Document:

EXHIBIT
10.6

WS MIDWAY
HOLDINGS, INC.

STOCK OPTION PLAN

Section 1.               Purpose

The
Plan authorizes the Committee to provide persons or entities that are
providing, or have agreed to provide, services to the Company or its
Affiliates, who are in a position to contribute to the long-term success of the
Company or its Affiliates, with Options to acquire Shares.  The Company believes that this incentive
program will cause those persons to increase their interest in the welfare of
the Company and its Affiliates, and aid in attracting, retaining and motivating
persons of outstanding ability.

Section 2.               Definitions

Capitalized
terms used herein shall have the meanings set forth in this Section.

(a)           “Affiliate”
shall mean any person or entity that, either directly or indirectly through one
or more intermediaries, (i) controls the Company, or (ii) is
controlled by the Company or a person described in clause (i).

(b)           “Code”
means the Internal Revenue Code of 1986, as amended.

(c)           “Committee” shall mean the
Compensation Committee of the Board of Directors of the Company.

(d)           “Company”
shall mean WS Midway Holdings, Inc., a corporation organized under the laws of
the State of Delaware.

(e)           “Employee”
shall mean any person or entity that is providing, or has agreed to provide,
services to the Company or an Affiliate of the Company, whether as an employee,
director or independent contractor.

(f)            “Fair Market Value” of a Share on
any given date shall be determined by the Committee, in its discretion,
provided, that such value shall not be less than the fair market value within
the meaning of Section 409A of the Code.

(g)                                 “Grantee” shall mean an Employee granted
an Option under the Plan.

(h)           “ISO” shall mean any Option or
portion thereof that meets the requirements of an incentive stock option under
Section 422 of the Internal Revenue Code of 1986, as amended.

(i)            “Nonqualified Option” shall mean any
Option or portion thereof that is not an ISO.

(j)            “Option Agreement” shall mean a
written agreement between the Company and the Grantee, evidencing the grant of
an Option hereunder and containing such terms and conditions, not inconsistent
with the express provisions of the Plan, as the Committee shall approve.

(k)           “Options” shall refer to Series A
Options and Series B Options issued under and subject to the Plan.

(l)            “Performance-Based Vesting” shall
have the meaning set forth in Section 5.

(m)          “Plan” shall mean this Option Plan as
set forth herein and as amended from time to time.

(n)           “Sale of the Company” means the sale
of the Company (whether by merger, consolidation, recapitalization,
reorganization, sale of securities, sale of assets or otherwise) in one
transaction or a series of related transactions to a person or entity not an
affiliate, directly or indirectly, of Wellspring Capital, pursuant to which
such person or entity (together with its affiliates) acquires (i) securities
representing at least a majority of the voting power of all securities of the
Company, assuming the conversion, exchange or exercise of all securities convertible,
exchangeable or exercisable for or into voting securities, or (ii) all or
substantially all of the Company’s assets on a consolidated basis.

(o)           “Series A Options” shall be options
issued under and subject to the Plan. 
One-half of the Series A Options shall be subject to Time-Based Vesting
and one-half of the Series A Options shall be subject to Performance-Based
Vesting, as set forth in Section 5.

(p)           “Series B Options” shall be options
issued under and subject to the Plan. 
All Series B Options shall be subject to Performance-Based Vesting, as
set forth in Section 5.

(q)           “Share” shall mean a share of common
stock of the Company.

(r)            “Stockholders Agreement” shall mean
the Stockholders Agreement, dated as of March 8, 2006, among the Company and
its stockholders, as the same may thereafter be amended from time to time.

(s)           “Time-Based Vesting” shall have the
meaning set forth in Section 5.

(t)            “Wellspring Capital” means
Wellspring Capital Partners III, LP.

(u)           “Wellspring IRR” shall equal the
discount rate (compounded annually) which causes (i) the present value as of
March 8, 2006 of all amounts received by Wellspring Capital and its affiliates
in respect of the sale, exchange or redemption of their Shares, plus any
dividends, to equal (ii) the present value as of March 8, 2006 of all equity
investments in the Company made by Wellspring Capital and its affiliates.

(v)           “Wellspring Liquidity Event” means a
sale, exchange or redemption of substantially all Shares held by Wellspring
Capital and its affiliates pursuant to which Wellspring Capital and its
affiliates receive cash in respect of such Shares.

Section 3.               Shares Available under the
Plan

Subject
to the provisions of Section 7, the total number of Shares with respect to
which Options may be granted under the Plan shall not exceed 19,076, inclusive
of both Series A Options and Series B Options. 
If, prior to exercise, any Options are forfeited, lapse or terminate for
any reason, the Shares covered thereby may again be available for Option grants
under the Plan.

Section 4.               Administration of the Plan

(a)           Authority of the Committee.  The Plan shall be administered by the
Committee.  The Committee shall have full
and final authority to take the following actions, in each case subject to and
consistent with the provisions of the Plan:

(i)       to select the Employees to whom Options
may be granted;

(ii)      to determine the number of Shares subject
to each such Option;

(iii)     to determine the terms and conditions of
any Option granted under the Plan, including the exercise price, conditions
relating to exercise, and termination of the right to exercise;

(iv)    to determine the restrictions or conditions
related to the delivery, holding and disposition of Shares acquired upon
exercise of an Option;

(v)     to prescribe the form of each Option
Agreement;

(vi)    to adopt, amend, suspend, waive and rescind
such rules and regulations and appoint such agents as the Committee may deem
necessary or advisable to administer the Plan;

(vii)   to correct any defect or supply any omission
or reconcile any inconsistency in the Plan and to construe and interpret the
Plan and any Option,  Option Agreement or
other instrument hereunder; and

(viii)  to make all other decisions and determinations
as may be required under the terms of the Plan or as the Committee may deem
necessary or advisable for the administration of the Plan.

(b)           Manner of Exercise of Committee
Authority.  Any action of the
Committee with respect to the Plan shall be final, conclusive and binding on
all persons, including the Company, its Affiliates, Grantees, and any person
claiming any rights under the Plan from or through any Grantee, except to the
extent the Committee may subsequently modify, or take further action not
inconsistent with, its prior action.  If
not specified in the Plan, the time at which the Committee must or may make any
determination shall be determined by the Committee, and any such determination
may thereafter be modified by the Committee (subject to Section 10).  The express grant of any specific power to
the Committee, and the taking of any action by the Committee, shall not be
construed as limiting any power or authority of the Committee.  The Committee may delegate to officers or
managers of the Company or any Affiliate of the Company the authority, subject
to such terms as the Committee shall determine, to perform such functions as
the Committee may determine, to the extent permitted under applicable law.

(c)           Limitation of Liability.  Each member of the Committee shall be
entitled to, in good faith, rely or act upon any report or other information
furnished to him by any officer or other employee of the Company or any of its
Affiliates, the Company’s independent certified public accountants or any
executive compensation consultant, legal counsel or other professional retained
by the Company to assist in the administration of the Plan.  To the fullest extent permitted by applicable
law, no member of the Committee, nor any officer or employee of the Company
acting on behalf of the Committee, shall be personally liable for any action,
determination or interpretation taken or made in good faith with respect to the
Plan, and all members of the Committee and any officer or employee of the
Company acting on its behalf shall, to the extent permitted by law, be fully indemnified
and protected by the Company with respect to any such action, determination or
interpretation.

Section 5.               Option Terms.

Unless otherwise
determined by the Committee and set forth in an Option Agreement, Options
granted under the Plan shall contain the following terms and conditions:

                (a)           Exercise Price. 
The exercise price per Share subject to an Option granted to an Employee
shall be not less than the Fair Market Value per Share as of the date the
Option is granted.

(b)           Vesting.  Each Series A Option that is designated as
subject to Time-Based Vesting (which shall equal one-half of the total Series A
Options) shall vest ratably over a period of five years, commencing on the date
of the Series A Option grant.  Vesting as
of any vesting date shall be conditional on continued employment through the
vesting date.  Notwithstanding the
foregoing, upon a Sale of the Company or a Wellspring Liquidity Event, all
Series A Options then outstanding that are subject to Time-Based Vesting shall
become fully vested.

As to the portion
of each Series A Option that is designated as subject to Performance-Based
Vesting (which shall equal one-half of the total Series A Options), each option
shall vest only upon a Sale of the Company or a Wellspring Liquidity Event, to
the extent that (i) the Series A Option Grantee is employed through the date of
such Sale of the Company or Wellspring Liquidity Event, and (ii) the Wellspring
IRR associated with such Sale of the Company or Wellspring Liquidity Event
exceeds 15%.  Series A Options then
outstanding shall vest ratably only up to the point that any further vesting
(and assumed exercise) would cause the Wellspring IRR to fall below 15%.  In the event that no Sale of the Company or
Wellspring Liquidity Event occurs within five years of the date of this Plan,
the Company will be valued by a third party, at the discretion of the
Committee, for purposes of determining the implied Wellspring IRR, which shall
then be used to determine vesting of Performance-Based Vesting Series A Options
in accordance with this paragraph, as if a Wellspring Liquidity Event had
occurred on the fifth anniversary of the date of this Plan.

Each Series B
Option shall vest only upon a Sale of the Company or a Wellspring Liquidity
Event, to the extent that (i) the Series B Option Grantee is employed through
the date of such Sale of the Company or Wellspring Liquidity Event, (ii) all
Series A Options have or will concurrently become vested, and (iii) the
Wellspring IRR associated with such Sale of the Company or Wellspring Liquidity
Event exceeds 25%.  Series B Options then
outstanding shall vest ratably only up to the point that any further vesting
(and assumed exercise) would cause the Wellspring IRR to fall below 25%.

(c)           Termination.  Unless otherwise determined by the Committee
at the time of grant of such Option, each Option shall terminate on the tenth
anniversary of the date of grant.

(d)           Tax Status.  Each Option granted under the Plan shall be
treated as a Nonqualified Option.

Section 6.               Exercise of Options

(a)           Only the vested portion of any Option
may be exercised.  A Grantee shall
exercise an Option by delivery of written notice to the Company setting forth
the number of Shares with respect to which the Option is to be exercised,
together with a check payable to the order of the Company for an amount equal
to the exercise price for such Shares; provided, however, that in lieu of
providing such check, the Grantee may utilize a cashless exercise in which the
Grantee will be issued a number of Shares equal to N(FMV-EP)/FMV, where N is
the number of Shares issuable upon exercise, FMV is the Fair Market Value of
one Share on the date of exercise and EP is the exercise price of the Option
being exercised.

(b)           Before the Company issues any Shares
to a Grantee pursuant to the exercise of an Option, the Company shall have the
right to require that the Grantee make such provision, or furnish the Company
such authorization, necessary or desirable so that the Company may satisfy its
obligation under applicable income tax laws to withhold for income or other
taxes due upon or incident to such exercise. 
The Committee, may, in its discretion, permit such withholding
obligation to be satisfied through the withholding of Shares that would
otherwise be delivered upon exercise of the Option.

(c)          If a Grantee dies or becomes disabled
prior to the termination of an Option without having exercised the Option as to
all of the then vested portion thereof, the Option may be exercised with
respect to such vested portion all or a portion by (i) the Grantee’s estate or
a person who acquired the right to exercise the Option by bequest or
inheritance or by reason of the death of the Grantee in the event of the
Grantee’s death, or (ii) the Grantee or his personal representative or attorney-in-fact
in the event of the Grantee’s disability, subject to the other terms of the
Option Agreement and applicable laws, rules and regulations.

(d)           As a condition to the grant of an
Option or delivery of any Shares upon exercise of an Option, the Company shall
have the right to require that the Grantee become party to the Stockholders
Agreement, or any similar or successor agreement.

Section 7.               Adjustment Upon Changes in
Capitalization

In the event any
recapitalization, forward or reverse split, reorganization, merger,
consolidation, spin-off, combination, repurchase, or exchange of Shares or
other securities, any stock dividend or other special and nonrecurring dividend
or distribution (whether in the form of cash, securities or other property), liquidation,
dissolution, or other similar transactions or events, affects the Shares such
that an adjustment is appropriate in order to prevent dilution or enlargement
of the rights of Grantees under the Plan, then the Committee shall make
equitable adjustment in (i) the number and kind of Shares deemed to be
available thereafter for grants of Options under Section 3, (ii) the number and
kind of Shares that may be delivered or deliverable in respect of outstanding
Options, or (iii) the exercise price.  In
addition, the Committee is authorized to make adjustments in the terms and
conditions of, and the criteria included in, Options (including, without
limitation, cancellation of Options in exchange for the in-the-money value, if
any, of the vested portion thereof, cancellation of unvested and/or
out-of-the-money options, substitution of Options using securities of a
successor or other entity, or acceleration of the time that Options expire) in
recognition of unusual or nonrecurring events (including, without limitation, a
Sale of the Company, a Wellspring Liquidity Event, or an event described in the
preceding sentence) affecting the Company or any Affiliate of the Company or
the financial statements of the Company or any Affiliate of the Company, or in
response to changes in applicable laws, regulations or accounting principles.

Section 8.               Restrictions on Issuing Shares.

No Shares shall be
issued or transferred to a Grantee under the Plan unless and until all
applicable legal requirements have been complied with to the satisfaction of
the Committee.  The Committee shall have
the right to condition the exercise of any Option on the Grantee’s undertaking
in writing to comply with such restrictions on any subsequent disposition of
the Shares issued or transferred thereunder as the Committee shall deem
necessary or advisable as a result of any applicable law, regulation, official
interpretation thereof, or any underwriting agreement.

Section 9.               General Provisions

(a)           Each Option shall be evidenced by an
Option Agreement.  The terms and
provisions of such certificates may vary among Grantees and among different
Options granted to the same Grantee.

(b)           The grant of an Option in any year
shall not give the Grantee any right to similar grants in future years, any
right to continue such Grantee’s employment relationship with the Company or
its Affiliates, or, until such Option is exercised and Shares are issued, any
rights as a stockholder of  the
Company.  All Grantees shall remain
subject to discharge to the same extent as if the Plan were not in effect.  For purposes of the Plan, a sale of any
Affiliate of the Company that employs or engages a Grantee shall be treated as
the termination of such Grantee’s employment or engagement.

(c)           No Grantee, and no beneficiary or
other persons claiming under or through the Grantee, shall have any right,
title or interest by reason of any Option to any particular assets of the
Company or Affiliates of the Company, or any Shares allocated or reserved for
the purposes of the Plan or subject to any Option except as set forth
herein.  The Company shall not be
required to establish any fund or make any other segregation of assets to
assure satisfaction of the Company’s obligations under the Plan.

(d)            No Option may be sold, transferred,
assigned, pledged or otherwise encumbered, except by will or the laws of
descent and distribution, and an Option shall be exercisable during the Grantee’s
lifetime only by the Grantee.  Upon a
Grantee’s death, the estate or other beneficiary of such deceased Grantee shall
be subject to all the terms and conditions of the Plan and Option Agreement,
including the provisions relating to the termination of the right to exercise
the Option.

Section 10.             Amendment or Termination

The Committee may,
at any time, alter, amend, suspend, discontinue or terminate this Plan; provided,
however, that, except as provided in Section 7, no such action shall
adversely affect the rights of Grantees with respect to Options previously
granted hereunder.

Section 11.             Section 409A.

To
the extent this Plan provides for nonqualified deferred compensation, it is
intended to satisfy the provisions of Section 409A of the Code and related
regulations.  If any provision herein
results in the imposition of an excise tax on any Grantee under Section 409A of the Code, any such provision
will be reformed to avoid any such imposition in such manner as the Committee
determines is appropriate to comply with Section 409A of the Code.

Section 12.             Date of Plan.

This
Plan shall be dated as of December 11, 2006.Ex-10.4

    Phoenix
      Aerospace, Inc.

    2201
      Lockheed Way

    Carson
      City, Nevada 89706

    

    December
      12, 2006

    

    Mr.
      Erik
      A. Kudlis

    67
      Maple
      Street

    Jewett
      City, CT 06351

     

    Re: Debt
      Conversion Agreement

    

    Dear
      Erik:

    

    Reference
      is made to promissory note dated September 1, 2005 issued by Phoenix Aerospace,
      Inc. (the “Company”)
      to
      you, a copy of which is attached to this letter agreement as Exhibit
      A.

    

    This
      letter agreement confirms our recent discussions during which you were informed
      that the Company contemplates becoming a wholly owned subsidiary of Phoenix
      International Ventures, Inc., a Nevada corporation, and our mutual desire that
      the Company’s debt to you be converted under certain conditions into common
      stock of Phoenix International Ventures, Inc. As a part of this transaction,
      Zahir Teja will continue to serve as the President and CEO of the Company and
      will also serve as President and CEO of Phoenix International Ventures,
      Inc.

    

    	1.  	
            The
              Debt.
              As of the date hereof, the aggregate amount of the outstanding principal
              amount, accrued but unpaid interest, and all other amounts due and
              payable
              under the Note is: $75,000 (collectively the “Debt”).
              Aside from the Debt, the Company is not otherwise indebted to
              you.

          

    

    	2.  	
            Agreement
              to Convert Note into Common Stock.
              Upon the terms and subject to the conditions hereinafter set forth,
              you
              hereby agree to accept in full satisfaction of the Debt the right to
              receive such number of shares of the Company that equals 150,000 shares
              of
              Phoenix International Ventures, Inc. common stock, par value $.001
              per
              share (collectively, the “Securities”).
              To this end, simultaneous with the execution and delivery of this letter
              agreement, you hereby tender the Note, marked “cancelled”. The Company
              will cause Phoenix International Ventures, Inc. (“PIV”)
              to issue certificate(s) representing the Securities promptly after
              the
              closing of the anticipated acquisition of all the outstanding capital
              stock of the Company by PIV (the “PIV
              Acquisition”).

          

    

    	3.  	
            Representations
              and Warranties.
              You represent and warrant to the Company as follows, which representations
              and warranties shall survive the execution and delivery of this letter
              agreement and the consummation of the transactions contemplated
              hereby:

          

    

    
      	 	
              (a)

            	
              In
                making the decision to invest in the Securities, you have discussed
                with
                your counsel the representations, warranties and agreements which
                you are
                making in this letter agreement, the applicable limitations upon
                the
                resale of the Securities, and the investment, tax and legal consequences
                of this investment. You disclaim reliance on any statements made
                or
                information provided by any person or entity in the course of your
                consideration of an investment in the
                Securities.

            

    

    

    
      	 	
              (b)

            	
              You
                understand that no federal or state agency has made any finding or
                determination regarding the fairness of this investment or any
                recommendation or endorsement of this
                investment.

            

    

    

    
      	 	
              (c)

            	
              You
                are purchasing the Securities for your own account, with the intention
                of
                holding the Securities for investment purposes, with no present intention
                of dividing or allowing others to participate in this investment
                or of
                reselling or otherwise participating, directly or indirectly, in
                a
                distribution of the Securities; and shall not make any sale, transfer
                or
                other disposition of the Securities without registration under the
                1933
                Act and applicable state securities laws unless an exemption from
                registration is available under those laws. You are not acquiring
                any
                portion of the Securities or any interest therein, on behalf of another
                person. No person other than you has
                any direct or indirect beneficial interest in the Securities purchased
                hereunder by you.

            

    

    

    
      	 	
              (d)

            	
              Your
                overall commitment to investments which are not readily marketable
                is not
                disproportionate to your net worth, and your investment in the Securities
                will not cause such overall commitment to become
                excessive.

            

    

    

    
      	 	
              (e)

            	
              You
                have adequate means of providing for your current needs and personal
                and
                family contingencies and have no need for liquidity in your investment
                in
                the Securities.

            

    

    

    
      	 	
              (f)

            	
              You
                are an “accredited investor” as that term is defined in Rule 501(a) under
                Regulation D promulgated by the Securities and Exchange Commission
                (the
                “SEC”)
                under the 1933 Act. You are financially able to bear the economic
                risk of
                this investment, including the ability to afford holding the Securities
                for an indefinite period or to afford a complete loss of this
                investment.

            

    

    

    
      	 	
              (g)

            	
              The
                address set forth above is your principal
                residence.

            

    

    

    
      	 	
              (h)

            	
              You
                have such knowledge and experience in financial business matters
                as to be
                capable of evaluating the merits and risks of an investment in the
                Securities. You
                acknowledge that this letter agreement does not contain all information
                that is necessary to make an investment decision with respect to
                the
                Company and the Securities and that you must rely on your own examination
                of the Company and the terms and conditions of this investment prior
                to
                making any investment decision with respect to the Securities.
                

            

    

    

    
      	 	
              (i)

            	
              You
                have been given the opportunity to ask questions of and receive answers
                from the Company and its executive officers concerning the business
                and
                operations of the Company and the terms, provisions, and conditions
                of
                this investment and to obtain any such additional information that
                you
                deem necessary or advisable in order to evaluate an investment in
                the
                Company; and you have availed yourself of such opportunity to the
                extent
                considered appropriate in order to evaluate the merits and risks
                of the
                proposed investment.

            

    

    

    
      	 	
              (j)

            	
              You
                have made an independent evaluation of the merits of this investment
                and
                acknowledge the high risk nature of the
                investment.

            

      	 	 	 

    

    
      	 	
              (k)

            	
              You
                understand that none of the Securities have been registered under
                the 1933
                Act or any state securities laws in reliance on exemptions for private
                offerings; the Securities cannot be resold or otherwise disposed
                of unless
                they are subsequently registered under the 1933 Act and applicable
                state
                securities laws or an exemption from registration is available. The
                certificate(s) representing the Securities will bear a legend
                substantially similar to the legend set forth immediately below until
                (1)
                such Securities shall have been registered under the 1933 Act and
                effectively disposed of in accordance with a registration statement,
                or
                (2) in the opinion of counsel reasonably satisfactory to the Company
                such
                securities may be sold without registration under the 1933
                Act:

            

      	 	 	 

      	 	 	“THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER
              THE
              SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR THE "BLUE SKY"
              OR
              SECURITIES LAWS OF ANY STATE AND MAY NOT BE OFFERED, SOLD, PLEDGED,
              HYPOTHECATED, ASSIGNED OR TRANSFERRED EXCEPT (i) PURSUANT TO A
              REGISTRATION STATEMENT UNDER THE 1933 ACT WHICH HAS BECOME EFFECTIVE
              AND
              IS CURRENT WITH RESPECT TO THESE SECURITIES, OR (ii) PURSUANT TO A
              SPECIFIC EXEMPTION FROM REGISTRATION UNDER THE 1933 ACT BUT ONLY UPON
              A
              HOLDER THEREOF FIRST HAVING OBTAINED THE WRITTEN OPINION OF COUNSEL
              REASONABLY SATISFACTORY TO THE COMPANY, THAT THE PROPOSED DISPOSITION
              IS
              CONSISTENT WITH ALL APPLICABLE PROVISIONS OF THE 1933 ACT AS WELL AS
              ANY
              APPLICABLE "BLUE SKY" OR SIMILAR SECURITIES
              LAWS."

      	 	 	 

      	 	(l) 	You
              understand that in the absence of registration by the Company, the
              Securities will not be, and, except as set forth below, you will have
              no
              rights to require that the Securities shall be, registered under the
              1933
              Act or any state securities laws; you may have to hold the Securities
              indefinitely and it may not be possible for you to liquidate your
              investment in the Company; and you should not purchase any Securities
              unless you can afford a complete loss of your investment and bear the
              burden of such loss for an indefinite period of
              time.

    

     

    
      	 	
              (4)

            	
              Registration
                Rights.

            

    

    

    
      	 	
              (a)

            	
              At
                any time after the date hereof, in the event that the Company shall
                determine to proceed with the actual preparation and filing of a
                registration statement under the 1933 Act in connection with the
                proposed
                initial public offer and sale of any of its Shares by it or by any
                of its
                security holders (other than a registration statement on Form S-4,
                S-8 or
                other successor or comparable forms), the Company, on one occasion
                only,
                will give written notice of its determination (the “Piggyback
                Notice”)
                to you at least forty-five (45) days prior to filing such registration
                statement. Upon your written request within thirty (30) days after
                the
                giving of the Piggyback Notice, the Company will cause such Securities
                to
                be included in such registration statement, all to the extent required
                to
                permit the sale or other disposition by you of the Securities to
                be so
                registered; provided, that nothing herein shall prevent the Company
                from,
                at any time, abandoning or delaying any such Company initiated
                registration. If any registration pursuant to this Section 4 shall
                be
                underwritten in whole or in part, the Company may require that the
                Securities requested for inclusion pursuant to this Section 4 be
                included
                in the underwriting on the same terms and conditions as the securities
                otherwise being sold through the underwriter(s). In the event that
                in the
                good faith judgment of the managing
                underwriter of such public offering the inclusion of all of the Securities
                originally covered by a request for registration pursuant to this
                Section
                4 would materially and adversely affect the successful marketing
                of the
                securities offered by the Company through a managing underwriter,
                the
                number of Securities otherwise to be included in the underwritten
                public
                offering may be reduced as required by the managing
                underwriter,
                the securities so included to be apportioned pro rata among the selling
                security holders according to the total amount of securities entitled
                to
                be included therein owned by each selling security holder or in such
                other
                proportions as shall mutually be agreed to by such selling security
                holders.

            

      	 	 	 

      	 	(b)	All
              fees, costs and expenses of and incidental to the registration of the
              Securities, shall be borne by the Company; provided,
              however,
              that you shall bear your share of the underwriting discount, if any,
              and
              commissions and transfer taxes, and any professional fees or costs
              of
              accounting, financial or legal advisors engaged by
              you.

      	 	 	 

      	 	(c) 	You
              agree to execute any lock-up agreement signed by the Company’s executive
              officers in connection with the registration
              statement.

    

     

    
      	 	
              (5)

            	
              Put.
                If the registration statement relative to the Securities has not
                been
                declared effective within 12 months of the date of this letter agreement,
                then you may, on 30 days’ notice to the Company, require the Company to
                repurchase the Securities for a purchase price of
                $75,000.

            

    

    

    6. Miscellaneous.

     

    
      	 	(a)	This
              letter agreement shall be binding upon and inure to the benefit of
              the
              parties hereto and their respective representatives, successors and
              assigns.

      	 	 	 

      	 	
              (b)

            	
              No
                provision of this letter agreement may be amended, modified, or waived,
                except in writing and signed by the party against whom enforcement
                is
                sought.

            

    

    

    
      	 	
              (c)

            	
              This
                letter agreement shall be governed by, and construed in accordance
                with,
                the law of the State of Nevada applicable to agreements made and
                to be
                performed wholly therein. Any proceeding with respect to the construction
                or enforcement of this letter agreement shall be brought in a state
                or
                federal court located in the Carson City or Las Vegas,
                Nevada.

            

    

    

    This
      letter agreement may be executed in counterparts.

    

    Sincerely,

    Phoenix
      Aerospace, Inc.

    

    By:
      /s/
      Zahir Teja_____________
      

    Zahir
      Teja, President

    Read,
      accepted and agreed to:

     /s/
      Erik A. Kudlis_______________
      

      Erik
      A.
      Kudlis

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}]]