Document:

Exhibit
      10.2

    FORM
      OF
      DIRECTOR INDEMNIFICATION AGREEMENT

     

    (Delaware
      corporation)

     

    Indemnification
      Agreement (this “Agreement”),
      dated
      as of June 24, 2008 between Memry Corporation, a Delaware corporation (the
      “Company”),
      and
      [Director] (“Indemnitee”).

     

    W
      I T N E
      S S E T H:

     

    WHEREAS,
      highly competent persons have become more reluctant to serve publicly-held
      corporations as directors or in other capacities unless they are provided with
      adequate protection through insurance and indemnification against risks of
      claims and actions against them arising out of their service to and activities
      on behalf of the corporation.

     

    WHEREAS,
      the Board of Directors of the Company (the “Board”)
      has
      determined that, in order to attract and retain qualified individuals, the
      Company will attempt to maintain on an ongoing basis, at its sole expense,
      liability insurance to protect persons serving the Company and its subsidiaries
      from certain liabilities. Although the furnishing of such insurance has been
      a
      customary and widespread practice among United States-based corporations and
      other business enterprises, the Company believes that, given current market
      conditions and trends, such insurance may be available to it in the future
      only
      at higher premiums and with more exclusions. At the same time, directors,
      officers, and other persons in service to corporations or business enterprises
      are being increasingly subjected to expensive and time-consuming litigation
      relating to, among other things, matters that traditionally would have been
      brought only against the Company or business enterprise itself.

     

    WHEREAS,
      the Certificate of Incorporation of the Company provides that the Company shall
      indemnify and advance expenses to all directors and officers of the Company
      in
      the manner set forth therein and to the fullest extent permitted by applicable
      law, and the Company’s Certificate of Incorporation provides for limitation of
      liability for directors. In addition, Indemnitee may be entitled to
      indemnification pursuant to the General Corporation Law of the State of Delaware
      (“DGCL”).
      The
      Certificate of Incorporation and the DGCL expressly provide that the
      indemnification provisions set forth therein are not exclusive, and thereby
      contemplate that contracts may be entered into between the Company and members
      of the board of directors, officers and other persons with respect to
      indemnification.

     

    WHEREAS,
      the uncertainties relating to such insurance and to indemnification have
      increased the difficulty of attracting and retaining such persons.

     

    WHEREAS,
      the Board has determined that the increased difficulty in attracting and
      retaining such persons, especially in the context of the eventual sale of the
      Company, is detrimental to the best interests of the Company’s stockholders and
      that the Company should act to assure such persons that there will be increased
      certainty of such protection in the future.

     

    WHEREAS,
      it is reasonable, prudent and necessary for the Company contractually to
      obligate itself to indemnify, and to advance expenses on behalf of, such persons
      to the fullest extent permitted by applicable law so that they will serve or
      continue to serve the Company free from undue concern that they will not be
      so
      indemnified.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    WHEREAS,
      this Agreement is a supplement to and in furtherance of the Certificate of
      Incorporation of the Company and any resolutions adopted pursuant thereto and
      shall not be deemed a substitute therefor, nor to diminish or abrogate any
      rights of Indemnitee thereunder.

     

    WHEREAS,
      Indemnitee is concerned that the protection available under the Company’s
      charter and by-laws and insurance may not be adequate, and may not be willing
      to
      continue to serve as an officer or director of the Company, especially in the
      context of the possible sale of the Company, without greater certainty
      concerning such protection, and the Company desires Indemnitee to serve in
      such
      capacity and is willing to provide such greater certainty.

     

    NOW,
      THEREFORE, in consideration of the premises and the covenants contained herein,
      the Company and Indemnitee do hereby covenant and agree as follows:

     

    ARTICLE
      1

     

    CERTAIN
      DEFINITIONS

     

    (a) As
      used
      in this Agreement:

     

    “Corporate
      Status”
means
      the status of a person who is or was a director, officer, employee or agent
      of
      the Company or who is or was serving at the request of the Company as a
      director, officer, employee or agent of any other Enterprise.

     

    “Enterprise”
means
      any corporation, limited liability company, partnership, joint venture, trust,
      employee benefit plan or other person or enterprise.

     

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

     

    “Expenses”
means
      all costs and expenses (including fees and expenses of counsel) paid or incurred
      in connection with investigating, defending, being a witness in or otherwise
      participating in, or preparing to defend, be a witness in or participate in,
      a
      Proceeding (or any appeal therefrom). Expenses shall include expenses incurred
      in connection with any appeal resulting from any Proceeding, including the
      premium, security for and other costs relating to any cost bond, supersedeas
      bond or other appeal bond or its equivalent.

     

    “Liabilities”
means
      all judgments, fines (including any excise taxes assessed with respect to any
      employee benefit plan), penalties and amounts paid in settlement and other
      liabilities (including all interest, assessments and other charges paid or
      payable in connection with or in respect of any such amounts) arising out of
      or
      in connection with any Proceeding; provided that Liabilities shall not include
      any Expenses.

     

    “person”
means
      an individual, corporation, partnership, limited liability company, association,
      trust or other entity or organization.

     

    “Proceeding”
      includes any threatened, pending or completed action, suit or other proceeding
      (which shall include an arbitration or other alternate dispute resolution
      mechanism), whether civil, criminal, administrative or investigative in nature
      (including any appeal therefrom) and whether instituted by or on behalf of
      the
      Company or any other party, in any such case, in which Indemnitee was, is or
      may
      be involved as a party or otherwise by reason of any Corporate Status of
      Indemnitee or by reason of any action taken (or failure to act) by him or on
      his
      part while serving in any Corporate Status (in each case, whether or not serving
      in such capacity at the time any liability or expense is incurred for which
      indemnification or advancement of expenses can be provided under this
      Agreement), or any inquiry or investigation that Indemnitee in good faith
      believes might lead to the institution of any such action, suit or other
      proceeding; provided that Proceeding shall not include an action, suit or other
      proceeding contemplated by Section
      7.06(b).

     

    
      
         

      

      
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    (b) For
      the
      purposes of this Agreement:

     

    References
      to the “Company” shall include, in addition to the surviving or resulting
      corporation in any merger or consolidation, any constituent corporation
      (including any constituent of a constituent) absorbed in a merger or
      consolidation which, if its separate existence had continued, would have had
      power and authority to indemnify its directors, officers, employees or agents,
      so that if Indemnitee is or was a director, officer, employee or agent of such
      constituent corporation or is or was serving at the request of such constituent
      corporation as a director, officer, employee or agent of another Enterprise,
      then Indemnitee shall stand in the same position under the provisions of this
      Agreement with respect to the surviving or resulting corporation as Indemnitee
      would have with respect to such constituent corporation if its separate
      existence had continued.

     

    References
      to “director, officer, employee or agent” shall include a trustee, general
      partner, managing member, fiduciary or board of directors’ committee
      member.

     

    References
      to “serving at the request of the Company” shall include any service as a
      director, officer, employee or agent of the Company or any other Enterprise
      which imposes duties on, or involves services by, such director, officer,
      employee or agent with respect to an employee benefit plan, its participants
      or
      beneficiaries; and a person who acted in good faith and in a manner such person
      reasonably believed to be in the best interests of the participants and
      beneficiaries of an employee benefit plan shall be deemed to have acted in
      a
      manner “not opposed to the best interests of the Company”.

     

    ARTICLE
      2

    SERVICES
      BY INDEMNITEE

     

    Section
      2.01 Services
      by Indemnitee.
      Indemnitee hereby agrees to continue to serve as a director of the Company,
      for
      so long as Indemnitee is duly elected or appointed or until Indemnitee tenders
      his resignation or is removed. Indemnitee retains the right to voluntarily
      resign at any time and for any reason.

     

    ARTICLE
      3

    INDEMNIFICATION
      AND ADVANCEMENT OF EXPENSES

     

    Section
      3.01 Indemnification.

     

    (a) The
      Company hereby agrees to and shall indemnify Indemnitee and hold him harmless,
      to the fullest extent permitted by applicable law, from and against any and
      all
      Expenses and Liabilities actually and reasonably incurred by Indemnitee or
      on
      Indemnitee’s behalf. 

     

    
      
         

      

      
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    (b) To
      the
      extent that Indemnitee is a party to (or a participant in) and is successful,
      on
      the merits or otherwise, in respect of any Proceeding or any claim, issue or
      matter therein, the Company shall indemnify Indemnitee against all Expenses
      actually and reasonably incurred by him or on his behalf in connection
      therewith. If Indemnitee is successful, on the merits or otherwise, as to one
      or
      more but less than all claims, issues or matters in any Proceeding, the Company
      shall indemnify Indemnitee against all Expenses actually and reasonably incurred
      by him or on his behalf in connection with each successfully resolved claim,
      issue or matter and any claim, issue or matter related to each such successfully
      resolved claim, issue or matter. For purposes of this Section
      3.01(b)
      and
      without limitation, the termination of any Proceeding or any claim, issue or
      matter in a Proceeding by dismissal, with or without prejudice, shall be deemed
      to be a successful result as to such Proceeding, claim, issue or
      matter.

     

    (c) To
      the
      extent that Indemnitee is, by reason of his Corporate Status, a witness in
      any
      Proceeding to which Indemnitee is not a party, he shall be indemnified against
      all Expenses actually and reasonably incurred by him or on his behalf in
      connection therewith.

     

    Section
      3.02 Advancement
      of Expenses.

     

    (a) The
      Company shall advance any Expenses actually and reasonably incurred by
      Indemnitee or on his behalf in connection with a Proceeding within 20 days
      after
      receipt by the Company of a written request for advancement of expenses, which
      request may be delivered to the Company at such time and from time to time
      as
      Indemnitee deems appropriate in his sole discretion. Advances shall be made
      without regard to Indemnitee’s ability to repay such amounts and without regard
      to Indemnitee’s ultimate entitlement to indemnification under this Agreement or
      otherwise. Any such advances shall be made on an unsecured basis and be interest
      free. 

     

    (b) Indemnitee
      agrees that Indemnitee shall reimburse the Company for all amounts advanced
      by
      the Company pursuant to Section
      3.02
      if and
      only to the extent that it is ultimately determined that Indemnitee is not
      entitled to be indemnified by the Company for such Expenses. Notwithstanding
      the
      foregoing, if Indemnitee seeks a judicial adjudication or an arbitration
      pursuant to Section
      5.01(a),
      Indemnitee shall not be required to reimburse the Company pursuant to this
      Section
      3.02(b)
      until a
      final determination (as to which all rights of appeal have been exhausted or
      lapsed) has been made. 

     

    Section
      3.03 Exclusions.
      Notwithstanding any provision of this Agreement to the contrary (including
      Section
      3.01
      and
Section
      3.02),
      the
      Company shall not be obligated under this Agreement to indemnify (or advance
      expenses) in connection with:

     

    (a) any
      claim
      made against Indemnitee (i) for an accounting of profits made from the purchase
      and sale (or sale and purchase) by Indemnitee of securities of the Company
      pursuant to Section 16(b) of the Exchange Act or similar provisions of state
      statutory law or common law or (ii) for reimbursement to the Company of any
      bonus or other incentive-based or equity-based compensation or of any profits
      realized by Indemnitee from the sale of securities of the Company in each case
      as required under the Exchange Act; or

     

    
      
         

      

      
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    (b) except
      for an action, suit or other proceeding contemplated by Section
      7.06(b)
      and
      except following a Change in Control (as defined below), any action, suit or
      other proceeding (or part thereof) initiated by Indemnitee (including any such
      action, suit or other proceeding (or part thereof) initiated by Indemnitee
      against the Company or its directors, officers, employees, agents or other
      indemnitees), unless (i) the Board authorized the action, suit or other
      proceeding (or part thereof) prior to its initiation or (ii) the Company
      provides the indemnification, in its sole discretion, pursuant to the powers
      vested in the Company under applicable law.

     

    Section
      3.04 Defense
      Of Claims.
      The
      Company will be entitled to participate in any Proceeding at its own expense.
      The Company shall not settle any Proceeding (in whole or in part) which would
      impose any Expense, Liability or limitation on Indemnitee without Indemnitee’s
      prior written consent, such consent not to be unreasonably withheld. Indemnitee
      shall not settle any Proceeding (in whole or in part) which would impose any
      Expense, Liability or limitation on the Company without the Company’s prior
      written consent, such consent not to be unreasonably withheld.

     

    ARTICLE
      4

    PROCEDURES
      FOR DETERMINING ENTITLEMENT TO INDEMNIFICATION

     

    Section
      4.01 Request
      for Indemnification.

     

    (a) Indemnitee
      shall notify the Company in writing as soon as reasonably practicable (i) after
      being served with any summons, citation, subpoena, complaint, indictment,
      information or other document relating to any Proceeding or (ii) if the Company
      has not been previously notified, after receipt of written notice of any other
      matter with respect to which Indemnitee intends to seek indemnification or
      advancement of expenses under Section
      3.01
      or
Section
      3.02.
      The
      omission by Indemnitee to so notify the Company will not relieve the Company
      from any liability which it may have to Indemnitee (i) under this Agreement
      except and only to the extent the Company can establish that such omission
      to
      notify resulted in actual material prejudice to the Company or (ii) otherwise
      than under this Agreement.

     

    (b) Indemnitee
      may thereafter deliver to the Company a written request for indemnification
      pursuant to this Agreement at such time and from time to time as Indemnitee
      deems appropriate in his sole discretion, which request shall also be deemed
      a
      request for advancement of expenses under Section
      3.02.

     

    Section
      4.02 Determination
      of Entitlement.

     

    (a) Except
      as
      otherwise provided pursuant to Section
      3.01(b)
      and
Section
      3.01(c),
      a
      determination shall be made with respect to Indemnitee’s entitlement thereto in
      the specific case (i) by a majority vote of the Disinterested Directors or
      of a
      committee of Disinterested Directors designated by a majority vote of the
      Disinterested Directors (in either case, even though less than a quorum of
      the
      Board) or (ii) if there are no Disinterested Director or the Disinterested
      Directors so direct, by Independent Counsel. If a Change in Control shall have
      occurred, such determination shall, if so requested by Indemnitee in his or
      her
      discretion, be made by Independent Counsel. Any determination made by
      Independent Counsel pursuant to this Section
      4.02(a)
      shall be
      in the form of a written opinion to the Board, a copy of which shall be
      delivered to Indemnitee. Indemnitee shall reasonably cooperate with the person
      or persons making such determination including providing to such person or
      persons upon reasonable advance request any documentation or information which
      is not privileged or otherwise protected from disclosure and which is reasonably
      available to Indemnitee and reasonably necessary to such determination. Any
      costs or expenses (including fees and expenses of counsel) incurred by
      Indemnitee in so cooperating with the person or persons making such
      determination shall be borne by the Company (irrespective of the determination
      as to Indemnitee’s entitlement to indemnification), and the Company hereby
      indemnifies and agrees to hold Indemnitee harmless therefrom. 

     

    
      
         

      

      
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    As
      used
      in this Agreement, the following terms shall have the following
      meanings:

     

    “Disinterested
      Director”
means
      a
      director of the Company who is not and was not a party to the Proceeding in
      respect of which indemnification or advancement of expenses is sought by
      Indemnitee.

     

    “Change
      in Control”
shall
      be deemed to have occurred in any one of the following circumstances occurring
      after the date hereof: 

     

    (i) any
      “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
      Exchange Act) (other than a trustee or other fiduciary holding securities under
      an employee benefit plan of the Company) shall have become, without prior
      approval of the Company’s Board, the “beneficial owner” (as defined in Rule
      13d-3 under the Exchange Act), directly or indirectly, of voting securities
      of
      the Company representing 15% or more of the total voting power of the Company’s
      then outstanding voting securities;

     

    (ii) the
      individuals who on the date hereof constitute the Board (including, for this
      purpose, any new director whose election or nomination for election by the
      Company’s stockholders was approved by a vote of at least a majority of the
      directors then still in office who were directors on the date hereof or whose
      election or nomination was so approved) cease for any reason to constitute
      at
      least a majority of the members of the Board; or

     

    (iii) the
      stockholders of the Company shall have approved a merger or consolidation of
      the
      Company with any other entity, other than a merger or consolidation which would
      result in the voting securities of the Company outstanding immediately prior
      to
      such merger or consolidation continuing to represent (either by remaining
      outstanding or by being converted into voting securities of the surviving or
      resulting entity) more than 51% of the total voting power of the voting
      securities of the surviving or resulting entity outstanding immediately after
      such merger or consolidation and with the power to elect at least a majority
      of
      the board of directors or other governing body of such surviving or resulting
      entity;

     

    (iv) the
      stockholders of the Company shall have approved a plan of complete liquidation
      of the Company or the sale or other disposition of all or substantially all
      of
      the assets of the Company;

     

    
      
         

      

      
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    (v) there
      shall have occurred an event required to be reported with respect to the Company
      in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response
      to
      any similar item on any similar schedule or form) under the Exchange Act,
      regardless of whether the Company is then subject to such reporting
      requirement.

     

    “Independent
      Counsel”
means
      a
      law firm, or a member of a law firm, that is experienced in matters of corporate
      law and neither currently is, nor in the five years previous to its selection
      or
      appointment has been, retained to represent (i) the Company or Indemnitee in
      any
      matter material to either such party (provided that acting as an Independent
      Counsel under this Agreement or in a similar capacity with respect to any other
      indemnification arrangements between the Company and its present or former
      directors shall not be deemed a representation of the Company or Indemnitee)
      or
      (ii) any other party to the Proceeding giving rise to a claim for
      indemnification or advancement of expenses hereunder. Notwithstanding the
      foregoing, the term “Independent Counsel” shall not include any person who,
      under the applicable standards of professional conduct then prevailing, would
      have a conflict of interest in representing either the Company or Indemnitee
      in
      an action to determine Indemnitee’s rights under this Agreement.

     

    (b) If
      the
      determination is to be made by Independent Counsel, such Independent Counsel
      shall be selected as provided in this Section
      4.02(b).
      If a
      Change in Control shall not have occurred, the Independent Counsel shall be
      selected by the Board (and shall be reasonably acceptable to Indemnitee), and
      the Company shall give written notice to Indemnitee advising him of the identity
      of the Independent Counsel so selected. If a Change in Control shall have
      occurred, the Independent Counsel shall be selected by Indemnitee and be
      reasonably acceptable to the Company (unless Indemnitee shall request that
      such
      selection be made by the Board, in which event the preceding sentence shall
      apply), and Indemnitee shall give written notice to the Company advising it
      of
      the identity of the Independent Counsel so selected. If, within 20 days after
      receipt by the Company of a request for indemnification pursuant to Section
      4.01(b),
      no
      Independent Counsel shall have been selected and not objected to, either the
      Company or Indemnitee may petition a court of competent jurisdiction (or, at
      Indemnitee’s option pursuant to Section
      5.01,
      an
      arbitration) for resolution of any objection which shall have been made to
      the
      selection of Independent Counsel and/or for the appointment of another person
      as
      Independent Counsel, and the person with respect to whom all objections are
      so
      resolved or the person so appointed shall act as Independent Counsel. The
      Company agrees to pay the reasonable fees and expenses of any Independent
      Counsel appointed pursuant to this Section and to indemnify such person against
      any and all expenses, claims, liabilities and damages arising out of or relating
      to this Agreement or its engagement pursuant hereto. Upon the due commencement
      of any judicial proceeding pursuant to Section
      5.01(a)
      of this
      Agreement, the Independent Counsel shall be discharged and relieved of any
      further responsibility in such capacity (subject to the applicable standards
      of
      professional conduct then prevailing).

     

    (c) The
      determination with respect to Indemnitee’s entitlement to indemnification shall,
      to the extent practicable, be made pursuant to the foregoing provisions of
      this
Section
      4.02
      not
      later than 30 calendar days after receipt by the Company of a written demand
      on
      the Company for indemnification (which written demand shall include such
      documentation and information as is reasonably available to Indemnitee and
      is
      reasonably necessary to determine whether and to what extent Indemnitee is
      entitled to indemnification). The body or person making the determination with
      respect to Indemnitee’s entitlement to indemnification shall notify Indemnitee
      of such written determination no later than two business days
      thereafter.

     

    
      
         

      

      
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    (d) If
      it is
      determined that Indemnitee is entitled to indemnification, payment to Indemnitee
      shall be made within 20 days after such determination. 

     

    Section
      4.03 Presumptions
      and Burdens of Proof; Effect of Certain Proceedings.

     

    (a) In
      making
      any determination as to Indemnitee’s entitlement to indemnification hereunder,
      Indemnitee shall be entitled to a presumption that he is entitled to
      indemnification under this Agreement if Indemnitee has submitted a request
      for
      indemnification in accordance with Section
      4.01(b),
      and the
      Company shall have the burdens of coming forward with evidence and of persuasion
      to overcome that presumption.

     

    (b) The
      termination of any Proceeding or of any claim, issue or matter therein by
      judgment, order, settlement or conviction, or upon a plea of nolo contendere
      or
      its equivalent, shall not of itself create a presumption that Indemnitee did
      not
      meet any particular standard of conduct or have any particular belief or that
      a
      determination has been made that imdemnification is not permitted pursuant
      to
      this Agreement.

     

    (c) For
      purposes of any determination of good faith, Indemnitee shall be deemed to
      have
      acted in good faith if Indemnitee’s action is based on the records or books of
      account of the Company or other Enterprise, as applicable, including financial
      statements, or on information supplied to Indemnitee by the officers of such
      entity in the course of their duties, or on the advice of legal counsel for
      such
      entity or on information or records given or reports made to such entity by
      an
      independent certified public accountant, appraiser or other expert selected
      with
      reasonable care by such entity. The provisions of this Section
      4.03(c)
      shall
      not be deemed to be exclusive or to limit in any way other circumstances in
      which Indemnitee may be deemed or found to have met the applicable standard
      of
      conduct to be indemnified pursuant to this Agreement.

     

    (d) The
      knowledge or actions or failure to act of any other director, officer, employee
      or agent of the Company or other Enterprise, as applicable, shall not be imputed
      to Indemnitee for purposes of determining Indemnitee’s right to indemnification
      under this Agreement.

     

    (e) If
      a
      determination as to Indemnitee’s entitlement to indemnification shall not have
      been made pursuant to this Agreement within 60 days after receipt by the Company
      of the request therefor or disposition of the matter that is the subject of
      the
      request for indemnification, the requisite determination of entitlement to
      indemnification shall be deemed to have been made in favor of Indemnitee, and
      Indemnitee shall be entitled to such indemnification, absent a misstatement
      of a
      material fact in the information provided by Indemnitee pursuant to Section
      4.01(b)
      and
Section
      4.02(a)
      or an
      omission of a material fact necessary in order to make the information provided
      not misleading; provided that such 60-day period may be extended for a
      reasonable time, not to exceed an additional 30 days, if the person or persons
      making the determination in good faith requires such additional time to obtain
      or evaluate any documentation or information relating thereto.

     

    
      
         

      

      
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    ARTICLE
      5

    RIGHTS
      TO
      ADJUDICATION OF ADVERSE DETERMINATION, ETC.

     

    Section
      5.01 Adjudication
      or Arbitration.

     

    (a) Indemnitee
      shall be entitled to an adjudication (by a court of competent jurisdiction
      or,
      at Indemnitee’s option, through an arbitration conducted by a single arbitrator
      pursuant to the Commercial Arbitration Rules of the American Arbitration
      Association) of any determination pursuant to Section
      4.02
      that
      Indemnitee is not entitled to indemnification under this Agreement. Any such
      adjudication shall be conducted in all respects as a de novo trial or
      arbitration on the merits, and any prior adverse determination shall not be
      referred to or introduced into evidence, create a presumption that Indemnitee
      is
      not entitled to indemnification or advancement of expenses, be a defense or
      otherwise adversely affect Indemnitee. In any such judicial proceeding or
      arbitration, the provisions of Section
      4.03
      (including the presumption in favor of Indemnitee and the burdens on the
      Company) shall apply.

     

    (b) Indemnitee
      shall also be entitled to an adjudication (by a court of competent jurisdiction
      or, at Indemnitee’s option, through an arbitration as described above) of any
      other disputes under this Agreement.

     

    (c) If
      a
      determination shall have been made pursuant to Section
      4.02
      that
      Indemnitee is entitled to indemnification, the Company shall be bound by such
      determination in any judicial proceeding or arbitration commenced pursuant
      to
      this Section
      5.01,
      absent
      a misstatement of a material fact in the information provided by Indemnitee
      pursuant to Section
      4.01(b)
      and
Section
      4.02(a)
      or an
      omission of a material fact necessary in order to make the information provided
      not misleading.

     

    (d) In
      connection with any judicial proceeding or arbitration commenced pursuant to
      this Section
      5.01,
      the
      Company shall not oppose Indemnitee’s right to seek such adjudication, shall be
      precluded from asserting that the procedures and presumptions of this Agreement
      are not valid, binding or enforceable and shall stipulate in any such court
      or
      before any such arbitrator that the Company is bound by all of the provisions
      of
      this Agreement.

     

    ARTICLE
      6

    DIRECTORS’
      AND OFFICERS’ LIABILITY INSURANCE

     

    Section
      6.01 D&O
      Liability Insurance.

     

    (a) To
      the
      extent the Company obtains any insurance policies providing liability insurance
      (“Liability
      Insurance”)
      for
      directors of the Company in their capacities as directors or in any other
      capacities where they are acting for or on behalf of the Company, in respect
      of
      acts or omissions occurring while serving in any such capacity, Indemnitee
      shall
      be covered by such insurance policies as in effect from time to time in
      accordance with the applicable terms to the maximum extent of the coverage
      provided under such policies for any other director.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    (b) To
      the
      extent the Company has any such liability insurance policies, the Company shall,
      promptly after receiving notice of a Proceeding as to which Indemnitee is a
      party or a participant (as a witness or otherwise), give notice of such
      Proceeding to the insurers under such policies in accordance with the procedures
      set forth in the respective policies and shall thereafter take all necessary
      or
      desirable actions to cause such insurers to pay, on behalf of Indemnitee, all
      amounts payable as a result of such Proceeding in accordance with the terms
      of
      such policies. The failure or refusal of any such insurer to pay any such amount
      shall not affect or impair the obligations of the Company under this
      Agreement.

     

    (c) Upon
      request by Indemnitee, the Company shall provide to Indemnitee copies of the
      Liability Insurance policies as in effect from time to time. The Company shall
      promptly notify Indemnitee of any material changes in such insurance coverage.
      

     

    ARTICLE
      7

    MISCELLANEOUS

     

    Section
      7.01 Nonexclusivity
      of Rights.
      The
      rights of indemnification and advancement of expenses provided by this Agreement
      shall not be deemed exclusive of any other rights to which Indemnitee may at
      any
      time be entitled to under applicable law, the Company’s certificate of
      incorporation or bylaws, any other agreement, any vote of stockholders or
      resolution of directors or otherwise. No amendment, alteration or repeal of
      this
      Agreement or of any provision hereof shall limit or restrict any right of
      Indemnitee under this Agreement in respect of any action taken or omitted by
      such Indemnitee in his Corporate Status prior to such amendment, alteration
      or
      repeal. To the extent that a change in Delaware law, whether by statute or
      judicial decision, permits greater indemnification or advancement of expenses
      than would be afforded currently under this Agreement, it is the intent of
      the
      parties hereto that Indemnitee shall be entitled under this Agreement to the
      greater benefits so afforded by such change. No right or remedy herein conferred
      is intended to be exclusive of any other right or remedy, and every right and
      remedy shall be cumulative and in addition to every other right and remedy
      given
      hereunder or now or hereafter existing at law or in equity or otherwise. The
      assertion or employment of any right or remedy hereunder or otherwise shall
      not
      prevent the concurrent assertion or employment of any other right or
      remedy.

     

    Section
      7.02 Subrogation,
      etc. 

     

    (a) In
      the
      event of any payment under this Agreement, the Company shall be subrogated
      to
      the extent of such payment to all of the rights of recovery of Indemnitee,
      who
      shall execute all papers required and take all actions necessary to secure
      such
      rights, including execution of such documents as are necessary to enable the
      Company to bring suit to enforce such rights.

     

    (b) The
      Company shall not be liable under this Agreement to make any payment of amounts
      otherwise indemnifiable hereunder (or for which advancement is provided
      hereunder) if and to the extent that Indemnitee has otherwise actually received
      such payment under any insurance policy or otherwise.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    (c) The
      Company’s obligation to indemnify or advance expenses hereunder to Indemnitee
      who is or was serving at the request of the Company as a director, officer,
      employee or agent of any other Enterprise shall be reduced by any amount
      Indemnitee has actually received as indemnification or advancement of expenses
      from such Enterprise.

     

    Section
      7.03 Contribution.
      To the
      fullest extent permissible under applicable law, if the indemnification provided
      for in this Agreement is unavailable to Indemnitee for any reason whatsoever,
      the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount
      incurred by Indemnitee or on his behalf, whether for Liabilities and/or Expenses
      in connection with a Proceeding or other expenses relating to an indemnifiable
      event or transaction under this Agreement, in such proportion as is deemed
      fair
      and reasonable in light of all of the circumstances of such action, suit or
      other proceeding in order to reflect (i) the relative benefits received by
      the
      Company and Indemnitee as a result of the event(s) and/or transaction(s) giving
      rise to such action, suit or other proceeding; and/or (ii) the relative fault
      of
      the Company (and its directors, officers, employees and agents) and Indemnitee
      in connection with such event(s) and/or transaction(s).

     

    Section
      7.04 Amendment.
      This
      Agreement may not be modified or amended except by a written instrument executed
      by or on behalf of each of the parties hereto.

     

    Section
      7.05 Waivers.
      The
      observance of any term of this Agreement may be waived (either generally or
      in a
      particular instance and either retroactively or prospectively) only by a writing
      signed by the party against which such waiver is to be asserted. Unless
      otherwise expressly provided herein, no delay on the part of any party hereto
      in
      exercising any right, power or privilege hereunder shall operate as a waiver
      thereof, nor shall any waiver on the part of any party hereto of any right,
      power or privilege hereunder operate as a waiver of any other right, power
      or
      privilege hereunder nor shall any single or partial exercise of any right,
      power
      or privilege hereunder preclude any other or further exercise thereof or the
      exercise of any other right, power or privilege hereunder.

     

    Section
      7.06 Expenses.

     

    (a) The
      Company shall pay all costs and expenses (including fees and expenses of
      counsel) incurred by the Company and Indemnitee in connection with the
      preparation of this Agreement.

     

    (b) The
      Company shall indemnify and hold Indemnitee harmless from any and all costs
      and
      expenses (including fees and expenses of counsel) actually and reasonably
      incurred by Indemnitee or on his behalf in seeking (whether through a judicial
      proceeding or arbitration (including any appeal resulting therefrom) or
      otherwise) to enforce any rights against the Company for indemnification or
      advancement of expenses (whether under this Agreement or otherwise) or to
      recover under any liability insurance policy maintained by any person for the
      benefit of Indemnitee in connection with the performance of his duties for
      or on
      behalf of the Company, in each case, whether or not Indemnitee is successful
      (in
      whole or in part) with respect to his claims. The Company shall pay (or
      reimburse Indemnitee for the payment of) any such costs or expenses within
      20
      days after receipt by the Company of a written request for the payment of such
      amounts, which request may be delivered to the Company at such time or from
      time
      to time as Indemnitee deems appropriate in his sole discretion (whether prior
      to
      or after final disposition of any such matter). Indemnitee shall have no
      obligation to reimburse any amounts paid by the Company pursuant to this
Section
      7.06(b).
      

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    Section
      7.07 Entire
      Agreement.
      This
      Agreement constitutes the entire agreement between the parties hereto with
      respect to the matters covered herein and supersedes all prior oral or written
      understandings or agreements with respect to the matters covered herein. This
      Section
      7.07
      shall
      not be construed to limit any other rights Indemnitee may have under the
      Company’s certificate of incorporation or bylaws, applicable law or otherwise.

     

    Section
      7.08 Severability.
      If any
      provision or provisions of this Agreement shall be held to be invalid, illegal
      or unenforceable for any reason whatsoever: (a) the validity, legality and
      enforceability of the remaining provisions of this Agreement (including, without
      limitation, each portion of any Section of this Agreement containing any such
      provision held to be invalid, illegal or unenforceable, that is not itself
      invalid, illegal or unenforceable) shall not in any way be affected or impaired
      thereby and shall remain enforceable to the fullest extent permitted by law;
      (b)
      such provision or provisions shall be deemed reformed to the extent necessary
      to
      conform to applicable law and to give the maximum effect to the intent of the
      parties hereto; and (c) to the fullest extent possible, the provisions of this
      Agreement (including, without limitation, each portion of any Section of this
      Agreement containing any such provision held to be invalid, illegal or
      unenforceable, that is not itself invalid, illegal or unenforceable) shall
      be
      construed so as to give effect to the intent manifested thereby.

     

    Section
      7.09 Notices.
      All
      notices, requests, demands and other communications under this Agreement shall
      be in writing and shall be deemed to have been duly given (a) if delivered
      by
      hand or by courier and receipted for by the party to whom said notice or other
      communication shall have been directed, (b) if mailed by certified or registered
      mail with postage prepaid, on the third business day after the date on which
      it
      is so mailed or (c) if sent by facsimile transmission and fax confirmation
      is
      received, on the next business day following the date on which such facsimile
      transmission was sent. Addresses for notice to either party are as shown on
      the
      signature page of this Agreement, or such other address as any party shall
      have
      given by written notice to the other party as provided above. 

     

    Section
      7.10 Binding
      Effect.
      

     

    (a) The
      Company expressly confirms and agrees that it has entered into this Agreement
      and assumed the obligations imposed on it hereby in order to induce Indemnitee
      to serve as a director of the Company, and the Company acknowledges that
      Indemnitee is relying upon this Agreement in serving as a director of the
      Company.

     

    (b) This
      Agreement shall be binding upon and inure to the benefit of and be enforceable
      by the parties hereto and their respective successors and permitted assigns,
      including any direct or indirect successor by purchase, merger, consolidation
      or
      otherwise to all or substantially all of the business and/or assets of the
      Company, heirs, executors, administrators or other successors. The Company
      shall
      require and cause any successor (whether direct or indirect by purchase, merger,
      consolidation or otherwise) to all or substantially all or a substantial part
      of
      the business or assets of the Company, by written agreement in the form and
      substance reasonably satisfactory to Indemnitee, expressly to assume and agree
      to perform this Agreement in the manner and to the same extent that the Company
      would be required to perform if no such succession had taken place.

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    (c) The
      indemnification and advancement of expenses provided by this Agreement shall
      continue as to a person who has ceased to be a director, officer, employee
      or
      agent or is deceased and shall inure to the benefit of the heirs, executors,
      administrators or other successors of the estate of such person.

     

    Section
      7.11 Governing
      Law.
      This
      Agreement and the legal relations among the parties hereto shall be governed
      by,
      and construed and enforced in accordance with, the laws of the State of
      Delaware, without regard to its conflict of laws rules.

     

    Section
      7.12 Consent
      To Jurisdiction.
      Except
      with respect to any arbitration commenced by Indemnitee pursuant to Section
      5.01,
      the
      Company and Indemnitee hereby irrevocably and unconditionally (i) agree that
      any
      action, suit or other proceeding arising out of or in connection with this
      Agreement shall be brought only in the Delaware Chancery Court and any court
      to
      which an appeal may be taken in such action, suit or other proceeding (the
      “Delaware
      Court”),
      and
      not in any other state or federal court in the United States of America or
      any
      court in any other country, (ii) consent to submit to the exclusive jurisdiction
      of the Delaware Court for purposes of any action, suit or other proceeding
      arising out of or in connection with this Agreement, (iii) waive any objection
      to the laying of venue of any such action, suit or other proceeding in the
      Delaware Court, and (iv) waive, and agree not to plead or to make, any claim
      that any such action, suit or other proceeding brought in the Delaware Court
      has
      been brought in an improper or inconvenient forum.

     

    Section
      7.13 Headings.
      The
      Article and Section headings in this Agreement are for convenience of reference
      only, and shall not be deemed to alter or affect the meaning or interpretation
      of any provisions hereof.

     

    Section
      7.14 Counterparts.
      This
      Agreement may be executed in one or more counterparts, each of which shall
      for
      all purposes be deemed to be an original but all of which together shall
      constitute one and the same Agreement. Only one such counterpart signed by
      the
      party against whom enforceability is sought needs to be produced to evidence
      the
      existence of this Agreement.

     

    Section
      7.15 Use
      of Certain Terms.
      As used
      in this Agreement, the words “herein,” “hereof,” and “hereunder” and other words
      of similar import refer to this Agreement as a whole and not to any particular
      paragraph, subparagraph, section, subsection, or other subdivision. Whenever
      the
      context may require, any pronoun used in this Agreement shall include the
      corresponding masculine, feminine or neuter forms, and the singular form of
      nouns, pronouns and verbs shall include the plural and vice versa.

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, this Agreement has been duly executed and delivered to be
      effective as of the date first above written.

     

    
      	 	
              Memry
                Corporation

            
	 	 	 	 
	 	 	 	 
	 	
              By:

            	 
	 	
               

            	
              Name:

            	
               

            
	 	
               

            	
              Title:

            	
               

            
	 	 	 	 
	 	
              Address:

            	 
	 	
              Facsimile:

            	 
	 	
              Attention:

            	 
	 	 	 	 
	 	
              With
                a copy to:

            	 
	 	 	 	 
	 	
              Finn
                Dixon & Herling LLP

            
	 	
              177
                Broad Street, 15th Floor

            
	 	
              Stamford,
                CT 06901

            
	 	
              Telephone:

            	
              (203)
                325-5000

            
	 	
              Facsimile:

            	
              (203)
                325-5001

            
	 	
              Attention:

            	
              David
                I. Albin

            
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	   

	 	 
	 	
              Address:

            
	 	
              Facsimile:

            
	 	 	 	 
	 	
              With
                a copy to:

            
	 	 	 	 
	 	   

	 	 	 	 
	 	
              Address:

            	 
	 	
              Facsimile:

            	 
	 	
              Attention:

            	 

    

    

     

    
      
         

      

      
        14Unassociated Document

    MEMBERSHIP
      INTEREST PURCHASE AGREEMENT

    

    THIS
      MEMBERSHIP INTEREST PURCHASE AGREEMENT (this
      “Agreement”)
      is
      effective as of June 20, 2008, by and among Avantair, Inc., a Delaware
      corporation, with offices located at 4311 General Howard Drive, Clearwater,
      FL
      33762 (“Seller”),
      Share
      100 Holding Co., LLC , a Delaware limited liability company, with offices
      currently located at 2711 Centerville Road, Suite 400, Wilmington, DE 19808
      (the
“Company”),
      and
      Executive AirShare Corporation, a Kansas corporation, with offices located
      at
      150 Richards Road, Suite 103, Kansas City, MO 64116 (“Purchaser”).
      Seller, Company and Purchaser are sometimes referred to herein individually
      as a
“Party”,
      and
      collectively as the “Parties”.
      

    

    RECITALS:

    

    WHEREAS,
      Seller
      is currently the sole member of the Company and therefore owns one hundred
      percent (100%) of the membership interests of the Company; 

    

    WHEREAS,
      concurrent with the Closing, Seller and Purchaser will cause the current
      operating agreement of the Company to be amended and restated in accordance
      with
      the terms and conditions herein (the “Restated
      Operating Agreement”),
      which
      shall supersede any and all prior Operating Agreements and shall provide for
      two
      separate classes of membership interests in the Company, a Class A membership
      interest (the “Class
      A Interest”)
      and a
      Class B membership interest (the “Class
      B Interest”);

    

    WHEREAS,
      subject
      to and in accordance with the terms and conditions hereof, Purchaser desires
      to
      acquire from Seller the entire Class A Interest, and Seller desires to sell,
      transfer and assign to Purchaser the entire Class A Interest; and 

    

    WHEREAS,
      as a
      result of the Closing of the transactions contemplated hereby, Purchaser will
      become the sole record and beneficial owner of the Class A Interest, and Seller
      will remain the sole record and beneficial owner of the Class B Interest.

    

    NOW
      THEREFORE,
      in
      consideration of the foregoing, the terms, covenants and conditions set forth
      herein, and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the Parties agree as
      follows:

    

    ARTICLE
      I

    DEFINITIONS

    

    1.1 Definitions.
      For
      purposes of this Agreement, the following terms have the meanings set forth
      below:

    

    “Agreement”
means
      this Membership Interest Purchase Agreement.

    

    “Assignment
      Document”
means
      that certain Purchase Agreement VAE-180V/2006 executed between the Seller and
      the Company, dated June 20, 2008, and acknowledged and consented to by Embraer
      in the form of that certain Consent and Agreement attached thereto as Annex
      I,
      dated June 20, 2008, pursuant to which, among other things, all of Seller’s
      right, title and interest in, to and under each of the APA and the LOA were
      be
      assigned, transferred and conveyed over to the Company. A copy of the Assignment
      Document is attached hereto as Exhibit B.

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

       

    

    “Class
      A Interest”
has
      the
      meaning set forth in the Recitals. 

    

    “Class
      B Interest”
has
      the
      meaning set forth in the Recitals. 

    

    “Closing”
has
      the
      meaning set forth in Section 2.3.

    

    “Closing
      Date”
has
      the
      meaning set forth in Section 2.3. 

    

    “Embraer”
means
      Empresa Brasilleira de Aeronautica, S.A. 

    

    “Embraer
      Consent”
means
      the written Consent and Agreement of Embraer to the assignment of all of
      Seller’s right, title and interest in, to and under the APA and the LOA to the
      Company pursuant to the Assignment Document, which Embraer Consent is attached
      to and contained within the Assignment Document.

    

    “Embraer
      Contracts”
means
      the Embraer Consent, the Assignment Document, and that certain Embraer
      Phenom 100 Purchase Agreement VAE-180V/2006, dated September 29, 2006, by and
      between Seller and Embraer, as the same has been amended, supplemented or
      otherwise modified by Amendment 1 to Purchase Agreement VAE-180V/2006, dated
      June 20, 2008 (the “APA”), and that related Letter of Agreement VAE-181V/2006,
      between Embraer and Seller, dated September 29, 2006 (the “LOA”), as the same
      has been amended, supplemented or otherwise modified by Amendment 1 to Letter
      of
      Agreement VAE-181V/2006, dated June 20, 2008.

    

    “Governmental
      Authority”
means
      any instrumentality, subdivision, court, administrative agency, commission,
      official or other authority of the United States or any other country or any
      state, county, province, municipality, locality or other government or political
      subdivision thereof, any quasi-governmental or private body exercising any
      regulatory, taxing or other governmental or quasi-governmental authority, or
      any
      arbitrator.

    

    “Law”
means
      any statute, law, ordinance, rule, regulation, mandate, order, writ, injunction,
      judgment, decree, ruling, charge, or other requirement of, or any agreement
      with, any Governmental Authority.

    

    “Liens”
means
      all judgments, pledges, interests, rights of first refusal or first offer,
      mortgages, indentures, claims, liens, security interests and other encumbrances
      of every kind and nature.

    

    “Person”
means
      any individual, corporation, partnership, limited liability company, joint
      venture, association, bank, trust company, trust or other entity, or any
      Governmental Authority. 

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    “Purchase
      Documents”
means,
      collectively, each and every agreement, document, certificate or instrument
      to
      be executed by Purchaser pursuant to or in connection with this
      Agreement. 

    

    “Restated
      Operating Agreement”
has
      the
      meaning set forth in the Recitals.

    

    “Restrictions”
means,
      except as set forth in the Company’s Certificate of Formation or Restated
      Operating Agreement, all of the following with respect to the membership
      interests of the Company: options, proxies, voting trusts, voting agreements,
      member agreements, preemptive rights, rights of first refusal or offer, transfer
      restrictions and similar rights or restrictions (other than those imposed by
      applicable Law).

    

    “Seller
      Documents”
means,
      collectively, each and every agreement, document, certificate or instrument
      to
      be executed by Seller and/or the Company pursuant to or in connection with
      this
      Agreement.

    

    “Taxes”
means
      any federal, state, local and foreign income (including but not limited to
      those
      assessed on capital gain), payroll, withholding, excise, sales, use, license,
      lease, personal and other property, use and occupancy, business and occupation,
      mercantile, real estate, ad valorem, gross receipts, employment, payroll,
      severance, stamp, premium, windfall profits, social security (or similar
      unemployment), disability, transfer, registration, value-added, alternative
      or
      add-on minimum, estimated, capital stock and franchise and other tax of any
      kind
      whatsoever, including customs, conveyance fees, duties or other governmental
      fees and like assessments or charges of whatever kind, and all interest and
      penalties thereon, whether or not disputed.

    

    ARTICLE
      II

    SALE
      OF CLASS A 

    INTEREST;
      CLOSING

    

    2.1 Sale
      and Purchase.
      Subject
      to the terms and conditions set forth herein, at the Closing, Purchaser shall
      purchase from Seller, and Seller shall sell, assign, transfer and deliver to
      Purchaser, the Class A Interest, free and clear of any and all Liens and
      Restrictions. 

    

    2.2
       Purchase
      Price.
      The
      aggregate purchase price for the acquisition of the Class A Interest hereunder
      by Purchaser shall be Five Hundred Twenty Thousand Dollars ($520,000.00) (the
      “Purchase
      Price”),
      which
      shall be paid by Purchaser as follows: (a) Three Hundred Thousand Dollars ($300,000.00)
      shall be paid to Aero Records & Title in Oklahoma City, Oklahoma, as escrow
      agent (the “Escrow Agent”) upon the Parties’ execution of this Agreement as a
      refundable deposit (the “Deposit”), to be applied to the payment of the Purchase
      Price at Closing, and (b) the balance of Two Hundred Twenty Thousand Dollars
      ($220,000.00) shall be paid directly to the Seller at Closing (subject to the
      conditions herein) by wire transfer of immediately available funds to an account
      designated by Seller. 

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    2.3 Capital
      Contribution.
      Concurrent with Closing, and subject to the conditions to Closing as set forth
      herein, Purchaser shall make an initial contribution to the capital of the
      Company of One Million Nine Hundred Fifty Thousand Dollars ($1,950,000.00)
      (the
“Purchaser Initial Capital Contribution”), which funds shall then be immediately
      thereafter distributed to the Class B Member as a dividend, in each case in
      accordance with the terms and conditions of the Restated Operating Agreement.
      

    

    2.4 Closing.
      The
      closing and consummation of the transactions contemplated by this Agreement
      (the
“Closing”)
      shall
      take place as soon as practicable but in no event later than the third business
      day following the satisfaction or waiver of all conditions set forth in Article
      VII (other than the conditions with respect to actions the Parties will take
      at
      the Closing itself), or on such other date and time as shall be mutually upon
      by
      the Parties, subject, however, to the provisions of Article IX (the
“Closing
      Date”).
      

    

    2.5 Deliveries
      and Proceedings at Closing.
      At the
      Closing, the Parties shall deliver the documents set forth below, each of which
      shall be considered a condition precedent to Closing and the obligations of
      each
      other Party hereto. All documents which any Party shall deliver to the others
      shall be in form and substance reasonably satisfactory to the other Parties
      and
      their counsel.

    

    (a)
       Deliveries
      of Seller.
      Seller
      and Company shall deliver to Purchaser:

    

    (i)
      a
      certificate of good standing for each of Seller and the Company issued within
      five (5) days of the Closing Date by the Secretary of State of Delaware;

    

    (ii)
      a
      true, accurate and complete copy of (A) the Restated Operating Agreement,
      executed by Seller, and which shall be consistent with the terms and conditions
      set forth in Exhibit
      A
      and
      otherwise in form and substance mutually agreed to between Seller and Purchaser,
      and (B) each other Seller Document, in each case duly executed by Seller and/or
      the Company, as the case may be; 

    

    (iii)
      a
      true, accurate and complete copy of the fully executed Assignment Document,
      including the Embraer Consent, together with a true, accurate and complete
      original copy of each of the other Embraer Contracts; 

    

    (iv)
      all
      consents, assignments, authorizations and approvals necessary for Seller and
      the
      Company to consummate in full the transactions contemplated by this Agreement,
      each duly executed and in a form reasonably satisfactory to Purchaser;

    

    (v)
      a
      certificate of a duly authorized officer of Seller certifying as true and
      correct the following: (A) the incumbency and specimen signature of each officer
      of Seller and Company executing this Agreement or any Seller Document; (B)
      a
      copy of the resolutions of the board of directors of Seller authorizing the
      execution, delivery and performance by Seller and/or the Company, as the case
      may be, of this Agreement, the Restated Operating Agreement, the Embraer
      Consent, the Assignment Document, the other Seller Documents, and all
      transactions contemplated hereby and thereby, and (C) a copy of the resolutions
      of the Manager and sole member of the Company authorizing the execution,
      delivery and performance by the Company of this Agreement, the Restated
      Operating Agreement, the Seller Documents to which the Company is or will be
      a
      party, and all transactions contemplated hereby and thereby; and

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    (vi)
      all
      other documents required to be delivered by Seller or the Company to Purchaser
      at or prior to the Closing pursuant to the terms of this Agreement or as
      Purchaser may otherwise reasonably request.

    

    (b)
       Deliveries
      of Purchaser.
      Purchaser shall deliver to Seller and the Company, as applicable:

    

    (i)
      a
      certificate of good standing for Purchaser issued within five (5) days of the
      Closing Date by the Secretary of State of Kansas;

    

    (ii)
      the
      Purchase Price and the Purchaser Initial Capital Contribution in accordance
      with
      Section 2.2 and Section 2.3 hereof; 

    

    (iii)
      a
      true, accurate and complete copy of (A) the Restated Operating Agreement,
      executed by Purchaser, which shall be consistent with the terms and conditions
      set forth in Exhibit
      A
      and
      otherwise in form and substance mutually agreed to between Seller and Purchaser,
      and (B) each other Purchaser Document, in each case duly executed by Purchaser;
      

    

    (iv)
      a
      certificate of a duly authorized officer of Purchaser certifying as true and
      correct the following: (A) the incumbency and specimen signature of each officer
      of Purchaser executing this Agreement or any Purchaser Document; and (B) a
      copy
      of the resolutions of the board of directors of Purchaser authorizing the
      execution, delivery and performance by Purchaser of this Agreement, the Restated
      Operating Agreement, the Purchase Documents, and all transactions contemplated
      hereby and thereby; 

    

    (v)
      all
      consents, assignments, authorizations and approvals necessary for Purchaser
      to
      consummate in full the transactions contemplated by this Agreement, each duly
      executed and in a form reasonably satisfactory to Seller ; and 

    

    (vi)
      all
      other documents required to be delivered by Purchaser to Seller at or prior
      to
      the Closing pursuant to the terms of this Agreement or as Seller may otherwise
      reasonably request.

    

    ARTICLE
      III

    REPRESENTATIONS
      AND 

    WARRANTIES
      OF SELLER AND THE COMPANY 

    

    Seller
      and the Company hereby jointly and severally represent and warrant to Purchaser
      as of the date hereof and as of the Closing as follows:

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    3.1 Organization
      and Good Standing. Seller
      is
      a corporation duly organized, validly existing and in good standing under the
      laws of Delaware, and has all requisite power and authority to own, lease and
      operate its properties and assets as now owned, leased and operated and to
      carry
      on its business as and where presently conducted. The Company is a limited
      liability company duly organized, validly existing and in good standing under
      the laws of Delaware, and has all requisite power and authority to own, lease
      and operate its properties and assets as now owned, leased and operated and
      to
      carry on its business as and where presently conducted. Seller and the Company
      are each qualified or licensed to do business and in good standing in each
      jurisdiction where required.

    

    3.2 Authorization
      and Enforceability.
      Seller
      and the Company have the full power and authority to make, execute, deliver
      and
      perform this Agreement, the Embraer Contracts, the Seller Documents and the
      Restated Operating Agreement, and to consummate the transactions contemplated
      hereby and thereby. The execution, delivery and performance of this Agreement,
      the Seller Documents and the Restated Operating Agreement, and the consummation
      of the transactions contemplated hereby and thereby, by Seller and the Company
      have been duly authorized, duly executed and delivered by Seller and the
      Company, and this Agreement, the Seller Documents and the Restated Operating
      Agreement constitute legal, valid and binding obligations of Seller and/or
      the
      Company, as the case may be, enforceable against them in accordance with their
      terms, except to the extent that enforcement may be affected by Laws relating
      to
      bankruptcy, reorganization, insolvency and creditors’ rights and by the
      availability of injunctive relief, specific performance and other equitable
      remedies.

    

    3.3 No
      Violation. The
      execution, delivery and performance of this Agreement, the Seller Documents,
      the
      Embraer Contracts and the Restated Operating Agreement do not, and the
      consummation of the transactions contemplated hereby and thereby will not,
      violate, conflict with or result in a default under (a) any of the
      organizational documents of Seller or the Company, (b) any resolution of the
      governing body or equity holders of either Seller or the Company, (c) any right
      or interest in favor of any other Person, (d) any agreement, contract,
      instrument, commitment or understanding to which Seller and/or the Company
      is a
      party or by which any of their assets may be bound or affected, (e) any
      judgment, decree or order of any court, arbiter, or Governmental Authority,
      or
      (f) any applicable Law.

    

    3.4 Consents.
      Except
      for the Embraer Consent and any filings the Seller is required to make with
      the
      Securities and Exchange Commission, no consent, approval or authorization of,
      registration or filing with, or notice to, any Person is required by Seller
      or
      the Company in connection with (a) the execution and delivery of this Agreement,
      the Embraer Contracts, the Seller Documents or the Restated Operating Agreement,
      or (b) the consummation and performance by Seller and the Company of the
      transactions contemplated hereby or thereby. 

    

    3.5 Title;
      Liens.
      Prior
      to and at the Closing and the due execution of the Restated Operating Agreement,
      Seller had and will have good and marketable title to the entire membership
      interest in Company, free and clear of all Liens and Restrictions. As of the
      Closing, Purchaser will acquire good and marketable title to the Class A
      Interest, free and clear of any and all Liens and Restrictions. The Company
      has
      good and valid title to all of its property and assets, free and clear of all
      Liens, and none of the Company property or assets are owned by or shared with
      any other Person. 

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

    

    3.6 Capitalization.
      At all
      times prior to the Closing and the due execution of the Restated Operating
      Agreement, Seller was the sole member of the Company and thus the sole record
      and beneficial owner of the entire membership interest of the Company. As of
      the
      Closing and following the due execution of the Restated Operating Agreement
      (a)
      Purchaser will become the sole Class A member of the Company and thus the sole
      record and beneficial owner of the entire Class A Interest, and (b) Seller
      will
      become the sole Class B member of the Company and thus the sole record and
      beneficial owner of the entire Class B Interest. As of the Closing and following
      the due execution of the Restated Operating Agreement, the only authorized
      and
      issued membership interests in the Company are the Class A Interest and the
      Class B Interest, and all of the issued and outstanding membership interests
      of
      the Company have been validly issued, fully paid and nonassessable. There are
      no
      other securities of the Company of any kind authorized, issued or outstanding,
      and, except as may be set forth in the Restated Operating Agreement, there
      are
      no outstanding subscriptions, options, warrants, rights (including preemptive
      rights), rights of first refusal, calls, convertible securities or other
      agreements or commitments of any character relating to the issued or unissued
      membership interests, securities or equity interests of the Company. The Company
      has not granted or agreed to grant any registration rights regarding any of
      the
      membership interests, securities or equity interests of the Company to any
      Person. The Company does not hold or beneficially own any direct or indirect
      equity interests or other securities in any Person, or any subscriptions,
      options, warrants, rights, calls, convertible securities or other agreements
      or
      commitments regarding any such equity interests or other securities.

    

    3.7 Assets;
      Liabilities.
      The
      only property interests of, or assets owned by, the Company are the Embraer
      Contracts (including credit for any deposits made by Seller pursuant to such
      Embraer Contracts), any intellectual property rights associated with the
      Company’s name, and any cash held by the Company as a result of the capital
      contributions of its members. The only liabilities of the Company are the
      payment and/or performance obligations of the Company expressly set forth in
      the
      Embraer Contracts and in the Restated Operating Agreement. For purposes of
      clarity, the Company has not incurred any indebtedness for borrowed money,
      nor
      has Seller or Company taken any action or failed to take any action which has
      subjected the Company or will subject the Company to any foreign, federal,
      state
      or local tax liabilities (except for any contingent tax liabilities which may
      arise with respect to the purchase and delivery of the aircraft pursuant to
      the
      terms of the APA and LOA, and except for immaterial tax liabilities, if any,
      arising out of the formation of the Company).

    

    3.8 Embraer
      Contracts.
      

    

    (a)
       As
      of the
      Closing, and other than the Restated Operating Agreement, the only agreements
      or
      contracts to which the Company will be a party, or by which any of its property
      or assets may be bound or affected, will be the Embraer Contracts. 

    

    (b) Each
      Embraer Contract has been or will be assigned by Seller to the Company at or
      prior to the Closing pursuant to the Embraer Consent and the Assignment
      Document, and in connection therewith, each such Embraer Contract will become
      a
      valid, binding and enforceable obligation of the Company in accordance with
      its
      terms, except as enforceability may be affected by Laws relating to bankruptcy,
      reorganization, insolvency and creditors’ rights and by the availability of
      injunctive relief, specific performance and other equitable remedies.

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

       

    

    (c)
       The
      Embraer Consent and the Assignment Document will have the effect of assigning
      or
      having assigned in full all of Seller’s right, title and interest in, to and
      under each and every other Embraer Contract to the Company, and the Seller
      and
      the Company have the full power and authority to make, execute, deliver and
      perform the Embraer Consent and Assignment Document. The Embraer Consent and
      the
      Assignment Document each constitute a legal, valid and binding obligation of
      the
      Seller and the Company, enforceable against them in accordance with its terms,
      except to the extent that enforcement may be affected by Laws relating to
      bankruptcy, reorganization, insolvency and creditors’ rights and by the
      availability of injunctive relief, specific performance and other equitable
      remedies. 

    

    (c) With
      respect to each Embraer Contract, there exists no default or event of default
      or
      breach by the Seller or the Company or, to the knowledge of Seller, Embraer,
      or
      event, occurrence or condition that, with the giving of notice or the lapse
      of
      time, would give rise to a default or event of default by the Seller or the
      Company or, to the knowledge of Seller, Embraer. With respect to each such
      Embraer Contract, (i) the consummation of the transactions contemplated hereby
      will not result in a breach of or default under such Embraer Contract, or
      otherwise cause such Embraer Contract to cease to be legal, valid, binding,
      enforceable and in full force and effect; and (ii) neither the Company nor
      Seller has received notice of the intention of any party to such Embraer
      Contract to cancel, terminate or renegotiate such Embraer Contract, except
      as
      contemplated hereby. 

    

    (d) Seller
      has provided or made available to Purchaser a true and correct copy of each
      Embraer Contract, in each case together with all amendments, waivers or other
      changes thereto.

     

    3.9 Organizational
      Documents.
      True
      and complete copies of the Company’s Certificate of Formation and all amendments
      thereto, the current operating agreement of the Company as currently in force,
      all material membership interest records, and the corporate minute books of
      the
      Company have been made available to Purchaser.

    

    3.10 Compliance
      with Laws (Company).
      The
      Company possesses and is in compliance with all permits or licenses required
      by
      Law in connection with the operation of its business or the ownership, use
      or
      operation of its property and assets. The Company has conducted and currently
      conducts its business and the ownership, use and operation of its property
      and
      assets in compliance with all Laws. No
      notice,
      citation, summons or order has been issued, no complaint has been filed, no
      penalty has been assessed and no investigation, review, charge or proceeding
      is
      pending or threatened, nor does there exist any basis for any of the foregoing,
      with respect to any actual or alleged violation of any applicable Law by the
      Company or otherwise related to the ownership, use or operation of the Company’s
      property or assets or the consummation of the transactions contemplated hereby.
      

    

    3.11 Compliance
      with Laws (Seller). Seller
      possesses and is in compliance with all permits or licenses required by Law
      in
      connection with the operation of its business or the ownership, use or operation
      of its property and assets, the noncompliance with which would have a material
      adverse effect upon Seller. Seller has conducted and currently conducts its
      business and the ownership, use and operation of its property and assets in
      compliance with all Laws, the noncompliance with which would have a material
      adverse effect upon Seller. No notice, citation, summons or order has been
      issued, no complaint has been filed, no penalty has been assessed and no
      investigation, review, charge or proceeding is pending or, to the knowledge
      of
      Seller, threatened, nor to the knowledge of Seller, does there exist any basis
      for any of the foregoing, with respect to any actual or alleged violation of
      any
      applicable Law by Seller, in each case which would be reasonably expected to
      have a material adverse effect upon Seller or the consummation by Seller of
      the
      transactions contemplated hereby

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

       

    

    3.12 Litigation
      and Claims.
      There
      is no action, suit, grievance, claim, investigation, litigation or proceeding
      pending or threatened by any Person relating to the Company, its business,
      any
      of its property or assets, or otherwise related to the ability of Seller or
      the
      Company to consummate the transactions contemplated hereby, nor is there any
      basis for any of the foregoing. There are no outstanding judgments, decrees,
      awards or orders against the Company, its business, any of its property or
      assets or otherwise related to the ability of Seller or the Company to
      consummate the transactions contemplated hereby. There is no action, suit,
      grievance, claim, investigation, litigation or proceeding pending or, to the
      knowledge of Seller, threatened by any Person relating to the Seller, its
      business, any of its property or assets, which will adversely affect or
      interfere with the ability of Seller to consummate the transactions contemplated
      hereby, nor is there any basis for any of the foregoing. There are no
      outstanding judgments, decrees, awards or orders against Seller, its business,
      or any of its property or assets which relates to Seller’s ability to consummate
      the transactions contemplated hereby. 

    

    3.13 Employees;
      Benefit Plans.
      At no
      time prior to the Closing has the Company had any employees, nor has the Company
      participated in, sponsored or otherwise offered any benefits, benefit plans
      or
      benefit programs to any employees or other Persons. 

    

    3.14 No
      Implied Representations.
      Except
      as expressly set forth herein or in the Restated Operating Agreement, Seller
      makes no representations or warranties of any kind to Purchaser or the Company.
      

    

    3.15 Brokers
      or Finders.
      None of
      Seller, the Company or any of their affiliates have engaged or otherwise dealt
      with any broker, finder or other Person in connection with this Agreement or
      the
      transactions contemplated hereby that will result in or has resulted in
      Purchaser becoming liable for any commission, fee, or similar payment for
      arranging the transactions contemplated hereby or introducing the Parties to
      each other.

    

    3.16 Full
      Disclosure.
      No
      representation or warranty made by Seller or the Company in this Agreement,
      in
      any Seller Document or in the Restated Operating Agreement, and no written
      statement contained in any exhibit, certificate or schedule delivered by Seller
      or the Company to Purchaser at the Closing, contains any materially untrue
      statement of a material fact or omits to state a material fact necessary to
      make
      the statements contained herein and therein, in light of the circumstances
      in
      which they are made, not misleading. 

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

       

    

    ARTICLE
      IV

    REPRESENTATIONS
      AND 

    WARRANTIES
      OF PURCHASER

    

    Purchaser
      hereby represents and warrants to Seller as follows:

    

    4.1 Organization
      and Good Standing. Purchaser
      is a corporation duly organized, validly existing and in good standing under
      the
      laws of Kansas, and has all requisite power and authority to own, lease and
      operate its properties and assets as now owned, leased and operated and to
      carry
      on its business as and where presently conducted. Purchaser is qualified or
      licensed to do business and in good standing in each jurisdiction where
      required.

    

    4.2 Authorization
      and Enforceability.
      Purchaser has the full power and authority to make, execute, deliver and perform
      this Agreement, the Purchase Documents and the Restated Operating Agreement,
      and
      to consummate the transactions contemplated hereby and thereby. The execution,
      delivery and performance of this Agreement, the Purchase Documents and the
      Restated Operating Agreement, and the consummation of the transactions
      contemplated hereby and thereby, by Purchaser have been duly authorized, duly
      executed and delivered by Purchaser, and this Agreement, the Purchase Documents
      and the Restated Operating Agreement constitute legal, valid and binding
      obligations of Purchaser, enforceable against Purchaser in accordance with
      their
      terms, except to the extent that enforcement may be affected by Laws relating
      to
      bankruptcy, reorganization, insolvency and creditors’ rights and by the
      availability of injunctive relief, specific performance and other equitable
      remedies.

    

    4.3 No
      Violation. The
      execution, delivery and performance of this Agreement, the Purchase Documents
      and the Restated Operating Agreement do not, and the consummation of the
      transactions contemplated hereby and thereby will not, violate, conflict with
      or
      result in a default under (a) any of the organizational documents of Purchaser,
      (b) any resolution of the governing body or stockholders of Purchaser, (c)
      any
      right or interest in favor of any other Person, (d) any agreement, contract,
      instrument, commitment or understanding to which Purchaser is a party or by
      which any of its assets may be bound or affected, (e) any judgment, decree
      or
      order of any court, arbiter, or Governmental Authority, or (f) any applicable
      Law.

    

    4.4 Consents.
      Except
      for the Embraer Consent and the Assignment Document, no consent, approval or
      authorization of, registration or filing with, or notice to, any Person is
      required by Purchaser in connection with (a) the execution and delivery of
      this
      Agreement, the Purchase Documents or the Restated Operating Agreement, or (b)
      the consummation and performance by Purchaser of the transactions contemplated
      hereby or thereby. 

    

    4.5 Litigation
      and Claims.
      There
      is no action, suit, grievance, claim, investigation, litigation or proceeding
      pending or, to the knowledge of Purchaser, threatened by any Person relating
      to
      the Purchaser, its business, any of its property or assets, which will adversely
      affect or interfere with Purchaser’s ability to consummate of the transactions
      contemplated hereby, nor is there any basis for any of the foregoing. There
      are
      no outstanding judgments, decrees, awards or orders against Purchaser, its
      business, or any of its property or assets which relates to Purchaser’s ability
      to consummate the transactions contemplated hereby.

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

       

    

    4.6 Compliance
      with Laws.
      Purchaser possesses and is in compliance with all permits or licenses required
      by Law in connection with the operation of its business or the ownership, use
      or
      operation of its property and assets, the noncompliance with which would have
      a
      material adverse effect upon Purchaser. Purchaser has conducted and currently
      conducts its business and the ownership, use and operation of its property
      and
      assets in compliance with all Laws, the noncompliance with which would have
      a
      material adverse effect upon Purchaser. No notice, citation, summons or order
      has been issued, no complaint has been filed, no penalty has been assessed
      and
      no investigation, review, charge or proceeding is pending or, to the knowledge
      of Purchaser, threatened, nor to the knowledge of Purchaser, does there exist
      any basis for any of the foregoing, with respect to any actual or alleged
      violation of any applicable Law by Purchaser, in each case which would be
      reasonably expected to have a material adverse effect upon Purchaser or the
      consummation by Purchaser of the transactions contemplated hereby. 

    

    4.7 No
      Implied Representations.
      Except
      as expressly set forth herein or in the Restated Operating Agreement, Purchaser
      makes no representations or warranties of any kind to Seller or the Company.
      

    

    4.8 Brokers
      or Finders.
      None of
      Purchaser nor any of its affiliates have engaged or otherwise dealt with any
      broker, finder or other Person in connection with this Agreement or the
      transactions contemplated hereby that will result in or has resulted in Seller
      or the Company becoming liable for any commission, fee, or similar payment
      for
      arranging the transactions contemplated hereby or introducing the Parties to
      each other.

    

    4.9 Full
      Disclosure.
      No
      representation or warranty made by Purchaser in this Agreement, in any Purchaser
      Document or in the Restated Operating Agreement, and no written statement
      contained in any exhibit, certificate or schedule delivered by Purchaser to
      Seller or the Company at the Closing, contains any materially untrue statement
      of a material fact or omits to state a material fact necessary to make the
      statements contained herein and therein, in light of the circumstances in which
      they are made, not misleading.

    

    ARTICLE
      V

    CERTAIN
      COVENANTS

    

    5.1 Confidentiality.
      Subject
      to the provisions of Section 5.2 below, Seller and Purchaser shall keep
      confidential and not use, and shall cause their affiliates to keep confidential
      and not use, any and all information disclosed to such Party in connection
      with
      the transactions contemplated hereby which relates to the other Party’s
      property, assets, financial condition or business, except as specifically,
      and
      only to the extent, required by applicable Law or administrative or legal
      process, or
      to the
      extent such information has become publicly available;
      it
      being understood that each Party will notify the other Party in writing at
      least
      five business days (to the extent possible) prior to any proposed disclosure
      of
      such information in order to enable such other Party to seek an appropriate
      protective order.

     

    5.2 Press
      Release; Securities and Exchange Commission Filings.
      The
      Parties shall mutually agree upon any press release or other publicity
      concerning this Agreement or the transactions contemplated hereby; provided
      that
      the foregoing shall not prohibit Seller from making any required disclosure
      to
      or filing with the Securities and Exchange Commission. In the event that Embraer
      terminates the Purchase Documents solely due to the failure by Seller to comply
      with its obligations in Section 11 of the Assignment Document, the Purchase
      Price shall be reimbursed to Purchaser. In the event that Embraer terminates
      the
      Purchase Documents solely due to the failure by Purchaser to comply with its
      obligations in Section 11 of the Assignment Document, the Purchase Price paid
      to
      Seller shall be forfeited by Purchaser. This
      provision shall survive closing and execution and delivery of the Restated
      Operating Agreement.

    

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

       

    

    5.3 Further
      Assurances.
      The
      Parties shall execute such further documents and perform such further acts
      as
      may be necessary to fully comply with the terms of this Agreement and to
      consummate the transactions contemplated hereby.

    

    ARTICLE
      VI

    CONDUCT
      PRIOR TO CLOSING

    

    6.1 General.
      The
      Parties have the rights and obligations with respect to the period between
      the
      date hereof and the Closing set forth below in this ARTICLE VI.

    

    6.2 Seller
      and Company Obligations.
      Except
      as otherwise expressly provided herein, Seller and Company shall (a) give to
      Purchaser all information regarding the Company or, as it relates to the Embraer
      Contracts and the transactions contemplated by this Agreement, the Seller,
      as
      Purchaser may reasonably request, (b) cause the Company to not carry on any
      business, acquire any assets or incur any liabilities, except for the Embraer
      Contracts as contemplated herein (c) obtain all consents, assignments,
      authorizations and approvals necessary for Seller and the Company to consummate
      in full the transactions contemplated by this Agreement, (d) cause the Company
      to not amend its organizational documents or make any change in its authorized
      or issued membership interests; and (e) cause the Company to not sell, transfer
      or otherwise dispose of any property. Furthermore, neither Seller nor the
      Company shall take or omit to take any action that would cause any of the
      representations or warranties of Seller and/or the Company set forth herein
      to
      be inaccurate. 

    

    6.3 Purchaser’s
      Obligations.
      Purchaser (a) shall obtain all consents, assignments, authorizations and
      approvals necessary for Purchaser to consummate in full the transactions
      contemplated by this Agreement, and (b) shall not take or omit to take any
      action that would cause any of the representations or warranties of Purchaser
      set forth herein to be inaccurate.

    

    6.4 Joint
      Obligations.

    

    (a) Each
      of
      the Parties shall use all commercially reasonable efforts to take, or cause
      to
      be taken, all actions and to do, or cause to be done, all things necessary,
      proper or advisable to consummate the transactions contemplated hereby as soon
      as practicable; and 

    

    (b) Upon
      knowledge, each Party shall promptly give the other Parties written notice
      of
      the existence or occurrence of any condition (i) which would make any
      representation or warranty set forth herein of such Party untrue, or (ii) which
      might reasonably be expected to prevent the timely consummation of the
      transactions contemplated hereby.

    

    
      
        
        

      

      
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    ARTICLE
      VII

    CONDITIONS
      TO CLOSING

    

    7.1 Conditions
      to the Obligations of Seller and the Company.
      The
      obligations of Seller and the Company to close the transactions contemplated
      hereby are subject to the fulfillment of all of the following conditions as
      of
      the Closing:

    

    (a) The
      representations and warranties of Purchaser in this Agreement shall be true
      and
      correct in all material respects as if originally made on and as of the Closing;
      

    

    (b) All
      material obligations of Purchaser to be performed hereunder (including those
      set
      forth in Section 2.5(b)) through, and including as part of, the Closing shall
      have been performed and complied with; and 

    

    (c) Purchaser
      shall have obtained all of the material consents, assignments, authorizations
      and approvals necessary for Purchaser to consummate in full the transactions
      contemplated by this Agreement, each of which shall be in form and substance
      acceptable to Seller.

    

    7.2
       Conditions
      to the Obligations of Purchaser.
      The
      obligation of Purchaser to close the transactions contemplated hereby is subject
      to the fulfillment of all of the following conditions as of the
      Closing:

    

    (a) The
      representations and warranties of Seller and/or the Company in this Agreement
      shall be true and correct in all material respects as if originally made on
      and
      as of the Closing; 

    

    (b) All
      material obligations of Seller and the Company to be performed hereunder
      (including those set forth in Section 2.5(a)) through, and including as part
      of,
      the Closing shall have been performed and complied with; and 

    

    (c) Seller
      and the Company shall have obtained all of the material consents, assignments,
      authorizations and approvals (including the Embraer Consent and the Assignment
      Document) necessary for Seller to consummate in full the transactions
      contemplated by this Agreement, each of which shall be in form and substance
      acceptable to Purchaser.

    

    ARTICLE
      VIII

    INDEMNIFICATION

    

    8.1 Indemnification.
      The
      Parties agree as follows:

    

    (a) Seller
      and Company shall, jointly and severally, indemnify, defend, protect and hold
      harmless Purchaser and its shareholders, directors, officers and affiliates
      from
      and against any and all Damages arising out of, resulting from or related to
      (i) any misrepresentation or any breach, violation or non-compliance with
      respect to any representation, warranty, covenant, agreement or obligation
      of
      Seller or the Company in this Agreement, in the Restated Operating Agreement
      or
      in any Seller Document; (ii) any liability or obligation of Seller, and (iii)
      except as expressly assumed by Purchaser pursuant to the terms and conditions
      of
      this Agreement or the Restated Operating Agreement, any liability or obligation
      of the Company arising prior to the Closing (including any liability related
      to
      the ownership, use or operation of the business, property or assets of the
      Company); provided,
      however,
      in each
      case, no property of the Company allocated to, constituting all or a portion
      of,
      or otherwise related or attributable to, Purchaser’s membership interest in the
      Company under the Restated Operating Agreement or otherwise shall be used in
      any
      way to satisfy the indemnification obligations of Seller and/or the Company
      under this Section 8.1(a). By way of example, and not by way of limitation,
      Seller shall have no right to contribution from the Company under this Section
      8.1(a) or otherwise out of the property allocated to Purchaser’s membership
      interest under the Restated Operating Agreement. 

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

       

    

    (b) Purchaser
      shall indemnify, defend, protect and hold harmless Seller and its stockholders,
      directors, officers and other affiliates from and against any and all Damages
      arising out of, resulting from or related to (i) any misrepresentation or
      any breach, violation or non-compliance with respect to any representation,
      warranty, covenant, agreement or obligation of Purchaser in this Agreement
      or in
      any Purchaser Document; (ii) any liability or obligation of Purchaser, and
      (iii)
      except as expressly retained or assumed by
      Seller
      pursuant to the terms and conditions of this Agreement or the Restated Operating
      Agreement, any liability or obligation of the Company arising subsequent to
      the
      Closing (including any liability related to the ownership, use or operation
      of
      the business, property or assets of the Company); provided,
      however,
      in each
      case, no property of the Company allocated to, constituting all or a portion
      of,
      or otherwise related or attributable to, Seller’s membership interest in the
      Company under the Restated Operating Agreement or otherwise shall be used in
      any
      way to satisfy the indemnification obligations of Purchaser under this Section
      8.1(b). By way of example, and not by way of limitation, Purchaser shall have
      no
      right to contribution from the Company under this Section 8.1(b) or otherwise
      out of the property allocated to Seller’s membership interest under the Restated
      Operating Agreement. 

    

    (c) For
      purposes of this Agreement, “Damages”
shall
      mean any and all losses, liabilities, damages, governmental penalties,
      obligations, awards, fines, deficiencies, and interest, and any actions,
      demands, claims, proceedings, judgments, costs, expenses, fees and costs and
      expenses to mitigate or otherwise reduce or eliminate any loss or expense
      (including reasonable attorneys’ fees, court costs and all other reasonable
      expenses incurred in investigating, preparing or defending any litigation or
      proceeding, commenced or threatened) resulting from, arising out of or incident
      to (i) any of the foregoing indemnifiable items in Sections 8.1(a) and 8.1(b),
      or (ii) incident to the enforcement of this Agreement.

    

    ARTICLE
      IX

    TERMINATION

    

    9.1 Right
      to Terminate.
      Anything
      to the contrary herein notwithstanding, this Agreement and the transactions
      contemplated hereby may be terminated prior to the Closing:

    

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

       

    

    (a)
       by
      the
      mutual written consent of Seller and Purchaser; or 

    

    (b) by
      prompt
      notice given in accordance with Section 10.1, by either Purchaser or Seller,
      if
      the Closing shall not have occurred by 11:59 p.m. on June 20, 2008; provided,
      however, the right to terminate this Agreement under this Section 9.1 (b) shall
      not be available to any Party whose failure to fulfill any of its obligations
      under this Agreement has been the cause of or resulted in the failure of the
      Closing to occur.

    

    Upon
      any
      such termination, the Deposit shall be returned to Purchaser by the Escrow
      Agent, and Seller shall, within two (2) business days, pay and reimburse
      Purchaser the Aircraft Advance Deposit, unless such failure of the Closing
      to
      occur by June 20, 2008 is due to the failure of Purchaser to fulfill its
      obligations under this Agreement. For clarification, should any of the
      conditions to Purchaser’s obligations as set forth in Section 7.2 not be
      satisfied on or prior to June 20, 2008, then this Agreement and the transactions
      contemplated hereby may be terminated by Purchaser, in which event the Deposit
      shall be returned to Purchaser by the Escrow Agent, and Seller shall, within
      two
      (2) business days, pay and reimburse Purchaser the Aircraft Advance Deposit.
      In
      the event that Purchaser is required to take legal action to obtain return
      of
      the Deposit and/or reimbursement of the Aircraft Advance Deposit, then in
      addition to all other rights and remedies, Purchaser may recover from Seller
      and
      Company and Seller and Company shall jointly and severally pay Purchaser all
      reasonable attorney fees, court costs and other costs of collection incurred
      in
      obtaining return of the Deposit and reimbursement from Seller of the Aircraft
      Advance Deposit, plus interest on the outstanding unpaid balance at the rate
      of
      one and one-half percent (11⁄2%) per month. 

    

    ARTICLE
      X

    MISCELLANEOUS

    

    10.1 Notices.
      Any
      notice given hereunder shall be in writing and deemed given (a) immediately
      upon
      being personally delivered or transmitted by facsimile, telecopy or other
      electronic transmission (if a written copy is also sent no later than the next
      business day otherwise in accordance with this Section 10.1), (b) three days
      after being deposited in the United States mail, postage prepaid, sent certified
      or registered with return receipt requested, or (c) by Federal Express, UPS
      or
      another nationally recognized overnight courier, and addressed as
      follows:

    

    If
      to
      Purchaser:

    Executive
      AirShare Corporation 

    Attn:
      Robert D. Taylor, Chairman and CEO

    150
      Richards Road, Suite 103

    Kansas
      City, MO 64116-4270

    Fax:
      (816) 221-7270

    E-mail:
      btaylor@execairshare.com

    

    With
      a
      copy to:

    

    Robert
      D.
      Taylor

    3040
      W.
      68 

    Mission
      Hills, KS 66208

    

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

       

    

    And
      a
      copy to:

    

    David
      C.
      Agee, Esq.

    Husch
      Blackwell Sanders LLP

    901
      St.
      Louis, Ste. 1900

    Springfield
      MO 65806

    Fax:
      (417) 268-4090

    Tel:
      (417) 268-4066

    E-mail:
      david.agee@huschblackwell.com

    

    If
      to
      Seller: 

    Avantair,
      Inc. 

    Attn:
      Tom
      F. Palmiero

    4311
      General Howard Drive

    Clearwater,
      FL 33762

    Fax:727-418-8628

    E-mail:tpalmiero@avantair.com

    

    10.2 Other.
      Any Schedules and Exhibits referred to in and attached to this Agreement are
      incorporated herein by reference. No Party may assign this Agreement without
      the
      consent of the other Parties. This Agreement shall be governed by and construed
      and enforced in accordance with the internal laws of the State of Delaware
      (without reference to any conflict of law provisions). This
      Agreement,
      together with the exhibits, schedules and other agreements, certificates and
      documents referenced herein or to be delivered in connection herewith,
      constitute the entire understanding of the Parties hereto, and supersedes any
      prior agreements or understandings, written or oral, between the Parties with
      respect to the subject matter hereof. This
      Agreement
      may not
      be amended except pursuant to a writing signed by all Parties. The failure
      of
      either party to enforce at any time any provision of this Agreement shall not
      be
      construed to be a waiver of such provision or of any other provision. The
      Parties shall be entitled to an injunction to prevent a breach of this Agreement
      and to enforce specifically the terms and provisions of this Agreement, this
      being in addition to any other remedy to which any such Party may be entitled
      to
      at law or in equity. In the event any provision of this Agreement is held
      invalid, illegal or unenforceable, in whole or in part, the remaining provisions
      of this Agreement shall not be affected thereby and shall continue to be valid
      and enforceable, and, if, for any reason, a court or other applicable arbiter
      finds that any provision of this Agreement is invalid, illegal or unenforceable
      as written, but that by limiting such provision it would become valid, legal
      and
      enforceable, then such provision shall be deemed to be written, and shall be
      construed and enforced, as so limited.
      This
      Agreement may be executed in one or more counterparts, each of which shall
      be
      deemed an original, but which together shall constitute one and the same
      instrument. 

    

    [Signature
      Page Following]

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Parties hereto have caused this Membership Interest
      Purchase Agreement to be executed effective as of the date first written
      above.

    
      	 	 
	 	 
	 	
              EXECUTIVE
                AIRSHARE CORPORATION

            
	 	 
	 	 	 	 
	 	
              By:

            	 	
              /s/
                Robert D. Taylor

            
	 	
              Name:

            	 	
              Robert
                D. Taylor

            
	 	
              Title:

            	 	
              Chairman
                and Chief Executive Officer

            
	 	 
	 	
              AVANTAIR,
                INC.

            
	 	 
	 	 	 	 
	 	
              By:

            	 	
              /s/
                Steven F. Santo

            
	 	
              Name:

            	 	
              Steven
                F. Santo

            
	 	
              Title:

            	 	
              Chief
                Executive Officer

            
	 	 	 	 
	 	
              SHARE
                100 HOLDING CO., LLC 

            
	 	 
	 	 	 	 
	 	
              By:

            	 	
              /s/
                Robert D. Taylor

            
	 	
              Name:

            	 	
              Robert
                D. Taylor

            
	 	
              Title:

            	 	
              Chairman
                and Chief Executive Officer of Managing Member, Executive AirShare
                Corporation

            

    

     

    
      
        
        

      

      
        17

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