Document:

FIRST AMENDMENT TO REVOLVING CREDIT, TERM LOAN, EQUIPMENT LINE OF
                          CREDIT AND SECURITY AGREEMENT

      THIS FIRST AMENDMENT TO REVOLVING CREDIT, TERM LOAN, EQUIPMENT LINE OF
CREDIT AND SECURITY AGREEMENT (this "Agreement") is entered into November 10,
2006 by and among AIR INDUSTRIES MACHINING, CORP. (as successor by merger with
Gales Industries Acquisition Corp., Inc.), a corporation organized under the
laws of the State of New York ("Borrower"), the financial institutions which are
now or which hereafter become a party hereto (collectively, the "Lenders" and
individually a "Lender") and PNC BANK, NATIONAL ASSOCIATION ("PNC"), as agent
for Lenders (PNC, in such capacity, the "Agent").

                                    RECITALS

      Whereas, the Borrower and PNC entered into a certain Revolving Credit,
Term Loan, Equipment Line of Credit and Security Agreement dated November 30,
2005 (as is being and may be further amended, replaced, restated, modified
and/or extended, the "Loan Agreement"); and

      Whereas, Borrower and PNC have agreed to modify the terms of the Loan
Agreement as set forth in this Agreement.

      Now, therefore, in consideration of PNC's continued extension of credit
and the agreements contained herein, the parties agree as follows:

                                    AGREEMENT

1)    ACKNOWLEDGMENT OF BALANCE. Borrower acknowledges that the most recent
      statement of account sent to Borrower with respect to the Obligations is
      correct.

2)    MODIFICATIONS. The Loan Agreement be and hereby is modified as follows:

      (a)   The following definitions in Section 1.2 of the Loan Agreement are
            hereby deleted, and are replaced to read as follows:

      "Advances" shall mean and include the Revolving Advances and as well as
      Letters of Credit, the Term Loan, the Converted Equipment Loans and the
      Equipment Loans.

      "Commitment Percentage" of any Lender shall mean the percentage set forth
      below such Lender's name on the signature page hereof as same may be
      adjusted upon any assignment by a Lender pursuant to Section 15.3(c) or
      (d) hereof.

      "Purchasing Lender" shall have the meaning set forth in Section 15.3(c)
      hereof.

      "Revolving Advances" shall mean the Advances made other than Letters of
      Credit, Equipment Loans, the Converted Equipment Loans and the Term Loan.

      "Transferee" shall have the meaning set forth in Section 15.3(d) hereof.

      (b)   The following definitions are hereby added to Section 1.2 of the
            Loan Agreement to read as follows:

      "Issuer" shall mean any Person who issues a Letter of Credit and/or
      accepts a draft pursuant to the terms hereof.

      "Letter of Credit Fees" shall have the meaning set forth in Section 3.11.

      "Letter of Credit Borrowing" shall have the meaning set forth in Section
      2.17(d).

      "Letter of Credit Sublimit" shall mean $500,000.

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      "Letters of Credit" shall have the meaning set forth in Section 2.14.

      "Maximum Face Amount" shall mean, with respect to any outstanding Letter
      of Credit, the face amount of such Letter of Credit including all
      automatic increases provided for in such Letter of Credit, whether or not
      any such automatic increase has become effective.

      "Maximum Undrawn Amount" shall mean with respect to any outstanding Letter
      of Credit, the amount of such Letter of Credit that is or may become
      available to be drawn, including all automatic increases provided for in
      such Letter of Credit, whether or not any such automatic increase has
      become effective.

      "Modified Commitment Transfer Supplement" shall have the meaning set forth
      in Section 15.3(d).

      "Participation Commitment" shall mean each Lender's obligation to buy a
      participation of the Letters of Credit issued hereunder.

      "Purchasing CLO" shall have the meaning set forth in Section 15.3(d)
      hereof.

      "Register" shall have the meaning set forth in Section 15.3(e).

      "First Amendment Closing Date" shall mean November 10, 2006.

      (c)   The initial paragraph of Subsection 2.1(a) of the Loan Agreement is
            deleted, and is replaced by a new initial paragraph of Subsection
            2.1(a) to read as follows:

                  (a) Amount of Revolving Advances. Subject to the terms and
      conditions set forth in this Agreement including Section 2.1(b), each
      Lender, severally and not jointly, will make Revolving Advances to
      Borrower in aggregate amounts outstanding at any time equal to such
      Lender's Commitment Percentage of the lesser of (x) the Maximum Revolving
      Advance Amount less the aggregate Maximum Undrawn Amount of all
      outstanding Letters of Credit or (y) an amount equal to the sum of:

      (d)   Subsection 2.4(a) of the Loan Agreement is deleted, and is replaced
            by a new Subsection 2.4(a) to read as follows:

                  (a) Term Loan. Subject to the terms and conditions of this
      Agreement, each Lender, severally and not jointly, will make a Term Loan
      to Borrower in the sum equal to such Lender's Commitment Percentage of
      $383,330. The Term Loan shall be advanced on the First Amendment Closing
      Date and shall be, with respect to principal, payable as follows, subject
      to acceleration upon the occurrence of an Event of Default under this
      Agreement or termination of this Agreement: thirty six (36) consecutive
      monthly principal installments, the first thirty five (35) of which shall
      be in the amount of $10,648 commencing on the first Business Day of
      November, 2006, and continuing on the first Business Day of each month
      thereafter, with a thirty sixth (36th) and final payment of any unpaid
      balance of principal and interest payable on the first Business Day of
      October, 2009, subject to mandatory prepayment and acceleration upon the
      occurrence of an Event of Default hereunder or earlier termination of the
      Loan Agreement pursuant to the terms hereof. Notwithstanding anything to
      the contrary herein, in the Term Note and/or in any Other Document, all
      outstanding principal and interest hereunder is due and payable on the
      Termination Date in the event that the Termination Date is before the
      first Business Day of October, 2009. The Term Loan shall be evidenced by
      one or more secured promissory notes (collectively, the "Term Note") in
      substantially the form attached hereto as Exhibit 2.4a.

      (e)   Section 2.5 of the Loan Agreement is deleted, and is replaced by a
            new Section 2.5 to read as follows:

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            2.5 Maximum Advances. The aggregate balance of Revolving Advances
      outstanding at any time shall not exceed the lesser of (a) the Maximum
      Revolving Advance Amount or (b) the Formula Amount less, in each case, the
      aggregate Maximum Undrawn Amount of all issued and outstanding Letters of
      Credit.

      (f)   Subsection 2.12(a) of the Loan Agreement is deleted, and is replaced
            by a new Subsection 2.12(a) to read as follows:

                  (a) Borrower shall apply the proceeds of Advances to (i)
      purchase the Mortgaged Premises, (ii) repay existing indebtedness owed to
      Citibank, (iii) pay fees and expenses relating to this transaction, and
      (iv) provide for its working capital needs and reimburse drawings under
      Letters of Credit.

      (g)   Sections 2.14, 2.15, 2.16, 2.17, 2.18, 2.19, 2.20, 2.21, 2.22 and
            2.23 are hereby added to the Loan Agreement to read as follows:

            2.14. Letters of Credit. Subject to the terms and conditions hereof,
      Agent shall issue or cause the issuance of standby Letters of Credit
      ("Letters of Credit") for the account of the Borrower; provided, however,
      that Agent will not be required to issue or cause to be issued any Letters
      of Credit to the extent that the issuance thereof would then cause the sum
      of (i) the outstanding Revolving Advances plus (ii) the Maximum Undrawn
      Amount of all outstanding Letters of Credit to exceed the lesser of (x)
      the Maximum Revolving Advance Amount or (y) the Formula Amount. The
      Maximum Undrawn Amount of outstanding Letters of Credit shall not exceed
      in the aggregate at any time the Letter of Credit Sublimit. All
      disbursements or payments related to Letters of Credit shall be deemed to
      be Domestic Rate Loans consisting of Revolving Advances and shall bear
      interest at the applicable Contract Rate for Domestic Rate Loans; Letters
      of Credit that have not been drawn upon shall not bear interest.

            2.15. Issuance of Letters of Credit.

                  (a) Borrower may request Agent to issue or cause the issuance
      of a Letter of Credit by delivering to Agent at the Payment Office, prior
      to 10:00 a.m. (New York time), at least five (5) Business Days' prior to
      the proposed date of issuance, Agent's form of Letter of Credit
      Application (the "Letter of Credit Application") completed to the
      satisfaction of Agent; and, such other certificates, documents and other
      papers and information as Agent may reasonably request. Borrower also has
      the right to give instructions and make agreements with respect to any
      application, any applicable letter of credit and security agreement, any
      applicable letter of credit reimbursement agreement and/or any other
      applicable agreement, any letter of credit and the disposition of
      documents, disposition of any unutilized funds, and to agree with Agent
      upon any amendment, extension or renewal of any Letter of Credit.

                  (b) Each Letter of Credit shall, among other things, (i)
      provide for the payment of sight drafts, other written demands for
      payment, or acceptances of usance drafts when presented for honor
      thereunder in accordance with the terms thereof and when accompanied by
      the documents described therein and (ii) have an expiry date not later
      than twenty-four (24) months after such Letter of Credit's date of
      issuance and in no event later than the last day of the Term. Each standby
      Letter of Credit shall be subject either to the Uniform Customs and
      Practice for Documentary Credits (1993 Revision), International Chamber of
      Commerce Publication No. 500, and any amendments or revision thereof
      adhered to by the Issuer ("UCP 500") or the International Standby
      Practices (ISP98-International Chamber of Commerce Publication Number 590)
      (the "ISP98 Rules"), as determined by Agent, and each trade Letter of
      Credit shall be subject to UCP 500.

                  (c) Agent shall use its reasonable efforts to notify Lenders
      of the request by Borrower for a Letter of Credit hereunder.

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            2.16. Requirements For Issuance of Letters of Credit.

                  (a) Borrower shall authorize and direct any Issuer to name the
      Borrower as the "Applicant" or "Account Party" of each Letter of Credit.
      If Agent is not the Issuer of any Letter of Credit, Borrower shall
      authorize and direct the Issuer to deliver to Agent all instruments,
      documents, and other writings and property received by the Issuer pursuant
      to the Letter of Credit and to accept and rely upon Agent's instructions
      and agreements with respect to all matters arising in connection with the
      Letter of Credit, the application therefor or any acceptance therefor.

                  (b) In connection with all Letters of Credit issued or caused
      to be issued by Agent under this Agreement, Borrower hereby appoints
      Agent, or its designee, as its attorney, with full power and authority if
      an Event of Default shall have occurred, (i) to sign and/or endorse
      Borrower's name upon any warehouse or other receipts, letter of credit
      applications and acceptances, (ii) to sign Borrower's name on bills of
      lading; (iii) to clear Inventory through the United States of America
      Customs Department ("Customs") in the name of Borrower or Agent or Agent's
      designee, and to sign and deliver to Customs officials powers of attorney
      in the name of Borrower for such purpose; and (iv) to complete in
      Borrower's name or Agent's, or in the name of Agent's designee, any order,
      sale or transaction, obtain the necessary documents in connection
      therewith, and collect the proceeds thereof. Neither Agent nor its
      attorneys will be liable for any acts or omissions nor for any error of
      judgment or mistakes of fact or law, except for Agent's or its attorney's
      willful misconduct. This power, being coupled with an interest, is
      irrevocable as long as any Letters of Credit remain outstanding.

            2.17. Disbursements, Reimbursement.

                  (a) Immediately upon the issuance of each Letter of Credit,
      each Lender shall be deemed to, and hereby irrevocably and unconditionally
      agrees to, purchase from Agent a participation in such Letter of Credit
      and each drawing thereunder in an amount equal to such Lender's Commitment
      Percentage of the Maximum Face Amount of such Letter of Credit and the
      amount of such drawing, respectively.

                  (b) In the event of any request for a drawing under a Letter
      of Credit by the beneficiary or transferee thereof, Agent will promptly
      notify Borrower. Provided that Borrower shall have received such notice,
      the Borrower shall reimburse (such obligation to reimburse Agent shall
      sometimes be referred to as a "Reimbursement Obligation") Agent prior to
      12:00 Noon, New York time on each date that an amount is paid by Agent
      under any Letter of Credit (each such date, a "Drawing Date") in an amount
      equal to the amount so paid by Agent. In the event Borrower fail to
      reimburse Agent for the full amount of any drawing under any Letter of
      Credit by 12:00 Noon, New York time, on the Drawing Date, Agent will
      promptly notify each Lender thereof, and Borrower shall be deemed to have
      requested that a Domestic Rate Loan be made by the Lenders to be disbursed
      on the Drawing Date under such Letter of Credit, subject to the amount of
      the unutilized portion of the lesser of Maximum Revolving Advance Amount
      or the Formula Amount and subject to Section 8.2 hereof. Any notice given
      by Agent pursuant to this Section 2.17(b) may be oral if immediately
      confirmed in writing; provided that the lack of such an immediate
      confirmation shall not affect the conclusiveness or binding effect of such
      notice.

                  (c) Each Lender shall upon any notice pursuant to Section
      2.17(b) make available to Agent an amount in immediately available funds
      equal to its Commitment Percentage of the amount of the drawing, whereupon
      the participating Lenders shall (subject to Section 2.17(d)) each be
      deemed to have made a Domestic Rate Loan to Borrower in that amount. If
      any Lender so notified fails to make available to Agent the amount of such
      Lender's Commitment Percentage of such amount by no later than 2:00 p.m.,
      New York time on the Drawing Date, then interest shall accrue on such
      Lender's obligation to make such payment, from the Drawing Date to the
      date on which such Lender makes such payment (i) at a rate per annum equal
      to the Federal Funds Rate during the first three days following the
      Drawing Date and (ii) at a rate per annum equal to the rate applicable to
      Domestic Rate Loans on and after the fourth day following the Drawing
      Date. Agent will promptly give notice of the occurrence of the Drawing
      Date, but failure of Agent to give any such notice on the Drawing Date or

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      in sufficient time to enable any Lender to effect such payment on such
      date shall not relieve such Lender from its obligation under this Section
      2.17(c), provided that such Lender shall not be obligated to pay interest
      as provided in Section 2.17(c)(i) and (ii) until and commencing from the
      date of receipt of notice from Agent of a drawing.

                  (d) With respect to any unreimbursed drawing that is not
      converted into a Domestic Rate Loan to Borrower in whole or in part as
      contemplated by Section 2.17(b), because of Borrower's failure to satisfy
      the conditions set forth in Section 8.2 (other than any notice
      requirements) or for any other reason, Borrower shall be deemed to have
      incurred from Agent a borrowing (each a "Letter of Credit Borrowing") in
      the amount of such drawing. Such Letter of Credit Borrowing shall be due
      and payable on demand (together with interest) and shall bear interest at
      the rate per annum applicable to a Domestic Rate Loan. Each Lender's
      payment to Agent pursuant to Section 2.17(c) shall be deemed to be a
      payment in respect of its participation in such Letter of Credit Borrowing
      and shall constitute a "Participation Advance" from such Lender in
      satisfaction of its Participation Commitment under this Section 2.17.

                  (e) Each Lender's Participation Commitment shall continue
      until the last to occur of any of the following events: (x) Agent ceases
      to be obligated to issue or cause to be issued Letters of Credit
      hereunder; (y) no Letter of Credit issued or created hereunder remains
      outstanding and uncancelled and (z) all Persons (other than the Borrower)
      have been fully reimbursed for all payments made under or relating to
      Letters of Credit.

            2.18. Repayment of Participation Advances.

                  (a) Upon (and only upon) receipt by Agent for its account of
      immediately available funds from Borrower (i) in reimbursement of any
      payment made by the Agent under the Letter of Credit with respect to which
      any Lender has made a Participation Advance to Agent, or (ii) in payment
      of interest on such a payment made by Agent under such a Letter of Credit,
      Agent will pay to each Lender, in the same funds as those received by
      Agent, the amount of such Lender's Commitment Percentage of such funds,
      except Agent shall retain the amount of the Commitment Percentage of such
      funds of any Lender that did not make a Participation Advance in respect
      of such payment by Agent.

                  (b) If Agent is required at any time to return to Borrower, or
      to a trustee, receiver, liquidator, custodian, or any official in any
      insolvency proceeding, any portion of the payments made by Borrower to
      Agent pursuant to Section 2.18(a) in reimbursement of a payment made under
      the Letter of Credit or interest or fee thereon, each Lender shall, on
      demand of Agent, forthwith return to Agent the amount of its Commitment
      Percentage of any amounts so returned by Agent plus interest at the
      Federal Funds Effective Rate.

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            2.19. Documentation. The Borrower agrees to be bound by the terms of
      the Letter of Credit Application and by Agent's reasonable interpretations
      of any Letter of Credit issued on behalf of Borrower and by Agent's
      written regulations and customary practices relating to letters of credit,
      though Agent's interpretations may be different from Borrower's own. In
      the event of a conflict between the Letter of Credit Application and this
      Agreement, this Agreement shall govern. It is understood and agreed that,
      except in the case of gross negligence or willful misconduct (as
      determined by a court of competent jurisdiction in a final non-appealable
      judgment), Agent shall not be liable for any error, negligence and/or
      mistakes, whether of omission or commission, in following the Borrower's
      instructions or those contained in the Letters of Credit or any
      modifications, amendments or supplements thereto.

            2.20. Determination to Honor Drawing Request. In determining whether
      to honor any request for drawing under any Letter of Credit by the
      beneficiary thereof, Agent shall be responsible only to determine that the
      documents and certificates required to be delivered under such Letter of
      Credit have been delivered and that they comply on their face with the
      requirements of such Letter of Credit and that any other drawing condition
      appearing on the face of such Letter of Credit has been satisfied in the
      manner so set forth.

            2.21. Nature of Participation and Reimbursement Obligations. Each
      Lender's obligation in accordance with this Agreement to make the
      Revolving Advances or Participation Advances as a result of a drawing
      under a Letter of Credit, and the obligations of Borrower to reimburse
      Agent upon a draw under a Letter of Credit, shall be absolute,
      unconditional and irrevocable, and shall be performed strictly in
      accordance with the terms of this Section 2.21 under all circumstances,
      including the following circumstances:

                        (i) any set-off, counterclaim, recoupment, defense or
      other right which such Lender may have against Agent, Borrower or any
      other Person for any reason whatsoever;

                        (ii) the failure of Borrower or any other Person to
      comply, in connection with a Letter of Credit Borrowing, with the
      conditions set forth in this Agreement for the making of a Revolving
      Advance, it being acknowledged that such conditions are not required for
      the making of a Letter of Credit Borrowing and the obligation of the
      Lenders to make Participation Advances under Section 2.17;

                        (iii) any lack of validity or enforceability of any
      Letter of Credit;

                        (iv) any claim of breach of warranty that might be made
      by Borrower or any Lender against the beneficiary of a Letter of Credit,
      or the existence of any claim, set-off, recoupment, counterclaim,
      crossclaim, defense or other right which Borrower or any Lender may have
      at any time against a beneficiary, any successor beneficiary or any
      transferee of any Letter of Credit or the proceeds thereof (or any Persons
      for whom any such transferee may be acting), Agent or any Lender or any
      other Person, whether in connection with this Agreement, the transactions
      contemplated herein or any unrelated transaction (including any underlying
      transaction between Borrower or any Subsidiaries of Borrower and the
      beneficiary for which any Letter of Credit was procured);

                        (v) the lack of power or authority of any signer of (or
      any defect in or forgery of any signature or endorsement on) or the form
      of or lack of validity, sufficiency, accuracy, enforceability or
      genuineness of any draft, demand, instrument, certificate or other
      document presented under or in connection with any Letter of Credit, or
      any fraud or alleged fraud in connection with any Letter of Credit, or the
      transport of any property or provisions of services relating to a Letter
      of Credit, in each case even if Agent or any of Agent's Affiliates has
      been notified thereof;

                        (vi) payment by Agent under any Letter of Credit against
      presentation of a demand, draft or certificate or other document which
      does not comply with the terms of such Letter of Credit;

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                        (vii) the solvency of, or any acts or omissions by, any
      beneficiary of any Letter of Credit, or any other Person having a role in
      any transaction or obligation relating to a Letter of Credit, or the
      existence, nature, quality, quantity, condition, value or other
      characteristic of any property or services relating to a Letter of Credit;

                        (viii) any failure by the Agent or any of Agent's
      Affiliates to issue any Letter of Credit in the form requested by
      Borrower, unless the Agent has received written notice from Borrower of
      such failure within three (3) Business Days after the Agent shall have
      furnished Borrower a copy of such Letter of Credit and such error is
      material and no drawing has been made thereon prior to receipt of such
      notice;

                        (ix) any Material Adverse Effect on Borrower;

                        (x) any breach of this Agreement or any Other Document
      by any party thereto;

                        (xi) the occurrence or continuance of an insolvency
      proceeding with respect to Borrower;

                        (xii) the fact that a Default or Event of Default shall
      have occurred and be continuing;

                        (xiii) the fact that the Term shall have expired or this
      Agreement or the Obligations hereunder shall have been terminated; and

                        (xix) any other circumstance or happening whatsoever,
      whether or not similar to any of the foregoing.

            2.22. Indemnity. In addition to amounts payable as provided in
      Section 15.5, Borrower hereby agrees to protect, indemnify, pay and save
      harmless Agent and any of Agent's Affiliates that have issued a Letter of
      Credit from and against any and all claims, demands, liabilities, damages,
      taxes, penalties, interest, judgments, losses, costs, charges and expenses
      (including reasonable fees, expenses and disbursements of counsel and
      allocated costs of internal counsel) which the Agent or any of Agent's
      Affiliates may incur or be subject to as a consequence, direct or
      indirect, of the issuance of any Letter of Credit, other than as a result
      of (A) the gross negligence or willful misconduct of the Agent as
      determined by a final and non-appealable judgment of a court of competent
      jurisdiction or (b) the wrongful dishonor by the Agent or any of Agent's
      Affiliates of a proper demand for payment made under any Letter of Credit,
      except if such dishonor resulted from any act or omission, whether
      rightful or wrongful, of any present or future de jure or de facto
      Governmental Body (all such acts or omissions herein called "Governmental
      Acts").

            2.23. Liability for Acts and Omissions. As between Borrower and
      Agent and Lenders, Borrower assumes all risks of the acts and omissions
      of, or misuse of the Letters of Credit by, the respective beneficiaries of
      such Letters of Credit. In furtherance and not in limitation of the
      respective foregoing, Agent shall not be responsible for: (i) the form,
      validity, sufficiency, accuracy, genuineness or legal effect of any
      document submitted by any party in connection with the application for an
      issuance of any such Letter of Credit, even if it should in fact prove to
      be in any or all respects invalid, insufficient, inaccurate, fraudulent or
      forged (even if Agent shall have been notified thereof); (ii) the validity
      or sufficiency of any instrument transferring or assigning or purporting
      to transfer or assign any such Letter of Credit or the rights or benefits
      thereunder or proceeds thereof, in whole or in part, which may prove to be
      invalid or ineffective for any reason; (iii) the failure of the
      beneficiary of any such Letter of Credit, or any other party to which such
      Letter of Credit may be transferred, to comply fully with any conditions
      required in order to draw upon such Letter of Credit or any other claim of
      Borrower against any beneficiary of such Letter of Credit, or any such
      transferee, or any dispute between or among Borrower and any beneficiary
      of any Letter of Credit or any such transferee; (iv) errors, omissions,
      interruptions or delays in transmission or delivery of any messages, by
      mail, cable, telegraph, telex or otherwise, whether or not they be in

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      cipher; (v) errors in interpretation of technical terms; (vi) any loss or
      delay in the transmission or otherwise of any document required in order
      to make a drawing under any such Letter of Credit or of the proceeds
      thereof; (vii) the misapplication by the beneficiary of any such Letter of
      Credit of the proceeds of any drawing under such Letter of Credit; or
      (viii) any consequences arising from causes beyond the control of Agent,
      including any Governmental Acts, and none of the above shall affect or
      impair, or prevent the vesting of, any of Agent's rights or powers
      hereunder. Nothing in the preceding sentence shall relieve Agent from
      liability for Agent's gross negligence or willful misconduct (as
      determined by a court of competent jurisdiction in a final non-appealable
      judgment) in connection with actions or omissions described in such
      clauses (i) through (viii) of such sentence. In no event shall Agent or
      Agent's Affiliates be liable to Borrower for any indirect, consequential,
      incidental, punitive, exemplary or special damages or expenses (including
      without limitation attorneys' fees), or for any damages resulting from any
      change in the value of any property relating to a Letter of Credit.

            Without limiting the generality of the foregoing, Agent and each of
      its Affiliates (i) may rely on any oral or other communication believed in
      good faith by Agent or such Affiliate to have been authorized or given by
      or on behalf of the applicant for a Letter of Credit, (ii) may honor any
      presentation if the documents presented appear on their face substantially
      to comply with the terms and conditions of the relevant Letter of Credit;
      (iii) may honor a previously dishonored presentation under a Letter of
      Credit, whether such dishonor was pursuant to a court order, to settle or
      compromise any claim of wrongful dishonor, or otherwise, and shall be
      entitled to reimbursement to the same extent as if such presentation had
      initially been honored, together with any interest paid by Agent or its
      Affiliates; (iv) may honor any drawing that is payable upon presentation
      of a statement advising negotiation or payment, upon receipt of such
      statement (even if such statement indicates that a draft or other document
      is being delivered separately), and shall not be liable for any failure of
      any such draft or other document to arrive, or to conform in any way with
      the relevant Letter of Credit; (v) may pay any paying or negotiating bank
      claiming that it rightfully honored under the laws or practices of the
      place where such bank is located; and (vi) may settle or adjust any claim
      or demand made on Agent or its Affiliate in any way related to any order
      issued at the applicant's request to an air carrier, a letter of guarantee
      or of indemnity issued to a carrier or any similar document (each an
      "Order") and honor any drawing in connection with any Letter of Credit
      that is the subject of such Order, notwithstanding that any drafts or
      other documents presented in connection with such Letter of Credit fail to
      conform in any way with such Letter of Credit.

            In furtherance and extension and not in limitation of the specific
      provisions set forth above, any action taken or omitted by Agent under or
      in connection with the Letters of Credit issued by it or any documents and
      certificates delivered thereunder, if taken or omitted in good faith and
      without gross negligence (as determined by a court of competent
      jurisdiction in a final non-appealable judgment), shall not put Agent
      under any resulting liability to Borrower or any Lender.

      (h)   Subsection 3.2(b) of the Loan Agreement is deleted, and is replaced
            by a new Subsection 3.2(b) to read as follows:

                  (b) Facility Fee. If, for any calendar quarter during the
      Term, the average daily unpaid balance of the Revolving Advances and
      undrawn amount of any outstanding Letters of Credit for each day of such
      calendar quarter does not equal the Maximum Revolving Advance Amount, then
      Borrower shall pay to Agent for the ratable benefit of Lenders a fee at a
      rate equal to one half of one percent (.50%) per annum on the amount by
      which the Maximum Revolving Advance Amount exceeds such average daily
      unpaid balance. Such fee shall be payable to Agent in arrears on the first
      day of each calendar quarter with respect to the previous calendar
      quarter.

      (i)   Sections 3.11 is hereby added to the Loan Agreement to read as
            follows:

            3.11. Letter of Credit Fees.

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                  (a) Borrower shall pay (x) to Agent, for the ratable benefit
      of Lenders, fees for each Letter of Credit for the period from and
      excluding the date of issuance of same to and including the date of
      expiration or termination, equal to the average daily face amount of each
      outstanding Letter of Credit multiplied per annum by two and one half of
      one percent (2.50%), such fees to be calculated on the basis of a 360-day
      year for the actual number of days elapsed and to be payable quarterly in
      arrears on the first day of each quarter and on the last day of the Term,
      and (y) to the Issuer, a fronting fee of one quarter of one percent
      (0.25%) per annum, together with any and all administrative, issuance,
      amendment, payment and negotiation charges with respect to Letters of
      Credit and all fees and expenses as agreed upon by the Issuer and the
      Borrower in connection with any Letter of Credit, including in connection
      with the opening, amendment or renewal of any such Letter of Credit and
      any acceptances created thereunder and shall reimburse Agent for any and
      all fees and expenses, if any, paid by Agent to the Issuer (all of the
      foregoing fees, the "Letter of Credit Fees"). All such charges shall be
      deemed earned in full on the date when the same are due and payable
      hereunder and shall not be subject to rebate or pro-ration upon the
      termination of this Agreement for any reason. Any such charge in effect at
      the time of a particular transaction shall be the charge for that
      transaction, notwithstanding any subsequent change in the Issuer's
      prevailing charges for that type of transaction. All Letter of Credit Fees
      payable hereunder shall be deemed earned in full on the date when the same
      are due and payable hereunder and shall not be subject to rebate or
      pro-ration upon the termination of this Agreement for any reason.

                  (b) On demand, Borrower will cause cash to be deposited and
      maintained in an account with Agent, as cash collateral, in an amount
      equal to one hundred and five percent (105%) of the Maximum Undrawn Amount
      of all outstanding Letters of Credit, and Borrower hereby irrevocably
      authorizes Agent, in its discretion, on Borrower's behalf and in
      Borrower's name, to open such an account and to make and maintain deposits
      therein, or in an account opened by Borrower, in the amounts required to
      be made by Borrower, out of the proceeds of Receivables or other
      Collateral or out of any other funds of Borrower coming into any Lender's
      possession at any time. Agent will invest such cash collateral (less
      applicable reserves) in such short-term money-market items as to which
      Agent and Borrower mutually agree and the net return on such investments
      shall be credited to such account and constitute additional cash
      collateral. Borrower may not withdraw amounts credited to any such account
      except upon the occurrence of all of the following: (x) payment and
      performance in full of all Obligations, (y) expiration of all Letters of
      Credit and (z) termination of this Agreement.

      (j)   Section 11.5 of the Loan Agreement is deleted, and is replaced by a
            new Section 11.5 to read as follows:

            11.5. Allocation of Payments After Event of Default. Notwithstanding
      any other provisions of this Agreement to the contrary, after the
      occurrence and during the continuance of an Event of Default, all amounts
      collected or received by the Agent on account of the Obligations or any
      other amounts outstanding under any of the Other Documents or in respect
      of the Collateral may, at Agent's discretion, be paid over or delivered as
      follows:

            FIRST, to the payment of all reasonable out-of-pocket costs and
      expenses (including reasonable attorneys' fees) of the Agent in connection
      with enforcing its rights and the rights of the Lenders under this
      Agreement and the Other Documents and any protective advances made by the
      Agent with respect to the Collateral under or pursuant to the terms of
      this Document;

            SECOND, to payment of any fees owed to the Agent;

            THIRD, to the payment of all reasonable out-of-pocket costs and
      expenses (including reasonable attorneys' fees) of each of the Lenders in
      connection with enforcing its rights under this Agreement and the Other
      Documents or otherwise with respect to the Obligations owing to such
      Lender;

            FOURTH, to the payment of all of the Obligations consisting of
      accrued fees and interest;

            FIFTH, to the payment of the outstanding principal amount of the
      Obligations (including the payment or cash collateralization of any
      outstanding Letters of Credit);

                                       9
<PAGE>

            SIXTH, to all other Obligations and other obligations which shall
      have become due and payable under the Other Documents or otherwise and not
      repaid pursuant to clauses "FIRST" through "FIFTH" above; and

            SEVENTH, to the payment of the surplus, if any, to whoever may be
      lawfully entitled to receive such surplus.

            In carrying out the foregoing, (i) amounts received shall be applied
      in the numerical order provided until exhausted prior to application to
      the next succeeding category; (ii) each of the Lenders shall receive (so
      long as it is not a Defaulting Lender) an amount equal to its pro rata
      share (based on the proportion that the then outstanding Advances held by
      such Lender bears to the aggregate then outstanding Advances) of amounts
      available to be applied pursuant to clauses "FOURTH", "FIFTH" and "SIXTH"
      above; and (iii) to the extent that any amounts available for distribution
      pursuant to clause "FIFTH" above are attributable to the issued but
      undrawn amount of outstanding Letters of Credit, such amounts shall be
      held by the Agent in a cash collateral account and applied (A) first, to
      reimburse the Issuer from time to time for any drawings under such Letters
      of Credit and (B) then, following the expiration of all Letters of Credit,
      to all other obligations of the types described in clauses "FIFTH" and
      "SIXTH" above in the manner provided in this Section 11.5.

      (k)   Section 15.3 of the Loan Agreement is deleted, and is replaced by a
            new Section 15.3 to read as follows:

            15.3. Successors and Assigns; Participations; New Lenders.

                  (a) This Agreement shall be binding upon and inure to the
      benefit of Borrower, Agent, each Lender, all future holders of the
      Obligations and their respective successors and assigns, except that
      Borrower may not assign or transfer any of its rights or obligations under
      this Agreement without the prior written consent of Agent and each Lender.

                  (b) Borrower acknowledges that in the regular course of
      commercial banking business one or more Lenders may at any time and from
      time to time sell participating interests in the Advances to other
      financial institutions (each such transferee or purchaser of a
      participating interest, a "Participant"). Each Participant may exercise
      all rights of payment (including rights of set-off) with respect to the
      portion of such Advances held by it or other Obligations payable hereunder
      as fully as if such Participant were the direct holder thereof provided
      that Borrower shall not be required to pay to any Participant more than
      the amount which it would have been required to pay to Lender which
      granted an interest in its Advances or other Obligations payable hereunder
      to such Participant had such Lender retained such interest in the Advances
      hereunder or other Obligations payable hereunder and in no event shall
      Borrower be required to pay any such amount arising from the same
      circumstances and with respect to the same Advances or other Obligations
      payable hereunder to both such Lender and such Participant. Borrower
      hereby grants to any Participant a continuing security interest in any
      deposits, moneys or other property actually or constructively held by such
      Participant as security for the Participant's interest in the Advances.

                  (c) Any Lender, with the consent of Agent which shall not be
      unreasonably withheld or delayed, may sell, assign or transfer all or any
      part of its rights and obligations under or relating to Revolving Advances
      under this Agreement and the Other Documents to one or more additional
      banks or financial institutions and one or more additional banks or
      financial institutions may commit to make Advances hereunder (each a
      "Purchasing Lender"), in minimum amounts of not less than $5,000,000,
      pursuant to a Commitment Transfer Supplement, executed by a Purchasing
      Lender, the transferor Lender, and Agent and delivered to Agent for
      recording. Upon such execution, delivery, acceptance and recording, from
      and after the transfer effective date determined pursuant to such
      Commitment Transfer Supplement, (i) Purchasing Lender thereunder shall be
      a party hereto and, to the extent provided in such Commitment Transfer
      Supplement, have the rights and obligations of a Lender thereunder with a
      Commitment Percentage as set forth therein, and (ii) the transferor Lender
      thereunder shall, to the extent provided in such Commitment Transfer
      Supplement, be released from its obligations under this Agreement, the
      Commitment Transfer Supplement creating a novation for that purpose. Such
      Commitment Transfer Supplement shall be deemed to amend this Agreement to
      the extent, and only to the extent, necessary to reflect the addition of
      such Purchasing Lender and the resulting adjustment of the Commitment
      Percentages arising from the purchase by such Purchasing Lender of all or
      a portion of the rights and obligations of such transferor Lender under

                                       10
<PAGE>

      this Agreement and the Other Documents. Borrower hereby consents to the
      addition of such Purchasing Lender and the resulting adjustment of the
      Commitment Percentages arising from the purchase by such Purchasing Lender
      of all or a portion of the rights and obligations of such transferor
      Lender under this Agreement and the Other Documents. Borrower shall
      execute and deliver such further documents and do such further acts and
      things in order to effectuate the foregoing.

                  (d) Any Lender, with the consent of Agent which shall not be
      unreasonably withheld or delayed, may directly or indirectly sell, assign
      or transfer all or any portion of its rights and obligations under or
      relating to Revolving Advances under this Agreement and the Other
      Documents to an entity, whether a corporation, partnership, trust, limited
      liability company or other entity that (i) is engaged in making,
      purchasing, holding or otherwise investing in bank loans and similar
      extensions of credit in the ordinary course of its business and (ii) is
      administered, serviced or managed by the assigning Lender or an Affiliate
      of such Lender (a "Purchasing CLO" and together with each Participant and
      Purchasing Lender, each a "Transferee" and collectively the
      "Transferees"), pursuant to a Commitment Transfer Supplement modified as
      appropriate to reflect the interest being assigned ("Modified Commitment
      Transfer Supplement"), executed by any intermediate purchaser, the
      Purchasing CLO, the transferor Lender, and Agent as appropriate and
      delivered to Agent for recording. Upon such execution and delivery, from
      and after the transfer effective date determined pursuant to such Modified
      Commitment Transfer Supplement, (i) Purchasing CLO thereunder shall be a
      party hereto and, to the extent provided in such Modified Commitment
      Transfer Supplement, have the rights and obligations of a Lender
      thereunder and (ii) the transferor Lender thereunder shall, to the extent
      provided in such Modified Commitment Transfer Supplement, be released from
      its obligations under this Agreement, the Modified Commitment Transfer
      Supplement creating a novation for that purpose. Such Modified Commitment
      Transfer Supplement shall be deemed to amend this Agreement to the extent,
      and only to the extent, necessary to reflect the addition of such
      Purchasing CLO. Borrower hereby consents to the addition of such
      Purchasing CLO. Borrower shall execute and deliver such further documents
      and do such further acts and things in order to effectuate the foregoing.

                  (e) Agent shall maintain at its address a copy of each
      Commitment Transfer Supplement and Modified Commitment Transfer Supplement
      delivered to it and a register (the "Register") for the recordation of the
      names and addresses of each Lender and the outstanding principal, accrued
      and unpaid interest and other fees due hereunder. The entries in the
      Register shall be conclusive, in the absence of manifest error, and
      Borrower, Agent and Lenders may treat each Person whose name is recorded
      in the Register as the owner of the Advance recorded therein for the
      purposes of this Agreement. The Register shall be available for inspection
      by Borrower or any Lender at any reasonable time and from time to time
      upon reasonable prior notice. Agent shall receive a fee in the amount of
      $3,500 payable by the applicable Purchasing Lender and/or Purchasing CLO
      upon the effective date of each transfer or assignment (other than to an
      intermediate purchaser) to such Purchasing Lender and/or Purchasing CLO.

                  (f) Borrower authorizes each Lender to disclose to any
      Transferee and any prospective Transferee any and all financial
      information in such Lender's possession concerning Borrower which has been
      delivered to such Lender by or on behalf of Borrower pursuant to this
      Agreement or in connection with such Lender's credit evaluation of
      Borrower.

3)    ACKNOWLEDGMENTS. Borrower acknowledges and represents that:

      (A) the Loan Agreement and Other Documents, as amended hereby, are in full
      force and effect without any defense, claim, counterclaim, right or claim
      of set-off;

                                       11
<PAGE>

      (B) to the best of its knowledge, no default by the Agent or Lenders in
      the performance of their duties under the Loan Agreement or the Other
      Documents has occurred;

      (C) all representations and warranties of the Borrower contained herein,
      in the Loan Agreement and in the Other Documents are true and correct in
      all material respects as of this date, except for any representation or
      warranty that specifically refers to an earlier date;

      (D) Borrower has taken all necessary action to authorize the execution and
      delivery of this Agreement; and

      (E) this Agreement is a modification of an existing obligation and is not
      a novation.

4)    PRECONDITIONS. As a precondition to the effectiveness of any of the
      modifications, consents, or waivers contained herein, the Borrower agrees
      to:

      (A) provide the Agent with this Agreement and the Amended and Restated
      Term Note, properly executed;

      (B) provide the Agent with a resolution, in form and substance acceptable
      to the Agent, which approves the modification contemplated hereby;

      (C) pay all legal fees incurred by the Agent in entering into this
      Agreement to Wilentz, Goldman & Spitzer via wire transfer; and

      (D) pay all other fees and costs incurred by the Lenders in entering into
      this Agreement.

5)    MISCELLANEOUS. This Agreement shall be construed in accordance with and
      governed by the laws of the State of New York, without reference to that
      state's conflicts of law principles. This Agreement, the Loan Agreement
      and the Other Documents constitute the sole agreement of the parties with
      respect to the subject matter thereof and supersede all oral negotiations
      and prior writings with respect to the subject matter thereof. No
      amendment of this Agreement, and no waiver of any one or more of the
      provisions hereof shall be effective unless set forth in writing and
      signed by the parties hereto. The illegality, unenforceability or
      inconsistency of any provision of this Agreement shall not in any way
      affect or impair the legality, enforceability or consistency of the
      remaining provisions of this Agreement, the Loan Agreement or the Other
      Documents. This Agreement, the Loan Agreement and the Other Documents are
      intended to be consistent. However, in the event of any inconsistencies
      among this Agreement, the Loan Agreement and/or any of the Other
      Documents, the terms of this Agreement, then the Loan Agreement, shall
      control. This Agreement may be executed in any number of counterparts and
      by the different parties on separate counterparts. Each such counterpart
      shall be deemed an original, but all such counterparts shall together
      constitute one and the same agreement.

6)    DEFINITIONS. The terms used herein and not otherwise defined or modified
      herein shall have the meanings ascribed to them in the Loan Agreement. The
      terms used herein and not otherwise defined or modified herein or defined
      in the Loan Agreement shall have the meanings ascribed to them by the
      Uniform Commercial Code as enacted in State of New York.

                             [SIGNATURES TO FOLLOW]

                                       12
<PAGE>

                        SIGNATURE PAGE TO FIRST AMENDMENT
                TO REVOLVING CREDIT, TERM LOAN, EQUIPMENT LINE OF
                          CREDIT AND SECURITY AGREEMENT

      IN WITNESS WHEREOF, the undersigned have signed and sealed this Agreement
the day and year first above written.

ATTEST:                                      AIR INDUSTRIES MACHINING, CORP.

By:_____________________________             By:________________________________
Name:  LOUIS A. GIUSTO                       Name:  MICHAEL A. GALES
Title: Vice Chairman                         Title: Executive Chairman

                                       13
<PAGE>

                                             PNC BANK, NATIONAL ASSOCIATION
                                             Lender and as Agent

                                             By:________________________________
                                             Name:  STEPHEN V. MANGIANTE
                                             Title: Vice President

                                       14Exhibit
      10.1

    

    ACCORD
      AND SATISFACTION

    

    

    This
      Agreement (“Agreement”) is made and entered into effective this 11th
      day of
      October, 2006, by and between Russell H. Ritchie, Dale E. Riker, Suntine
      Enterprises, LLC, and Cornerstone Wireless Communications, LLC (hereinafter
      referred to collectively as “Russell and Group”) and Studio One Media, Inc.,
      (f/k/a Dimensional Visions Incorporated), a Delaware corporation (hereinafter
      referred to as “SOMD” or the “Company”), with reference to the
      following:

    

    WHEREAS,
      the parties hereto did heretofore enter into that one certain Settlement
      Agreement and Release dated April 30, 2003 (the “Settlement Agreement”), which
      agreement is, by this reference, incorporated herein for all purposes;
      and

    

    WHEREAS,
      the parties hereto desire to conclude all matters covered by, referred to in,
      or
      giving rise to the Settlement Agreement, and other matters between the parties,
      leaving nothing unsettled or open to question;

    

    NOW,
      THEREFORE, in consideration of the promises and mutual covenants contained
      herein, and subject to the terms and conditions set forth herein, the parties
      hereby agree as follows:

    

    
      	
              1.

            	
              The
                Company shall issue, or cause to be issued, to Russell and Group,
                One
                Hundred Thirty Seven Thousand Five Hundred (137,500) shares of restricted
                common stock, $0.001 par value, of SOMD (the
                “Shares”).

            

    

    

    
      	
              2.

            	
              Russell
                and Group agrees to accept the Shares in full and complete settlement
                and
                satisfaction of all covenants, representations, warranties, obligations,
                liabilities, costs and expenses provided for in the Settlement Agreement,
                or referred to therein, or any document giving rise thereto including,
                but
                not limited to, any promissory notes, guarantees, lines of credit
                agreements or other financing
                agreements.

            

    

    

    
      	
              3.

            	
              Certificates
                evidencing the Shares shall be issued in the following names and
                amounts:

            

    

     

     

    
      	 Russell H. Ritchie	
               53,000
                shares

            
	 Russell H. Ritchie 	
               40,900
                shares

            
	 Cornerstone Wireless Communications,
              LLC 	
               23,600
                shares

            
	 Fidelity Insurance Company,
              Ltd,	
               

            
	  FBO
              SA 0456  	
               20,000
                shares

            
	     Total	
               137,500
                shares

            

    

              
      

               
      

                      

    
      	
              4.

            	
              The
                Shares, when issued shall be deemed fully paid and non-assessable
                and
                without any restriction of any nature other than as shall be imposed
                by
                Rule 144 promulgated under the Securities Exchange Act of 1933, as
                amended. 

            

    

    

    
      	
              5.

            	
              Each
                time that the Company proposes to Register a public offering solely
                of its
                Common Stock (not including an offering of Common stock issuable
                upon
                conversion or exercise of other securities), other than pursuant
                to a
                Registration Statement on Form S-4 or Form S-8 or similar or successor
                forms (collectively,"Excluded Forms"), the Company shall promptly
                give
                written notice of such proposed Registration to all holders of Shares,
                which shall offer such holders the right to request inclusion of
                any
                Registrable Securities in the proposed Registration. The holder may
                request inclusion of any Registrable Shares in such Company Registration
                by delivering to the Company, within 10 days after receipt of the
                Registration Notice, a written notice (the "Piggyback Notice") stating
                the
                number of Registrable Shares proposed to be included and that such
                shares
                are to be included in any underwriting only on the same terms and
                conditions as the shares of Common Stock otherwise being sold through
                underwriters under such Registration. The Company shall use its reasonable
                efforts to cause all Registrable Shares specified in the Piggyback
                Notice
                to be included in the Company Registration and any related offering,
                all
                to the extent requisite to permit the sale by the holder of such
                Registrable Shares in accordance with the method of sale applicable
                to the
                other shares of Common Stock included in the Company
                Registration.

            

    

    
 

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    

    
      	
              6.

            	
              Russell
                and Group, and each person comprising such group, on behalf of
                himself/itself and on behalf of their respective attorneys, accountants,
                insurers, agents, personal representatives, survivors, heirs, successors,
                and assigns, hereby releases and forever discharges the Company and
                its
                past and present affiliates and subsidiaries, and their respective
                officers, directors, shareholders, partners, principals, employees,
                attorneys, accountants, consultants, insurers, agents, representatives,
                servants, predecessors, successors, heirs and assigns (collectively,
                "the
                Company Parties"), of and from any and all claims, debt, demands,
                obligations, losses, actions and causes of action, costs, expenses,
                attorneys' fees and liabilities of any nature whatsoever, whether
                based on
                contract, tort, statutory or other legal or equitable theory of recovery,
                whether known or unknown, which the Russell and Group, or any member
                thereof, has, had or claims to have against any or all of the Company
                Parties, including but not limited to (i) covenants, representations,
                warranties, obligations, liabilities, costs and expenses provided
                for in
                the Settlement Agreement, or any document referred to in or giving
                rise to
                the Settlement Agreement including, but not limited to, any promissory
                notes, guarantees, lines of credit agreements or other financing
                agreements, (ii) any business or personal relationship between the
                parties
                prior to the date of this Release, or (iii) other monetary or other
                valuable consideration claimed, whether accrued or not, from the
                beginning
                of time to the effective date of this
                Agreement.

            

    

    

    
      	
              7.

            	
              The
                Company, on behalf of itself and its past and present affiliates
                and
                subsidiaries, and their respective officers, directors, shareholders,
                partners, principals, employees, attorneys, accountants, consultants,
                insurers, agents, representatives, servants, predecessors, successors,
                heirs and assigns (collectively, “the Russell Parties”), hereby releases
                and forever discharges Russell and Group, and each person comprising
                such
                group, and their respective attorneys, accountants, insurers, agents,
                personal representatives, survivors, heirs, successors, and assigns,
                of
                and from any and all claims, debt, demands, obligations, losses,
                actions
                and causes of action, costs, expenses, attorneys' fees and liabilities
                of
                any nature whatsoever, whether based on contract, tort, statutory
                or other
                legal or equitable theory of recovery, whether known or unknown,
                which the
                Company has, had or claims to have against any or all of the Russell
                Parties, or any member thereof, including but not limited to any
                and all
                claims which relate to, arise from, or are in any manner connected
                to (i)
                covenants, representations, warranties, obligations, liabilities,
                costs
                and expenses provided for in the Settlement Agreement, or any document
                referred to in or giving rise to the Settlement Agreement including,
                but
                not limited to, any promissory notes, guarantees, lines of credit
                agreements or other financing agreements, (ii) any business or personal
                relationship between the parties prior to the date of this Release,
                or
                (iii) other monetary or other valuable consideration claimed, whether
                accrued or not, from the beginning of time to the effective date
                of this
                Agreement.

            

    

    

    
      	
              8.

            	
              Each
                party represents and warrants that he has the authority to enter
                into and
                be bound by this Agreement.

            

    

    

    
      	
              9.

            	
              This
                Agreement constitutes and embodies the full and complete understanding
                of
                the parties hereto with respect to the subject matter hereof and
                supersedes all prior or contempora-neous understandings, agree-ments
                or
                representa-tions, whether oral or in writing, and all such agree-ments
                shall be and hereby are deemed canceled and terminated and the terms
                thereof shall be null and void and this Agreement shall be the sole
                agreement between the parties hereto. This Agreement may only be
                amended,
                modified or changed by written instrument executed by all parties
                hereto.

            

    

    

    
      	
              10.

            	
              In
                the event that any provision of this Agreement is rendered or declared
                to
                be partially or wholly invalid, illegal or unenforceable by subsequent
                legislation or by decree of a court of last resort, then such provision
                shall be deemed to be modified or restricted to the extent necessary
                to
                make such provision valid, binding and enforceable or, if such a
                provision
                cannot be modified or restricted in such a manner so as to make such
                provision valid, binding and enforceable, then such provision shall
                be
                deemed to be excised from this Agreement and the validity, binding
                effect
                and enforceability of the remaining provisions of this Agreement
                shall not
                be affected or impaired in any manner and shall remain in full force
                and
                effect.

            

    

    

    
      	
              11.

            	
              This
                Agreement shall be governed by, interpreted, performed and construed
                in
                accordance with the laws of the State of Arizona. The State of Arizona,
                County of Maricopa shall be the jurisdiction, forum and venue for
                litigation, trial, arbitration or mediation of any dispute which
                may arise
                between the parties hereto concern-ing the formation, execution,
                performance or breach of this Agreement, or of any alleged tort arising
                from the transactions which form the subject matter
                hereof.

            

    

    

    
      	
              12.

            	
              This
                Agreement shall inure to the benefit of and be binding upon the parties
                hereto and their respective successors and
                assigns.

            

    

    

    
      	
              13.

            	
              Each
                of the parties agrees to execute, acknowl-edge and deliver all further
                instruments and documents and to take such further action as may
                be
                reason-ably required in order to effectuate the terms and purposes
                of this
                Agreement.

            

    

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
              14.

            	
              Each
                of the parties hereto have independently consulted with legal counsel
                of
                its own selection in connection with the negotiation, preparation
                and
                execution of this Agreement, and is not relying upon the legal counsel
                of
                the other party in connection
                herewith.

            

    

    

    
      	
              15.

            	
              Any
                duly executed facsimile copy of this Agreement shall be deemed to
                be, and
                shall be, legally effective as though it were an original, pending
                the
                subsequent exchange of hard copy originals or counterparts duly executed
                by the parties hereto as may be required by law or agreed to in writing
                by
                all of the Parties hereto.

            

    

    

    
      	
              16.

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

            

    

    

    EXECUTED
      as of the date and year first above written.

     

    
      	 STUDIO ONE MEDIA, INC.	 	 	 
	 	 	 	 
	 	 	 	 
	 Preston J. Shea, President	 	 Russell H. Ritchie,
              Individually	 
	 	 	 	 
	 	 	 	 
	 	 	 Dale E. Riker, Individually	 
	 	 	 	 
	 	 	 	 
	 	 	 CORNERSTONE WIRELESS	 
	 	 	 COMMUNICATIONS, LLC.	 
	 	 	 	 
	 	 	 By:
	 
	 	 	 Russell H. Ritchie	 
	 	 	 	 
	 	 	 Title:	 
	 	 	 	 
	 	 	 	 
	 	 	 SUNTINE ENTERPRISES, LLC	 
	 	 	 	 
	 	 	 By:
	 
	 	 	 Larry Kohler	 
	 	 	 	 
	 	 	 Title:
	 
	 	 	 	 
	 	 	 	 
	 	 	 FIDELITY INSURANCE COMPANY,
              LTD.	 
	 	 	 FBO Account # SA 0456	 
	 	 	 	 
	 	 	 By:
	 
	 	 	 Larry Kohler	 
	 	 	 	 
	 	 	 Title:	 
	 	 	 	 

    

     

    3

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