Document:

Unassociated Document

    
      

    

    EXTENSION
      AGREEMENT

     

    THIS
      AGREEMENT is made and entered into as of September 30, 2006 (this “Agreement”)
      by and among Sentinel Technologies, Inc., a Delaware corporation (“STI”);
      Sentinel Operating, L.P., a Texas limited partnership and an affiliate of STI
      (“Sentinel”); Tidel Technologies, Inc., a Delaware corporation (“Tidel”); and
      Laurus Master Fund, Ltd., a Cayman Islands company (“Laurus”). 

     

    1.  The
      parties hereto agree that the Exercise and Conversion Agreement, dated as of
      January 12, 2006, as amended from time to time, by and among STI, Sentinel,
      Tidel and Laurus be and is hereby amended by deleting the two references to
      “September 30, 2006” in Section 5.1 therein and inserting in lieu thereof the
      date “October 2, 2006.

     

    2.  Tidel
      and
      Laurus agree that the Stock Redemption Agreement, dated as of January 12, 2006
      (as amended from time to time, the “Redemption Agreement”), by and between Tidel
      Technologies and Laurus is hereby amended by deleting the date September 30,
      2006 in Section 4, Section 9(a) and Section 9(b) thereof in the ultimate
      sentence therein and substituting in lieu thereof the date “October 2, 2006” in
      each such section.

     

    3.  Laurus
      acknowledges the receipt from Tidel of the notice setting forth the Per Share
      Price (as defined in the Redemption Agreement) required to be delivered to
      Laurus pursuant to Section 2(c) of the Redemption Agreement and confirms that
      Tidel has complied with such Section 2(c) in all respects.

     

    This
      Agreement shall be governed by and construed and interpreted in accordance
      with
      the choice of law provisions set forth in, and shall be subject to the notice
      provisions of, the Redemption Agreement.

     

    This
      Agreement may be executed by facsimile signatures and in any number of
      counterparts, each of which shall be an original, but all of which together
      shall constitute one Agreement.

     

    [Remainder
      of page intentionally left blank]

     

    
      
        
        

      

      
         

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, STI, Sentinel, Tidel and Laurus have caused this Agreement
      to
      be executed as of the date first written above.

     

    
      	 	
              SENTINEL
                TECHNOLOGIES, INC.

            
	 	 
	 	
              /s/
                Raymond P. Landry

            
	 	
              By:
                Raymond P. Landry

            
	 	
              Title:
                Chief Executive Officer

            
	 	 
	 	 
	 	
              SENTINEL
                OPERATING, L.P.

            
	 	 
	 	 	
              By:

            	
              Sentinel
                Cash Systems, L.L.C., its
                general partner

            
	 	 	 
	 	 	 	
              /s/
                Raymond P. Landry

            
	 	 	 	
              By:
                Raymond P. Landry

            
	 	 	 	
              Title:
                President

            
	 	 
	 	 
	 	
              TIDEL
                TECHNOLOGIES, INC.

            
	 	 
	 	
              /s/
                Leonard L. Carr

            
	 	
              By:
                Leonard L. Carr

            
	 	
              Title:
                Secretary

            
	 	 
	 	 
	 	
              LAURUS
                MASTER FUND, LTD.

            
	 	 
	 	
              /s/
                Eugene Grin

            
	 	
              By:
                Eugene Grin

            
	 	
              Title:
                Director

            

    

     

     

    2AMENDMENT
      NO. 2 TO ASSET PURCHASE AGREEMENT 

    

    THIS
      AMENDMENT NO. 2 TO ASSET PURCHASE AGREEMENT,
      dated
      as of the 3rd day of October, 2006 (the “Amendment”)
      by the
      below executing parties, hereby amends the Asset Purchase Agreement (as amended
      from time to time, the “Agreement”)
      dated
      as of July 14, 2006, entered into by and among Tactical Air Defense Services,
      Inc. (“Parent”),
      Genesis Aviation Acquisition Inc., Resource Financial Aviation Holdings Inc.,
      and OneSource Aviation Acquisition Inc. each a Nevada corporation and wholly
      owned subsidiary of Parent (each a “Subsidiary”,
      the
      Subsidiaries and Parent are each sometimes referred to herein as a “Purchaser”)
      as
      Purchasers and AeroGroup Incorporated, a Utah corporation (“AeroGroup”)
      and
      its wholly owned subsidiaries, Genesis Acquisition, Inc., Resource Financial
      Holdings Acquisition, Inc., and OneSource Acquisition, Inc., each a Delaware
      corporation, as sellers (each individually a “Seller
      Subsidiary”, the
      Seller Subsidiaries and AeroGroup each being sometimes referred to herein as
      a
“Seller”),
      which
      Agreement was amended by the parties on August 22, 2005 (“Amendment
      No. 1”).
      All
      capitalized terms not otherwise defined herein shall have the meanings set
      forth
      in the Agreement. 

    

    WHEREAS,
      the
      parties originally agreed to consummate the transaction within 75 days of the
      date of the Agreement, and further conditioned upon, among other things,
      completion of the consolidated audited financial statements and appointment
      of
      the Interim Management to the board and as officers of Parent and obtaining
      several government Permits as set forth in Section 4(e) of the Agreement;
      and

    

    WHEREAS,
      the
      parties have completed due diligence, have appointed the Interim Management,
      have obtained two of the three necessary government permits as required under
      the Agreement, and wish to extend the Termination Date of the Agreement to
      November 15, 2006, so that the remaining conditions to Closing of the parties
      can be satisfied; 

    

    NOW
      THEREFORE,
      it is
      agreed: 

    

    1. Section
      3
      of the Agreement is hereby amended to be and read as follows: 

    

    “3. Closing.

    

    The
      closing of the transactions contemplated herein (the “Closing”)
      shall
      be held at the offices of Hodgson Russ LLP, 60 East 42nd Street, 37th Floor,
      New
      York, New York 10165, at 10:00 a.m. (local time) on the earlier of the fifth
      business day after the satisfaction or waiver of the conditions set forth in
      Sections 7 and 8 hereof, or on such other date as may be agreed upon by the
      parties (the date on which the Closing actually takes place shall be referred
      to
      as the “Closing
      Date”);
      provided, that if the Closing shall not have occurred prior to November 15,
      2006
      (the “Termination
      Date”),
      either party shall be entitled to terminate this Agreement without any liability
      whatsoever to any party. However, in the event a party shall have caused a
      delay
      in closing the transaction contemplated hereby by its failure to perform any
      covenant hereunder, such party shall not be entitled to terminate this Agreement
      as provided herein until the expiration of a period following such date
      corresponding to the period of the delay so caused. The Closing shall be deemed
      effective as of the opening of business on the Closing Date. The Termination
      Date may only be extended by consent of AeroGroup and Parent. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2. The
      Agreement is and shall remain and continue in full force and effect in all
      other
      respects, without prejudice. 

    

    3. This
      Amendment may be signed in one or more counterparts. 

    

    [Signature
      Pages Follow]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    COUNTERPART
      SIGNATURE PAGE TO AMENDMENT TO ASSET PURCHASE AGREEMENT, DATED AS OF OCTOBER
      3,
      2006

     

    IN
      WITNESS WHEREOF,
      the
      parties hereto, intending to be bound hereby, have caused this Amendment to
      Asset Purchase Agreement to be executed the day and year first above
      written.

     

    
      	 	 	 
	 	SELLERS:
	 	 
	 	AEROGROUP
              INCORPORATED
	 
 	 
 	 
 
	 	By:  	/s/ Mark T. Daniels
	 	
              
Name: Mark
              T. Daniels
	 	Title: President

    

     

    
      
        	 	 	 
	 	GENESIS
                ACQUISITION, INC.
	 	 
	 
 	 
 	 
 
	 	By:  	/s/ Mark T. Daniels
	 	
                
Name: Mark
                T. Daniels
	 	Title: President

      

      
         

        
          
            	 	 	 
	 	RESOURCE
                    FINANCIAL HOLDINGS ACQUISITION, INC.
	 	 
	 
 	 
 	 
 
	 	By:  	/s/ Mark T. Daniels
	 	
                    
Name: Mark
                    T. Daniels
	 	Title: President

          

          
            
               

              
                
                  	 	 	 
	 	ONESOURCE
                          ACQUISITION, INC.
	 	 
	 
 	 
 	 
 
	 	By:  	/s/ Mark T. Daniels
	 	
                          
Name: Mark
                          T. Daniels
	 	Title: President

                

                 

              

            

            

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

          

        

      

    

    COUNTERPART
      SIGNATURE PAGE TO AMENDMENT TO ASSET PURCHASE AGREEMENT, DATED AS OF OCTOBER
      3,
      2006.

     

    IN
      WITNESS WHEREOF,
      the
      parties hereto, intending to be bound hereby, have caused this Amendment to
      Asset Purchase Agreement to be executed the day and year first above
      written.

     

    
      	 	 	 
	 	PURCHASERS:
	 	 
	 	TACTICAL AIR DEFENSE SERVICES,
              INC.
              
	 
 	 
 	 
 
	 	By:  	/s/ John Riley Farley
	 	
              
Name: John
              Riley Farley
	 	Title: Vice
              President, Chief Financial Officer

    

     

    
      
        	 	 	 
	 	GENESIS
                AVIATION ACQUISITION INC.
	 	 
	 
 	 
 	 
 
	 	By:  	/s/ John Riley Farley
	 	
                
Name: John
                Riley Farley
	 	Title: Vice
                President, Chief Financial Officer

      

       

      
        
          
            	 	 	 
	 	RESOURCE
                    FINANCIAL AVIATION HOLDINGS  INC.
	 	 
	 
 	 
 	 

	 	By:  	/s/ John Riley Farley
	 	
                    
Name: John
                    Riley Farley
	 	Title: Vice
                    President, Chief Financial Officer

          

           

          
            
              
                
                  	 	 	 
	 	ONESOURCE
                          AVIATION ACQUISITION INC. 
	 	 
	 
 	 
 	 

	 	By:  	/s/ John Riley Farley
	 	
                          
Name: John
                          Riley Farley
	 	Title: Vice
                          President, Chief Financial Officer

                

                 

              

            

        

      

    

    
      	 	 	 
	 	Consented
              and
              agreed to on behalf of the foregoing entities:
	 	 	 
	 	       
               	
              /s/
                Derick Sinclair

            
	 	
              
                

              
                                              Derick
              Sinclair

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