Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 69

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 69
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 of the following will apply to the CFO Performance Plan: (i) suspend vesting and/or settlement of the CFO Performance Plan; (ii) specify any additional terms, conditions and limitations for the grant of the CFO Performance Plan; (iii) cancel the CFO Performance Plan or provide for conditions or circumstances under which the CFO Performance Plan will be forfeited other than those expressly stated in the CFO Performance Plan; (iv) apply performance goals or performance criteria other than those specified in the CFO Performance Plan or reduce the amounts payable under the CFO Performance Plan; (v) cancel any unpaid or deferred portion of the CFO Performance Plan or any portion thereof for any reason other than our Chief Financial Officer is not in compliance with the CFO Performance Plan as so determined and decided by an appropriate court of final jurisdiction; or (vi) settle the CFO Performance Plan other than in shares of Common Stock or cash. Clawback/Recovery The CFO Performance Plan is subject to recovery under any law, government regulation or stock exchange listing requirement or the Recoupment Policy and will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement. In addition, the Administrator may cancel any unexpired, unpaid, unexercised or deferred award at any time if our Chief Financial Officer is not in compliance with the CFO Performance Plan, including certain restrictive covenants. Furthermore, the Administrator may require our Chief Financial Officer to return to and/or reimburse the Company for an award and/or shares of Common Stock issued under the CFO Performance Plan, and any proceeds paid or provided upon disposition of shares of Common Stock issued under the CFO Performance Plan, pursuant to the terms of the Recoupment Policy. See “ Corporate Governance—Executive Compensation Recoupment Policy” in this Proxy Statement for additional information about the Company’s compensation clawback policy. Types of Awards Although the terms of the Amended and Restated 2021 LTIP incorporated into the CFO Performance Plan permit the Administrator to grant awards of stock options, restricted stock, restricted stock units, stock appreciation rights, other stock-based awards, performance awards or cash awards, the CFO Performance Plan is a one-time award in lieu of future annual equity compensation grants and does not constitute a promise of future grants. The CFO Performance Plan does not obligate the Company to issue any future grants to our Chief Financial Officer. Minimum Vesting Condition for Awards The terms of the Amended and Restated 2021 LTIP incorporated into the CFO Performance Plan require that any grant or award