Company: SRFM
Filing Date: 2025-05-13
Form Type: DEF 14A
Source: 0001140361-25-018647
Chunk: 62

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-05-13
Form: DEF 14A
Chunk 62
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 Audit Committee will take into account the relevant available facts and circumstances, which may include, but are not limited to:

| • | the nature of the related person’s interest in the transaction; |

| • | the impact on a director’s independence in the event the related person is a director, immediate family member of a director or an entity with which a director is affiliated; |

| • | the terms of the transaction; |

| • | the availability of other sources for comparable services or products; and |

| • | the terms available to or from, as the case may be, unrelated third parties. |

| Surf Air Mobility Inc. |     | 48 |     | 2025 Proxy Statement |

TABLE OF CONTENTS Certain Relationships and Related Party Transactions Park Lane Park Lane Investments, LLC (“Park Lane”) is an entity owned by a family member of Liam Fayed, a co-founder and former officer of Surf Air Global Limited (“SAGL”), a subsidiary of the Company. Park Lane owns four aircraft which it leases, via TVPX ARS (“TVPX”), as trustee for the aircraft, to SAGL. Pursuant to leases entered into with TVPX on July 11, 2019 and August 1, 2020 (each as amended on August 1, 2022, June 16, 2023 and February 1, 2024), SAGL pays monthly lease payments of $25,000 for each aircraft. Under the terms of these agreements, SAGL also owes to TVPX, as supplemental rent, (i) as and when due, any other amount that it is obligated to pay to TVPX or others under the lease and (ii) interest accruing on rent not paid when due, until paid. Each lease expired on January 31, 2025, and was extended on a month-to-month basis as of January 31, 2025. As of December 31, 2019, the Company owed to Park Lane $6.0 million (in principal and interest) for short-term loans made by Park Lane to SAGL during 2019. On April 7, 2020, SAGL issued a convertible secured promissory note to Park Lane, pursuant to which the $7.1 million in loans made by Park Lane to SAGL were exchanged for a secured convertible loan in the amount of $7.5 million, bearing interest of 6.0% per annum due 2022. On