Document:

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Exhibit 10.1

	
SERVICES AGREEMENT

THIS AGREEMENT is made and entered by and between: Encorium Group, (the “Client”) with offices at One Glenhardie Corporate Center, 1275 Drummers Lane, Suite 100Wayne, PA 19087 and Penn Valley Management Group, LLC
(the “Service Provider”), with offices at 435 Devon Park Drive, Building 700, Wayne, PA 19087.

WHEREAS, the Service Provider has expertise in particular areas relevant to the Client’s business initiatives with respect to financial and business matters, including strategic business planning and positioning,
corporate and capital development, and other matters of business and financial nature.

WHEREAS, the Service Provider desires to provide the Client with services that draw upon such expertise; and

WHEREAS, the Client desires to engage the Service Provider that draw upon the Service Provider’s expertise as defined in this Agreement;

NOW THEREFORE, in consideration of the mutual promises and terms herein contained, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged; and intending to be legally bound
hereby, the parties hereto agree as follows:

	
I. Scope of Services

The Service Provider agrees to provide to the Client under the terms and conditions of this Agreement the services (the "Services" and/ or “Work Product”) more fully described in Addendum No. 1 to this Agreement.
Any additional work contracted for outside the scope of the original scope of this Agreement will be set forth in a separate Addendum to the Agreement to be executed by the respective parties prior to the commencement of such additional
services.

Such Services shall be performed with the authorization of, and under the direction of, authorized representatives of the Client.

The Service Provider is not, nor shall it be deemed to be at any time during the term of this Agreement, an employee of Client. Its status and relationship with Client shall be that of an independent contractor. Nothing
herein shall create, expressly or by implication, a partnership, joint venture or other association between Client and Service Provider.

	
II. Term, Termination and Cancellation

Client or Service Provider may, at any time, terminate this Agreement, effective upon the receipt by the non-terminating party of written notice 30 days prior to the intended termination date. In the event of termination,
neither party shall be subject to liability under this Agreement; except that Client shall pay the Service Provider for Services rendered and expenses incurred up to and including the date of termination. Upon termination of this Agreement, the
parties shall promptly return to each other all written matter of any type which may contain Confidential Information, as defined in Section IV hereof, and any equipment belonging to one party which may have been provided by that party to the other
during the term of the Agreement.

As distinct from termination, Client may at any time cancel the performance of all or any portion of the Services to be provided under any Addendum upon written notice to the Service Provider stating Client’s intention
to cancel and specifying the portion of the Services to be canceled and the date upon which such 

cancellation shall be effective. In the event of such cancellation, Client shall pay Service Provider for Services rendered and expenses incurred up to and including the date of cancellation of such Services.

	
III. Compensation

As consideration for the Service Provider’s services, Client shall make timely payment to the Service Provider for fees related to such services upon presentation of monthly invoices. The fees for this engagement are
set forth in Addendum No. 1 to this Agreement. 

Any changes to the scope of Services outlined herein and in the Addendum hereto, may result in adjustments to these fees. Any changes to the scope of, and fees associated with, the Services will be set forth in writing and
authorized by the appropriate representatives of each party. 

	
IV. Confidential Information

The Service Provider shall not disclose, copy or distribute, or use for its own benefit or for the benefit of any third party, any Confidential Information to any third party except with the expressed written consent of the
Client. Nor shall the Service Provider use such Confidential Information for his own benefit or for the benefit of any third party. “Confidential Information” shall mean written, documentary, or oral information of any kind, including but
not limited to information of business, planning, marketing or technical nature, and models, tools, hardware and software disclosed by the Client to the Service Provider and marked at the time of such disclosure “confidential” or
“proprietary.” “Confidential Information” shall not include, and the Service Provider shall have no obligations concerning disclosure of information which: (a) is generally available or known to the public (b) was known by the
Service Provider previous to this Agreement; (c) was developed by the Service Provider independently of this Agreement; or (d) was disclosed to the Service Provider by a third party under no obligation of confidentiality to Client. Upon the
expiration or termination of the Agreement for any reason, the Service Provider, upon request, shall return to the Client any and all Confidential Information received in the course of the performance of obligations under this Agreement.

Upon completion of the specified deliverables stipulated by any Addendum of this Agreement, the Client shall legally be entitled to and maintain ownership of any materials, computer programs, files, work papers, work
product, technical code and specifications, site domain registration. The Service Provider will be required to immediately submit any or all of these items to the Client upon request.

2

	
V. Severability

If any provision of this Agreement or the application thereof, shall, for any reason and to any extent, be invalid, unenforceable, the remainder of this Agreement and application of such provisions to other persons or
circumstances shall not be affected thereby, but rather shall be enforceable to the maximum extent permissible under applicable law.

The failure of either party to enforce any condition, right, or covenant of the Agreement at any time shall not be construed as a waiver of such condition, right or covenant, nor shall said party forfeit any rights to
future enforcement of the terms of this Agreement.

	
VI. Miscellaneous

This Agreement and the Addendum (s) hereto contain the entire understanding of the parties with respect to the matter contained herein. There are no promises, covenants or undertakings other than those expressly set forth
herein and this Agreement merges all prior writings, discussions and understandings.

This Agreement shall be governed by and construed in accordance with the laws of the State in which the Client is incorporated without regard to its conflict of laws rules.

	
VII. Client Representatives

Client Representatives authorized to direct the Service Provider in the performance of assignments are identified below as:

Dr. Kai E. Lindevall MD, PhD, Chief Executive Officer

	
VIII. Delivery of Product or Services

Assignments completed by the Service Provider shall be delivered to the Client representatives identified below:

	 	
Same individuals as noted in Section VII above.

3

IN WITNESS WHEREOF, the parties hereto have executed this Agreement to become effective as of the date set forth below.

	 	
Signed:

	 	
/s/ Philip L. Calamia

Philip L. Calamia

	 	
Partner

	 	
Date: May 8, 2008

	 	
/s/ Christopher F. Meshginpoosh

Director and Audit Committee Chair

	 	
Date: April 22, 2008

4

	
Professional Services Agreement

Addendum No. 1 – Summary of Services and Related Fees

Overview of Project Scope

1. Financial and Operational Management Services

PVG has been retained by Encorium Group to provide interim Chief Financial Officer Services until such time the Company retains a permanent CFO. Our understanding is that we will collaborate with Mr. Larry Hoffman, outgoing
CFO, on a transition plan and with the Encorium Management Team under the leadership and direction of Dr. Kai E. Lindevall MD, PhD, Chief Executive Officer. 

The duties and responsibilities include but are not limited to the following:

	
·  
		
 		
Interface with Encorium Management Team in the capacity of Chief Financial Officer 
	
	
·  
		
 		
Supervise finance and accounting staff as agreed and deemed appropriate by Management 
	
	
·  
		
 		
Direct the reporting requirements of the business (internal and external) 
	
	
·  
		
 		
Negotiate contracts with customers 
	
	
·  
		
 		
In collaboration with Management, facilitate the preparation for any Board meetings 
	
	
·  
		
 		
Attend and participate in Management Meetings and Board Meetings, if any 
	
	
·  
		
 		
Work with Management to identify process improvements and assist in their implementation 
	

Philip L. Calamia, Partner of the Financial & Operational Management Services Practice at PVG, will serve as the Partner- in- Charge of this engagement and will serve as interim CFO for the duration of this engagement.
He will have responsibility and direct involvement for the engagement.

	 	
2. Capital Development Services

Encorium may also retain Penn Valley Group to find and source capital for future, potential capital transactions. PVG will collaborate with Encorium Management to understand and define the requirements for the engagement.
PVG’s role may include efforts directly but not limited to:

	
Define and Affirm Corporate Objectives and Priorities
	
Define the Key Milestones of the Fundraising Process
	
Appropriately Size the Amount and Type of Financing Required
	
Assess and Qualify Funding Sources
	
Structure and Negotiate Preliminary Valuation and Terms and Conditions
	
Create Competitive Tension in the Process
	
Coordinate the Due Diligence Process
	
Finalize the Definitive Terms and Documentation
	
Support Post-closing Administration

	
Fee and Expenses

	
1.      		
The fee for the aforementioned services related to the Financial and Operational Management Services will be $2,500/ per day for Mr. Calamia.	
	 
	
2.      		
The fee for the aforementioned services related to the Capital Development Services will be determined at a later date once the parties agree on scope of assignment and timing for execution.	
	 

5

Generally, the fee structure would be a monthly retainer, plus a success fee at closing of the financing.

The fees will be billed bi-monthly, on or around the 15th and 31st of each month for the previous period. 

All invoices are due upon receipt. All customary out-of-pocket expenses related to travel or entertainment would be reimbursed at 100% based on the presentation of appropriate documentation. Any individual expense over
$25 would need to be approved in advance by the Company.

	 	
Signed:

	 	
/s/ Philip L. Calamia

Philip L. Calamia

	 	
Partner

	 	
Date: May 8, 2008

	 	
/s/ Christopher F. Meshginpoosh

Director and Audit Committee Chair

	 	
Date: April 22, 2008

6Second Amendment to Credit Agreement

 Exhibit 10.3 
 SECOND AMENDMENT TO CREDIT AGREEMENT 
 THIS SECOND AMENDMENT TO CREDIT AGREEMENT dated as of
April 24, 2008 (this “Amendment”), by and among ABX HOLDINGS, INC. a Delaware corporation (“Holdings”), ABX AIR, INC., a Delaware corporation (“ABX”), CARGO HOLDINGS INTERNATIONAL, INC.
(successor by merger to CHI Acquisition Corp.), a Florida corporation (“CHI”, together with ABX, the “Borrowers”), each of the financial institutions party hereto as “Lenders” (the
“Lenders”) and SUNTRUST BANK, in its capacity as Administrative Agent (in such capacity, the “Administrative Agent”). 
 W I T N E S S E T H: 
 WHEREAS, Holdings, the Borrowers, the Lenders and the Administrative Agent are
parties to that certain Credit Agreement dated as of December 31, 2007, as amended by that certain First Amendment to Credit Agreement dated as of January 18, 2008 (as so amended, the “Credit Agreement”); and 

WHEREAS, Holdings, the Borrowers, the Lenders and the Administrative Agent desire to amend Section 9.15 and Section 10.4 of the Credit
Agreement on the terms and conditions hereof. 
 NOW, THEREFORE, for and in consideration of the above premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the Lenders, the Administrative Agent, Holdings and the Borrowers hereby agree as follows: 
 1. Defined Terms. Capitalized terms which are used herein without definition and which are defined in the Credit Agreement shall have the
same meanings herein as in the Credit Agreement. 
 2. Limited Amendments. 
 (a) The Credit Agreement is hereby amended by deleting the defined term “Escrow Agreement” set forth in Section 1.1 thereof and
substituting in lieu thereof the following: 
 “Escrow Agreement” shall mean that certain Escrow Agreement
dated as of the date hereof among Holdings, ABX, the Buyers and Wells Fargo Bank, National Association, as escrow agent thereunder (the “Escrow Agent”), as amended by that certain First Amendment to Escrow Agreement dated as of March
    , 2008 among Holdings, ABX, the Buyers and the Escrow Agent. 
 (b) The Credit Agreement is hereby further
amended by deleting Section 9.15 thereof in its entirety and substituting in lieu thereof the following: 

 “Section 9.15. Capital Expenditures. Holdings will not, and will not permit any of its
Subsidiaries to: 
 (a) make or incur any Capital Expenditures, in any period indicated immediately below, in an aggregate
amount for Holdings and its Subsidiaries in excess of the corresponding amount set forth below opposite such period; 
  

				
	 Period
	  	Capital
Expenditures
	 January 1, 2008 through June 30, 2008
	  	$	115,000,000
	 January 1, 2008 through September 30, 2008
	  	$	140,000,000

 (b) make or incur any Capital Expenditures if, after giving effect to such
proposed Capital Expenditure (and assuming such Capital Expenditure were made during the relevant Test Period), the CapEx Ratio at the end of the immediately preceding Test Period would be less than the ratio set forth below opposite such date:

  

			
	 Fiscal Quarter End Date
	  	CapEx Ratio
	 December 31, 2008
	  	1.25 to 1.00
	 Each Fiscal Quarter thereafter
	  	1.05 to 1.00

 For the purposes of calculating the financial covenant set forth in this Section,
the Relief Fund shall be deemed not to be a ‘Subsidiary.’” 
 (c) The Credit Agreement is hereby further amended by deleting
the second proviso set forth in Section 10.4 thereof and inserting in lieu thereof the following: 
 “provided,
further, that delivery to ABX of the DHL Prepayment Demand (as defined in the Escrow Agreement) dated January 14, 2008 (the “Initial DHL Demand”) shall not constitute an Event of Default under this Section;
provided, further, that (a) the occurrence of a default or event of default under the DHL Note or the delivery to any Credit Party of a DHL Prepayment Demand subsequent to the Initial DHL Demand and/or (b) any action, suit or
proceeding is taken by any holder of the DHL Note, either at law or in equity, for the enforcement, collection or realization on the whole or any part of the DHL Note (either of the foregoing events described in clauses (a) or (b) above,
an “Enforcement Event”) shall constitute an immediate Event of Default under this Section unless all of the following conditions are satisfied: (1) the Escrow Agreement is in full force and effect at the time of such
Enforcement Event, (2) within five (5) Business Days (or such later date, not to 

  

 -2- 

 
exceed ten (10) additional Business Days, as the Administrative Agent may agree) after such Enforcement Event, no less than $61,000,000 plus the
ABX Funds (as defined in the Escrow Agreement) are distributed to DHL (as defined in the Escrow Agreement) pursuant to the Escrow Agreement and (3) 100% of all such proceeds are used to repay or prepay the DHL Note in accordance with the terms
of the Escrow Agreement; or” 
 3. Conditions Precedent to Effectiveness. The effectiveness of this Amendment is subject
to the truth and accuracy of the representations set forth in Sections 4 and 5 below and receipt by the Administrative Agent of each of the following, each of which shall be in form and substance satisfactory to Administrative Agent: 
 (a) This Amendment, duly executed and delivered by Holdings, the Borrowers, the Required Lenders and the Administrative Agent; 
 (b) A Reaffirmation of Obligations under Credit Documents, duly executed by each of the parties thereto, in the form attached to this Amendment; and

 (c) Such other documents as the Administrative Agent may reasonably request. 
 4. Representations of Holdings and the Borrowers. Holdings and the Borrowers represent and warrant to the Administrative Agent and the
Lenders that: 
 (a) Power and Authority. Holdings and the Borrowers have the power and authority to execute, deliver and perform the
terms and provisions of this Amendment, and have taken all necessary corporate action to duly authorize the execution, delivery and performance by them of this Amendment. Each of this Amendment and the Credit Agreement, as amended by this Amendment,
constitutes the legal, valid and binding obligation of Holdings and the Borrowers enforceable in accordance with its terms, except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws generally affecting creditors’ rights and by equitable principles. 
 (b) No Violation. The
execution, delivery and performance by Holdings and the Borrowers of this Amendment, and compliance by them with the terms and provisions of the Credit Agreement, as amended by this Amendment: (i) will not contravene any provision of any law,
statute, rule or regulation or any order, writ, injunction or decree of any court or federal, state or local governmental authority, (ii) will not conflict with or result in any breach of any of the terms, covenants, conditions or provisions
of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any lien upon any of the property or assets of Holdings, the Borrowers or any of their respective Subsidiaries pursuant to the
terms of any indenture, mortgage, deed of trust, credit agreement or loan agreement, or any other agreement, contract or instrument, to which Holdings, the Borrowers or any of their respective Subsidiaries is a party or by which they or any of their
property or assets is bound or to which they may be subject or (iii) will not violate any provision of the certificate of incorporation or bylaws of Holdings or the Borrowers. 
  

 -3- 

 (c) Governmental Approvals. No order, consent, approval, license, authorization or validation of,
or filing, recording or registration with (except for those that have otherwise been obtained or made on or prior to the date of the effectiveness of this Amendment and which remain in full force and effect on such date), or exemption by, any
Governmental Authority, is required to authorize, or is required in connection with, (i) the execution, delivery and performance of this Amendment by Holdings or the Borrowers or (ii) the legality, validity, binding effect or
enforceability of the Credit Agreement, as amended by this Amendment, against Holdings or the Borrowers. 
 (d) No Default. No Default
or Event of Default now exists or will exist immediately after giving effect to this Amendment. 
 5. Reaffirmation of
Representations. Holdings and the Borrowers hereby repeat and reaffirm all representations and warranties made by them to the Administrative Agent and the Lenders in the Credit Agreement and the other Credit Documents to which they are a
party on and as of the date hereof (and after giving effect to this Amendment) with the same force and effect as if such representations and warranties were set forth in this Amendment in full (except to the extent that such representations and
warranties relate expressly to an earlier date, in which case such representations and warranties were true and correct as of such earlier date). 
 6. No Further Amendments; Ratification of Liability. Except as expressly amended hereby, the Credit Agreement and each of the other Credit Documents shall remain in full force and effect in accordance with their respective
terms. Holdings and the Borrowers hereby ratify, confirm and reaffirm their respective liabilities, payment and performance obligations (contingent or otherwise) and their agreements under the Credit Agreement and the other Credit Documents to the
extent Holdings or the Borrowers are a party thereto, all as amended by this Amendment, and the liens and security interests granted, created and perfected thereby. The Lenders’ agreement to the terms of this Amendment or any other amendment of
the Credit Agreement or any other Credit Document shall not be deemed to establish or create a custom or course of dealing among Holdings, the Borrowers or the Lenders, or any of them. This Amendment contains the entire agreement among Holdings, the
Borrowers and the Lenders contemplated by this Amendment. This Amendment shall be deemed to be a “Credit Document” for all purposes under the Credit Agreement. 
 7. Other Provisions. 
 (a) Except for the amendments expressly set forth and referred to above,
the provisions of the Credit Agreement and the other Credit Documents shall remain unchanged and in full force and effect, and the Lenders and the Administrative Agent hereby reserve the right to require strict compliance with the terms and
conditions of the Credit Agreement and the other Credit Documents in the future. Holdings and the Borrowers hereby restate, ratify and reaffirm each and every term, covenant and condition set forth in the Credit Agreement and the other Credit
Documents effective as of the date hereof. 
  

 -4- 

 (b) This Amendment may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed and delivered shall be deemed to be an original, and all counterparts, taken together, shall constitute but one and the same document. 
 (c) The Borrowers agree to reimburse the Lenders and the Administrative Agent on demand for all reasonable costs and expenses (including, without
limitation, reasonable attorneys’ fees) incurred by such parties in negotiating, documenting and consummating this Amendment, the other documents referred to herein, and the transactions contemplated hereby and thereby. 
 (d) THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK. 
 (e) THIS AMENDMENT CONSTITUTES THE ENTIRE CONTRACT AMONG THE PARTIES HERETO RELATING TO THE SUBJECT MATTER HEREOF AND SUPERSEDES ANY AND ALL PREVIOUS
DISCUSSIONS, CORRESPONDENCE, AGREEMENTS AND OTHER UNDERSTANDINGS, WHETHER ORAL OR WRITTEN, RELATING TO THE SUBJECT MATTER HEREOF. 
 (f) In
consideration of the amendments contained herein, Holdings and the Borrowers hereby waive and release each of the Lenders and the Administrative Agent from any and all claims and defenses, whether known or unknown, with respect to the Credit
Agreement and the other Credit Documents and the transactions contemplated thereby. 
 (g) THE PARTIES HERETO HAVE ENTERED INTO THIS
AMENDMENT SOLELY TO AMEND TERMS OF THE CREDIT AGREEMENT. THE PARTIES DO NOT INTEND THIS AMENDMENT NOR THE TRANSACTIONS CONTEMPLATED HEREBY TO BE, AND THIS AMENDMENT AND THE TRANSACTION CONTEMPLATED HEREBY SHALL NOT BE CONSTRUED TO BE, A NOVATION OF
ANY OF THE OBLIGATIONS OWING BY HOLDINGS OR THE BORROWERS UNDER OR IN CONNECTION WITH THE CREDIT AGREEMENT OR ANY OF THE OTHER CREDIT DOCUMENTS. 
 [Signature Pages Follow] 
  

 -5- 

 IN WITNESS WHEREOF, Holdings, the Borrowers, the Lenders and the Administrative Agent have caused this
Second Amendment to Credit Agreement to be duly executed by their respective duly authorized officers and representatives as of the day and year first above written. 
  

			
	ABX AIR, INC.
		
	By:	 	  

	Name:	 	Quint O. Turner
	Title:	 	Vice President, Treasurer
	
	CARGO HOLDINGS INTERNATIONAL, INC.
		
	By:	 	  

	Name:	 	Todd A. Hunter
	Title:	 	Treasurer
	
	ABX HOLDINGS, INC.
		
	By:	 	  

	Name:	 	Quint O. Turner
	Title:	 	Chief Financial Officer
	
	 SUNTRUST BANK, in its capacities as a Lender and as Administrative Agent

		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signatures Continue on Following Pages] 

			
	 REGIONS BANK, as a Lender

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	 FIFTH THIRD BANK, as a Lender

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	MERRILL LYNCH COMMERICAL FINANCE CORP., as a Lender
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	CITIZENS BANK OF PENNSYLVANIA, as a Lender
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	 THE PRIVATE BANK, as a Lender

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	 HUNTINGTON NATIONAL BANK, as a Lender

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	LASALLE BANK NATIONAL ASSOCIATION, as a Lender
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	THE NORTHERN TRUST COMPANY, as a Lender
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	PNC BANK, NATIONAL ASSOCIATION, as a Lender
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	ATLANTIC CAPITAL BANK, as a Lender
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	SECOND BANK & TRUST, as a Lender
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	TRISTATE CAPITAL BANK, as a Lender
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

			
	FIRSTMERIT BANK, N.A., as a Lender
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Pages] 
 [Signature Page to Second Amendment to Credit Agreement with ABX Air, Inc.] 

 REAFFIRMATION OF OBLIGATIONS UNDER CREDIT DOCUMENTS 
 Each of the undersigned hereby reaffirms its continuing obligations owing to the Administrative Agent and the Lenders under each Credit Document to which
such Person is a party and agrees that the following shall not in any way affect the validity and enforceability of any such Credit Document, or reduce, impair or discharge the obligations (including the guaranty obligations of such Persons) or
collateral of such Person granted to the Lenders thereunder: (a) the amendments contained in the foregoing Second Amendment to Credit Agreement (the “Second Amendment”); and (b) any of the other transactions contemplated
by the Second Amendment. Further, each of the undersigned hereby consents to the Second Amendment. 
 This reaffirmation shall be construed
in accordance with and be governed by the law (without giving effect to the conflict of law principles thereof) of the State of New York, and may be executed in as many counterparts as the undersigned deems convenient. 
 [Signature Pages Follow] 

 IN WITNESS WHEREOF, each of the undersigned has duly executed and delivered this Reaffirmation of
Obligations under Credit Documents as of April     , 2008. 
  

			
	ABX HOLDINGS, INC.
	ABX CARGO SERVICES, INC.
	ABX MATERIAL SERVICES, INC.
	FIRST SUBSIDIARY CORPORATION
		
	By:	 	  

	Name:	 	Quint O. Turner
	Title:	 	Chief Financial Officer
	
	727 AIRCRAFT ONE, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	727 AIRCRAFT TWO, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	757 AIRCRAFT ONE, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	767 AIRCRAFT ONE, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signatures Continue on Following Pages] 

			
	 AIR TRANSPORT INTERNATIONAL LIMITED LIABILITY COMPANY

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 CAPITAL CARGO INTERNATIONAL AIRLINES, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 CAPITAL CARGO REAL ESTATE HOLDINGS, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 CAPITAL LOGISTICS, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 CARGO AIRCRAFT MANAGEMENT, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 CARGO AVIATION, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 CARGO HOLDINGS INTERNATIONAL, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signatures Continue on Following Page] 

			
	 DC-8 AIRCRAFT ONE, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 DC-8 AIRCRAFT TWO, LLC

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 FREIGHTER SERVICES GROUP, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 LGSTX FUEL MANAGEMENT, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 LGSTX GROUP, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 LGSTX SERVICES, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signature Page to Reaffirmation of Obligations]

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