Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 157

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 157
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 Payments Under Employment Agreements and Offer Letters We have entered into employment agreements or offer letters with all of our current named executive officers. The employment agreements or offer letters with certain of the named executive officers provide for certain severance payments and benefits upon a termination by Wheels Up without “Cause,” by the named executive officer for “Good Reason” or due to death or “Disability” (as each such term is defined in the applicable employment agreement or offer letter). For more information regarding these severance payments and benefits, see “ Narrative to the Summary Compensation Table—Employment Agreements and Offer Letters of Current Named Executive Officers” and “ Narrative to the Summary Compensation Table—Contractual Arrangements with Former Named Executive Officers” above. Potential Payments Under Equity Incentive Plans and Award Agreements As of December 31, 2024, certain of our current named executive officers had outstanding unvested PSUs and RSUs under the Amended and Restated 2021 LTIP and unvested shares of Common Stock under the CEO Performance Plan and CCO Performance Plan. Such awards granted under our equity incentive plans may vest or be forfeited, in whole or in part, under various termination of employment scenarios, including in connection with a change of control. In addition, we may extend the period during which any vested options under the WUP Option Plan may be exercised after separation. Eligibility for vesting of unvested awards granted under our equity incentive plans are triggered by certain events. The terms “Cause,” “Change of Control,” “Disability” and “Good Reason,” as they apply to our current named executive officers under the Amended and Restated 2021 LTIP and the applicable award agreements thereunder, and CEO Performance Plan and CCO Performance Plan, may result in varying treatment of such awards in a termination of service scenario versus the treatment prescribed by a named executive officer’s employment agreement or offer letter, or the Severance Guidelines (as described below). In such cases, the Board and Compensation Committee may exercise their discretion, to the extent permitted under the applicable equity incentive plan, to direct an alternate treatment of such awards upon a termination of service.

| 82Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders |

TABLE OF CONTENTS

EXECUTIVE COMPENSATION (continued) Potential Payments Under Executive Severance Guidelines The Compensation Committee has approved the Executive Severance Guidelines (the “Severance Guidelines”) to provide for certain treatment under certain termination of service scenarios for our