Exhibit 99.2
AMENDMENT ONE TO AGREEMENT
This Amendment One to Agreement, dated and effective as of September
1, 2002, is entered into by and among ATA Holdings Corp., an Indiana
corporation ("ATA"), Betaco Ltd., a Grand-Cayman-exempted company ("Owner
#1"), and Betaco, Inc., a Delaware corporation ("Owner #2), (Owner #1 and
Owner #2 collectively known as "Owners").
Recitals
A. The parties entered into an Agreement dated and effective as of
May 1, 2002 (the "Agreement").
B. The parties desire to amend the Agreement as set forth below.
Agreement
NOW, THEREFORE, the parties agree as follows:
1. The following shall be added to the Agreement as the fourth
paragraph to Section 1 of the Agreement:
If, in any fiscal year ending on April 30, the salaries of the Crew
paid by ATA, on an aggregate basis, exceed 75% of the fair market value
of ATA's use of the Vessels, Owners shall reimburse ATA for that portion
of the Crew salaries paid by ATA which exceeds the 75% threshold. The
fair market value of the usage of the Vessels by ATA shall be determined
by the Internal Audit Department of ATA Holdings Corp. and reviewed by
Ernst & Young.
2. The remainder of the Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties have executed this Amendment One as
of the date first written above.
ATA HOLDINGS CORP.
By
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Xxxxxxx X. Xxxxx
Executive Vice President and
Chief Financial Officer
BETACO LTD.
By
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J. Xxxxxx Xxxxxxxxx
President
BETACO, INC.
By
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J. Xxxxxx Xxxxxxxxx
President
