On August 29, 2012, Air T, Inc. (the "Company") entered into Amendment No. 3 to Loan Agreement dated as of August 29, 2012 (the "Amendment") with Bank of America, N.A. (the "Lender") to extend, from August 31, 2013 to August 31, 2014, the availability period under the $7,000,000 revolving line of credit documented by the Loan Agreement dated September 18, 2007 between the Company and the Lender and to revise the provision requiring the Company to deliver certain financial information to the Lender. The Amendment is filed as Exhibit 10.1 hereto and is incorporated by reference herein.

(a) Air T, Inc. (the "Company") held its 2012 annual meeting of stockholders on August 30, 2012.

(b) At the meeting Sam Chesnutt, Allison T. Clark, Walter Clark, John J. Gioffre, John Parry, George C. Prill, William H. Simpson, Nicholas J. Swenson, Dennis A. Wicker and J. Bradley Wilson were elected as directors and the stockholders voted on a resolution to ratify the appointment of Dixon Hughes Goodman, LLP as the independent registered public accounting firm of the Company for the fiscal year ending March 31, 2013. The tabulation of votes with respect to each of these matters is set forth below:

Election of Directors


        Director Nominee       Votes For       Votes Withheld      Broker Non-votes
       Sam Chesnutt              739,657              723,775               784,485
       Allison T. Clark          755,152              708,280               784,485
       Walter Clark              767,412              696,020               784,485
       John J. Gioffre           741,757              721,675               784,485
       John Parry                772,120              691,312               784,485
       George C. Prill           758,328              705,104               784,485
       William H. Simpson        764,069              699,363               784,485
       Nicholas J. Swenson     1,391,672               71,760               784,485
       Dennis A. Wicker          752,256              711,176               784,485
       J. Bradley Wilson         774,558              688,874               784,485

Ratification of Appointment of Independent Registered Public Accounting Firm

Votes For Votes Against Votes Abstained 2,223,762 14,899 9,266

There were no broker non-votes with respect to the ratification of the appointment of the independent registered public accounting firm.

(c) Exhibits

Exhibit 10.1 Amendment No. 3 to Loan Agreement dated August 29, 2012 between Bank of America, N.A. and Air T, Inc., Mountain Air Cargo, Inc., Global Ground Support, LLC, CSA Air, Inc. and Global Aviation Services, LLC