<SEC-DOCUMENT>0001525221-13-000033.txt : 20130308
<SEC-HEADER>0001525221-13-000033.hdr.sgml : 20130308
<ACCEPTANCE-DATETIME>20130307174829
ACCESSION NUMBER:		0001525221-13-000033
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20130308
DATE AS OF CHANGE:		20130307
EFFECTIVENESS DATE:		20130308

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ERA GROUP INC.
		CENTRAL INDEX KEY:			0001525221
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, NONSCHEDULED [4522]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-187116
		FILM NUMBER:		13674565

	BUSINESS ADDRESS:	
		STREET 1:		600 AIRPORT SERVICE ROAD
		CITY:			LAKE CHARLES
		STATE:			LA
		ZIP:			70605
		BUSINESS PHONE:		337-478-6131

	MAIL ADDRESS:	
		STREET 1:		600 AIRPORT SERVICE ROAD
		CITY:			LAKE CHARLES
		STATE:			LA
		ZIP:			70605

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Era Froup Inc.
		DATE OF NAME CHANGE:	20110708
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>eragroup-xesppform.htm
<DESCRIPTION>S-8
<TEXT>
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<a name="sB634A6A079AD445E9A071CCB58AD8104"></a><div></div><br><div style="line-height:120%;padding-bottom:4px;text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Registration No. 333</font><font style="font-family:inherit;font-size:9pt;">&#8722;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;"><hr></div><div style="line-height:120%;padding-bottom:4px;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;"><hr></div><div style="line-height:120%;padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">UNITED STATES <br>SECURITIES AND EXCHANGE COMMISSION</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:9pt;font-weight:bold;">WASHINGTON, D.C. 20549</font></div><div style="line-height:120%;padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">________________________</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">FORM&#160;S&#8722;8 <br>REGISTRATION STATEMENT</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:9pt;font-style:italic;font-weight:bold;">UNDER <br>THE SECURITIES ACT OF&#160;1933</font></div><div style="line-height:120%;padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">________________________</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ERA GROUP INC.</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:9pt;">(Exact Name of Registrant as Specified in its Charter)</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">________________________</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="50%"></td><td width="50%"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">DELAWARE</font><font style="font-family:inherit;font-size:9pt;">&#160;<br>(State or Other Jurisdiction of <br>Incorporation or Organization)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">72-1455213</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:9pt;">(I.R.S. Employer <br>Identification No.)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">818 TOWN &amp; COUNTRY BLVD, SUITE 200</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:9pt;font-weight:bold;">HOUSTON, TEXAS</font><font style="font-family:inherit;font-size:9pt;">&#160;<br>(Address of Principal Executive Offices) <br>(Zip Code)</font></div><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">________________________</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;padding-top:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">ERA GROUP INC. 2013 EMPLOYEE STOCK PURCHASE PLAN</font><font style="font-family:inherit;font-size:9pt;">&#160;<br>(Full Title of Plan)</font></div><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">________________________</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-top:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">CHRISTOPHER BRADSHAW</font></div><div style="padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:9pt;font-weight:bold;">ERA GROUP INC.</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:9pt;font-weight:bold;">818 TOWN &amp; COUNTRY BLVD, SUITE 200</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:9pt;font-weight:bold;">HOUSTON, TEXAS <br>(281) 606&#8722;4900</font><font style="font-family:inherit;font-size:9pt;">&#160;<br>(Name and Agent for Service) <br>(Telephone Number, Including Area Code, of Agent For Service)</font></div><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">________________________</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;padding-top:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;">Copies to:</font></div><div style="padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">DAVID E. ZELTNER, ESQ. <br>MILBANK, TWEED, HADLEY AND MCCLOY LLP <br>ONE CHASE MANHATTAN PLAZA</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:9pt;font-weight:bold;">NEW YORK, NEW YORK&#160;10005 <br>(212) 530&#8722;5000</font></div><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">________________________</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">CALCULATION OF REGISTRATION FEE</font></div><div style="line-height:120%;font-size:9pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td width="37%"></td><td width="15%"></td><td width="15%"></td><td width="16%"></td><td width="17%"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Title of Each Class of <br>Securities to be Registered</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Amount <br>to be <br>Registered</font><font style="font-family:inherit;font-size:9pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Proposed <br>Maximum <br>Offering Price <br>Per Share</font><font style="font-family:inherit;font-size:9pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Proposed <br>Maximum <br>Aggregate <br>Offering Price</font><font style="font-family:inherit;font-size:9pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Amount of <br>Registration Fee </font><font style="font-family:inherit;font-size:9pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Common Stock, par value $.01&#160;per share</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">300,000</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font><font style="font-family:inherit;font-size:9pt;">19.66</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font><font style="font-family:inherit;font-size:9pt;">5,898,000</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font><font style="font-family:inherit;font-size:9pt;">0</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;text-align:left;padding-left:24px;text-indent:-24px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:inherit;font-size:8pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Plus such indeterminate number of shares of Common Stock of the Registrant as may be issued to prevent dilution resulting from stock dividends, stock splits or similar transactions in accordance with Rule&#160;416 under the Securities Act of&#160;1933.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:inherit;font-size:8pt;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Calculated solely for the purpose of determining the registration fee pursuant to Rule&#160;457(h) and Rule&#160;457(c) under the Securities Act of&#160;1933.  The offering price and registration fee are based on a price of $</font><font style="font-family:inherit;font-size:8pt;">19.66</font><font style="font-family:inherit;font-size:8pt;">&#32;per share, which price is the average of the high and low sales prices of the shares of common stock, as reported on the New York Stock Exchange on March 4, 2013.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:inherit;font-size:8pt;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">In accordance with Rule 457(p) of the Securities Act of 1933, the full amount of the filing fee of $804 in connection with this Registration Statement is offset by the remaining $7,048 of the $17,415 filing fee previously paid by Era Group Inc. in connection with its prior Registration Statement on Form S-1 (File No. 333-175942) initially filed on August 2, 2011 and later withdrawn on October 11, 2012 and not used to pay the filing fee for other Registration Statements of the Registrant.  </font></div></td></tr></table><div style="line-height:120%;"><hr></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;"><hr></div><br><div><div style="line-height:100%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s19D3F6B4061786C8B1B11CCB58CB8D39"></a><div></div><br><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#32;PART 1 </font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">INFORMATION REQUIRED IN THE SECTION&#160;10 (A)&#160;PROSPECTUS</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:72px;">ITEM 1.</font><font style="font-family:inherit;font-size:10pt;">PLAN INFORMATION.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The documents constituting Part I of this Registration Statement will be sent or given by Era Group Inc. (&#8220;Era Group&#8221; or the &#8220;Registrant&#8221;) to participants in the Era Group Inc. 2013 Employee Stock Purchase Plan (the &#8220;Plan&#8221;), as specified by Rule&#160;428(b)(1) under the Securities Act of&#160;1933, as amended (the &#8220;Securities Act&#8221;).  The Part I Information is not filed with the Securities and Exchange Commission (the &#8220;SEC&#8221; or the &#8220;Commission&#8221;) either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to the note to Part I of Form&#160;S-8.  Those documents and the documents incorporated by reference in this Registration Statement pursuant to Item&#160;3 of Part II of this Form&#160;S-8, taken together, constitute a prospectus that meets the requirements of Section&#160;10 (a)&#160;of the Securities Act.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:72px;">ITEM 2.</font><font style="font-family:inherit;font-size:10pt;">REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Registrant will provide a written statement to participants in the Plan advising them of the availability without charge, upon written or oral request, of the documents incorporated by reference in Item&#160;3 of Part II of this Form&#160;S-8.  The written statement to all participants will indicate the availability without charge, upon written or oral request, of other documents required to be delivered pursuant to Rule&#160;428(b), and will include the address and telephone number to which the request is to be directed.  The Part I Information is not filed with the SEC either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to the note to Part I of Form&#160;S-8.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#32;<br> <br>PART II</font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ITEM 3.&#160;&#160;&#160;&#160;Incorporation of Documents by Reference.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following documents filed with the Commission by the Company are incorporated herein by reference:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:96px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our Annual Report on Form&#160;10-K for the fiscal year ended December&#160;31, 2012 filed with the SEC on February 27, 2013, as amended on March 7, 2013; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:96px;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our Periodic Reports on Form 8-K filed with the SEC on February 1, 2013 and March 5, 2013; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:96px;"><font style="font-family:inherit;font-size:10pt;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the description of our common stock contained in our registration statement on Form&#160;10 initially filed with the SEC on October&#160;12, 2012, as amended, including any amendment or report filed for the purposes of updating such description.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All documents subsequently filed by the Company with the Commission pursuant to Sections&#160;13(a), 13(c), 14 and&#160;15(d) of the Securities Exchange Act of&#160;1934, as amended (the &#8220;Exchange Act&#8221;), prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Any statement contained in any document incorporated by reference herein will be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document, which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded will not be deemed, except as so modified or superseded, to constitute part of this Registration Statement.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ITEM 4.&#160;&#160;&#160;&#160;DESCRIPTION OF SECURITIES.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not applicable.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ITEM 5.&#160;&#160;&#160;&#160;INTERESTS OF NAMED EXPERTS AND COUNSEL.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not applicable.</font></div><br><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></div><hr style="page-break-after:always"><a name="s19D3F6B4061786C8B1B11CCB58CB8D39"></a><div></div><br><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ITEM 6.&#160;&#160;&#160;&#160;INDEMNIFICATION OF DIRECTORS AND OFFICERS.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Section 145 of the Delaware General Corporation Law (the &#8220;DGCL&#8221;), provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. Section 145 further provides that a corporation similarly may indemnify any such person serving in any such capacity who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee or agent of the corporation or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorney&#8217;s fees) actually and reasonably incurred in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation and except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Delaware Court of Chancery or such other court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all of the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Delaware Court of Chancery or such other court shall deem proper. </font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Registrant&#8217;s Bylaws authorize the indemnification of its officers and directors, consistent with Section 145 of the DGCL, as amended. The Registrant has entered into indemnification agreements with each of its directors and executive officers. These agreements, among other things, will require the Registrant to indemnify each director and executive officer to the fullest extent permitted by Delaware law, including indemnification of expenses such as attorneys&#8217; fees, judgments, fines and settlement amounts incurred by the director or executive officer in any action or proceeding, including any action or proceeding by or in right of us, arising out of the person&#8217;s services as a director or executive officer.</font><font style="font-family:inherit;font-size:10pt;color:#999999;">&#32;</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Reference is made to Section 102(b)(7) of the DGCL, which enables a corporation in its original certificate of incorporation or an amendment thereto to eliminate or limit the personal liability of a director for violations of the director&#8217;s fiduciary duty, except (i) for any breach of the director&#8217;s duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) pursuant to Section 174 of the DGCL, which provides for liability of directors for unlawful payments of dividends of unlawful stock purchase or redemptions or (iv) for any transaction from which a director derived an improper personal benefit. </font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Registrant maintains standard policies of insurance that provide coverage (i) to its directors and officers against loss rising from claims made by reason of breach of duty or other wrongful act and (ii) to the Registrant with respect to indemnification payments that it may make to such directors and officers.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ITEM 7.&#160;&#160;&#160;&#160;EXEMPTION FROM REGISTRATION CLAIMED.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not applicable.</font></div><br><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div></div><hr style="page-break-after:always"><a name="s19D3F6B4061786C8B1B11CCB58CB8D39"></a><div></div><br><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ITEM 8.&#160;&#160;&#160;&#160;EXHIBITS.</font></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="9%"></td><td width="91%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amended and Restated Certificate of Incorporation of Era Group Inc. (incorporated herein by reference to Exhibit 3.1 of the Company&#8217;s Current Report on Form 8-K filed with the Commission on February 1, 2013). (Registration No. 001-35701)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.2</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amended and Restated Bylaws of Era Group Inc. (incorporated herein by reference to Exhibit 3.2 of the Company&#8217;s Current Report on Form 8-K filed with the Commission on February 1, 2013). (Registration No. 001-35701)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of Common Stock Certificate of Era Group Inc. (incorporated herein by reference to Exhibit 4.1 of the Company&#8217;s Registration Statement on Form 10 initially filed with the Commission on October 12, 2012, as amended). (Registration No. 001-35701)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Opinion of Milbank, Tweed, Hadley &amp; McCloy LLP.*</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Consent of Milbank, Tweed, Hadley &amp; McCloy LLP (included in the opinion filed as Exhibit&#160;5.1 to this registration statement).*</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23.2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Consent of Ernst &amp; Young LLP, independent registered public accounting firm.*</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Power of Attorney (included as part of the signature page to this Registration Statement and incorporated herein by reference).*</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">99.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Era Group Inc. 2013 Employee Stock Purchase Plan.*</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*&#160;&#160;&#160;&#160;Filed herewith.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ITEM 9.&#160;&#160;&#160;&#160;UNDERTAKINGS.</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The undersigned Registrant hereby undertakes:</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:96px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:144px;"><font style="font-family:inherit;font-size:10pt;">(i)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">To include any prospectus required by Section&#160;10(a)(3) of the Securities Act;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:144px;"><font style="font-family:inherit;font-size:10pt;">(ii)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement&#160;(or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement.  Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&#160;424(b) if, in the aggregate, the changes in volume and price represent no more than a&#160;20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective Registration Statement;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:144px;"><font style="font-family:inherit;font-size:10pt;">(iii)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;</font></div></td></tr></table><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:10pt;">, that paragraphs&#160;(a)(1)(i) and (a)(1)(ii) above do not apply if the Registration Statement is on Form&#160;S-8, and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section&#160;13 or Section&#160;15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:96px;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the </font></div></td></tr></table><br><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></div><hr style="page-break-after:always"><a name="s19D3F6B4061786C8B1B11CCB58CB8D39"></a><div></div><br><div style="line-height:120%;padding-left:144px;padding-bottom:8px;text-align:justify;"><font style="font-family:inherit;font-size:10pt;">securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:96px;"><font style="font-family:inherit;font-size:10pt;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&#8217;s annual report pursuant to Section&#160;13(a) or Section&#160;15(d) of the Exchange Act that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(c)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></div><hr style="page-break-after:always"><a name="sF0181566FA680848D28B1CCB58FD043E"></a><div></div><br><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SIGNATURES</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to the requirements of the Securities Act of&#160;1933, the undersigned registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form&#160;S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City Houston, State of Texas, on this&#160;7th day of March, 2013.</font></div><div style="line-height:120%;padding-bottom:26px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td width="39%"></td><td width="6%"></td><td width="55%"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Era Group Inc.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Sten L. 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style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Oivind Lorentzen</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font 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Fogg</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-align:center;">March 7, 2013</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Blaine V. Fogg</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Steven Webster</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-align:center;">March 7, 2013</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Steven Webster</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:100%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sFFF96B37DDED078E19991CCB59250D1B"></a><div></div><br><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EXHIBIT&#160;INDEX</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="12%"></td><td width="88%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">EXHIBIT</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">DESCRIPTION</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amended and Restated Certificate of Incorporation of Era Group Inc. (incorporated herein by reference to Exhibit 3.1 of the Company&#8217;s Current Report on Form 8-K filed with the Commission on February 1, 2013). (Registration No. 001-35701)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.2</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amended and Restated Bylaws of Era Group Inc. (incorporated herein by reference to Exhibit 3.2 of the Company&#8217;s Current Report on Form 8-K filed with the Commission on February 1, 2013). (Registration No. 001-35701)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of Common Stock Certificate of Era Group Inc. (incorporated herein by reference to Exhibit 4.1 of the Company&#8217;s Registration Statement on Form 10 initially filed with the Commission on October 12, 2012, as amended). (Registration No. 001-35701)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Opinion of Milbank, Tweed, Hadley &amp; McCloy LLP.*</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Consent of Milbank, Tweed, Hadley &amp; McCloy LLP (included in the opinion filed as Exhibit&#160;5.1 to this registration statement).*</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23.2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Consent of Ernst &amp; Young LLP, independent registered public accounting firm.*</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Power of Attorney (included as part of the signature page to this Registration Statement and incorporated herein by reference).*</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:13px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">99.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Era Group Inc. 2013 Employee Stock Purchase Plan.*</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*&#160;&#160;&#160;&#160;Filed herewith.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div><div style="line-height:100%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exhibit51-opinionofmilbank.htm
<DESCRIPTION>EXHIBIT
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<a name="sF2C79C3E79D53EAE4BC23C5E35CFE046"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:4px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT 5.1</font></div><div style="line-height:120%;font-size:13.5pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td width="22%"></td><td width="56%"></td><td width="22%"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;padding-left:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;padding-left:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;padding-left:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;padding-left:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">LOS ANGELES</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">213-892-4000</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FAX: 213-629-5063</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">WASHINGTON, D.C.</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">202-835-7500</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FAX: 202-835-7586</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">LONDON</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">44-20-7615-3000</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FAX: 44-20-7615-3100</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">FRANKFURT</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">49-(0)69-71914-3400</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FAX: 49-(0)69-71914-3500</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">MUNICH</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">49-89-25559-3600</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FAX: 49-89-25559-3700</font></div><div style="text-align:center;padding-left:10px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:8px;padding-top:8px;text-align:center;font-size:13.5pt;"><font style="font-family:inherit;font-size:13.5pt;font-weight:bold;text-align:center;">MILBANK, TWEED, HADLEY &amp; M</font><font style="font-family:inherit;font-size:13.5pt;font-weight:bold;text-align:center;text-decoration:underline;"><sup style="vertical-align:top;line-height:120%;font-size:pt">c</sup></font><font style="font-family:inherit;font-size:13.5pt;font-weight:bold;text-align:center;">CLOY </font><font style="font-family:inherit;font-size:13pt;font-weight:bold;text-align:center;">LLP</font></div><div style="padding-bottom:8px;padding-top:8px;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">1 CHASE MANHATTAN PLAZA</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">NEW YORK, NY 10005-1413</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;text-align:center;">_________</font></div><div style="padding-bottom:8px;padding-top:8px;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;text-align:center;">Telephone:  212-530-5000 <br>Fax:  212-530-5219</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">BEIJING</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8610-5969-2700</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FAX: 8610-5969-2707</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">HONG KONG</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">852-2971-4888</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FAX: 852-2840-0792</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">SINGAPORE</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">65-6428-2400</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FAX: 65-6428-2500</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">TOKYO</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">813-5410-2801</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FAX: 813-5410-2891</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">S&#195;O PAULO</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">55-11-2787-6282</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FAX: 55-11-2787-6469</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;padding-left:288px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 7, 2013</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Era Group Inc.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">818 Town &amp; Country Blvd., Suite 200</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Houston, TX 77024</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">Re:</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Registration Statement on Forms S-8 relating to the issuance of Common Stock under the Era Group Inc. 2013 Employee Stock Purchase Plan</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ladies and Gentlemen:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We refer to the Registration Statement on Form S-8 (the "</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Registration Statement</font><font style="font-family:inherit;font-size:10pt;">") which Era Group Inc., a Delaware corporation (the "</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:10pt;">"), proposes to file with the Securities and Exchange Commission for the purpose of registering under the Securities Act of 1933, as amended, up to 300,000&#160;shares of common stock of the Company, par value $0.01 per share (the "</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Shares</font><font style="font-family:inherit;font-size:10pt;">"), issued, or issuable under and pursuant to the Era Group Inc. 2013 Employee Stock Purchase Plan (the "</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Plan</font><font style="font-family:inherit;font-size:10pt;">").</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have examined originals, or copies certified to our satisfaction, of such corporate records of the Company, agreements and other instruments, certificates of public officials, certificates of officers and representatives of the Company and other documents as we have deemed it necessary as a basis for the opinions hereinafter expressed.  In such examination we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity with the original documents of all documents submitted to us as copies and the authenticity of the originals of such latter documents.  As to various questions of fact material to such opinions we have, when relevant facts were not independently established, relied upon certifications by officers of the Company and other appropriate persons and statements contained in the Registration Statement.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Based upon the foregoing, and having regard to legal considerations which we deem relevant, we are of the opinion that the issuance of the Shares pursuant to the Plan has been duly authorized and, when issued and delivered upon receipt by the Company of consideration constituting lawful consideration under Delaware law in accordance with the relevant Plan, the Shares will have been legally and validly issued, fully paid and non&#8209;assessable.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement.  In giving such opinion, we do not thereby admit that we are acting within the category of persons whose consent is required under Section&#160;7 of the Securities Act of 1933, or the rules or regulations of the Securities and Exchange Commission thereunder.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Very truly yours,</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:240px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Milbank, Tweed, Hadley &amp; McCloy LLP</font></div><br><div><div style="line-height:100%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>exhibit232-consentofernsty.htm
<DESCRIPTION>EXHIBIT
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		<title>Exhibit 23.2 - Consent of Ernst & Young LLP, independent registered public accounting firm</title>
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<a name="sB58FC2343269A8F59C9241387F215DBD"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT 23.2</font></div></div><br><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Consent of Independent Registered Public Accounting Firm</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the Era Group Inc. 2013 Employee Stock Purchase Plan of Era Group Inc. of our report dated February 27, 2013, with respect to the consolidated financial statements and schedule of Era Group Inc. included in its Annual Report (Form 10-K/A) for the year ended December 31, 2012, filed with the Securities and Exchange Commission.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:384px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:384px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Ernst &amp; Young LLP</font></div><div style="line-height:120%;text-align:left;padding-left:384px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certified Public Accountants</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Miami, Florida </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 7, 2013</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>exhibit991-eragroupinc2013.htm
<DESCRIPTION>EXHIBIT
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		<title>Exhibit 99.1-Era Group Inc. 2013 Employee Stock Purchase Plan</title>
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<a name="s7AB2579D7958C71C39BC3C5967240EF5"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT 99.1</font></div></div><br><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">ERA GROUP INC.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">2013 EMPLOYEE STOCK PURCHASE PLAN</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE I&#160;&#160;&#160;&#160;PURPOSE AND DEFINITIONS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.01 &#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Purpose</font><font style="font-family:inherit;font-size:10pt;">. The Era Group Inc. 2013 Employee Stock Purchase Plan, as amended from time to time ("Plan"), provides a convenient method of acquiring shares of stock of Era Group Inc. ("Company"), if you are eligible to participate. The Plan is intended to qualify as an employee stock purchase plan under section 423 of the Internal Revenue Code of 1986, as amended ("Code"), but is not intended to be subject to section 401(a) of the Code or the Employee Retirement Income Security Act of 1974. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.02&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Definitions</font><font style="font-family:inherit;font-size:10pt;">. A term defined in the Plan shall have the meaning ascribed to it wherever it is used herein unless the context indicates otherwise.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE II&#160;&#160;&#160;&#160;PARTICIPATION</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.01&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Adoption by Subsidiaries</font><font style="font-family:inherit;font-size:10pt;">. The Company's Board of Directors may, from time to time, authorize the adoption of the Plan by one or more subsidiary or parent corporations of the Company (including entities that become parents or subsidiaries of the Company after the adoption of the Plan) ("Participating Subsidiaries").</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.02&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Eligibility to Participate</font><font style="font-family:inherit;font-size:10pt;">. You are eligible to participate in an Offering (as defined below) under the Plan if, as of the first day of such Offering, you are regularly scheduled to work more than twenty hours a week (as determined by reference to the Company's employment records) and more than five months a year for the Company and its Participating Subsidiaries, and you have completed at least six months of employment with the Company and its Participating Subsidiaries. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.03&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Participation Agreement</font><font style="font-family:inherit;font-size:10pt;">. Participation in the Plan is voluntary with respect to each Offering. To participate in an Offering, you must be eligible and must complete a written enrollment form provided by the Company ("Participation Agreement") authorizing payroll deductions from your paycheck. Your Participation Agreement will remain in effect through each consecutive Offering unless you choose to revise or revoke it, or you become ineligible to participate in the Plan. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.04&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Termination of Your Participation</font><font style="font-family:inherit;font-size:10pt;">. You may withdraw at any time from any Offering by written notice to the Committee (as defined below) in such form as it may require. Your participation will also end upon your ceasing to be employed by the Company or any Participating Subsidiary, or when you become ineligible to participate (including by reason of the Company or any Participating Subsidiary terminating its participation in the Plan).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.05&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Designation of Beneficiary</font><font style="font-family:inherit;font-size:10pt;">. You shall, by written notice to the Committee, designate a person or persons to receive the value of your Account (as defined below) in the event of your death. You may, by written notice to the Committee during employment, alter or revoke such designation, subject always to any applicable law governing the designation of beneficiaries. Such written notice shall be in such form and shall be executed in such manner as the Committee may determine. If upon your death you have not designated a beneficiary under the Plan or such beneficiary does not survive you, the value of your Account shall be paid to your estate.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE III&#160;&#160;&#160;&#160;CONTRIBUTIONS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.01&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Payroll Deductions</font><font style="font-family:inherit;font-size:10pt;">. You may accumulate savings to purchase Shares (as defined below) in an Offering by authorizing payroll deductions pursuant to a Participation Agreement, subject to such minimum and maximum limits (expressed in dollars or as a percentage of wages) as the Committee may impose, which limits shall apply to all options under such Offering. Such savings shall be credited to your Account with respect to the Offering to which they relate. Payroll deductions for an Offering shall commence with the first </font></div><br><div><div style="line-height:100%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s7AB2579D7958C71C39BC3C5967240EF5"></a><div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">paycheck you receive during such Offering and shall end with the last paycheck you receive during such Offering. Paychecks will be treated as having been received when they are sent out or otherwise distributed.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Change in Rate of Contributions</font><font style="font-family:inherit;font-size:10pt;">. You may reduce (but not increase) your rate of payroll deduction during an Offering by written notice to the Committee in such form and manner as it requires. Such reduction shall be effective as of the first pay period thereafter by which the Company is able to process the change.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.03&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Possession of Contributions</font><font style="font-family:inherit;font-size:10pt;">. All payroll deductions made pursuant to the Plan shall be held for your benefit and on your behalf by the Company or any custodian selected by the Committee. Such payroll deductions shall constitute your property notwithstanding that they may be commingled with the general assets of the Company or such custodian.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE IV&#160;&#160;&#160;&#160;OPTIONS TO ACQUIRE SHARES</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.01&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Maximum Number of Shares</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(a)&#160;&#160;&#160;&#160;The number of shares of common stock of the Company ("Shares") available for issuance under the Plan shall be 300,000 Shares with respect to the ten years following the adoption of the Plan. Any Shares that are not actually purchased under the Plan for any reason shall remain available for purchase hereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(b)&#160;&#160;&#160;&#160;The maximum number of Shares that may be purchased by you during any Offering Period (as defined in Section 4.02 below) will be 3000 Shares.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.02&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Offerings</font><font style="font-family:inherit;font-size:10pt;">. The Company will offer Shares for purchase under the Plan ("Offering") for six-month periods beginning on September 1 and March 1 of each calendar year, commencing on March 1, 2013 (each such sixth month period an "Offering Period"). The Company may make additional Offerings for different periods, provided that no Offering shall extend for more than 27 months. Subject to the provisions of Section 423 of the Code and the regulations promulgated thereto, provisions applying to one option under an Offering shall apply to all other options under such Offering in the same manner.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.03&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Options</font><font style="font-family:inherit;font-size:10pt;">. Each Offering shall constitute an option to purchase Shares (which may include fractional shares) at a price per Share equal to 85% of the lesser of (i) the fair market value of a Share on the first day of such Offering or (ii) the fair market value of a Share on the last day of such Offering. The fair market value of a Share on any date shall be its closing price reported by the principal stock exchange on which Shares are traded for such date or for the next earliest date on which Shares were traded.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.04&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Individual Limit on Options</font><font style="font-family:inherit;font-size:10pt;">. No right to purchase Shares under the Plan shall provide an employee the right to purchase Shares under all employee stock purchase plans of the Company and its Subsidiaries in any calendar year which in the aggregate exceeds $25,000 of the fair market value of such stock (determined under Section 423 of the Code at the time the right is granted).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.05&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Purchase of Shares</font><font style="font-family:inherit;font-size:10pt;">. Subject to Section 10.04, unless you have withdrawn or become ineligible prior to the end of an Offering, your accumulated savings shall be automatically applied on the last day of the Offering to purchase Shares (which may include fractional shares) to the extent feasible in accordance with the Offering. Such purchase shall be treated as the exercise of an option represented by the Offering. Any amount remaining in your Account after such purchase shall be disbursed, without interest, to you; provided, however, that you may carry forward amounts representing a fractional share that were withheld but not applied toward the purchase of stock under an earlier Offering and apply such amounts toward the purchase of additional stock under a subsequent Offering. You are not entitled or permitted to make cash payments in lieu of payroll deductions to acquire Shares in an Offering. In no event shall any Shares be purchased pursuant to an Offering more than 27 months after the commencement of the Offering. </font></div><br><div><div style="line-height:100%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s7AB2579D7958C71C39BC3C5967240EF5"></a><div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.06&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Source of Shares</font><font style="font-family:inherit;font-size:10pt;">. Shares may be purchased directly from the Company or by the Broker (as defined below) pursuant to directions from the Committee. If the Broker acquires Shares pursuant to an open market transaction, such purchase shall be made at the market price prevailing on the applicable exchange. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.07&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Restriction on 5% Owners</font><font style="font-family:inherit;font-size:10pt;">. No employee shall be permitted to purchase Shares under the Plan if, immediately after such purchase, such employee would possess stock having 5% or more of the total combined voting power of all classes of stock of the Company or any of its parent or subsidiary corporations, determined by applying the stock ownership rules of section 424(d) of the Code. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.08&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Prohibition against Assignment</font><font style="font-family:inherit;font-size:10pt;">. Your right to purchase Shares under the Plan are exercisable only by you and may not be sold, pledged, assigned, surrendered or transferred in any manner other than by will or the laws of descent and distribution. Any attempt to sell, pledge, assign, surrender or transfer such rights shall be void and shall automatically cause any purchase rights held by you to be terminated. In such event, the Committee may refund in cash, without interest, all contributions credited to your Account.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE V&#160;&#160;&#160;&#160;ACCOUNTS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.01&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Establishment of Accounts</font><font style="font-family:inherit;font-size:10pt;">. The Committee shall cause to be maintained a separate account for each Participant ("Account") to record the amount of payroll deductions with respect to each Offering, and the purchase price for and the number of Shares, credited to such Participant. No interest or other earnings shall be credited to any contributions under the Plan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.02&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Custody of Shares</font><font style="font-family:inherit;font-size:10pt;">. The Committee shall select a broker ("Broker") which shall hold and act as custodian of Shares purchased pursuant to the Plan. Absent instructions to the contrary from a Participant, certificates for Shares purchased will not be issued by the Broker to a Participant. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;">5.03&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Voting of Shares</font><font style="font-family:inherit;font-size:10pt;">. You shall direct the Broker as to how to vote the full Shares credited to your Account</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE VI&#160;&#160;&#160;&#160;DISBURSEMENTS FROM ACCOUNT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.01&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Withdrawal of Contributions</font><font style="font-family:inherit;font-size:10pt;">. Upon your withdrawal from any Offering, all or any designated portion of the contributions credited to your Account with respect to such Offering shall be disbursed, without interest, to you. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.02&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Withdrawal of Shares</font><font style="font-family:inherit;font-size:10pt;">. You may at any time withdraw all or any number of Shares credited to your Account under the Plan by directing the Broker to cause your Shares to be (i) issued as certificates in your name, (ii) transferred to another brokerage account of yours or (iii) sold and the net proceeds (less applicable commissions and other charges) distributed in cash to you. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.03&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Distribution Upon Termination</font><font style="font-family:inherit;font-size:10pt;">. Upon termination of your participation in the Plan as a whole prior to the expiration of all Offerings thereunder, all contributions and Shares credited to your Account shall be disbursed to and as directed by you in accordance with the Plan. All contributions credited to your Account that have not been applied to the purchase of Shares shall be returned to you without interest, unless such termination coincides with the expiration of an Offering and Shares are purchased accordingly. Shares credited to your Account shall, in accordance with instructions to the Broker from you and at your expense, be distributed in the same manner as permitted upon any withdrawal.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.04&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Failure to Provide Directions</font><font style="font-family:inherit;font-size:10pt;">. If within ninety (90) days after you have withdrawn from the Plan you have not notified the Broker of your instructions as set forth herein, the Committee shall direct the Broker to issue Shares in your name and deliver the same to you at your last known address.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.05&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Sale of Shares</font><font style="font-family:inherit;font-size:10pt;">. If you elect to receive the proceeds from the sale of your Shares, the amount payable shall be determined by the Broker based upon the proceeds of the sale of your Shares at the market price prevailing on the principal stock exchange on which Shares are traded, less any applicable commissions, fees </font></div><br><div><div style="line-height:100%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s7AB2579D7958C71C39BC3C5967240EF5"></a><div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">and charges. The Broker, acting on your behalf, shall take such action as soon as practicable, but in no event later than five (5) business days after receipt of notification from you. The Company assumes no responsibility in connection with such transactions, and all commissions, fees or other charges arising in connection therewith shall be borne directly by you. The amount thus determined shall be paid in a lump sum to you. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE VII&#160;&#160;&#160;&#160;ADMINISTRATION AND EXPENSES</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7.01&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Administration by Committee</font><font style="font-family:inherit;font-size:10pt;">. The Plan shall be administered by a Committee, which shall consist of such members as determined by the Company (the &#8220;Committee&#8221;). The Committee shall interpret and apply the provisions of the Plan in its good faith discretion, and the Committee's decision is final and binding. The Committee may establish rules for the administration of the Plan; provided, however, that any such rules established shall be in compliance with Section 423 of the Code and the regulations promulgated thereto, including, without limitation, the equal rights and privileges provision of &#167;1.423-2(f).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7.02&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Expenses for Purchase of Shares</font><font style="font-family:inherit;font-size:10pt;">. The Company shall pay brokerage commissions, fees and other charges, if any, incurred for purchases of Shares with payroll deductions made under the Plan. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7.03&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Expenses to Sell or Transfer Shares</font><font style="font-family:inherit;font-size:10pt;">. All brokerage commissions, fees or other charges in connection with any sale or other transfer of your Shares shall be paid by you. In addition, any charges by the Broker in connection with your request to have certificates representing Shares registered in your name shall be paid by you.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7.04&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Post-Termination Expenses</font><font style="font-family:inherit;font-size:10pt;">. Upon your termination of employment or your withdrawal from the Plan for any other reason, all commissions, fees and other charges thereafter relating to your Account will be your responsibility. </font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE VIII&#160;&#160;&#160;&#160;MERGERS AND OTHER SHARE ADJUSTMENTS</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8.01&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Mergers or Other Consolidations</font><font style="font-family:inherit;font-size:10pt;">. In the event that the Company is a party to a merger or consolidation, outstanding options under the Plan shall be subject to the agreement of merger or consolidation. Such agreement, without the consent of any Participant, may provide for:</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#32;the continuation of such outstanding options by the Company (if the Company is the surviving corporation);</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#32;the assumption of the Plan and such outstanding options by the surviving corporation or its parent;</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#32;the substitution by the surviving corporation or its parent of options with substantially the same terms for such outstanding options, including the substitution of shares of common stock of the surviving corporation with such appropriate adjustments so as not to enlarge or diminish the rights of Participants; or</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#32;the cancelation of such outstanding Options without payment of any consideration other than the return of contributions credited to Participants' Accounts, without interest.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8.02&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Adjustments to Shares or Options</font><font style="font-family:inherit;font-size:10pt;">. In the event of a subdivision of the outstanding common stock, a declaration of a dividend payable in Shares, a declaration of an extraordinary dividend payable in a form other than Shares in an amount that has a material effect on the fair market value of the Shares, a combination or consolidation of the outstanding Shares into a lesser number of Shares, a recapitalization, a spin-off, a reclassification or a similar occurrence, the Board of Directors shall make appropriate adjustments so as not to enlarge or diminish the rights of Participants, in one or more of (i)&#160;the number of Shares available for purchase under the Plan, (ii)&#160;the number of Shares subject to purchase under outstanding options or (iii)&#160;the purchase price per Share under each outstanding option.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Notwithstanding any other provision of the Plan, if the Shares cease to be listed or traded, as applicable, on a national stock exchange or over-the-counter market (a &#8220;Triggering Event&#8221;), then, in the discretion of the </font></div><br><div><div style="line-height:100%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s7AB2579D7958C71C39BC3C5967240EF5"></a><div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Committee, (i) the balance in the Participant&#8217;s Account not theretofore invested may be refunded to the Participant, and such Participant shall have no further rights or benefits under the Plan, (ii) an amount equal to the product of the fair market value of a Share on the date of the Triggering Event multiplied by the number of Shares such Participant would have been able to purchase with the balance of his or her Account on such Triggering Event if such Triggering Event were the last day of the Offering Period may be paid to the Participant, and such Participant shall have no further rights or benefits under the Plan, or (iii) the Plan may be continued without regard to the application of this sentence.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE IX&#160;&#160;&#160;&#160;AMENDMENT AND TERMINATION</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9.01&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Board of Directors May Amend or Terminate</font><font style="font-family:inherit;font-size:10pt;">. Subject to Section 423 of the Code and the regulations promulgated thereunder, the Board of Directors of the Company may at any time terminate or amend the Plan in any respect, including, but not limited to, terminating the Plan prior to the end of an Offering Period or reducing the term of an Offering Period; provided, however, that the number of Shares subject to purchase under the Plan shall not be increased without approval of the Company's shareholders. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9.02&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Termination</font><font style="font-family:inherit;font-size:10pt;">. The Plan and all rights of Participants to purchase any Shares hereunder shall terminate at the earlier of the conclusion of the last Offering Period authorized hereunder, or as otherwise determined by and at the discretion of the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9.03&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Issuance of Shares and Cash Refund upon Termination of Plan or End of Offering Period</font><font style="font-family:inherit;font-size:10pt;">. Upon termination of the Plan at the end of an Offering Period, Shares shall be issued to Participants, and cash, if any, remaining in the Accounts of the Participants, shall be refunded to them, as if the Plan were terminated at the end of an Offering Period. Upon termination of the Plan prior to the end of an Offering Period, all amounts not previously applied to the purchase of Shares shall be distributed to you.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9.04&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Approval by Broker</font><font style="font-family:inherit;font-size:10pt;">. No amendments to the Plan which affects the responsibilities or duties of the Broker shall be effective without the agreement and approval of the Broker.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE X&#160;&#160;&#160;&#160;MISCELLANEOUS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.01 &#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Joint Ownership</font><font style="font-family:inherit;font-size:10pt;">. Shares shall be registered in the name of the Participant only.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.02&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">No Employment Rights</font><font style="font-family:inherit;font-size:10pt;">. The Plan shall not be deemed to constitute a contract of employment between the Company and you, nor shall it interfere with the right of the Company to terminate you and treat you without regard to the effect which such treatment might have upon you under the Plan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.03&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Tax Withholding</font><font style="font-family:inherit;font-size:10pt;">. The Company shall withhold from amounts to be paid to you as wages, any applicable Federal, state or local withholding or other taxes which it is from time to time required by law to withhold. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.04&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Compliance with Laws</font><font style="font-family:inherit;font-size:10pt;">. The Company, in its discretion, may extend the period during which Participants in any Offering may withdraw from participation in such Offering, postpone the date of the purchase and sale of Shares pursuant to any Offering or direct the Broker to delay the issuance of any certificate representing Shares in the name of any person or the delivery of Shares to any person if the Company determines that the taking of such action is necessary or desirable to comply with any applicable federal or state laws or the listing or other requirements of any national securities exchange or to obtain the consent or approval of any governmental regulatory body or self-regulatory organization as a condition of, or in connection with, the sale or purchase of Shares under the Plan, until such registration, qualification, listing, consent or approval shall have been effected or obtained, or otherwise provided for, free of any conditions not acceptable to the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.05&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Governing Law</font><font style="font-family:inherit;font-size:10pt;">. The Plan shall be governed by, and construed in accordance with, the laws of the State of New York and without regard to the conflict of laws principles of such state.</font></div><br><div><div style="line-height:100%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div>	</body>
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