LETTER OF INTENT June 27, 2012 Korean Airlines Co., Ltd. 1370 Gonghang-dong Gangseo-gu Seoul, 157-712 Korea Re: 1992 Gulfstream G-IV Aircraft, Manufacturer's Serial No. 1188 Gentlemen: JEGE, Inc. ("Purchaser") hereby expresses its intent to purchase from Korean Airlines Co., Ltd. ("Seller") that certain 1992 Gulfstream G-IV aircraft bearing Manufacturer's Serial No. 1188, together with its equipped engines and all avionics, equipment, systems, furnishings and accessories installed on, contained in or attached to said aircraft and engines, and also including all loose equipment that is normally or currently part of the aircraft, and all aircraft records and documents associated with the aircraft, all as is to be more particularly described in the definitive written Aircraft Purchase Agreement described below (collectively, the "Aircraft"), subject to the following terms and conditions: I. The total purchase price for the Aircraft shall be the sum of Six Million Four Hundred Thousand U.S. Dollars (US$6,400,000.00), payable as follows: (a) (b) Within five (5) business days after Seller's acceptance of this Letter of Intent ("LOI"), Purchaser shall wire transfer a fully refundable One Hundred Thousand U.S. Dollar (US$100,000.00) deposit (the "Deposit") to Insured Aircraft Title Service, Inc., Oklahoma City, Oklahoma, Attn: Joan Roberts, Vice President (the "Escrow Agent"), which Deposit shall be held in escrow and disbursed in accordance with the terms and conditions set forth in the definitive written Aircraft Purchase Agreement described below (the "Purchase Agreement"); and The balance of the purchase price for the Aircraft in the amount of Six Million Three Hundred Thousand U.S. Dollars (US$6,300,000.00) shall be paid at the closing provided for in the Purchase Agreement, said purchase price balance to be wire transferred prior to such closing into a special escrow account of the Escrow Agent for its disbursement to Seller at said c