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From:

Sent: Tue 10/5/2010 4:54:23 PM

Subject: Gil maintenance plan

Rich,

Larry Morriosn and myself have selected Midcoast Aviation in St. Luis to complete the Gulfstream inspection starting November 1st, 2010.

Midcoast in owned by General Dynamics. This facility has strong GIl mechanics on staff.

Highlights of Pricing:

Ops inspection $87,686.00 which includes interior removal and installation. ($7,000 value). fuel credit of $5,000.00 at delivery.

reduced hourly labor rate from $107.00 per hour to $92.00 for discrepancy repairs found.

15 to 19 working day down time is estimated.

payment schedule is 50% due at contract signing, and 50% of contract price at delivery, remaining balance of squawks / repairs will be 30 day net.

simple estimate for completed price, double the inspection price, I estimate total inspection to be in the neighborhood of $175,372.00 to $200k depends on corrosion found during inspection, which could add to down time.

We received bids from:

"Private Sky" in Ft, Myers FI, $87K (time and material for interior removal in installation.)

"General Dynamics" in PSI, $123K labor rate $110.00 per hour.

"Eastway Maintenance" in Islip, NY, $94K labor rate $95.00

"Chrysler Pennastar" in Pontiac MI, $97K labor rate $97.00

"Executive Jet Services" in Fort Lauderdale Fl. $72K (small un-known).

thank you,

Larry