Tower Air Inc Watch

from 10-Q 1 page Title of Position: Chief Financial Officer & Vice President Finance Directly Reports To: Chairman & CEO Compensation: A) Annual Base Salary - $225,000 Per Year With a Salary Increase of $25,000 After One Year of Successful Performance B) Review of Annual Salary as of the Second Year of Start Date of Employment C) Stock Option Grants: Options Will Be Exercisable at the Price as of the Date of the Grant 1) 25,000 Upon Commencement of Employment 2) 25,000 Additional Options After 6 Months of Employment, Based on Performance 3) 50,000 Additional Options After One Year of Employment Benefits: A) Medical/Dental - Immediate Participation (Waiting Periods Waived) B) 401(k) Savings Plan - Immediate Participation (Waiting Periods Waived) C) Participation in All Other Company Benefit Plans in Which Corporate Officers Are Entitled to Participate

from 10-Q ~10 pages Security Agreement

from 10-Q ~10 pages Pledge Agreement

from 10-Q >50 pages Material contract

from 10-Q ~10 pages Capitalized Leasing Agreement

from 10-K ~50 pages Aircraft Engine Purchase Agreement

from 10-K ~50 pages Mortgage and Security Agreement

from 10-K 1 page Letter of Formal Offer of Employment

from 10-Q ~5 pages Material contract

from 10-Q ~50 pages Tower Contract Finished Draft

from 10-Q ~5 pages Sixth Amendment to Consolidated, Amended

from 10-Q ~5 pages Consolidated, Amended and Restated Promissory Note

from 10-Q ~5 pages Amended and Restated Promissory Note

from 10-Q ~5 pages Amended and Restated Promissory Note

from 10-Q ~20 pages Purchase and Sale Agreement

from 10-Q ~5 pages Heller Financial, Inc. Sixth Amendment

from 10-Q 1 page Employment Agree. Between the Co. & Nathan Nelson

from 10-Q/A ~10 pages Subordination Agreement

from 10-Q/A 1 page Heller Financial Inc.--First Amendment (2/27/98)

from 10-Q ~5 pages Heller Financial Inc.--Third Amendment (5/1/98)