four Embarcadero, Suite 2700
               San Francisco, CA 94111
               Attention:  Managing Director
               Facsimile:  (415) 421-6233

          with copies to:

               Cooley Godward LLP
               One Maritime Plaza, 20th Floor
               San Francisco, California 94111
               Facsimile:  (415) 951-3699
               Attention:  Bradley C. Crawford, Esq.

                                       19
<PAGE>
          (2)  if to the Company:
               Air Methods Corporation
               7301 South Peoria
               Englewood, Colorado 80112
               Facsimile: (303) 790-4780
               Attention: Chief Financial Officer

          with copies to:

               Davis Graham & Stubbs LLP
               1550 Seventeenth Street, Suite 500
               Denver, Colorado 80202
               Facsimile: (303) 893-1379
               Attention: Lester Woodward, Esq.

          (3)  if to any other Holder, addressed to such other Holder at such
               address as such other Holder shall have specified to the Company
               in writing from time to time or, if any such other Holder shall
               not have so specified an address to the Company, then addressed
               to such other Holder in care of the last holder of such Security
               which shall have so specified an address to the Company.

          All such notices, requests, consents and other communications shall be
deemed to have been duly given:  when delivered, if delivered in person; three
Business Days after being deposited in the mail, postage prepaid, if sent by
first class registered or certified mail; one Business Day after being timely
delivered to a nationally-recognized overnight courier; and when receipt of
complete transmission is received by the addressee, if sent by facsimile.

          (e)  SUCCESSORS AND ASSIGNS Except for rights specific to PCP and
PCPMF, this Agreement shall inure to the benefit of and be binding upon the
successors and assigns of each of the parties hereto, including the Holders;
provided, however, that this Agreement shall not inure to the benefit of or be
binding upon a successor or assign of a Holder unless and except to the extent
such successor or assign holds Registrable Securities.

          (f)  COUNTERPARTS This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

          (g)  HEADINGS The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

          (H)  GOVERNING LAW THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS

                                       20
<PAGE>
MADE AND PERFORMED WHOLLY WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO
PRINCIPLES OF CONFLICTS OF LAW. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO
THE JURISDICTION OF THE FEDERAL AND NEW YORK STATE COURTS SITTING IN MANHATTAN,
NEW YORK CITY, THE STATE OF NEW YORK, IN ANY ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO THIS AGREEMENT.

          (i)  SEVERABILITY If any term, provision, covenant or restriction of
this Agreement is held by a court of competent jurisdiction to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions set forth herein shall remain in full force and
effect and shall in no way be affected, impaired or invalidated, and the parties
hereto shall use their best efforts to find and employ an alternative means to
achieve the same or substantially the same result as that contemplated by such
term, provision, covenant or restriction. It is hereby stipulated and declared
to be the intention of the parties that they would have executed the remaining
terms, provisions, covenants and restrictions without including any of such that
may be hereafter declared invalid, illegal, void or unenforceable.

          (j)  SECURITIES HELD BY THE COMPANY OR ITS AFFILIATES Whenever the
consent or approval of Holders of a specified percentage of the Registrable
Securities (by number of shares) is required hereunder, Registrable Securities
held by the Company or its affiliates (as such term is defined in Rule 405 under
the Securities Act) shall not be counted in determining whether such consent or
approval was given by the Holders of such required percentage.

          (k)  THIRD PARTY BENEFICIARIES Holders are intended third party
beneficiaries of this Agreement and this Agreement may be enforced by such
Persons.

          (l)  ENTIRE AGREEMENT This Agreement, together with the Purchase
Agreement and the other Transaction Documents (as defined in the Purchase
Agreement), is intended by the parties as a final and exclusive statement of the
agreement and understanding of the parties hereto in respect of the subject
matter contained herein and therein and any and all prior oral or written
agreements, representations, or warranties, contracts, understandings,
correspondence, conversations and memoranda between PCP and PCPMF, on the one
hand, and the Company, on the other hand, or between or among any agents,
representatives, parents, subsidiaries, affiliates, predecessors in interest or
successors in interest with respect to the subject matter hereof and thereof are
merged herein and replaced hereby.

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

                          [signature page(s) to follow]

                                       21
<PAGE>
                             AIR METHODS CORPORATION

                             By:  /s/  George Belsey
                                --------------------------------
                                Name:  George Belsey
                                Title:  CEO

                             PRUDENTIAL CAPITAL PARTNERS, L.P.

                             By: Prudential Capital Group, L.P., General Partner

                             By:  /s/  Stephen J. DeMartini, Jr.
                                --------------------------------
                                Vice President

                             PRUDENTIAL CAPITAL PARTNERS MANAGEMENT FUND, L.P.

                             By: Prudential Investment Management, Inc.,
                                 General Partner

                             By:  /s/  Stephen J. DeMartini, Jr.
                                --------------------------------
                                Vice President

                                       22
<PAGE>

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