AVIONETA HOLDINGS 445 Park Ave, Ste. 1401, New York, NY 10022 To/: Chulavista li mited 15, rue Necker, 1201 Geneve, Switzerland Attention: uan Manuel Cid, Director Email: Facsimile Dated: 10 March 2015 Dear Sirs, Boeing Business Jet aircraft msn 30751 registration N737L Letter of Offer — Sale We refer to our discussions in relation to the above Aircraft. Avionets Holdings, on behalf of itself and its affiliates and/or nominee (the "Buyer"), hereby offers to buy the above aircraft, as more particularly defined in the Terms below, (the "Aircraft") from Chulavista Limited. (the "Seller") for the sum of TWENTY EIGHT MILLION FIVE HUNDRED THOUSAND DOLLARS (USS28,500,000.00) on the terms of this letter of offer as set out below ("Offer"). This Offer remains open for acceptance by you on behalf of the Buyer until 1800 hours CET time on Friday 1.3 March 2015 (the "Expiry Time") when, without its extension by us, it will expire, and is subject to: (A) a Visual Inspection of the Aircraft by the Buyer, as further provided below, and the Aircraft being found on such inspection to be satisfactory to the Buyer, in the Buyer's absolute discretion; and (B) the entering into of a definitive Aircraft Sale and Purchase Agreement in respect of the sale of the Aircraft by the Seller and its purchase by the Buyer in form and substance satisfactory to the Seller and the Buyer (the "Sale Agreement") by Friday 27 March 2015 (the "Documentation Deadline"). The purchase of the Aircraft by the Buyer from the Seller and the sale of the Aircraft by the Seller to the Buyer are referred to in this Offer as the "Transaction". ACCEPTANCE AND THE DEPOSIT If you find this Offer satisfactory, please evidence your acceptance of it on behalf of the Buyer by signing and returning to the undersigned a duplicate of this letter in original, facsimile or pdf signed form by the Expiry Time. Within two business days of the Buyer's acceptance of this Offer, the Buyer agrees to d