Document:

Share Purchase Agreement

 Exhibit 10.42 
 SHARE PURCHASE AGREEMENT 
 dated as of January 25, 2007 
 by and between 
 AJG CAPITAL, INC.

 (“Transferor”) 
 AVIACARGO 27125/27347, LLC 
 and 
 ERSTE FINANCE MALTA LIMITED 
 (each, a “Transferee”) 
 Relating to Shares in respect of 
 Aviacargo Leasing Limited 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	Page
	Section 1.	  	Definitions	  	1
			
	1.1	  	Definitions.	  	1
			
	1.2	  	Construction of Certain Terms and Phrases	  	6
			
	Section 2.	  	Sale of Shares and Closing	  	6
			
	2.1	  	Sale and Purchase	  	6
			
	2.2	  	Closing	  	6
			
	2.3	  	Further Assurances; Post-Closing Cooperation	  	6
			
	Section 3.	  	Purchase Amount	  	7
			
	Section 4.	  	Conditions Precedent	  	7
			
	4.1	  	Conditions Precedent to the Purchase	  	7
				
		  	4.1.1	  	Agreements	  	7
				
		  	4.1.2	  	[Reserved]	  	7
				
		  	4.1.3	  	Representations and Warranties True	  	7
				
		  	4.1.4	  	Inspection	  	8
				
		  	4.1.5	  	No Event of Default	  	8
				
		  	4.1.6	  	Insurance	  	8
				
		  	4.1.7	  	Evidence of Authority	  	8
				
		  	4.1.8	  	Opinions of Counsel	  	8
				
		  	4.1.9	  	No Proceedings	  	8
				
		  	4.1.10	  	Illegality	  	9
				
		  	4.1.11	  	Performance	  	9
				
		  	4.1.12	  	Compliance with Relevant Documents	  	9
				
		  	4.1.13	  	Existing Financing	  	9

  

 i 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	 	  	Page
		  	4.1.14	  	Review of Relevant Documents	  	9
				
		  	4.1.15	  	Officers’ Certificates	  	9
				
		  	4.1.16	  	Third Party Consents	  	9
				
		  	4.1.17	  	Other Documents	  	10
			
	4.2	  	Conditions Precedent to the Sale	  	10
				
		  	4.2.1	  	Purchase Amount	  	10
				
		  	4.2.2	  	Representations and Warranties	  	10
				
		  	4.2.3	  	Evidence of Authority	  	10
				
		  	4.2.4	  	Compliance with Transfer Requirements	  	10
				
		  	4.2.5	  	Illegality	  	10
				
		  	4.2.6	  	No Proceedings	  	10
			
	Section 5.	  	Representations and Warranties	  	10
			
	5.1	  	Representations and Warranties of Transferor	  	10
				
		  	5.1.1	  	Organization, Power, Etc	  	10
				
		  	5.1.2	  	Authorization and Binding Effect	  	11
				
		  	5.1.3	  	Litigation	  	11
				
		  	5.1.4	  	No Consent; No Violation	  	11
				
		  	5.1.5	  	Lessee Disputes	  	11
				
		  	5.1.6	  	Title	  	11
				
		  	5.1.7	  	Transaction	  	12
				
		  	5.1.8	  	Termination Event	  	12
				
		  	5.1.9	  	Total Loss	  	12

  

 ii 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	 	  	Page
	 	  	5.1.10	  	Relevant Documents	  	12
				
		  	5.1.11	  	Prepaid Rent	  	12
				
		  	5.1.12	  	Company Fees	  	12
				
		  	5.1.13	  	Financial Statements	  	12
				
		  	5.1.14	  	Absence of Changes	  	13
				
		  	5.1.15	  	No Undisclosed Liabilities	  	13
				
		  	5.1.16	  	Licenses	  	13
				
		  	5.1.17	  	Employees	  	13
				
		  	5.1.18	  	Bank and Brokerage Accounts; Investment Assets	  	13
				
		  	5.1.19	  	No Powers of Attorney	  	13
				
		  	5.1.20	  	Lease Chattel Paper	  	14
				
		  	5.1.21	  	Subordinated Loan	  	14
				
		  	5.1.22	  	Disclosure	  	14
			
	5.2	  	Taxes.	  	14
			
	5.3	  	Representations and Warranties of Transferees	  	18
				
		  	5.3.1	  	Organization, Power, Etc.	  	18
				
		  	5.3.2	  	Authorization and Binding Effect	  	18
				
		  	5.3.3	  	Litigation	  	19
				
		  	5.3.4	  	No Consent; No Violation	  	19
				
		  	5.3.5	  	Compliance	  	19
			
	Section 6.	  	Further Representations, Warranties and Covenants	  	19
			
	6.1	  	Books and Records	  	19

  

 iii 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	Page
	Section 7.	  	Taxes	  	19
			
	Section 8.	  	[RESERVED]	  	20
			
	Section 9.	  	Certain Reserved Rights.	  	20
			
	Section 10.	  	Indemnities	  	20
			
	10.1	  	Transferor’s Indemnity	  	20
			
	10.2	  	Transferee’s Indemnity	  	21
			
	10.3	  	Tax Treatment of Indemnities	  	21
			
	10.4	  	Notice of Claims; Determination.	  	21
			
		  	10.4.1	  	21
			
		  	10.4.2	  	22
			
	10.5	  	Third Person Claims.	  	22
			
		  	10.5.1	  	22
			
		  	10.5.2	  	22
			
	10.6	  	Limitations.	  	23
				
		  	10.6.1	  	Mitigation	  	23
				
		  	10.6.2	  	Subrogation	  	23
			
	Section 11.	  	Tax Matters	  	23
			
	11.1	  	Tax Filings.	  	23
			
	11.2	  	Tax Cooperation	  	24
			
	Section 12.	  	Total Loss.	  	25
			
	Section 13.	  	Notices.	  	25
			
	Section 14.	  	Miscellaneous.	  	25

  

 iv 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	14.1          	  	Binding Effect	  	25
			
	14.2	  	Transaction Costs and Expenses	  	25
			
	14.3	  	Entire Agreement	  	25
			
	14.4	  	Amendments	  	25
			
	14.5	  	Assignment	  	25
			
	14.6	  	Headings and References	  	25
			
	14.7	  	Counterparts	  	26
			
	14.8	  	Non-Waiver	  	26
			
	14.9	  	Survival	  	26
			
	14.10	  	Invalid Provisions	  	26
			
	14.11	  	Currency	  	26
			
	14.12	  	Brokers	  	26
			
	14.13	  	Governing Law	  	26
			
	14.14	  	Consent to Jurisdiction	  	27

  

	
	Schedules
	Schedule 1      Notices
	Schedule 5.1.10
	Schedule 5.1.13
	Schedule 5.1.15
	Schedule 5.1.16
	Schedule 5.1.19
	
	Exhibits
	Exhibit A        Form of Lessee Consent

  

 v 

 SHARE PURCHASE AGREEMENT 
 SHARE PURCHASE AGREEMENT, dated as of January 25, 2007 (as from time to time amended, modified or supplemented, this “Agreement”),
by and between AJG CAPITAL, INC., an Illinois corporation (“Transferor”), AVIACARGO 27125/27347, LLC, a Delaware limited liability company (“Automatic”), and ERSTE FINANCE MALTA LIMITED, a Maltese limited liability
company (“EFM”) (each of Automatic and EFM, a “Transferee”, and, collectively, the “Transferees”). 
 RECITALS: 
 WHEREAS, Transferor owns two ordinary shares, with par value 1 euro per share, of
Aviacargo Leasing Limited, an Irish company limited by shares (the “Company”), constituting all issued and outstanding shares of capital stock of the Company (each such individual share, a “Share”, and,
collectively, the “Shares”); 
 WHEREAS, Transferor desires to sell to each Transferee, and each Transferee desires to
purchase from Transferor, one Share on the terms and subject to the conditions set forth in this Agreement; 
 NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 AGREEMENT: 
 Section 1.
Definitions 
 1.1 Definitions. 
 “Acceptance Certificate” in respect of each Aircraft, has the meaning set forth in the applicable Lease. 
 “Actions or Proceedings” means any action, suit, proceeding, arbitration or Governmental or Regulatory Authority investigation or audit. 
 “Administrative Agent” means Erste Bank der oesterreichischen Sparkassen AG, London Branch, solely in its capacity as administrative
agent. 
 “Aircraft” means either or both, as the context may require, of the Boeing 737-3H6F aircraft bearing
manufacturer’s serial number 27125, and the Boeing 737-3H6F aircraft bearing manufacturer’s serial number 27347, each with associated Engines, or any replacement engine and associated documentation, all as more fully described in the
respective Lease. 
 “Airframe” means either or both, as the context may require, of the Boeing model 737-3H6F aircraft
(excluding Engines or engines from time to time installed thereon) with 

 
manufacturer’s serial number 27125 and registration mark F-GIXR and any and all related parts, and the Boeing model 737-3H6F aircraft (excluding Engines
or engines from time to time installed thereon) with manufacturer’s serial number 27347 and registration mark F-GIXS and any and all related parts. 
 “Assets and Properties” of any Person means all assets and properties of every kind, nature, character and description (whether real, personal or mixed, whether tangible or intangible, whether
absolute, accrued, contingent, fixed or otherwise and wherever situated), including the goodwill related thereto, operated, owned or leased by such Person, including without limitation cash, cash equivalents, Investment Assets, accounts and notes
receivable, chattel paper, documents, instruments, general intangibles, real estate, equipment, inventory, goods and Intellectual Property. 
 “Audited Financial Statements” means the Financial Statements for the most recent fiscal year of the Company delivered to Purchaser pursuant to Section 5.1.13. 
 “Audited Financial Statement Date” means the last day of the most recent fiscal year of the Company for which Financial Statements are
delivered to the Transferees pursuant to Section 5.1.13. 
 “Books and Records” means all files, documents,
instruments, papers, books and records relating to the Business or Condition of the Company, including without limitation financial statements, Tax Returns and related work papers and letters from accountants, budgets, pricing guidelines, ledgers,
journals, deeds, title policies, minute books, share certificates and statutory books and registers, Contracts, Licenses, customer lists, computer files and programs, retrieval programs, operating data and plans and environmental studies and plans.

 “Business or Condition of the Company” means the business, condition (financial or otherwise), results of operations,
Assets and Properties and prospects of the Company taken as a whole. 
 “Business Day” means a day other than Saturday,
Sunday or any day on which banks located in Illinois, Florida, London or Malta are authorized or obligated to close. 
 “Closing” has the meaning ascribed thereto in Section 2.2. 
 “Closing Date” means the date
on which the Closing occurs. 
 “Contract” means any agreement, lease, license, evidence of Indebtedness, mortgage,
indenture, security agreement or other contract (whether written or oral). 
 “Deposit” has the meaning ascribed thereto in
Section 3. 
 “DGAC” means the Direction Generale de l’Aviation Civile, the French civil aviation authority.

 “Dresdner Loan Agreement” means the Loan Agreement, dated April 7, 2000, between Company, as borrower, the banks and
financial institutions named therein as Banks, and Dresdner Kleinwort Wasserstein Limited, as agent, as amended, supplemented or otherwise modified from time to time. 
  

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 “Encumbrance” has the meaning ascribed to such term in the Leases. 
 “Engine” means each of the two (2) CFM International, Inc. model CFM56-3C1 engines, bearing, with respect to the Aircraft bearing
manufacturer’s serial number 27125, engine manufacturer’s serial numbers 856468 and 856470, and, with respect to the Aircraft bearing manufacturer’s serial number 27347, engine manufacturer’s serial numbers 857685 and 857686
whether or not from time to time installed on the applicable Airframe or any other airframe. 
 “Erste Bank Loan Facility”
means the Loan Agreement [27125 and 27347] dated as of the date hereof between the Company, as borrower, the lenders listed therein, and the Administrative Agent. 
 “Existing Financing” means the loans made pursuant to the Dresdner Loan Agreement. 
 “Financial Statements” means the financial statements of the Company delivered to the Transferees pursuant to Section 5.1.13. 
 “Form 8832 Election” means the election made by the Transferor on March 10, 2003 to treat the Company (a “foreign eligible entity,” as that term is used in United States Treasury
Regulations section 301.7701-3) as an entity disregarded from its owner for United States federal tax purposes, effective beginning January 1, 2003. 
 “GAAP” means Irish generally accepted accounting principles, consistently applied throughout the specified period and in the immediately prior comparable period. 
 “Governmental or Regulatory Authority” means any court, tribunal, arbitrator, authority, agency, commission, official or other
instrumentality of Ireland, the United States, any foreign country or any domestic or foreign state, county, city or other political subdivision. 
 “Indebtedness” of any Person means all obligations of such Person (i) for borrowed money, (ii) evidenced by notes, bonds, debentures or similar instruments, (iii) for the deferred purchase price of goods or
services (other than trade payables or accruals incurred in the ordinary course of business), (iv) under capital leases and (v) in the nature of guarantees of the obligations described in clauses (i) through (iv) above of any
other Person. 
 “Intellectual Property” means all patents and patent rights, trademarks and trademark rights, trade names
and trade name rights, service marks and service mark rights, service names and service name rights, brand names, inventions, processes, formulae, copyrights and copyright rights, trade dress, business and product names, logos, slogans, trade
secrets, industrial models, processes, designs, methodologies, computer programs (including all source codes) and related documentation, technical information, manufacturing, engineering and technical drawings, know-how and all pending applications
for and registrations of patents, trademarks, service marks and copyrights. 
  

 3 

 “Investment Assets” means all debentures, notes and other evidences of Indebtedness,
stocks, securities (including rights to purchase and securities convertible into or exchangeable for other securities), interests in joint ventures and general and limited partnerships, mortgage loans and other investment or portfolio assets owned
of record or beneficially by the Company and issued by any Person other than the Company (other than trade receivables generated in the ordinary course of business of the Company). 
 “Knowledge of Transferor” or “Known to Transferor” means the knowledge of any officer, director or employee of
Transferor or the Company. 
 “Laws” means all laws, statutes, rules, regulations, ordinances and other pronouncements
having the effect of law of Ireland, the United States, any foreign country or any domestic or foreign state, county, city or other political subdivision or of any Governmental or Regulatory Authority. 
 “Leases” means that certain Aircraft Lease Agreement dated April 6, 2000, as amended and restated on December 21, 2005, in
respect of the Aircraft bearing manufacturer’s serial number 27125 and that certain Aircraft Lease Agreement dated April 6, 2000, as amended and restated on December 21, 2005, in respect of the Aircraft bearing manufacturer’s
serial number 27347, each between the Company, as lessor, and the Lessee, each as amended, supplemented or otherwise modified from time to time. 
 “Lessee” means Europe Airpost S.A., a French société anonyme. 
 “Lessee Consents”
means the Lessee Consent (with respect to the Aircraft with manufacturer’s serial number 27125) and Lessee Consent (with respect to the Aircraft with manufacturer’s serial number 27347), each dated as of the Closing Date, by and between
the Company, the Administrative Agent, and consented to by Lessee, substantially in the form attached as Exhibit A to this Agreement. 
 “Liabilities” means all Indebtedness, obligations and other liabilities of a Person (whether absolute, accrued, contingent, fixed or otherwise, or whether due or to become due). 
 “Licenses” means all licenses, permits, certificates of authority, authorizations, approvals, registrations, franchises and similar
consents granted or issued by any Governmental or Regulatory Authority. 
 “Liens” means any mortgage, pledge, assessment,
security interest, lease, lien, adverse claim, levy, charge or other encumbrance of any kind, or any conditional sale Contract, title retention Contract or other Contract to give any of the foregoing. 
 “Loss” and “Losses” shall have the meaning ascribed to such term in Section 10.1 hereof. 
 “Option” with respect to any Person means any security, right, subscription, warrant, option, “phantom” stock right or other
Contract that gives the right to (i) purchase or otherwise receive or be issued any shares of capital stock of such Person or any security of any kind convertible into or exchangeable or exercisable for any shares of capital stock of such
Person or (ii) receive or exercise any benefits or rights similar to any rights enjoyed by or accruing to the 

  

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holder of shares of capital stock of such Person, including any rights to participate in the equity or income of such Person or to participate in or direct
the election of any directors or officers of such Person or the manner in which any shares of capital stock of such Person are voted. 
 “Order” means any writ, judgment, decree, injunction or similar order of any Governmental or Regulatory Authority (in each such case whether preliminary or final). 
 “Permitted Lien” means any Lien created by the entering into of the Relevant Documents. 
 “Person” means any individual, corporation, body corporate, limited company, limited liability company, trust, partnership (general or
limited), unincorporated association, joint venture, association, joint-stock company, government or government entity. 
 “Purchase
Amount” means $675,000. 
 “Relevant Documents” has the meaning ascribed thereto in Section 5.1.10.

 “Revenue Authority” has the same meaning as in the Tax Deed. 
 “Sale Documents” means this Agreement, the Transferor Parent Guarantee, the Share Transfer Form, Tax Deed, and any other agreements,
documents, certificates and instruments executed and delivered in connection therewith. 
 “Section 338 Election” means the
election made pursuant to Section 338 on Internal Revenue Service (“IRS”) Form 8023 to treat the purchase of the shares of Aviacargo Leasing Limited as the purchase of Aviacargo Leasing Limited’s assets, effective with the tax
year ending December 31, 2002. 
 “Shares” has the meaning ascribed to it in the forepart of this Agreement.

 “Share Transfer Form” means the share/stock transfer forms, each dated as of the date hereof, between the Transferor and
each of the Transferees. 
 “Subordinated Loan Agreement” means the loan agreement dated April 12, 2002 and amended
December 21, 2005 between Transferor and the Company. 
 “Tax”, “Taxes” or “Taxation” has the same
meaning as in the Tax Deed. 
 “Tax Deed” means the deed of tax covenant entered into between the Transferor and the
Transferees on Closing. 
 “Tax Return” means any return, declaration, report, claim for refund, or information return or
statement relating to Taxes, including any schedule or attachment thereto, and including any amendment thereof, including, where permitted or required, combined or consolidated returns for any group of entities that include the Company. 

“Tax Warranties” means those warranties and representations contained in Section 5.2. 
  

 5 

 “TCA” means the Taxes Consolidation Act 1997. 
 “Transfer Taxes” has the meaning set forth in Section 7. 
 “Transferee Indemnitees” means, with respect to each Transferee, such Transferee and its affiliates, officers, directors, agents,
partners, members and employees. 
 “Transferor Indemnitees” means the Transferor and its affiliates, officers, directors,
agents, partners, members and employees. 
 “Transferor Parent” means AJG Financial Services, Inc., a Delaware corporation.

 “Transferor Parent Guarantee” means that certain Guarantee Agreement made as of the date hereof by the Transferor Parent
in favor of the Transferees. 
 “VAT” means value added tax. 
 1.2 Construction of Certain Terms and Phrases. Unless the context of this Agreement otherwise requires, (i) words of any gender
include each other gender; (ii) words using the singular or plural number also include the plural or singular number, respectively; (iii) the terms “hereof,” “herein,” “hereby” and derivative or similar words
refer to this entire Agreement; (iv) the terms “Article”, “Section”, “Schedule” and “Exhibit” refer to the specified Article, Section, Schedule or Exhibit of or to this Agreement; (v) the phrase
“ordinary course of business” refers to the business of the Company, and (vi) whenever the words “include,” “includes” or “including” are used in this Agreement they shall be deemed to be followed by the
words “without limitation.” Whenever this Agreement refers to a number of days, such number shall refer to calendar days unless Business Days are specified. All accounting terms used herein and not expressly defined herein shall have the
meanings given to them under GAAP. Other capitalized terms used herein and not expressly defined herein shall have the respective meanings ascribed thereto in the Leases. 
 Section 2. Sale of Shares and Closing 
 2.1 Sale and Purchase. Transferor agrees to
sell to each Transferee, and each Transferee agrees to purchase from Transferor, all of the right, title and interest of Transferor in and to one Share at the Closing on the terms and subject to the conditions set forth in this Agreement.

 2.2 Closing. Subject to the terms and conditions of this Agreement, the transaction contemplated by Section 2.1 shall
occur (the “Closing”) on or about January     , 2007 or such other date, if any, as may be agreed to by the parties hereto. If the Closing has not occurred on or prior to January 31, 2007, or as
otherwise extended in writing as may be agreed to by the parties hereto, then, if no party hereto is in default of its obligations hereunder or under any of the Sale Documents, no party hereto shall have any further obligations hereunder or under
any other Sale Documents and the Deposit shall be immediately returned to the Transferees. 
 2.3 Further Assurances; Post-Closing
Cooperation. At any time or from time to time after the Closing, Transferor shall execute and deliver to each Transferee a duly completed 

  

 6 

 
and executed Share Transfer Form and such other documents and instruments, provide such materials and information and take such other actions as such
Transferee may reasonably request more effectively to vest title to the respective Share in such Transferee and, to the full extent permitted by Law, to put such Transferee in actual possession and operating control of the Company and its Assets and
Properties and Books and Records, and otherwise to cause Transferor to fulfill its obligations under this Agreement and the other Sale Documents to which it is a party. 
 Section 3. Purchase Amount 
 On the Closing Date, subject to the satisfaction of all conditions
precedent set forth in Section 4.1, the Transferees shall pay to Transferor an aggregate amount equal to the Purchase Amount (minus the Deposit). Payment of the Purchase Amount to Transferor shall be made in immediately available funds by wire
transfer to: 
  

							
	 Bank:
	  	Bank of America	  		  	
	 ABA#:
	  	026009593	  		  	
	 Swift Code:
	  	BOFAUS3NXXX	  		  	
	 Account No.:
	  	8188900070	  		  	
	 Account Name:
	  	AJG Capital, Inc.	  		  	
	 Attention:
	  	Kati Gleeson	  		  	

 or to such other account as Transferor may specify to Transferees on or prior to the Closing Date. 
 On November 6, 2006, Transferees deposited an amount of $200,000 with the Transferor as a deposit with respect to the Shares to be purchased
hereunder (the “Deposit”). Upon the sale of the Shares to Transferees hereunder on the Closing Date, the Deposit shall be applied by the Transferees to the payment of the Purchase Amount for such Shares. The Deposit shall be
non-refundable unless any of the conditions precedent to Transferees’ obligations in respect of the purchase of the Shares set forth herein are not satisfied or unless otherwise provided herein. 
 Section 4. Conditions Precedent 
 4.1 Conditions Precedent to the Purchase. Transferees’ obligation to purchase the Shares and pay the Purchase Amount on the Closing Date is subject to the satisfaction of all of the following conditions on or prior to the
Closing Date: 
 4.1.1 Agreements. Each Transferee shall have received (i) the fully executed Lessee Consents, dated as of the
Closing Date; (ii) copies of bills of sale evidencing the Company’s title to the Aircraft; (iii) the fully executed Transferor Parent Guarantee, dated as of the Closing Date; (iv) the fully executed Tax Deed; and (v) the
Acceptance Certificate for each of the Aircraft. 
 4.1.2 [Reserved] 
 4.1.3 Representations and Warranties True. All representations and warranties of Transferor contained in this Agreement shall be true and correct
in all material respects on the Closing Date. 
  

 7 

 4.1.4 Inspection. Each Transferee shall have completed an inspection of the Aircraft (including
the records of the Aircraft), which shall have been satisfactory to such Transferee in its sole and absolute discretion. On the Closing Date the Aircraft shall be, and such Transferee shall be satisfied that the Aircraft is, in the same condition as
when such Transferee shall have completed the inspection on November 2, 2006 and found the condition of the Aircraft satisfactory. 
 4.1.5 No Event of Default. No event of default, or any event which with notice and/or the passage of time could become an event of default (including a Total Loss or Termination Event (each as defined in the respective Lease), or any
event which with notice and/or the passage of time could become an Termination Event (as defined in the respective Lease)), shall have occurred and be continuing with respect to the Relevant Documents. 
 4.1.6 Insurance. Each Transferee shall have received an insurance broker’s letter in form and substance reasonably satisfactory to such
Transferee confirming that all insurance required to be maintained pursuant to Article 16 of the Leases (as amended pursuant to the respective Lessee Consents) is in full force and effect and shall name such Transferee and its directors, officers,
employees, shareholders, affiliates and servants and such Transferee’s lenders and financiers as additional insureds with respect to the Aircraft. 
 4.1.7 Evidence of Authority. Each Transferee shall have received a certificate dated the Closing Date and executed by the Secretary or any Assistant Secretary of the Transferor certifying attachment of true,
correct and complete copies of each of the following: (a) Articles of Incorporation of Transferor, as amended, certified by the Secretary of State of the State of Illinois, (b) Articles of Incorporation of Transferor Parent, as amended,
certified by the Secretary of State of the State of Delaware, (c) a Certificate of Good Standing of Transferor, dated as of a recent date and issued by the Secretary of State of the State of Illinois, (d) a Certificate of Good Standing of
Transferor Parent, dated as of a recent date and issued by the Secretary of State of the State of Delaware, (e) copies of the resolution(s) or consent(s) of each of Transferor and Transferor Parent authorizing the execution, delivery and
performance of the Sale Documents to which it is a party and (f) certified incumbency certificates from each of the Transferor and Transferor Parent identifying by name, title and specimen signature the Persons authorized to execute and deliver
the Sale Documents to which it is a party. 
 4.1.8 Opinions of Counsel. Each Transferee shall have received the following legal
opinions, each dated the Closing Date and in form and substance reasonably satisfactory to such Transferee: 
  

	 	(a)	an opinion from White & Case LLP, special DGAC counsel; 

  

	 	(b)	an opinion from Matheson Ormsby Prentice, special Irish counsel; and 

  

	 	(c)	an opinion from DLA Piper US LLP, special counsel to Transferor and Transferor Parent. 

 4.1.9 No Proceedings. On the Closing Date, no legal or governmental action, suit or proceeding shall have been instituted or threatened before any court, administrative 

  

 8 

 
agency or tribunal nor shall any order, judgment or decree have been issued or proposed to be issued by any court, administrative agency or tribunal, in
either case, to set aside, restrain, enjoin or prevent the consummation of the transactions contemplated hereby. 
 4.1.10 Illegality.
On the Closing Date, the performance of the transactions contemplated hereby, upon the terms and conditions set forth herein, shall not, in the reasonable judgment of each Transferee (after consultation with outside counsel), violate, and shall not
subject such Transferee to any penalty or liability under, any Law, rule or regulation binding upon such Transferee. 
 4.1.11
Performance. Transferor shall have performed and complied with, in all material respects, each agreement, covenant and obligation required by this Agreement and the other Sale Documents to be so performed or complied with by Transferor at or
before the Closing. 
 4.1.12 Compliance with Relevant Documents. Transferor shall have duly taken such action as is reasonably
required to be taken by it with respect to the transfer, sale and assignment of the Shares in accordance with the provisions of the Relevant Documents, and shall otherwise have satisfied or be in material compliance with all conditions or
requirements under such Relevant Documents applicable to the transfer of the Shares. 
 4.1.13 Existing Financing. The Existing
Financing shall have been refinanced pursuant to the Erste Bank Loan Facility on the Closing Date. 
 4.1.14 Review of Relevant
Documents. Each Transferee shall have completed a review of the Leases and other Relevant Documents, which shall have been satisfactory to such Transferee in its sole and absolute discretion. 
 4.1.15 Officers’ Certificates. Transferor shall have delivered to each Transferee a certificate, dated the Closing Date and executed in the
name and on behalf of Transferor by the Chairman of the Board, the President or any Executive or Senior Vice President of Transferor, confirming compliance with the conditions set forth in Section 4.1.3. 
 4.1.16 Third Party Consents. All consents (or in lieu thereof waivers) to the performance by each Transferee and Transferor of their respective
obligations under this Agreement and the other Sale Documents or to the consummation of the transactions contemplated hereby and thereby as are required under any Contract to which such Transferee, Transferor, Transferor Parent, or the Company is a
party or by which any of their respective Assets and Properties are bound (a) shall have been obtained, (b) shall be in form and substance reasonably satisfactory to such Transferee, (c) shall not be subject to the satisfaction of any condition that
has not been satisfied or waived and (d) shall be in full force and effect, except where the failure to obtain any such consent (or in lieu thereof waiver) could not reasonably be expected, individually or in the aggregate with other such failures,
to materially adversely affect such Transferee or the Business or Condition of the Company or otherwise result in a material diminution of the benefits of the transactions contemplated by this Agreement and the other Sale Documents to such
Transferee. 
  

 9 

 4.1.17 Other Documents. Transferor shall have delivered to each Transferee such other documents,
certificates and opinions as such Transferee may reasonably request. 
 4.2 Conditions Precedent to the Sale. Transferor’s
obligation to sell the Shares on the Closing Date is subject to the satisfaction of all of the following conditions on or prior to the Closing Date: 
 4.2.1 Purchase Amount. Transferor shall have received the Purchase Amount in accordance with Section 3 hereof. 
 4.2.2
Representations and Warranties. All representations and warranties of Transferees contained in Section 5.2 shall be true and correct on the Closing Date. 
 4.2.3 Evidence of Authority. Transferor shall have received (1) certified documentation evidencing the due authorization by all necessary action of the execution, delivery and performance by each
Transferee of this Agreement and the other Sale Documents to which it is a party, and (2) a certified incumbency certificate from each Transferee identifying by name, title, and specimen signature, the Persons authorized to execute and deliver
the Sale Documents to which it is a party. 
 4.2.4 Compliance with Transfer Requirements. Each Transferee shall have complied with
all requirements of such Transferee applicable with respect to the transfer of the Shares set forth in the Relevant Documents. 
 4.2.5
Illegality. On the Closing Date, the performance of the transactions contemplated hereby, upon the terms and conditions set forth herein, shall not, in the reasonable judgment of Transferor (after consultation with outside counsel), violate,
and shall not subject Transferor to any penalty or liability under, any Law, rule or regulation binding upon Transferor. 
 4.2.6 No
Proceedings. On the Closing Date, no legal or governmental action, suit or proceeding shall have been instituted or threatened before any court, administrative agency or tribunal nor shall any order, judgment or decree have been issued or
proposed to be issued by any court, administrative agency or tribunal, in either case, to set aside, restrain, enjoin or prevent the consummation of the transactions contemplated hereby. 
 Section 5. Representations and Warranties 
 5.1 Representations and Warranties of Transferor. In order to induce each Transferee to enter into this Agreement and to have the Transferees pay the Purchase Amount, Transferor hereby makes, as of the
date hereof and as of the Closing Date, the following representations and warranties to each Transferee, each of which representations and warranties shall survive the Closing without limitation. 
 5.1.1 Organization, Power, Etc. Transferor is a corporation duly organized, validly existing and in good standing under the laws of Illinois and
has requisite corporate power and authority to enter into and perform its obligations under this Agreement and all other Sale Documents executed by it in connection herewith. 
  

 10 

 5.1.2 Authorization and Binding Effect. The execution, delivery and performance of this Agreement
and the other Sale Documents to be executed by Transferor and the transactions contemplated hereby and thereby relating to Transferor have been duly and validly authorized by all necessary corporate action of Transferor, and no other corporate
action on the part of the Transferor is necessary. This Agreement and each other Sale Document to which Transferor is a party have been duly executed and delivered by Transferor, and, upon due authorization, execution and delivery by the other
parties hereto and thereto, this Agreement and the other Sale Documents to which Transferor is a party shall be the legal, valid and binding obligations of Transferor enforceable against Transferor in accordance with their respective terms, except
as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar Laws affecting creditors’ rights generally or by equitable principles. 
 5.1.3 Litigation. There are no Actions or Proceedings pending or, to the Knowledge of Transferor, threatened against, relating to or affecting
Transferor, the Company or any of their respective Assets and Properties. 
 5.1.4 No Consent; No Violation. Neither the execution and
delivery by Transferor of this Agreement and the other Sale Documents to which Transferor is a party, nor the performance by Transferor of its obligations hereunder and thereunder, (1) requires the consent or approval of, the giving of notice
to, the registration or filing with or the taking of any action in respect of, any federal or state governmental authority on the part of Transferor except such as have been duly obtained, given, made or taken, and except routine reporting or
regulatory requirements with governmental authorities which do not affect the validity, legality or enforceability of the transactions contemplated hereby, provided that no representation is made with respect to any consent, approval or
registration, or action, under any Law of any jurisdiction relating to the Aircraft or the ownership, use or operation thereof, or (2) violates any Law, rule or regulation binding on Transferor, or any order, writ, injunction or decree of any
court or governmental agency or instrumentality binding on Transferor, or (3) contravenes Transferor’s corporate charter documents, or (4) will result in any material breach of any of the terms or provisions of, or constitute a
default under, any material agreement, document or instrument to which Transferor is a party or by which it is bound, or result in an Encumbrance on the Aircraft or Liens on the Shares. 
 5.1.5 Lessee Disputes. Transferor has not received, and to the Knowledge of Transferor, there has been no written (including via electronic
communication) claim, dispute or notice thereof arising under or relating to the Leases or any other Relevant Document between the Lessee and the Company relating to any financial obligations of the Lessee under the Relevant Documents. 

5.1.6 Title. Transferor is the sole owner of the Shares. The Shares are duly authorized, validly issued, fully paid, non-assessable and were
not issued to Transferor in violation of any purchase or call option, right of refusal, subscription right, preemptive right or any other similar rights. There are no outstanding Options with respect to the Company. Transferor owns the Shares,
beneficially and of record, free and clear of all Liens, and upon execution and delivery of the Sale Documents by Transferor, such title to the Shares shall be transferred to Transferees free and clear of all Liens. The Company has good and
marketable title to each of the Aircraft free and clear of all Liens other than Permitted Liens. 
  

 11 

 5.1.7 Transaction. The Company is, as of the Closing Date, and has been since May 23, 2002, a
special purpose vehicle created for the sole purpose of owning the Aircraft and carrying out the transactions contemplated by the Leases and financing the Aircraft (pursuant to the Existing Financing). 
 5.1.8 Termination Event. To the Knowledge of Transferor, there has been no event that would constitute an event of default, or any event which
with notice and/or the passage of time could become an event of default (including a Total Loss or Termination Event (each as defined in the respective Lease), or any event which with notice and/or the passage of time could become an Termination
Event (as defined in the respective Lease), and Transferor has received no written notice of termination or default under any Relevant Document. 
 5.1.9 Total Loss. To the Knowledge of Transferor, there has been no Total Loss or an event that, with the lapse of time or the making of a determination, might become a Total Loss and Transferor has received no written (including via
electronic communication) notice of any accident or physical damage to any Airframe or to any Engine occurring between the time of the last inspection of the Aircraft by a Transferee on November 2, 2006 and the Closing Date. 
 5.1.10 Relevant Documents. Set forth in Schedule 5.1.10 to this Agreement is a complete list of all Contracts or other arrangements to
which the Company is a party or by which any of its Assets and Properties is bound (such documents listed on Schedule 5.1.10 hereto, collectively, the “Relevant Documents”). 
 5.1.11 Prepaid Rent. No Rent that is payable under any Lease or any other Relevant Document on any date subsequent to the Closing Date has been
prepaid (other than the Rent payment made on December 13, 2006), has been waived, has been compromised or has been forgiven. 
 5.1.12
Company Fees. All fees and expenses of the Company pursuant to or in any way related to the Assets and Properties of the Company or any Lease due and owing on or prior to the Closing Date have been fully paid by Lessee or Transferor through
and including the Closing Date. 
 5.1.13 Financial Statements. Prior to the execution of this Agreement, Transferor has delivered to
each Transferee true and complete copies of the following financial statements: 
 (a) the audited balance sheets of the
Company as of December 31, 2005, and the related audited statements of operations, shareholders’ equity and cash flows for such fiscal year then ended, together with a true and correct copy of the report on such audited information by Ernst
& Young; and 
 (b) the unaudited balance sheets of the Company as of October 31, 2006, and the related unaudited
statements of operations and stockholders’ equity for the portion of the fiscal year then ended. 
 Except as set forth in the notes
thereto and as disclosed in Schedule 5.1.13, all such financial statements (i) were prepared in accordance with GAAP, (ii) fairly present the financial condition and results of operations of the Company as of the respective dates thereof and
for the respective periods covered thereby, and (iii) were compiled from the Books and Records of the 

  

 12 

 
Company regularly maintained by management of the Company (or Transferor on behalf of the Company), and used to prepare the financial statements of the
Company in accordance with the principles stated therein. The Company (or Transferor on behalf of the Company) has maintained its respective Books and Records in a manner sufficient to permit the preparation of financial statements in accordance
with GAAP. 
 5.1.14 Absence of Changes. Except for the execution and delivery of this Agreement and the transactions to take place
pursuant hereto on or prior to the Closing Date, since the Audited Financial Statement Date the Company has conducted its business in the ordinary course of business and there has not been any material adverse change, or any event or development
which, individually or together with other such events, could reasonably be expected to result in a material adverse change, in the Business or Condition of the Company. 
 5.1.15 No Undisclosed Liabilities. Except as reflected or reserved against in the balance sheet included in the Audited Financial Statements or in the notes thereto or as disclosed in Schedule 5.1.15 or
any other Schedule hereto, there are no Liabilities against, relating to or affecting the Company or any of their respective Assets and Properties. 
 5.1.16 Licenses. Schedule 5.1.16 contains a true and complete list of all Licenses used in and material, individually or in the aggregate, to the business or operations of the Company (and all pending applications for any such
Licenses), setting forth the grantor, the grantee, the function and the expiration and renewal date of each. Prior to the execution of this Agreement, Transferor has delivered to each Transferee true and complete copies of all such Licenses. Except
as disclosed in Schedule 5.1.16: 
  

	 	(a)	the Company owns or validly holds all Licenses that are material, individually or in the aggregate, to its business or operations as currently conducted; 

 

	 	(b)	each License listed in Schedule 5.1.16 is valid, binding and in full force and effect; and 

  

	 	(c)	the Company is not, and has not received any notice that it is, in default (or with the giving of notice or lapse of time or both, would be in default) under any such License.

 5.1.17 Employees. Since its inception, at no time did the Company ever have any employees. 
 5.1.18 Bank and Brokerage Accounts; Investment Assets. The Company has no (a) bank account or safe deposit box at any bank, trust company,
securities broker or other financial institution or (b) Investment Assets. 
 5.1.19 No Powers of Attorney. Except as set forth
in Schedule 5.1.19, the Company does not have any powers of attorney or comparable delegations of authority outstanding. 
  

 13 

 5.1.20 Lease Chattel Paper. No original copy of either Lease has been designated the “chattel
paper original” and neither the Transferor nor the Company is in possession of an original copy of either Lease. 
 5.1.21
Subordinated Loan. All Indebtedness of the Company in respect of the Subordinated Loan Agreement shall have been forgiven by the Transferor. 
 5.1.22 Disclosure. All material facts relating to the Business or Condition of the Company have been disclosed to Transferee in or in connection with this Agreement. No representation or warranty contained in this Agreement and the
other Sale Documents, and no statement contained in the Schedules hereto or in any certificate, list or other writing furnished to Transferee pursuant to any provision of this Agreement and the other Sale Documents (including without limitation the
Financial Statements), contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements herein or therein, in the light of the circumstances under which they were made, not misleading.

 5.2 Taxes. 
 (a)
The Company has no liability in respect of Tax (actual or contingent) that is not fully provided for in the Audited Financial Statements. 
 (b) Since the Audited Financial Statements Date: 
  

	 	(i)	no accounting period of the Company has ended or could be treated as having ended; 

  

	 	(ii)	the Company has not been involved in any transaction for which any statutory Tax clearance or other tax clearance commonly obtained by companies carrying on businesses similar to
those carried on by the Company has been sought or obtained or could have been sought or obtained; 

  

	 	(iii)	the Company has not declared, made or paid any distribution within the meaning of TCA; 

  

	 	(iv)	There has been no disposal of any asset (including trading stock) or supply of any service or business facility of any kind (including a loan of money or the letting, hiring or
licensing of any property whether tangible or intangible) in circumstances where the consideration actually received or receivable for such disposal or supply was less than the consideration which could be deemed to have been received for tax
purposes; 

  

	 	(v)	no event has occurred which will or may have the effect of crystallising a liability to taxation which should have been included in the provision for deferred taxation contained in
the Audited Financial Statements; 

  

 14 

	 	(vi)	no event has occurred which will or may give rise to a liability to Taxation on the Company where such liability would be computed by reference to deemed income, profits or gains;

  

	 	(vii)	no event has occurred which will or may give rise to a liability to Taxation on the Company where such liability is directly or primarily chargeable against or attributable to
another Person, firm or company; 

  

	 	(viii)	the Company has not paid or become liable to pay any surcharge, interest or penalty in connection with any tax, has otherwise paid any tax after its due date for payment or owes any
tax the due date for payment of which has passed or will arise within 45 days following the date of this agreement; 

  

	 	(ix)	the Company has not received any notice from any tax, revenue or fiscal authority which required or will or may require the Company to withhold tax from any payment actually made
since the Audited Financial Statements or which is likely to be or may be made after the date of this agreement; and 

  

	 	(x)	the Company has not made any payment or become obliged to make any payment (other than a Section 81(2)(f) TCA payment) which will not be deductible when calculating trading
profits for the purposes of corporation tax. 

 (c) The Company is resident in Ireland for Tax purposes and has not been at any
time resident in any jurisdiction other than or in addition to Ireland for Tax purposes, and has never carried on any trade in any other country (whether through a branch, agency, permanent establishment or otherwise) and has not at any time paid
Tax on income, profits or gains to any Tax, revenue or fiscal authority in any other country except Ireland 
 (d) With the exception of the
Irish corporation tax returns for the tax years ended December 31, 2002 and December 31, 2003, the Company has filed, within the time prescribed by Law, all Tax Returns required to be filed by applicable Law prior to the date hereof. All
Tax Returns were (and, as to Tax Returns not filed as of the date hereof, will be) true, complete and correct and filed on a timely basis. The Company (i) has paid all Taxes that are due, or claimed or asserted by any taxing authority to be
due, from the Company for the periods covered by the Tax Returns. 
 (e) The Company has duly and properly submitted all claims, elections,
amendments to claims, withdrawals of claims and disclaimers which have been assumed to have been made for the purposes of the Audited Financial Statements with the exception of elections pursuant to Section 452 TCA. All outstanding
Section 452 elections have been submitted at the date of this Agreement. 
 (f) The Company has sufficient and proper records relating
to past events, including any claims or elections made to calculate the tax liability or relief which would arise on any 

  

 15 

 
disposal or on the realization of any asset owned by the Company at the Audited Financial Statements Date or acquired by the Company since the Audited
Financial Statements Date but before Completion. 
 (g) The Company is not required to file any tax return in a jurisdiction other than
Ireland. No Revenue Authority outside of Ireland has asserted that the Company is required to file a Tax Return in such jurisdiction. 
 (h)
There are no Tax Liens upon the Assets and Properties of the Company except Liens for Taxes not yet due. 
 (i) The Company has complied (and
until the Closing Date will comply) with all applicable Laws, rules, and regulations relating to the payment and withholding of Taxes (including withholding and reporting requirements in respect of any amounts payable pursuant to the Dresdner Loan
Agreement, the Subordinated Loan Agreement and the Leases and has, within the time and in the manner prescribed by Law, paid over to the proper governmental authorities all amounts withheld. 
 (j) The Company has not requested (and no request has been made on its behalf) any extension of time within which to file any Tax Return. The Company has
not executed any outstanding waivers or comparable consents regarding the application of the statute of limitations for any Taxes or Tax Returns (and no extensions have been executed on their behalf). In the five years prior to the Closing Date no
deficiency for any Taxes has been suggested, proposed, asserted or assessed against the Company that has not been resolved and paid in full. 
 (k) No assessments, audits or other administrative proceedings or court proceedings are presently pending or to the knowledge of Transferor threatened with regard to any Taxes or Tax Returns of the Company. 
 (l) No power of attorney or similar delegation currently in force has been granted by the Company concerning any Tax matter. 
 (m) The Company has not received any written ruling or concession of a Revenue Authority relating to Taxes, or any other written and legally binding
agreement with a Revenue Authority relating to Taxes. 
 (n) Transferor has made available (or, in the case of Tax Returns to be filed on or
before the Closing Date, will make available) to each Transferee complete and accurate copies of all Tax Returns and associated work papers filed by or on behalf of the Company for all taxable years ending on or prior to the Closing Date.

 (o) The Company does not now have and did not formerly have any employees or subsidiaries or other entities in which it held any
interests. 
 (p) Consummation of the transactions contemplated by this Agreement and the other Sale Documents will not cause the Company to
become subject to any Taxes. 
  

 16 

 (q) Transferor has at all times on and after May 23, 2002 owned all of the outstanding ownership
interests in the Company and the Company has at all times been an Irish company limited by shares. 
 (r) The Company has never been the
obligor under any instruments for borrowed money other than the Dresdner Loan Agreement and the Subordinated Loan Agreement. 
 (s) Neither
Transferor nor the Company have filed any elections regarding the United States federal income tax character or treatment of the Company or the activities of the Company apart from the Section 338 Election and the Form 8832 Election.

 (t) For Irish corporate tax purposes, immediately following the Closing the tax written down value of the Aircraft of the Company is not
less than USD$5,833,750 in the aggregate. 
 (u) As of December 31, 2005, the Company had a Case I trading loss forward for Irish
corporate tax purposes available to offset against future trading income is USD$31,860,959. 
 (v) No asset has been disposed of by the
Company to a Connected Person of the Company otherwise than at arms’ length. 
 (w) The Company is registered for the purposes of VATA
1972 and has made, given, obtained and kept complete, correct and up-to-date returns (other than Irish VAT returns with due dates March 19, 2004, January 19, 2004, November 19, 2003 and September 19, 2003, which were
filed after the due date), records, invoices and other documents appropriate or required for VAT purposes and is not in arrears with any payments or returns due and has not been required by the Revenue Commissioners or any other fiscal authority to
give security or further security under Section 23A VATA 1972. 
 (x) The Company has never been treated as a member of a VAT group
under either Section 8(8) VATA 1972 and no application has at any time been made for the Company to be treated as a member of a VAT group. 
 (y) All customs duties, excise duties, common agricultural policy charges, value added tax and other taxes, duties, charges or levies payable to the Revenue Commissioners (or the customs and excise service) upon the importation of goods and
assets imported, owned or used by the Company have been properly accounted for and recorded or have been paid in full. 
 (z) Every document
in the possession of or under the control of the Company or which affords any right or rights to the Company has been duly and properly stamped and the Company has no outstanding liability for stamp duty, or capital duty or interest or penalties
relating to same. 
 (aa) The Company has not been involved in any transaction involving any instrument in relation to which a claim for
exemption from stamp duty or capital duty was made in accordance with either Sections 79, 80 and 119 of the Stamp Duties Consolidation Act 1999. 
  

 17 

 (ab) Since February 24, 2000, the Company has not acquired from any other company (whether another
group member or otherwise) any asset in circumstances where the companies were, at the time of the acquisition, members of the same group of companies for Tax purposes. 
 (ac) Since February 24, 2000, the Company has not been involved in any transaction falling within the provisions of Sections 621 and 622 TCA or Part 21 TCA. 
 (ad) In respect of all dividends paid, the Company has fully and correctly complied with the provisions of Chapter 8A of Part 6 TCA and has deducted and
accounted for all appropriate dividend withholding Tax and has no outstanding liability in respect of dividend withholding Tax. 
 (ae) In
respect of all dividends paid by the Company which were exempt from dividend withholding Tax, the Company has received an appropriate declaration in the form prescribed in TCA from the recipients of such dividends, evidencing that dividend
withholding Tax was not payable. 
 (af) The Company has not been involved in any Tax avoidance transaction within the meaning of
Section 811 TCA. 
 (ag) The Company has not committed any act nor made any omission which might constitute an offence under
Section 1078 TCA (aiding, abetting, assisting etc taxation evasion) or any other similar provision. 
 (ah) The Company obtained a VAT
60B authorization in respect of services supplied to Europe Airpost S.A. valid until July 21, 2008, and has provided a true, correct, and complete copy of such certificate to Transferees. 
 5.3 Representations and Warranties of Transferees. In order to induce Transferor to enter into this Agreement and to sell and assign the
Shares, each Transferee hereby makes, as of the date hereof and as of the Closing Date, the following representations and warranties to Transferor. 
 5.3.1 Organization, Power, Etc. Transferee is a limited liability company duly organized and validly existing and in good standing under the Laws of its jurisdiction of organization and has requisite corporate power and authority to
enter into and perform its obligations under this Agreement and all other Sale Documents executed by it in connection herewith. 
 5.3.2
Authorization and Binding Effect. The execution, delivery and performance of this Agreement and the Sale Documents to be executed by Transferee and the transactions contemplated hereby and thereby relating to Transferee have been duly
authorized by all necessary corporate action of Transferee. This Agreement and each other Sale Document to which Transferee is a party have been duly executed and delivered by Transferee, and, upon due authorization, execution and delivery by the
other parties hereto and thereto, this Agreement and the other Sale Documents to which Transferee is a party shall be the legal, valid and binding obligations of Transferee enforceable against Transferee in accordance with their respective terms,
except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar Laws affecting creditors’ rights generally or by equitable principles. 
  

 18 

 5.3.3 Litigation. There is no action, suit, proceeding or claim pending or, to the knowledge of
Transferee, threatened against Transferee, nor is there any investigation by any governmental agency pending or, to the knowledge of Transferee, threatened, in each case, with respect to the Shares, the Aircraft, the Leases, this Agreement or any
other Sale Document to which it is a party, which, if adversely determined, would have a material adverse effect on the ability of Transferee to perform its obligations under this Agreement or any other Sale Document to which it is a party.

 5.3.4 No Consent; No Violation. Neither the execution and delivery by Transferee of this Agreement and the other Sale Documents to
which Transferee is a party, nor the performance by Transferee of its obligations hereunder, (1) requires the consent or approval of, the giving of notice to, the registration or filing with or the taking of any action in respect of, any
federal or state governmental authority on the part of Transferee except such as have been duly obtained, given, made or taken, and except routine reporting or regulatory requirements with governmental authorities which do not affect the validity,
legality or enforceability of the transactions contemplated hereby, provided that no representation is made with respect to any consent, approval or registration, or action, under any Law of any jurisdiction relating to the Aircraft or the
ownership, use or operation thereof, or (2) violates any Law, rule or regulation binding on Transferee, or any order, writ, injunction or decree of any court or governmental agency or instrumentality binding on Transferee, or
(3) contravenes Transferee’s organizational documents, or (4) will result in any material breach of any of the terms or provisions of, or constitute a default under, any material agreement, document or instrument to which Transferee
is a party or by which it is bound. 
 5.3.5 Compliance. Transferee has complied with and satisfies all requirements of an assignee or
transferee of the Shares contained in the Relevant Documents to permit Transferor to transfer the Shares to Transferee. 
 Section 6.
Further Representations, Warranties and Covenants 
 6.1 Books and Records. Transferor has made or will make available to
each Transferee at the offices of the Company all of the Books and Records, and if at any time after the Closing Transferor discovers in its possession or under its control any other Books and Records, it will forthwith deliver such Books and
Records to Transferee. 
 Section 7. Taxes 
 Transferor shall pay all sales, use, transfer, recording, gains, stock transfer and other similar Taxes and fees (other than Irish stamp duty) (“Transfer Taxes”) arising out of or in connection with
the transactions effected pursuant to this Agreement and the other Sale Documents, and shall indemnify, defend, and hold harmless each Transferee Indemnitee and the Company on an after-Tax basis with respect to such Transfer Taxes. Transferor shall
file all necessary documentation and Tax Returns with respect to such Transfer Taxes. 
  

 19 

 Section 8. [RESERVED] 
 Section 9. Certain Reserved Rights. 
 Transferor hereby agrees to transfer to Transferees, in immediately available funds and as soon as practicable upon receipt thereof, any and all amounts paid by Lessee, including with respect to any Security Deposits (as defined in the
Leases) which Transferor has previously received or which Transferor may receive after the Closing Date. 
 Each party hereto agrees for the
benefit of the other that in the event it shall receive any written notice from Lessee, the Company or any other Person which relates to, or affects the rights or obligations of the other party under, the provisions of this section, such party
receiving such notice will promptly forward such notice to the other party; provided, however, that the failure to provide such notice shall not give rise to any liability to the party failing to give such notice. 
 Section 10. Indemnities 
 10.1
Transferor’s Indemnity. Subject to this Section 10, with respect to each Transferee, Transferor hereby covenants and agrees that it will pay and assume liability for, and indemnify, protect, defend, save and keep harmless
each Transferee Indemnitee, on an after-Tax basis, from and against (a) any and all liabilities, Taxes, fees, duties, charges, withholdings, obligations, losses, damages, settlements, claims, actions, suits, penalties, costs and expenses
(including, without limitation, reasonable fees and expenses of counsel) of whatsoever kind and nature (individually a “Loss” and collectively, “Losses”) which may at any time or from time to time be imposed upon,
incurred by or asserted against such Transferee Indemnitee in any way relating to, resulting from or arising out of (i) the Shares and any Relevant Documents in respect of or to the extent attributable to the period prior to the Closing Date,
(ii) any inaccuracy or breach of any representation or warranty made by Transferor under this Agreement or any Sale Document (other than in respect of clause (z) and clause (aa) of the Tax Warranties), (iii) any failure by Transferor
to have observed or performed any of its obligations under or in connection with this Agreement or any Sale Document, or (iv) the continuing existence after the Closing Date of any Liens attributable to Transferor or, to the knowledge of
Transferor, to the Company (excluding the Existing Financing); (b) any and all Losses which may arise in any manner out of or in relation to injury to or death of any Persons whomsoever or loss or damage to any property of any Person and which
may result from, or arise in any manner out of, or be attributable to (i) the condition, ownership, leasing, manufacture, purchase, delivery, possession, disposition, use or operation of the Aircraft either in the air or on the ground, in each
case prior to the Closing Date, or (ii) any defect in the Aircraft arising from its manufacture or any material or article used therein or from the design, testing or use thereof or from any maintenance, service, repair, overhaul or testing of
the Aircraft, in each case prior to the Closing Date; provided, however, that Transferor’s obligations under this clause (b) to any Transferee Indemnitee shall not extend to any Losses that are caused by the gross negligence
or willful misconduct of such Transferee Indemnitee; and provided further that in respect of this clause (b) Transferor shall be subrogated to all rights and remedies which the Transferee Indemnitees may have against the
manufacturers of the Aircraft; and (c) any Losses which may at any time or from time to time be imposed upon, incurred by or asserted against such Transferee Indemnitee in any way relating to, resulting from or arising out of clause 18 of the
Dresdner Loan Agreement. 
  

 20 

 10.2 Transferee’s Indemnity. Subject to this Section 10, and except as otherwise
provided in Section 7 hereof, each Transferee, on a joint and several basis, hereby covenants and agrees to pay and assume liability for, and indemnify, protect, defend, save and keep harmless, each Transferor Indemnitee, on an after-Tax basis,
from and against (a) any and all Losses (other than any income, franchise, doing business and similar Taxes imposed on a Transferor Indemnitee) which may at any time or from time to time be imposed upon, incurred by or asserted against any
Transferor Indemnitee in any way relating to, resulting from or arising out of (i) the Shares and any Relevant Documents in respect of or to the extent attributable to the period from and after the Closing Date, (ii) any inaccuracy or
breach of any representation or warranty made by such Transferee under this Agreement or any other agreement related to this transaction to which such Transferee is a party, or (iii) any failure by such Transferee to have observed or performed
any of its obligations under or in connection with this Agreement or any Sale Document; and (b) any and all Losses which may arise in any manner out of or in relation to injury to or death of any Persons whomsoever or loss or damage to any
property of any Person and which may result from, or arise in any manner out of, or be attributable to (i) the condition, ownership, leasing, manufacture, purchase, delivery, possession, disposition, use or operation of the Aircraft either in
the air or on the ground, in each case from and after the Closing Date, or (ii) any defect in the Aircraft arising from its manufacture or any material or article used therein or from the design, testing or use thereof or from any maintenance,
service, repair, overhaul or testing of the Aircraft, in each case from and after the Closing Date; provided, however, that such Transferee’s obligations under this clause (b) to any Transferor Indemnitee shall not extend to
any Losses that are caused by the gross negligence or willful misconduct of such Transferor Indemnitee; and provided further than in respect of this clause (b) such Transferee shall be subrogated to all rights and remedies which the
Transferor Indemnitees may have against the manufacturers of the Aircraft. 
 10.3 Tax Treatment of Indemnities. It is the
intention of the parties to treat any indemnity payment made under this Agreement as an adjustment to the relevant Purchase Amount for all Tax purposes to the extent permitted by Law, and the parties agree to file their Tax Returns accordingly.

 10.4 Notice of Claims; Determination. 
 10.4.1 
 Any Transferee Indemnitee or Transferor Indemnitee seeking indemnification hereunder (the “Indemnified
Party”) shall give promptly to the party obligated to provide indemnification to such Indemnified Party (the “Indemnitor”) a written notice (a “Claim Notice”) describing in reasonable detail the facts
giving rise to the claim for indemnification hereunder and shall include in such Claim Notice (if then known) the amount or the method of computation of the amount of such claim, and a reference to the provision of this Agreement or any other
agreement, document or instrument executed hereunder or in connection herewith upon which such claim is based; provided, however, that the failure of any Indemnified Party to give the Claim Notice promptly as required by this Section 10.4.1
shall not affect such Indemnified Party’s rights under this Section 10. 
  

 21 

 10.4.2 
 After the giving of any Claim Notice pursuant hereto, the amount of indemnification to which an Indemnified Party shall be entitled under this Section 10 shall be determined: (i) by the written agreement between the Indemnified
Party and the Indemnitor; (ii) by a final judgment or decree of any court of competent jurisdiction; or (iii) by any other means to which the Indemnified Party and the Indemnitor shall agree. The judgment or decree of a court shall be
deemed final when the time for appeal, if any, shall have expired and no appeal shall have been taken or when all appeals taken shall have been finally determined. The Indemnified Party shall have the burden of proof in establishing the amount of
Losses suffered by it. All amounts due to the Indemnified Party as so finally determined shall be paid by wire transfer within thirty (30) calendar days after such final determination. 
 10.5 Third Person Claims. 
 10.5.1 In
order for a party to be entitled to any indemnification provided for under this Agreement in respect of, arising out of or involving a claim or demand made by any third Person against the Indemnified Party, such Indemnified Party must notify the
Indemnitor in writing, and in reasonable detail, of the third Person claim promptly after receipt by such Indemnified Party of written notice of the third Person claim. Thereafter, the Indemnified Party shall deliver to the Indemnitor, within five
(5) calendar days after the Indemnified Party’s receipt thereof, copies of all notices and documents (including court papers) received by the Indemnified Party relating to the third Person claim. Notwithstanding the foregoing, should a
party be physically served with a complaint with regard to a third Person claim, the Indemnified Party must notify the Indemnitor with a copy of the complaint within five (5) calendar days after receipt thereof and shall deliver to the
Indemnitor within five (5) calendar days after the receipt of such complaint copies of notices and documents (including court papers) received by the Indemnified Party relating to the third Person claim (or in each case such earlier time as may
be necessary to enable the Indemnitor to respond to the court proceedings on a timely basis). 
 10.5.2 In the event of the initiation of any
legal proceeding against the Indemnified Party by a third Person, the Indemnitor shall have the sole and absolute right after the receipt of notice, at its option and at its own expense, to be represented by counsel of its choice and to control,
defend against, negotiate, settle or otherwise deal with any proceeding, claim, or demand which relates to any loss, liability or damage indemnified against hereunder; provided, however, that the Indemnified Party may participate in any such
proceeding with counsel of its choice and at its expense. The parties hereto agree to cooperate fully with each other in connection with the defense, negotiation or settlement of any such legal proceeding, claim or demand. Such cooperation shall
include the retention and the provision of records and information which is reasonably relevant to such third Person claim, and making employees available in a mutually convenient basis to provide additional information and explanation of any
material provided hereunder. To the extent the Indemnitor elects not to defend such proceeding, claim or demand, and the Indemnified Party defends against or otherwise deals with any such proceeding, claim or demand, the Indemnified Party may retain
counsel, at the expense of the 

  

 22 

 
Indemnitor, and control the defense of such proceeding. Neither the Indemnitor nor the Indemnified Party may settle any such proceeding, which settlement
obligates the other party to pay money, to perform obligations or to admit liability without the written consent of the other party, such consent not to be unreasonably withheld or delayed; provided that the consent of the Indemnified Party shall
not be required if the Indemnitor agrees in writing to pay any amounts payable pursuant to such settlement and such settlement includes a full and conditional release of the Indemnified Party. After any final judgment or award shall have been
rendered by a court, arbitration board or administrative agency of competent jurisdiction and the time in which to appeal therefrom has expired, or a settlement shall have been consummated, or the Indemnified Party and the Indemnitor shall arrive at
a mutually binding agreement with respect to each separate matter alleged to be indemnifiable by the Indemnitor hereunder, the Indemnified Party shall forward to the Indemnitor notice of any sums due and owing by it with respect to such matter and
the Indemnitor shall pay all of the sums so owing to the Indemnified Party by wire transfer within thirty (30) calendar days after the date of such notice. 
 10.5.3 This Clause 10.5 shall not apply to any claim for indemnification relating to a breach of the Tax Warranties. The provisions of Clause 4 of the Tax Deed shall apply instead. 
 10.6 Limitations. 
 10.6.1
Mitigation. Each of the parties agrees to take all reasonable steps to mitigate their respective Losses upon and after becoming aware of any event or condition which could reasonably be expected to give rise to any Losses that are
indemnifiable hereunder. 
 10.6.2 Subrogation. Upon making any payment to the Indemnified Party for any indemnification claim
pursuant to this Section 10, the Indemnitor shall be subrogated, to the extent of such payment, to any rights which the Indemnified Party may have against any third parties with respect to the subject matter underlying such indemnification
claim and the Indemnified Party shall assign any such rights to the Indemnitor. 
 Section 11. Tax Matters 
 11.1 Tax Filings. 
 (a) Transferor shall timely prepare and file (or cause to be so prepared and filed) all Tax Returns required by Law covering the Company for all taxable periods ending on or before the Closing Date
(“Pre-Closing Tax Returns”). Transferor shall prepare all Pre-Closing Tax Returns consistent with its prior practices and in accordance with the tax accruals on the books and records of the Company and will not amend any
Pre-Closing Tax Return without the written approval of each Transferee, which consent shall not be unreasonably withheld. Transferor shall timely pay all Taxes related to Pre-Closing Tax Returns (“Pre-Closing Taxes”). The
Transferees shall procure that the Company shall cause all Pre-Closing Tax Returns to be authorized, signed and submitted to the appropriate Revenue Authority with such amendments as the Transferees shall reasonably request. 
  

 23 

 (b) The Transferees shall prepare (or cause to be prepared) and file or cause to be filed
when due all Tax Returns that are required to be filed by or with respect to the Company after the Closing Date and shall remit any Taxes due in respect of such Tax Returns. With respect to Tax Returns that are required to be filed by or with
respect to the Company for any Tax Period that begins before and ends after the Closing Date (such periods “Straddle Periods” and such Tax Returns “Straddle Returns”), such Straddle Returns shall be prepared in a
manner consistent with past practice (unless otherwise required by Law), and the Transferor shall be responsible for Taxes due in respect of that portion of such Straddle Returns as ends on the Closing Date (“Straddle Pre-Closing
Taxes”), calculated as provided in the next paragraph. The Transferees shall notify Transferor of any amounts due from Transferor in respect of any Straddle Return no later than ten (10) Business Days prior to the date on which such
Straddle Return is due, and Transferor shall remit such payment to the Transferees no later than five (5) Business Days prior to the date such Straddle Return is due. The Transferees shall deliver any Straddle Return to the Transferor for its
review at least thirty (30) days prior to the date on which such Tax Return is required to be filed. If Transferor disputes any item on such Tax Return, it shall notify the Transferees no later than ten (10) days from receipt of such Tax
Return of such disputed item (or items) and the basis for its objection and the Transferees shall consider such objections in good faith. The parties shall act in good faith to resolve any such dispute prior to the date on which the relevant Tax
Return is required to be filed. If the parties cannot resolve any disputed item, the item in question shall be resolved by an independent accounting firm mutually acceptable to Transferor and Transferees. The fees and expenses of such accounting
firm shall be borne equally by Transferor and Transferees. 
 (c) In the case of any Taxes of the Company that are payable
with respect to Straddle Periods, the portion of any such Taxes that are attributable to the portion of the Straddle Period that ends on the Closing Date shall (i) in the case of Taxes that are based upon or related to income or receipts or
imposed on a transactional basis be deemed equal to the amount that would be payable if the Tax year or period ended on the Closing Date; and (ii) in the case of other Taxes be allocated pro rata per day between the period ending on the Closing
Date and the period beginning after the Closing Date. For purposes of clause (i) of the preceding sentence, any exemption, deduction, credit or other item that is calculated on an annual basis shall be allocated pro rate per day between the
period ending on the Closing Date and the period beginning after the Closing Date. 
 11.2 Tax Cooperation. After the Closing
Date, the parties will cooperate with each other in the preparation of all Tax Returns and will provide (or cause to be provided) any records and other information requested by the party preparing the applicable Tax Return, and will provide access
to, and the cooperation of its respective auditors. The parties will cooperate with each other in connection with any Tax investigation, audit or other proceeding. Nothing in this Clause 11 will oblige the Company or the Transferees to procure that
the Company submit a Pre-Closing Tax Return that is not complete, true and accurate in all material respects. 
  

 24 

 Section 12. Total Loss. 
 In the event of a Total Loss with respect to any of the Aircraft prior to the Closing Date, this Agreement shall terminate automatically and Transferor
shall immediately return the Deposit to the Transferees. 
 Section 13. Notices. 
 Any notice required or permitted under this Agreement or any other Sale Document shall be in writing. Notices under this Agreement or any other Sale
Document shall be delivered in person or by air courier, or shall be sent by telefacsimile, addressed to the intended recipient as set forth in Schedule 1 hereto. Notice shall be deemed effective upon actual receipt. 
 Section 14. Miscellaneous. 
 14.1 Binding Effect. This Agreement shall inure to the benefit of and be binding upon each of the parties hereto and their respective successors and permitted assigns. 
 14.2 Transaction Costs and Expenses. Whether or not the transactions contemplated hereby are consummated, each of the parties hereto shall
bear and be responsible for its own costs and expenses incurred in connection with the negotiation, preparation, execution and delivery of the Sale Documents, and any other agreements, documents and instruments relating hereto, and no such party
shall have any right of reimbursement or indemnity for such costs and expenses as against any other party; provided that Transferor shall pay any costs and expenses of Lessee and DGAC counsel in connection with the transactions contemplated by this
Agreement and the other Sale Documents. 
 14.3 Entire Agreement. This Agreement constitutes, on and as of the date hereof, the
entire agreement of the parties hereto with respect to the subject matter hereof, and all prior or contemporaneous understandings or agreements, whether written or oral, between the parties hereto with respect to the subject matter hereof are hereby
superseded in their entirety. 
 14.4 Amendments. No provision of any Sale Document may be amended, changed, waived or
discharged orally, but only by an instrument in writing specifying the provision intended to be amended, changed, waived or discharged and signed by the party against whom enforcement of such amendment, change, waiver or discharge is sought and no
provision of any Sale Document shall be varied, contradicted or explained by any oral agreement, course of dealing or performance or any other matter not set forth in an agreement in writing and signed by the party against whom enforcement of such
agreement is sought. 
 14.5 Assignment. Neither party may assign any of its rights or delegate any of its obligations
hereunder without the prior written consent of the other party; provided, however, that on or after the Closing Date, any Transferee and/or any of its assigns may assign its rights under this agreement without consent of Transferor.

 14.6 Headings and References. The division of this Agreement into Articles and Sections, and the insertion of headings, are
for convenience of reference only and shall not affect the construction or interpretation of this Agreement. 
  

 25 

 14.7 Counterparts. This Agreement may be executed in any number of separate counterparts by
each of the parties hereto, all such counterparts together constituting but one and the same instrument. Copies of this Agreement and the documents to be delivered hereunder, if transmitted by facsimile, shall be deemed to be and treated the same as
executed originals; provided that the original of any document delivered by facsimile transmission shall, upon request, also be delivered by mail or private delivery service. 
 14.8 Non-Waiver. Any failure at any time of either party to enforce any provision of any Sale Document shall not constitute a waiver of
such provision or prejudice the right of such party to enforce such provision at any subsequent time. 
 14.9 Survival. The
representations, warranties and indemnities herein of each party hereto shall survive the execution and delivery of, and the consummation of the transactions contemplated by, this Agreement until the later of (a) the date on which the
applicable statute of limitations period for the representations, warranties and indemnities contained in Section 5.2 hereof and in the Tax Deed expires; and (b) the date which is one year after the Expiry Date of the Leases, including any
Extension Periods (as such terms are defined in the Leases); provided that the representations and warranties contained in Sections 5.1.2 and 5.1.6 hereof and indemnities related thereto shall survive indefinitely; provided further
that any representation, warranty, or indemnity that would otherwise terminate in accordance with clause (a) or (b), above will continue to survive if a Claim Notice shall have been timely given under Section 10 on or prior to such
termination date, until the related claim for indemnification has been satisfied or otherwise resolved as provided in Section 10. 
 14.10 Invalid Provisions. If any provision of any Sale Document is or becomes void or unenforceable by force or operation of Law, the other provisions shall remain valid and enforceable, but if such provision being void or
unenforceable shall affect the substance of the bargain between the parties, the parties shall negotiate in good faith to modify this Agreement so as to affect the original intent of the parties as closely as possible. 
 14.11 Currency. All prices, amounts and payments referred to herein shall be in United States Dollars. 
 14.12 Brokers. Each party agrees to indemnify and hold the other parties harmless from and against any and all claims, suits, damages,
costs and expenses (including, but not limited to, reasonable attorneys’ fees) asserted by agents, brokers or other third parties, representing or allegedly representing such party, for any commission or compensation of any nature whatsoever
based upon the sale or transfer between Transferor and Transferees of the Shares hereunder. 
 14.13 Governing Law. Each Sale
Document (except for the Tax Deed) shall in all respects, including all matters of construction, validity and performance, be governed by, and construed and enforced in accordance with, the Laws of the State of New York, as would be applicable to
contracts entered into in that state between citizens of that state and to be performed wholly within that state, without reference to any rules governing conflicts of Laws. The parties consent to service of process by mail courier or hand delivery,
at the addresses set forth in Schedule 1 hereto or such other address as notified by a party to the other from time to time pursuant to Section 13 hereto. 
  

 26 

 14.14 Consent to Jurisdiction. In connection with any matter arising out of the Sale
Documents, each of the parties hereto hereby expressly submits to the non-exclusive jurisdiction of the United States District Court for the Southern District of New York and to the Supreme Court of the State of New York located in the Borough of
Manhattan, New York County, New York. Final judgment against any party hereto in any suit, action or proceeding so brought in such courts shall be conclusive and may be enforced in any other jurisdiction by suit on the judgment or as otherwise
permitted by applicable Law, a certified or true copy of which shall be conclusive evidence of the facts and of the amount of any indebtedness or liability of such party. 
 Each of the parties hereto hereby irrevocably waives any objection which it may now or hereafter have to the laying of venue in any suit, action or proceeding brought in any court located in the Borough of Manhattan,
New York County, New York, and irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in any inconvenient forum. Each party agrees that service of process may be made by personal service of a
copy of the summons and complaint or other legal process in any such suit, action or proceeding, or by registered or certified mail (postage prepaid) to the address of such party provided in Schedule 1 hereto, or by any other method of service
provided for under the applicable Laws in effect in the State of New York. 
 [This space intentionally left blank.] 
  

 27 

 The parties have caused this Agreement to be duly executed and delivered by their respective duly
authorized officers as of the day and year first above written. 
  

			
	AJG CAPITAL, INC.,
	as Transferor
		
	By:	 	 \s\ David R. Long

	Name:	 	David R. Long
	Title:	 	Vice President
	
	AVIACARGO 27125/27347, LLC,
	as Transferee
		
	By:	 	 \s\ Wayne D. Lippman

	Name:	 	Wayne D. Lippman
	Title:	 	Manager
	
	ERSTE FINANCE MALTA LIMITED,
	as Transferee
		
	By:	 	 \s\ Martin Sadleder

	Name:	 	Martin Sadleder
	Title:	 	Director
		
	By:	 	 \s\ Peter Muscat

	Name:	 	Peter Muskat
	Title:	 	Director

  

 28 

 SCHEDULE 1 
 NOTICE DETAILS 
 Transferor: 
 AJG Capital, Inc. 
 c/o Arthur J. Gallagher & Co. 
 Gallagher Center 
 Two Pierce Place, 23rd Floor 
 Itasca, IL 60143 
 Attn: David
R. Long, Vice President 
 Fax: 630-285-4272 
 Transferee:

 Aviacargo 27125/27347, LLC 
 c/o Automatic LLC 
 2665 South Bayshore Drive, Suite 1006 
 Coconut Grove, FL 33131 
 Attn: Manager 
 Fax: 305-858-7757 
 Transferee: 
 Erste Finance Malta Limited 
 c/o Erste Bank (Malta) Ltd 
 72 Regent House 
 Bisazza Street 
 SLM 15 
 Malta 
 Attn: Martin Sadleder 
 Fax: 356 347 151 

 SCHEDULE 5.1.10 
 Relevant Documents 
 Loan Agreement, dated April 7, 2000, between Company, as borrower, the banks
and financial institutions named therein as Banks, and Dresdner Kleinwort Wasserstein Limited, as agent, as amended, supplemented or otherwise modified from time to time. 
 Aircraft Lease Agreement, dated April 6, 2000, as amended and restated on December 21, 2005, in respect of the Aircraft bearing manufacturer’s serial number 27125 between the Company, as lessor,
and Europe Airpost S.A., as amended, supplemented or otherwise modified from time to time 
 Aircraft Lease Agreement, dated April 6, 2000, as
amended and restated on December 21, 2005, in respect of the Aircraft bearing manufacturer’s serial number 27347, between the Company, as lessor, and Europe Airpost S.A., as amended, supplemented or otherwise modified from time to time.

 SCHEDULE 5.1.13 
 Financial Statements 
 None 

 SCHEDULE 5.1.15 
 Undisclosed Liabilities 
 None 

 SCHEDULE 5.1.16 
 Licenses 
 None 

 SCHEDULE 5.1.19 
 Powers of Attorney 
 None 
  

 2 

 EXHIBIT A 
 FORM OF LESSEE CONSENT 
 LESSEE CONSENT [MSN 27347] 
 THIS LESSEE CONSENT [MSN 27347] dated as of January     , 2007 (this “Agreement”) is among ERSTE BANK DER
OESTERREICHISCHEN SPARKASSEN AG, LONDON BRANCH, a bank organized under the laws of Austria acting through its London Branch, as Administrative Agent on behalf of the Lenders (together with its successors in such capacity, the
“Agent”), AVIACARGO LEASING LIMITED, an Irish company limited by shares (the “Lessor”), and EUROPE AIRPOST S.A., a French société anonyme (the “Lessee”). 
 W I T N E S S E T H: 
 WHEREAS, pursuant to
the Share Purchase Agreement dated as of January     , 2007 by and between AVIACARGO 27125/27347, LLC and ERSTE FINANCE MALTA LIMITED, as transferees (each, a “Transferee”, and, collectively, the
“Transferees”), and AJG Capital, Inc., as transferor, the Transferees own all of the outstanding shares of the Lessor; 
 WHEREAS, the Lessor and the Lessee are parties to the Aircraft Lease Agreement dated April 6, 2000, as amended on May 23, 2002 and amended and restated on December 21, 2005 (the “Lease”) in respect of one
Boeing model 737-300F aircraft bearing manufacturer’s serial number 27347 (the “Aircraft”), together with two CFM International Inc. CFM56-3C-1 aircraft engines with manufacturer’s serial numbers 857685 and 857686 (each an
“Engine” and collectively, the “Engines”); 
 WHEREAS, pursuant to the Mortgage and Security Agreement
[27125 and 27347] dated as of the date hereof executed by the Lessor in favor of the Agent (the “Mortgage”) and the Loan Agreement, dated as of even date herewith among the Lessor, the lenders listed therein (the
“Lenders”) and the Agent (the “Loan Agreement”), the Lenders have extended credit to the Lessor to enable it to refinance existing indebtedness in connection with the Aircraft, and the Lessor has granted to the
Agent, on behalf of the Lenders, a security interest in and lien on the Aircraft and the Lessor has assigned to the Agent, on behalf of the Lenders, its rights under the Lease, in each case in order to secure its obligations to the Agent and the
Lenders. The Loan Agreement, Mortgage and the other loan documents executed in connection therewith are hereafter the “Loan Documents”; 
  

 3 

 WHEREAS, it is a condition to the Loan Documents that the parties hereto enter into this Agreement.

 NOW, THEREFORE, the parties confirm and agree as follows: 
 1. Notice of Security Interest. The Lessor hereby notifies the Lessee that pursuant to the Loan Documents, the Lessor has assigned to the Agent, on behalf of the Lenders, all of its right, title and interest in
and to the Aircraft and all of its rights as lessor under the Lease, as collateral security for the obligations described in the Loan Documents. In accordance with such assignment, the Agent is entitled to exercise all rights, remedies, powers and
privileges of lessor under the Lease; however, the Lessee may conclusively rely on notices and instructions received from the Lessor unless and until the Agent notifies the Lessee in writing to the contrary. The Lessee hereby consents to the
security interests on the Lessor’s interest in the Aircraft and the Lease which is created by the Mortgage. The Lessee agrees that neither the Agent nor its successors or assigns shall be liable for any obligations or duties of
“Lessor” under the Lease or any other document by its execution of this Agreement or the Loan Documents, nor shall the assignment of the Lease to the Agent pursuant to the Loan Documents give rise to any duties or obligations on the part
of the Agent or its successors or assigns owing to the Lessee, except as expressly contemplated in this Agreement. Notwithstanding the assignment of the Lease to the Agent pursuant to the Loan Documents, the Lessor agrees that it shall at all times
remain obligated to perform all obligations of “Lessor” under the Lease. For the avoidance of doubt, the parties confirm and agree that the “Agent” for all purposes of this Agreement shall be Erste Bank der oesterreichischen
Sparkassen AG, London Branch, and that Dresdner Kleinwort Wasserstein Limited shall have no further interest in the Lease. 
 2.
Lessee’s Rights. The Agent and the Lessor agree that, except as expressly contemplated herein, nothing contained herein or in any Loan Document constitutes a modification or waiver of any of the Lessee’s rights under the Lease, and
in connection therewith but in no manner in limitation of the generality thereof, nothing in this Agreement shall be deemed or construed to impose upon the Lessee any obligation to make any payments under the Lease in excess of the amounts provided
therein or to incur any incremental burden, risk or expense not contemplated thereby. 
 3. Payments. The Lessor hereby notifies the
Lessee that, effective on the date hereof, (a) all payments of “Rent” and other payments (other than the “Security Deposit”) under the Lease due on or after the date hereof shall be paid by wire transfer to the Agent at:
Bank of America NT & SA, CHIPS 959, ABA No.: 026009593, SWIFT Code: B0FAUS3N, for further credit to Erste Bank der oesterreichischen Sparkassen AG, London Branch, SWIFT Code: GIBAGB2X, Account No.: 6550-1-60881, Reference: EAP 27347 Rent,
and (b) all payments in respect of the Security Deposit under the Lease due on or after the date hereof shall be paid by wire transfer to the Agent at: Bank of America NT & SA, CHIPS 959, ABA No.: 026009593, SWIFT Code: B0FAUS3N, for
further credit to Erste Bank der oesterreichischen Sparkassen 

  

 4 

 
AG, London Branch, SWIFT Code: GIBAGB2X, Account No.: 6550-1-60881, Reference: Aviacargo Security Deposit (or, in either case, such other financial
institution as the Agent shall direct the Lessee in writing). The Lessee agrees that it will make all such payments to such account(s) in accordance with the Lease. 
 4. Quiet Enjoyment. Notwithstanding any provisions herein or in the Loan Documents to the contrary, each of the Lessor and the Agent confirms to and agrees with the Lessee that so long as no Termination Event
(as defined in the Lease) has occurred and is continuing, neither the Lessor nor the Agent will interfere, or permit any Person acting by, through or under it to disturb the quiet use, possession and enjoyment of the Aircraft by the Lessee in
accordance with the Lease. 
 5. Representations and Warranties of the Lessee. The Lessee hereby represents and warrants on and as of
the date hereof that: 
 (a) the Lease, as amended, constitutes the entire agreement between the Lessee and the Lessor with respect to the
Aircraft (including the Engines) and has not been amended, modified, supplemented or assigned and the Lease is in full force and effect as to the Lessee; 
 (b) no amounts may currently be offset by the Lessee from Rent due under the Lease and there have been no prepayments by the Lessee of Rent under the Lease; 
 (c) no default, Termination Event or Total Loss (in each case as defined in the Lease) under the Lease has occurred and is continuing; 
 (d) all of the representations and warranties of the Lessee set forth in Clause 2 of the Lease are true and correct as of the date hereof; and

 (e) no original copy of the Lease has been designated as the “chattel paper original” and the Lessee does not possess an
original copy of the Lease. 
  

 5 

 6. Insurance. The Lessor hereby directs the Lessee to designate the Agent as sole loss payee under
the hull insurance policies required to be maintained under Clause 16 of the Lease. With respect to all liability insurance policies required pursuant to Clause 16 of the Lease, the Lessor hereby directs and the Lessee hereby agrees to cause the
Lenders, the Agent, the Transferees, and each of their respective affiliates, officers, directors, employees and agents, to be named as additional insureds thereunder. The Lessee shall cause all insurance certificates and reports required to be
delivered pursuant to Clause 16 of the Lease to be addressed and delivered to the Agent in addition to the Lessor. 
 7.
Indemnification. The Lessee hereby confirms and agrees that the Lenders, the Agent, the Transferees, and each of their respective directors, officers, employees, servants, agents, shareholders and controlling persons and successors and
assigns constitute “Indemnitees” (as such term is defined in the Lease) and are entitled to all rights and privileges of indemnification owed by the Lessee to the Lessor. 
 8. Insignia. The Lessee hereby agrees and undertakes promptly to replace all nameplates referenced under Clause 13.1.8 of the Lease with such
nameplates which shall bear the following inscription: 
 “THIS [AIRFRAME/ENGINE] IS OWNED BY AVIACARGO LEASING LIMITED
AND SUBJECT TO A MORTGAGE IN FAVOR OF ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG, LONDON BRANCH, AS ADMINISTRATIVE AGENT FOR THE LENDERS” 
 9. Letter of Credit. Notwithstanding any provision in the Lease to the contrary, Lessee agrees that no later than January 25, 2007 it will cause a Letter of Credit to be issued in the name of the Agent by HSBC Bank, Paris
Branch. If, thereafter, the Lessee elects to replace such Letter of Credit with a new Letter of Credit, then the Lessee hereby agrees to issue such Letter of Credit in the name of the Agent from a bank acceptable to the Agent. 
 10. Notices. Except as may otherwise be specified in this Agreement, all communications hereunder and under the Lease will be deemed sufficient if
in writing and personally delivered, or sent via registered mail, postage prepaid, or sent by reputable overnight courier, or sent by facsimile, addressed: 
  

 6 

 If to the Lessee: 
 Europe Airpost S.A. 
 Bâtiment Le Raphaël 
 22 avenue des Nations (Villepinte) 
 BP 49015

 95911 ROISSY CDG CEDEX 
 Attention: M. Maurice Serinet 
 Facsimile: +33 1 48 17 75 65 
 If to the Lessor: 
 Aviacargo Leasing
Limited 
 c/o Matsack Trust Limited 
 30 Herbert Street 
 Dublin 2 
 Ireland 
 Attention: Company Secretary 
 Facsimile: +365 1 619 9010 
 With a copy to: 
 DLA Piper US LLP 
 203 North LaSalle Street,
Suite 1900 
 Chicago, Illnois 60601 
 United States 
 Attention: Stephen A. Landsman, Esq. 
 Facsimile: +011 312 630 6330 
  

 7 

 If to the Agent: 
 Erste Bank der oesterreichischen Sparkassen AG, London Branch 
 68 Cornhill 
 London EC3V 3QE 
 England 
 Attention: Stewart Tanner 
 Facsimile: (44
207) 283-7142 
 or such other address as may hereafter be furnished in writing in accordance with the terms hereof by any party to all other parties.

 11. Miscellaneous. This Agreement shall be binding upon and enforceable against the parties hereto and their successors and
permitted assigns. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAWS.
This Agreement may be executed in one or more counterparts, including facsimile transmittals, each of which shall be deemed an original and all of which, when taken together, shall constitute one and the same document. EACH PARTY HERETO HEREBY
WAIVES THE RIGHT TO TRIAL BY JURY IN ANY SUIT, ACTION OR OTHER PROCEEDING AMONG OR BETWEEN ANY OF THE PARTIES HERETO. The parties hereto consent to the non-exclusive jurisdiction of each of the any state or federal court located in New York, New
York with respect to all matters arising out of this Agreement. The parties hereto hereby expressly submit and consent in advance to such jurisdiction and venue in any action or proceeding commenced by any of them in any of such courts and agree
that jurisdiction and venue is proper in such courts. This Agreement constitutes the entire agreement and supersedes all prior agreements and undertakings among the parties with respect to the subject matter hereof. No term or provision of this
Agreement may be changed or waived orally, but only by an instrument in writing signed by the parties intended to be bound thereby. 
 12.
Counterparts. This Agreement may be executed in counterparts, each of which shall constitute an original and all of which, when taken together, shall constitute one and the same Agreement. A facsimile transmitted signature to this Agreement
shall be deemed an acceptable written approval of an executing party hereto. 
 *    *    * 
  

 8 

 IN WITNESS WHEREOF, the parties have executed and delivered this Lessee Consent [MSN 27347] by their
respective officers or attorneys as of the date first above written. 
  

									
	WITNESS:	 	 	 	 ERSTE BANK DER
 OESTERREICHISCHEN
SPARKASSEN
 AG, LONDON BRANCH,
 as Administrative
Agent

					
	By:	 	  
	 		 	By:	 	  

	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	
				
	By:	 	  
	 		 	EUROPE AIRPOST S.A.
	Name:	 		 		 	as Lessee
	Title:	 		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	
				
	By:	 	  
	 		 	AVIACARGO LEASING LIMITED,
	Name:	 		 		 	as Lessor
	Title:	 		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	Attorney In Fact

  

 9Purchase Order

 PURCHASE REQUISITION/PURCHASE ORDER 
  

																				
	

	 	Buyer / Bill To:	  		 		  		 	Requisition No.	 	 	 	Date
	 	 	 Cheniere Creole Trail Pipeline, LP
 717 Texas Avenue, Suite 300
  
 Houston, TX 77002
 Phone: 713-659-1361
 Fax:     713-659-5459
  
 Attention: Al Bartz
	  		 		  		 	CTP-CWC-001	 	 	 	1/18/2007
	 	 		 	  		 		  		 			 		 
	 	 		 	  		 	Requisition
Approval	  	Signature	 	 	 	Date
	 	 		 	  		 	 Requested By  	  	  	 	  	 	  	  	  	 	  	  
	 	 		 	  		 	1st Approval	  	  	 	  	 	  	  	  	 	  	  
	Date:	 	1/18/07	 		  		 	2nd Approval	  	  	 	  	 	  	  	  	 	  	  
	 	 		 		  		 		  		 		 				 		 
	Seller:	 	The Bayou Companies, LLC	  		 		  		 		 				 		 
	 	 	5200 Curtis Lane	  		 	Purchase Order
No.	  	  	  	 	  	  
	 	 	New Iberia, Louisiana 70560	  		 	  	PO Approval Signature	 	 	 	Date
	 	 	Attn: Mr. Danny Hebert, (337) 369-3761 telephone; (337) 365-9747 fax	  		 	  	  	/s/ R. Keith Teague	 	 	 	1-29-07
	Project:	 	Cheniere Creole Trail Pipeline, L.P.	  		 	  	  	Seller Acceptance Signature	 	 	 	Date
	Subject:	 	Concrete Weight Coating - Segment 1, Segment 2 and Spread 3A	  		 	  	  	/s/ D.A. Hebert	 	 	 	1-29-07
	 	 		 		  		 		 				 		 
	 Item No. 
	 	Description	 	Ship Date Deadline	  	Qty	 	  Unit    	 	 
 	Base Unit
Price	 
 	 	 
 	Extended
Price
	1	 	Pre-production purchase of raw materials (iron ore, portland cement, aggregate, etc.)	 	n/a	  	1	 	LS	 	$	2,000,000.00	  	 	$	2,000,000.00
	2	 	CT Segment 1 - Continuous concrete coating; 5.5" thick, 24" cut back (-0"/+2" tolerance); 190 lb/cft density, 3,500 psi compressive
strength; 42" OD x 0.617" WT pipe, 36' average joint length	 	Various	  	81,600	 	LF	 	$	87.06	 	 	$	7,104,096.00
	3	 	CT Segment 1 - Continuous concrete coating; 5" thick, 24" cut back (-0"/+2" tolerance); 190 lb/cft density, 3,500 psi compressive strength;
42" OD x 0.720" WT pipe, 36' average joint length	 	Various	  	8,846	 	LF	 	$	81.86	 	 	$	724,133.56
	4	 	CT Segment 1 - Continuous concrete coating; 5" thick, 24" cut back (-0"/+2" tolerance); 190 lb/cft density, 3,500 psi compressive strength;
42" OD x 0.888" WT pipe, 36' average joint length	 	Various	  	1,188	 	LF	 	$	81.86	 	 	$	97,249.68
	5	 	CT Segment 2 - Continuous concrete coating; 5.5" thick, 24" cut back (-0"/+2" tolerance); 190 lb/cft density, 3,500 psi compressive
strength; 42" OD x 0.600" WT pipe, 36' average joint length	 	Various	  	104,881	 	LF	 	$	87.06	 	 	$	9,130,939.86
	6	 	CT Segment 2 - Continuous concrete coating; 5" thick, 24" cut back (-0"/+2" tolerance); 190 lb/cft density, 3,500 psi compressive strength;
42" OD x 0.720" WT pipe, 36' average joint length	 	Various	  	9,721	 	LF	 	$	81.86	 	 	$	795,761.06
	7	 	CT Segment 2 - Continuous concrete coating; 5" thick, 24" cut back (-0"/+2" tolerance); 190 lb/cft density, 3,500 psi compressive strength;
42" OD x 0.864" WT pipe, 36' average joint length	 	Various	  	80	 	LF	 	$	81.86	 	 	$	6,548.80
	8	 	CT Segment 3A - Continuous concrete coating; 5.5" thick, 24" cut back (-0"/+2" tolerance); 190 lb/cft density, 3,500 psi compressive
strength; 42" OD x 0.600" WT pipe, 36' average joint length	 	Various	  	7,919	 	LF	 	$	87.06	 	 	$	689,428.14
	9	 	CT Segment 3A - Continuous concrete coating; 5" thick, 24" cut back (-0"/+2" tolerance); 190 lb/cft density, 3,500 psi compressive
strength; 42" OD x 0.720" WT pipe, 36' average joint length	 	Various	  	14,622	 	LF	 	$	81.86	 	 	$	1,196,956.92
	10  	 	Loadout of concrete coated pipe to deck barges during normal working hours ($ / linear foot)	 	Various	  	 228,857  	 	LF	 	$	2.25	 	 	$	514,928.25
	  	 	  	 	  	  	  	 	GRAND TOTAL	 	 	$	22,260,042.27

  

 Page 1 of 4 

			
	 Date    1/18/07
	  	Purchase Order No. CTP-CWC-001

  

													
		
		 	Notes to Seller
			
		 	 1
	  	Seller shall furnish labor, equipment and materials to externally coat Buyer's line pipe with concrete weight coating at Seller's Port of New Iberia facility.
			
		 	 2
	  	Buyer's Standard Terms and Conditions shall apply to this Purchase Order and are attached and incorporated herein by reference.
			
		 	 3
	  	Concrete weight coating shall be applied in accordance with the following specifications which are incorporated into this Purchase Order by reference:
		 		  	        a)  Cheniere/Willbros Engineers, Inc. "Specification for Continuous Concrete Coatings for Line Pipe, 51520-P-051", Rev
#0, dated 06/12/06
		 		  	        b)  Bayou's Comments to Specifications, dated 11/2706
			
		 	 4
	  	Estimated production schedule below is based upon using two (2) CWC plants:
	  	 	 	  	 Production
Week
	    	 Beginning Date
	    	 Target Weekly Production Footage
	    	 Cumulative Production Footage
	  	 
		 		  	  1	    	3/19/2007	    	  8,000	    	    8,000	  	
		 		  	  2	    	3/26/2007	    	10,000	    	  18,000	  	
		 		  	  3	    	4/2/2007	    	12,500	    	  30,500	  	
		 		  	  4	    	4/9/2007	    	12,500	    	  43,000	  	
		 		  	  5	    	4/16/2007	    	12,500	    	  55,500	  	
		 		  	  6	    	4/23/2007	    	12,500	    	  68,000	  	
		 		  	  7	    	4/30/2007	    	12,500	    	  80,500	  	
		 		  	  8	    	5/7/2007	    	12,500	    	  93,000	  	
		 		  	  9	    	5/14/2007	    	13,000	    	106,000	  	
		 		  	10	    	5/21/2007	    	12,457	    	118,457	  	
		 		  	11	    	5/28/2007	    	13,800	    	132,257	  	
		 		  	12	    	6/4/2007	    	13,800	    	146,057	  	
		 		  	13	    	6/11/2007	    	13,800	    	159,857	  	
		 		  	14	    	6/18/2007	    	13,800	    	173,657	  	
		 		  	15	    	6/25/2007	    	13,800	    	187,457	  	
		 		  	16	    	7/2/2007	    	13,800	    	201,257	  	
		 		  	17	    	7/9/2007	    	13,800	    	215,057	  	
		 		  	18	    	7/16/2007	    	13,800	    	228,857	  	

  

									
		 		  	This estimated production schedule is dependent upon timely receipt of Buyer furnished pipe.
			
		 	 5
	  	Production schedule and pricing is based upon continuous application of one concrete thickness (either 5" or 5.5") until completion of that requirement. If additional workscope is
advised after completion of any particular concrete thickness, or necessitated by untimely receipt of Buyer furnished pipe, Buyer shall be responsible for additional plant set-up costs.
			
		 	 6
	  	Prices include 90 days free storage of concrete weight coated pipe at Seller's Port of New Iberia facility.
			
		 	 7
	  	Seller shall invoice Buyer according to the following payment schedule and terms:
					
		 		  		  	a)  Payment 1 -	 	Seller shall invoice for Item No. 1 10 days following issuance of approved Purchase Order; payable within 5 days of Buyer’s receipt of invoice.
					
		 		  		  	b)  Subsequent Payments -	 	Seller shall invoice for earned value progress payments on Item Nos. 2 through 10 on a weekly basis for coating services completed the previous week and upon submission to Buyer of the tally
list of footage completed.
				
		 		  		  	c)  Buyer shall make payments of all undisputed amounts via wire transfer within thirty (30) days from receipt of an invoice submitted in accordance with this Purchase
Order including all documentation supporting provision of the goods and services. Buyer shall be allowed a 1% discount on invoices paid within 10 days of Buyer's receipt of invoice.
				
		 		  		  	e)  All unit pricing, invoicing and payment shall be in U.S. dollars.
			
		 	 8
	  	Seller's concrete coating prices for Items 2 through 9 include receipt, unloading and handling of coated pipe furnished by Buyer, including that arriving coated via barge as well as
coated pipe ex-works from the Bayou Companies' fusion bond epoxy plant. Seller shall invoice for loadout of concrete coated pipe onto barges furnished by Buyer and/or Buyer's Lay Contractor in accordance with Item No. 10; provided however that barge
preparation, dunnage and strapping is Buyer's and/or Buyer's Lay Contractor's responsibility. Seller is responsible for repair of coating damage resulting from this pipe movement and handling.

  

  

 Page 2 of 4 

			
	 Date    1/18/07
	  	Purchase Order No. CTP-CWC-001

  

					
	 Notes to Seller (continued)
  

			
		 	  9	  	Any movement and handling of pipe requested by Buyer in addition to that described in Note 8 shall be at Buyer's expense in accordance with the charges for extra services described in Note
11. Such additional movement requests include handling in and out of inspection units, and movement of pipe from rack to rack within the yard. Any coating damage resulting from such additional Buyer requested pipe movement and handling shall be
repaired by Seller at Buyer's discretion and expense.
			
		 	10	  	Buyer shall be responsible for any cost related to removal or disposal of dunnage or debris from Buyer's barges, and any cost related to disposal of discarded endcaps or bevel
protectors.
			
		 	11	  	Any modification to this Purchase Order shall be in accordance with Article 3 of the Terms and Conditions. Seller's schedule of charges for extra services not included in this Purchase Order
pricing is as follows:

  

			
	Storage Charges - Pipe may be stored free for 90 days after concrete weight coating. After 90 days, additional storage charges shall apply as listed below. These storage
charges will increase by 25% for each subsequent year of storage. Buyer shall be liable for pipe movement and handling cost if Seller must relocate pipe to a remote yard. A minimum of $250 per quarter shall apply.
		
	 After 90 days
	  	$4.00 per ton of pipe stored, per quarter
	 Returned pipe
	  	$5.00 per ton of pipe stored, per quarter
		
	Handling Charges -	  	
		
	 Load/Unload Truck
	  	$6.00 per ton
	 Handle Pipe in yard
	  	$7.50 per ton
	 Load/Unload Barge*
	  	$7.50 per ton
	 Unload Rail
	  	$7.50 per ton
	 Handle Reject Pipe
	  	$7.50 per ton
	 Minimum Movement Charge
	  	$50 per lot
	
	 * Rate applies to scheduled barge loadouts with 48 hour notice. In the event that Buyer schedules a barge loadout and the barge(s) is not available for
loading at the scheduled time, Buyer shall be responsible for cost of crew and equipment at Seller's hourly rates (4 hour minimum). If cranes are mobilized on a remote storage site based on Buyer's advisement of the loadout schedule, and loadout is
subsequently delayed by Buyer, Buyer shall be responsible for crane rental rates during the period of delay.

		
	 Dunnage and Materials -
	  	
		
	 Barge dunnage, 2"x4"
	  	$3.00 each
	 Barge dunnage, 4" x4"
	  	$4.50 each
	 Disposal of dunnage/debris
	  	$500 per dumpster load
	 Straps*
	  	$250 each
	
	 *Seller's provision of strap/strapping services for load out onto barges shall be at request of Buyer and/or Buyer's Contractor. This extra service
shall be performed under Buyer's supervision and at Buyer's cost. Seller assumes no responsibility for load once it leaves the dock.

  

					
	Hourly Labor & Equipment Rates -
		 	NORMAL HOURS	    	WEEKENDS, OVERTIME & HOLIDAYS
			
	 Loadout CWC pipe Hopper barge
	 	$650 per hour (4 hour minimum)	    	$950 per hour (4 hour minimum)
			
	 Remove dunnage from barge
	 	$100 per hour	    	$100 per hour
	 Laborer w/grinder
	 	$35 per hour	    	$45 per hour
	 Jeeping or Re-jeeping
	 	$35 per manhour	    	$45 per manhour
	 Labor Crew Foreman
	 	$40 per hour	    	$50 per hour
	 Unskilled Laborer
	 	$30 per hour	    	$40 per hour
	 Welder and Equipment
	 	$80 per hour	    	$100 per hour
	 Welder Helper
	 	$35 per hour	    	$45 per hour
	 Forklift with Operator
	 	$60 per hour	    	$80 per hour
	 Crane with Operator (small)
	 	$110 per hour	    	$130 per hour
	 Crane with Operator (large)
	 	$250 per hour	    	$280 per hour
	 Vac-u-lift with Operator
	 	$250 per hour	    	$280 per hour
	 Water Blast with Operator
	 	$80 per hour	    	$90 per hour
	 Steaming with Helpers
	 	$85 per hour	    	$105 per hour

  

  

 Page 3 of 4 

			
	 Date    1/18/07
	  	Purchase Order No. CTP-CWC-001

  

	
	
	 Notes to Seller (continued)
  

 Sub-contracted Services—Subcontracted services furnished by Seller at Buyer's request
shall be invoiced at cost plus 15%. 
 Coating Removal—Pricing for coating removal, for reasons other than coating rejection if
requested by Buyer, shall be at Buyer's expense based upon one and one-half times the application price. 
 Plant Set-up—If
additional workscope is requested by Buyer after completion of application of any particular concrete coating thickness, Buyer shall be responsible for additional plant set-up cost of $10,000 per additional set-up required. 

			
		
	Miscellaneous Services	  	
	 Installation of Customer furnished Bracelet Anode
	  	$694 per anode
	 Application of Adhesive—10' both ends of the pipe
	  	$46.50 per joint
	 Application of Full Length Adhesive
  
	  	 $85.70 per joint
  

  
 Accounts Payable Use
Only 
  

					
	Invoice No.	  	Amount	  	Notes
	 	  	 	  	 
	 	  	 	  	 

  

 Page 4 of 4 

 THIS PURCHASE ORDER IS GOVERNED BY THE FOLLOWING 
 TERMS AND CONDITIONS 
 1. OFFER - This Purchase
Order and its attachments, if any, constitute Buyer’s offer to purchase from Seller the material, goods, services and / or other items described herein. Buyer’s offer is conditioned upon Seller’s acceptance of each of the following
terms and conditions. Any modification of any term and condition by Seller shall constitute a counter offer and shall not be binding on Buyer until specifically accepted by Buyer in writing. 
 2. ACCEPTANCE - Acceptance by Seller of this offer to purchase shall occur at the time (a) Buyer receives a written acknowledgment of Seller’s
acceptance, which may include issuance of an invoice in accordance with Section 13, (b) Seller is deemed to have accepted this offer as set forth below, or (c) Seller ships the first lot of the items or commences performance of the
services ordered hereunder, whichever occurs first. In the event Seller fails to provide Buyer with a written acknowledgment of acceptance (including issuance of an invoice in accordance with Section 13) or notice of rejection within fifteen
(15) days from receipt of Buyer’s offer, and unless Seller requests modification of a material term or condition expressed herein within that same fifteen (15) day period, Buyer and Seller hereby agree that Seller shall be deemed to
accept this offer, and the terms and conditions of this Purchase Order shall apply in their entirety as written. 
 3. MODIFICATIONS - Prior to
Seller’s acceptance of Buyer’s offer to purchase, Buyer may add, delete, or modify any term or condition in this offer, but must do so in writing, or orally followed by prompt written confirmation. Subsequent to acceptance by the Seller,
Buyer may modify the items ordered or the specifications at any time; provided, however, if such modification causes an item to be more costly for Seller to supply, Seller may increase the purchase price of that item to Buyer. Modifications shall
become part of the Purchase Order whenever confirmed in writing by Buyer. 
 4. PRICE - The prices included on the front of this Purchase Order are
firm and fixed unless otherwise agreed in writing by Buyer. Buyer shall receive the benefit of any general reductions in Seller’s prices prior to delivery. For each item purchased hereunder, Buyer shall pay Seller the price on the face of the
Purchase Order, unless otherwise agreed in writing. If the Purchase Order fails to state a price, Seller shall immediately notify Buyer of the price and Buyer shall have fifteen (15) days from the date of receipt of the price notification to
accept or reject the price. If the price is rejected with regard to any item, the Purchase Order is automatically terminated with regard to that item only, and any such items in the possession of Buyer may be returned to Seller at Seller’s
expense. 
 5. QUANTITY - Buyer shall be obligated to purchase and accept only the quantity of items described herein and any items received in excess
thereof or substituted by Seller may be returned to Seller at Seller’s risk and expense. 
 6. EXPEDITING AND INSPECTION - Seller shall provide
to Buyer any information pertinent to this Purchase Order and shall allow Buyer and its agents to have access to any production facility in order that Buyer may witness the progress of the items and services and inspect the materials being used.
Buyer shall have the right to inspect each item or service when completed whether paid for or not by Buyer. Neither Buyer’s inspection nor failure to inspect shall relieve Seller of its obligations hereunder. Items and services may be rejected
by Buyer if they fail to meet the agreed specifications identified on the face of the Purchase Order, and such items shall be returned to Seller at Seller’s cost. 
 7. GENERAL WARRANTY - In addition to the implied warranties under the Uniform Commercial Code, Seller expressly represents and warrants to Buyer that all items and services furnished under this Purchase Order
shall (a) conform to the specifications and other requirements furnished by Buyer, (b) be new and of merchantable quality, (c) be of good material and workmanship, (d) be free from any defects, (e) be fit for any ordinary or
intended particular purpose, and (f) are manufactured, produced and / or performed in compliance with all applicable laws, rules, orders and regulations, and that Seller has merchantable title to all items free and clear of any security
interests, liens or other encumbrances. The representations and warranties in this Section 7 and in Section 8 shall survive the termination of this Purchase Order for whatever reason. 
 8. DEFECTS - If any item, for a minimum period of twelve months (12) from date of installation or eighteen months (18) from date of shipment whichever
occurs first, proves to be defective or fails to conform to the designated specification, Seller shall repair or replace the item provided that Buyer gives Seller reasonable notice of the defect. At Buyer’s option, defective parts may be
repaired or replaced by Seller at the Buyer’s facility or wherever the part is located or may be returned to Seller’s facility or to an authorized repair center, all at Seller’s expense other than transportation costs to return the
defective part which shall be paid by Buyer. Seller shall, for a period of three (3) years after the date of shipment of the items sold hereunder, retain all documents which relate to the materials and process used in performing the work
required under this Purchase Order, and shall make those documents available to Buyer for inspection and copying. 
 9. INDEMNITY -
(a) Seller’s Indemnification. SELLER AGREES TO RELEASE, DEFEND, INDEMNIFY AND HOLD HARMLESS BUYER, ITS REPRESENTATIVES, OFFICERS, AGENTS, EMPLOYEES, AFFILIATES, ASSIGNS, AND SHAREHOLDERS (“BUYER INDEMNITEES”) FROM AND
AGAINST ANY AND ALL CLAIMS, LOSSES AND EXPENSES DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATED TO BODILY INJURY OR DEATH OF, OR DAMAGE TO PROPERTY OF SELLER OR ITS SUBCONTRACTORS, ARISING OUT OF, OR RELATED TO, THE PERFORMANCE OR SUBJECT MATTER OF
THIS PURCHASE ORDER OR THE ITEMS OR SERVICES FURNISHED HEREUNDER OR THE INGRESS, EGRESS, LOADING, OR UNLOADING OF CARGO OR PERSONNEL, AND EXPRESSLY INCLUDING ANY CLAIMS, LOSSES AND EXPENSES ACTUALLY OR ALLEGEDLY CAUSED BY ANY NEGLIGENCE, FAULT OR
STRICT LIABILITY (OF WHATEVER NATURE OR CHARACTER) OF BUYER INDEMNITIEES OR ANY OTHER PERSON OR ENTITY OR THE UNSEAWORTHINESS OR UNAIRWORTHINESS OF VESSELS OR CRAFT, WHETHER OR 

  

 1 of 4 
 Purchase Order Terms & Conditions #429747 v3 

 
NOT PRECEDING THE EXECUTION OF THIS PURCHASE ORDER. IT IS THE EXPRESS INTENTION OF THE PARTIES HERETO, BOTH SELLER AND BUYER, THAT THE INDEMNITY PROVIDED FOR
IN THIS SECTION IS AN INDEMNITY BY SELLER TO INDEMNIFY AND PROTECT BUYER INDEMNITEES FROM THE CONSEQUENCES OF BUYER INDEMNITEES’ OWN NEGLIGENCE, FAULT OR STRICT LIABILITY, WHETHER THAT NEGLIGENCE, FAULT OR STRICT LIABILITY IS THE SOLE, JOINT OR
CONCURRING CAUSE OF THE INJURIES OR DEATH OR PROPERTY DAMAGE (BUT EXPRESSLY EXCLUDING THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF BUYER INDEMNITEES). 
 (b) Buyer’s Indemnification. BUYER AGREES TO RELEASE, DEFEND, INDEMNIFY AND HOLD HARMLESS SELLER FROM AND AGAINST ANY AND ALL CLAIMS, LOSSES AND EXPENSES DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATED TO BODILY INJURY OR DEATH
OF OR DAMAGE TO PROPERTY (EXCEPT FODAMAGE TO THE ITEMS OR SERVICES PROVIDING UNDER THIS PURCHASE ORDER) OF BUYER, ARISING OUT OF, OR RELATED TO, THE PERFORMANCE OR SUBJECT MATTER OF THIS PURCHASE ORDER OR THE ITEMS OR SERVICES FURNISHED HEREUNDER OR
THE INGRESS, EGRESS, LOADING, OR UNLOADING OF CARGO OR PERSONNEL, AND EXPRESSLY INCLUDING ANY CLAIMS, LOSSES AND EXPENSES ACTUALLY OR ALLEGEDLY CAUSED BY ANY NEGLIGENCE, FAULT OR STRICT LIABILITY (OF WHATEVER NATURE OR CHARACTER) OF SELLER OR ANY
OTHER PERSON OR ENTITY OR THE UNSEAWORTHINESS OR UNAIRWORTHINESS OF VESSELS OR CRAFT, WHETHER OR NOT PRECEDING THE EXECUTION OF THIS PURCHASE ORDER. IT IS THE EXPRESS INTENTION OF THE PARTIES HERETO, BOTH SELLER AND BUYER, THAT THE INDEMNITY
PROVIDED FOR IN THIS SECTION IS AN INDEMNITY BY BUYER TO INDEMNIFY AND PROTECT SELLER FROM THE CONSEQUENCES OF SELLER’S OWN NEGLIGENCE, FAULT OR STRICT LIABILITY, WHETHER THAT NEGLIGENCE, FAULT OR STRICT LIABILITY IS THE SOLE, JOINT OR
CONCURRING CAUSE OF THE INJURIES OR DEATH OR PROPERTY DAMAGE (BUT EXPRESSLY EXCLUDING THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF SELLER). This Section 9 shall survive the termination or expiration of this Purchase Order for whatever reason.

 10. DELIVERY - Seller shall prepare the items sold hereunder for delivery to the destination specified within the time period specified on the face
of the Purchase Order, or within a reasonable time if no time is specified. If Seller does not prepare the items within the applicable time period, Buyer may require Seller perform services in the most expeditious means, and Seller shall pay and be
liable for all costs and damages incurred by Buyer due to the Seller’s delay; provided that, Seller’s liability for delay damages in performing hereunder shall not exceed Five Hundred Thousand Dollars ($500,000), provided further that such
cap shall not (a) be construed to limit Seller’s obligation to provide the items and services hereunder for the price set forth in the face of the Purchase Order, nor (b) apply in the event of Supplier’s willful misconduct or
abandonment of this Purchase Order. Seller shall, without exception, forward to Buyer the express receipt or bill of lading signed by the carrier to evidence shipment, and the receipt or bill of lading shall be attached to the original invoice
submitted by Seller. 
 11. CONFLICTS OF INTEREST - Seller shall not, and shall ensure that each of its subcontractors and the agents and employees of
each of them shall not (a) pay any commissions or fees, or grant any rebates, to any employee or officer of Buyer or its affiliates, (b) favor employees or officers of same with gifts or entertainment of a significant cost or value, or
(c) enter into any business arrangements with employees or officers of same. With respect to the supply and performance of goods and services under this Purchase Order, Seller shall, and shall cause each of its subcontractors and the agents and
employees of each of them to comply with (i) all applicable provisions of the Foreign Corrupt Practices Act of the United States (15 U.S.C. § 78dd-1 and 2), and (ii) the Organization for Economic Cooperation and Development Convention
on Combating Bribery of Foreign Public Officials in International Business Transactions as implemented in the domestic law of any state to which Seller and its subcontractors and the agents and employees of each of them is subject and not to take
any action that could result in Buyer or any of its affiliates becoming subject to any action, penalty or loss of benefits thereunder. 
 12. HAZARDOUS
MATERIAL - Seller is responsible for supplying to Buyer and Buyer’s receiving agent “Material Safety Data Sheets” and other required documents on any materials classified as hazardous per Section 48 of the Code of Federal
Regulations and any other government regulation. Seller is responsible for complying with all Federal and State laws regarding packaging, marking and shipment of hazardous materials for delivery to the designated receiving location and will hold
Buyer harmless from and against any damage or loss which Buyer may incur due to such failure. 
 13. INVOICING - Seller shall invoice Buyer for all
items sold hereunder. Each invoice shall specify Buyer’s Purchase Order number and date, and the specific items being invoiced. Invoices shall be delivered to Buyer, along with appropriate lien and claim waivers in such forms to be provided by
Buyer, on or after the date the items are produced and available to Buyer. If Seller allows Buyer a payment discount for cash, the time allowed to make that payment shall commence on the date Buyer receives a correct invoice. All invoices must be
mailed within one year after the relevant items are shipped. Any legal action regarding payment of an invoice must be commenced by Seller within one year after the date the invoice was mailed or Seller’s right to payment shall be deemed
conclusively waived. 
  

	14.	TAXES - Any and all state and local sales and use taxes shall be paid by Buyer. 

 15. TERMINATION FOR CONVENIENCE - At any time, Buyer may terminate for its convenience all or any separable part of this Purchase Order by giving written notice to Seller. On the date notice of such termination
is received by Seller, Seller shall: (i) discontinue all work relating to the items so terminated, (ii) place no additional orders, (iii) preserve and protect materials on hand purchased for or committed to this Purchase Order, work
for items and services in progress, and completed items and services both in Seller’s and in its subcontractors plants pending Buyer’s written instructions, and (iv) dispose of same in accordance with Buyer’s written
instructions, and provided that all costs of disposal pursuant to Buyer’s instructions shall be borne by Buyer, without markup and less any salvage value. 

  

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Buyer’s sole and exclusive liability to Seller upon termination under this Section shall be pursuant to the cancellation schedule set forth in the face
of the Purchase Order, if applicable; otherwise, it shall be payment of the percentage of the price corresponding to the percentage of the items provided or services performed prior to the notice of termination, less all amounts previously paid.
Upon request, Seller shall deliver to Buyer all items and services paid for by Buyer. 
 16. TERMINATION FOR DEFAULT - Each of the following events
shall constitute a material default by Seller for purpose of this Purchase Order: (a) any proceeding under the Bankruptcy Code by or against Seller or the appointment of a trustee for the benefit of creditors; (b) a refusal or failure of
Seller to deliver the items, or to perform the services, in accordance with the agreed delivery schedule, or within a reasonable time if no time is specified; (c) failure to make progress so as to jeopardize the performance of this Purchase
Order in accordance with its terms; (d) assignment of all or any part of this Purchase Order without Buyer’s consent; or (e) failure to perform any other material provision of this Purchase Order. In the event Seller does not cure any
such default within a period of fifteen (15) days after notice thereof, or such longer period as Buyer may authorize in writing, then Buyer may give written notice to Seller to terminate this Purchase Order or any part thereof. In the event of
termination for default, Buyer shall not be liable to Seller for payment of any amount beyond the value of any items shipped or received and accepted by Buyer, less damages suffered by Buyer. Seller shall be liable to Buyer for any and all damages
sustained by reason of such default. 
 17. CONFIDENTIALITY - All information furnished by Buyer hereunder, and any information furnished by Seller in
connection with an item specifically designed or manufactured for Buyer, shall be the proprietary information of Buyer. Seller shall disclose Buyer’s proprietary information to a third party only with the prior written consent of Buyer or if
required to do so under a valid court order. Upon request Seller shall return all such information to Buyer. 
 18. Intentionally omitted. 

19. INSTALLATION - Buyer shall be responsible for installation of the items purchased hereunder at its own expense unless otherwise specified herein.

 20. FORCE MAJEURE - Time is of the essence in the performance of this Purchase Order. The conduct of Buyer’s business is based upon timely
obtaining the items described herein. Neither Buyer nor Seller shall be liable to the other for failure to perform in accordance with the provisions of this Purchase Order if such failure is due to catastrophic acts of God (such as hurricane, named
tropical storm in the Gulf of Mexico, earthquake, tornado, tsunami or lightning); war; riot; civil commotion; strike by labor other from that employed by Buyer or Seller; insurrection; government orders, rules, regulations, suspensions or
requisitions of any kind; or fire; provided that such act or event (i) renders impossible the affected party’s performance of its obligations under this Purchase Order, (ii) is beyond the control of the affected party and not due to
its fault or negligence, and (iii) could not have been prevented or avoided by the affected party through the exercise of due diligence, including the expenditure of any reasonable sum taking into account the price under this Purchase Order. An
event satisfying all of the requirements of this Article 18.1 shall be referred to as a “Force Majeure Event.” If Seller is entitled to relief under this Section 20 for a Force Majeure Event, Seller must notify Buyer in writing within
five (5) calendar days of the occurrence of the Force Majeure Event or forfeit its exclusion from liability under this Section. The notice must contain reasons for the delay and an estimate of the delay in shipment of the items. After receipt
of such notice, Buyer shall have the right at its sole option either to accept Seller’s delay in ability to perform or require Seller to initiate corrective actions to overcome the delay or terminate the order in accordance with
Section 15. 
 21. GOVERNING LAW - This Purchase Order shall be governed by, and construed in accordance with, the laws of the state of Texas
(without giving effect to the principles thereof relating to conflicts of law). The United Nations Convention on Contracts for the International Sale of Goods shall not apply to this Purchase Order. 
 22. COMPLIANCE WITH LAWS - Seller agrees to comply with all laws, orders and regulations of public authorities, including specifically those governing labor and
wages. Seller agrees to accept exclusive liability for the payment of any state, municipal or federal payroll taxes, and for workmen’s compensation, employer’s liability and general public liability and property damage insurances. To the
extent the Federal Equal Employment Opportunity Regulations, the Federal Acquisition Regulations, or both, may be applicable to this Purchase Order, Seller agrees to comply with all provisions of the orders, regulations and laws relating thereto.

 23. PATENTS - Seller shall defend and hold Buyer harmless from all costs or damages arising out of alleged patent infringement regarding any item
sold hereunder. If Buyer is enjoined from using any item, Seller shall promptly secure termination of the injunction, replace the item with a non-infringing item, or remove the infringing item at Seller’s expense and refund to Buyer all amounts
paid in relation to the infringing item. Seller shall likewise hold Buyer harmless against any claim for infringement of copyright, trademark or other proprietary rights, or claims of unfair competition resulting from Buyer’s use, possession,
purchase or sale of any item purchased hereunder. 
 24. TITLE - If Buyer makes progress payments to Seller under this Purchase Order, title to the
items and related services shall pass to Buyer upon the earlier of: (i) the time that Seller identifies the items to this Purchase Order and (ii) Buyer’s payment for such items and services under such progress payment. Seller shall
clearly identify the items (including raw materials and components) as property of Buyer by visible marking or tagging. 
 25. REMEDIES - Any waiver
by Buyer of any breach of any term or condition of this Purchase Order shall not constitute a waiver of any such subsequent breach of the same or any other term or condition hereof. The rights and remedies of Buyer set forth herein are not
exclusive, but are in addition to all other rights and remedies of Buyer at law and in equity. Seller agrees that any right, or remedy of Buyer 

  

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under this Purchase Order shall extend to Buyer’s parent company, as well as any affiliate, assignee, customer or client of Buyer, and any party(ies) on
whose behalf this Purchase Order was issued. 
 26. ASSIGNMENT AND SETOFF - This Purchase Order, including amounts payments to be paid hereunder,
shall not be assigned or transferred in whole or in part without Buyer’s prior written consent. All claims for monies due, or to become due, from Buyer shall be subject to Buyer’s deduction of any amount due or to become due from Seller
arising out of this or any other transaction with Seller. 
 27. AUDIT - If compensation hereunder is calculated according to the cost of the
materials plus a designated percent of that cost in lieu of an established fixed price, Buyer, upon reasonable notice and at its expense, may from time to time audit those portions of Seller’s records which relate to the price paid for the
materials used in performing the Purchase Order. Seller shall maintain all such records and data for at least three (3) years after the date of delivery of the items and shall make such records and data available to Buyer for inspection and
copying. 
 28. ENTIRE AGREEMENT - This Purchase Order, including expressly incorporated attachments, constitutes the entire agreement between the
Buyer and Seller regarding the subject matter of this Purchase Order, and supersedes all prior bids, awards, discussions, negotiations and agreements regarding the subject matter. Any amendment to this Purchase Order, including an oral modification
supported by new consideration, must be in writing and must be signed by Buyer and Seller before it shall be effective. In the event there is any conflict between any provision typed on the face of this Purchase Order these Terms and Conditions or
the specifications, such ambiguity, conflict or discrepancy shall be resolved in the foregoing order. 
 29. DISPUTE RESOLUTION - Any claim, dispute,
controversy, difference, disagreement, or grievance (of any kind or type, whether based on contract, tort, statute, regulation or otherwise) arising out of, connected with or relating in any way to this Purchase Order (including the construction,
validity, interpretation, termination, enforceability or breach of this Purchase Order, or any dispute over arbitrability or jurisdiction) (“Dispute”) not resolved through negotiation shall be decided by final, binding arbitration.
Arbitration of any Dispute shall be held in Houston, Texas, unless otherwise agreed by the Parties, shall be administered by the American Arbitration Association (“AAA”) and shall, except as otherwise modified by this Section 29, be
governed by the AAA commercial arbitration rules then in effect. The arbitration shall be conducted by three (3) arbitrators, unless otherwise agreed by the Parties in writing. The arbitrators shall determine the rights and obligations of the
Parties according to the substantive law required by Section 21; provided, however, the law applicable to the validity of the arbitration clause, the conduct of the arbitration, including resort to a court for provisional remedies, the
enforcement of any award and any other question of arbitration law or procedure shall be the Federal Arbitration Act, 9 U.S.C § 1, et seq. Issues concerning the arbitrability of a matter in dispute shall be decided by a court with proper
jurisdiction. The arbitration shall be conducted in the English language and all submissions shall be made in the English language or with an English translation; provided that witnesses may provide testimony in a language other than English if a
simultaneous English translation is provided. The Parties shall be entitled to engage in reasonable discovery, including the right to production of relevant and material documents by the opposing Party and the right to take depositions reasonably
limited in number, time and place; provided that in no event shall any Party be entitled to refuse to produce relevant and non-privileged documents or copies thereof requested by the other Party within the time limit set and to the extent required
by order of the arbitrators. This agreement to arbitrate is binding upon the parties and the successors and permitted assigns of any of them. At Buyer’s sole option, any other person or entity may be joined as an additional party to any
arbitration conducted under this Section 29, provided that the party to be joined is or may be liable to either Seller or Buyer in connection with all or any part of any Dispute between the Seller or Buyer. The arbitration award shall be final
and binding, in writing, signed by all arbitrators, and shall state the reasons upon which the award thereof is based. The parties agree that judgment on the arbitration award may be entered by any court having jurisdiction thereof. 
 30. SUBCONTRACTORS - Seller shall be responsible for the acts or omissions of any subcontractor as fully as if they were the acts or omissions of Seller.

 31. WAIVER OF CONSEQUENTIAL DAMAGES - NOTWITHSTANDING ANY OTHER PROVISIONS OF THIS PURCHASE ORDER TO THE CONTRARY, NEITHER SELLER NOR BUYER SHALL
BE LIABLE UNDER THIS PURCHASE ORDER OR UNDER ANY CAUSE OF ACTION RELATED TO THE SUBJECT MATTER OF THIS PURCHASE ORDER, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, PRODUCTS LIABILITY OR ANY OTHER CAUSE OF ACTION FOR SPECIAL,
INDIRECT, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL LOSSES OR DAMAGES, INCLUDING LOSS OF PROFITS, USE, OPPORTUNITY, REVENUES, FINANCING, BONDING CAPACITY, OR BUSINESS INTERRUPTIONS; PROVIDED THAT THE LIMITATION OF LIABILITY SET FORTH IN THIS SECTION 31
SHALL NOT APPLY (i) TO SELLER’S LIABILITY UNDER SECTION 10, OR (ii) IF BUYER TERMINATES THIS PURCHASE ORDER IN ACCORDANCE WITH SECTION 16. 
  

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