Letter Agreement Affirming Liquidity Agreement and Executive Stock Put Rights between Ranger Aerospace Corporation and Stephen D. Townes

Summary

Ranger Aerospace Corporation confirms to Stephen D. Townes that the terms of their previous Liquidity Agreement, which grants Townes the right to sell certain shares of executive stock back to the company, remain valid. The agreement updates references to the relevant stock agreement, now pointing to the Amended & Restated Second Executive Stock Agreement dated August 31, 2000. Both parties acknowledge and agree to these terms as of the stated date.

EX-10.18 10 0010.txt ST TAX INDEMNITY UPDATE 82800 [Ranger Aerospace Corporation letterhead] August 31, 2000 Stephen D. Townes 318 Scarborough Drive Greer, SC 29650 RE: Liquidity Agreement/Right to Put Certain Shares of Executive Stock Dear Steve: Reference is hereby made to that certain letter from Ranger Aerospace Corporation to you dated March 7, 2000, re: Liquidity Agreement/Right to Put Certain Shares of Executive Stock (the "March 7 Letter"). This letter affirms that the March 7 Letter remains in full force and affect, and that references to that certain Second Executive Stock Agreement dated as of March 7, 2000 and defined as the "Stock Agreement" in the March 7 Letter shall now be references to that certain Amended & Restated Second Executive Stock Agreement dated August 31, 2000 which amended and restated such March 7 Stock Agreement. Very truly yours, RANGER AEROSPACE CORPORATION By: ________________________________ George Schwartz, Chairman of the Board Agreed and acknowledged as of the date first written above: ___________________________ Stephen D. Townes