Document:

asbform10k_ex10-8.htm

    
      
         

      

      
         

        
          

        

      

      
         

        
          [Confidential
treatment has been requested as to certain portions of this
document.  Each such portion, which has been omitted herein and
replaced with a series of three asterisks in brackets [***], has been filed
separately with the Securities and Exchange Commission.]

           

          

        

      

    

    EXHIBIT
10.8

    

     February
25, 2009

    

    Jon
Last

    President

    Bard
Access Systems, Inc.

    605 North
5600 West

    Salt Lake
City, Utah 84116

    

    

    Re:           Chronoflex
Agreement extension and amendment

    

    Dear
Jon:

    

    We refer
to the Development, Supply and License Agreement, dated November 11, 1992 (the
“Original Agreement’), by and between AdvanSource Biomaterials, Corp. (formerly
known as  CardioTech International, Inc. and Polymedica Industries,
Inc.) (“AdvanSource”) and Bard Access Systems, Inc. (“Bard”), as amended by the
Amendment to Development, Supply and License Agreement, dated January 26, 1999
(the “Amendment”) between AdvanSource and Bard, and as modified by the letter
agreement between Bard and AdvanSource dated October 30, 2001 (the “First
Letter’), the letter agreement between Bard and AdvanSource dated July 1, 2003
(the “Second Letter”) and the letter agreement between Bard and AdvanSource
dated April 1, 2004 (the “Third Letter”). The Original Agreement, the Amendment,
the First Letter, the Second Letter and the Third Letter are referred to herein
collectively as the “Agreement”. Capitalized terms used herein but not defined
herein shall have the meanings given such terms in the Agreement.

    

    As of
March 31, 2009, Bard and AdvanSource agree to amend the Agreement as
follows:

    

    
      	
              1.  

            	
              Section
      1.10 of the Agreement is hereby deleted in its
  entirety.

            

    

    

    
      	
              2.  

            	
              AdvanSource’s
      obligations set forth in Article VI, Exclusive Supply of CHRONOFLEX of the
      Original Agreement and any supply and license obligations of AdvanSource
      set forth in the First Letter, Second Letter and Third Letter shall be
      non-exclusive.

            

    

    

    
      	
              3.  

            	
              Section
      8.2 is hereby deleted in its entirety and replaced as
    follows:

            

    

    

    “From
April 1, 2009 through March 31, 2011, AdvanSource and Bard hereby agree that the
price for CHRONOFLEX and IMPROVEMENTS, FOB AdvanSource’s manufacturing facility,
exclusive of sales tax and customs duties, if any, shall become [***] of
CHRONOFLEX.”

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

    
      	
              4.  

            	
              Sections
      8.3, 8.3(a) and 8.6 of the Agreement are hereby deleted in their
      entirety.

            

    

    

    
      	
              5.  

            	
              Section
      9.1 of the Agreement and any royalty obligations set forth in the First
      Letter, Second Letter and Third Letter are hereby deleted in their
      entirety and replaced as follows:

            

    

    

    “From
April 1, 2009 through March 31, 2010, Bard shall pay AdvanSource a royalty in
the amount of [***] of PRODUCT that is COMMERCIALLY SOLD and that would infringe
an issued claim of a patent included in the PROPRIETARY RIGHTS if COMMERCIALLY
SOLD in a country in which an issued claim of such patent included in the
PROPRIETARY RIGHTS is valid and subsisting at the time of COMMERCIAL SALE, provided, however,
that only one royalty shall be due to AdvanSource regardless of the number of
issued claims of patents included in the PROPRIETARY RIGHTS that may cover such
PRODUCT and regardless of the number of COMMERCIAL SALES or transfers of such
PRODUCT.

     

    From
April 1, 2010 through March 31, 2011, Bard shall pay AdvanSource a royalty in
the amount of [***] of PRODUCT that is COMMERCIALLY SOLD and that would infringe
an issued claim of a patent included in the PROPRIETARY RIGHTS if COMMERCIALLY
SOLD in a country in which an issued claim of such patent included in the
PROPRIETARY RIGHTS is valid and subsisting at the time of COMMERCIAL SALE, provided, however,
that only one royalty shall be due to AdvanSource regardless of the number of
issued claims of patents included in the PROPRIETARY RIGHTS that may cover such
PRODUCT and regardless of the number of COMMERCIAL SALES or transfers of such
PRODUCT.”

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    

    
      	
              6.  

            	
              Section
      9.2 of the Agreement is hereby deleted in its entirety and replaced as
      follows:

            

    

    

    “Periodic
royalties payable under Section 9.1 shall be paid by Bard to AdvanSource within
forty-five (45) days of the close of the calendar quarter to which such payment
relates.  Bard will keep or cause to be kept accurate written records
of the COMMERCIAL SALES of PRODUCTS sold in each such quarter and will supply
AdvanSource with a written summary thereof at the time of its payment of the
period royalties therefore.  Bard hereby grants to AdvanSource the
right, during normal business hours and upon reasonable advance notice to Bard,
to have an independent certified public accounting firm, reasonably acceptable
to Bard, inspect Bard’s records relating to the payment of royalties hereunder,
no more often than once per year, for the purpose of ascertaining the
correctness and accuracy of the information contained in royalty reports
furnished by Bard.  The cost of any such audit shall be borne by
AdvanSource, provided, however, in the event such audit indicates a discrepancy
of greater than five percent (5%) to the detriment of AdvanSource, Bard shall
reimburse AdvanSource for the cost of such accounting firm audit within thirty
(30) days of Bard’s receipt of evidence of AdvanSource’s incurred actual
out-of-pocket cost for the same.”

    

    
      	
              7.  

            	
              Sections
      9.3, 9.4 and 9.5 of the Agreement are hereby deleted in their
      entirety.

            

    

    

    
      	
              8.  

            	
              Section
      11.1 of the Agreement is hereby deleted in its entirety and replaced as
      follows:

            

    

    

    “Except
as otherwise provided herein, this Agreement shall commence of the EFFECTIVE
DATE and shall continue thereafter until March 31, 2011, unless sooner
terminated as provided below.”

    

    
      	
              9.  

            	
              Section
      11.2 of the Agreement is hereby deleted in its
  entirety.

            

    

    

    
      	
              10.  

            	
              Section
      11.3 of the Agreement is hereby deleted in its entirety and replaced as
      follows:

            

    

    

    “Bard
shall have the right to terminate this Agreement at any time, for any reason
with or without cause and without resulting liability, by providing AdvanSource
with twelve (12) month advance written notice.”

    

    
      	
              11.  

            	
              Section
      11.4 of the Agreement is hereby deleted in its
  entirety.

            

    

    

    
      	
              12.  

            	
              Section
      15.1 of the Agreement is hereby deleted in its entirety and replaced as
      follows:

            

    

    

    “All
notices required or permitted to be given under this Agreement shall be in
writing and shall be deemed effective and given when delivered in person or sent
by edified or registered mail, postage and certification prepaid, return receipt
requested, addressed to the party to be notified at its address first above
written or to such changed address as the party may direct by notice given in
the aforementioned matter.  In the case of notices to Bard, the same
shall be directed to the attention of Bard’s President with a copy to the
attention: General Counsel, C. R. Bard, Inc., 730 Central Avenue, Murray Hill,
New Jersey 07974.  In the case of notices to AdvanSourcne, a copy of
same shall be directed to: Michael Adams at AdvanSource with a copy to Khristine
Carroll at AdvanSource.”

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    
      	
              13.  

            	
              Schedule
      A of the Agreement is hereby deleted in its entirety and replaced by
      Schedule A attached hereto.

            

    

    

    
      	
              14.  

            	
              Schedule
      C of the Agreement is hereby deleted in its entirety and replaced by
      Schedule C attached hereto.

            

    

    

    This
letter agreement, the Original Agreement, the Amendment, the First Letter, the
Second Letter and the Third Letter shall hereafter contain the entire
understanding of the parties with respect to the subject matter hereof and
thereof, and supersede in all respects any and all prior oral or written
agreements or understandings. This letter agreement may be amended or modified
only by a written agreement executed by the parties hereto.

    

    If the
foregoing is in accordance with your understanding, please so indicate by
executing a copy of this letter and returning it to the undersigned, whereupon
this letter shall become our binding agreement.

    

    Sincerely,

    

    /s/ Khristine
Carroll

    Khristine
Carroll

    Vice
President – Sales and Marketing

    AdvanSource
Biomaterials Corp.

    

    

    In
witness whereof, each party has caused this Amendment to be executed by their
duly authorized representatives on the date and the year first written
above.

    

    

    AdvanSource Biomaterials
Corp.

    

    

    By: /s/ Michael
Adams______________

    Michael
Adams

    President                                                                           _

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

     

    Agreed to
and accepted by:

    

    BARD
ACCESS SYSTEMS, INC.

    

    

    By: /s/ Jon
Last__________________

    Jon
Last

    President

    

    
      
         

      

      
        5

        
          

        

      

      
         

        
          [Confidential
treatment has been requested as to certain portions of this
document.  Each such portion, which has been omitted herein and
replaced with a series of three asterisks in brackets [***], has been filed
separately with the Securities and Exchange Commission.]

           

          

        

      

    

    Schedule
A

    

    ChronoFlex Resin
Specifications

    

    [***]

    

    

    
      
         

      

      
        6ex101.htm

    Exhibit 10.1

     

    Execution
Copy

     

    

     

    

     

    

     

    

     

    

     

    SHARE
EXCHANGE AGREEMENT

     

    by
and among

     

    HALYCON
JETS HOLDINGS, INC.

     

    and

     

    THE
SHAREHOLDERS OF ALLIANCE NETWORK COMMUNICATIONS, INC.

     

    

     

    Dated
as of July 1, 2009

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

    

    TABLE OF CONTENTS

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    	 Article
      I - Exchange of Shares 	1
	 	
                                            1.1

                                          	
                                            Share
      Exchange

                                          	
                                            1

                                          
	 	
                                            1.2

                                          	
                                            Closing

                                          	
                                            1

                                          
	 	Article
      II - Representations and Warranties of the Shareholders 	2
	 	
                                            2.1

                                          	
                                            Good
      Title

                                          	
                                            2

                                          
	 	
                                            2.2

                                          	
                                            Pre-emptive
      Rights

                                          	
                                            2

                                          
	 	
                                            2.3

                                          	
                                            Organization

                                          	
                                            2

                                          
	 	
                                            2.4

                                          	
                                            Power
      and Authority

                                          	
                                            2

                                          
	 	
                                            2.5

                                          	
                                            No
      Conflicts

                                          	
                                            2

                                          
	 	
                                            2.6

                                          	
                                            Litigation

                                          	
                                            2

                                          
	 	
                                            2.7

                                          	
                                            No
      Finder’s Fee

                                          	
                                            2

                                          
	 	
                                            2.8

                                          	
                                            Purchase
      Entirely for Own Account

                                          	
                                            3

                                          
	 	
                                            2.9

                                          	
                                            Available
      Information

                                          	
                                            3

                                          
	 	
                                            2.10

                                          	
                                            Non-Registration

                                          	
                                            3

                                          
	 	
                                            2.11

                                          	
                                            Legends

                                          	
                                            3

                                          
	 Article
      III - Representations and Warranties Regarding ANC 	4
	 	
                                            3.1

                                          	
                                            Organization,
      Standing and Power

                                          	
                                            4

                                          
	 	
                                            3.2

                                          	
                                            ANC
      Subsidiaries; Equity Interests

                                          	
                                            4

                                          
	 	
                                            3.3

                                          	
                                            Capital
      Structure

                                          	
                                            4

                                          
	 	
                                            3.4

                                          	
                                            No
      Conflicts; Consents

                                          	
                                            5

                                          
	 	
                                            3.5

                                          	
                                            Taxes

                                          	
                                            5

                                          
	 	
                                            3.6

                                          	
                                            Benefit
      Plans

                                          	
                                            6

                                          
	 	
                                            3.7

                                          	
                                            Litigation

                                          	
                                            6

                                          
	 	
                                            3.8

                                          	
                                            Compliance
      with Applicable Laws

                                          	
                                            6

                                          
	 	
                                            3.9

                                          	
                                            Brokers;
      Schedule of Fees and Expenses

                                          	
                                            6

                                          
	 	
                                            3.10

                                          	
                                            Contracts

                                          	
                                            6

                                          
	 	
                                            3.11

                                          	
                                            Title
      to Properties

                                          	
                                            7

                                          
	 	
                                            3.12

                                          	
                                            Intellectual
      Property

                                          	
                                            7

                                          
	 	
                                            3.13

                                          	
                                            Labor
      Matters

                                          	
                                            7

                                          
	 	
                                            3.14

                                          	
                                            Insurance

                                          	
                                            7

                                          
	 	
                                            3.15

                                          	
                                            Foreign
      Corrupt Practices

                                          	
                                            7

                                          
	 	
                                            3.16

                                          	
                                            Financial
      Statements; Liabilities

                                          	
                                            7

                                          
	 	
                                            3.17

                                          	
                                            Transactions
      with Affiliates and Employees

                                          	
                                            8

                                          
	 	
                                            3.18

                                          	
                                            Solvency

                                          	
                                            8

                                          
	 	
                                            3.19

                                          	
                                            Investment
      Company

                                          	
                                            8

                                          
	 	
                                            3.20

                                          	
                                            Absence
      of Certain Changes or Events

                                          	
                                            8

                                          
	 	
                                            3.21

                                          	
                                            Disclosure

                                          	
                                            9

                                          
	 	
                                            3.22

                                          	
                                            Information
      Supplied

                                          	
                                            9

                                          
	 	
                                            3.23

                                          	
                                            No
      Undisclosed Events, Liabilities, Developments or
    Circumstances

                                          	
                                            10

                                          
	 	
                                            3.24

                                          	
                                            No
      Additional Agreements

                                          	
                                            10

                                          
	 Article
      IV - Representations and Warranties of HJH 	10
	 	
                                            4.1

                                          	
                                            Organization,
      Standing and Power

                                          	
                                            10

                                          
	 	
                                            4.2

                                          	
                                            Subsidiaries;
      Equity Interests

                                          	
                                            10

                                          
	 	
                                            4.3

                                          	
                                            Capital
      Structure

                                          	
                                            10

                                          
	 	
                                            4.4

                                          	
                                            Authority;
      Execution and Delivery; Enforceability

                                          	
                                            11

                                          
	 	
                                            4.5

                                          	
                                            No
      Conflicts; Consents

                                          	
                                            11

                                          
	 	
                                            4.6

                                          	
                                            SEC
      Documents; Undisclosed Liabilities

                                          	
                                            12

                                          
	 	
                                            4.7

                                          	
                                            Taxes

                                          	
                                            12

                                          
	 	
                                            4.8

                                          	
                                            Absence
      of Changes in Benefit Plans

                                          	
                                            13

                                          
	 	
                                            4.9

                                          	
                                            ERISA
      Compliance; Excess Parachute Payments

                                          	
                                            13

                                          
	 	
                                            4.10

                                          	
                                            Litigation

                                          	
                                            13

                                          
	 	
                                            4.11

                                          	
                                            Compliance
      with Applicable Laws

                                          	
                                            13

                                          
	 	
                                            4.12

                                          	
                                            Contracts

                                          	
                                            13

                                          
	 	
                                            4.13

                                          	
                                            Title
      to Properties

                                          	
                                            14

                                          
	 	
                                            4.14

                                          	
                                            Intellectual
      Property

                                          	
                                            14

                                          
	 	
                                            4.15

                                          	
                                            Labor
      Matters

                                          	
                                            14

                                          
	 	
                                            4.16

                                          	
                                            Foreign
      Corrupt Practices

                                          	
                                            14

                                          
	 	
                                            4.17

                                          	
                                            Transactions
      With Affiliates and Employees

                                          	
                                            14

                                          
	 	
                                            4.18

                                          	
                                            Solvency

                                          	
                                            14

                                          
	 	
                                            4.19

                                          	
                                            Investment
      Company

                                          	
                                            15

                                          
	 	
                                            4.20

                                          	
                                            Absence
      of Certain Changes or Events

                                          	
                                            15

                                          
	 	
                                            4.21

                                          	
                                            Disclosure

                                          	
                                            16

                                          
	 	
                                            4.22

                                          	
                                            Information
      Supplied

                                          	
                                            16

                                          
	 	
                                            4.23

                                          	
                                            Certain
      Registration Matters

                                          	
                                            16

                                          
	 	
                                            4.24

                                          	
                                            Listing
      and Maintenance Requirements

                                          	
                                            16

                                          
	 	
                                            4.25

                                          	
                                            No
      Undisclosed Events, Liabilities, Developments or
    Circumstances

                                          	
                                            16

                                          
	 	
                                            4.26

                                          	
                                            No
      Additional Agreements

                                          	
                                            17

                                          
	 Article
      V - Conditions to Closing 	17
	 	
                                            5.1

                                          	
                                            HJH
      Conditions Precedent

                                          	
                                            17

                                          
	 	
                                            5.2

                                          	
                                            ANC
      and Shareholders Conditions Precedent

                                          	
                                            18

                                          
	 Article
      VI - Covenants 	20
	 	
                                            6.1

                                          	
                                            Preparation
      of the 14f-1 Notice; Blue Sky Laws

                                          	
                                            20

                                          
	 	
                                            6.2

                                          	
                                            Public
      Announcements

                                          	
                                            20

                                          
	 	
                                            6.3

                                          	
                                            Fees
      and Expenses

                                          	
                                            20

                                          
	 	
                                            6.4

                                          	
                                            Continued
      Efforts

                                          	
                                            20

                                          
	 	
                                            6.5

                                          	
                                            Exclusivity

                                          	
                                            20

                                          
	 	
                                            6.6

                                          	
                                            Filing
      of 8-K

                                          	
                                            21

                                          
	 	
                                            6.7

                                          	
                                            Furnishing
      of Information

                                          	
                                            21

                                          
	 	
                                            6.8

                                          	
                                            Access

                                          	
                                            21

                                          
	 	
                                            6.9

                                          	
                                            Preservation
      of Business

                                          	
                                            21

                                          
	 Article
      VII - Miscellaneous 	21
	 	
                                            7.1  

                                          	
                                            Notices

                                          	21
	 	
                                            7.2

                                          	
                                            Amendments;
      Waivers; No Additional Consideration

                                          	
                                            22

                                          
	 	
                                            7.3

                                          	
                                            Termination

                                          	
                                            22

                                          
	 	
                                            7.4

                                          	
                                            Replacement
      of Securities

                                          	
                                            22

                                          
	 	
                                            7.5

                                          	
                                            Remedies

                                          	
                                            23

                                          
	 	
                                            7.6

                                          	
                                            Interpretation

                                          	
                                            23

                                          
	 	
                                            7.7

                                          	
                                            Severability

                                          	
                                            23

                                          
	 	
                                            7.8

                                          	
                                            Counterparts;
      Facsimile Execution

                                          	
                                            23

                                          
	 	
                                            7.9

                                          	
                                            Entire
      Agreement; Third Party Beneficiaries

                                          	
                                            23

                                          
	 	
                                            7.10

                                          	
                                            Governing
      Law

                                          	
                                            23

                                          
	 	
                                            7.11

                                          	
                                            Assignment

                                          	
                                            24

                                          

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

     

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    

    

    SHARE
EXCHANGE AGREEMENT

     

    This
SHARE EXCHANGE AGREEMENT
(this “Agreement”), dated as
of July 1, 2009, is by and among Halcyon Jets Holdings, Inc., a Delaware
corporation (“HJH”) and the
shareholders of Alliance Network Communications, Inc. listed on Annex B to this
Agreement, a Nevada corporation (“ANC”) (each
individually a “Shareholder” and
collectively the “Shareholders”). Each
of the parties to this Agreement is individually referred to herein as a “Party” and
collectively, as the “Parties.” Capitalized
terms used herein that are not otherwise defined herein shall have the meanings
ascribed to them in Annex A
hereto.

     

    BACKGROUND

     

    A.           ANC
has 1,000,000 shares of common stock, no par value (the “ANC Stock”) issued
and outstanding, all of which are held by the Shareholders. Each Shareholder is
the record and beneficial owner of the number of shares of ANC Stock set forth
opposite such Shareholder’s name on Annex B to this
Agreement. Each Shareholder has agreed to transfer all of his, her or its
(hereinafter “its”) shares of ANC
Stock in exchange for a number of newly issued shares of the common stock, $.001
par value, of HJH (the “HJH Stock”) that
will, in the aggregate, constitute 91.4 % of the issued and outstanding capital
stock of HJH as of and immediately after the Closing. The number of shares of
HJH Stock to be received by each Shareholder is listed opposite each such
Shareholder’s name on Annex B. The
aggregate number of shares of HJH Stock that is reflected on Annex B is referred
to in this Agreement as the “Shares”.

     

    B.           The
exchange of ANC Stock for HJH Stock is intended to constitute a reorganization
within the meaning of Section 368 of the Internal Revenue Code of 1986, as
amended.

     

    C.           The
Board of Directors of each of HJH and ANC has determined that it is desirable to
effect the plan of reorganization and share exchange.

     

    AGREEMENT

     

    NOW,
THEREFORE, in consideration of the foregoing and the respective representations,
warranties, covenants and agreements set forth herein, and intending to be
legally bound hereby, the Parties agree as follows:

     

    ARTICLE
I

     

    Exchange of
Shares

     

    1.1. Share Exchange. At
the Closing, each Shareholder shall sell, transfer, convey, assign and deliver
to HJH its ANC Stock, free and clear of all Liens, in exchange for the HJH Stock
listed on Annex
B opposite such Shareholder’s name.

     

    1.2. Closing. The closing
(the “Closing”)
of the transactions contemplated hereby (the “Transactions ”) shall
take place at HJH’s offices commencing at 9:00 a.m. local time on the second
business day following the satisfaction or waiver of all
conditions to the obligations of the Parties to consummate the Transactions
(other than conditions with respect to actions that the respective parties will
take at Closing) or such other date and time as the Parties may mutually
determine (the “Closing
Date”).

     

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    ARTICLE
II

    Representations and
Warranties of the Shareholders

     

    Each of
the Shareholders hereby severally (and not jointly) represents and warrants to
HJH with respect to itself, as follows:

     

    2.1. Good
Title.  The Shareholder is the record and beneficial owner, and
has good title to its ANC Stock, with the right and authority to sell and
deliver such ANC Stock. Upon delivery of any certificate or certificates duly
assigned, representing the same as herein contemplated and/or upon registering
of HJH as the new owner of such ANC Stock in the share register of ANC, HJH will
receive good title to such ANC Stock, free and clear of all Liens.

     

    2.2. Pre-emptive Rights.
The Shareholder has no pre-emptive rights or any other rights to acquire any ANC
Stock that have not been waived or exercised.

     

    2.3. Organization. If an
entity, the Shareholder is duly organized and validly existing in its
jurisdiction of organization and in good standing under the laws of the
jurisdiction of its organization.

     

    2.4. Power and Authority.
The Shareholder has the legal power, capacity and authority to execute and
deliver this Agreement and each Transaction Document to be delivered by it
hereunder and to perform its obligations hereunder and thereunder, and to
consummate the Transactions. All acts required to be taken by the Shareholder to
enter into this Agreement, to deliver each Transaction Document to which it is a
party and to carry out the Transactions have been properly taken. This Agreement
constitutes a legal, valid and binding obligation of the Shareholder,
enforceable against such Shareholder in accordance with the terms
hereof.

     

    2.5. No Conflicts. The
execution and delivery of this Agreement by the Shareholder and the performance
by such Shareholder of its obligations hereunder in accordance with the terms
hereof: (a) will not require the consent of any third party or Governmental
Entity under any Laws; (b) will not violate any Laws applicable to the
Shareholder and (c) will not violate or breach any contractual obligation to
which such Shareholder is a party.

     

    2.6. Litigation. There is
no pending proceeding against the Shareholder that involves the Shares or that
challenges, or may have the effect of preventing, delaying or making illegal, or
otherwise interfering with, any of the transactions contemplated by this
Agreement and, to the knowledge of the Shareholder, no such proceeding has been
threatened, and no event or circumstance exists that is reasonably likely to
give rise to or serve as a basis for the commencement of any such
proceeding.

     

    2.7. No Finder’s Fee. The
Shareholder has not created any obligation for any finder’s, investment banker’s
or broker’s fee in connection with the Transactions.

     

    2.8. Purchase Entirely for Own
Account. The HJH Stock proposed to be acquired by the Shareholder
hereunder will be acquired for investment for its own account, and not with a
view to the resale or distribution of any part thereof, and such Shareholder has
no present intention of selling or otherwise distributing the HJH Stock, except
in compliance with applicable securities laws.

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

     

     

    2.9. Available
Information. The Shareholder has such knowledge and experience in
financial and business matters that it is capable of evaluating the merits and
risks of investment in HJH and has had full access to all the information it
considers necessary or appropriate to make an informed investment decision with
respect to the HJH Stock.

     

    2.10. Non-Registration. The
Shareholder understands that the HJH Stock has not been registered under the
Securities Act and, if issued in accordance with the provisions of this
Agreement, will be issued by reason of a specific exemption from the
registration provisions of the Securities Act which depends upon, among other
things, the bona fide nature of the investment intent and the accuracy of the
Shareholder’s representations as expressed herein. The Shareholder represents
that it is familiar with Rule 144 promulgated under the Securities Act, as
presently in effect, and understands the resale limitations imposed thereby and
by the Securities Act.  The non-registration shall have no prejudice
with respect to any rights, interests, benefits and entitlements attached to the
HJH Stock in accordance with HJH’s formation documents or the laws of its
jurisdiction of incorporation.

     

    2.11. Legends. The
Shareholder hereby agrees with HJH that the HJH Stock will bear the following
legend or one that is substantially similar to the following
legend:

     

    THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
SECURITIES LAWS AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE
OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED EXCEPT (1) PURSUANT TO
AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE
STATE SECURITIES LAWS OR (2) PURSUANT TO AN AVAILABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES
LAWS, IN WHICH CASE THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE
COMPANY AN OPINION OF COUNSEL, WHICH COUNSEL AND OPINION ARE REASONABLY
SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED,
ASSIGNED OR OTHERWISE TRANSFERRED IN THE MANNER CONTEMPLATED PURSUANT TO AN
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
APPLICABLE STATE SECURITIES LAWS.

     

    Additionally,
the HJH Stock will bear any legend required by the “blue sky” laws of any state
to the extent such laws are applicable to the securities represented by the
certificate so legended.

     

     

     

    
      
        
        

      

      
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    ARTICLE
III

    Representations and
Warranties Regarding ANC

     

    Each of
the Shareholders separately represents and warrants as follows to HJH with
respect to ANC:

     

    3.1. Organization, Standing and
Power. ANC is duly organized, validly existing and in good standing under
the laws of the jurisdiction in which it is organized and has the corporate
power and authority and possesses all governmental franchises, licenses,
permits, authorizations and approvals necessary to enable it to own, lease or
otherwise hold its properties and assets and to conduct its businesses as
presently conducted, other than such franchises, licenses, permits,
authorizations and approvals the lack of which, individually or in the
aggregate, has not had and would not reasonably be expected to have a material
adverse effect ANC, a material adverse effect on ANC to perform its obligations
under this Agreement or on the ability of ANC to consummate the Transactions (an
“ANC Material Adverse
Effect”). ANC is duly qualified to do business in each jurisdiction where
the nature of its business or its ownership or leasing of its properties make
such qualification necessary except where the failure to so qualify would not
reasonably be expected to have an ANC Material Adverse Effect. ANC has delivered
to HJH true and complete copies of ANC’s Constituent Instruments, and the
comparable charter, organizational documents and other constituent instruments
of each of its subsidiaries, in each case as amended through the date of this
Agreement.

     

    3.2. ANC Subsidiaries; Equity
Interests.  ANC does not as of the date of this Agreement own,
directly or indirectly, any capital stock or other securities of, or have any
beneficial ownership interest in, or hold any equity or similar interest, or
have any investment in any corporation, limited liability company, partnership,
limited partnership, joint venture or other company, person or other
entity.

     

    3.3. Capital Structure.
The authorized capital stock of ANC consists of One Million (1,000,000) shares
of common stock without par value, all of which is issued and outstanding and
held by the Shareholder in the amounts indicated on Annex
B.  All outstanding shares of the capital stock of ANC are
validly issued, fully paid and nonassessable and not subject to or issued in
violation of any purchase option, call option, right of first refusal,
preemptive right, subscription right or any similar right under any provision of
any applicable corporate Laws, ANC’s charter documents, or any Contract to which
ANC Companies are a party or otherwise bound. There are not any bonds,
debentures, notes or other indebtedness of ANC having the right to vote (or
convertible into, or exchangeable for, securities having the right to vote) on
any matters on which holders of capital stock of ANC may vote (“Voting ANC Debt”). As
of the date of this Agreement, there are not any options, warrants, rights,
convertible or exchangeable securities, “phantom” stock rights, stock
appreciation rights, stock-based performance units, commitments, Contracts,
arrangements or undertakings of any kind to which ANC is a party or by which it
is bound (a) obligating ANC to issue, deliver or sell, or cause to be issued,
delivered or sold, additional shares of capital stock or other equity interests
in, or any security convertible or exercisable for or exchangeable into any
capital stock of or other equity interest in, ANC or any Voting ANC Debt, (b)
obligating ANC to issue, grant, extend or enter into any such option, warrant,
call, right, security, commitment, Contract, arrangement or undertaking or (c)
that give any person the right to receive any economic benefit or right similar
to or derived from the economic benefits and rights occurring to holders of the
capital stock of ANC. As of the date of this Agreement, there are not any
outstanding contractual obligations of ANC to repurchase, redeem or otherwise
acquire any shares of capital stock of ANC.  No further approval or
authorization of any stockholder, the Board of Directors or others is required
for the sale of ANC Stock. There are no stockholders agreements, voting
agreements or other similar agreements with respect to ANC’s capital stock to
which ANC is a party or between or among any of ANC’s stockholders.

     

     

     

    
      
        
        

      

      
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    3.4. No Conflicts;
Consents.

     

    (a) The
consummation of the Transactions and compliance with the terms hereof will not,
conflict with, or result in any violation of or default (with or without notice
or lapse of time, or both) under, or give rise to a right of termination,
cancellation or acceleration of any obligation or to loss of a material benefit
under, or result in the creation of any Lien upon any of the properties or
assets of ANC under, any provision of (i) ANC's charter documents, (ii) any
Contract to which ANC is a party or by which any of its properties or assets is
bound or (iii) subject to the filings and other matters referred to in Section
3.4(b), any material judgment, order or decree or material Law applicable to ANC
or its properties or assets, including without limitation, the ANC Stock, other
than, in the case of clauses (ii) and (iii) above, any such items that,
individually or in the aggregate, have not had and would not reasonably be
expected to have an ANC Material Adverse Effect.

     

    (b) Except
for required filings with the SEC and applicable “Blue Sky” or state securities
commissions, no Consent of, or registration, declaration or filing with, or
permit from, any Governmental Entity is required to be obtained or made by or
with respect to ANC in connection with the execution, delivery and performance
of this Agreement or the consummation of the Transactions.

     

    3.5. Taxes.

     

    (a) ANC has
timely filed, or has caused to be timely filed on its behalf, all Tax Returns
required to be filed by it, and all such Tax Returns are true, complete and
accurate, except to the extent any failure to file or any inaccuracies in any
filed Tax Returns, individually or in the aggregate, have not had and would not
reasonably be expected to have an ANC Material Adverse Effect. All Taxes shown
to be due on such Tax Returns, or otherwise owed, have been timely paid, except
to the extent that any failure to pay, individually or in the aggregate, has not
had and would not reasonably be expected to have an ANC Material Adverse Effect.
There are no unpaid taxes in any material amount claimed to be due by the taxing
authority of any jurisdiction, and the officers of ANC know of no basis for any
such claim.

     

    (b) The ANC
Financial Statements reflect an adequate reserve for all Taxes payable by ANC
(in addition to any reserve for deferred Taxes to reflect timing differences
between book and Tax items) for all Taxable periods and portions thereof through
the date of such financial statements. No deficiency with respect to any Taxes
has been proposed, asserted or assessed against ANC, and no requests for waivers
of the time to assess any such Taxes are pending, except to the extent any such
deficiency or request for waiver, individually or in the aggregate, has not had
and would not reasonably be expected to have an ANC Material Adverse
Effect.

     

    3.6. Benefit Plans. ANC
does not have or maintain any collective bargaining agreement or any bonus,
pension, profit sharing, deferred compensation, incentive compensation, stock
ownership, stock purchase, stock option, phantom stock, retirement, vacation,
severance, disability, death benefit, hospitalization, medical or other plan,
arrangement or understanding (whether or not legally binding) providing benefits
to any current or former employee, officer or director of ANC (collectively, the
“ANC Benefit
Plans”). As of the date of this Agreement, there is not any severance or
termination agreements or arrangements between ANC and any current or former
employee, officer or director of ANC, nor does ANC have any general severance
plan or policy.

     

     

     

    
      
        
        

      

      
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    3.7. Litigation. There is
no Action against or affecting ANC or any of its properties which (a) adversely
affects or challenges the legality, validity or enforceability of any of this
Agreement or the Shares or (b) could, if there were an unfavorable decision,
individually or in the aggregate, have or reasonably be expected to result in an
ANC Material Adverse Effect. Neither ANC, nor any director or officer of ANC (in
his or her capacity as such), is or has been the subject of any Action involving
a claim or violation of or liability under central or provincial securities laws
or a claim of breach of fiduciary duty.

     

    3.8. Compliance with Applicable
Laws. ANC is in compliance with all applicable Laws, including those
relating to occupational health and safety and the environment, except for
instances of noncompliance that, individually and in the aggregate, have not had
and would not reasonably be expected to have an ANC Material Adverse Effect. ANC
has not received any written communication during the two years preceding the
date of this Agreement from a Governmental Entity that alleges that it is not in
compliance in any material respect with any applicable Law. This Section 3.8
does not relate to matters with respect to Taxes, which are the subject of
Section 3.5.

     

    3.9. Brokers; Schedule of Fees
and Expenses. No broker, investment banker, financial advisor or other
person is entitled to any broker’s, finder’s, financial advisor’s or other
similar fee or commission in connection with the Transactions based upon
arrangements made by or on behalf of ANC.

     

    3.10. Contracts. Except as
set forth on Schedule
3.10, there are no Contracts that are material to the business,
properties, assets, condition (financial or otherwise), results of operations or
prospects of ANC taken as a whole. ANC is not in violation of or in default
under (nor does there exist any condition which upon the passage of time or the
giving of notice would cause such a violation of or default under) any Contract
to which it is a party or by which it or any of its properties or assets are
bound, except for violations or defaults that would not, individually or in the
aggregate, reasonably be expected to result in an ANC Material Adverse
Effect.

     

    3.11. Title to Properties.
ANC does not own any real property. ANC has sufficient title to, or valid
leasehold interests in, all of its properties and assets used in the conduct of
its businesses. All such assets and properties, other than assets and properties
in which ANC has leasehold interests, are free and clear of all Liens, except
for Liens that, in the aggregate, do not and will not materially interfere with
the ability of ANC to conduct business as currently conducted.

     

    3.12. Intellectual
Property. ANC owns, or is validly licensed or otherwise has the right to
use, all Intellectual Property Rights which are material to the conduct of the
business of ANC, as set forth on Schedule 3.12. There
are no claims pending or, to the knowledge of the Shareholders, threatened that
ANC is infringing or otherwise adversely affecting the rights of any person with
regard to any Intellectual Property Right. To the best knowledge of the
Shareholders, no person is infringing the rights of ANC with respect to any
Intellectual Property Right.

     

    3.13. Labor Matters. There
are no collective bargaining or other labor union agreements to which ANC is a
party or by which it is bound. No material labor dispute exists or, to the best
knowledge of ANC, is imminent with respect to any of the employees of
ANC.

     

    3.14. Insurance. Except as
set forth on Schedule
3.14, ANC is insured by insurers of recognized financial responsibility
against such losses and risks and in such amounts as are prudent and customary
in the businesses in which ANC is engaged and in the geographic areas where it
engages in such businesses. ANC has no reason to believe that it will not be
able to renew its existing insurance coverage as and when such coverage expires
or to obtain similar coverage from similar insurers as may be necessary to
continue its business on terms consistent with market for ANC’s respective lines
of business.

     

     

     

    
      
        
        

      

      
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    3.15. Foreign Corrupt
Practices. Neither ANC nor, to the Shareholders’ best knowledge, any
director, officer, agent, employee or other person acting on behalf of any of
ANC has, in the course of its actions for, or on behalf of, ANC (a) used any
corporate funds for any unlawful contribution, gift, entertainment or other
unlawful expenses relating to political activity; (b) made any direct or
indirect unlawful payment to any foreign or domestic government official or
employee from corporate funds; (c) violated or is in violation of any provision
of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (d) made any
unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful
payment to any foreign or domestic government official or employee.

     

    3.16. Financial Statements;
Liabilities.

     

    (a) ANC or
will has deliver to HJH its audited consolidated financial statements for the
period ended April 30, 2009 (the “ANC Financial
Statements”) The ANC Financial Statements have been prepared in
accordance with generally accepted accounting principles applied on a consistent
basis throughout the periods indicated. The ANC Financial Statements fairly
present in all material respects the financial condition and operating results
of ANC, as of the dates, and for the periods, indicated therein.

     

    (b) ANC does
not have any material liabilities or obligations, contingent or otherwise, other
than (a) liabilities incurred in the ordinary course of business subsequent
to April 30, 2009 and (b) obligations under contracts and commitments
incurred in the ordinary course of business and not required under generally
accepted accounting principles to be reflected in the ANC Financial Statements,
which, in both cases, individually and in the aggregate, would not be reasonably
expected to result in an ANC Material Adverse Effect.

     

    3.17. Transactions with Affiliates
and Employees . Except as set forth on Schedule 3.17, none
of the officers or directors of ANC and, to the knowledge of the Shareholders,
none of the employees of ANC is presently a party to any transaction with ANC
(other than for services as employees, officers and directors), including any
Contract or other arrangement providing for the furnishing of services to or by,
providing for rental of real or personal property to or from, or otherwise
requiring payments to or from any officer, director or such employee or, to the
knowledge of the Shareholders, any entity in which any officer, director, or any
such employee has a substantial interest or is an officer, director, trustee or
partner.

     

    3.18. Solvency. Based on
the financial condition of ANC as of the Closing Date (and assuming that the
Closing shall have occurred), (a) ANC’s fair saleable value of its assets
exceeds the amount that will be required to be paid on or in respect of ANC’s
existing debts and other liabilities (including known contingent liabilities) as
they mature, (b) ANC’s assets do not constitute unreasonably small capital to
carry on its business for the current fiscal year as now conducted and as
proposed to be conducted including its capital needs taking into account the
particular capital requirements of the business conducted by ANC, and projected
capital requirements and capital availability thereof, and (c) the current cash
flow of ANC, together with the proceeds ANC would receive, were it to liquidate
all of its assets, after taking into account all anticipated uses of the cash,
would be sufficient to pay all amounts on or in respect of its debt when such
amounts are required to be paid. ANC does not intend to incur debts beyond its
ability to pay such debts as they mature (taking into account the timing and
amounts of cash to be payable on or in respect of its debt).

     

    3.19. Investment Company.
ANC is not, and is not an affiliate of, and immediately following the Closing
will not have become, an “investment company” within the meaning of the
Investment Company Act of 1940, as amended.

     

    3.20. Absence of Certain Changes
or Events. Except as disclosed in the ANC Financial Statements, from
April 30, 2009 to the date of this Agreement, ANC has conducted its business
only in the ordinary course, and during such period that has not
been:

     

    (a) any
change in the assets, liabilities, financial condition or operating results of
ANC, except changes in the ordinary course of business that have not caused, in
the aggregate, an ANC Material Adverse Effect;

     

    (b) any
damage, destruction or loss, whether or not covered by insurance, that would
have an ANC Material Adverse Effect;

     

     

    
      
        
        

      

      
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    (c) any
waiver or compromise by ANC of a valuable right or of a material debt owed to
it;

     

    (d) any
satisfaction or discharge of any lien, claim, or encumbrance or payment of any
obligation by ANC, except in the ordinary course of business and the
satisfaction or discharge of which would not have an ANC Material Adverse
Effect;

     

    (e) any
material change to a material Contract by which ANC or any of its respective
assets is bound or subject;

     

    (f) any
mortgage, pledge, transfer of a security interest in, or lien, created by ANC,
with respect to any of its material properties or assets, except liens for taxes
not yet due or payable and liens that arise in the ordinary course of business
and do not materially impair ANC’s ownership or use of such property or
assets;

     

    (g) any loans
or guarantees made by ANC to or for the benefit of its employees, officers or
directors, or any members of their immediate families, or any loans or advances
to any persons, corporations, business trusts, associations, companies,
partnerships, limited liability companies, joint ventures and other entities,
governments, agencies and political subdivision other than travel advances and
other advances made in the ordinary course of its business;

     

    (h) any
alteration of ANC’s method of accounting or the identity of its
auditors;

     

    (i) any
declaration or payment of dividend or distribution of cash or other property to
the Shareholders or any purchase, redemption or agreements to purchase or redeem
any ANC Stock;

     

    (j) any
issuance, sale, disposition or encumbrance of equity securities to any officer,
director or affiliate, except pursuant to existing ANC Stock option plans, or
any change in their outstanding shares of capital stock or their capitalization,
whether by reason of reclassification, recapitalization, stock split,
combination, exchange or readjustment of shares, stock dividend or otherwise;
or

     

    (k) any
arrangement or commitment by ANC to do any of the things described in this
Section 3.21.

     

    3.21. Disclosure. Neither
ANC nor any person acting on its behalf has provided the Shareholders or their
agents or counsel with any information that it believes constitutes material,
non-public information except insofar as the existence and terms of the proposed
transactions hereunder may constitute such information and except for
information that will be disclosed by HJH under a current report on Form 8-K
filed within four business days after the Closing. All disclosure provided to
the Shareholders regarding ANC, its business and the Transactions, furnished by
or on behalf of ANC (including ANC’s representations and warranties set forth in
this Agreement) is true and correct and does not contain any untrue statement of
a material fact or omit to state any material fact necessary in order to make
the statements made therein, in light of the circumstances under which they were
made, not misleading.

     

    3.22. Information Supplied.
None of the information supplied or to be supplied by ANC for inclusion or
incorporation by reference in the 14f-1 Notice, at the date it is first mailed
to HJH’s stockholders, contains any untrue statement of a material fact or omits
to state any material fact required to be stated therein or necessary in order
to make the statements therein, in light of the circumstances under which they
are made, not misleading.

     

    3.23. No Undisclosed Events,
Liabilities, Developments or Circumstances. No event, liability,
development or circumstance has occurred or exists, or is contemplated to occur
with respect to ANC, or its business, properties, prospects, operations or
financial condition, that would be required to be disclosed by ANC under
applicable securities laws on a registration statement on Form S-1 filed with
the SEC relating to an issuance and sale by ANC of its ANC Stock and which has
not been publicly announced.

     

    3.24. No Additional
Agreements. ANC has no agreement or understanding with the Shareholders
with respect to the Transactions other than as specified in this
Agreement.

     

     

    
      
        
        

      

      
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    ARTICLE
IV

    Representations and
Warranties of HJH

     

    HJH
represents and warrants as follows to the Shareholders and ANC:

     

    4.1. Organization, Standing and
Power. HJH is duly organized, validly existing and in good standing under
the laws of the State of Delaware and has full corporate power and authority and
possesses all governmental franchises, licenses, permits, authorizations and
approvals necessary to enable it to own, lease or otherwise hold its properties
and assets and to conduct its businesses as presently conducted, other than such
franchises, licenses, permits, authorizations and approvals the lack of which,
individually or in the aggregate, has not had and would not reasonably be
expected to have a material adverse effect on HJH, a material adverse effect on
the ability of HJH to perform its obligations under this Agreement or on the
ability of HJH to consummate the Transactions (a “ HJH Material Adverse
Effect”). HJH is duly qualified to do business in each jurisdiction where
the nature of its business or its ownership or leasing of its properties makes
such qualification necessary and where the failure to so qualify would
reasonably be expected to have a HJH Material Adverse Effect. HJH has delivered
to ANC true and complete copies of the HJH Charter and the HJH
Bylaws.

     

    4.2. Subsidiaries; Equity
Interests. HJH does not own, directly or indirectly, any capital stock,
membership interest, partnership interest, joint venture interest or other
equity interest in any person except for Halcyon Jets, Inc., a wholly-owned
subsidiary.

     

    4.3. Capital Structure.
The authorized capital stock of HJH consists of 300,000,000 shares of common
stock, $0.001 par value, 21,000 shares of Series A Preferred stock, and
9,979,000 shares of undesignated preferred stock, $0.001 par value. As of the
date hereof (a) 25,646,667 shares of HJH’s common stock are issued and
outstanding, (b) 21,000 shares of preferred stock are issued and outstanding,
and (c) no shares of HJH’s common stock or preferred stock are held by HJH in
its treasury. No shares of capital stock or other voting securities of HJH were
issued, reserved for issuance or outstanding. All outstanding shares of the
capital stock of HJH are, and all such shares that may be issued prior to the
date hereof will be when issued, duly authorized, validly issued, fully paid and
nonassessable and not subject to or issued in violation of any purchase option,
call option, right of first refusal, preemptive right, subscription right or any
similar right under any provision of Delaware general corporation law, the HJH
Charter, the HJH Bylaws or any Contract to which HJH is a party or otherwise
bound. There are not any bonds, debentures, notes or other indebtedness of HJH
having the right to vote (or convertible into, or exchangeable for, securities
having the right to vote) on any matters on which holders of HJH’s common stock
may vote (“Voting HJH
Debt”). As of the date of this Agreement, there are not any options,
warrants, rights, convertible or exchangeable securities, “phantom” stock
rights, stock appreciation rights, stock-based performance units, commitments,
Contracts, arrangements or undertakings of any kind to which HJH is a party or
by which it is bound (a) obligating HJH to issue, deliver or sell, or cause to
be issued, delivered or sold, additional shares of capital stock or other equity
interests in, or any security convertible or exercisable for or exchangeable
into any capital stock of or other equity interest in, HJH or any Voting HJH
Debt, (b) obligating HJH to issue, grant, extend or enter into any such option,
warrant, call, right, security, commitment, Contract, arrangement or undertaking
or (c) that give any person the right to receive any economic benefit or right
similar to or derived from the economic benefits and rights occurring to holders
of the capital stock of HJH. As of the date of this Agreement, there are not any
outstanding contractual obligations of HJH to repurchase, redeem or otherwise
acquire any shares of capital stock of HJH. HJH is not a party to any agreement
granting any securityholder of HJH the right to cause HJH to register shares of
the capital stock or other securities of HJH held by such securityholder under
the Securities Act.  No further approval or authorization of any
stockholder, the Board of Directors or others is required for the issuance of
the HJH Stock.  There are no stockholders agreements, voting
agreements or other similar agreements with respect to HJH’s capital stock to
which HJH is a party or, to the knowledge of HJH, between or among any of the
HJH’s stockholders.

     

    4.4. Authority; Execution and
Delivery; Enforceability. The execution and delivery by HJH of this
Agreement and the consummation by HJH of the Transactions have been duly
authorized and approved by the Board of Directors of HJH and no other corporate
proceedings on the part of HJH are necessary to authorize this Agreement and the
Transactions. This Agreement constitutes a legal, valid and binding obligation
of HJH, enforceable against HJH in accordance with the terms
hereof.

     

     

    
      
        
        

      

      
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    4.5. No Conflicts;
Consents.

     

    (a) The
execution and delivery by HJH of this Agreement does not, and the consummation
of Transactions and compliance with the terms hereof will not, contravene,
conflict with or result in any violation of or default (with or without notice
or lapse of time, or both) under, or give rise to a right of termination,
cancellation or acceleration of any obligation or to loss of a material benefit
under, or to increased, additional, accelerated or guaranteed rights or
entitlements of any person under, or result in the creation of any Lien upon any
of the properties or assets of HJH under, any provision of (i) the HJH Charter
or HJH Bylaws, (ii) any material Contract to which HJH is a party or by which
any of its properties or assets is bound or (iii) subject to the filings and
other matters referred to in Section 4.5(b), any material order or material Law
applicable to HJH or its properties or assets, other than, in the case of
clauses (ii) and (iii) above, any such items that, individually or in the
aggregate, have not had and would not reasonably be expected to have a HJH
Material Adverse Effect.

     

    (b) No
Consent of, or registration, declaration or filing with, or permit from, any
Governmental Entity is required to be obtained or made by or with respect to HJH
in connection with the execution, delivery and performance of this Agreement or
the consummation of the Transactions, other than the filing with the SEC of the
14f-1 Notice and filings under state “blue sky” laws, as may be required in
connection with this Agreement and the Transactions.

     

    4.6. SEC Documents; Undisclosed
Liabilities.

     

    (a) HJH has
filed all reports, schedules, forms, statements and other documents required to
be filed by it with the SEC since August 31, 2007, pursuant to Sections 13(a),
14(a) and 15(d) of the Exchange Act (the “ SEC Reports
”).

     

    (b) As of its
respective filing date, each SEC Report complied in all material respects with
the requirements of the Exchange Act and the rules and regulations of the SEC
promulgated thereunder applicable to such SEC Report. Except to the extent that
information contained in any SEC Report has been revised or superseded by a
later SEC Report, none of the SEC Reports contains any untrue statement of a
material fact or omits to state any material fact required to be stated therein
or necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading. The consolidated
financial statements of HJH included in the SEC Reports comply as to form in all
material respects with applicable accounting requirements and the published
rules and regulations of the SEC with respect thereto, have been prepared in
accordance with the U.S. generally accepted accounting principles (except, in
the case of unaudited statements, as permitted by the rules and regulations of
the SEC) applied on a consistent basis during the periods involved (except as
may be indicated in the notes thereto) and fairly present the consolidated
financial position of HJH and its consolidated subsidiaries as of the dates
thereof and the consolidated results of their operations and cash flows for the
periods shown (subject, in the case of unaudited statements, to normal year-end
audit adjustments).

     

    4.7. Taxes.

     

    (a) HJH has
timely filed, or has caused to be timely filed on its behalf, all Tax Returns
required to be filed by it, and all such Tax Returns are true, complete and
accurate, except to the extent any failure to file or any inaccuracies in any
filed Tax Returns, individually or in the aggregate, have not had and would not
reasonably be expected to have a HJH Material Adverse Effect. All Taxes shown to
be due on such Tax Returns, or otherwise owed, has been timely paid, except to
the extent that any failure to pay, individually or in the aggregate, has not
had and would not reasonably be expected to have a HJH Material Adverse
Effect.

     

    (b) The most
recent financial statements contained in the SEC Reports reflect an adequate
reserve for all Taxes payable by HJH (in addition to any reserve for deferred
Taxes to reflect timing differences between book and Tax items) for all Taxable
periods and portions thereof through the date of such financial statements. No
deficiency with respect to any Taxes has been proposed, asserted or assessed
against HJH, and no requests for waivers of the time to assess any such Taxes
are pending, except to the extent any such deficiency or request for waiver,
individually or in the aggregate, has not had and would not reasonably be
expected to have a HJH Material Adverse Effect.

     

    (c) There are
no Liens for Taxes (other than for current Taxes not yet due and payable) on the
assets of HJH. HJH is not bound by any agreement with respect to
Taxes.

     

    4.8. Absence of Changes in
Benefit Plans. From the date of the most recent audited financial
statements of HJH (the “HJH Financial
Statements”) to the date of this Agreement, there has not been any
adoption or amendment in any material respect by HJH of any bonus, pension,
profit sharing, deferred compensation, incentive compensation, stock ownership,
stock purchase, stock option, phantom stock, retirement, vacation, severance,
disability, death benefit, hospitalization, medical or other plan, arrangement
or understanding (whether or not legally binding) providing benefits to any
current or former employee, officer or director of HJH. As of the date of this
Agreement, there are not any employment, consulting, indemnification, severance
or termination agreements or arrangements between HJH and any current or former
employee, officer or director of HJH, nor does HJH have any general severance
plan or policy.

     

    4.9. ERISA Compliance; Excess
Parachute Payments. Except as set forth on Schedule 4.9, HJH
does not, and since its inception never has, maintained or contributed to any
“employee pension benefit plans” (as defined in Section 3(2) of ERISA),
“employee welfare benefit plans” (as defined in Section 3(1) of ERISA) or any
other HJH Benefit Plan for the benefit of any current or former employees,
consultants, officers or directors of HJH.

     

    4.10. Litigation. Except as
disclosed in the SEC Reports, there is no Action against or affecting HJH or any
of its respective properties which (a) adversely affects or challenges the
legality, validity or enforceability of either of this Agreement or the Shares
or (b) could, if there were an unfavorable decision, individually or in the
aggregate, have or reasonably be expected to result in a HJH Material Adverse
Effect. Neither HJH, nor any director or officer thereof (in his or her capacity
as such), is or has been the subject of any Action involving a claim or
violation of or liability under federal or state securities laws or a claim of
breach of fiduciary duty.

     

    4.11. Compliance with Applicable
Laws. Except as disclosed in the SEC Reports HJH is in compliance with
all applicable Laws, including those relating to occupational health and safety
and the environment, except for instances of noncompliance that, individually
and in the aggregate, have not had and would not reasonably be expected to have
a HJH Material Adverse Effect. HJH has not received any written communication
during the past two years from a Governmental Entity that alleges that it is not
in compliance in any material respect with any applicable Law. HJH is in
compliance with all effective requirements of the Sarbanes-Oxley Act of 2002, as
amended, and the rules and regulations thereunder, that are applicable to it,
except where such noncompliance could not have or reasonably be expected to
result in a HJH Material Adverse Effect. This Section 4.11 does not relate to
matters with respect to Taxes, which are the subject of Section
4.7.

     

     

    
      
        
        

      

      
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    4.12. Contracts. Except as
disclosed in the SEC Reports, there are no Contracts that are material to the
business, properties, assets, condition (financial or otherwise), results of
operations or prospects of HJH taken as a whole. HJH is not in violation of or
in default under (nor does there exist any condition which upon the passage of
time or the giving of notice would cause such a violation of or default under)
any Contract to which it is a party or by which it or any of its properties or
assets is bound, except for violations or defaults that would not, individually
or in the aggregate, reasonably be expected to result in a HJH Material Adverse
Effect.

     

    4.13. Title to Properties.
HJH has good title to, or valid leasehold interests in, all of its properties
and assets used in the conduct of its businesses. All such assets and
properties, other than assets and properties in which HJH has leasehold
interests, are free and clear of all Liens, except for Liens that, in the
aggregate, do not and will not materially interfere with the ability of HJH to
conduct business as currently conducted. HJH has complied in all material
respects with the terms of all material leases to which it is a party and under
which it is in occupancy, and all such leases are in full force and effect. HJH
enjoys peaceful and undisturbed possession under all such material
leases.

     

    4.14. Intellectual
Property. Except as disclosed in the SEC Reports, HJH does not own, nor
is validly licensed nor otherwise has the right to use, any Intellectual
Property Rights. No claims are pending or, to the knowledge of HJH, threatened
that HJH is infringing or otherwise adversely affecting the rights of any person
with regard to any Intellectual Property Right.

     

    4.15. Labor Matters. There
are no collective bargaining or other labor union agreements to which HJH is a
party or by which it is bound. No material labor dispute exists or, to the
knowledge of HJH, is imminent with respect to any of the employees of
HJH.

     

    4.16. Foreign Corrupt
Practices. Neither HJH, nor to HJH’s knowledge, any director, officer,
agent, employee or other person acting on behalf of HJH has, in the course of
its actions for, or on behalf of, HJH (a) used any corporate funds for any
unlawful contribution, gift, entertainment or other unlawful expenses relating
to political activity; (b) made any direct or indirect unlawful payment to any
foreign or domestic government official or employee from corporate funds; (c)
violated or is in violation of any provision of the U.S. Foreign Corrupt
Practices Act of 1977, as amended; or (d) made any unlawful bribe, rebate,
payoff, influence payment, kickback or other unlawful payment to any foreign or
domestic government official or employee.

     

    4.17. Transactions With Affiliates
and Employees. Except as set forth in the SEC Reports, none of the
officers or directors of HJH and, to the knowledge of HJH, none of the employees
of HJH is presently a party to any transaction with HJH (other than for services
as employees, officers and directors), including any Contract or other
arrangement providing for the furnishing of services to or by, providing for
rental of real or personal property to or from, or otherwise requiring payments
to or from any officer, director or such employee or, to the knowledge of HJH,
any entity in which any officer, director, or any such employee has a
substantial interest or is an officer, director, trustee or
partner.

     

    4.18. Solvency. Based on
the financial condition of HJH as of the Closing Date (and assuming that the
Closing shall have occurred), (a) HJH’s fair saleable value of its assets
exceeds the amount that will be required to be paid on or in respect of HJH’s
existing debts and other liabilities (including known contingent liabilities) as
they mature, (b) HJH’s assets do not constitute unreasonably small capital to
carry on its business for the current fiscal year as now conducted and as
proposed to be conducted including its capital needs taking into account the
particular capital requirements of the business conducted by HJH, and projected
capital requirements and capital availability thereof, and (c) the current cash
flow of HJH, together with the proceeds HJH would receive, were it to liquidate
all of its assets, after taking into account all anticipated uses of the cash,
would be sufficient to pay all amounts on or in respect of its debt when such
amounts are required to be paid. HJH does not intend to incur debts beyond its
ability to pay such debts as they mature (taking into account the timing and
amounts of cash to be payable on or in respect of its debt).

     

    4.19. Investment Company.
HJH is not, and is not an affiliate of, and immediately following the Closing
will not have become, an “investment company” within the meaning of the
Investment Company Act of 1940, as amended.

     

    4.20. Absence of Certain Changes
or Events. From the date of the HJH Financial Statements to the date of
this Agreement, HJH has conducted its business only in the ordinary course, and
during such period there has not been:

     

    (a) any
change in the assets, liabilities, financial condition or operating results of
HJH from that reflected in the HJH Financial Statements, except changes in the
ordinary course of business that have not caused, in the aggregate, a HJH
Material Adverse Effect;

     

    (b) any
damage, destruction or loss, whether or not covered by insurance, that would
have a HJH Material Adverse Effect;

     

    (c) any
waiver or compromise by HJH of a valuable right or of a material debt owed to
it;

     

    (d) any
satisfaction or discharge of any lien, claim, or encumbrance or payment of any
obligation by HJH, except in the ordinary course of business and the
satisfaction or discharge of which would not have a HJH Material Adverse
Effect;

     

    (e) any
material change to a material Contract by which HJH or any of its assets is
bound or subject;

     

    (f) any
material change in any compensation arrangement or agreement with any employee,
officer, director or shareholder;

     

    (g) any
resignation or termination of employment of any officer of HJH;

     

    (h) any
mortgage, pledge, transfer of a security interest in or lien created by HJH with
respect to any of its material properties or assets, except liens for taxes not
yet due or payable and liens that arise in the ordinary course of business and
that do not materially impair HJH’s ownership or use of such property or
assets;

     

    (i) any loans
or guarantees made by HJH to or for the benefit of its employees, officers or
directors, or any members of their immediate families, other than travel
advances and other advances made in the ordinary course of its
business;

     

     

    
      
        
        

      

      
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    (j) any
declaration, setting aside or payment or other distribution in respect of any of
HJH’s capital stock, or any direct or indirect redemption, purchase, or other
acquisition of any of such stock by HJH;

     

    (k) any
alteration of HJH’s method of accounting or the identity of its
auditors;

     

    (l) any
issuance of equity securities to any officer, director or affiliate, except
pursuant to existing HJH Stock option plans; or

     

    (m) any
arrangement or commitment by HJH to do any of the things described in this
Section 4.23.

     

    4.21. Disclosure. HJH
confirms that neither it nor any person acting on its behalf has provided the
Shareholders or their respective agents or counsel with any information that HJH
believes constitutes material, non-public information except insofar as the
existence and terms of the proposed transactions hereunder may constitute such
information and except for information that will be disclosed by HJH under a
current report on Form 8-K filed within four business days after the Closing.
HJH understands and confirms that the Shareholders will rely on the foregoing
representations and covenants in effecting transactions in securities of HJH.
All disclosure provided to the Shareholders regarding HJH, its business and the
transactions contemplated hereby, furnished by or on behalf of HJH (including
HJH’s representations and warranties set forth in this Agreement) are true and
correct and do not contain any untrue statement of a material fact or omit to
state any material fact necessary in order to make the statements made therein,
in light of the circumstances under which they were made, not
misleading.

     

    4.22. Information Supplied.
None of the information supplied or to be supplied by HJH for inclusion or
incorporation by reference in the 14f-1 Notice will, at the date it is first
mailed to HJH’s shareholders, contain any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary in
order to make the statements therein, in light of the circumstances under which
they are made, not misleading.

     

    4.23. Certain Registration
Matters. HJH has not granted or agreed to grant to any person any rights
(including “piggy-back” registration rights) to have any securities of HJH
registered with the SEC or any other governmental authority that have not been
satisfied.

     

    4.24. Listing and Maintenance
Requirements. HJH is, and has no reason to believe that it will not in
the foreseeable future continue to be, in compliance with the listing and
maintenance requirements for continued listing of the HJH Stock on the trading
market on which the HJH Stock is currently listed or quoted. The issuance and
sale of the Shares under this Agreement does not contravene the rules and
regulations of the trading market on which the HJH Stock are currently listed or
quoted, and no approval of the stockholders of HJH is required for HJH to issue
and deliver to the Shareholders the Shares contemplated by this
Agreement.

     

    4.25. No Undisclosed Events,
Liabilities, Developments or Circumstances. No event, liability,
development or circumstance has occurred or exists, or is contemplated to occur
with respect to HJH, or its businesses, properties, prospects, operations or
financial condition, that would be required to be disclosed by HJH under
applicable securities laws on a registration statement on Form S-1 filed with
the SEC relating to an issuance and sale by HJH of its common stock and which
has not been publicly announced.

     

    4.26. No Additional
Agreements. HJH does not have any agreements or understandings with the
Shareholders with respect to the Transactions other than as specified in this
Agreement.

     

    ARTICLE
V

    Conditions to
Closing

     

    5.1. HJH Conditions
Precedent. The obligations of the Shareholders to enter into and complete
the Closing are subject, at the option of the Shareholders, to the fulfillment
on or prior to the Closing Date of the following conditions, any one or more of
which may be waived by the Shareholders in writing:

     

    (a) Representations and
Covenants . The representations and warranties of HJH contained in this
Agreement shall be true in all material respects, on and as of the Closing Date,
with the same force and effect as though made on and as of the Closing Date. HJH
shall have performed and complied in all material respects with all covenants
and agreements required by this Agreement to be performed or complied with by it
on or prior to the Closing Date. HJH shall have delivered to the Shareholders a
certificate, dated the Closing Date, to the foregoing effect.

     

    (b) Litigation. No
action, suit or proceeding shall have been instituted before any court or
governmental or regulatory body or instituted or threatened by any governmental
or regulatory body to restrain, modify or prevent the carrying out of the
Transactions or to seek damages or a discovery order in connection with such
Transactions, or which has or may have, in the reasonable opinion or
Shareholders, a materially adverse effect on the assets, properties, business,
operations or condition (financial or otherwise) of HJH.

     

    (c) Consents. All
material consents, waivers, approvals, authorizations or orders required to be
obtained, and all filings required to be made, by HJH for the authorization,
execution and delivery of this Agreement and the consummation by it of the
transactions contemplated by this Agreement shall have been obtained and made by
HJH, except where the failure to receive such consents, waivers, approvals,
authorizations or orders or to make such filings would not have a HJH Material
Adverse Effect.

     

     

     

    
      
        
        

      

      
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    (d) No Material Adverse
Change. There shall not have been any occurrence, event, incident,
action, failure to act, or transaction since February 1, 2009 which has had or
is reasonably likely to cause a HJH Material Adverse Effect.

     

    (e) Post-Closing
Capitalization. At, and immediately after, the Closing, the authorized
capitalization, and the number of issued and outstanding shares of the capital
stock of HJH, on a fully-diluted basis, as indicated on a schedule to be
delivered by the Parties at or prior to the Closing, shall be acceptable to the
Shareholders.

     

    (f) SEC Reports. HJH
shall have filed all reports and other documents required to be filed by it
under the U.S. federal securities laws through the Closing Date.

     

    (g) OTCBB Quotation. HJH
shall have maintained its status as a company whose common stock is quoted on
the Over-the-Counter Bulletin Board and no reason shall exist as to why such
status shall not continue immediately following the Closing.

     

    (h) No Suspensions of Trading in
HJH Stock; Listing. Trading in the HJH Stock shall not have been
suspended by the SEC or any trading market (except for any suspensions of
trading of not more than one trading day solely to permit dissemination of
material information regarding HJH) at any time since the date of execution of
this Agreement, and the HJH Stock shall have been at all times since such date
listed for trading on a trading market.

     

    (i) Secretary’s
Certificate. HJH shall have delivered to the Shareholders a certificate,
signed by its Secretary or Assistant Secretary, certifying that the attached
copies of the HJH Charter, HJH Bylaws and resolutions of its Board of Directors
approving this Agreement and the Transactions are all true, complete and correct
and remain in full force and effect.

     

    (j) Good Standing
Certificate. HJH shall have delivered to the Shareholders a certificate
of good standing of HJH dated within five (5) business days of Closing issued by
the Secretary of State of Delaware.

     

    (k) Resignations and
Appointments. HJH shall have delivered to ANC letters of resignation from
each of its directors and officers resigning from their positions with HJH
effective as of the Closing and evidence of the election of (x) the persons
identified by the Shareholders as directors effective as of the
Closing.

     

    (l) Lien Searches. HJH
shall have delivered to the Shareholders the results of UCC, judgment lien and
tax lien searches with respect to HJH, the results of which indicated no liens
on the assets of HJH.

     

    (m) Release. Halcyon
Jets, Inc. and the current directors and officers of HJH and Halcyon Jets, Inc.
(the “ HJH
Parties ”) shall have executed and delivered a release in favor of HJH,
ANC and the Shareholders, in form and substance satisfactory to the
Shareholders.

     

    (n) Liabilities. HJH
shall have delivered to the Shareholders such pay-off letters and releases,
relating to any outstanding liabilities as they shall have requested, and such
pay-off letters shall be in a form and substance satisfactory to the
Shareholders; and to the extent that any such liabilities are assigned and
assumed by the HJH Parties or any third party, such assignment and assumption
agreement in a form and substance satisfactory to the Shareholders.

     

    (o) Issuance of Stock
Certificates. At or within 5 business days following the Closing, HJH
shall deliver to each Shareholder a certificate representing the new shares of
HJH Stock issued to such Shareholder in accordance with Annex B
..

     

    5.2. The Shareholders Conditions
Precedent. The obligations of HJH to enter into and complete the Closing
is subject, at the option of HJH, to the fulfillment on or prior to the Closing
Date of the following conditions, any one or more of which may be waived by HJH
in writing.

     

    (a) Representations and
Covenants. The representations and warranties of the Shareholders
contained in this Agreement shall be true in all material respects on and as of
the Closing Date with the same force and effect as though made on and as of the
Closing Date. The Shareholders shall have performed and complied in all material
respects with all covenants and agreements required by this Agreement to be
performed or complied with by ANC and the Shareholders on or prior to the
Closing Date. The Shareholders shall have delivered to HJH a certificate, dated
the Closing Date, to the foregoing effect.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

     

     

    (b) Litigation. No
action, suit or proceeding shall have been instituted before any court or
governmental or regulatory body or instituted or threatened by any governmental
or regulatory body to restrain, modify or prevent the carrying out of the
Transactions or to seek damages or a discovery order in connection with such
Transactions, or which has or may have, in the reasonable opinion of HJH, a
materially adverse effect on the assets, properties, business, operations or
condition (financial or otherwise) of ANC and the Shareholders.

     

    (c) Consents. All
material consents, waivers, approvals, authorizations or orders required to be
obtained, and all filings required to be made, by the Shareholders or ANC for
the authorization, execution and delivery of this Agreement and the consummation
by them of the transactions contemplated by this Agreement, shall have been
obtained and made by the Shareholders or ANC, except where the failure to
receive such consents, waivers, approvals, authorizations or orders or to make
such filings would not have an ANC Material Adverse Effect.

     

    (d) No Material Adverse
Change. There shall not have been any occurrence, event, incident,
action, failure to act, or transaction since the date of the ANC Financial
Statements which has had or is reasonably likely to cause an ANC Material
Adverse Effect.

     

    (e) Post-Closing
Capitalization. At, and immediately after, the Closing, the authorized
capitalization, and the number of issued and outstanding shares of the capital
stock of HJH, on a fully-diluted basis, as indicated on a schedule to be
delivered by the Parties at or prior to the Closing, shall be acceptable to the
Shareholders.

     

    (f) Satisfactory Completion of
Due Diligence. HJH shall have completed its legal, accounting and
business due diligence of ANC and the results thereof shall be satisfactory to
HJH in its sole and absolute discretion.

     

    (g) ANC Officer’s
Certificate. ANC shall have delivered to HJH a certificate, signed by its
authorized officer, certifying that the attached copies of the ANC Constituent
Instruments are all true, complete and correct and remain in full force and
effect.

     

    (h) Delivery of Audit Report and
Financial Statements. ANC shall have completed the ANC Financial
Statements and shall have received an audit report from an independent audit
firm that is registered with the Public Company Accounting Oversight Board. The
form and substance of the ANC Financial Statements shall be satisfactory to HJH
in its sole and absolute discretion.

     

    (i) Audited Financial Statements
and Form 10 Disclosure. ANC shall have provided HJH with reasonable
assurances that HJH will be able to comply with its obligation to file a current
report on Form 8-K within four (4) business days following the Closing
containing the requisite financial statements of ANC and the requisite Form
10-type disclosure regarding ANC.

     

    (j) Share Transfer
Documents. The Shareholders shall have delivered to HJH certificate(s)
representing its ANC Stock, accompanied by a duly executed instrument of
transfer for transfer by the Shareholders of its ANC Stock to HJH.

     

    ARTICLE
VI

    Covenants

     

    6.1. Preparation of the 14f-1
Notice; Blue Sky Laws.

     

    (a) As soon
as possible following the date of this Agreement, and in any event, within four
(4) business days hereafter, ANC and HJH shall prepare and file with the SEC the
14f-1 Notice in connection with the consummation of this Agreement. HJH shall
cause the 14f-1 Notice to be mailed to its stockholders as promptly as
practicable thereafter.

     

    (b) HJH shall
take any action (other than qualifying to do business in any jurisdiction in
which it is not now so qualified) required to be taken under any applicable
state securities laws in connection with the issuance of the HJH Stock in
connection with this Agreement.

     

    6.2. Public Announcements.
HJH and the Shareholders will consult with each other before issuing, and
provide each other the opportunity to review and comment upon, any press
releases or other public statements with respect to this Agreement and the
Transactions and shall not issue any such press release or make any such public
statement prior to such consultation, except as may be required by applicable
Law, court process or by obligations pursuant to any listing agreement with any
national securities exchanges.

     

    6.3. Fees and Expenses.
All fees and expenses incurred in connection with this Agreement shall be paid
by the Party incurring such fees or expenses, whether or not this Agreement is
consummated.

     

    6.4. Continued Efforts.
Each Party shall use commercially reasonable efforts to (a) take all action
reasonably necessary to consummate the Transactions, and (b) take such
steps and do such acts as may be necessary to keep all of its representations
and warranties true and correct as of the Closing Date with the same effect as
if the same had been made, and this Agreement had been dated, as of the Closing
Date.

     

     

    
      
        
        

      

      
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    6.5. Exclusivity. Neither
HJH nor the Shareholders shall (a) solicit, initiate, or encourage the
submission of any proposal or offer from any person relating to the acquisition
of any capital stock or other voting securities of HJH or ANC (as applicable),
or any assets of HJH or ANC (as applicable) (including any acquisition
structured as a merger, consolidation, share exchange or other business
combination), (b) participate in any discussions or negotiations regarding,
furnish any information with respect to, assist or participate in, or facilitate
in any other manner any effort or attempt by any person to do or seek any of the
foregoing, or (c) take any other action that is inconsistent with the
Transactions and that has the effect of avoiding the Closing contemplated
hereby. Each shall notify the other immediately if any person makes any
proposal, offer, inquiry, or contact with respect to any of the
foregoing.

     

    6.6. Filing of 8-K. HJH
shall file, within four (4) business days of the date of this Agreement and of
the Closing Date, a current report on Form 8-K with the SEC and attach as
exhibits all required agreements disclosing the terms of this Agreement and
other requisite disclosure regarding the Transactions and including the
requisite audited consolidated financial statements of ANC and the requisite
Form 10 disclosure regarding ANC.

     

    6.7. Furnishing of
Information. As long as the Shareholders own the Shares, HJH covenants to
timely file (or obtain extensions in respect thereof and file within the
applicable grace period) all reports required to be filed by HJH after the date
hereof pursuant to the Exchange Act. As long as the Shareholders own the Shares,
if HJH is not required to file reports pursuant to such laws, it will prepare
and furnish to the Shareholders and make publicly available in accordance with
Rule 144(c) promulgated by the SEC pursuant to the Securities Act, such
information as is required for the Shareholders to sell Shares under Rule 144.
HJH further covenants that it will take such further action as the Shareholder
or any subsequent holder of the Shares may reasonably request, all to the extent
required from time to time to enable such person to sell Shares without
registration under the Securities Act within the limitation of the exemptions
provided by Rule 144.

     

    6.8. Access. Each of HJH
and ANC shall permit representatives of any other parties to have full access to
all premises, properties, personnel, books, records, contracts, and documents of
or pertaining to such party.

     

    6.9. Preservation of
Business. From the date of this Agreement until the Closing Date, each of
ANC and HJH shall, except as otherwise permitted by the terms of this Agreement,
operate only in the ordinary and usual course of business consistent with its
past practices and shall use reasonable commercial efforts to (a) preserve
intact its business organization, (b) preserve the good will and advantageous
relationships with customers, suppliers, independent contractors, employees and
other Persons material to the operation of its business, and (c) not permit any
action or omission that would cause any of its representations or warranties
contained herein to become inaccurate or any of its covenants to be breached in
any material respect.

     

    ARTICLE
VII

    Miscellaneous

     

    7.1. Notices. All notices,
requests, claims, demands and other communications under this Agreement shall be
in writing and shall be deemed given upon receipt by the Parties at the
following addresses (or at such other address for a Party as shall be specified
by like notice):

     

    If to HJH, to:

     

    Halcyon
Jets Holdings, Inc.

    336 West
37th Street, 8th Floor

    New York,
New York  10019

    Attn:  Gregory
D. Cohen, CEO

     

    with a
copy to:

     

    Greenbaum,
Rowe, Smith & Davis LLP

    P. O. Box
5600

    99 Wood
Avenue South

    Woodbridge,
New Jersey 07095

    Attn:  W.
Raymond Felton

     

    If to the
Shareholders, to the address set forth in Annex B.

     

    7.2. Amendments; Waivers; No
Additional Consideration. No provision of this Agreement may be waived or
amended except in a written instrument signed by the Parties. No waiver of any
default with respect to any provision, condition or requirement of this
Agreement shall be deemed to be a continuing waiver in the future or a waiver of
any subsequent default or a waiver of any other provision, condition or
requirement hereof, nor shall any delay or omission of any Party to exercise any
right hereunder in any manner impair the exercise of any such
right.

     

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

     

    7.3. Termination.

     

    (a) The
Parties may terminate this Agreement as provided below:

     

    (i) The
Parties may terminate this Agreement by mutual written consent at any time prior
to the Closing;

     

    (ii) HJH may
terminate this Agreement by giving written notice to the Shareholders at any
time prior to the Closing (A) in the event any Shareholder has breached any
material representation, warranty, or covenant contained in this Agreement in
any material respect, HJH has notified the Shareholders of the breach, and the
breach has continued without cure for a period of twenty (20) days after the
notice of breach; or (B) if the Closing shall not have occurred on or before
July 31, 2009 by reason of the failure of any condition precedent under Section
5.2 hereof (unless the failure results primarily from HJH itself breaching any
representation, warranty, or covenant contained in this Agreement);
and

     

    (iii) The
Shareholders may terminate this Agreement by giving written notice to HJH at any
time prior to the Closing (A) in the event HJH has breached any material
representation, warranty, or covenant contained in this Agreement in any
material respect, the Shareholders have notified HJH of the breach, and the
breach has continued without cure for a period of twenty (20) days after the
notice of breach; or (B) if the Closing shall not have occurred on or before
July 31, 2009 by reason of the failure of any condition precedent under Section
5.1 hereof (unless the failure results primarily from the Shareholders breaching
any representation, warranty, or covenant contained in this
Agreement).

     

    (b) If any
party terminates this Agreement pursuant to Section 7.3(a) above, all rights and
obligations of the Parties hereunder shall terminate without any liability of
any Party to any other Party (except for any liability of any Party then in
breach).

     

    7.4. Replacement of
Securities. If any certificate or instrument evidencing any Shares is
mutilated, lost, stolen or destroyed, HJH shall issue or cause to be issued in
exchange and substitution for and upon cancellation thereof, or in lieu of and
substitution therefor, a new certificate or instrument, but only upon receipt of
evidence reasonably satisfactory to HJH of such loss, theft or destruction and
customary and reasonable indemnity, if requested. The applicants for a new
certificate or instrument under such circumstances shall also pay any reasonable
third-party costs associated with the issuance of such replacement Shares. If a
replacement certificate or instrument evidencing any Shares is requested due to
a mutilation thereof, HJH may require delivery of such mutilated certificate or
instrument as a condition precedent to any issuance of a
replacement.

     

    7.5. Remedies. In addition
to being entitled to exercise all rights provided herein or granted by law,
including recovery of damages, each Party hereto will be entitled to specific
performance under this Agreement. The Parties agree that monetary damages may
not be adequate compensation for any loss incurred by reason of any breach of
obligations described in the foregoing sentence and hereby agrees to waive in
any action for specific performance of any such obligation the defense that a
remedy at law would be adequate.

     

    7.6. Interpretation. When
a reference is made in this Agreement to a Section, such reference shall be to a
Section of this Agreement unless otherwise indicated. Whenever the words
“include”, “includes” or “including” are used in this Agreement, they shall be
deemed to be followed by the words “without limitation”.

     

    7.7. Severability. If any
term or other provision of this Agreement is invalid, illegal or incapable of
being enforced by any rule or Law, or public policy, all other conditions and
provisions of this Agreement shall nevertheless remain in full force and effect
so long as the economic or legal substance of the Transactions is not affected
in any manner materially adverse to any Party. Upon such determination that any
term or other provision is invalid, illegal or incapable of being enforced, the
Parties shall negotiate in good faith to modify this Agreement so as to effect
the original intent of the Parties as closely as possible in an acceptable
manner to the end that the Transactions are fulfilled to the extent
possible.

     

    7.8. Counterparts; Facsimile
Execution. This Agreement may be executed in one or more counterparts,
all of which shall be considered one and the same agreement and shall become
effective when one or more counterparts have been signed by each of the Parties
and delivered to the other Parties. Facsimile execution and delivery of this
Agreement is legal, valid and binding for all purposes.

     

    7.9. Entire Agreement; Third
Party Beneficiaries. This Agreement, taken together with the ANC
Disclosure Letter, (a) constitute the entire agreement and supersede all prior
agreements and understandings, both written and oral, among the Parties with
respect to the Transactions and (b) are not intended to confer upon any person
other than the Parties any rights or remedies.

     

    7.10. Governing Law. All
questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by and construed and enforced in accordance
with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof. Each party agrees that all legal
proceedings concerning the interpretations, enforcement and defense of the
transactions contemplated by this Agreement and any other Transaction Documents
(whether brought against a party hereto or its respective affiliates, directors,
officers, shareholders, employees or agents) shall be commenced exclusively in
the state and federal courts sitting in the City of New York. Each party hereby
irrevocably submits to the exclusive jurisdiction of the state and federal
courts sitting in the City of New York, borough of Manhattan for the
adjudication of any dispute hereunder or in connection herewith or with any
transaction contemplated hereby or discussed herein (including with respect to
the enforcement of any of the Transaction Documents), and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim
that it is not personally subject to the jurisdiction of any such court, that
such suit, action or proceeding is improper or is an inconvenient venue for such
proceeding.

     

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

     

    7.11. Assignment. Neither
this Agreement nor any of the rights, interests or obligations under this
Agreement shall be assigned, in whole or in part, by operation of law or
otherwise by any of the Parties without the prior written consent of each of the
other Parties. Any purported assignment without such consent shall be void.
Subject to the preceding sentences, this Agreement will be binding upon, inure
to the benefit of, and be enforceable by, the Parties and their respective
successors and assigns.

     

    IN WITNESS WHEREOF, the parties hereto have caused this Share
Exchange Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.

     

    
      IN
WITNESS WHEREOF, the parties hereto have caused this Share Exchange Agreement to
be duly executed by their respective authorized signatories as of the date first
indicated above.

       

      
        
          	 	HALCYON JET HOLDINGS,
      INC.	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/ Gregory
      D. Cohen	 
	 	 	Name:
      Gregory D. Cohen	 
	 	 	Title:
      Chief Executive Officer	 
	 	 	 	 

        

      

       

      ALLIANCE
SHAREHOLDERS:

       

       

      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                
                                                                                  
                                                                                    
                                                                                      
                                                                                        
                                                                                          
                                                                                            
                                                                                              
                                                                                                
                                                                                                  
                                                                                                    
                                                                                                      
                                                                                                        
                                                                                                          
                                                                                                            
                                                                                                              
                                                                                                                
                                                                                                                  
                                                                                                                    
                                                                                                                      
                                                                                                                        
                                                                                                                          
                                                                                                                            
                                                                                                                              
                                                                                                                                
                                                                                                                                  
                                                                                                                                    
                                                                                                                                      
                                                                                                                                        
                                                                                                                                          
                                                                                                                                            
                                                                                                                                              
                                                                                                                                                
                                                                                                                                                  
                                                                                                                                                    
                                                                                                                                                      
                                                                                                                                                        
                                                                                                                                                          	
                                                                                                                                                                  /s/ Alberta, Ltd

                                                                                                                                                                	 	

                                                                                                                                                                  /s/
      Lawler & Associates, LLP

                                                                                                                                                                
	
                                                                                                                                                                  1162489
      Alberta, Ltd.

                                                                                                                                                                	 	
                                                                                                                                                                  Lawler
      & Associates, LLP

                                                                                                                                                                
	 
      	 	 
      
	/s/
      Jarvis
      Kosowan	 	 
	
                                                                                                                                                                  Jarvis
      Kosowan

                                                                                                                                                                	 	 
      
	 
      	 	 
      
	/s/
      Larry
      Payne	 	/s/
      Melita Dalgado
	
                                                                                                                                                                  Larry
      Payne

                                                                                                                                                                	 	Melita
      Dalgado
	 
      	 	 
      
	/s/
      Rick
      Norndon	 	/s/
      Leaddog Capital, LP
	
                                                                                                                                                                  Rick
      Norndon

                                                                                                                                                                	 	Leaddog
      Capital, LP
	 
      	 	 
      
	/s/
      Leaddog
      Capital Markets, LLC	 	/s/
      Nicole Mongelli
	
                                                                                                                                                                  Leaddog
      Capital Markets, LLC

                                                                                                                                                                	 	Nicole
      Mongelli
	 
      	 	 
      
	/s/
      FSR,
      Inc.	 	/s/
      Nick Antivachis
	
                                                                                                                                                                  FSR,
      Inc.

                                                                                                                                                                	 	Nick
      Antivachis
	 
      	 	 
      
	/s/
      Brenda
      Mongelli	 	/s/
      LM
      Family Trust
	
                                                                                                                                                                  Brenda
      Mongelli

                                                                                                                                                                	 	
                                                                                                                                                                  LM
      Family Trust

                                                                                                                                                                
	 
      	 	 
      
	/s/
      John
      Costino	 	/s/
      Reback Living Trust
	
                                                                                                                                                                  John
      Costino

                                                                                                                                                                	 	Reback
      Living Trust
	 
      	 	 
      
	/s/
      Ken
      Santiamo	 	/s/
      Jacqueline Fazio
	
                                                                                                                                                                  Ken
      Santiamo

                                                                                                                                                                	 	Jacqueline
      Fazio
	 
      	 	 
      
	/s/
      Jonathan
      Schwartz	 	/s/
      Dana Hipple
	
                                                                                                                                                                  Jonathan
      Schwartz

                                                                                                                                                                	 	Dana
      Hipple
	 
      	 	 
      
	/s/
      Henry
      Wardi	 	/s/
      Walter Whitt
	
                                                                                                                                                                  Henry
      Wardi

                                                                                                                                                                	 	Walter
      Whitt
	 
      	 	 
      
	/s/
      Demitri
      Argyros	 	/s/
      Walter Whitt
	
                                                                                                                                                                  Demitri
      Argyros

                                                                                                                                                                	 	
                                                                                                                                                                  Rodney
      Leibowitz

                                                                                                                                                                
	 
      	 	 
      
	 	 	 
	
                                                                                                                                                                  Philip
      Forman

                                                                                                                                                                	 	 
      
	 
      	 	 
      
	 
      	 	 
      

                                                                                                                                                        

                                                                                                                                                      

                                                                                                                                                    

                                                                                                                                                  

                                                                                                                                                

                                                                                                                                              

                                                                                                                                            

                                                                                                                                          

                                                                                                                                        

                                                                                                                                      

                                                                                                                                    

                                                                                                                                  

                                                                                                                                

                                                                                                                              

                                                                                                                            

                                                                                                                          

                                                                                                                        

                                                                                                                      

                                                                                                                    

                                                                                                                  

                                                                                                                

                                                                                                              

                                                                                                            

                                                                                                          

                                                                                                        

                                                                                                      

                                                                                                    

                                                                                                  

                                                                                                

                                                                                              

                                                                                            

                                                                                          

                                                                                        

                                                                                      

                                                                                    

                                                                                  

                                                                                

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

      
 

    

    

    

    

    ANNEX A

    Definitions

     

                         “Action” means any
action, suit, inquiry, notice of violation, proceeding (including any partial
proceeding such as a deposition) or investigation pending or threatened in
writing before or by any court, arbitrator, governmental or administrative
agency, regulatory authority (federal, state, county, local or foreign), stock
market, stock exchange or trading facility.

     

                         “Agreement” has the
meaning set forth in the Preamble of this Agreement.

     

    “ANC ” has the meaning
set forth in the Preamble of this Agreement.

     

                        “ANC Benefit Plans”
has the meaning set forth in Section 3.7 of this Agreement.

     

                         “ANC Constituent
Instruments” means the memorandum and articles of association of ANC and
such other constituent instruments of ANC as may exist, each as amended to the
date of this Agreement.

     

                 “ANC Financial
Statements” has the meaning set forth in Section 3.17 of this
Agreement.

     

                         “ANC Material Adverse
Effect” has the meaning set forth in Section 3.1 of this
Agreement.

     

                         “ANC Stock ” has the
meaning set forth in the Background Section of this Agreement.

     

                     “Closing” has the
meaning set forth in Section 1.2 of this Agreement.

     

                         “Closing Date” has the
meaning set forth in Section 1.2 of this Agreement.

     

                         “Consent” means any
material consent, approval, license, permit, order or
authorization.

     

                         “Contract” means any
contract, lease, license, indenture, note, bond, agreement, permit, concession,
franchise or other instrument.

     

                         “Exchange Act” means
the Securities Exchange Act of 1934, as
amended.    

     

                         “Governmental Entity”
means any federal, state, local or foreign government or any court of competent
jurisdiction, administrative agency or commission or other governmental
authority or instrumentality, domestic or foreign.

     

    “HJH” has the meaning
set forth in the Preamble of this Agreement.

     

                         “HJH Bylaws” means the
Bylaws of HJH, as amended to the date of this Agreement.

     

                         “HJH Charter” means
the Articles of Incorporation of HJH, as amended to the date of this
Agreement.

     

                         “HJH Financial
Statements” has the meaning set forth in the Section 4.8 of this
Agreement.

     

     

     

     

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

     

     

                         “HJH Material Adverse
Effect” has the meaning set forth in the Section 4.1 of this
Agreement.

     

                         “HJH Stock” has the
meaning set forth in the Background Section of this Agreement.

     

                         “HJH Stockholders” has
the meaning set forth in Section 5.1(n) of this Agreement.

     

                         “Intellectual Property
Right” means any patent, patent right, trademark, trademark right, trade
name, trade name right, service mark, service mark right, copyright and other
proprietary intellectual property right and computer program.

     

                         “Law” means any
statute, law, ordinance, rule, regulation, order, writ, injunction, judgment, or
decree.

     

                         “Lien” means any lien,
security interest, pledge, equity and claim of any kind, voting trust,
Shareholder agreement and other encumbrance.

     

                         “Party” has the
meaning set forth in the Preamble of this Agreement.

     

                         “SEC” means the
Securities and Exchange Commission.

     

                         “SEC Reports” has the
meaning set forth in Section 4.6 of this Agreement.

     

                         “Securities Act” means
the Securities Act of 1933, as amended.

     

                         “Shares” has the
meaning set forth in the Background Section of this Agreement.

     

                         “Shareholders” has the
meaning set forth in the Preamble of this Agreement.

     

                         “Taxes” means all
forms of taxation, whenever created or imposed, and whether of the United States
or elsewhere, and whether imposed by a local, municipal, governmental, state,
foreign, federal or other Governmental Entity, or in
connection with any agreement with respect to Taxes, including all interest,
penalties and additions imposed with respect to such amounts.

     

                         “Tax Return” means all
federal, state, local, provincial and foreign Tax returns, declarations,
statements, reports, schedules, forms and information returns and any amended
Tax return relating to Taxes.

     

                         “Transactions” has the
meaning set forth in Section 1.2 of this Agreement.

     

                         “Transaction
Documents” means this Agreement and any other documents or agreements
executed in connection with the Transactions.

     

                         “Voting HJH Debt ” has
the meaning set forth in Section 4.3 of this Agreement.

     

                         “Voting ANC Debt ” has
the meaning set forth in Section 3.3 of this Agreement.

     

     

     

     

    20

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