Executive Employment Agreement

EXHIBIT 10.1.7



EXECUTIVE EMPLOYMENT AGREEMENT



EXECUTIVE EMPLOYMENT AGREEMENT effective November 19, 1998 (the "Agreement") by and between AMERICAN AIRCARRIERS SUPPORT, INCORPORATED (the "Company") with principal offices at Fort Mill, South Carolina and HANNA K. KHOURY (the "Executive").



NOW THEREFORE, in consideration of the foregoing premises and mutual covenants herein contained, the parties hereto agree as follows:



1. Employment. The Company agrees to employ the Executive and the Executive agrees to serve the Company as its Executive Vice President in a newly formed subsidiary.



2. Position and Responsibilities. The Executive shall exert his best efforts and devote full time and attention to the affairs of the Company. The Executive shall have the authority and responsibility given by the general direction, approval and control of the Board of Directors, President and Chief Executive Officer of the Company, to the restrictions, limitations and guidelines set forth by the Board of Directors in resolutions adopted in the minutes of the Board of Directors meetings, copies of which will be provided to the Executive from time to time and will be incorporated herein by reference.



3. Term of Employment. The term of the Executive's employment under this Agreement shall be deemed to have commenced on November 19, 1998 and shall continue until November 18, 2001, (the "Initial Term"), subject to extension as hereinafter provided or termination pursuant to the provisions set forth hereafter. Provided that Executive is in compliance with all of his obligations hereunder, the term of Executive's employment shall be automatically extended for an additional one-year term upon expiration of the Initial Term unless either party hereto receives 30 days' prior written notice from the other electing not to extend the Executive's employment. Compensation during the term shall be that set forth in Section 5 hereof, unless one of the termination provisions overrides.



4. Duties. During the period of his employment hereunder and except for illness, specified vacation periods and reasonable leaves of absence, the Executive shall devote his best efforts and full attention and skill to the business and affairs of the Company











and its affiliated companies, as such business and affairs now exist and as they may be hereinafter changed or added to, under and pursuant to the general direction of the Board of Directors of the Company.



5. Compensation. Commencing on November 19, 1998, the Company shall pay to the Executive as compensation for his services the sum of $190,000.00 per year, payable semi-monthly. Executive shall also be eligible for a bonus subject to the discretion of the Compensation Committee of the Board of Directors. In the event that the Agreement is not renewed or extended or if the Company terminates the Executive without cause, then the Executive shall be compensated as set forth in Section 13 below.



6. Expense Reimbursement. The Company will reimburse the Executive, at least semi-monthly, for all reasonable and necessary expenses, including without limitation, travel expenses, and reasonable entertainment expenses, incurred by him in carrying out his duties under this Agreement. The Executive shall present to the Company each month an account of such expenses in such form as is reasonably required by the Board of Directors.



7. Medical and Dental Coverage. Commencing November 19, 1998, the Executive will be entitled to participate in the Company's employee group medical and other group insurance programs on the same basis as other executives of the Company.



8. Medical Examination. The Executive agrees to submit himself for physical examination on one occasion per year as requested by the Company for the purpose of the Company's obtaining life insurance on the life of the Executive for the benefit of the Company as may be required; provided, however, that the Company shall bear the entire cost of such examinations and shall pay all premiums on any key man life insurance obtained for the benefit of the Company as beneficiary or with respect to any other designated beneficiary.



9. Vacation Time. The Executive shall be entitled each year to a reasonable vacation in accordance with the established practices of the Company, now or hereafter in effect for the executive personnel, during which time the Executive's compensation shall be paid in full.













10. Benefits Payable on Disability. If the Executive becomes disabled from properly performing services hereunder by reason of illness or other physical or mental incapacity, the Company shall continue to pay the Executive his then current salary hereunder for the first three (3) months of such continuous disability commencing with the first date of such disability.



11. Obligations of Executive During and After Employment.



(a) The Executive agrees that during the terms of his

employment under this Agreement, he will engage in no other business

activities directly or indirectly, which are competitive with or which

might place him in a competing position to that of the Company, or any

affiliated company.

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