Baltia Air Lines 10-K 2013 FY Annual report

EXHIBIT 10.20 - Insurance Binder

[LOGO: STATE NATIONAL COMPANIES] Meadowbrook Insurance Group
1520 US Route 130, Suite 206
North Brunswick, NJ 08902 (732) 940-8407

Date	3/17/2014
Named Insured Address	Baltia Air Lines, Inc. and Logistics Air, Inc. Building 151, Room 361, JFK International Airport, Jamaica, NY 11430
Effective Date Expiration Date	4/1/2014 4/1/2015 12:01am standard time at the address stated above. 12:01am standard time at the address stated above.
Producer Address	10798 - Aviation Risk Management Associates
Attention Underwriter	Daniel Walker Mmarie Fini

Aircraft Hull and Liability Binder - Renewal

Aircraft Information

					Seats		Deductible
Registration	Year	Type	Make	Model	Crew	Passenger	IM	NIM
N706BL	TBA	PW	Boeing	B747-200	2	0	NA	$100,000

Physical Damage

Registration	Hull Value	Hull Rate	Hull Premium	Hull War Rate	Hull War Premium
N706BL	$ 5,000,000	2.296%	$ 114,800	Included	Included

Liability

Registration	BI / PD Limit	Passenger Limit	Premium	Liability War Limit	Liability War Premium
N706BL	$ 10,000,000	Excluded	$20,000	$10,000,000	Included

Additional Coverages

Coverage	Limit	"Per"
Medical Payments	$ 5,000	Person
Premises Liability	$ 10,000,000	Occurrence
Mobile Equipment Liability	$ 10,000,000	Occurrence
Products Liability	$ 10,000,000	Occurrence
Contractual Liability	$ 10,000,000	Occurrence

Conditions

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Purpose of Use	Ground, Not in Flight
Cancellation	30 days / 10 for non-payment of premium
Territory	Worldwide
Additional Insured / Waiver of Subrogation
Kalitta Equipment, LLC, Kalitta Maintenance, Boeing CSGTA, c/o Baltia Air Lines, Inc., Building 151, Room 361, JFK International Airport, Jamaica, NY 11430
Lessor/Waiver of Subrogation/Loss Payable
Logistics Air, Inc., 564 Wedge Lane, Fernley, NV 89408
Premium Finance
Premium Assignment Corporation, PO Box 8800, Tallahassee, FL 32314-8800
Pilots
Not Applicable

Endorsements

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Form Number	Description
4871 AI 0713,    Aircraft Insurance Policy Declarations - State National 4872 AI 0713,    Aircraft Provisions SN 0915 IL 0713    SN Witness Clause 0985 IL 0108,    Terrorism Disclosure IL P 001 0104    OFAC 49 07 AI 06 10,    War, Hi-Jacking and Other Perils Exclusion (without terrorism) 54 33 AI 1211,    Sanctions and Embargo Clause 54 31 AI 1211,    Middle Eastern Sanctions Exclusion 54 32 AI 1211,    Recording & Distribution of Material or Information in Violation of Law Exclusion 49 05 AI 04 10,    Extended Coverage Ends - Certified Acts of Terrorism Coverage 49 20 AI 04 10,    Fungus Exclusion Endorsement 49 23 AI 04 10,    Asbestos Exclusion 49 24 AI 04 10,    Nuclear Energy Liability Exclusion 49 25 AI 04 10,    Noise, Pollution and Other Perils Exclusion Clause 5580 AI 0312,    Contractual Liability Endorsment 49 00 AI 03 10,    Policy Territory Endorsement 5599 AI 0312,    Premises Liability Endorsment 49 09 AI 03 10,    Extended Coverage Endorsement (Aircraft Physical Damage) 48 82 AI 03 10,    Extended Coverage Endorsement (Aviation Liabilities) 49 45 AI 06 10,    New York Changes - Cancellation 48 73 AI 03 10,    Additional Insured Endorsement 5611 AI 0312,    Waiver of Subrogation 48 88 AI 03 10,    Lessor Endorsement 48 91 AI 03 10,    Loss Payable Endorsement 5602 AI 0312,    Products Liability Endorsment 5593 AI 0312,    Mobile Equipment Liability Endorsment 48 65 GL 03 10,    Financed Premium Endorsement
Issue	State National Insurance Company
Policy Number	NDD0763844-02
Premium	$134,800
Payment Terms	Annual
A completed, signed application must be received by the Company within 30 days of the effective date of coverage.
Coverage is bound as outlined above. This document is not a policy, it is a summary of coverage. For actual terms and conditions, refer to your policy.
___[SIGNATURE]___ (authorized representative)	___3/17/2014___ Date
Please immediately report all claims directly to: Meadowbrook Service Center Phone: 1-800-825-9489 Fax: 1-800-832-8793 e-mail: calls.center@meadowbrook.com 11880 College Boulevard Suite 500 Overland Park, KS 66210-2035