Document:

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                                                                    EXHIBIT 10.1

                                     FORM OF
                     MEMBERSHIP INTEREST PURCHASE AGREEMENT

         This Membership Interest Purchase Agreement (this "Agreement"), dated
as of September 11, 2001, is by and Williams Communications, LLC, a Delaware
limited liability company ("Seller"), and Williams Aircraft, Inc., a Delaware
corporation ("Buyer").

                                    RECITALS

         Seller is the owner of the entire membership interest of Williams
Communications Aircraft, LLC, a Delaware Limited Liability Company (the
"Company").

         Buyer desires to purchase from Seller, and Seller desires to sell to
Buyer, the entire membership interest in the Company upon the terms and subject
to the conditions contained herein.

         NOW, THEREFORE, in consideration of the premises, agreements and
covenants contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged and in reliance upon
the mutual representations and warranties contained herein, Seller and Buyer
agree, upon the terms and subject to the conditions contained herein, as
follows:

                                    ARTICLE I

                                PURCHASE AND SALE

         1.01 Transfer of Membership Interest. Upon the terms and subject to the
conditions of this Agreement, at the Closing Date (as hereinafter defined),
Seller agrees to sell, assign and deliver to Buyer the entire membership
interest in the Company (the "Interest") together with all of the rights titles
and interests of Seller in or relating in any way to the Company.

         1.02 Purchase Price. The consideration (the "Purchase Price") for the
Interest shall be the sum of Thirty-One Million U.S. Dollars (US$31,000,000.00)
and the assumption by Buyer of all of the liabilities and obligations relating
to the Interest. On the Closing Date, pursuant to the terms and conditions of
this Agreement, Buyer agrees to wire transfer the Purchase Price to the Seller
in accordance with Seller's instructions,.

         1.03 Effective Date. The effective date of the transaction contemplated
by this Agreement shall be the Closing Date (as hereinafter defined).

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                                   ARTICLE II

                                     CLOSING

         2.01 Time and Place of Closing. The closing of the transactions
contemplated hereby (the "Closing") shall be held at the offices of Buyer
located One Williams Center, Tulsa, Oklahoma 74172 , at 1:00 p.m., local time,
on the later to occur of the date which is the first business day following the
day that the conditions specified in Article 5 below shall have been satisfied
in all material respects (or waived by the party or parties entitled to the
benefit thereof), unless another time, date and place is agreed to in writing by
Buyer and Seller. The date upon which Closing occurs shall be referred to herein
as the "Closing Date".

         2.02 Deliveries by Seller. (a) Delivery of Documents. At Closing,
Seller shall deliver to Buyer:

                  (i) One or more certificates evidencing that Buyer is the
owner of the Interest, including without limitation an Assignment of Limited
Liability Membership Interest substantially in the form attached hereto as
Exhibit A; and

                  (ii) A legal opinion as to the title and lien status to the
Aircraft;

                  (iii) All waivers, consents, permissions, or other documents
that may be necessary for the transfer of the Interest to Buyer; and

                  (iv) The duly executed Aircraft Dry Leases for the Aircraft
and Releases of all liens on the Aircraft.

         2.03 Deliveries By Buyer. At Closing, Buyer shall deliver the
consideration described in Article 1.02 to Seller together with evidence of
Buyer's power and authority to purchase the Interest.

                                   ARTICLE III

                    REPRESENTATIONS AND WARRANTIES OF SELLER

         Seller represents and warrants to Buyer as follows:

         3.01 Existence and Qualification. The Company is a limited liability
company duly formed and validly existing under the laws of Delaware. The Company
has all requisite corporate power and authority to own, operate and lease its
properties and to carry on its business as presently conducted. All of the
minute books, including all minutes, consents and other records of actions taken
by the members and managers (including any committee thereof) of the Company are
held by the Company.

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         3.02 Authority, Approval and Enforceability. Seller has all requisite
power and authority to execute and deliver this Agreement and to perform its
obligations under this Agreement. This Agreement has been duly executed and
delivered on behalf of Seller and constitutes the legal, valid and binding
obligation of Seller, enforceable against Seller in accordance with its terms.
At the Closing all documents required hereunder to be executed and delivered by
Seller will have been duly authorized, executed and delivered by Seller and will
constitute legal, valid and binding obligations of Seller, enforceable in
accordance with their terms.

         3.03 The Interest. The Interest is the sole membership interest in the
Company and is owned beneficially and in the name of Seller, free and clear of
all mortgages, pledges, security interests, liens or encumbrances of any kind
and is not subject to any agreements or understandings among any persons with
respect to the voting or transfer thereof. There are no outstanding
subscriptions, options, convertible securities, warrants, calls or other
securities granting rights to purchase or otherwise acquire interests in the
Company or any commitments or agreements of any character obligating Seller
regarding the foregoing.

         3.04 Governmental Authorizations. The Seller has obtained and holds all
governmental permits, licenses, orders and approvals necessary to own the
Interest.

         3.05 Assets. The only assets of the Company are the Aircraft as
described in Article 5.01, and the Company has no liabilities, obligations,
commitments or undertakings except as regards the ongoing ownership and
operation of the Aircraft. All filings and certificates necessary for the
Company to own and operate the Aircraft have been filed or obtained.

         3.06 Airworthiness. At Closing the Aircraft shall be in an airworthy
condition with all systems functioning within tolerances as stated in the
manufacturer's maintenance criteria. The Aircraft are and shall be at Closing
free and clear of all liens and encumbrances, and the Company will have good and
marketable title thereto. Seller has previously delivered to the Company a
Certificate of Airworthiness issued by the U.S. Federal Aviation Administration
("FAA") certifying that, at the date of issuance, the Aircraft has been
inspected and found to conform in all respects to the applicable FAA Certificate
of Airworthiness.

                                   ARTICLE IV

                              CONDITIONS TO CLOSING

         4.01 Conditions to Obligations of Buyer and Seller. The obligations of
Buyer and Seller to proceed with the Closing are subject to the satisfaction at
or prior to Closing of all of the following conditions.

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                  (a) Compliance. Buyer and Seller shall have complied in all
material respects with their respective covenants and agreements contained
herein. The representations and warranties contained herein, or in any
certificate or similar instrument required to be delivered by or on behalf of
each of Seller or Buyer pursuant hereto shall be true and correct in all
material respects on and as of the Closing Date, with the same effect as though
made at such time;

                  (b) No Orders. No order, writ, injunction or decree shall have
been entered and be in effect by any court of competent jurisdiction or any
governmental or regulatory instrumentality or authority, and no statute, rule,
regulation or other requirement shall have been promulgated or enacted and be in
effect, that restrains, enjoins or invalidates the transactions contemplated
hereby;
                  (c) No Suits. No suit or other proceeding shall be pending or
threatened by any third party before any court or governmental agency seeking to
restrain or prohibit or declare illegal, or seeking substantial damages in
connection with, the transactions contemplated by this Agreement.

                                    ARTICLE V

                                     ASSETS

         5.01 Asset. The only assets or property of any kind owned by the
Company are the Aircraft identified on Exhibit "B". All of the above, together
with the existing components, avionics, accessories, equipment attached or
unattached, instrumentation and log books, including without limitation the
specifications and features set forth in Exhibit B hereto, are collectively
referred to herein as the "Aircraft".

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                                   ARTICLE VI

                             POST CLOSING INSPECTION

         6.01 Inspection of the Aircraft. On a date that is mutually agreed
between Buyer and Seller, but not later than October 31, 2001, Seller will
present the Aircraft for inspection to Buyer, or Buyers designated
representative. The location of such presentation for inspection shall be the
Buyer's hangar located at Tulsa International Airport, Tulsa, Oklahoma, and the
direct cost of presenting the Aircraft for inspection shall be borne by the
Seller. The cost of the inspection shall be borne by Seller. Upon such
presentation of the Aircraft for inspection by Seller, Buyer shall have the
right for a period of up to seven (7) days to inspect the Aircraft, to conduct a
test flight under the supervision and control of Seller, and to review all
maintenance records, all flight and other records and to otherwise conduct such
physical, technical, engineering and mechanical reviews and tests as would a
normal prudent purchaser of similar aircraft. Within two (2) business days
following the end of such seven (7) day period, Buyer or its representative
shall deliver to Seller a detailed list of any defects (whether physical,
mechanical or otherwise) that Buyer requires to be remedied as a condition of
completing the purchase of the Interest. Seller shall have fifteen (15) days
following the receipt of such notice to either (i) remedy defects affecting
airworthiness of the Aircraft to the reasonable satisfaction of Buyer, or (ii)
agree to pay Buyer an amount that the parties agree is the projected cost of
remedying such defects affecting the airworthiness of the Aircraft. In the event
that Seller undertakes to remedy any defects notified by Buyer, Buyer shall have
a reasonable period thereafter to conduct such further tests of the Aircraft to
confirm the completion of any repairs made by Seller as provided above. Defects
not affecting the airworthiness of the Aircraft shall be itemized and, subject
to mutual agreement by the parties, the Seller shall pay Buyer the reasonable
cost of such repairs. Notwithstanding the above, any Defects existing on or
prior to February 26, 2001, shall not be subject to this Section. Buyer and
Seller shall coordinate on any such preexisting defects.

         6.02 All flight manuals, maintenance manuals, parts catalogs, wiring
diagrams as well as all other records, paperwork, or minor equipment as is
normally considered to be part of the Aircraft will be given to Buyer at closing
or at a later time consented to in writing by the Buyer.

                                   ARTICLE VI

                                  MISCELLANEOUS

         7.01 Notices. Any notice, request, instruction, correspondence or other
communication to be given or made hereunder by either party to the other (herein
collectively called "Notice") shall be in writing and (a) delivered by hand, (b)
mailed by certified mail, postage prepaid and return receipt requested, (c) sent
by telecopier, or (d) sent by Express Mail, Federal Express, or other express
delivery service.

         7.02 Governing Law. The provisions of this agreement, the schedules
hereto, and the documents delivered pursuant hereto shall be governed by and
construed in accordance with the laws of the State of Oklahoma (excluding any
conflicts-of-law rule or principle that might refer such

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matters to the laws of another jurisdiction), except to the extent that such
matters are mandatorily subject to the laws of another jurisdiction pursuant to
the laws of such other jurisdiction.

         7.03 Entire Agreement; Amendments and Waivers. This Agreement, together
with all Schedules hereto, constitutes the entire agreement between the parties
hereto pertaining to the subject matter hereof and supersedes all prior
agreements, understandings, negotiations and discussions, whether oral or
written, of the parties regarding the Interest or the Aircraft. No supplement,
modification or waiver of this Agreement shall be binding unless executed in
writing by the party to be bound thereby. No waiver of any of the provisions of
this Agreement shall be deemed or shall constitute a waiver of any other
provision hereof (regardless of whether similar), nor shall any such waiver
constitute a continuing waiver unless otherwise expressly provided.

         7.04 Binding Effect and Assignment. This Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective
permitted successors and assigns. Neither this Agreement nor any of the rights,
benefits or obligations hereunder shall be assigned, by operation of law or
otherwise, by any party hereto prior to the Closing without the prior written
consent of the other party. Except as expressly provided herein, nothing in this
Agreement is intended to confer upon any Person other than the parties hereto
and their respective permitted successors and assigns, any rights, benefits or
obligations hereunder.

         7.05 Severability. If any one or more of the provisions contained in
this Agreement or in any other document delivered pursuant hereto shall, for any
reason, be held to be invalid, illegal or unenforceable in any material respect,
such invalidity, illegality or unenforceability shall not affect any other
provision of this Agreement or any other such document.

         7.06 No Implied Warranty on Aircraft. BUYER UNDERSTANDS THAT THE
AIRCRAFT WAS ACQUIRED BY THE COMPANY FROM SELLER ON AN "AS IS" CONDITION. UNLESS
OTHERWISE PROHIBITED BY LAW, BUYER AGREES THAT (i) SELLER MAKES NO WARRANTIES,
EXPRESSED OR IMPLIED WITH RESPECT TO THE AIRCRAFT THAT CONTINUE BEYOND THE
CLOSING, EXCEPT THAT SELLER WARRANTS THAT THE COMPANY HAS GOOD AND MARKETABLE
TITLE TO THE AIRCRAFT AND THE AIRCRAFT WAS ACQUIRED BY THE COMPANY FROM SELLER
WITH A FAA 8050-2 BILL OF SALE, FREE AND CLEAR OF ALL LIENS, (ii) BUYER WAIVES
AS TO SELLER ALL OTHER WARRANTIES RELATING TO THE AIRCRAFT, WHETHER OF
MERCHANTABILITY, FITNESS OR OTHERWISE, (iii) SELLER DISCLAIMS ALL LEGAL
RESPONSIBILITY FOR PRODUCT DEFECTS RELATING TO THE AIRCRAFT THAT MIGHT CAUSE
HARM, (iv) SELLER SHALL NOT BE LIABLE FOR ANY GENERAL, CONSEQUENTIAL OR
INCIDENTAL DAMAGES, INCLUDING, WITHOUT LIMITATION, ANY DAMAGES FOR LOSS OF USE,
LOSS OF PROFITS OR DIMINUTION OF MARKET VALUE OF THE AIRCRAFT, AND SELLER SHALL
NOT BE LIABLE FOR ANY DAMAGES CLAIMED BY BUYER OR ANY OTHER PERSON OR ENTITY
UPON THE THEORIES OF

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NEGLIGENCE OR STRICT LIABILITY IN TORT, (v) IF THE AIRCRAFT SHOULD FOR ANY
REASON PROVE TO BE DEFECTIVE, SELLER AND COMPANY BEAR NO OBLIGATION FOR
SERVICING AND REPAIR OF SUCH DEFECT(S), AND (vi) ALL RISK AS TO THE QUALITY AND
PERFORMANCE OF THE AIRCRAFT IS THAT OF THE COMPANY. Upon Delivery the Seller
shall deliver to the Company an assignment of all manufacturer's warranties, if
any, with respect to the Aircraft that are assignable (other than those
warranties which by their terms are not assignable). Seller shall also, upon
Buyer's request, reasonably execute, or cause to be executed such further
documents as may be necessary to assist the Company to maintain continuity of
the warranties and to assist the Company to process warranty claims directly
with the manufacturers. All costs, if any, to transfer said manufacturer's
warranties shall be at Buyer's expense.

         7.07 Headings and Schedules. The headings of the several Articles and
Sections herein are inserted for convenience of reference only and are not
intended to be a part of or to affect the meaning or interpretation of this
Agreement. The Schedules referred to herein are attached hereto and incorporated
herein by this reference. Seller may revise or supplement the Schedules at any
time prior to Closing.

         7.08 Further Assurances. After the Closing, Seller and Buyer will take
all appropriate action and execute any documents, instruments or conveyances of
any kind that may be reasonably necessary to effectuate the intent of this
Agreement.

         7.09 Taxes. Seller hereby agrees to pay, and indemnify and hold
harmless the Buyer from and against, any and all taxes (including interest and
penalties), duties and fees assessed or levied by any federal, state or local
taxing authority as a result of this Agreement or the sale, delivery,
registration or ownership of the Aircraft by the Company. Seller shall not,
however, be liable for any tax imposed with respect to, or measured by, the net
income of the Buyer.

         7.10 Confidentiality. The terms and conditions of this offer shall
remain confidential. Seller and Buyer agree to not divulge any terms and/or
conditions contained herein prior to, or subsequent to delivery, with the
exception of filings with federal or state agencies.

         7.12 Counterparts and Binding Effect. This Agreement may be executed in
counterparts and each counterpart shall be an original, and all counterparts
together shall be one and the same. This Agreement shall be binding and
enforceable against, and run to the benefit of, the successors and assigns of
the parties hereto.

[Signature page follows]

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EXECUTED as of the date first set forth above.

SELLER:

WILLIAMS COMMUNICATIONS, LLC

By:
   --------------------------

Name:
     ------------------------

Title:
      -----------------------

BUYER:

WILLIAMS AIRCRAFT, INC.

By:
   --------------------------

Name:
     ------------------------

Title:
      -----------------------

               Signature Page to that certain Membership Interest
           Purchase Agreement between Williams Communications, LLC and
                             Williams Aircraft, Inc.

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<PAGE>

                                    EXHIBIT A

           ASSIGNMENT OF LIMITED LIABILITY COMPANY MEMBERSHIP INTEREST

THIS ASSIGNMENT OF LIMITED LIABILITY COMPANY MEMBERSHIP INTEREST (this
"Assignment"), dated effective as of September 11, 2001, is WILLIAMS
COMMUNICATIONS LLC, a Delaware limited liability company ("Assignor"), WILLIAMS
AIRCRAFT, INC., a Delaware corporation ("Assignee").

                                    Recitals

A. Assignor is the owner of the entire membership interest in Williams
Communications Aircraft, LLC, a Delaware limited liability company (the
"Company").

B. Assignor has agreed to assign to Assignee all of its interest in the Company
and Assignee has agreed to accept such assignment.

                            Assignment and Assumption

For $10 and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, Assignor and Assignee agree as follows:

1. Assignor hereby transfers, grants, contributes, conveys and assigns to
Assignee all of its ownership rights, titles and interests in and to the
Company, including but not limited to all of Assignor's membership interest in
the Company (collectively, the "Assigned Interests").

2. Assignee hereby assumes all liabilities and obligations accruing with respect
to the Assigned Interests from and after September 11, 2001.

3. Assignor will, upon request from Assignee, execute and deliver any additional
documents necessary to complete the sale, assignment and transfer of the
Assigned Interests tendered hereby. Assignor authorizes the Company to transfer
ownership of the Assigned Interests to Assignee on the books and records of the
Company.

4. This Assignment shall be binding upon, and shall inure to the benefit of the
parties hereto and their successors, heirs and assigns.

5. This Assignment shall be governed by the laws of the State of Oklahoma,
without regard for its conflict of laws rules.

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6. This Assignment may be executed in counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
document.

EXECUTED to be effective as of the date first set forth above.

ASSIGNOR:

WILLIAMS COMMUNICATIONS, LLC

By:
   --------------------------

Name:
     ------------------------

Title:
      -----------------------

ASSIGNEE:

WILLIAMS AIRCRAFT, INC.

By:
   --------------------------

Name:
     ------------------------

Title:
      -----------------------

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                                    EXHIBIT B

                     DESCRIPTION OF AIRCRAFT SPECIFICATIONS

         1.       CESSNA MODEL 560 CITATION V AIRCRAFT WITH MANUFACTURER'S
                  SERIAL NUMBER 560-0194 AND UNITED STATES NATIONALITY AND
                  REGISTRATION MARKS N352WC.

                  PRATT & WHITNEY MODEL JT15D-5D AIRCRAFT ENGINES WITH
                  MANUFACTURER'S SERIAL NUMBERS PCE-108400 AND PCE-108397.

                  SUCH AIRCRAFT TO BE BASED AT TULSA INTERNATIONAL AIRPORT, CITY
                  OF TULSA, OKLAHOMA, COUNTRY OF U.S.A.

         2.       CESSNA MODEL 750 CITATION X AIRCRAFT WITH MANUFACTURER'S
                  SERIAL NUMBER 750-0121 AND UNITED STATES NATIONALITY AND
                  REGISTRATION MARKS N358WC.

                  ALLISON MODEL AE3007C AIRCRAFT ENGINES WITH MANUFACTURER'S
                  SERIAL NUMBERS CAE330260 AND CAE330261.

                  SUCH AIRCRAFT TO BE BASED AT TULSA INTERNATIONAL AIRPORT, CITY
                  OF TULSA, OKLAHOMA, COUNTRY OF U.S.A.

         3.       CESSNA MODEL 560XL CITATION EXCEL AIRCRAFT WITH MANUFACTURER'S
                  SERIAL NUMBER 560-5129 AND UNITED STATES NATIONALITY AND
                  REGISTRATION MARKS N359WC.

                  PRATT & WHITNEY MODEL PW545A AIRCRAFT ENGINES WITH
                  MANUFACTURER'S SERIAL NUMBERS PCEDB0271 AND PCEDB0265.

                  SUCH AIRCRAFT TO BE BASED AT SPIRIT OF SAINT LOUIS AIRPORT,
                  CITY OF CHESTERFIELD, MISSOURI, COUNTRY OF U.S.A.

                                       11<PAGE>

                                                                    EXHIBIT 10.2

                                     FORM OF
                               AIRCRAFT DRY LEASE
                                     N352WC

                  This Aircraft Dry Lease ("Lease") dated as of September 13,
2001 ("Effective Date"), is by and between Williams Communications Aircraft,
LLC, a Delaware limited liability company and a wholly owned subsidiary of
Williams Aircraft, Inc. ("Lessor") and Williams Communications, LLC, a Delaware
limited liability company (the "Lessee").

                  Lessor hereby leases to Lessee, and Lessee hereby leases from
Lessor the aircraft described on Schedule "B" attached hereto, together with all
engines, equipment, attachments, substitutions, replacements and additions
(collectively, the "Aircraft").

         1. Certain Definitions: For purposes of this Lease the terms
"Additional Charge", "Affiliate", "Change in Control", "Debt", "Encumbrance",
"Environmental Laws", "ERISA", "ERISA Event", "GAAP:", "Governmental Authority",
"Hazardous Materials", "Material Adverse Affect", "Material Debt", "Notice",
"Officer's Certificate", "Overdue Rate", "Permitted Encumbrances", "Person",
"Plan", "Prime Rate", "Proceeding", "Transfer", and "WCG" shall have the
meanings described for such capitalized terms as contained in the Master Lease
dated September 13, 2001, among Williams Headquarters Building Company, Williams
Technology Center, LLC, and Williams Communications, LLC. Capitalized terms not
otherwise specifically defined in this Lease shall have the meanings described
for such capitalized terms as contained in the Credit Agreement dated as of
September 8, 1999 (the "Credit Agreement") among Lessee, Bank of America, N.A.,
The Chase Manhattan Bank and other parties (and capitalized terms contained
within such definitions as set forth in the Credit Agreement shall similarly
have the meanings described for such capitalized terms therein) with respect to
the financial covenants therein. A copy of the Credit Agreement is attached
hereto as Exhibit I. Lessee shall provide copies of any amendments or
restatements or waivers to the Credit Agreement to Lessor within five (5) days
of execution thereof. Such amendments or restatements or waivers shall
automatically become a part hereof with respect to the financial covenants.

         2. Term and Rent: This Lease is for a term of ten (10) years, beginning
September 13, 2001, and ending September 1, 2011. For said term or any portion
thereof, Lessee shall pay to Lessor rentals ("Rent") payable in accordance with
Schedule "A", of which the first is due October 1, 2001, and the others on a
like date of each month thereafter. All Rent shall be paid at Lessor's place of
business shown below, or such other place as the Lessor may designate by written
notice to the Lessee. All Rent shall be paid without notice or demand and
without abatement, deduction or set-off of any amount whatsoever. The operation
and use of the Aircraft shall be at the risk of Lessee, and not of Lessor and
the obligation of Lessee to pay Rent hereunder shall be unconditional.

                  2.1 Late Charge; Interest: If any Rent payable to Lessor is
         not paid when due, Lessee shall pay Lessor on demand, as an Additional
         Charge, (a) a late charge equal to (i)

<PAGE>

         two percent (2%) of the amount not paid within five (5) days of the
         date when due plus (b) if such Rent (including the late charge) is not
         paid within ten (10) days of the date due, interest thereon at the
         Overdue Rate from such tenth (10th) day until such Rent (including the
         late charge and interest) is paid in full.

         3. Destruction of Aircraft: If the Aircraft is lost, stolen, totally
destroyed, damaged beyond repair or permanently rendered unfit for use for any
reason whatsoever, the liability of the Lessee to pay Rent therefor may be
discharged by paying to Lessor all the Rent due thereon, plus all the Rent to
become due thereon less the net amount of the recovery, if any, actually
received by Lessor from insurance or otherwise for such loss or damage. Lessor
shall not be obligated to undertake, by litigation or otherwise, the collection
of any claim against any person for loss or damage of the Aircraft. Except as
expressly provided in this paragraph, the total or partial destruction of the
Aircraft, or total or partial loss of use or possession thereof to Lessee, shall
not release or relieve Lessee from the duty to pay the Rent herein provided.

         4. No Warranties by Lessor; Compliance with Laws and Insurance: Lessor,
not being the manufacturer of the Aircraft, nor manufacturer's agent, makes no
warranty or representation, either express or implied, as to the fitness,
quality, design, condition, capacity, suitability, merchantability or
performance of the Aircraft or of the material or workmanship thereof, or that
the Aircraft will satisfy the requirements of any law, rule, specification or
contract, it being agreed that the Aircraft is leased "as is" and that all such
risks, as between the Lessor and the Lessee, are to be borne by the Lessee at
its sole risk and expense, Lessee accordingly agrees not to assert any claim
whatsoever against the Lessor based thereon. Lessee further agrees, regardless
of cause, not to assert any claim whatsoever against the Lessor for loss of
anticipatory profits or consequential, indirect, special or punitive damages.
Lessor shall have no obligation to test or service the Aircraft. Lessee agrees,
at its own cost and expense, (a) to pay all charges and expenses in connection
with the operation of the Aircraft; (b) to comply with all governmental laws,
ordinances, regulations, requirements and rules with respect to the use and
operation of the Aircraft; and (c) to maintain at all times (i) Aircraft hull
insurance, including all-risk ground and flight insurance on the Aircraft for
the stated value thereof (not to be less than the full current market value as
determined annually by the parties) for the term of this Lease, plus other
insurance thereon in amounts and against such risks as Lessor may specify, and
deliver each policy to Lessor with a standard long form endorsement attached
thereto showing loss payable to Lessor as its interest may appear, and (ii)
combined single limit liability insurance covering bodily injury liability,
property damage liability and passenger liability for the term of this Lease
naming Lessor its parent and affiliates as additional insureds to the full
extent of the policies carried, but in no event less than $200,000,000.00 per
occurrence. Lessee shall deliver to Lessor evidence of such insurance coverage.
All insurance policies must provide that no cancellation or non-renewal thereof
shall be effective without 30 days prior written notice to Lessor and all
insurance policies shall be in form, terms and amounts and with insurance
carriers satisfactory to Lessor.

                                       2
<PAGE>

         5. Maintenance. Lessee, at its cost and expense, shall:

                  5.1 perform or cause to be performed all airworthiness
         directives, mandatory manufacturer's service bulletins, and all other
         mandatory service, inspections, repair, maintenance, overhaul and
         testing: (a) as may be required under applicable Federal Aviation
         Administration (the "FAA") rules and regulations, (b) in the same
         manner and with the same care as shall be the case with similar
         aircraft and engines owned by or operated on behalf of Lessee without
         discrimination, and (c) so as to keep the Aircraft in as good operating
         condition as when delivered to the Lessee, ordinary wear and tear
         excepted, with all systems in good operating condition;

                  5.2 keep the Aircraft in such condition as is necessary to
         enable the airworthiness certification of the Aircraft to be maintained
         at all times under applicable FAA regulations and any other applicable
         law, including, but not limited to any equipment modifications or
         installations required by the FAA;

                  5.3 maintain, in the English language, all records and other
         materials required by and in a manner acceptable to the FAA and any
         other governmental entity having jurisdiction over the Aircraft and its
         operation;

                  5.4 Lessee shall furnish Lessor reports on an annual basis a
         list of those service bulletins, airworthiness directives and
         engineering modifications incorporated on the Aircraft during the
         preceding calendar year.

         6. Taxes: Lessee agrees that, during the term of this Lease, in
addition to the Rent and all other amounts provided herein to be paid, it will
promptly pay all taxes, assessments and other governmental charges (including
penalties and interest, if any, and fees for titling or registration, if
required) levied or assessed: (a) upon the interest of the Lessee in the
Aircraft or upon the use or operation thereof or on the earnings arising
therefrom; and (b) against Lessor on account of its acquisition or ownership of
the Aircraft, or the use or operation thereof or the leasing thereof to the
Lessee, or the Rent herein provided for, or the earnings arising therefrom,
exclusive, however, of any taxes based on net income of Lessor ("Taxes"). Lessee
agrees to file, on behalf of Lessor, all required tax returns and reports
concerning the Aircraft with all appropriate governmental agencies, and within
not more than 45 days after the due date of such filing to send Lessor
confirmation, in form satisfactory to Lessor, of such filing.

                  6.1 Lease Characterization: Lessor and Lessee agree that the
         terms of this Lease create an operating lease for federal and state
         income tax purposes. Consistent with the foregoing, Lessor intends to
         retain all tax benefits associated with this Lease and Lessee agrees
         not to take an inconsistent position on its federal or state income tax
         filings. If any action taken by one party under this Lease causes this
         Lease to be ultimately determined by

                                       3
<PAGE>

         any taxing authority not to be an operating lease, that party shall
         indemnify the other party for any resulting increase in the other
         party's federal or state income tax liability for any period.

                  6.2 Permitted Contests: Lessee, on its own or on Lessor's
         behalf or in Lessor's name, but at Lessee's sole cost and expense,
         shall have the right to contest, by an appropriate legal proceeding
         conducted in good faith and with due diligence, the amount or validity
         of any levy or assessment of Taxes provided (a) prior notice of such
         contest is given to Lessor, (b) the Aircraft would not be in any danger
         of being sold, forfeited or attached as a result of such contest, and
         there is no risk to Lessor of a loss of or interruption in the payment
         of Rent, (c) in the case of unpaid Taxes, collection thereof is
         suspended during the pendency of such contest, and (d) compliance may
         legally be delayed pending such contest. Upon request of Lessor, Lessee
         shall deposit funds or assure Lessor in some other manner reasonably
         satisfactory to Lessor that the Taxes, together with interest and
         penalties, if any, thereon, and any and all costs for which Lessee is
         responsible will be paid if and when required upon the conclusion of
         such contest. Lessee shall defend, indemnify and save harmless Lessor
         from all costs or expenses arising out of or in connection with any
         such contest, including but not limited to payment of Taxes and
         attorneys' fees. If at any time Lessor reasonably determines that
         payment of the Taxes contested by Lessee is necessary in order to
         prevent loss of the Aircraft or Rent or civil or criminal penalties or
         other damage, upon such prior notice to Lessee as is reasonable in the
         circumstances Lessor may pay such amount or take such other action as
         it may deem necessary to prevent such loss or damage. If reasonably
         necessary, upon Lessee's written request Lessor, at Lessee's expense,
         shall cooperate with Lessee in a permitted contest, provided Lessee
         upon demand reimburses Lessor for Lessor's costs incurred in
         cooperating with Lessee in such contest.

         7. Lessor's Right of Inspection and Identification of Aircraft: All
equipment, engines, radios, accessories, instruments and parts now or hereafter
used in connection with the Aircraft shall become part of the Aircraft by
accession. Lessor warrants that the Aircraft is not registered under the laws of
any foreign country. Lessee shall permit Lessor or its designee, on 5 days prior
written notice to visit and inspect the Aircraft, its condition, use and
operation, and the records maintained in connection therewith, at any reasonable
time without interfering with the normal operation of the Aircraft, at Lessor's
cost and expense, provided that no Default or Event of Default has occurred and
is continuing. Lessor shall have no duty to make any such inspection and shall
not incur any liability or obligation by reason of not making any such
inspection. Lessor's failure to object to any condition or procedure observed or
observed in the course of an inspection hereunder shall not be deemed to waive
or modify any of the terms of this Lease with respect to such condition or
procedure.

         8. Possession and Place of Use: The Aircraft shall be based at the
location specified in Schedule "B", and shall not be permanently removed
therefrom without Lessor's prior written

                                       4
<PAGE>

consent. Lessee shall not, without Lessor's prior written consent, (a) part with
possession or control of the Aircraft, (b) attempt or purport to sell, pledge,
mortgage or otherwise encumber the Aircraft or otherwise dispose of or encumber
any interest under this Lease, or (c) fly or permit the Aircraft to be flown or
located outside the area covered by insurance required by paragraph 3 of this
Lease.

         9. Lessee's Warranties: Lessee warrants that the Aircraft will be
registered under the laws of the United States and will not be registered under
the laws of any foreign country; that the Aircraft and/or equipment will not be
held, maintained or used in violation of any law, regulation, ordinance or
policy of insurance affecting the maintenance, use or flight of Aircraft. These
warranties are conditions of Lessee's right of possession and use, and delivery
is made in reliance thereon.

         10. Performance of Obligations of Lessee by Lessor: In the event that
Lessee shall fail duly and promptly to perform any of its obligations under the
provisions of this Lease, Lessor may, at its option, perform the same for the
account of Lessee without thereby waiving such default, and any amount paid or
expense (including reasonable attorneys' fees), penalty or other liability
incurred by Lessor in such performance, together with interest at the Overdue
Rate until paid by Lessee to Lessor, shall be payable by Lessee upon demand as
additional rent for the Aircraft.

         11. Purchase Option: At any time during the term of this Lease, if
Lessee has paid in full all rentals owing hereunder and is not in default
hereunder, Lessee shall have the option to purchase the Aircraft for an amount
equal to the greater of (1) fair market value of the Aircraft or (2) the
Termination Value in accordance with Schedule "C" plus accrued interest. Lessee
shall give Lessor written notice of its intent to exercise such option not less
than 30 days prior to the transfer of the Aircraft to Lessee. Fair market value
shall be determined by a mutually agreed upon independent aircraft broker. If
the parties cannot agree on the selection of a broker, each party shall
designate a broker. Such selected brokers will then select a third broker to
appraise the Aircraft. Such third party broker appraisal shall be binding upon
the parties.

                  Lessee shall also have the right to purchase the Aircraft as
of October 1, 2006 ("Early Buy-Out Option") for the Termination Value for such
date in accordance with Schedule "C" plus accrued interest.

         Lessee shall also be responsible for all transaction costs associated
with any exercise in accordance with this Section 11.

         12. Put Option: Upon the expiration of the original term of this Lease,
Lessor shall have the option to require the Lessee to purchase the Aircraft for
an amount equal to the agreed fair market value of the Aircraft as defined in
Section 11 hereof. Lessor shall provide Lessee written notice of its intent to
exercise such option not less than 30 days prior to the expiration of the
original term of this Lease.

                                       5
<PAGE>

         Lessee shall also be responsible for all transaction costs associated
with any exercise in accordance with this Section 12.

         13. Default: An event of default ("Event of Default") shall occur if:

                  (a) Lessee fails to pay or cause to be paid the Rent when due
and payable;

                  (b) Either Lessee or WCG, has a petition in bankruptcy filed
against it, is adjudicated a bankrupt or has an order for relief thereunder
entered against it, or a court of competent jurisdiction enters an order or
decree appointing a receiver of Lessee or WCG or of the whole or substantially
all of its property, or approving a petition filed against Lessee seeking
reorganization or arrangement of Lessee under the federal bankruptcy laws or any
other applicable law or statute of the United States of America or any state
thereof, any such judgment, order or decree is not vacated or set aside or
stayed within sixty (60) days from the date of the entry thereof, subject to the
applicable provisions of the Bankruptcy Code (11 U.S.C. Section 101, et seq);

                  (c) Lessee or WCG: (i) admits in writing its inability to pay
its debts generally as they become due, (ii) files a petition in bankruptcy or a
petition to take advantage of any insolvency law, (iii) makes a general
assignment for the benefit of its creditors, (iv) consents to the appointment of
a receiver of itself or of the whole or any substantial part of its property, or
(v) files a petition or answer seeking reorganization or arrangement under the
Federal bankruptcy laws or any other applicable law or statute of the United
States of America or any state thereof, subject to the applicable provisions of
the Bankruptcy Code (11 U.S.A. Section 101, et seq);

                  (d) Lessee or WCG, is liquidated or dissolved, or begins a
Proceeding toward liquidation or dissolution, or has filed against it a petition
or other Proceeding to cause it to be liquidated or dissolved and the Proceeding
is not dismissed within thirty (30) days thereafter, or Lessee in any manner
permits the sale or divestiture of substantially all of its assets;

                  (e) The estate or interest of Lessee in the Aircraft or any
part thereof is levied upon or attached in any Proceeding and the same is not
vacated or discharged within thirty (30) days thereafter (unless Lessee is in
the process of consenting such lien or attachment in good faith);

                  (f) Any representation or warranty made by Lessee in the
Membership Interest Purchase Agreement or in the certificate delivered in
connection therewith shall prove to be incorrect in any material respect when
made or deemed made, Lessor is materially and adversely affected thereby and
Lessee fails within twenty (20) days after Notice from Lessor thereof to cure
such condition by terminating such adverse effect and making Lessor whole for
any damage suffered therefrom, or, if with due diligence such cure cannot be
effected within twenty (20) days, if Lessee has failed to commence to cure the
same within the twenty (20) days or failed thereafter to proceed promptly and
with due diligence to cure such condition and complete such cure prior to the
time that such condition causes a default in any other lease to which Lessee is
subject and prior to the time that

                                       6
<PAGE>
the same results in civil or criminal penalties to Lessor, Lessee, or any
Affiliates of any of such parties or the Aircraft;

                  (g) A Transfer occurs without the prior written consent of
Lessor;

                  (h) Except as otherwise provided in subsection (m) below, a
default occurs under any Material Debt when and as the same become due and
payable (subject to any applicable grace period);

                  (i) Lessee fails to purchase the Aircraft if and as required
under this Lease;

                  (j) Lessee or WCG breaches any of the financial covenants set
forth in Section 14 hereof and the breach is not cured within a period of thirty
(30) days after the earlier to occur of (i) the Notice thereof from Lessor, or
(ii) knowledge thereof by Lessee or WCG;

                  (k) Lessee fails to observe or perform any other term,
covenant or condition of this Lease and the failure is not cured by Lessee
within a period of thirty (30) days after Notice thereof from Lessor:

                  (l) Lessee breaches any representation or warranty made by it
in this Lease;

                  (m) An Event of Default as defined in the Credit Agreement,
occurs and an acceleration of any of the Loans as defined in the Credit
Agreement results;

                  (n) One or more judgments for the payment of money in an
aggregate amount in excess of $25,000,000 shall be rendered against Lessee or
WCG, or any combination thereof and the same shall remain undischarged for a
period of thirty (30) consecutive days during which execution shall not be
effectively stayed, or any action shall be legally taken by a judgment creditor
to attach or levy upon any assets of Lessee or WCG to enforce any such judgment;

                  (o) An ERISA Event shall have occurred that, in the opinion of
the Lessor, when taken together with all other ERISA Events that have occurred,
could reasonable be expected to result in liability of Lessee or WCG in an
aggregate amount exceeding $25,000,000 for all periods;

                  (p) Lessee fails to maintain the Aircraft in accordance with
the terms of this Lease;

                  (q) A Change in Control shall occur;

                  (r) Lessee fails to observe or perform any provisions of
Section 4 and Section 14.4 regarding insurance; or

                                       7
<PAGE>

                  (s) Lessee defaults on any other Aircraft Dry Lease dated
concurrently herewith.

         Upon the occurrence of an Event of Default, Lessor, at Lessor's option,
may: (a) proceed by appropriate court action or actions or other proceedings
either at law or in equity to enforce performance by Lessee of any and all
covenants of this Lease and to recover damages for the breach thereof; (b)
demand that Lessee deliver the Aircraft forthwith to Lessor at Lessee's expense
at such place as Lessor may designate; (c) Lessor and/or Lessor's agents may,
without notice or liability or legal process, enter into any premises of or
under control or jurisdiction of Lessee or any agent of Lessee where the
Aircraft may be or by Lessor is believed to be, and repossess the Aircraft,
using all force necessary or permitted by applicable law so to do, Lessee hereby
expressly waiving all further rights to possession of the Aircraft and all
claims for injuries suffered through or loss caused by such repossession; (d)
terminate this Lease, whereupon Lessee shall, without further demand, as
liquidated damages for loss of the bargain and not as a penalty forthwith pay to
Lessor any unpaid Rent that accrued on or before the occurrence of the event of
default plus an amount equal to the difference between the value, as of the date
of the occurrence of such event of default, of the aggregate Rent reserved
hereunder for the unexpired term of this Lease and the then value of the
aggregate rental value of the Aircraft for such unexpired term which the Lessor
reasonably estimates to be obtainable for the use of the Aircraft during such
unexpired terms. Should any proceedings be instituted by or against Lessor for
monies due to Lessor hereunder and/or for possession of the Aircraft or for any
other relief, Lessee shall pay a reasonable sum as attorneys' fees. If any
statute governing the proceeding in which damages are to be proved specifies the
amount of such claim, Lessor shall be entitled to prove as and for damages for
the breach an amount equal to that allowed under such statute. The remedies of
this Lease provided in favor of Lessor shall not be deemed exclusive, but shall
be cumulative, and shall be in addition to all other remedies in its favor
existing at law or in equity, and the exercise, or beginning of exercise by
Lessor of any one or more of such remedies shall not preclude the simultaneous
or later exercise by Lessor of any or all such remedies. No express or implied
waiver by Lessor of any event of default hereunder shall in any way be, or be
construed to be, a waiver of any future or subsequent events of default.

         14. Covenants: Lessee represents, warrants and covenants that:

                  14.1 Existence; Conduct of Business. Lessee and WCG each will
         (i) continue to engage in business of the same general type as now
         conducted and (ii) do or cause to be done all things necessary to
         preserve, renew and keep in full force and effect its legal existence
         and the rights, licenses, permits, privileges, franchises, patents,
         copyrights, trademarks and trade names material to the conduct of its
         business.

                  14.2 Payment of Obligations. Lessee and WCG each (i) will pay
         its Debt and other material obligations, including tax liabilities,
         before the same shall become delinquent or in default, except where (a)
         the validity or amount thereof is being contested in good faith by
         appropriate legal process, (b) has set aside on its books adequate
         reserves with respect thereto in accordance with GAAP, (c) such contest
         effectively suspends collection of the

                                       8
<PAGE>

         contested obligation and the enforcement of any Encumbrance securing
         such obligation and (d) the failure to make payment pending such
         contest could not reasonably be expected to result in a Material
         Adverse Effect and (ii) shall not breach, in any material respect, or
         permit to exist any material default under, the terms of any material
         lease, commitment, contract, instrument or obligation to which it is a
         party, or by which its properties or assets are bound, except where the
         failure to do the foregoing would not in the aggregate have a Material
         Adverse Effect.

                  14.3 Maintenance of Properties. Lessee and WCG each will keep
         and maintain all property material to the conduct of its business in
         good working order and condition, ordinary wear and tear excepted.

                  14.4 Insurance. In addition to the insurance required in
         Section 4, Lessee and WCG each will maintain, with financially sound
         and reputable insurance companies, insurance in such amounts and
         against such risks as are customarily maintained by companies engaged
         in the same or similar businesses operating in the same or similar
         locations. As of the Effective Date, all premiums in respect of all
         insurance described in the Lease have been paid. Lessee shall deliver
         an insurance certificate to Lessor as of the Effective Date evidencing
         all such insurance coverages.

                  14.5 Casualty and Condemnation. The Lessee will furnish to
         Lessor prompt written notice of any casualty or other insured damage to
         any portion of any of Lessor's property or assets or the commencement
         of any action or Proceeding for the taking of any of Lessor's property
         or assets or any part thereof or interest therein under power of
         eminent domain or by condemnation or similar Proceeding (in each case
         with a value in excess of $10,000,000).

                  14.6 Books and Records; Inspection and Audit Rights. Lessee
         and WCG each will keep proper books of record and account in which
         materially full, true and correct entries are made of all dealings and
         transactions in relation to its business and activities. Lessee and WCG
         each will permit any representatives designated by the Lessor at the
         expense of Lessor, or, if an Event of Default shall have occurred and
         be continuing, at the expense of the Lessee, upon reasonable prior
         notice, to visit and inspect its properties, to examine and make
         extracts from its books and records, and to discuss its affairs,
         finances and condition with its officers and independent accountants,
         all at such reasonable times and as often as reasonably requested.

                  14.7 Compliance with Laws. Lessee and WCG each will comply
         with all laws, rules, regulations and orders of any Governmental
         Authority applicable to it or its property (including, without
         limitation, Environmental Laws and ERISA and the rules and regulations
         thereunder), except where the necessity of compliance therewith is
         contested in good faith

                                       9
<PAGE>

         by appropriate action and such failure to comply, individually or in
         the aggregate, could not reasonably be expected to result in a Material
         Adverse Effect.

                  14.8 Further Assurances. At any time and from time to time,
         Lessee will execute any and all further documents, financing
         statements, agreements and instruments, and take all such further
         actions (including the filing and recording of financing statements,
         fixture filings, mortgages, deeds of trust and other documents), which
         may be required under any applicable law, or which the Lessor may
         reasonably request, to effectuate the transactions contemplated by this
         Lease or to grant, preserve, protect or perfect the Encumbrances
         created or intended to be created in connection with this Lease or any
         of the other documents contemplated herein, required to be in effect or
         the validity or priority of any such Encumbrance, all at the expense of
         Lessee and Lessor. Lessee and Lessor also agree to provide to Lessor,
         from time to time upon request, evidence reasonably satisfactory to
         Lessor as to the perfection and priority of the Encumbrance created or
         intended to be created in connection with this Lease or any of the
         other documents contemplated herein.

                  14.9 Pledge or Encumber Assets. Lessee shall not pledge or
         otherwise encumber any of its assets, other than leased equipment used
         in the operation of the Aircraft.

                  14.10 Encumbrances. Lessee will not create, incur, assume or
         permit to exist any Encumbrance on any property or asset now owned or
         hereafter acquired by it, or assign or sell any income or revenues or
         rights in respect of any thereof, except for any Permitted Encumbrances
         or Encumbrances created in connection with or specifically contemplated
         by this Lease or permitted by the Credit Agreement.

                  14.11 Fundamental Changes. Lessee and WCG each will not merge
         into or consolidate with any other Person, or permit any other Person
         to merge into or consolidate with it, or liquidate or dissolve, except
         that, if at the time thereof and immediately after giving effect
         thereto no Event of Default shall have occurred and be continuing (i)
         any Person may merge into the Lessee in a transaction in which the
         Lessee is the surviving entity, provided that any such merger involving
         a Person that is not a wholly owned by Lessor immediately prior to such
         merger shall not be permitted, and (ii) any person may merge into the
         Lessee in a transaction in which the Lessee is the surviving
         corporation.

                  14.12 Other Material Agreements. Lessee shall not (i) enter
         into any other material agreement relating to any portion of the
         Aircraft, or (ii) if entered into with Lessor's consent, thereafter,
         amend, modify, renew, replace or otherwise change the terms of any such
         material agreement without the prior written consent of Lessor.

                  14.13 Total Net Debt to Contributed Capital Ratio. The Total
         Net Debt to Contributed Capital ratio shall at no time prior to January
         1, 2002 exceed .65 to 1.00.

                                       10
<PAGE>

                  14.14 Minimum EBITDA. The amount equal to (i) EBITDA for the
         period of four (4) fiscal quarters ending during any period set forth
         below plus (ii) ADP Interest Expense for such period minus (iii) gains
         for such period attributable to Dark Fiber and Capacity Dispositions
         plus (iv) Dark Fiber and Capacity Proceeds for such period shall not be
         less than the amount set forth below opposite such period:

<Table>
<Caption>
                      PERIOD                                              AMOUNT
                      ------                                              ------
<S>                                                                    <C>
          January 1,2001-March 31, 2001                                $200,000,000

           April 1, 2001-June 30, 2001                                 $300,000,000

         July 1, 2001-September 20, 2001                               $350,000,000

        October 1, 2001-December 31, 2001                              $350,000,000
</Table>

                  14.15 Total Leverage Ratio. (a) The Total Leverage Ratio
         during any period set forth below shall not exceed the ratio set forth
         below opposite such period:

<Table>
<Caption>
                       PERIOD                                       TOTAL LEVERAGE RATIO
                       ------                                       --------------------
<S>                                                                 <C>
          March 31, 2001-December 30, 2001                               12.50:1.00

        December 31, 2002-December 30, 2003                               9.50:1.00

          December 31, 2003 and thereafter                                4.00:1.00
</Table>

                  14.16 Senior Leverage Ratio. The Senior Leverage Ratio during
         any period set forth below shall not exceed the ratio set forth below
         opposite such period:

<Table>
<Caption>
                       PERIOD                                      SENIOR LEVERAGE RATIO
                       ------                                      ---------------------
<S>                                                                <C>
          March 31, 2002-December 30, 2002                               5.25:1.00

        December 31, 2002-December 30, 2003                              3.25:1.00

          December 31, 2003 and thereafter                               2.50:1.00
</Table>

                  14.17 Interest Coverage Ratio. The Interest Coverage Ratio for
         any period of four (4) consecutive fiscal quarters ending during any
         period set forth below shall not be less than the ratio set forth below
         opposite such period:

<Table>
<Caption>
                     PERIOD                                     INTEREST COVERAGE RATIO
                     ------                                     -----------------------
<S>                                                             <C>
          June 30, 2002-June 29, 2003                                  1.00:1.00

        June 30, 2003-December 30, 2003                                1.50:1.00

        December 31, 2003 and thereafter                               2.00:1.00
</Table>

                                       11
<PAGE>

                  14.18 Organization; Powers. Lessee is duly organized, validly
         existing and in good standing under the laws of the jurisdiction of its
         organization, has all requisite power and authority to carry on its
         business as now conducted and, except where the failure to do so,
         individually or in the aggregate, could not reasonably be expected to
         result in a Material Adverse Effect, is qualified to do business in,
         and is in good standing in, every jurisdiction where such qualification
         is required.

                  14.19 Authorization; Enforceability. The execution of and
         performance under this Lease is within Lessee's' entity powers and has
         been duly authorized by all necessary member, corporate and, if
         required, stockholder action as the case may be. This Lease has been
         duly executed and delivered by Lessee and constitutes a legal, valid
         and binding obligation of the Lessee, enforceable in accordance with
         its terms, subject to applicable bankruptcy, insolvency,
         reorganization, moratorium or other laws affecting creditors' rights
         generally and subject to general principles of equity, regardless of
         whether considered in a Proceeding in equity or at law.

                  14.20 Governmental Approvals; No Conflicts. The Lease or any
         of the other documents contemplated herein, (a) does not require any
         consent or approval of, registration or filing with, or any other
         action by, any Governmental Authority, except such as have been
         obtained or made and are in full force and effect and except filings
         necessary to perfect Lessor's rights under this Lease, (b) will not
         violate any applicable law or regulation or the charter, by-laws or
         other organizational documents of Lessee or Lessor or any order of any
         Governmental Authority, (c) will not violate or result in a default
         under any indenture, agreement or other instrument binding upon Lessee
         or Lessor or any of their respective assets, or give rise to a right
         thereunder to require any payment to be made by Lessee or Lessor, and
         (d) will not result in the creation or imposition of any Encumbrance on
         any asset of Lessee or Lessor, except any Encumbrance created by or in
         accordance with the Lease.

                  14.21 Material Adverse Change. Since December 31, 2000, there
         has been no Material Adverse Change.

                  14.22 Properties. Lessee has good title to, or valid leasehold
         interests in, all its real and personal property material to its
         business, except for minor defects in title that do not interfere with
         its ability to conduct its business as currently conducted or to
         utilize such properties for their intended purposes. None of the
         properties and assets of Lessee or Lessor is subject to any Encumbrance
         other than Permitted Encumbrances, and Encumbrances created by or in
         connection with this Lease.

                  14.23 Intellectual Property. Lessee owns, or is licensed to
         use, all trademarks, trade names, copyrights, patents and other
         intellectual property material to its business, and the use thereof by
         Lessee does not infringe upon the rights of any other Person, except
         for any such infringements that, individually or in the aggregate,
         could not reasonably be expected to result in a Material Adverse
         Effect.

                                       12
<PAGE>

                  14.24 Litigation and Environmental Matters. There is no
         action, suit or Proceeding by or before any arbitrator or Governmental
         Authority pending against or, to the knowledge of Lessee or Lessor,
         threatened against or affecting Lessee or WCG (i) as to which there is
         a reasonable possibility of an adverse determination and that, if
         adversely determined, could reasonably be expected, individually or in
         the aggregate, to result in a Material Adverse Effect or (ii) that
         involve this Lease or any of the other documents contemplated herein.

                           14.24.1 Environmental Compliance. Except with respect
                  to other matters that, individually or in the aggregate, could
                  not reasonably be expected to result in a Material Adverse
                  Effect, Lessee (i) has not failed to comply with any
                  Environmental Law or to obtain, maintain or comply with any
                  permit, license or other approval required under any
                  Environmental Law, (ii) has not become subject to any
                  liability with respect to any Environmental Law, (iii) has not
                  received written notice of any claim with respect to any
                  Environmental Law or (iv) does not know of any basis for any
                  violations of any Environmental Law or any release, threatened
                  release or exposure to any Hazardous Materials that is likely
                  to form the basis of any liability under any Environmental
                  Law.

                  14.25 Compliance with Laws and Agreements. Lessee is in
         compliance with all laws, regulations and orders of any Governmental
         Authority applicable to it or its property and all indentures,
         agreements and other instruments binding upon it or its property,
         except where the failure to do so, individually or in the aggregate,
         could not reasonably be expected to result in a Material Adverse
         Effect. No Event of Default has occurred and is continuing.

                  14.26 Investment and Holding Company Status. Lessee is not (a)
         an "investment company" as defined in, or subject to regulation under,
         the Investment Company Act of 1940 or (b) a "holding company" as
         defined in, or subject to regulation under, the Public Utility Holding
         Company Act of 1935.

                  14.27 Taxes. Lessee or WCG has timely filed or caused to be
         filed all tax returns and reports required to have been filed and has
         paid or caused to be paid all taxes required to have been paid by or
         with respect to it, except (a) taxes that are being contested in good
         faith by an appropriate Proceeding and for which Lessee or Lessor, as
         applicable, has set aside on its books adequate reserves or (b) to the
         extent that the failure to do so could not reasonably be expected to
         result in a Material Adverse Effect.

                  14.28 ERISA. No ERISA Event has occurred or is reasonably
         expected to occur that, when taken together with all other such ERISA
         Events for which liability is reasonably expected to occur, could
         reasonably be expected to result in a Material Adverse Effect. The
         present value of all accumulated benefit obligations under each Plan
         (based on the assumptions used for purposes of Statement of Financial
         Accounting Standards No. 87) did not, as of the date of the most recent
         financial statements reflecting such amounts, exceed by more than
         $25,000,000 the fair market value of the assets of such Plan, and the
         present value of all accumulated benefit obligations of all underfunded
         Plans (based on the assumptions used for purposes of Statement of
         Financial Accounting Standards No. 87) did not, as of the date of the
         most recent financial statements reflecting such amounts, exceed by
         more than $25,000,000 the fair market value of the assets of all such
         underfunded Plans.

                                       13
<PAGE>

                  14.29 Disclosure. Lessee has disclosed all agreements,
         instruments and corporate or other restrictions to which Lessee is
         subject, and all other matters known to Lessee, that, individually or
         in the aggregate, could reasonably be expected to result in a Material
         Adverse Effect. None of the reports, financial statements, certificates
         or other information furnished by or on behalf of Lessee in connection
         with the negotiation of this Lease or delivered hereunder (as modified
         or supplemented by other information so furnished) contains any
         material misstatement of fact or omits to state any material fact
         necessary to make the statements therein, in the light of the
         circumstances under which they were made, not misleading; provided
         that, with respect to projected financial information, Lessee
         represents only that such information was prepared in good faith based
         upon assumptions believed to be reasonable at the time.

                  14.30 Labor Matters. As of the Effective Date, there are no
         strikes, lockouts or slowdowns against Lessee pending or, to the
         knowledge of Lessee, threatened. The hours worked by and payments made
         to employees of Lessee have not been in violation of the Fair Labor
         Standards Act or any other applicable Federal, state, local or foreign
         law dealing with such matters. All payments due from Lessee, or for
         which any claim may be made against Lessee, on account of wages and
         employee health and welfare insurance and other benefits, have been
         paid or accrued as a liability on the books of Lessee. The execution of
         this Lease has not and will not give rise to any right of termination
         or right of renegotiation on the part of any union under any collective
         bargaining agreement by which Lessee is bound.

                  14.31 No Burdensome Restrictions. No contract, lease,
         agreement or other instrument to which Lessee is a party or by which
         any of its property is bound or affected, no charge, corporate
         restriction, judgment, decree or order and no provision of applicable
         law or governmental regulation could reasonably be expected to have
         Material Adverse Effect.

                  14.32 Representations True and Correct. As of the dates when
         made and as of the Effective Date, each representation and warranty of
         Lessee thereto contained in this Lease or any other documents executed
         in connection herewith, is true and correct.

         15. OFFICER'S CERTIFICATES AND FINANCIAL STATEMENTS. Lessee shall
furnish or cause to be furnished to one another:

                  15.1 Fiscal Year Information. (i) within 90 days after the end
         of each fiscal year of WCG, its audited consolidated balance sheets and
         related audited consolidated statements of operations, stockholders' or
         members' equity and cash flows as of the end of and for such fiscal
         year (including segment reporting with respect to each of WCG's
         business segments consistent), setting forth in each case in
         comparative form the figures for the previous fiscal year, all reported
         on by Ernst & Young LLP or other independent public accountants of
         recognized national standing (without a "going concern" or like
         qualification or exception and without any qualification or exception
         as to the scope of such audit) to the effect that such consolidated
         financial statements present fairly in all material respects the
         financial condition and results of operations of WCG on a consolidated
         basis in accordance with

                                       14
<PAGE>

         GAAP consistently applied, and (ii) within 90 days after the end of
         each fiscal year of WCG, supplemental unaudited balance sheets and
         related unaudited statements of operations, stockholders' or members'
         equity and cash flows as of the end of and for such fiscal year,
         setting forth in tabular form in each case the figures for the previous
         year, for WCG and the consolidating adjustments with respect thereto.

                  15.2 Quarterly Information. (i) within 45 days after the end
         of each of the first 3 fiscal quarters of each fiscal year of WCG,
         unaudited consolidated and consolidating balance sheets and related
         consolidated and consolidating statements of operations, stockholders'
         or members' equity and cash flow of WCG as of the end of and for such
         fiscal quarter and the then elapsed portion of the fiscal year, setting
         forth in each case in comparative form the figures for the
         corresponding period or periods of the previous fiscal year (or in the
         case of the balance sheet, as of the end of the previous fiscal year),
         all certified by an Officer's Certificate as presenting fairly in all
         material respects the financial condition and results of operations of
         WCG on a consolidated basis in accordance with GAAP consistently
         applied, subject to normal year-end audit adjustments and the absence
         of footnotes and (ii) within 45 days after the end of each of the first
         3 fiscal quarters of each fiscal year of WCG, unaudited balance sheets
         and related statements of operations, stockholders' or members' equity
         and cash flow of Lessor as of the end of and for such fiscal quarter
         and the then elapsed portion of the fiscal year, setting forth in each
         case in comparative form the figures for the corresponding period or
         periods of the previous fiscal year (or, in the case of the balance
         sheet, as of the end of the previous fiscal year) all certified by a
         Officer's Certificate as presenting fairly in all material respects the
         financial condition and results of operations of WCG in accordance with
         GAAP consistently applied, subject to normal year-end audit adjustments
         and the absence of footnotes.

                  15.3 Officers Certificate. Concurrently with any delivery of
         financial statements in accordance with this Lease, an Officer's
         Certificate of the Lessee (i) certifying as to whether an Event of
         Default has occurred and, if an Event of Default has occurred,
         specifying the details thereof and any action taken or proposed to be
         taken with respect thereto, (ii) setting forth in reasonable detail
         calculations demonstrating compliance with Sections 14.13 through
         14.17, and (iii) stating whether any change in GAAP or in the
         application thereof has occurred since the date referred to in
         paragraph 14.24 and, if any such change has occurred, specifying the
         effect of such change on the financial statements accompanying such
         Officer's Certificate.

                  15.4 Accounting Firm Certificate. Concurrently with any
         delivery of financial statements in accordance with this Lease, a
         certificate of the accounting firm that reported on such financial
         statements stating whether they obtained knowledge during the course of
         their examination of such financial statements of any Event of Default
         (which certificate may be limited to the extent required by accounting
         rules or guidelines).

                  15.5 Budget. As soon as practicable after approval by the
         Board of Directors of WCG, and in any event not later than 120 days
         after the commencement of each fiscal year of Lessor, a consolidated
         and consolidating budget of WCG for such fiscal year and a consolidated
         budget of WCG for such fiscal year and, promptly when available, any
         significant revisions of any such budget.

                                       15
<PAGE>

                  15.6 SEC Filings. Promptly after the same become publicly
         available, copies of all periodic and other reports, proxy statements
         and other materials filed by WCG or any of its Affiliates with the SEC,
         or any Governmental Authority succeeding to any or all of the functions
         of the SEC, or with any national securities exchange, or distributed by
         WCG to its members generally, as the case may be, except to the extent
         any such report, proxy statement or other material is available
         electronically on a publicly-accessible website.

                  15.7 Other Information. Promptly following any request
         therefor, such other information regarding the operations, business
         affairs and financial condition of Lessee, or compliance with the terms
         of this Lease or any of the documents contemplated herein.

                  15.8 Credit Agreement Information. To the extent not
         previously covered by the provisions of this paragraph, copies of all
         information provided by Lessee or any Affiliates pursuant to the Credit
         Agreement, contemporaneously with its delivery pursuant thereto.

         16. NOTICES OF MATERIAL EVENTS. Upon knowledge thereof, Lessee will
furnish prompt written notice of the following. Each notice delivered under this
paragraph shall be accompanied by a statement of an Officer's Certificate, duly
executed, setting forth the details of the event or development requiring such
notice and any action taken or proposed to be taken with respect thereto.

                  16.1 Event of Default. The occurrence of any Event of Default.

                  16.2 Action, Suit or Proceeding. The filing or commencement of
         any action, suit or Proceeding by or before any arbitrator or
         Governmental Authority against or affecting Lessee, WCG or any
         Affiliate thereof that could reasonably be expected to result in a
         Material Adverse Effect.

                  16.3 ERISA Event. The occurrence of any ERISA Event that,
         alone or together with any other ERISA Events that have occurred, could
         reasonably be expected to result in a Material Adverse Effect.

                  16.4 Credit Agreement. Any change or modification to the
         Credit Agreement.

                  16.5 Other Matters. Any other development that results in, or
         could reasonably be expected to result in, a Material Adverse Effect.

         17. Indemnity: Lessee agrees that Lessor shall not be liable to Lessee
for, and Lessee shall indemnify and save Lessor, its parent and affiliated
companies harmless from and against any and all liability, loss, damage,
expense, causes of action, suits, claims or judgments arising from or caused
directly or indirectly by (a) Lessee's failure to promptly perform any of its
obligations under the provisions of this Lease, (b) injury to person or property
resulting from or based upon the actual or alleged use, operation, delivery or
transportation of the Aircraft or its location or condition, or (c) inadequacy
of the Aircraft for any purpose or any deficiency or defect therein or the use
or

                                       16
<PAGE>

maintenance thereof or any repairs, servicing or adjustments thereto or any
delay in providing or failure to provide any thereof or any interruption or loss
of service or use thereof or any loss of business; and shall, at its own cost
and expense, defend any and all suits which may be brought against Lessor,
either alone or in conjunction with others upon any such liability or claim or
claims and shall satisfy, pay and discharge any and all judgments and fines that
may be recovered against Lessor in any such action or actions, provided,
however, that Lessor shall give Lessee written notice of any such claim or
demand.

         18. Assignments and Notices: Neither this Lease nor Lessee's rights
hereunder shall be assignable except with Lessor's written consent; the
conditions hereof shall bind any permitted successors and assigns of Lessee.
Lessor may assign this Lease without consent of Lessee. Lessee, after receiving
notice of any assignment, shall abide thereby and make payment as may therein be
directed. Following such assignment, solely for the purpose of determining
assignor's rights hereunder, the term "Lessor" shall be deemed to include or
refer to Lessor's assignee. All notices relating hereto shall be delivered in
person to an officer of Lessor or Lessee or shall be mailed to Lessor or Lessee
at its respective address herein shown or at any later address last known to the
sender.

         19. Further Assurances: Lessee shall execute and deliver to Lessor,
upon Lessor's request, such instruments and assurances as Lessor deems necessary
or advisable for the confirmation or perfection of this Lease and Lessor's
rights hereunder, including the filing or recording of this Lease at Lessor's
option.

         20. Counterparts: This Lease may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one in the same instrument.

         21. Entire Agreement: There are no oral or written agreements or
representations between the parties hereto affecting this Lease. This Lease
supersedes and cancels any and all previous negotiations, arrangements,
representations, brochures, agreements and understandings, if any, between
Lessor and Lessee.

         22. Governing Law: This Lease is executed and delivered in the State of
Oklahoma, and except insofar as the law of another state or jurisdiction may be
mandatorily applicable, shall be construed and enforced in accordance with, and
the rights of the parties shall be governed by, the laws of said State.

         23. Truth-in-Leasing Clause: THE AIRCRAFT HAS BEEN MAINTAINED AND
INSPECTED UNDER FEDERAL AVIATION REGULATION PART 91 FOR THE 12 MONTHS PRECEDING
THE DATE OF THIS LEASE. THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER
FEDERAL AVIATION REGULATION PART 91 FOR OPERATIONS TO BE CONDUCTED UNDER THIS
LEASE. THE LESSEE CERTIFIES THAT IT IS RESPONSIBLE FOR OPERATIONAL CONTROL OF
THE AIRCRAFT AND THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH
APPLICABLE

                                       17
<PAGE>

FEDERAL AVIATION REGULATIONS. AN EXPLANATION OF THE FACTORS BEARING ON
OPERATIONAL CONTROL AND THE PERTINENT FEDERAL AVIATION REGULATIONS CAN BE
OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE.

LESSOR:                                     LESSEE:

WILLIAMS COMMUNICATIONS                     WILLIAMS COMMUNICATIONS, LLC
   AIRCRAFT, LLC

By:                                         By:
   -------------------------------             ---------------------------------

Name:                                       Name:
     -----------------------------               -------------------------------

Title:                                      Title:
      ----------------------------                ------------------------------

Signature page to Aircraft Dry Lease (N352WC) by and between Williams
Communications Aircraft, LLC and Williams Communications, LLC dated September
11, 2001

                                       18
<PAGE>

                                  SCHEDULE "A"

                                  RENT -N352WC

                  Rent shall be payable in one hundred and twenty (120) equal
successive monthly rental payments in an amount as would be necessary to
amortize $4,000,000 on a straight-line basis over a period of one hundred and
twenty (120) months plus interest calculated at the Interest Rate as set forth
below:

                  The following definitions shall apply to this SCHEDULE "A":

                  "ABR", when used herein, refers to interest at a rate
determined by reference to the Alternate Base Rate.

                  "Applicable Margin" means, for any day, the applicable rate
per annum set forth below under the caption "Eurodollar Spread" or "ABR Spread",
as the case may be, based upon the Lessee's Bank Facility Rating set by S&P and
Moody's, respectively, applicable on such date plus (ii) the applicable rate per
annum set forth below under the caption "Leverage Premium", unless the Total
Leverage Ratio, as determined by reference to the financial statements delivered
to the Lessor in respect of the most recently ended fiscal quarter of WCG, is
less than 6:00 to 1:00.

                  "Eurodollar", when used herein, refers to interest at a rate
determined by reference to the Adjusted LIBO Rate.

                  "LIBO Rate" means, with respect to any Eurodollar Rate, the
rate appearing on Page 3750 of the Telerate Service (or on any successor or
substitute page of such Service, or any successor to or substitute for such
Service, providing rate quotations comparable to those currently provided on
such page of such Service, as determined by the Lessor from time to time for
purposes of providing quotations of interest rates applicable to dollar deposits
in the London interbank market) at approximately 11:00 a.m., London time, two
(2) Business Days prior to the FIRST DAY of each calendar month, as the rate for
dollar deposits with a maturity of thirty (30) days. In the event that such rate
is not available at such time for any reason, then the "LIBO Rate" shall be the
rate (rounded upwards, if necessary, to the next 1/16 of 1%) at which dollar
deposits of $5,000,000 and for a maturity of thirty (30) days are offered by the
principal London office of the CitiBank, N.A., in immediately available funds in
the London interbank market at approximately 11:00 a.m., London time, two (2)
Business Days prior to the FIRST DAY of each calendar month. IN EITHER CASE, THE
APPLICABLE LIBO RATE SHALL BE EFFECTIVE FOR THE CALENDAR MONTH NEXT SUCCEEDING
THE CALENDAR MONTH COMMENCING IMMEDIATELY AFTER SUCH DETERMINATION.

                  "Moody's" means Moody's Investors Service, Inc.

                  "S&P" means Standard & Poor's Ratings Services, a division of
the McGraw Hill Companies.

                  "WCG" means Williams Communications Group, Inc., a Delaware
corporation, and the parent company of Williams Communications, LLC.

                                       19
<PAGE>

Interest Rate Calculation

At Lessee's option, ABR plus Applicable Margin or LIBO Rate plus Applicable
Margin (the "Rate") as determined from time to time by S&P or by Moody's based
on Lessee's Facilities Rating in accordance with the grid below:

<Table>
<Caption>
                                  Facilities Rating of                                  Eurodollar      Leverage
                                         Lessee                       ABR Spread          Spread        Premium
                                  --------------------                ----------        ----------      --------
<S>                          <C>                                       <C>               <C>             <C>
      Level I                    BBB- and Baa3 or higher                  0.50%            1.50%           .25%

      Level II                         BB+ and Ba1                       0.875%           1.875%           .25%

      Level III                         BB and Ba2                        1.25%            2.25%           .25%

      Level IV                         BB- and Ba3                        1.50%            2.50%           .25%

      Level V                Lower than BB- or lower than Ba3             1.75%            2.75%           .25%
</Table>

         For purposes of the foregoing (i) if neither S&P nor Moody's or any
replacement or successor facility of similar size shall have in effect a rating
for the Facilities, then the Applicable Margin shall be the rate set forth in
Level V, (ii) if either S&P or Moody's, but not bot S&P or Moody's, shall have
in effect a rating for the Facilities, then the Applicable Margin shall be based
on such rating, (iii) if the ratings established by S&P or Moody's for the
Facilities shall fall within different Levels, then the Applicable Margin shall
be based on the lower of the two ratings, (iv) if the ratings established by S&P
or Moody's for the Facilities shall fall within the same Level, then the
Applicable Margin shall be based on that Level and (v) if the ratings
established by S&P or Moody's for the Facilities shall be changed (other than as
a result of a change in the rating system of S&P of Moody's), such change shall
be effective as of the date on which it is first announced by the applicable
rating agency. Each change in the Applicable Margin shall apply during the
period commencing on the effective date of such change and engine on the date
immediately preceding the effective date of the next such change.

                                       20
<PAGE>

                                  SCHEDULE "B"

         Cessna model 560 Citation V aircraft with manufacturer's serial number
560-0194 and United States nationality and registration marks N352WC.

         Pratt & Whitney model JT15D-5D aircraft engines with manufacturer's
serial numbers PCE-108400 and PCE-108397, each of which is capable of producing
750 or more rated takeoff horsepower.

         Such aircraft shall be based at Tulsa International Airport, City of
Tulsa, State of Oklahoma, Country of U.S.A.

                                       21
<PAGE>

                                  SCHEDULE "C"

                                Termination Value

The Termination Value of the Aircraft shall be set forth opposite the applicable
rent payment, plus accrued interest to such date.

CAPITALIZED LESSOR'S COST:          $4,000,000.00

<Table>
<Caption>
                                               (1)              (2)                (3)              (4)              (2) + (4)
                         Termination         Ten Year                            Monthly        Present Value
Payment      Monthly      Value as a      Straight-Line     Unamortized        Depreciation    of Depreciation      Termination
Number       Period       % of Cost       Amortization        Balance            Benefits         Benefits             Value
<S>          <C>         <C>              <C>              <C>                 <C>             <C>                  <C>
      1      10/1/01        133.83%         $33,333.33     $4,000,000.00        $66,666.67      $1,353,143.02       $5,353,143.02
      2      11/1/01        131.55%         $33,333.33     $3,966,666.67        $66,666.67      $1,295,497.31       $5,262,163.97
      3      12/1/01        129.27%         $33,333.33     $3,933,333.33        $66,666.67      $1,237,467.29       $5,170,800.62
      4       1/1/02        126.98%         $33,333.33     $3,900,000.00        $26,666.67      $1,179,050.40       $5,079,050.40
      5       2/1/02        125.67%         $33,333.33     $3,866,666.67        $26,666.67      $1,160,244.07       $5,026,910.74
      6       3/1/02        124.37%         $33,333.33     $3,833,333.33        $26,666.67      $1,141,312.37       $4,974,645.70
      7       4/1/02        123.06%         $33,333.33     $3,800,000.00        $26,666.67      $1,122,254.45       $4,922,254.45
      8       5/1/02        121.74%         $33,333.33     $3,766,666.67        $26,666.67      $1,103,069.48       $4,869,736.15
      9       6/1/02        120.43%         $33,333.33     $3,733,333.33        $26,666.67      $1,083,756.61       $4,817,089.94
     10       7/1/02        119.11%         $33,333.33     $3,700,000.00        $26,666.67      $1,064,314.99       $4,764,314.99
     11       8/1/02        117.79%         $33,333.33     $3,666,666.67        $26,666.67      $1,044,743.75       $4,711,410.42
     12       9/1/02        116.46%         $33,333.33     $3,633,333.33        $26,666.67      $1,025,042.04       $4,658,375.38
     13      10/1/02        115.13%         $33,333.33     $3,600,000.00        $26,666.67      $1,005,208.99       $4,605,208.99
     14      11/1/02        113.80%         $33,333.33     $3,566,666.67        $26,666.67      $  985,243.72       $4,551,910.38
     15      12/1/02        112.46%         $33,333.33     $3,533,333.33        $26,666.67      $  965,145.34       $4,498,478.68
     16       1/1/03        111.12%         $33,333.33     $3,500,000.00        $16,000.00      $  944,912.98       $4,444,912.98
     17       2/1/03        110.05%         $33,333.33     $3,466,666.67        $16,000.00      $  935,212.40       $4,401,879.07
     18       3/1/03        108.97%         $33,333.33     $3,433,333.33        $16,000.00      $  925,447.15       $4,358,780.48
     19       4/1/03        107.89%         $33,333.33     $3,400,000.00        $16,000.00      $  915,616.80       $4,315,616.80
     20       5/1/03        106.81%         $33,333.33     $3,366,666.67        $16,000.00      $  905,720.91       $4,272,387.57
     21       6/1/03        105.73%         $33,333.33     $3,333,333.33        $16,000.00      $  895,759.05       $4,229,092.38
     22       7/1/03        104.64%         $33,333.33     $3,300,000.00        $16,000.00      $  885,730.77       $4,185,730.77
     23       8/1/03        103.56%         $33,333.33     $3,266,666.67        $16,000.00      $  875,635.65       $4,142,302.31
     24       9/1/03        102.47%         $33,333.33     $3,233,333.33        $16,000.00      $  865,473.22       $4,098,806.55
     25      10/1/03        101.38%         $33,333.33     $3,200,000.00        $16,000.00      $  855,243.04       $4,055,243.04
     26      11/1/03        100.29%         $33,333.33     $3,166,666.67        $16,000.00      $  844,944.66       $4,011,611.32
     27      12/1/03         99.20%         $33,333.33     $3,133,333.33        $16,000.00      $  834,577.62       $3,967,910.96
     28       1/1/04         98.10%         $33,333.33     $3,100,000.00        $50,960.00      $  824,141.47       $3,924,141.47
     29       2/1/04         96.13%         $33,333.33     $3,066,666.67        $50,960.00      $  778,675.75       $3,845,342.42
     30       3/1/04         94.16%         $33,333.33     $3,033,333.33        $50,960.00      $  732,906.92       $3,766,240.25
     31       4/1/04         92.17%         $33,333.33     $3,000,000.00        $50,960.00      $  686,832.97       $3,686,832.97
     32       5/1/04         90.18%         $33,333.33     $2,966,666.67        $50,960.00      $  640,451.85       $3,607,118.52
     33       6/1/04         88.18%         $33,333.33     $2,933,333.33        $50,960.00      $  593,761.53       $3,527,094.87
     34       7/1/04         86.17%         $33,333.33     $2,900,000.00        $50,960.00      $  546,759.94       $3,446,759.94
     35       8/1/04         84.15%         $33,333.33     $2,866,666.67        $50,960.00      $  499,445.01       $3,366,111.68
</Table>

<PAGE>

The Termination Value of the Aircraft shall be set forth opposite the applicable
rent payment, plus accrued interest to such date.

CAPITALIZED LESSOR'S COST:          $4,000,000.00

<Table>
<Caption>
                                               (1)              (2)                (3)              (4)              (2) + (4)
                         Termination         Ten Year                            Monthly        Present Value
Payment      Monthly      Value as a      Straight-Line     Unamortized        Depreciation    of Depreciation      Termination
Number       Period       % of Cost       Amortization        Balance            Benefits         Benefits             Value
<S>          <C>         <C>              <C>              <C>                 <C>             <C>                  <C>
     36       9/1/04         82.13%         $33,333.33     $2,833,333.33        $50,960.00      $  451,814.64       $3,285,147.98
     37      10/1/04         80.10%         $33,333.33     $2,800,000.00        $50,960.00      $  403,866.74       $3,203,866.74
     38      11/1/04         78.06%         $33,333.33     $2,766,666.67        $50,960.00      $  355,599.19       $3,122,265.85
     39      12/1/04         76.01%         $33,333.33     $2,733,333.33        $50,960.00      $  307,009.85       $3,040,343.18
     40       1/1/05         73.95%         $33,333.33     $2,700,000.00        $15,360.00      $  258,096.58       $2,958,096.58
     41       2/1/05         72.78%         $33,333.33     $2,666,666.67        $15,360.00      $  244,457.22       $2,911,123.89
     42       3/1/05         71.60%         $33,333.33     $2,633,333.33        $15,360.00      $  230,726.94       $2,864,060.27
     43       4/1/05         70.42%         $33,333.33     $2,600,000.00        $15,360.00      $  216,905.12       $2,816,905.12
     44       5/1/05         69.24%         $33,333.33     $2,566,666.67        $15,360.00      $  202,991.15       $2,769,657.82
     45       6/1/05         68.06%         $33,333.33     $2,533,333.33        $15,360.00      $  188,984.43       $2,722,317.76
     46       7/1/05         66.87%         $33,333.33     $2,500,000.00        $15,360.00      $  174,884.32       $2,674,884.32
     47       8/1/05         65.68%         $33,333.33     $2,466,666.67        $15,360.00      $  160,690.22       $2,627,356.88
     48       9/1/05         64.49%         $33,333.33     $2,433,333.33        $15,360.00      $  146,401.49       $2,579,734.82
     49      10/1/05         63.30%         $33,333.33     $2,400,000.00        $15,360.00      $  132,017.50       $2,532,017.50
     50      11/1/05         62.11%         $33,333.33     $2,366,666.67        $15,360.00      $  117,537.61       $2,484,204.28
     51      12/1/05         60.91%         $33,333.33     $2,333,333.33        $15,360.00      $  102,961.20       $2,436,294.53
     52       1/1/06         59.71%         $33,333.33     $2,300,000.00        $ 7,680.00      $   88,287.60       $2,388,287.60
     53       2/1/06         58.70%         $33,333.33     $2,266,666.67        $ 7,680.00      $   81,196.19       $2,347,862.85
     54       3/1/06         57.68%         $33,333.33     $2,233,333.33        $ 7,680.00      $   74,057.50       $2,307,390.83
     55       4/1/06         56.67%         $33,333.33     $2,200,000.00        $ 7,680.00      $   66,871.21       $2,266,871.21
     56       5/1/06         55.66%         $33,333.33     $2,166,666.67        $ 7,680.00      $   59,637.02       $2,226,303.69
     57       6/1/06         54.64%         $33,333.33     $2,133,333.33        $ 7,680.00      $   52,354.60       $2,185,687.93
     58       7/1/06         53.63%         $33,333.33     $2,100,000.00        $ 7,680.00      $   45,023.63       $2,145,023.63
     59       8/1/06         52.61%         $33,333.33     $2,066,666.67        $ 7,680.00      $   37,643.79       $2,104,310.46
     60       9/1/06         51.59%         $33,333.33     $2,033,333.33        $ 7,680.00      $   30,214.75       $2,063,548.08
     61      10/1/06         50.57%         $33,333.33     $2,000,000.00        $ 7,680.00      $   22,736.18       $2,022,736.18
     62      11/1/06         49.55%         $33,333.33     $1,966,666.67        $ 7,680.00      $   15,207.75       $1,981,874.42
     63      12/1/06         48.52%         $33,333.33     $1,933,333.33        $ 7,680.00      $    7,629.14       $1,940,962.47
     64       1/1/07         47.50%         $33,333.33     $1,900,000.00                                            $1,900,000.00
     65       2/1/07         46.67%         $33,333.33     $1,866,666.67                                            $1,866,666.67
     66       3/1/07         45.83%         $33,333.33     $1,833,333.33                                            $1,833,333.33
     67       4/1/07         45.00%         $33,333.33     $1,800,000.00                                            $1,800,000.00
     68       5/1/07         44.17%         $33,333.33     $1,766,666.67                                            $1,766,666.67
     69       6/1/07         43.33%         $33,333.33     $1,733,333.33                                            $1,733,333.33
     70       7/1/07         42.50%         $33,333.33     $1,700,000.00                                            $1,700,000.00
     71       8/1/07         41.67%         $33,333.33     $1,666,666.67                                            $1,666,666.67
     72       9/1/07         40.83%         $33,333.33     $1,633,333.33                                            $1,633,333.33
     73      10/1/07         40.00%         $33,333.33     $1,600,000.00                                            $1,600,000.00
     74      11/1/07         39.17%         $33,333.33     $1,566,666.67                                            $1,566,666.67
     75      12/1/07         38.33%         $33,333.33     $1,533,333.33                                            $1,533,333.33
     76       1/1/08         37.50%         $33,333.33     $1,500,000.00                                            $1,500,000.00
</Table>

<PAGE>

The Termination Value of the Aircraft shall be set forth opposite the applicable
rent payment, plus accrued interest to such date.

CAPITALIZED LESSOR'S COST:          $4,000,000.00

<Table>
<Caption>
                                               (1)              (2)                (3)              (4)              (2) + (4)
                         Termination         Ten Year                            Monthly        Present Value
Payment      Monthly      Value as a      Straight-Line     Unamortized        Depreciation    of Depreciation      Termination
Number       Period       % of Cost       Amortization        Balance            Benefits         Benefits             Value
<S>          <C>         <C>              <C>              <C>                 <C>             <C>                  <C>
     77       2/1/08         36.67%         $33,333.33     $1,466,666.67                                            $1,466,666.67
     78       3/1/08         35.83%         $33,333.33     $1,433,333.33                                            $1,433,333.33
     79       4/1/08         35.00%         $33,333.33     $1,400,000.00                                            $1,400,000.00
     80       5/1/08         34.17%         $33,333.33     $1,366,666.67                                            $1,366,666.67
     81       6/1/08         33.33%         $33,333.33     $1,333,333.33                                            $1,333,333.33
     82       7/1/08         32.50%         $33,333.33     $1,300,000.00                                            $1,300,000.00
     83       8/1/08         31.67%         $33,333.33     $1,266,666.67                                            $1,266,666.67
     84       9/1/08         30.83%         $33,333.33     $1,233,333.33                                            $1,233,333.33
     85      10/1/08         30.00%         $33,333.33     $1,200,000.00                                            $1,200,000.00
     86      11/1/08         29.17%         $33,333.33     $1,166,666.67                                            $1,166,666.67
     87      12/1/08         28.33%         $33,333.33     $1,133,333.33                                            $1,133,333.33
     88       1/1/09         27.50%         $33,333.33     $1,100,000.00                                            $1,100,000.00
     89       2/1/09         26.67%         $33,333.33     $1,066,666.67                                            $1,066,666.67
     90       3/1/09         25.83%         $33,333.33     $1,033,333.33                                            $1,033,333.33
     91       4/1/09         25.00%         $33,333.33     $1,000,000.00                                            $1,000,000.00
     92       5/1/09         24.17%         $33,333.33     $  966,666.67                                            $  966,666.67
     93       6/1/09         23.33%         $33,333.33     $  933,333.33                                            $  933,333.33
     94       7/1/09         22.50%         $33,333.33     $  900,000.00                                            $  900,000.00
     95       8/1/09         21.67%         $33,333.33     $  866,666.67                                            $  866,666.67
     96       9/1/09         20.83%         $33,333.33     $  833,333.33                                            $  833,333.33
     97      10/1/09         20.00%         $33,333.33     $  800,000.00                                            $  800,000.00
     98      11/1/09         19.17%         $33,333.33     $  766,666.67                                            $  766,666.67
     99      12/1/09         18.33%         $33,333.33     $  733,333.33                                            $  733,333.33
    100       1/1/10         17.50%         $33,333.33     $  700,000.00                                            $  700,000.00
    101       2/1/10         16.67%         $33,333.33     $  666,666.67                                            $  666,666.67
    102       3/1/10         15.83%         $33,333.33     $  633,333.33                                            $  633,333.33
    103       4/1/10         15.00%         $33,333.33     $  600,000.00                                            $  600,000.00
    104       5/1/10         14.17%         $33,333.33     $  566,666.67                                            $  566,666.67
    105       6/1/10         13.33%         $33,333.33     $  533,333.33                                            $  533,333.33
    106       7/1/10         12.50%         $33,333.33     $  500,000.00                                            $  500,000.00
    107       8/1/10         11.67%         $33,333.33     $  466,666.67                                            $  466,666.67
    108       9/1/10         10.83%         $33,333.33     $  433,333.33                                            $  433,333.33
    109      10/1/10         10.00%         $33,333.33     $  400,000.00                                            $  400,000.00
    110      11/1/10          9.17%         $33,333.33     $  366,666.67                                            $  366,666.67
    111      12/1/10          8.33%         $33,333.33     $  333,333.33                                            $  333,333.33
    112       1/1/11          7.50%         $33,333.33     $  300,000.00                                            $  300,000.00
    113       2/1/11          6.67%         $33,333.33     $  266,666.67                                            $  266,666.67
    114       3/1/11          5.83%         $33,333.33     $  233,333.33                                            $  233,333.33
    115       4/1/11          5.00%         $33,333.33     $  200,000.00                                            $  200,000.00
    116       5/1/11          4.17%         $33,333.33     $  166,666.67                                            $  166,666.67
    117       6/1/11          3.33%         $33,333.33     $  133,333.33                                            $  133,333.33
</Table>

<PAGE>

The Termination Value of the Aircraft shall be set forth opposite the applicable
rent payment, plus accrued interest to such date.

CAPITALIZED LESSOR'S COST:          $4,000,000.00

<Table>
<Caption>
                                               (1)              (2)                (3)              (4)              (2) + (4)
                         Termination         Ten Year                            Monthly        Present Value
Payment      Monthly      Value as a      Straight-Line     Unamortized        Depreciation    of Depreciation      Termination
Number       Period       % of Cost       Amortization        Balance            Benefits         Benefits             Value
<S>          <C>         <C>              <C>              <C>                 <C>             <C>                  <C>
    118       7/1/11          2.50%         $33,333.33     $  100,000.00                                            $  100,000.00
    119       8/1/11          1.67%         $33,333.33     $   66,666.67                                            $   66,666.67
    120       9/1/11          0.83%         $33,333.33     $   33,333.33                                            $   33,333.33
</Table>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}]]