PARTS CONSIGNMENT AGREEMENT

This agreement covers the terms of the consignment agreement between Waitman Helicopters, Inc. and
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for the advertisement and possible sale of the helicopter parts as described on the attached parts inventory sheet.

The owners agrees to allow Waitman Helicopters, Inc. to act as their exclusive sales agent for the period of time specified below, for the sum of 10% of the final sales amount. This amount will be based upon the base price of 75% of the current cost of a new part from Rotorway International, if available.

The duration of this consignment is for 90 days minimum, and may be extended with written agreement between these parties.

All parts must be sent to Waitman Helicopters, Inc. at the owners expense to be inspected for conformity to design specifications.
All parts will be tagged by Waitman Helicopters to identify the part number and condition before parts can be offered for sale.

All parts will be sold with no warranties expressed or implied on "as-is, where is" basis. A conditional sale agreement will be required from the purchaser. They will be required to sign an agreement which specifies:

1. The buyer assumes all liabilities for the parts upon purchase.

2. The buyer hold harmless the seller and his/her heirs for any subsequent use, misuse, transportation of, or operation of the parts purchased.

3. The buyer will make these conditions known to any and all subsequent owners of these parts being sold, given, or traded separately.

All parts not sold will be returned at the owners expense.

SELLER

Name: Joseph L. Waitman

for: WAITMAN HELICOPTERS, INC.

SIGNED: _____________________________

DATED: _____________________________

OWNER

NAME __________________________________

________________________________________

SIGNED: ________________________________

DATED: ________________________________