BUYER Date: Jet Connections Ltd. do Wentworth Aero LLC Attn: Zaher Deir Via Email to: ZahereJetConnections.co.uk Cc: [email protected] Re: LETTER OF INTENT for the purchase of one (I) Boeing BBJ2 aircraft MSN 32806 Registered VP-CBB Dear Sirs, We are hereby pleased to submit the following offer for the purchase of one (1) Boeing BBJ2 bearing manufacturer's serial number 32806, Cayman registration VP-CBB together with two (2) CFM56-7827/83 engines, and all aircraft documentation, appurtenances, appliances, parts, instruments, components, accessions, loose equipment, and furnishings and other equipment of whatever nature incorporated in, attached to, or associated with any of the foregoing, and having the specifications detailed in Attachment A hereto (the "Aircraft"). This letter of intent ("LOI") sets forth the following terms and conditions for our purchase of the sale of the Aircraft. 1. Purchase Price: The total purchase price for the Aircraft is US$ $21,000,000 (Twenty-One Million United States Dollars) (the "Purchase Price"). The Purchase Price will be payable on the delivery date simultaneously with transfer of title to the Aircraft by the Seller to the Buyer. 2. Deposit: Within two (2) business days of Buyer timely accepting this LOI, Buyer will transfer to Insured Aircraft Title Service Inc. escrow account, Attn: Joan Roberts ("Escrow Agent") a US$ 1,000,000.00 good faith deposit ("Deposit") to be held by the Escrow Agent pursuant to the terms of this LOI. The Deposit shall be fully refundable until a Purchase Agreement is signed, after which the deposit shall be held in accordance with its terms. If the Deposit is not remitted directly by Buyer, Escrow Agent shall provide written confirmation from the remitter of its agreement that the Deposit has been remitted on behalf of Buyer and is subject to the terms of this Agreement and any subsequent Purchase Agreement. The Deposit shall be applied towards the Purchase Price at Clo